## **Charity Registration No. 1134526**
**IPSWICH & DISS AREA QUAKER MEETING TRUSTEES’ REPORT AND EXAMINED ACCOUNTS**
**FOR THE YEAR ENDED 31 DECEMBER 2020**
## **IPSWICH AND DISS AREA QUAKER MEETING FINANCIAL STATEMENTS Year ended 31 December 2020**
|**CONTENTS**|**Page**|
|---|---|
|Legal and Administrative Information|3|
|Trustees’ Report|4 – 12|
|Statement of Trustees’ Responsibilities|13|
|Independent Examiner’s Report to the Trustees|14|
|Statement of Financial Activities|15|
|Balance Sheet|16|
|Notes to the Accounts|17 – 23|
|Management Information|24 – 26|
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**IPSWICH AND DISS AREA QUAKER MEETING FINANCIAL STATEMENTS Year ended 31 December 2020**
## **LEGAL AND ADMINISTRATIVE**
|**Trustees:**|Rachel Bach|(resigned 31 March 2020)|
|---|---|---|
||David Coutts||
||Elaine Green, Clerk||
||Jen Larner||
||Lucy Pollard||
||Nicholas Wright, Treasurer||
|**Charity number:**|1134526||
|**Registered address:**|Quaker Meeting House||
||St Johns Street||
||Bury St Edmunds||
||IP33 1SJ||
|**Accountant and**|David Stephens||
|**Independent Examiner:**|13 Newlands Road||
||Tunbridge Wells, Kent||
||TN4 9AS||
|**Solicitor:**|Kerseys Solicitors||
||32 Lloyds Avenue||
||Ipswich, Suffolk||
||IP1 3HD||
|**Holding Trustee of**|Friends Trusts Limited||
|**Property:**|Friends House||
||173 Euston Road||
||London||
||NW1 2BJ||
|**Principal Advisors:**|Rathbone Greenbank Investments||
||10 Queen Square||
||Bristol||
||BS1 4NT||
||Clark & Simpson Estate Agents||
||Well Close Square,||
||Framlingham, Suffolk||
||IP13 9DU||
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## **IPSWICH AND DISS AREA QUAKER MEETING FINANCIAL STATEMENTS Year ended 31 December 2020**
## **TRUSTEES’ REPORT**
The trustees present a consolidated report and accounts for the year ended 31 December 2020.
The accounts comply with the charity’s governing document; have been prepared under the historical cost convention, with the exception of investments, which are included at market value, and are in accordance with applicable accounting standards and the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the UK and Republic of Ireland (FRS 102) issued on 16 July 2014.
## **1 STRUCTURE, GOVERNANCE AND MANAGEMENT**
Ipswich & Diss Area Quaker Meeting is part of the Religious Society of Friends (Quakers) in Britain and is a registered charity that is administered and managed in accordance with the Charity Commission Scheme that was adopted on 29 May 2012 and updated on 7 October 2014. The scheme covers the constituent parts of Ipswich & Diss Area Quaker Meeting, which include:
- Local Meetings at Bury St Edmunds, Diss, Felixstowe, Ipswich, Leiston and Woodbridge.
- Ipswich and Diss Area Meeting Property Charity, which manages the Area Meeting’s four Meeting Houses in Ipswich, Diss, Bury St. Edmunds and Leiston; Burial Grounds in Bredfield, Needham Market, Woodbridge, Diss, Bury St. Edmunds and Leiston; a private house in Diss which is rented out and a warden’s flat within Ipswich Meeting House. The Holding Trustee for these properties is Friends Trusts Limited.
- Agnes Moss Bequest Trust, which is a restricted fund for the use of Diss Local Meeting and consists of 21 St Nicholas Street, Diss, IP22 4LB. The Holding Trustee for this endowed property is Friends Trusts Limited.
- Richard Waynforth Trust, which is a permanent endowment for the relief in need of members and attenders of Ipswich & Diss Area Meeting and, from 7 October 2014, members and attenders of Waveney & Norfolk Area Meeting and Southern East Anglia Area Meeting.
The trustees who served during 2020 are listed on page 3. The Area Meeting appoints new trustees from its 160 members. All trustees receive induction training.
## **2 PUBLIC BENEFIT, OBJECTIVES AND CHARITABLE ACTIVITIES**
The trustees have complied with the duty in section 4 of the Charities Act 2006 to have due regard to guidance published by the Charity Commission on public benefit when reviewing our aims and objectives and in planning our charitable activities.
## **2.1 General Statement of Public Benefit**
Meetings for Worship are held every Sunday at each of our six Local Meetings. Some Meetings for Worship are also held midweek. All these are open to the public and provide opportunities for worship and spiritual growth. Meetings for Worship are also held in prisons, but these are not open to the public.
During the Covid 19 pandemic Meetings for Worship in person have not always been legal or possible. Alternative ways of worship have been found: in gardens, by internet, singly at home at pre-arranged times. These arrangements have been publicly advertised.
The Area Meeting continues to support the vital work of other local, national and international charities through monthly special collections of funds and fundraising events. Chaplaincy support is provided locally to two prisons, a hospital and a university. We run and/or support various activities to promote inter-faith understanding, peace, social justice and equality. All of these activities are our way of putting our faith into action to make a positive impact on the lives of people within both our local and global communities. See Section 2.4 for more details.
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## **IPSWICH AND DISS AREA QUAKER MEETING FINANCIAL STATEMENTS Year ended 31 December 2020**
Our four Meeting Houses are available for lettings to community groups, other charities and businesses undertaking charitable activities. As well, 21 St Nicholas Street, Diss, is let to a collective of local craftspeople. This provides a public service by contributing to community cohesion and encouraging the growth of creative businesses. During the Covid 19 pandemic most lettings have not been legal or possible. This has been greatly inconvenient to those groups and considerably decreased our income. We have been able to survive financially by use of the Government's Coronavirus Job Retention Scheme to continue to pay our wardens and cleaners.
## **2.2 Objectives**
## **2.2.1 Ipswich & Diss Area Quaker Meeting and the Local Meetings**
The charitable objectives of Ipswich & Diss Area Meeting and its Local Meetings are to support “the furtherance of the religious and other charitable purposes of the Religious Society of Friends (Quakers) in the area of Ipswich and Diss meeting and beyond.”
## **2.2.2 Ipswich and Diss Area Meeting Property Charity**
The charitable objectives of the Ipswich & Diss Area Meeting Property Charity are to support the “meeting houses and burial grounds of the Religious Society of Friends or for such other charitable purposes of the Society as the Ipswich and Diss Area Meeting may direct and the trustees may think suitable: provided that the trustees may allow persons who are not members of the Society to use the meeting houses and premises and the remains of persons who were not members of the Society to be buried in the burial grounds.”
## **2.2.3 The Agnes Moss Bequest Trust**
The charitable objectives of the Agnes Moss Bequest Trust state that “the income arising from the property or from proceeds of sale of the property are to be applied for such purpose or object (within the legal definition of a charitable purpose or object) as the Area Meeting shall direct.” The property referred to is 21 St Nicholas Street in Diss. The Area Meeting has directed that the trust is to be used 1) by Area Meeting for administration of the trust and for property maintenance and repairs of 21 St Nicholas Street and 2) by Diss Local Meeting for general purposes and property maintenance and repairs of Diss Meeting House, its burial ground and the warden’s house.
## **2.2.4 The Richard Waynforth Trust**
The charitable objectives of the Richard Waynforth Trust are to provide “relief in need for members and attenders of the Area Meeting” through grant making. This relief includes paying for household bills, transport to and from Meetings for Worship, essential home refurbishment, household items and electrical appliances, mobility aids, training to get back to work, emergency travel, respite care and home help. The trust also finances attendance at Britain Yearly Meeting, Junior Yearly Meeting and Yearly Meeting Gathering for members and attenders who would otherwise find it financially difficult to attend. On 7 October 2014, the Charity Commission issued a revised scheme that extends the Trust’s area of benefit to include members and attenders of Waveney & Norfolk Area Meeting and Southern East Anglia Area Meeting.
## **2.3 Activities in Relation to the Charity’s Objectives**
Ipswich & Diss Area Quaker Meeting performs the following activities in relation to its objectives:
- Arranging and holding public meetings for worship, open to all, in its constituent Local Meetings in Bury St Edmunds, Diss, Felixstowe, Ipswich, Leiston and Woodbridge.
- Holding Area Meetings, using the Quaker business method, at regular intervals in January, March, May, July, September and November each year.
- Taking responsibility for membership of the Area Meeting and hence of the Religious Society of Friends (Quakers) in Britain and maintaining a register of the Area Meeting’s members and attenders.
- Ensuring that all Local Meetings report regularly on their activities and that Local Meeting treasurers and Local Meeting premises committees meet together at least annually.
- Appointing clerks, a treasurer, registering officers, a nominations committee, elders, and pastoral care team co-ordinators.
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**IPSWICH AND DISS AREA QUAKER MEETING FINANCIAL STATEMENTS Year ended 31 December 2020**
- Consolidating accounts of its constituent Local Meetings and linked charities.
- Maintaining links with other churches and local faith groups.
- Maintaining links with the Religious Society of Friends (Quakers) in Britain, also known as Britain Yearly Meeting, and Friends Trusts Ltd, which is the trust corporation for the Religious Society of Friends in Great Britain.
- Taking responsibility for the preservation of Area Meeting and Local Meeting records.
- Managing the charity's income and expenditure to meet the proper costs of administering the charity and managing its cash and non-cash assets in keeping with the charity’s ethical investment policy.
- Ensuring ongoing repairs and maintenance are carried out for the Meeting Houses, the wardens’ flat and the private house.
- Ensuring the Meeting Houses, the wardens’ flat and the private house comply with current Health and Safety Regulations, Fire Safety Regulations and other relevant government regulations.
- Ensuring compliance to safeguarding, equal opportunities and data protection legislation.
- Providing adequate Public Liability Insurance for the Local Meetings and Buildings and Contents Insurance coverage for the Meeting Houses and buildings insurance for the wardens’ house and flat.
- Commissioning quinquennial and tree surveys and carrying out the recommended actions for the Meeting Houses and their adjacent burial grounds.
- Inspecting the burial grounds at Bredfield, Needham Market and Woodbridge and taking remedial actions, where required.
- Ensuring compliance to employment regulations and monitoring wardenship and employment matters, including pensions and the Living Wage, at Ipswich, Bury St Edmunds and Diss Meeting Houses.
- Overseeing all building renovations and new development undertaken at the Meeting Houses and the private house.
- Selling, leasing or disposing of all or any part of the charity's property that is not required to be retained to achieve its objectives.
- Co-operating with other charities, voluntary bodies and statutory authorities as required.
- Making relief-in-need grants to provide or pay for goods, services and/or training for members and attenders of Ipswich & Diss Area Meeting, Waveney & Norfolk Area Meeting and Southern East Anglia Area Meeting.
## **2.4 Charitable Activities for Public Benefit**
This section sets out the charitable activities for public benefit as a local church within a national framework. The format adopted reflects the strategic aims of Britain Yearly Meeting, the national body.
## **2.4.1 Meeting for Worship is the bedrock of living as a Quaker**
Whilst places of worship were closed until July, Quakers across Suffolk chose to worship as summarised in paragraph 2.1 above. Many worshippers were shielding for the remainder of the year and participated in collective worship where this was arranged online and accessible to them in their own homes.
At the most restricted times during the year, only three of our Local Meeting felt able to continue regular worship via online video-conferencing or a mix of online and in-person, when it was lawful to do so. Bury St Edmunds and Ipswich Local Meetings were able to support Sunday as well as a mid-week collective worship throughout the year.
In 2020 Diss Meeting offered only in-person worship, as the circumstances allowed, but had online access to neighbouring Meetings for Worship as well as online social exchange and support at other times. When Leiston Meeting House was closed down, on Sundays mornings Friends held silent meetings in their homes at the regular worship time; the Elders suggested for each ‘Meeting’ a passage from the Quaker book of discipline for each worshipper to read. They shared an online social exchange after the worship. Leiston also held shorter Meetings for Worship online on Tuesday mornings and these attracted Friends who do not normally come to the Meeting House for a variety of reasons. From 6th September to 1st November Meetings for Worship in person resumed, whilst throughout the year, Elders and Pastoral Care Friends held their meetings online.
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## **IPSWICH AND DISS AREA QUAKER MEETING FINANCIAL STATEMENTS Year ended 31 December 2020**
A number of worshippers in all Local Meetings took the opportunity during 2020 to join other online Quaker worshipping communities; some within the same Area Meeting, some elsewhere within Britain or Europe and some further afield. This has enriched their personal spiritual experience.
Our two Local Meetings who meet for worship on hired premises both lost their existing sites during the first lockdown period of 2020 and had to undertake the task of finding alternatives. One successfully found suitable accommodation but, was prevented from gathering in worship during the remainder 2020 when the new premises were themselves under Covid closure. Woodbridge Friends did not find suitable accommodation and continued to meet online. When restrictions where eased, Friends met at each other’s homes to join the meetings on the virtual platform. Woodbridge Local Meeting set up weekly newsletters and extra phone calls to strengthen Friends’ contact, love and support for each other.
Towards the end of the year, our gathered communities reviewed their particular experiences of their spiritual life under the restrictions. The discernment of the social and spiritual impact of gathering in person or by video-conferencing on the quality of the Quaker form of worship for the individual and the gathered community continues within our Local and Area Meetings. There has emerged a general feeling of a greater sense of community and spirituality for most than there had been prior to the pandemic, but our Meetings are conscious that Friends who cannot or do not wish to participate in online worship have not been well served.
## **2.4.2 Quaker communities are loving, inclusive and all age**
The experience of whole or partial online worship has been reviewed throughout 2020. The practical setting up and operation of video-conferencing via personal and Meeting House equipment presented problems as a new platform and format for collective worship. Overall, the evidence suggests that, as an addition to in person traditional gathering, the format has effectively extended opportunities for worship, spiritual learning and social interaction and wider accessibility has been achieved by mixing formats. Local Meetings have continued working on the practical problems of video sound and vision quality in Friends’ homes and in the Meeting House for a worship offering that is a mix of online and in person though they are realistic about what can be achieved technically. One discouraging indication that emerged was that younger Friends who worked or studied for a greater part of the week online during the varying periods of restriction had no appetite for a virtual Meeting for Worship.
## **2.4.3 Quaker work collaboratively**
Quakers in this Area Meeting have, like other faiths, found it more difficult to cooperate with partners through the more traditional channels. While there were fewer regular activities and events organised through Churches Together after February 2020, a representative from Woodbridge Local Meeting continued to attend and promote online meetings and the Meeting contributed to the local Churches Together Easter video. As meetings moved online however, some work revived, such as the decision by Ipswich and Woodbridge Local Meetings to identify and work with the Sanctuary Everywhere movement, holding their first group meeting in late August. In November, Ipswich and Diss Area Meeting constituted itself as an active Sanctuary meeting.
During the early part of the year the Local Meetings donated collections to the causes they had planned to support. Such financial gifts were restricted to this short portion of 2020 and directed as follows: Empowering Palestinian Women, Bolivia Biosand Water Project (Bury St Edmunds Meeting); Quaker Homeless Action, Freedom from Torture, The Mason Trust (Diss Meeting); Smile Train UK, Anti-Slavery International (Felixstowe Meeting), Phoenix Prison Trust, Refugee Action, War on Want, Red Cross, FIND (Ipswich Meeting); Lighthouse, Prism the Gift, Childhood Trust, Woodbrooke Quaker Study Centre (Woodbridge Meeting).
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**IPSWICH AND DISS AREA QUAKER MEETING FINANCIAL STATEMENTS Year ended 31 December 2020**
## **2.4.4 All Friends understand and live by Quaker discipline**
The requirement to live up to the Quaker testimonies of equality, simplicity and sustainability, peace, integrity and truth has remained but the community has found it more challenging to act on our principles when our main medium of interaction has been online. Elders developed and revised guidance for the proper conduct of online and mixed-format worship to help Friends come to gather in worship with hearts and minds prepared. Other study and discussion groups took place throughout the year to focus on other aspects of discipline such as the quality of business meetings and the discernment required for right decision-making. Spiritual development work is continuing.
## **2.4.5 Quakers are well known and widely understood**
There has been less opportunity in this last year to conduct public events or actions which foster wider understanding of the Quaker faith and practice. Some individuals have attended ecumenical or social action events that have taken place online and have effected some limited personal outreach by doing so.
## **2.4.6 Quaker values are active in the world**
Living out Quaker social witness has been more difficult during 2020. Some individuals were able to attend Black Lives Matter demonstrations during the summer months when lockdown was lifted and have been able to support online campaigns in relations to human rights and environmental concerns.
The decision by Woodbridge Friends described in 2.4.3 above was unusual in 2020 as a whole community act of witness. It was hoped that the Sanctuary meetings initiative might act as a boost to the spiritual life of those involved and act as a catalyst for change.
Quakers in Suffolk look beyond COVID-19 and do not lose sight of other matters such as our Testimony on sustainability and climate change. (See below)
## **3. SUSTAINABILITY / ENVIRONMENTAL INTERESTS**
As individuals and families, Quakers in this Area Meeting continued to uphold by their own actions the Testimony on the earth’s sustainability. This has included care over the purchase, re-use and disposal of plastics, the avoidance of palm oil as an ingredient, an alternative approach to essential travel to reduce the personal and communal carbon footprint and investment in alternative technologies for energy generation. Despite the challenges of online shopping which can limit the marketplace for sustainable goods, Friends have continued to develop habits of buying personal hygiene and laundry products that have a less damaging impact on the environment.
This is the first year that our progress in environmental sustainability has been collated in a standard format for long term monitoring. In the summer of 2020, Bury St Edmunds Local Meeting installed an extra layer of fibre-glass lagging in the roof spaces of the Meeting House, as recommended in the latest Quinquennial Survey's Sustainability Report. Also following that report, Bury Friends enquired into the feasibility of installing secondary double-glazing in the main Meeting Room.
There were regular checks of the Meeting Houses for insurance and Health & Safety purposes. Some Meeting Houses chose to keep the gas boiler running at a lower temperature, especially without knowing during the changing periods of restrictive use how long the premises were going to be out of use. The advice received from heating engineers was not to close down the gas boilers completely during the lockdowns.
Some of our Meeting Houses are now starting to monitor their energy usage, although 2020 was not a typical year against which to benchmark.
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**IPSWICH AND DISS AREA QUAKER MEETING FINANCIAL STATEMENTS Year ended 31 December 2020**
## **4. FINANCIAL REVIEW**
## **4.1 Principal Funding Sources and Expenditures**
## **4.1.1 Ipswich & Diss Area Quaker Meeting**
Ipswich & Diss Area Quaker Meeting’s annual income is primarily from contributions from the members and attenders of its six Local Meetings, Gift Aid and room lettings in its four Meeting Houses. In 2020, it also received £17,151 from the Government's Coronavirus Job Retention Scheme. Additional income occasionally comes from legacies, fundraising and grants. In 2020, the Area Meeting received two legacies totalling £41,854.
The Area Meeting’s support costs include wages for wardens and cleaners, utilities, property repairs and maintenance, furniture and equipment and administration. Governance costs were for accountancy services. Other costs include conferences, payments to other Quaker bodies and outreach and publicity.
## **4.1.2 Ipswich & Diss Area Meeting Property Charity**
Ipswich & Diss Area Meeting Property Charity’s fixed assets are five freehold properties: the Meeting Houses at Bury St Edmunds, Diss, Ipswich (including a warden’s flat) and Leiston as well as a private house in Diss (formerly the warden's house). There are burial grounds at Bury St Edmunds, Diss and Leiston Meeting Houses and former burial grounds at Bredfield, Needham Market and Woodbridge, which is let to Woodbridge Town Council on a repairing lease for 30 years at a peppercorn rent from May 2004. All of the properties and burial grounds are registered with the Land Registry.
The charity also holds a permanently endowed restricted fund, the majority of which has been invested with Rathbone Greenbank. The remainder of the restricted fund’s assets are held with the Co-operative Bank, Ecology Building Society, Triodos Bank and Eastern Savings & Loans. The income from these investments contributes towards the charity’s annual expenditure, which consists of quinquennial surveys and buildings, contents and public liability insurance.
The charity is also responsible for annual recoupment payments. In the late 1980s, land belonging to Ipswich & Diss Monthly Meeting United Charities at Tower Ramparts, Ipswich, was sold for the enlargement of the Marks & Spencer store. Of the approximately £125,000 raised, the Charity Commission gave permission for £103,000 to be spent on refurbishment of the three Meeting Houses then in the Monthly Meeting, as follows:
|**Date of Scheme**|**Meeting House**|**Sum Spent**|**Annual Repayment**|
|---|---|---|---|
|11.08.1986|Bury St Edmunds|£16,000|£144|
|09.03.1987|Ipswich|£30,000|£270|
|13.11.1987|Leiston|£57,000|£513|
Authorisation to spend the funds was on condition that the sums were recouped over a period of 40 years at the rate of 0.9% per annum with the Official Custodian of Charities. These repayments, totalling £927 a year, are payable until 2026/27. The value held with CCLA was £143,433 on 31 December 2020. When the capital and income become accessible in 2026/27, the capital will be added to the endowment fund of the Ipswich & Diss Area Meeting Property Charity.
Income from the Property Charity is at present insufficient to pay for the maintenance costs of the four Meeting Houses, the private house and the warden’s flat, so these expenses are borne by their Local Meetings or from one of three Meeting House Funds:
- The designated AM Meeting Houses Fund is available for all four Meeting Houses as well as the private house at Diss and the warden’s flat at Ipswich. Income comes from donations, Gift Aid and investments with Rathbone Greenbank, Ecology Building Society and Triodos Bank. Funds are also held with the Co-operative Bank. The trustees have agreed that the income from this fund’s investments will be spent on capital repairs and maintenance only, and the invested capital will be used only in emergencies.
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**IPSWICH AND DISS AREA QUAKER MEETING FINANCIAL STATEMENTS Year ended 31 December 2020**
- The designated Bury St Edmunds Long-Term Meeting House Maintenance Fund has income from donations, Gift Aid and investments with Rathbone Greenbank, Triodos Bank, Ecology Building Society and Eastern Savings & Loan Credit Union. Funds are also held with the Co-operative Bank. The fund is only used for capital building maintenance and repairs at Bury St Edmunds Meeting House, and the invested capital will be used only in emergencies.
- The Agnes Moss Bequest Trust is for the use of Diss Local Meeting (see section 4.1.3).
## **4.1.3 Agnes Moss Bequest Trust**
The income for this permanently endowed restricted fund is from the letting of 21 St Nicholas Street in Diss. DesignerMakers21, a collective of local craftspeople, have been renting 21 St Nicholas Street under threeyear leases starting January 2015 and January 2019. They pay utilities and insurance.
The Agnes Moss Bequest Trust’s annual expenditure can include building repairs and governance costs (e.g., legal and estate agent fees) for 21 St Nicholas Street as well as maintenance and repairs costs for Diss Meeting House, its burial ground and private house.
In addition, the trust must pay the cost of buildings and public liability insurance and utilities and council taxes, when 21 St Nicholas Street has no tenant. Diss Local Meeting may also use the fund for general purposes, when required. All cash assets are held with the Co-operative Bank, Ecology Building Society and Eastern Savings & Loans.
If 21 St Nicholas Street is sold, the proceeds will be invested as a permanent endowment fund with the investment income still being used by Diss Local Meeting for general purposes and maintenance and repairs of the Meeting House, burial ground and the private house.
## **4.1.4 Richard Waynforth Trust**
The majority of this permanently endowed restricted fund has been invested with Rathbone Greenbank to produce an annual income for relief-in-need grant-making. The remaining funds are held with the Cooperative Bank, Ecology Building Society and Eastern Savings & Loans. In addition to grants, the fund incurs investment management costs and £500 of support costs annually.
## **4.2 Reserves Policy**
Reserves are that part of a charity's unrestricted income that is freely available to spend on any of the charity's purposes, once it has met its commitments and covered other planned expenditure. Charity law requires any income received by a charity to be spent within a reasonable period from receipt. The Charity Commission advises trustees that they should be able to justify the holding of income as reserves, because reserves levels that are too high may tie up money unnecessarily and reserves that are too low can jeopardise a charity's solvency and its future activities. The trustees have used this guidance, plus a financial risks assessment, to set the reserve levels for the Area Meeting, Local Meetings and linked charities.
The levels of reserve funds for the Area Meeting, Local Meetings and linked charities are assessed annually when the Area Meeting trustees and each Local Meeting review their previous year’s annual accounts and confirm their annual budgets for the coming year. Adjustments to the level of reserves are made as necessary, for instance to cope with inflation. Regular reviews of income versus expenditure help identify peaks and troughs in cash flow and give a warning of when reserves might need to be called on. Trustees review the reserves policy itself triennially.
## **4.2.1 Ipswich & Diss Area Quaker Meeting and the Local Meetings**
Restricted funds, which include endowments and restricted income funds, are excluded from the calculation of reserves for Area Meeting and the Local Meetings, because these funds can only be used for particular purposes--not for the overall charitable purposes of the Area Meeting. The restricted funds excluded from the Area Meeting and Local Meeting reserves are the Agnes Moss Bequest Trust, Richard Waynforth Trust and Ipswich & Diss Area Meeting Property Charity.
Although designated funds are unrestricted, the AM Meeting Houses Fund and the Bury St Edmunds LongTerm Meeting House Maintenance Fund are excluded from the calculation of reserves. These funds are earmarked for a particular use and not for Area Meeting’s overall charitable purposes. The Area Meeting’s
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## **IPSWICH AND DISS AREA QUAKER MEETING FINANCIAL STATEMENTS Year ended 31 December 2020**
functional fixed assets (i.e., four Meeting Houses, burial grounds, private house, warden’s flat and 21 St Nicholas Street) are also designated and excluded from the calculation of Area Meeting and Local Meeting reserves.
Any future legacies received for particular purposes, or programme-related investments made solely to fund a planned spending commitment that cannot be met from future income, will be restricted or designated and hence excluded from Area Meeting and Local Meeting reserves.
The equivalent of six months’ expenditure has been agreed as the most that Area Meeting and the Local Meetings should hold in reserve. The Area Meeting’s Reserves Policy provides a calculator for determining the amount of reserves that can be retained each year by the Area Meeting and Local Meetings.
Reserves are not used to fund short-term deficits in a cash budget (e.g., reserve funds are not spent before funding is received), but reserves can be used:
- For unforeseen day-to-day operational costs (e.g., employing temporary staff to cover a long-term absence or providing redundancy payments)
- As a temporary source of income to give the trustees or Local Meetings time to develop new sources of income or to cut-back on related expenditure, if income (e.g., contributions from the members and attenders and room lettings) falls below expectations
- For planned commitments, or designations, that cannot be met by future income alone (e.g., plans for a major asset purchase or significant project that requires 'matched funding')
Amounts held in excess of six months’ expenditure are available for discretionary spending, as agreed by Area Meeting or the Local Meeting. Donations can be made to the Bury St Edmunds Long-Term Meeting House Maintenance Fund, the AM Meeting Houses Fund and Britain Yearly Meeting as well as international and national Quaker and Quaker-related charities.
**4.2.2 Ipswich and Diss Area Meeting Property Charity** For the Ipswich & Diss Area Meeting Property Charity’s restricted fund, the designated AM Meeting Houses Fund and the designated Bury St Edmunds Long-Term Meeting House Maintenance Fund, all unspent income is retained as reserves; there is no discretionary spending. For the past several years, the Ipswich & Diss Area Meeting Property Charity was having to use its restricted fund’s reserves, because the charity’s annual investment income was insufficient to cover its annual expenditures for quinquennial surveys; buildings, contents and public liability insurance and annual recoupment payments (see section 4.1.2). After reviewing possible sources of additional income, the trustees asked the Local Meetings to reimburse their shares of the cost of the buildings, contents and public liability insurance to the Property Charity starting in 2019. All six Local Meetings have agreed. Bury St Edmunds and Leiston Local Meetings have also agreed to reimburse their shares of the recoupment payments. From 2020, any deficit will be met direct from Area Meeting funds.
## **4.2.3 Agnes Moss Bequest Trust**
The Agnes Moss Bequest Trust is a restricted fund for the use of Diss Local Meeting, so all unspent income is retained as reserves; there is no discretionary spending.
## **4.2.4 Richard Waynforth Trust**
The Richard Waynforth Trust is a restricted fund, so all income that is not spent on grant making is retained as reserves; there is no discretionary spending. Because the trust had high reserves, on 7 October 2014, the Charity Commissioned issued a revised scheme that extended the Trust’s area of benefit to include members and attenders of Waveney & Norfolk Area Meeting and Southern East Anglia Area Meeting. Trustees regularly review the grant guidelines to ensure that the scheme is applied most effectively.
**4.3 Investment Policy** Ipswich & Diss Area Quaker Meeting’s cash assets held in current accounts with the Co-operative Bank and invested in savings accounts with Triodos Bank, Ecology Building Society, Eastern Savings & Loans and CCLA. The restricted, designated and/or endowed funds of the Ipswich & Diss Area Meeting Property Charity
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## **IPSWICH AND DISS AREA QUAKER MEETING FINANCIAL STATEMENTS Year ended 31 December 2020**
and Richard Waynforth Trust are invested with Rathbone Greenbank in line with the Trustee Act 2000 and the trust instrument.
Rathbone Greenbank is instructed to manage all of the investments in such a way as to provide sufficient income to enable the Ipswich & Diss Area Meeting Property Charity and the Richard Waynforth Trust to carry out their purposes effectively both in the short term and over the longer term. Where possible, the value of the assets should be enhanced so as to at least keep pace with inflation over the longer term. To this end, the portfolios are managed as follows:
- An approximate balance is kept between enhancement of capital and income generation.
- A “low risk” approach is adopted in the management of the assets of the Richard Waynforth Trust and a ‘lower end of medium risk’ approach for the Property Charity’s portfolio.
- There is a diversified range of bonds and equities, which are quoted on a recognised investment exchange, and unit trusts and Open Ended Investment Companies (OEICs), which are authorised under the Financial Services and Markets Act 2000. The “type” of each investment and individual investments themselves are suitable to meet the purposes of the Ipswich & Diss Area Meeting Property Charity and the Richard Waynforth Trust.
- Investments within the portfolio comply with the ethical criteria set out in the Ethical Profile Questionnaire supplied by Ethical Screening and signed by the trustees on 22 November 2011. Subsequent updates to the profile questionnaire, including divesting from fossil fuels, have been documented in trustees’ minutes and in the Area Meeting’s Investment Policy. The Area Meeting’s ethical investment criteria are viewed by the trustees biennially.
Both portfolios’ performances are monitored against the returns of the APCIMS Income Index, although this index more likely represents performances of medium risk income portfolios without ethical constraints. The appointed investment manager is a suitably authorised person, within the meaning of the Financial Services and Markets Act 2000, of Rathbone Greenbank.
The investment policy is reviewed every two years, or as required, by the trustees to ensure that it remains compatible with the charity’s objects and requirements, particularly those of the Ipswich & Diss Area Meeting Property Charity and the Richard Waynforth Trust. The investment management services provided by Rathbone Greenbank are also formally reviewed every two years, or at such time as deemed appropriate by the trustees.
## **5 DUE DILIGENCE, RISK MANAGEMENT AND LEGAL COMPLIANCE**
The Area Meeting trustees are the managing trustees of the four Meeting Houses, and Friends Trusts Limited is the holding trustee. The Ipswich & Diss Area Meeting Property Charity is responsible for their building, contents and third-party insurance. The third-party insurance also covers Felixstowe and Woodbridge Local Meetings.
The Area Meeting trustees issue a Compliance with Regulations checklist, which has to be completed annually by Local Meetings with Meeting Houses. These Local Meetings are required to report that they have complied with fire, health and safety, gas and electrical regulations as well as the Disability Discrimination Act, employment procedures and other relevant government regulations. From 2020, Local Meetings have also been asked to report on their measures to support the ecological sustainability of their community activities and management of their land and buildings.
For other identified risks and to ensure legal compliance, the Area Meeting follows its formal policies for safeguarding, equality, grant making, data protection, grievances, disciplinary issues, internal financial controls and financial crime, including a fraud policy, fraud response plan and whistle-blowing procedures.
Trustees have a schedule for formally reviewing all Area Meeting policies annually, biennially or when there is a change in legislation. Trustees also ensure that these policies are provided to employees, self-employed staff and Ipswich & Diss Area Meeting members and attenders, as necessary.
12 of 26
## **IPSWICH AND DISS AREA QUAKER MEETING FINANCIAL STATEMENTS Year ended 31 December 2020**
## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES**
Law applicable to Charities in England and Wales requires the trustees to prepare Financial Statements for each financial year, which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing Financial Statements giving a true and fair view, the trustees should follow best practice and:
- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the Financial Statements; and
- prepare the Financial Statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
The trustees are responsible for keeping accounting records, which disclose with reasonable accuracy the financial position of the Charity and which enable them to ensure that the Financial Statements comply with applicable law and regulations. 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.
On behalf of the board of trustees:
(signed)
## **Elaine Green Clerk to Trustees**
Date: 17 July 2021
13 of 26
## **IPSWICH AND DISS AREA QUAKER MEETING FINANCIAL STATEMENTS Year ended 31 December 2020**
## **To the Trustees of the Ipswich and Diss Area Quaker Meeting**
I report on the accounts of the charity for the year ended 31 December 2020, which are set on pages 15 to 24.
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
- (i) examine the accounts under section 145 of the 2011 Act;
- (ii) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
- (iii) to state whether particular matters have come to my attention.
## **Basis of independent examiner’s report**
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a true and fair view and the report is limited to those matters set out in the statement below.
## **Independent examiner’s statements**
In connection with my examination, no matter has come to my attention:
- a) which gives me reasonable cause to believe that in any material respect the requirements: (i) to keep accounting records in accordance with section 130 of the 2011 Act; and
- (ii) to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act;
- have not been met; or
- b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
(signed)
## **David Stephens FCCA**
13 Newlands Road Tunbridge Wells, Kent TN4 9AS
Date: 17 July 2021
14 of 26
**IPSWICH AND DISS AREA QUAKER MEETING FINANCIAL STATEMENTS Year ended 31 December 2020**
|**STATEMENT OF FINANCIAL ACTIVITIES**|**2020**||**2019**|
|---|---|---|---|
||**Unrestricted**
**funds**
**Restricted**
**funds**
**Endowment**
**funds**
**Total funds**|**Unrestricted**
**funds**|**Restricted**
**funds**
**Endowment**
**funds**
**Total funds**|
|**Notes**|**£**
**£**
**£**
**£**|**£**|**£**
**£**
**£**|
|**Incoming resources**||||
|
**Incoming resources from generated funds**||||
|
Donations and legacies
**2**|94,234
3,733
-
97,967|44,412|2,103
-
46,515|
|
Activities for generating funds
**3**|30,996
5,000
-
35,996|74,028|5,000
-
79,028|
|
Investment income
**4**|5,016
14,044
-
19,060|6,296|17,291
-
23,587|
|**Incoming resources from charitable activities**||||
|
Contributions to conferences|-
-
-
-|-|-
-
-|
|**Other incoming resources**
**6**|22,249
-
-
22,249|23,776|-
-
23,776|
|
**Total incoming resources**|152,495
22,777
-
175,272|148,512|24,394
-
172,906|
|||||
|**Resources expended**||||
|**Cost of generating funds**||||
|
Investment management costs|3,007
-
8,080
11,087|2,988|-
8,129
11,117|
|
**Charitable activities**
**5**|115,383
15,602
-
130,985|107,723|23,182
-
130,905|
|**Governance costs**
**7**|1,098
-
-
1,098|2,217|-
-
2,217|
|**Other resources expended**
**8**|21,979
-
21,979|33,432|-
33,432|
|**Total resources expended**|141,467
15,602
8,080
165,149|146,360|23,182
8,129
177,671|
|||||
|**Net income for year before transfers**|11,028
7,175
-8,129
10,123|2,152|1,212
-8,129
-4,765|
|||||
|Transfers between funds|1,573
-1,573
-
-|-427|427
-
-|
|||||
|**Net income for the year before other recognised**
**gains and losses**|12,601
5,602
-8,080
10,123|1,725|1,639
-8,129
-4,765|
|||||
|**Other recognised gains/losses**||||
|Gains on investment assets|6,158
12,937
49,883
68,978|13,860|23,485
157,584
194,929|
|||||
|**Net movement in funds**|18,759
18,539
149,455
79,101|15,585|25,124
149,455
190,164|
|||||
|**Total funds brought forward**|341,071
823,363
1,147,451
2,311,885|325,486|798,239
997,996
2,121,721|
|
Prior year adjustments|-
-
-
-|-|-
-
-|
|||||
|**Total funds carried forward**|**359,830**
**841,902**
**1,189,254**
**2,390,986**|**341,071**|**823,363**
**1,147,451**
**2,311,885**|
15 of 26
## **IPSWICH AND DISS AREA QUAKER MEETING FINANCIAL STATEMENTS Year ended 31 December 2020**
## **BALANCE SHEET as at 31 December 2020**
|||**2020**|**2020**|**2019**|
|---|---|---|---|---|
|**Notes**|**£**|**£**||**£**
**-**|
|**Fixed assets**|||||
|Tangible assets
**11**|568,595|||568,595|
|
Investments
**12**|1,501,268|||1,442,450|
|||2,069,863||2,011,045|
||||||
|**Current assets**|||||
|Debtors
**13**|7,591|||9,195|
|Cash at bank and in hand|320,326|||298,423|
||327,917|||307,618|
||||||
|**Creditors: amounts falling**
**due within one year**
**14**|-6,794|||-6,778|
||||||
|**Net Current Assets**||321,123||300,840|
||||||
|Total assets less current liabilities||2,390,986||2,311,885|
||||||
||||||
|Unrestricted funds
**15**||359,830||341,070|
|Restricted funds
**15**||841,902||823,364|
|Endowment funds
**15**||1,189,254||1,147,451|
||||||
|**16**||2,390,986||2,311,885|
The accounts were approved by the Board and signed on behalf of the trustees:
(signed)
**Nicholas Wright Trustee and Treasurer**
Date: 17 July 2021
16 of 26
**IPSWICH AND DISS AREA QUAKER MEETING FINANCIAL STATEMENTS Year ended 31 December 2020**
## **NOTES TO THE ACCOUNTS**
## **1. Accounting policies**
## **1.1 Basis of preparation**
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts.
These accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities and with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014.
These are consolidated accounts that include the Area Meeting, the Ipswich and Diss Property Charity, the Agnes Moss Bequest Trust, the Richard Waynforth Trust and the six Local Meetings at Bury St Edmunds, Diss, Felixstowe, Ipswich, Leiston and Woodbridge.
## **1.2 Incoming resources**
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy.
## **1.3 Resources expended**
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Costs of generating funds comprise the costs associated with investment management and the investment property. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the accountancy fees and costs linked to the strategic management of the charity.
All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of resources.
## **1.4 Taxation**
The charity is exempt from tax on its charitable activities.
## **1.5 Accumulated funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Included within unrestricted funds are designated funds, which have been put aside at the discretion of the trustees for specific charitable activities.
Restricted funds are subject to restrictions on their expenditure imposed by the donor or through the terms of an appeal. Endowment funds are permanent; income from these funds is normally unrestricted, except for the Richard Waynforth and Agnes Moss Bequest Endowments.
## **1.6 Investments**
Investments are shown at market value. Differences arising on closing market value are taken to the Statement of Financial Activities as an unrealised movement. Income arising from investments is accounted for on an accruals basis.
## **1.7 Tangible fixed assets**
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life as follows: Freehold property - 2% on cost. However, the trustees consider the valuation of the freehold property to be significantly higher than cost and therefore no depreciation has been provided.
17 of 26
## **IPSWICH AND DISS AREA QUAKER MEETING FINANCIAL STATEMENTS Year ended 31 December 2020**
|**NOTES TO THE ACCOUNTS (continued)**|**2020**
**2019**|**2020**
**2019**|
|---|---|---|
||**£**
**£**||
|**2.**
**Donations and legacies**|||
|Donations|32,063
33,039||
|Gift Aid|4,891
6,839||
|Legacies|41,854
-||
|Other income|19,159
6,637||
||97,967
46,515||
||||
|**3.**
**Activities for generating funds**|||
|Fundraising|-
97||
|Hiring of rooms|35,872
78,868||
|Book and literature sales|124
63||
||35,996
79,028||
||||
|**4.**
**Investment income**|||
|Interest received|542
1,021||
|Dividends|18,518
22,566||
||19,060
23,587||
||||
|**5.**
**Charitable activities**|||
|Wages - wardens, cleaning etc. (Note 10)|46172
41,370||
|Heat, light and insurance (2019 figure corrected)|,
16,248
19,725||
|Property rental|314
2,495||
|Property repairs & maintenance|16,814
13,800||
|Capital repairs|10,762
19,592||
|Furniture & equipment repairs and replacements|5,720
6,085||
|Conference costs (excluding T&S)|1,080
4,343||
|Travel & subsistence|121
1,539||
|Outreach and publicity|979
2,402||
|Sundry administrative costs|2,058
1,114||
|Grants/Loans|30,717
18,440||
||130,985
130,905||
||||
|Number of grants/loans made|37|30|
||||
|**An analysis of the grants is as follows:**|||
|Individuals|8,467||
|Britain Yearly Meeting|8,798||
|Quaker Charities|2,890||
|Non Quaker Charities|10,562||
||30,717||
Grants to individuals are all made from the Richard Waynforth Trust under the terms of that trust (see paragraph 2.2.4 of the Trustees' Report).
The Area Meeting requires all room hirers to have public liability insurance in order to hire the Area Meeting’s premises.
18 of 26
## **IPSWICH AND DISS AREA QUAKER MEETING FINANCIAL STATEMENTS Year ended 31 December 2020**
|**NOTES TO THE ACCOUNTS (continued)**|**2020**
**2019**|
|---|---|
||**£**
**£**|
|**6.**
**Other incoming resources**||
|Receipts as agent - Britain Yearly Meeting|17,659
14,998|
|Receipts as agent - Britain Yearly Meeting Gift Aid|2,669
2,329|
|Receipts as agent - Special Collections|1,921
6,449|
||22,249
23,776|
|||
|**7.**
**Governance costs**||
|Independent Examination|900
1,000|
|Bank charges|-
-|
|Administration|198
1,217|
||1,098
2,217|
|||
|**8.**
**Other resources expended**||
|As agent - Britain Yearly Meeting|17,659
14,998|
|As agent - Britain Yearly Meeting Gift Aid|2,669
2,329|
|As agent - Special collections|1,921
6,449|
|Britain Yearly Meeting - Local Meeting Funds|-270
9,656|
||21,979
33,432|
An analysis of the resources received and expended as acting as agent follows:
|**Acting as agent**|**Received**|**Expended**||
|---|---|---|---|
||**£**|**£**||
|BYM|20,328|20,328|with £7,559 reflected in 2020 creditors|
|Quaker Charities|525|525|with £0 reflected in 2020 creditors|
|Non Quaker Charities|1,396|1,396|with £32 reflected in 2020 creditors|
**9. Trustees** No trustee received any remuneration during this year nor had any personal interest in any contracts or transactions, including related-party transactions, entered into by the charity.
## **10. Employees**
All employees are part-time; the average monthly number of employees during the year was:
|Employed Meeting House wardens and cleaners
Wages and salaries
PAYE and National Insurance
Pension contributions|**2020**
**2019**|**2020**
**2019**|
|---|---|---|
||8|7|
||**£**
**£**
39,857
34,960
3,752
4,294
2,563
2,116||
||46,172
41,370||
No employee’s annual remuneration was £60,000 or more. Redundancy or termination payments of £1,476.84 were made. No employee contracts are with or are paid by a related party. The pension scheme is with The People's Pension and is offered to all employees. Total pay is used as the definition of salary for pension contributions. The Area Meeting and employee both make a 3.5% pension contribution.
19 of 26
**IPSWICH AND DISS AREA QUAKER MEETING FINANCIAL STATEMENTS Year ended 31 December 2020**
## **NOTES TO THE ACCOUNTS (continued)**
## **11. Tangible fixed assets**
**Cost and Net Book Value Freehold property**
At 1 January 2020 and 31 December 2020 568,595
The above amount represents the sum spent on the extension of Bury St Edmunds Meeting House. The four Meeting Houses, six burial grounds, warden’s house in Diss and warden’s flat within Ipswich Meeting House are not shown in the accounts. Although no historical cost is available for these properties, the valuations of the four Meeting Houses, the private house and warden’s flat for insurance purposes in 2020/21 are:
|Bury St Edmunds
Meeting House
1,432,539
Insurance value
Diss
Meeting House
595,771
Insurance value
Diss
Private House
112,411
Insurance value
Ipswich
Meeting House & Warden’s Flat
1,203,474
Insurance value
Leiston
Meeting House
590,384
Insurance value|Bury St Edmunds
Meeting House
1,432,539
Insurance value
Diss
Meeting House
595,771
Insurance value
Diss
Private House
112,411
Insurance value
Ipswich
Meeting House & Warden’s Flat
1,203,474
Insurance value
Leiston
Meeting House
590,384
Insurance value|
|---|---|
|**12.**
**Fixed asset investments**|**Cash**
**Investments**
**Investment**
**Property**
**Total**|
||**£**
**£**
**£**
**£**|
|||
|At 1 January 2020
Additions
Disposals
Revaluation
At 31 December 2020
Historical cost|-
1,207,450
235,000
1,442,450|
||-
-
-
-|
||-
-
-
-|
||-
58,818
-
58,818|
||-
1,266,268
235,000
1,501,268|
||-
856,751
-
856,751|
|||
Investments are valued by reference to listed investments. An investment with COIF Charities Ethical Investment Fund (accumulation units) represents 10.7% of the listed investments.
The investment property relates to 21 St Nicholas Street in Diss and is revalued by the trustees annually at open market value, as advised by Clark & Simpson Estate Agents and with £5,000 added without advice by Trustees in 2020.
|**13.**
**Debtors**|**Total 2020**
**Total 2019**|
|---|---|
||**£**
**£**|
|||
|Gift Aid to be claimed from HMRC|7,559
9,168|
|Other debtors and prepayments|32
27|
|Total|7,591
9,195|
|||
|**14.**
**Creditors: amounts falling due within one year**|**Total 2020**
**Total 2019**|
||**£**
**£**|
|||
|Other creditors and accruals|6,794
6,778|
|Total|6,794
6,778|
20 of 26
**IPSWICH AND DISS AREA QUAKER MEETING FINANCIAL STATEMENTS Year ended 31 December 2020**
## **NOTES TO THE ACCOUNTS (continued)**
|**15.**
**Movement in funds**|**At 1**
**January**
**2020**
**Prior year**
**adjustment**
**Net**
**movement**
**in funds**
**Transfers**
**between**
**funds**
**At 31**
**December**
**2020**|
|---|---|
||**£**
**£**
**£**
**£**
**£**|
|**Unrestricted funds**||
|Bury St Edmunds Local Meeting|26,440
-
28,708
-9,920
45,228|
|Diss Local Meeting|4,313
-
-1,246
-2,849
218|
|Felixstowe Local Meeting|4,242
-
338
-801
3,779|
|Ipswich Local Meeting|58,304
-
3,827
-3,670
58,461|
|Leiston Local Meeting|19,146
-
68
-887
18,327|
|Woodbridge Local Meeting|4,885
-
2,383
-1,387
5,881|
|Area Meeting|9,746
-
-18,328
22,014
13,432|
|Bury St Edmunds MH Maintenance Fund|106,895
-
2,636
-
109,531|
|Ipswich and Diss Property – General|16,906
-
-1,097
-927
14,883|
|AM Meeting House|90,193
-
-103
-
90,090|
||341,070
-
17,186
1,573
359,830|
|**Restricted funds**||
|Agnes Moss Bequest|22,184
-
-1,630
2,000
21,814|
|Richard Waynforth Fund|103,014
-
5,545
-500
108,059|
|Bury St Edmunds MH Maintenance Fund|568,595
-
-
-
568,595|
|Property Charity Recoupment Fund|129,571
-
12,937
927
143,434|
||823,364
-
20,112
-1,573
841,902|
|**Endowment funds**||
|Agnes Moss Bequest|235,000
-
-
-
235,000|
|Richard Waynforth Fund|751,395
-
37,077
-
788,472|
|Property Charity Fund|161,056
-
4,726
-
165,782|
||1,147,451
-
41,803
-
1,189,254|
||2,311,885
-
79,101
-
2,390,986|
|||
The Bury St Edmunds Maintenance Fund consists of unrestricted, but designated, funds and restricted funds held within the Property Charity. The Property Charity consists of unrestricted funds, restricted funds and restricted endowment funds. The restricted endowment fund is invested with Rathbone Greenbank. This portfolio also includes investments for the designated Bury St Edmunds Maintenance Fund and the designated AM Meeting Houses Fund. The trustees have agreed that the income from these Funds’ investments will be spent on capital repairs and maintenance only, and the invested capital will be used only in emergencies.
21 of 26
**IPSWICH AND DISS AREA QUAKER MEETING FINANCIAL STATEMENTS Year ended 31 December 2020**
## **NOTES TO THE ACCOUNTS (continued)**
Net movement in funds, included in the above, is as follows:
||**Incoming**
**resources**
**Resources**
**expended**
**Gains and**
**losses**
**Net**
**movement**
**in funds**|
|---|---|
||**£**
**£**
**£**
**£**|
|**Unrestricted funds**||
|Bury St Edmunds Local Meeting|66,287
37,579
-
28,708|
|Diss Local Meeting|11,134
12,380
-
-1,246|
|Felixstowe Local Meeting|3,193
2,855
-
338|
|Ipswich Local Meeting|21,137
17,310
-
3,827|
|Leiston Local Meeting|16,307
16,239
-
68|
|Woodbridge Local Meeting|11,459
9,076
-
2,383|
|Area Meeting|18,163
36,491
-
-18,328|
|Bury St Edmunds MH Maintenance Fund|1,060
601
2,177
2,636|
|Ipswich and Diss Property – General|2,779
5,680
1,804
-1,097|
|AM Meeting House|973
3,253
2,177
-103|
||152,492
141,464
6,158
17,186|
|**Restricted funds**||
|Agnes Moss Bequest|8,766
7,136
-
-1,630|
|Richard Waynforth Fund|14,012
8,467
-
5,545|
|Bury St Edmunds MH Maintenance Fund|-
-
-
-|
|Property Charity Recoupment Fund|-
-
12,937
12,937|
||22,778
15,603
12,937
20,112|
|**Endowment funds**||
|Agnes Moss Bequest|-
-
-
-|
|Richard Waynforth Fund|-
8,080
45,157
37,077|
|Property Charity Fund|-
-
4,726
4,726|
||-
8,080
49,883
41,803|
||175,270
165,147
68,978
79,101|
|||
|**16.**
**Analysis of net assets between funds**|**Unrestricted**
**funds**
**Restricted**
**funds**
**Endowment**
**funds**
**Total**|
||**£**
**£**
**£**
**£**|
|Fund balances at 31 December 2020 are:||
|Fixed assets|-
568,595
-
568,595|
|Fixed asset investments|110,521
201,493
1,189,254
1,501,268|
|Current assets|256,104
71,813
-
327,917|
|Creditors: amounts due within one year|-6,794
-
-
-6,794|
||359,831
841,901
1,189,254
2,390,986|
22 of 26
## **IPSWICH AND DISS AREA QUAKER MEETING FINANCIAL STATEMENTS Year ended 31 December 2020**
## **NOTES TO THE ACCOUNTS (continued)**
## **17. Local Meeting and Linked Charity Statement of Financial Activities, Balance Sheet and Summary Finances**
||**Bury St**
**Edmunds**
**LM**
**Diss**
**LM**
**Felixstowe**
**LM**
**Ipswich**
**LM**
**Leiston**
**LM**
**Wood-**
**bridge**
**LM**
**Area**
**Meeting**
**Agnes**
**Moss**
**Richard**
**Waynforth**
**Property**
**Charity**
**Total**|
|---|---|
||**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**|
|||
|Income|66,287
11,134
3,193
21,137
16,307
11,459
18,163
8,766
14,012
4,812
175,270|
|Expenses|-37,579
-12,380
-2,855
-17,310
-16,239
-9,076
-36,491
-7,136
-16,546
-9,534
-165,146|
|Gain/loss on investments|-
-
-
-
-
-
-
-
45,156
23,820
68,976|
|Transfers within funds|-9,920
-2,849
-801
-3,670
-887
-1,387
22,014
-2,000
-500
-
-|
|Surplus for year|18,788
-4,095
-463
157
-819
996
3,686
-370
42,122
19,098
79,100|
|||
|Brought forward balance|26,440
4,313
4,242
58,304
19,146
4,885
9,746
257,184
854,409
1,073,216
2,311,885|
|Prior year adjustments|-
-
1
-
-
-
-
-
-
-
1|
|Closing balance|45,228
218
3,780
58,461
18,327
5,881
13,432
256,814
896,531
1,092,314
2,390,986|
|||
|||
|Fixed assets|-
-
-
-
-
-
-
-
-
568,595
568,595|
|Investments|-
-
-
-
-
-
-
235,000
846,532
419,736
1,501,268|
|Cash|43,687
1,187
3,219
57,771
17,926
7,794
12,946
21,814
49,999
103,983
320,326|
|Debtors|2,090
577
561
1,251
786
1,644
1,386
-
-
-
8,295|
|Creditors|-549
-1,546
-
-561
-385
-3,557
-900
-
-
-
-7,498|
|Net Assets|45228
218
3,780
58,461
18,327
5,881
13,432
256,814
896,531
1,092,314
2,390,986|
The total debtors and creditors figures both include an amount of £1,104 being the sum of amounts owed by Woodbridge and Diss Local Meetings to the Area Meeting.
23 of 26
**IPSWICH AND DISS AREA QUAKER MEETING FINANCIAL STATEMENTS Year ended 31 December 2020**
## **IPSWICH & DISS AREA QUAKER MEETING MANAGEMENT INFORMATION**
## **FOR THE YEAR ENDED 31 DECEMBER 2020**
**The following pages do not form part of the statutory financial statements.**
24 of 26
## **IPSWICH AND DISS AREA QUAKER MEETING FINANCIAL STATEMENTS Year ended 31 December 2020**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES**
||**Unrestricted**
**funds**
**Restricted**
**funds**
**Endowment**
**funds**
**Total 2020 **
**£**
**£**
**£**
**£**
24,867
-
-
24,867
5,036
-
-
5,036
4,891
-
-
4,891
41,854
-
-
41,854
17,586
1,573
-
19,159
-
2,160
-
2,160|**Total 2019**|
|---|---|---|
|**Incoming resources**||**£**|
||||
|**Voluntary income**|||
|Contributions for LM funds||25,812|
|Contributions for AM funds||5,124|
|Gift Aid reclaimed||6,839|
|Legacies received||-|
|Grants & donations||6,637|
|Other sources||2,103|
||94,234
3,733
-
97,967
-
-
-
-
30,872
5,000
-
35,872
124
-
-
124|46,515
97
78,868
63|
||||
|**Activities for generating funds**|||
|Fundraising|||
|Hiring of rooms|||
|Book and literature sales|||
||30,996
5,000
-
35,996
-
-
-
-
426
116
-
542
4,590
13,928
-
18,518|79,028
-
1,021
22,566|
||||
|**Investment income**|||
|Rents and expenditure recovered|||
|Interest received|||
|Dividends|||
||5,016
14,044
-
19,060
**ctivities**
-
-
-
-|23,587
-|
||||
|**Incoming resources from charitable a**|||
|Contributions to conferences|||
||-
-
-
-
17,659
-
-
17,659
2,669
-
-
2,669
1,921
-
-
1,921|-
14,998
2,329
6,449|
||||
|**Other incoming resources**|||
|Contributions for BYM funds|||
|Gift Aid for BYM|||
|Receipts as agent - special collections|||
||22,249
-
-
22,249|23,776|
||||
|**Total incoming resources**|152,495
22,777
-
175,272|172,906|
25 of 26
## **IPSWICH AND DISS AREA QUAKER MEETING FINANCIAL STATEMENTS Year ended 31 December 2020**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES (continued)**
||**Unrestricted**
**funds**
**Restricted**
**funds**
**Endowment**
**funds**
**Total 2020 **
**£**
**£**
**£**
**£**|**Total 2019**|
|---|---|---|
|**Resources expended**||**£**|
||||
|**Investment property costs**|-
-
-
-|-|
||||
|**Investment management costs**|3,007
-
8,080
11,087
46,172
-
-
46,172
14,075
2,173
-
16,248
314
-
-
314
16,814
-
-
16,814
5,800
4,962
-
10,762
5,720
-
-
5,720
1,080
-
-
1,080
121
-
-
121
979
-
-
979
2,058
-
-
2,058
22,250
-
-
22,250
-
8,467
-
8,467|11,117|
||||
|**Charitable activities**|||
|Wages – wardens, cleaning etc.||41,370|
|Heat, light and insurance||19,725|
|Property rental||2,495|
|Property repairs & maintenance||13,800|
|Capital repairs||19,592|
|Furn. & equip. repairs and renewals||6,085|
|Conference costs (excl T&S)||4,343|
|Travel & subsistence||1,539|
|Outreach and publicity||2,402|
|Sundry administrative and other costs||1,114|
|Grants/loans to institutions||5,485|
|Grants to individuals||12,955|
||115,383
15,602
-
130,985
900
-
-
900
-
-
-
-
198
-
-
198
1,098
-
-
1,098|130,905|
||||
|**Governance costs**||1,000|
|Accountancy||-|
|Bank charges||1,217|
|Administration||2,217|
||17,659
-
-
17,659
2,669
-
-
2,669
1,921
-
-
1,921
-270
-
-
-270
-
-
-
-
21,979
-
-
21,979||
|||14,998|
|**Other resources expended**||2,329|
|BYM contributions||6,449|
|BYM Gift Aid||9,656|
|Special contributions||-|
|BYM – Local Meeting Funds||33,432|
|Other|||
||141,467
15,602
8,080
165,149|177,671|
||||
|**Total resources expended**|11,028
7,175
-8,080
10,123|-4,765|
||||
|**Net income**|14,075
2,173
-
16,248|19,725|
26 of 26