NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS
SOCIETY OF FRIENDS
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their annual report and financial statements for the year ended 31 December 2024.
The financial statements have been prepared in accordance with the accounting policies set out in not8 1 to the
financial statements and comply with the Charity's governing document, Ihe Charities Act 2011 and "Accounting and
Reporting by Charities: Statemenl 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
About Quakers
Norfolk & Waveney Area Quaker Meeting is one of the 70 area meetings of Quakers in Britain. We have no
hierarchy. None of us has any status above another. This provides us with a resilience which has ensured the
survival and relevanGe or our movement since it was founded in the mid-1600s.
Quakers share a way of life and discover our unity in worshipping together. We are known best for our commitment
to peace. simplicity, equality and truth.
We are formally known as The Religious Society of Friends. We are religious, but not a religion.. we welcome people
from all faith backgrounds (and none} who want to explore and deepen their spiritual and human experience. We
are a society: we offer the chance to be part of a community of people who opt tor simpler lives and who seek "to
know one another better in the things that are etemal.. We are friends.. we recognise a fundamental equality of
dignity in every person. To put it another way, we see "that of God in everyone"
For Quakers, the Area Meeting is the level at which membership is held, though we usually worship in Local
Meetings. In th@ Norfolk & Waveney area we have ten Local Meetings.
The Area Meeting and its trustees work to support the affairs of the Society and to support Local Meetings. The
main ways we do that are set out in our governing document. which is explained in the following pages.
Our benefit to the public
The trustees confirm that we have complied with our duty under the Charities Act 2011 to have due regard to the
public benefit guidance published by the Charity Commission.
Meetings for worship were held every Sunday at each of our Local Meetings. Some Local Meetings also hold
midweek meetings. All of these were open to the public and provide opportunities for worship and spiritual growth.
Local Meetings within the Area Meeting support religious education in local schools. There is chaplaincy support at
local prisons. Our meeting houses are available for letting to local groups at modest cost, which helps to build and
reinforce the community.
Our spiritual experience lèads us to support those in our communilies who are disadvantaged. The many ways in
which we do this are explained in the following pages which set out the activities of our trustees and Local Meetings.
This report shows how our resources have been applied and how the public benefits from our work. This year has
been a particularly challenging one financially.

NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS
SOCIETY OF FRIENDS
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Social investment
Wa hold real property and listed financial securities as investments which provide income to further our aims and
objectives. Our investment policy with regard to financial securities is summarised later in this report.
The real property we hold is within the are of Norfolk & Waveney Area Meeting. Where possible, we use this
property both to generate income and lo fulfil a social purpose. This includes making property available in central
NO￿lCh for use by the Salvation Army as an adult rehabilitation centre and to Action for Children for use as a
children's nursery. Our residential property is made available at affordable rents. We have completed the
redevelopment of our buildings in central Norwich into flats for young people leaving care.
Grant-making
Grants are made in accordance with our governing document - either lo fund the work of Britain Yearly Meeting or
olher Quaker organisations, or to fund concerns that Local Meetings, the Area Meeting or Britain Yearly Meeting
have adopted or agreed to support.
Volunteers
Our Society relies heavily on the voluntary service of our members and those who attend our meetings for worship,
although we are looking at bringing in more paid providers, for instance for book keeping and administration. All our
meetings for worship are made possible by the ministry and service of our members, which is unpaid. Virtually
everyone involved in the life of the Society plays a part to some degree in sustaining our worshipping communities.
It is nol possible to measure with any reasonable degree of reliability the value of volunteer activity to the Society,
The varieties of activity and se￿iCe undertaken by volunteers include..
Arranging weekly meetings for worship, ensuring that Ihese are held in accordance with Quaker faith &
practice and ministering spiritually and practica51y to those who attend;
Providing for the pastoral care of individuals and attenders, as well as those who are in prisons in our area.
Making arrangemenls for marriages and funerals, liaising with the civll authorities and malntaining our
burial grounds.,
Attending to the physical maintenance. safety and lawfulness of our meeling houses as public place5 of
worship and as safe paces for all, including the young and vulnerable
Administering and maintaining the organisation. finances and governance of the Area Meeting and
representing it to Britain Yearly Meeting, its committees and bodies.

NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS
SOCIETY OF FRIENDS
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Achievements and performance
Review of activities in 2024
Isham
A blended Meeting for Worship is held every Sunday (10'.30am)- On the second Wednesday there is an in-person
Meeting for Worship 112 noon, for half an hour) and on the fourth Wednesday there is an in-person Meeting for
Worship in Holt {2:30 pm, for half an hour)
There is a monthly study group meeting on the second Sunday of each month which is also held on-line and we are
establishing regular after meeting study session altemating with a shared lunch.
What has occupled our attention as a meeting:
We have welcomed visitors and Pastoral Friends have visited and helped Friends in their own homes.
What outreach we've engaged in:
Mend with Friends, a non Quaker initiative, continues to meet in the meeting house every first Saturday of the
month with our refill station downstairs. The refill stall held on Ihe first Saturday of the month to coincide with the
Aylsham Farmer's Market has continued successfully providing a point of conlact with the community. Donations in
kind and financial are also made to the local FOOD BANK.
The Meeting House was a watering stoplcheckpoint during the annual Norfolk Churches sponsored cyclelwalk. The
Craft Group meet once a month with a mix of Quakers and visitors.
We have also hosted and attended Lent Lunches.
How we've been involved in our local ¢ommunities".
W8 have been involved with the Aylsham Climate Emergency group supporting the provision of Tetra boxes for the
collection of blister pa¢ks, the number of which has grown hug8ly in the last year.
We have been part of Churches Together in Aylsham.
How we've made our buildings available to the community:
Our building has been hired by many different groups, art, yoga, counselling and music, all appreciating what it
offers.
How we've been svpporting Quaker work elsewhere:
Members and attenders have been involved nationally with..
Yearly Meeting Clerk's support group
Meetings for Central Norninations Committee
Meelings of the Group to Review Central Structures
Meetings for Sufferings
Quaker Voices for Mental Health
Responding to requests from other meetings for donations
Yearly Meeting Arrangements committee
As individuals:
Attended Trustee meetings of The John Horniman Children's Trust and The Richard Waynforth Trust
Attended various meetings of the search committee for QUIET
Attended meetings of Trustees of StAndrew's school Aylmerton
Attended Truslee meetings of QUIET at the Brumana School in Lebanon
Written articles for The Friend
Contributed lo Friends Quarterly
Gave a talk on accompaniment, attended and contributed to The World Day of Prayer held at the Emmanuel Church
Edited 'Memories of Woodbrooke, and attended book launch.
Altended vigils for Gaza.
Visited other Meeting Houses in the country.

NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS
SOCIETY OF FRIENDS
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Beccles
What has occupied our meeting.
Our two weekly Meetings for Worship, one on Sunday and the other on Friday, have, as usual, occupied our
Beccles communily. We have maintsined our Zoom link for Friends, otherwise prevented, to join us online.
Each
month we have supported a charity chosen by the meeting (apart from one monlh set aside for donations to our
Meeting).
We continue our twice monthly discussion groups covering diverse spiritual and social cOn￿rnS,
sometimes led by our own membership bul also inviting outside speakers. We have organised or been involved in
Outreach in the Meeting House and in the town.
There has also been purely practical work which required our attention. In Spring our kitchen was deep cleaned
and painted and the study cleared of those things that shouldn't be therel The Librarians, too, sorted and indexed
our books. Our thermostat was turned down a degree or two to help with mounting energy bills.
What Outreach we've been engaged in
Beccles Quakers has a small outreach group who receive strong support from the meeting in general. During 2024
Beccles Quakers were engaged in a number of outreach activities.
For 6 months we trialled a monthly Open House event for the Quaker-curious. We opened the meeting house for
an hour or so before our Friday meeting and Invlted the publlc In to join us for tea, cake and to ask any questions
they may have had about Quakers. Whilst we managed to attract very few people to this event, we found it to be a
really special time for inreach.
Our Iwice-monthly Friday discussions continued throughout 2024. In organising these discussions, the outreach
group is always keen to ensure that as well as being interesting and stimulating subjects for Friends, the topics
would also be appropriate for those new to Quakers. Most of these discussions were led by members of the
meeting however we were also pleased to have been able to welcome three outside speakers.. a lip reading teacher
who came to raise awareness about Deafness. a local Baha'i who came to tell us about her faith and some
representatives of a local charity, 'Emmaus', who came to speak about their recent pilgrimage.
Throughout the year the Beccles Quakers website and Facebook page have been kept up to date and, frequently,
new and relevant posts and articles have been added.
The newsletter continued to be circulated regularly,
featuring posts, news from the meeting and beyond and upcoming events. 11 could be requested by a link on the
website.
How we are involved in our local communities
In 2024 Beccles Quakers teamed up wilh Beccles library to organise Beccles Pride. Whilst the planning and
arrangements were made by the outreach group, the event was exlremely well supported by members of the
meeting. Many Beccles Friends volunteered to play music or give spoken word performances al the event, and one
crafty Friend organised and ran a craft stall. This same Friend led the meeting and a group of young people from
the library in making a beautiful Pride banner, which will be treasured and used for many years to come.
We are part of the local Christians Together and in January, two of our members led one of the seNices in the Week
of Prayer for Christian Unity which was organised in 2024 by the WestAfrican Nation of Burkina Faso.
We held a Peace Vigil in Be¢cles town centre.
We provided hospitality in September for the annual Ride and Stride Event for bikers and walkers and included a
display to mark the anniversary of the birth of George Fox.
Some of our members visited the Broome Mosque and Meditation centre - to affirm solidarity after the summer riots.
How we've made our building avallable to the Community.
Local groups continue to use our building and we make our best efforts to ensure that there are none that are in
conflict with our Quaker testimonies e.g. our peace testimony. In 2023 OLtr aim was to increase Ihis use which we
have done. It is pleasing that our space is used by individuals and groups which, in many ways add to Ihe wellbeing
of those who use it.
How we've been supporting Quaker work elsewhere
Our Quakar life r&p is available lo attend councils on behalf of Norfolk & Waveney Area Meeting.
We made our usual yearly donation to British Yearly Meeting and Quaker Social Action {which though not actually a
Quaker organisation was started by Quakers and still run along Quaker lines.
The member of the Discovering Quaker t@am attended regular meetings and helped provided the technical support
for their weekly Tuesday night 'Quaker Lives, Zoom sessions.
A member hosts anothor meeting's zoom Meeting for Worship once a month to enabla the regular zoom host to
worship, free of responsibility.

NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS
SOCIETY OF FRIENDS
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Another gave ongoing support in helping with the Area Meeting finance operation
We also have Friends who are Area Trustees.
As Individuals
When not involved with events arranged by Beccles Meeting, several Friends take part in local initiatives which
include care of nature and raising awareness of environmental issues or taking part in musical activities and
performances often in aid of charity.
Great Yarmouth
Meetings for Worship
We enjoyed being together for Meetings for Worship {MtW) every Sunday and welcomed some new attenders and
visitors. The avérage number altending was eight. On the first Sunday of each month one or two Advices and
Queries were read during Mfw. The same Advices and Queries were also sent via email to everyone on the
meeting's list.
The Meeting House was open for Heritage Open Day on 9th September and, on 15th December we invited friends
and family to join us for Mfvv and, or for festive refreshments afteNards. There were fifteen at Mfw that day.
What has occupied our attention as a meeting?
We were always pleased to have news of any Friends not at Mfw. and after each Mfw we shared news of Friends.
We had kno m8etings for business, one in March, when we agreed to open the Meeting House {MH) for Heritage
Open Day (HOD) and to have the north wall of the garden repaired. At the other business meeting. in October, we
heard the report of the HOD and made plans for Christmas and Caroline Tisdall IAM Trustee for health & safety)
introduced the newArea Meeting Health and Safety Policy and manual.
What outreach we've engaged in
The MH was open for HOD on 7th September, about 100 visitors attended. Many enjoyed the garden and w&re
interested in the MH as well as Quaker worship.
The time of Mfw and contact details for the meeling are published in the Great Yarmouth Mercury every Friday.
How we've been involved in our local communities
Three Friends are involved in Great Yarmouth Inter Faith and Belief Network. Some members of the Network were
invited to and attended the pre- Christmas Mfw.
The members of our ministry and pastoral team met with the teams in Beccles and Pakefield Local Meetings Ihree
times, once in Great Yarmouth and once in Pakefield and once in Beccles meeling houses.
New members
Katy Adams was welcomed into membership at the NovemberArea Meeting.
Deaths
Martin Milner was at one time an occasional attender. He died on 13th January, his funeral was 7th February in
Cantley.
David Kelf died 16th June, funeral 22nd July in the Meeting House. David was an attender of this Meeting for many
years. He was a member and, at one time, vice-chairman and librarian of the Great Yarmouth Inter Faith and Belief
Network. He was one of the first members of the Gorleston Park Run and he was also very knowledgeable about
the intricacies of labyrinths and the mysterie5 of ley lines.
How we've made our buildings available to the community
The Great Yarmouth Bagpipers use the MH one evening a week to practice.
How we've been supporting Quaker work elsewhere
As a Meeting.. We support Quaker work not only by individual giving but with an annual collection for BYM to be
used where most needed.
Individuals: One Friend has continued to do some work online with Restoring Relations (a Quaker Recognised
Body)

NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS
SOCIETY OF FRIENDS
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Kin
What has occupied our attention as a Meeting:
We are still a relatively small worshipping group meeting regularly both in person and online every Sunday, and
online on Wednesdays.
We have a shared vegetarian lunch bi-monthly, sometimes with an invited speaker or topic for discussion.
We hold a shared reading group monthly. Participants take turns to bring an example of their reading to share wilh
others.
We continue to run an Experiment With Light Group. This meets monthly, offering a guided meditation and period of
reflection and sharing. The meetings are almost always online, enabling participalion from across Ihe Area Meeting.
We have time at the end of Sunday worship lo uphold people affected by armed conflicls around the world
in
Ukraine, in Yemen, in the Sudan, in the Middle East, Gaza and in many other locations. Individuals also take action
in Iheir own ways.
We maintain the Meeting House to ac¢ommod8te our own meetings and events and make rooms available for hire
to community groups. We added smart controls to our heating system to match our lettings pattern, and to be more
environmentally friendly. Our internet neljmork has been improved to belter facilitate hybrid meetings.
Thanks to the work of one of our Friends, our garden is looking very loved and cared for. It provides a welcoming
and beautiful entrance to the building for all our visitors who use the bullding.
What outreach we've engaged in:
We opened our premises as usual on Heritage Open Day and welcomed about 80 visitors. We display Quaker
information as well as information about the hislory of the building, and Quakers are always available to engage
visitors in conversation and respond to enquirres.
The local meeting is on the Churches Together rota for contributing short articles for the Thought for the Week slot
in the local newspaper.
In our outrèach into the community, Kings Lynn Meeting continues to uphold and sponsor Companions in
Bereavement which meets weekly to support anyone who is grieving, no malter how long ago the bereavement may
have taken place. This provides a face-to-face social forum, as well as one-to-one support.
How we've been involved In our local communities:
The local meeting was invited as usual to conlribule a reading to the Holocaust Memorial Day Event held in the
Town Hall. We provided a reader and a reading and other Quakers also attended.
One of our members hosts an ecumenical House Group for worship, discussion and a shared meal.
We hosted the Norfolk Churches Trust Annual Bike Ride.
We offered hospitality on Kings Lynn Heritage Open Day.
We have an ongoing relationship with West Norfolk Churches Together forum and their various projects in the
community.
How we've made our buildings available to the communlty .
We have regular lettings throughout the week, with four different rooms available to accommodate many kinds of
groups. Leltings during 2024 included Buddhists, Pagans, the WEA, a private counselling service, Companions in
Bereavement, a fostering service and a youth advisory service.
How we've been supporting Quaker work elsewhere:
We hosted the Area Meeting in May, as a blended meeting. We have adapted our zoom link to be more inclusive for
people with different abilities.
Some of us attend Area Meeting regularly or more sporadically.
One person attended Yearly Meeting.
Our members serve in a number of Area Meeting roles: on the Trustee body. on Nominations, as Registering Officer
for marriages. The Area Meeting's representative on Meeting for Sufferings comes from our meeting, which
ensures our contact with Quaker activity nationally.
One member is on the nationa5 committee revising our book of discipline, Quaker Faith and Practice.

NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS
SOCIETY OF FRIENDS
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Individuals-
Our Meeting House contains within it a self-conlained flat which is let to one of our members thus meeting the
housing need of one member of our community.
Individual members are involved in a range of organisations and activities responding to social need in the
community, for example, the Purfleet Trust supporting homeless, the Night Shelter, Cruse, healing groups and the
Quaker Fellowship of Healing
North Walsham
During 2023 Meeting for Worship was held every Sunday at North Walsham Friends Meeling House. with usually
between 5 & 10 Friends & attenders present each week. We also held a Business Meeting regularly these were
well attended with Flflriends taking an interesl in the life of our Meeting.
We had occasional visits from Friends from other Meetings, & from people who were on holiday in the area during
the summer months.
We held two Sales, in May & November, which were well attended. Donations at these events were split equally
between our Meeting House funds and national charities.
In addition, we opened the Meeting House in September for the Norfolk Churches Trust sponsored Cycle Ride.
We also supported a number of charities with our monthly collections, & collected items for the local foodbank.
Various local groups have hired the Meeting House throughout the year, contributing to the life of the Meeting both
financially & splritually. The hirers tell us of their enjoyment of using our peaceful building, & of their gratitude for
our welcome.
We have continued our participation with the North Walsham Churches Together, with a representative of our
Meeting attending as many of their gatherings as possible.
In 2023, significant repair work had to be undertaken on the flooring of the Meeting House, both near the main
doors, & by the back wall.
During the year we lost 2 of our oldest & longest-standing members .' Jack Richards & David Correa-Hunt. They are
both sadly missed. We held celebrations of their lives for both, and planted a tree for each of them near the Meeting
House, in their memory.
NonNich
Much of the time and energy of Norwich Meeting in 2024 was taken up with two things.. (1 } The future or the
Meeting and whether we should remain in our present Goat Lane Meeting House,. and <2) Completion of building
improvements.
The Goat Lane Meeting House has a fine heritage and we hope to celebrate its bicentenary in 2026. As well as the
Quaker use, many community groups use the premises during the week and evenings at affordable rates. We have
reviewed our oplions at several Business Meetings over the year. Those deliberations have been helped by two
Saturday morning workshops at either end of the year- in January 2024 land January 2025)- allowing time and
space to concentrate on these issues. We have established that OLtr leading preference is to remain at Goat Lane.
But it is a large listed building with complex maintenance demands. It remains to be seen whether we can find the
money and volunteer resource to sustain it. It is a dilemma familiar to many Meetings and other faith groups.
In November improvemenls were completed so as to enhance the original gallery to the main Meeting Room as a
self-contained meeting space. This has been achieved by constructing a new gallery wall, which has reduced noise
transfer belween the spaces lo near zero and has significantly reduced heat loss from the main Meeting Room.
Both spaces have benefited from redecoration.

NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS
SOCIETY OF FRIENDS
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
We found time and eneryy for other initialives. Quakers continue to attend monthly peace vigils and held a stall at
the annual NoNich Peace Camp. We supported the Lakenheath Alliance for Peace.
Outreach initiatives have continued strongly. We successfully applied for a grant for a wardened warni space, open
to all, on Sunday afternoons over the winter. We have experimented with holding an open-air meeting to good
effect. Friends held a winter fayre at the end of November, which drew in several of the community groups who use
our building, was generally well attended and raised a tidy sum to help with running costs.
Our number of regular hirers (groups that use the building at leasl once a month) steadily grew, although our overall
list of hirers was down slightly. We also have three external hirers of car parking spaces contribuling to our income.
Foodcycle, Norwich International Youth Project and Narcotics Anonymous are examples of hirers who continue to
use the premises and moet particular needs of less advantaged members of the community.
We continue to attract aboul 35 Friends to Sunday Meetings and 20 lo the midday Wednesday Mèetings. Our
Childr8n's Meeting is well supported. Friends continue to contribute generou51y to a food bank collection in support
of a local primary school and those donations are much appreciated.
We again warmly acknowledge with thanks the work of our part-time Meeting House Manager and all the
volunteering hours by members of the meeting, without which none of these initiatives would be possible.
Pakefield
What has occupied our attention as a Meeting.
Meeting for Worship is held each Sunday at 10.30am. We average about a dozen attending, plus two children. We
follow the advice of the annual report by Churches Conservation Trust regarding the maintenance and repair of the
Meeting House. and the premises are kept in good order. Following one of our members being taken ill during
Meeling, we instigated a voluntary, secure system for holding emergency contacts. Some of us undertook some
basic FirstAid Training, which was generously funded by one of our members. Pat Peters has been offering a
monthly poetry group, which is very popular.
What outreach we've been engaged in?
The Meeting House was open in September 2024 as part of the Suffolk Ride and Stride, offering hospitality and
information on Quakers to the called.
How we've been involved in our local communities
As well as the above, individuals volunteer in the community and have supported The Samaritans, Pakefield
Coastwatch, and Singing for Health.
How we've made our buildings available lo the community
Our premises are currently hired for several sessions a week at reasonable rates, currenlly to amateur theatre
groups and a yoga group.
How we've been supporting Quaker work elsewhere:
Our Ministry and Pastoral Care Team meet three limes a year with M&PC Friends in Yarmouth and Beccles
Meetings for mutual support. We gave £1000 to ourArea Meeting.
As a Meeting:
For the past few years we have donated to the Quaker Social Action Christmas appeal who conlinue their work in
East London.

NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS
SOCIETY OF FRIENDS
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Sherin
ham
What has occupied our attention as meeting
The issues facing all small Quaker Meetings of numbers, energy levels and covering roles. We have completed a
discernment process to help Area Meeting during financial difficulties, as well as 8 donation of £5,000, the 'Copper
Roof repair reserve, of £44,700 was made available as a loan until Jan 2026 in the first instance with option to
extend further if needed. We completed a discernment process to determine what to do with a surprise 'residual'
legacy from Hilda Smith, being the sale of shares in De Beers Consolidated Mines Ltd. Our process led us to look at
returning money lo the communities harmed by mining for gold and diamonds in Southern Africa, specifically in
Zimbabwe, which we achieved through funding projects to be delivered by Peace Works Zimbabwe, Pradical Aclion
and The Tear Fund (toilet twinning). The balance of the money was given to Quaker Social Action. Gaza-
fundraising for relief aid during conflict with Israel
What outreach we've engaged in and how we've been involved in our local communities
Sustainable Saturday events programme. Participation in an exhibition at the Mo Museum on Fishermen & Faith,
wilh a display and a lalk on Quakers in Sheringham. Remembrance Sunday, while poppy wrealh laid at war
memorial ceremony. Participation in the communily Environment evenl co-ordinateLI by Sherin9ham Methodist
Church, on topic of sustainability.. a stand showing examples of up-cycling garments & a talk on 'reducing the
environmental impact of your wardrobe,. Participated in Internalional Peace Week.
How we've made our bulldings available to the community
We revised our Information leaflet for hiring and maintained a competilive hiring rates to attract community users.
We redecorated part of building (side room and toilets) transforming the space to enhance experience for hirers as
well for Quakers
How we've been supportSng Quaker work elsewhere
See the Hilda Smith legacy above. Special collections held to benefit QPSW, QUNO and The Peace Museum,
Purple Fields Production. Sheringham Food Club, Client Earth
Individuals
Sheringham Friends have been active across their communilies through their own concems, including: litter picking
and beach cleans,. conservation work; participation in local and national election campaigns in support of candidates
who's agendas fit with Quaker concerns. volunteering in community food-banks., charity shops and local museum,
sharing musical talents for the enjoyment of others., volunteering as a Samaritan., support for and in Ukraine,.
participation in local oral history project, recording experiences and memories for posterity.
Wells
During 2024 the numbers attending meetings diminished. This was due to failing health, moving into residential Gare
and on6 faithful Friend died. Sadly, some Friends have found that the meeting no longer satisfies their spiritual
needs. However. we also welcomed two new enquirers who began attending on a fairly regular basis and
participating in meeting activities. We have attenders who are members of other faith groups but fine Quaker
worship enriches Iheir spiritual life and they enjoy the fellowship they find with us. Throughout the year we
welcomad holiday makers to th8 meeting.
We continue to hold regular Sunday mornlng and Thursday aflemoon Meetings for Worship.
We aimed to hold a discussion meeting once a month and occasional shared lunches.
Some of us actively participated in Area Meeting and National Quaker events. We have also supported the Wells
and District Churches Together group. We are a disperse group,. however each of us is involved in our own
locallhome religious community.

NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS
SOCIETY OF FRIENDS
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Our room lettings have remained negligible. Our holiday accommodation continued to be let at some time in most
months and refurbishments during the year have improved what we have to offer.
Outreach durtng the year took the form of an event at the meeting house and a stall on the Buttlands during
Carnival Week. At the end of May an outreach afternoon organised by two Friends include a recording of 'The Fire
and the Hammer, a small exhibition on George Fox and Quakers and tea. This was well altended. In August we
participated in the town carnival with a stall which included outreach material.
We have continued to be a witness to Quaker worship in W8lls-next-the-Sea throughout 2024.
mondham
During 2024 we have continued to hold our regular Sunday meetings for worship in our rented room at the
Methodist Church. We use Zoom to allow those for whom attending meeting in person is not possible. We have
between 6 and 12 people at meeting. We keep in touch with around 30 people through our weekly newsletter. We
share a reading, news of the current Special Collection and forthcoming events as well as news of Woodbrooke,
Friends House and other Quaker and non Quaker organisations. Friends take a turn at choosing the readings that
we hear durtng our meeting for worship, using Advices and Queries, Quaker Faith and Practice and other SOLFrces.
Twice a month wa hold midweek meetings (known as Garden Meetings because that is how they began during the
time of Covid restrictions) in each oÉher's homes or gardens. We have a meeting for worship for 30 minutes,
followed by refreshments and lively conversation. We also have occasional shared lunches on a Sunday after
meeting and both these evenls enable us to get to know each other better.
Although we have not involved ourselves as a gFOUP in outreach. indFvidual men7bers do support local charitable
activities. We use our surplus funds and our Special Collections to support local, national and international causes,
both Quaker and non-Quakgr.
10-

NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS
SOCIETY OF FRIENDS
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Financial review
Principal funding sources
Our principal funding sources are..
contributions and donations from members of the Society, taking advantage of Gift Aid & GASDS when
possible;
income from the hire of Our meeting houses and premise5 to local community groups.,
returns from funds invested responsibly in financial instruments.,
rent from properties put to social use in the area of Norfolk & Waveney Area Meeting.
These resources support the work of the Area Meeting by:
funding the maintenance of meeting houses as public places of worship.,
conlributing financially to concerns Quaker Meetings have adopted or agreed to support;
supporting members of the Area Meeting with the costs of learning and training to take on the wide variety
of responsibilities borne in seNice to the Society and society more widely.
paying for the organisation, governance and management of the Society's affairs and spreading the
message of Quakers.,
financing the grants and contributions we make to Britain Yearly Meeting, Quaker United Nations Office,
Friends Therapeutic Trust (Glebe House), Woodbrooke and others to spread the message of Quakers and
alleviate suffering here and elsewhere.
Our financial position
At the beginning of 2024 Trustees found themselves faced with a challenging year. We were helped by a clear eyed
and well illustrated presentation of the income and projected costs of the year ahead by our acting Treasurer.
At the end of 2023 we explained to the Area Meeting what our situation was and how it came to be that way, after
which we held an appeal which had a positive response both financially and in increasing the awareness of the
cosls involved in maintaining the various properties we own.
During the year Trustees then put in action measures to deal with the situation in which we found ourselves.
We employed Arnolds Keys to carry out an Asset Review for us to assess what maintenance we might
expect and to help us discern practicable and affordable ways forward.
We gratetully accepted Sheringham Meeting's offer of a loan of £44 700.
We have met with Local Meeting treasurers and established a uniform system of accounling which makes it
easier for Mapus Smith & Lemmon to keep track throughout the year.
We employ a Book keeper to send us monthly slatements
We changed solicitors to Birketts who have proved more efficienl and responsive to our needs
Leases were signed and 24 Pottergate was been handed over. The lease with Solo Housing was
completed on Friday 23 February 2024. The legal fees for Solo Housing's work on this came to £11,959.94.
In May income from this property started to arrive.
By June a revised Budget showed how helpful the Sheringham loan had been.
By the end of the year we were receiving rent including back rent from the Credit Union, International Youth
Project and Ormiston Families in 26 Pottergate, but the costs of maintenance and management took up
most of the income received from them.
Insurance for 2024/25
Our insurance is with Congregational Insurance which offers insurance cover specifically designed for places of
worship. It provides insurance for property, liabilities and a wide range of outreach activities
Budget for 2024
A revised budget was created in June after the appeal to Local Meetings and Friends helped Area Meeting meet its
ongoing commitments.
11

NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS
SOCIETY OF FRIENDS
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Reserves policy
In 2024 we maintained our reserve policy but due to circumstsnces outlined above have been unable to do so.
Trustees aim to hold freely available reserves equivalent to at least 12 months worth of forecasted unrestricted
expenditure. We gave ourselves 20D/o leeway either side of the target.
This amounts to around.. 138.084 (target)
Al 31 Dec 2024
£'ooo
6,698
Aim
£'ooo
Total funds of the Area Meeting
Deduct.. reslricted funds
permanently endowed funds
general funds held as tangible fixed assets (functional property + other)
general funds held as tangible fixed assets (investment property)
Free reserves of the Area Meetings
Deduct.-free reserves held by Local Meetings & non-liquid reserves
Free reserves held centrally by Trustees
193
1,921
2,734
360
298
62
255
170
At 31 December 2024, the Area Meeting held 1410/0 of the free reserves we aim to hold overall. across the Area
Meeting. This is within the target range of our reserves policy.
Additionally, trustees held 360/0 of the free reserves we aim lo hold centrally. This is below the target range of our
reserves policy and the Trustees are actively working to improve the position in the Gurrent year.
Investment policy
Trustees havB the pow&r to "make investments in accordance with legal constraints and the ethical testimonies of
the Religious Society"
The Area Meeting adopted our current investment policy in July 2017. Where we invest in lisled financial securities,
our objective is to achieve a balance between capital growth and income.
We aim to invest ethically, consistent with our Quaker witness and true to our Quaker testimonies.
In summary, th& following areas of economic activity are considered unsuitable for investment by the Area Meeting-
Tobacco, Alcohol, Gambling, Prostitution, Pomography, Munitions & related products, Fossil fuel extraction.
This led the Area Meeting in 2017 lo sell all our holdings in BP PLC, Royal Dutch Shell plc and Statoil. These
holdings were valued at over £60,000 at the time of sale.
Principle risks and uncertalnties
The principal risks and uncertainties we face are:
Being required lo spend a lot of money quickly on a meeting house or investment propety lo allow it to
continue in use.,
Becoming unable to fulfil the wide range of responsibilities our Society requires of us to function well as a
worshipping community,.
In the longer term, experiencing a reduction in the number and physical vitality of our membership to a
degree which prevents us from operating wel5.
To manage these risks, we have put in place appropriate insurance policies and hold levels of free resetves which
we conslder to be appropriate to the risks. Trustees work with the Churches Conservation Trust, which supports us
in managing our meeling houses and investment property in a way that reduces the likelihood of incurring significant
unforeseen expenditure. We continue to take steps to engage professional help for many of the more demanding
non-spiritual responsibilitiGS of the Society, while retaining effective oversight of those responsibilities.
12-

NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS
SOCIETY OF FRIENDS
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Future financial plans
We plan to continue to develop our approach to the management of our invested assets with an eye to both good
stewardship and supporting our social objectives. In particular, we plan to continue to develop our long-term
propety strategy now that we have ten-year maintenanGe reports to base this on. We hope thal this Strategy will in
lime enable us to provide greater financial support to further our charitable objectives both within and beyond the
area of Norfolk and Waveney Area Meeting, as well as reducing the long-term risk carried by trustees.
Plans for future periods
Aims & objectives
As a longstanding religious society, our aims and objectives for the foreseeable future will remain unchanged. We
plan to continue to further our objects as set out on page 5 of this annual report.
Perspective on future direction
In the medium term, trustees envisage..
developing our approach to the investment property in the care of the Area Meeling.,
lightening the burden on Friends of prosaic tasks and activities across the Area Meeling.,
encouraging more of our anergy and resources to being directad towards outreach and strengthening the
life and witness of our meetings.
Activities
Trustees planned, during 2024, to..
continue arrangements with the Churches Conservation Trust to lighten the burden on Local Meelings and
the Area Meeting by supporting the management of all the real property under our care, including our
meetings houses (some of which are historic listed buildings),.
build on our commitment to acting as a socially responsible landlord by consolidating th8 professional
management of nearly all of our relationships with tenants-,
complete the redevelopment of unoccupied central Norwich properties and bring them back into use,
generating an income for the Society and putting them to a socially-beneficial use.
Build up our bank of the Society's Policies, particularly in relation to Safeguarding, Health & Safety,
Environment and Harassment & Bullying.
Support the more slructured approach to the Quaker Camp in the summer
Complete the redevelopment of unoccupied central Norwich properties and bring them back into use,
generating an income for the Society and putting them to a socially-beneficial use one for The Benjamin
Foundation and the others for the benefit of The Assisl Trust.
How our experience Influences future plans
We are strengthened by Britain Yearfy Meeting and Woodbrooke (whilst recognising that Woodbrooke now plans to
support the Society without its historic site at Bournville). This leads us to ensure we continue to provide financial
support to these organisations to the best of our ability.
We recognise the value of paying for good professional help in supporting us in our property, financial, legal and
governance responsibilities and will Continue to develop in this direction.
We are increasingly conscious that our investment property is costing us as much money as it generates. Sorne of it
may be 8 burden rather than an asset. We continue to develop an approach which responds to this prompting.
13-

NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS
SOCIETY OF FRIENDS
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Structure, governance and management
Norfolk and WaveneyArea Quaker Meeting is a part of the Religious Society of Friends, commonly called Quakers.
We registered with the Charity Commission on 10th March 2010 wilh charity registration number 1134787. The
constituent Local Meetings and the Area Meeting are consolidated into this regislration.
Within Norfolk and Waveney Area Meeting, income, assets and property are used to further the area meeting's
object by work such as..
i. strengthening the life and witness of Quaker meetings both in the area of Norfolk and Waveney Area Meeting
and beyond..
ii. spreading the message of Quakers and interpreting and developing the thought and praclice of the Religious
Society",
iii. undertaking Quaker service for the relief of suffering at home and abroad.,
iv. fvnding the concerns that Quaker meetings in the area of Norfolk and Waveney Area Meeting or beyond have
adopted or agregd to support.,
v. providing for the pasloral care of individual members and Attenders including assistance to thos8 in need and
for education-
vi. maintsining and developing Quaker meeting houses as places for public worship and from which to carry our
witness into the world..
vii. adminislering and maintaining the organisation of Norfolk and Waveney Area Meeting and contributing to the
support of Britain Yearfy Meèting.
Clause 19 also allowed for-.
19. Particlpation in meetlngs by electronic means
i. A meeting may be held by suitable electronic means agreed by the trustees in which each participant may
communicate with all the other participants;
ii. Any trustee participating at a meeting by suitable electronic means agreed by the trustees in which a
participant or participants may communicate with all the other participants shall qualify as being present at th&
meeting-,
iii. Meetings held by electronic moans must comply with rules for meetings, including clerking and the taking of
minutes.
All trustees, meetings are held as meetings for worship for business in accordance with Quakerfaith & practice, the
constitutional book of Christian discipline of Britain Yearly Meeting.
The Clerk to Trustees regularly reports on the proceedings of trustees to Area Meeting in session during the course
of the year.
The Trustees who have served during the year and at the date of approving this annual report are set out on pages
15 and 16. The trustees are appointed by Area Meeting in session. The members of the Area Meoting are all those
persons whose names are for the time being recorded in the official register maintained in accordance with Quaker
faith & practice. The Area Meeting has the ff nal power to remove trustees.
14-

NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS
SOCIETY OF FRIENDS
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Tha trustees who served during the year and up to the date of signature of Ihe financial statements are set out
below. The Trustees are appointed by the Area Meeting in session. The members of the Area Meeting are all those
persons whose names are for the time being recorded in the official registar maintained in accordan¢e with Quaker
Faith & Practice. The Area Meeting has the final power to remove trustees.
Paula Harvey
Property Clerk
King s Lynn Local Meeting
Resigned 16 March 2024
Bridget Herring
Pakefield Local Meeting
Resigned 31 May 2025
SLtsan Lako
Area Meeting Treasurer
Aylshan7 LoGal Meeting
Resigned 14 February 2024
Silas Price
Employment Clerk & S2feguarding
NO￿lCh Local Meeting
Susan Sharpe
Clerk to the Trustees
Aylsham Local Meeting
Carole Thomas
Sheringham Local Meeting
Caroline Tisdall
B8CGlgs Local Meeting
David Knighton
NO￿lCh Local M&8ting
Caz Thompson
Kings Lynn Local Meeting
Appoinled 18 May 2024
Peter Cundy
Wells Local Meeting fmm l May 2025
Appointed 15 March 2025
Peter Varney
Appointed 15 March 2025
NO￿lCh Local Meeting from 7 May 2025 until 37 July 2025
Recruitmenl of trustees, Induction and tralning
Trustees, the Clerk lo Trustees and the Treasurer afe normally appointed for 8 term of three years. Reappointment
is possible for second and third terms (though ft)r the Treasurer a third term is permitted only in exceptional
circumstances). They are appointed by Area Meeting on the nomination of the Nominations Committee.
New Trustees receive copies of recent minutes, our goveming document and terms of reference. We also provide
induction and briefing materials which we look to develop and improve. Britain Yeady Meeting produces a Handbook
for Trustees of Quaker Meetings, (at present being revised and updated), which trustees are encouraged to read,
along with Charity Commission guidance The Essential Trustee. New Trustees are supported in attending Being a
Quaker Trustee, a course run by Woodbrooke Quaker Study Centre. Once a year it is the practice ot Trustees to
reflect on how we are working together and to check that we are relating our work to the objects set out in our
governing document.
There is an annual Trustees & Treasures, conference that Trustees can attend and a Clerk to Trustees Liason
Group.
15-

NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS
SOCIETY OF FRIENDS
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees, report was approved by the Board of Trust@es.
S Sharpe
Trustee
Date..
16.10.2025
16

NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS
SOCIETY OF FRIENDS
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice}.
The law applicable to Charities in England and Wales requires the trustees to prepare financial statements for each
financial year which give a true and fair view of the state of affairs of the charity and of Ihe incoming resources and
application of resources of the charity for that year.
In preparing these financial statements, the trustees are required to..
select suitable accounting policies and then apply them consistently.,
observe the methods and prtnciples in the Charities SORP.
make judgements and estimates that are reasonable and prudent.,
state whether applicable accounting standards have been followed, subject to any material departures disclosed
and explained in the financial statements., and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity
will continue in operalion.
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 thal the financial statements comply with the
Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They
are also responsible for safeguarding the assels of the charity and hence for taking reasonable sleps for the
prevention and detection of fraud and other irregularities.
17-

## **NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS** 

## **STATEMENT OF FINANCIAL ACTIVITIES** 

## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ 

|**Unrestricted**<br>**Restricted Endowment**<br>**Total**<br>**Unrestricted**<br>**Restricted Endowment**<br>**funds**<br>**funds**<br>**funds**<br>**funds**<br>**funds**<br>**funds**<br>**2024**<br>**2024**<br>**2024**<br>**2024**<br>**2023**<br>**2023**<br>**2023**<br>**Notes**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>**Income and endowments from:**<br>Voluntary income<br>**4**<br>115,322<br>2,000<br>-<br>117,322<br>197,807<br>-<br>-<br>Activities for generating funds<br>**5**<br>75,612<br>-<br>-<br>75,612<br>66,199<br>-<br>-<br>Investment income<br>**7**<br>133,865<br>209<br>-<br>134,074<br>77,187<br>1,966<br>-<br>Income from Quaker activities<br>**9**<br>689<br>-<br>-<br>689<br>1,409<br>-<br>-<br>**Total income**<br>325,488<br>2,209<br>-<br>327,697<br>342,602<br>1,966<br>-<br>**Expenditure on:**<br>Cost of raising funds<br>**10**<br>177,149<br>3,164<br>5,078<br>185,391<br>166,994<br>3,041<br>5,026<br>Expenditure on Quaker activities<br>**11**<br>255,234<br>2,000<br>-<br>257,234<br>127,791<br>2,799<br>-<br>**Total expenditure**<br>432,383<br>5,164<br>5,078<br>442,625<br>294,785<br>5,840<br>5,026<br>Net gains/(losses) on investments<br>**18**<br>(601,059)<br>(1,547)<br>(2,605)<br>(605,211)<br>(169)<br>11,117<br>37,642<br>**Net (outgoing)/incoming resources**<br>(707,954)<br>(4,502)<br>(7,683)<br>(720,139)<br>103,874<br>(48,983)<br>32,616|**Total**<br>**2023**<br>**£**<br>197,807<br>66,199<br>79,153<br>1,409|
|---|---|
||344,568|
||175,061|
||130,590|
||305,651|
||48,590|
||87,507|



- 22 - 



## **NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS** 

## **STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)** 

## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ 

|**Unrestricted**<br>**Restricted Endowment**<br>**funds**<br>**funds**<br>**funds**<br>**2024**<br>**2024**<br>**2024**<br>**Notes**<br>**£**<br>**£**<br>**£**<br>Gross transfers between funds<br>-<br>-<br>-<br>**Net (outgoing)/incoming resources**<br>(707,954)<br>(4,502)<br>(7,683)<br>**Other recognised gains and losses**<br>Revaluation of tangible fixed assets<br>175,140<br>-<br>-<br>**Net movement in funds**<br>(532,814)<br>(4,502)<br>(7,683)<br>Fund balances at 1 January 2024<br>5,117,487<br>196,961<br>1,928,886<br>**Fund balances at 31 December 2024**<br>4,584,673<br>192,459<br>1,921,203|**Total**<br>**Unrestricted**<br>**Restricted Endowment**<br>**funds**<br>**funds**<br>**funds**<br>**2024**<br>**2023**<br>**2023**<br>**2023**<br>**£**<br>**£**<br>**£**<br>**£**<br>-<br>56,226<br>(56,226)<br>-<br>(720,139)<br>103,874<br>(48,983)<br>32,616<br>175,140<br>-<br>-<br>-<br>(544,999)<br>103,874<br>(48,983)<br>32,616<br>7,243,334<br>5,013,613<br>245,944<br>1,896,270<br>6,698,335<br>5,117,487<br>196,961<br>1,928,886|**Total**<br>**2023**<br>**£**<br>-<br>87,507<br>-|
|---|---|---|
|||87,507<br>7,155,827|
|||7,243,334|



The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 

- 23 - 



## **NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS** 

## **BALANCE SHEET** 

## _**AS AT 31 DECEMBER 2024**_ 

|**Notes**<br>**Fixed assets**<br>Tangible assets<br>**20**<br>Investment property<br>**21**<br>Investments<br>**22**<br>**Current assets**<br>Debtors<br>**23**<br>Cash at bank and in hand<br>**Creditors: amounts falling due within**<br>**one year**<br>**25**<br>Net current assets<br>**Total assets less current liabilities**<br>**Creditors: amounts falling due after**<br>**more than one year**<br>**26**<br>**Net assets**<br>**Capital funds**<br>Endowment funds - general<br>**27**<br>**Income funds**<br>Restricted funds<br>**28**<br>Unrestricted funds<br>General unrestricted funds<br>Revaluation reserve|**2024**<br>**£**<br>**£**<br>2,734,345<br>2,780,000<br>799,844<br>6,314,189<br>27,734<br>374,229<br>401,963<br>(17,817)<br>384,146<br>6,698,335<br>-<br>6,698,335<br>1,921,203<br>192,459<br>4,409,533<br>175,140<br>4,584,673<br>6,698,335|**2023**<br>**£**<br>**£**<br>2,560,653<br>3,381,059<br>813,406<br>6,755,118<br>3,646<br>511,284<br>514,930<br>(21,714)<br>493,216<br>7,248,334<br>(5,000)<br>7,243,334<br>1,928,886<br>196,961<br>5,117,487<br>-<br>5,117,487<br>7,243,334|
|---|---|---|



- 24 - 



## **NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS** 

## **BALANCE SHEET (CONTINUED)** 

## _**AS AT 31 DECEMBER 2024**_ 

The financial statements were approved by the Trustees on ......................... Wednesday 15th October 2025 

.............................. 

S Sharpe **Trustee** 

- 25 - 



**NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS** 

## **NOTES TO THE  FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ 

## **1 Accounting policies** 

## **Charity information** 

Norfolk & Waveney Area Quaker Meeting of the Religious Society of Friends is part of the Religious Society of Friends, commonly called Quakers. The charity is an unincorporated charity. 

## **1.1 Accounting convention** 

The financial statements have been prepared in accordance with the charity's governing document,  the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 not to prepare a Statement of Cash Flows. 

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. 

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. 

## **1.2 Going concern** 

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. 

## **1.3 Charitable funds** 

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives which have not been designated for other purposes. 

Restricted funds are subject to restrictions on their expenditure imposed by the donor or through the terms of an appeal. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 

Endowment funds represent those assets which must be held permanently by the charity. 

## **1.4 Income** 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the fund, it is probable that the income will be received and the amount can be measured reliably. 

- 26 - 



**NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ 

## **1 Accounting policies** 

## **(Continued)** 

## **1.5 Expenditure** 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Expenditure includes VAT, which cannot be recovered, and is reported as part of the expenditure to which it relates. 

Costs of generating funds comprise those costs directly attributable to managing the investment properties and the investment portfolio and raising investment income. 

Charitable expenditure comprises those costs incurred in performing the charity's activities undertaken in the course of fulfilling charitable objectives as described in the Trustees' Report. 

Other expenditure on charitable activities include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity. 

## **1.6 Tangible fixed assets** 

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. 

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: 

Functional properties Not depreciated Equipment 25% reducing balance method Computers 50% reducing balance method 

Functional freehold property is stated in the accounts at its open market value. A full valuation of the property is carried out every five years in the intervening years a valuation will be carried out only where it is likely there has been a material change in value. An annual impairment review is also carried out in years where no depreciation is provided on the grounds of immateriality. The trustees review the materiality of freehold depreciation each year. 

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. 

## **1.7 Investment property** 

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the SOFA. 

## **1.8 Fixed asset investments** 

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date.  Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. 

- 27 - 



**NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ 

## **1 Accounting policies** 

## **(Continued)** 

## **1.9 Impairment of fixed assets** 

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). 

## **2 Critical 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. 

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 Net financial contribution, by activity** 

## **4** 

||||**2024**|**2024**|**2023**|**2023**|
|---|---|---|---|---|---|---|
|||_Note_ £|||£||
|Voluntary income||_4_||117,322||197,807|
|Net investment income generated for Quaker activities||_7_||16,816|-|38,742|
|Net Income on activities for generating funds for Quaker activities||_5_||7,479||9,033|
|Net expenditure on Quaker activities||_9_|-|256,546|-|129,179|
|**Net incoming resources for the year**|||**-**|**114,929**||**38,919**|
|**Voluntary income**|||||||
||**Unrestricted**|**Restricted**||**Total **|**Unrestricted**||
||**funds**|**funds**||||**funds**|
||**2024**||**2024**|**2024**||**2023**|
||**£**||**£**|**£**||**£**|
|Contributions from Friends and Attenders|115,322||2,000|117,322||83,810|
|Legacies receivable|-||-|-||113,997|
||115,322||2,000|117,322||197,807|



It is the practice of Friends to make financial contributions to support the work of the Society. 

Gift Aid received is included within "Contributions from Friends and Attenders". 

- 28 - 



## **NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ 

**5 Activities for generating funds** 

||||||**Room Hire**|**2024**||**Room Hire**|**2023**|
|---|---|---|---|---|---|---|---|---|---|
||||||**income**|||**income**||
||||||**2024**|||**2023**||
||||||**£**|**£**||**£**|**£**|
|Room hire|||||69,204|69,204||59,768|59,768|
|Fundraising events|||||6,408|6,408||6,431|6,431|
||||||75,612|75,612||66,199|66,199|
||Notes|**Unrestricted**|**Restricted **|**Endowment**|**Total**|**Unrestricted**|**Restricted **|**Endowment**|**Total**|
|||**funds**|**funds**|**funds**||**funds**|**funds**|**funds**||
|||||**general**||||**general**||
|||**2024**|**2024**|**2024**|**2024**|**2023**|**2023**|**2023**|**2023**|
|||**£**|**£**|**£**|**£**|**£**|**£**|**£**|**£**|
|Income from activities for generating funds:||||||||||
|- Room hire||69,204|-|-|69,204|59,768|-|-|59,768|
|- Fundraising events||6,408|-|-|6,408|6,431|-|-|6,431|
|**Total income from activities for generating**||||||||||
||**funds**|75,612|-|-|75,612|66,199|-|-|66,199|
|Cost of activities for generating funds:||||||||||
|- Room hire costs|6|(68,133)|-|-|(68,133)|(57,166)|-|-|(57,166)|
|- Residential costs||-|-|-|-|-|-|-|-|
|**Expenditure on activitivies for generating**||||||||||
||**funds**|(68,133)|-|-|(68,133)|(57,166)|-|-|(57,166)|
|Net income from activities for generating|funds:|||||||||



- 29 - 



## **NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ 

|**5**<br>**Activities for generating funds**<br>- Room hire<br>- Fundraising events<br>**Net income from activities for generating**<br>**funds for Quaker activities**|1,071<br>6,408<br>7,479|-<br>-<br>-|-<br>-<br>-|1,071<br>6,408<br>7,479|2,602<br>6,431<br>9,033|-<br>-<br>-|**(Continued)**<br>-<br>2,602<br>-<br>6,431<br>-<br>9,033|**(Continued)**<br>-<br>2,602<br>-<br>6,431<br>-<br>9,033|
|---|---|---|---|---|---|---|---|---|
|||||||||9,033|



Local Meetings make rooms in meeting houses available for community hire so that they are put to good use when not being used as places of worship and generate an income to support Quaker activities. 

- 30 - 



**NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ 

## **6 Room hire costs, forming part of activities for generating funds** 

|_Notes_ <br>Share of total meeting house costs_12_<br>Share of total wardening costs<br>_13_<br>Allocated support costs<br>_14_<br>**Room hire costs**|**2024**<br> **Unrestricted**<br>£<br>35,845<br>16,621<br>15,667|**Restricted **<br>£<br>-<br>-<br> -<br> -|**2024**<br> **Endowment Total funds**<br>£<br>£<br>-          35,845<br>-          16,621<br> <br> -  <br>15,667<br> <br> -  <br>**68,133**|**2023**<br>**Total funds**<br>£<br>20,288<br>22,998<br>13,880<br>**57,166**|
|---|---|---|---|---|
||**68,133**||||



Meeting houses and wardening support both Quaker activities and activities for generating funds (room hire). Therefore, some costs are shown here and some are shown separately (on note 12) as costs of Quaker activities. 

Total meeting house costs are shown in note 12. Total wardening costs are shown in note 13. Allocated support costs are shown in note 14. 

- 31 - 



## **NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ 

## **7 Investment income** 

||Notes|**Unrestricted**|**Restricted **|**Endowment**|**Total**|**Unrestricted**|**Restricted **|**Endowment**|**Total**|
|---|---|---|---|---|---|---|---|---|---|
|||**funds**|**funds**|**funds**||**funds**|**funds**|**funds**||
|||||**general**||||**general**||
|||**2024**|**2024**|**2024**|**2024**|**2023**|**2023**|**2023**|**2023**|
|||**£**|**£**|**£**|**£**|**£**|**£**|**£**|**£**|
|Investment income from:||||||||||
|Investment properties||108,452|-|-|108,452|59,797|-|-|59,797|
|Financial Investments||17,933|-|-|17,933|13,938|1,799|-|15,737|
|Cash Deposits||7,480|209|-|7,689|3,452|167|-|3,619|
|**Total Investment Income**||133,865|209|-|134,074|77,187|1,966|-|79,153|
|**Cost of generating investment income:**||||||||||
|- Investment property costs|8|(109,016)|-|-|(109,016)|(109,609)|-|-|(109,609)|
|- Investment management costs||-|(3,164)|(5,078)|(8,242)|(219)|(3,041)|(5,026)|(8,286)|
|**Total investment costs**||(109,016)|(3,164)|(5,078)|(117,258)|(109,829)|(3,041)|(5,026)|(117,895)|
|**Net investment income generated from**|**Quaker activities**|||||||||
|- Investment properties||(564)|-|-|(564)|(49,812)|-|-|(49,812)|
|- Financial investments||17,933|(3,164)|(5,078)|9,691|13,719|(1,242)|(5,026)|7,451|
|- Cash deposits||7,480|209|-|7,689|3,452|167|-|3,619|
|Net Investment Income generated from Quaker||||||||||
|activities||24,849|(2,955)|(5,078)|16,816|(32,642)|(1,075)|(5,026)|(38,742)|



- 32 - 



**NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ 

## **8 Investment property costs** 

|_Notes_ <br>Management fees<br>Other direct costs<br>Allocated support costs<br>_14_<br>**Total investment property costs**|**2024**<br> **Unrestricted**<br>£<br>10,165<br>90,273<br>8,578|**Restricted **<br>£<br>-<br>-<br> <br> -<br> <br> -|**2024**<br> **Endowment Total funds**<br>£<br>£<br>-          10,165<br>-          90,273<br> <br> -  <br>8,578<br> <br> -  <br>**109,016**|**2023**<br>**Total funds**<br>£<br>6,592<br>101,111<br>1,906<br>**109,609**|
|---|---|---|---|---|
||**109,016**||||



Most of the Area Meeting's relationships with tenants are professionally managed by property agents. This supports us in acting as a responsible and responsive landlord. Management fees are paid for the management services received. 

Other direct costs in 2024 include (a) compliance, utilities and council tax costs relating to 24 Pottergate following the completion of its redevelopment and prior to it being tenanted (b) the cost of utilities and business rates relating to 26 Pottergate whilst leases were being prepared (c) lease costs associated with 24 and 26 Pottergate prior to them being tenated 

Investment property costs include allocated support costs (see note 14) 

- 33 - 



## **NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ 

## **9 Income from Quaker activities** 

||Notes|**Unrestricted**|**Restricted **|**Endowment**|**Total**|**Unrestricted**|**Restricted **|**Endowment**|**Total**|
|---|---|---|---|---|---|---|---|---|---|
|||**funds**|**funds**|**funds**||**funds**|**funds**|**funds**||
|||||**general**||||**general**||
|||**2024**|**2024**|**2024**|**2024**|**2023**|**2023**|**2023**|**2023**|
|||**£**|**£**|**£**|**£**|**£**|**£**|**£**|**£**|
|Other income||689|-|-|689|1,409|-|-|1,409|
|**Total income from Quaker activites**||689|-|-|689|1,409|-|-|1,409|
|**Expenditure on Quaker activities**||||||||||
|Meeting house costs|11a|(159,298)|(2,000)|-|(161,298)|(95,166)|(1,799)|-|(96,965)|
|Friends' activities|11b|(4,825)|-|-|(4,825)|(4,772)|(1,000)|-|(5,772)|
|Residential gathering||-|-|-|-|-|-|-|-|
|Other costs||-|-|-|-|-|-|-|-|
|Donations to Quaker organisations|11c|(89,445)|-|-|(89,445)|(20,875)|-|-|(20,875)|
|Other donations|11d|(1,665)|-|-|(1,665)|(6,976)|-|-|(6,976)|
|**Total expenditure on Quaker**||||||||||
|**activites**||(255,233)|(2,000)|-|(257,233)|(127,789)|(2,799)|-|(130,588)|
|||||||||||
|**Net expenditure on Quaker**||||||||||
|**activities**||(254,544)|(2,000)|-|(256,544)|(126,380)|(2,799)|-|(129,179)|



- 34 - 



## **NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ 

## **10 Cost of raising funds** 

|**Unrestricted**<br>**Restricted Endowment**<br>**funds**<br>**funds**<br>**funds**<br>**general**<br>**2024**<br>**2024**<br>**2024**<br>**£**<br>**£**<br>**£**<br>Investment property costs<br>Other direct costs<br>90,273<br>-<br>-<br>Management fees<br>10,165<br>-<br>-<br>Support costs<br>8,578<br>-<br>-<br>Investment property costs<br>109,016<br>-<br>-<br>Cost of activities for generating funds<br>Share of total meeting house costs<br>35,845<br>-<br>-<br>Share of total wardening costs<br>16,621<br>-<br>-<br>Support costs<br>15,667<br>-<br>-<br>Cost of activities for generating funds<br>68,133<br>-<br>-<br>Investment management charges<br>-<br>3,164<br>5,078<br>177,149<br>3,164<br>5,078|**Total**<br>**Unrestricted**<br>**Restricted Endowment**<br>**funds**<br>**funds**<br>**funds**<br>**general**<br>**2024**<br>**2023**<br>**2023**<br>**2023**<br>**£**<br>**£**<br>**£**<br>**£**<br>90,273<br>101,111<br>-<br>-<br>10,165<br>6,592<br>-<br>-<br>8,578<br>1,906<br>-<br>-<br>109,016<br>109,609<br>-<br>-<br>35,845<br>20,288<br>-<br>-<br>16,621<br>22,998<br>-<br>-<br>15,667<br>13,880<br>-<br>-<br>68,133<br>57,166<br>-<br>-<br>8,242<br>219<br>3,041<br>5,026<br>185,391<br>166,994<br>3,041<br>5,026|**Total**<br>**2023**<br>**£**<br>101,111<br>6,592<br>1,906|
|---|---|---|
|||109,609|
|||20,288<br>22,998<br>13,880|
|||57,166|
|||8,286|
|||175,061|



- 35 - 



## **NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ 

## **11 Expenditure on Quaker activities** 

|Share of total wardening costs<br>Direct Costs<br>Share of total meeting house costs<br>Donations to Quaker organisations<br>Other donations<br>Share of support costs (see note 14)<br>Share of governance costs (see note 14)<br>**Analysis by fund**<br>Unrestricted funds<br>Restricted funds|**Grants**<br>**2024**<br>**£**<br>-<br>-<br>-<br>89,445<br>1,666<br>91,111<br>-<br>-<br>91,111<br>91,111<br>-<br>91,111|**Meeting**<br>**House**<br>**Costs**<br>**Friends'**<br>**Activities**<br>**2024**<br>**2024**<br>**£**<br>**£**<br>5,540<br>-<br>-<br>2,292<br>147,153<br>-<br>-<br>-<br>-<br>-<br>152,693<br>2,292<br>5,946<br>1,868<br>2,659<br>665<br>161,298<br>4,825<br>159,298<br>4,825<br>2,000<br>-<br>161,298<br>4,825|**Total**<br>**2024**<br>**£**<br>5,540<br>2,292<br>147,153<br>89,445<br>1,666<br>246,096<br>7,814<br>3,324<br>257,234<br>255,234<br>2,000<br>257,234|**Grants**<br>**2023**<br>**£**<br>-<br>-<br>-<br>20,877<br>6,976<br>27,853<br>-<br>-<br>27,853<br>27,853<br>-<br>27,853|**Meeting**<br>**House**<br>**Costs**<br>**Friends'**<br>**Activities**<br>**2023**<br>**2023**<br>**£**<br>**£**<br>7,666<br>-<br>-<br>4,719<br>85,089<br>-<br>-<br>-<br>-<br>-<br>92,755<br>4,719<br>1,525<br>382<br>2,685<br>671<br>96,965<br>5,772<br>95,166<br>4,772<br>1,799<br>1,000<br>96,965<br>5,772|**Total**<br>**2023**<br>**£**<br>7,666<br>4,719<br>85,089<br>20,877<br>6,976|
|---|---|---|---|---|---|---|
|||||||125,327<br>1,907<br>3,356|
|||||||130,590|
|||||||127,791<br>2,799|
|||||||130,590|



- 36 - 



## **NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ 

## **11 Expenditure on Quaker activities** 

**(Continued)** 

## **11a  Meeting house costs, forming part of Quaker activities** 

|_Notes_<br>Share of total meeting house costs<br>_12_<br>Share of total wardening costs<br>_13_<br>Allocated support costs<br>_14_<br>**Meeting house costs**|**2024**<br>**Unrestricted Restricted**<br>**Endowment **<br>£<br>£<br>£<br>145,153               2,000                  -<br>5,540                     -                    -<br>8,605<br> -<br> - <br>**159,298**<br>2,000<br> -|**2024**<br> **Total funds**<br>£<br>147,153<br>5,540<br>8,605<br>**161,298**|**2023**<br>**Total funds**<br>£<br>85,089<br>7,666<br>4,210|
|---|---|---|---|
||**159,298**||**96,965**|



Meeting houses and wardening support both Quaker activities and activities for generating funds (room hire). Some costs are therefore shown here, some are shown separately (in note 12) as room hire costs. 

Total meeting house costs are shown in note 12. Total wardening costs are shown in note 12. Allocated support costs are shown in note 14. 

## **11b  Friends' activities** 

|_Notes_<br>Direct costs<br>Allocated support costs<br>_14_<br>**Total expenditure on Friends' activities**|**2024**<br>**Unrestricted Restricted**<br>£<br>£<br>2,292                     -<br>2,533<br> -<br>**4,825**<br> -|**Endowment **<br>£<br>-<br> <br> - <br> <br> -|**2024**<br> **Total funds**<br>£<br>2,292<br>2,533<br>**4,825**|**2023**<br>**Total funds**<br>£<br>4,719<br>1,053|
|---|---|---|---|---|
||**4,825**|||**5,772**|



Friends' activities include the cost of prison and university chaplaincies, shared activities and meetings, training for officeholders, attendance of officeholders at Britain Yearly Meeting commitees and gatherings, the maintenance of burial grounds, the publication of internal newsletters and outreach. 

Allocated support costs are shown in note 14. 

- 37 - 



## **NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ 

**11 Expenditure on Quaker activities** 

**(Continued)** 

## **11c  Donations to Quaker organisations** 

|Britain Yearly Meeting<br>Glebe House (Friends' Therapeutic Trust Ltd)<br>Quaker United Nations Office<br>Woodbrooke Quaker Study Centre<br>Friends' World Committee for Consultation<br>The Friend Publications Ltd<br>Quaker Social Action<br>Other Local Quaker Meetings (beyond Norfolk & Waveney Area Meeting)<br>**Total donations to Quaker organisations**|**2024**<br>**Total funds**<br>£<br>10,845<br>500<br>-<br>-<br>-<br>-<br>78,100<br> - <br>**89,445**|**2023**<br>**Total funds**<br>£<br>12,805<br>3,250<br>200<br>1,200<br>750<br>750<br>450<br>1,470|
|---|---|---|
|||**20,875**|



## **11d  Other donations** 

No individual donations to non-Quaker organisations were greater than £250 in value. 

|Sum of all donations individually less than £250<br>**Total other donations**|**2024**<br>**Total funds**<br>£<br>1,665<br>**1,665**|**2023**<br>**Total funds**<br>£<br>6,976|
|---|---|---|
|||**6,976**|



- 38 - 



**NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ 

## **12 Total meeting house costs, shares between activities** 

|**2024**<br>**Unrestricted **<br>£<br>**Area Meeting**<br>Great Yarmouth<br>-<br>North Walsham<br>98<br>Norwich<br>28,831<br>Pakefield<br>-<br>Sheringham<br>-<br>Wells-next-the-Sea<br>-<br>Wells warden's cottage<br>-<br>**Local Meetings**<br>Aylsham<br>6,696<br>Beccles<br>15,730<br>Great Yarmouth<br>8,555<br>King's Lynn<br>9,788<br>North Walsham<br>5,280<br>Norwich<br>82,931<br>Pakefield<br>2,279<br>Sheringham<br>10,198<br>Wells-next-the-Sea<br>10,144<br>Wymondham<br>467<br>**Total meeting house costs**<br>**180,998**<br>**Allocation of meeting house**<br>**costs**<br>_Notes_<br>-<br>to the cost of generating<br>income from room hire<br>_6_<br>35,845<br>-<br>to Quaker activities<br>_11a_<br>145,153<br>**180,998**<br>**13**<br>**Total cost of wardening, shared between activities**|**Restricted **<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>2,000<br>-<br>-<br>-<br> -<br>2,000<br>-<br>2,000<br>2,000|**Endowment **<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br> <br> - <br> - <br>-<br> - <br> -|**2024**<br> **Total**<br>£<br>-<br>98<br>28,831<br>-<br>-<br>-<br>-<br>6,696<br>15,730<br>8,555<br>9,788<br>5,280<br>84,931<br>2,279<br>10,198<br>10,144<br>467<br>**182,998**<br>35,845<br>147,153<br>**182,998**|**2023**<br>**Total**<br>£<br>-<br>-<br>10,779<br>-<br>-<br>1,306<br>-<br>5,534<br>9,867<br>2,277<br>14,937<br>3,451<br>41,040<br>3,649<br>4,575<br>6,545<br>1,418<br>**105,378**<br>20,288<br>85,089<br>**105,378**|
|---|---|---|---|---|



|_Note_<br>**Total cost of wardening**<br>**Allocation of total cost of wardening**<br>- to the cost of generating income from room hire<br>75% _6_<br>- to Quaker activities<br>25% _11a_|**2024**<br>£<br>22,161<br>16,621<br>5,540<br>**22,161**|**2023**<br>£<br>30,664<br>22,998<br>7,666<br>**30,664**|
|---|---|---|



- 39 - 



## **NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ 

|**14**<br>**Support costs**<br>**Support**<br>**costs**<br>**Governance**<br>**costs**<br>**2024**<br>**Support**<br>**costs**<br>**Governance**<br>**costs**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>Depreciation<br>1,448<br>-<br>1,448<br>1,931<br>-<br>Insurance<br>15,282<br>-<br>15,282<br>-<br>-<br>Finance Charges<br>212<br>-<br>212<br>316<br>-<br>Administration and office<br>costs<br>3,826<br>-<br>3,826<br>3,206<br>-<br>Expenses, bursaries &<br>other costs<br>1,319<br>-<br>1,319<br>2,173<br>-<br>Audit fees<br>-<br>8,400<br>8,400<br>-<br>9,500<br>Accountancy<br>-<br>4,896<br>4,896<br>-<br>2,923<br>Legal and professional<br>-<br>-<br>-<br>-<br>1,000<br>22,087<br>13,296<br>35,383<br>7,626<br>13,423<br>Analysed between<br>Activities for generating funds:<br>Investment property<br>costs<br>8,578<br>-<br>8,578<br>1,906<br>-<br>Room hire costs<br>5,695<br>9,972<br>15,667<br>3,813<br>10,067<br>Quaker Activities:<br>Meeting house costs and<br>Friends' activities<br>7,814<br>3,324<br>11,138<br>1,907<br>3,356<br>22,087<br>13,296<br>35,383<br>7,626<br>13,423<br>**15**<br>**Net movement in funds**<br>**2024**<br>**£**<br>The net movement in funds is stated after charging/(crediting):<br>Fees payable for the audit of the charity's financial statements<br>8,400<br>Depreciation of owned tangible fixed assets<br>1,448|**2023**<br>**£**<br>1,931<br>-<br>316<br>3,206<br>2,173<br>9,500<br>2,923<br>1,000|
|---|---|
||21,049|
||1,906<br>13,880<br>5,263|
||21,049|
||**2023**<br>**£**<br>9,500<br>1,931|



## **16 Trustees** 

Trustees received no remuneration in the year. 

Trustees were not paid expenses in connection with trusteeship in the year. 

- 40 - 



**NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ 

## **17 Employees** 

The average monthly number of employees during the year was: 

||**2024**|**2023**|
|---|---|---|
||**Number**|**Number**|
|Wardens|2|2|
|**Employment costs**|**2024**|**2023**|
||**£**|**£**|
|Wages and salaries|22,161|30,664|



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

- 41 - 



## **NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ 

## **18 Gains and losses on investments** 

|**Unrestricted**<br>**Restricted Endowment**<br>**Total**<br>**Unrestricted**<br>**Restricted Endowment**<br>**funds**<br>**funds**<br>**funds**<br>**funds**<br>**funds**<br>**funds**<br>**2024**<br>**2024**<br>**2024**<br>**2024**<br>**2023**<br>**2023**<br>**2023**<br>Gains/(losses) arising on:<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>Revaluation of investments<br>-<br>(1,578)<br>(57,336)<br>(58,914)<br>1,294<br>(9,804)<br>44,184<br>Sale of investments<br>-<br>31<br>54,731<br>54,762<br>(1,463)<br>20,921<br>(6,542)<br>Revaluation of investment properties<br>(601,059)<br>-<br>-<br>(601,059)<br>-<br>-<br>-<br>(601,059)<br>(1,547)<br>(2,605)<br>(605,211)<br>(169)<br>11,117<br>37,642|**Total**<br>**2023**<br>**£**<br>35,674<br>12,916<br>-|
|---|---|
||48,590|



- 42 - 



**NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ 

## **19 Taxation** 

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 

## **20 Tangible fixed assets** 

|**Cost**<br>At 1 January 2024<br>Revaluation<br>At 31 December 2024<br>**Depreciation and impairment**<br>At 1 January 2024<br>Depreciation charged in the year<br>At 31 December 2024<br>**Carrying amount**<br>At 31 December 2024<br>At 31 December 2023|**Functional**<br>**properties**<br>**£**<br>2,554,860<br>175,140<br>2,730,000<br>-<br>-<br>-<br>2,730,000<br>2,554,860|**Equipment**<br>**£**<br>34,869<br>-<br>34,869<br>29,076<br>1,448<br>30,524<br>4,345<br>5,793|**Total**<br>**£**<br>2,589,729<br>175,140|
|---|---|---|---|
||||2,764,869|
||||29,076<br>1,448|
||||30,524|
||||2,734,345|
||||2,560,653|



The functional properties are made up of: 

|**Meeting houses**<br>Aylsham<br>Beccles<br>Great Yarmouth<br>King's Lynn<br>North Walsham<br>Norwich<br>Pakefield<br>Sheringham<br>Wells (incl. chalet)<br>Wells warden's cottage<br>**Total**|**2023**<br>**Total value**<br>£<br>156,000<br>155,000<br>125,000<br>200,000<br>195,000<br>647,677<br>206,183<br>130,000<br>350,000<br>390,000<br>**2,554,860**|**Changes during**<br>**2024**<br>£<br>24,000<br>10,000<br>25,000<br>20,000<br>5,000<br>42,323<br>-                  81,183<br>20,000<br>-<br>110,000<br>175,140|**2024**<br>**Total value**<br>£<br>180,000<br>165,000<br>150,000<br>220,000<br>200,000<br>690,000<br>125,000<br>150,000<br>350,000<br>500,000<br>**2,730,000**|
|---|---|---|---|



The Trustees obtained a valuation by Arnolds Keys LLP (Chartered Surveyors) of all the charity's properties at 10 July 2024 and these values have been adopted. Trustees are satisfied that the above property valuations as at 31 December 2024 are not materially different in total to the market value as at 10 July 2024. 

- 43 - 



**NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ 

## **21 Investment property** 

|**Fair value**<br>At 1 January 2024<br>Net gains or losses through fair value adjustments<br>At 31 December 2024|**2024**<br>**£**<br>3,381,059<br>(601,059)|
|---|---|
||2,780,000|



The Trustees obtained a valuation by Arnolds Keys LLP (Chartered Surveyors) of all the charity's properties at 10 July 2024 and these values have been adopted. Trustees are satisfied that the total value of investment property as at 31 December 2024 is not materially different in total to the market value as at 10 July 2024. 

||**2024**|**2023**|
|---|---|---|
||**£**|**£**|
|Freehold|2,780,000|3,381,059|
|Long leasehold|-|-|
|Short leasehold|-|-|



## **22 Fixed asset investments** 

||**Listed**|
|---|---|
||**investments**|
||**£**|
|**Cost or valuation**||
|At 1 January 2024|813,406|
|Additions|156,143|
|Valuation changes|(58,915)|
|Gains/losses in the year|54,762|
|Exchange rate variance|(598)|
|Disposals|(164,954)|
|At 31 December 2024|799,844|
|**Carrying amount**||
|At 31 December 2024|799,844|
|At 31 December 2023|813,406|



## **Fixed asset investments revalued** 

All investments are listed securities. No individual holdings exceed 5% of the portfolio value at the year end. 

The historical cost of the investments as at 31 December 2024 was £705,065 (2023 £657,737). 

- 44 - 



## **NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ 

|**23**<br>**Debtors**<br>**Amounts falling due within one year:**<br>Trade debtors<br>Other debtors<br>**24**<br>**Loans and overdrafts**<br>Other loans<br>Payable within one year<br>Payable after one year<br>Amounts included above which fall due after five years:<br>Payable by instalments<br>The loan balance is made up as follows:<br>BYM Meeting Houses loan - £5,000<br>**25**<br>**Creditors: amounts falling due within one year**<br>Borrowings<br>Trade creditors<br>Other creditors<br>Accruals and deferred income<br>**26**<br>**Creditors: amounts falling due after more than one year**<br>Borrowings|**2024**<br>**£**<br>19,037<br>8,697<br>27,734<br>**2024**<br>**£**<br>5,000<br>5,000<br>-<br>-<br>**2024**<br>**£**<br>5,000<br>-<br>3,197<br>9,620<br>17,817<br>**2024**<br>**£**<br>-|**2023**<br>**£**<br>2,856<br>790|
|---|---|---|
|||3,646|
|||**2023**<br>**£**<br>11,440|
|||6,440<br>5,000|
|||5,000|
|||**2023**<br>**£**<br>6,440<br>1,517<br>4,137<br>9,620|
|||21,714|
|||**2023**<br>**£**<br>5,000|



- 45 - 



**NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ 

## **27 Endowment funds** 

Endowment funds represent assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund. 

|**At**<br>**Permanent endowments**<br>Samuel Robins Fund<br>Helen Widdowson<br>**Previous year:**<br>**At**<br>**Permanent endowments**<br>Samuel Robins Fund<br>Helen Widdowson|**1 January**<br>**2024**<br>**Resources**<br>**expended**<br>**Gains and**<br>**losses**<br>**At 31**<br>**December**<br>**2024**<br>**£**<br>**£**<br>**£**<br>**£**<br>1,888,578<br>(5,078)<br>(4,946)<br>1,878,554<br>40,308<br>-<br>2,341<br>42,649<br>1,928,886<br>(5,078)<br>(2,605)<br>1,921,203<br>**1 January**<br>**2023**<br>**Resources**<br>**expended**<br>**Gains and**<br>**losses**<br>**At 31**<br>**December**<br>**2023**<br>**£**<br>**£**<br>**£**<br>**£**<br>1,857,951<br>(5,026)<br>35,653<br>1,888,578<br>38,319<br>-<br>1,989<br>40,308<br>1,896,270<br>(5,026)<br>37,642<br>1,928,886|
|---|---|



The Samuel Robins fund arose when Samuel Robins (in a will dated 23rd April 1711) bequeathed a building in Gentleman's Walk in the Market Place in Norwich to the Society. Today the fund principally consists of listed investments derived from the sale of the building in 2000, two properties leased to the Assist Trust, 24 Pottergate (together with the linked cottage) in central Norwich and cash on deposit to fund investment in the redevelopment of 24 Pottergate. 

Income arising from those this endowment fund can be used in accordance with the objects of the Area Meeting. Any capital gains or losses arising on the investments form part of the fund. Investment management charges and legal advice relating to the fund are charged against the fund. 

The Helen Widdowson fund arose from a bequest of a member of the Society, Helen Widdowson. Income arising from this endowment fund must be used in accordance with the objects of the Area Meeting and, if possible, to support the upkeep of the fabric of North Walsham meeting house and its contents. 

- 46 - 



## **NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ 

## **28 Restricted funds** 

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. 

|**At 1**<br>Jay Reddaway<br>Fund<br>Thomas<br>Buckingham<br>fund<br>Norfolk<br>Community<br>Foundation<br>**Previous year:**<br>**At 1**<br>Jay Reddaway<br>Fund<br>Thomas<br>Buckingham<br>fund<br>Norwich<br>feasibility study|**January**<br>**2024**<br>**Incoming**<br>**resources**<br>**Resources**<br>**expended**<br>**Transfers**<br>**Gains and**<br>**losses**<br>**At 31**<br>**December**<br>**2024**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>188,578<br>-<br>(3,164)<br>-<br>(1,547)<br>183,867<br>8,383<br>209<br>-<br>-<br>-<br>8,592<br>-<br>2,000<br>(2,000)<br>-<br>-<br>-<br>196,961<br>2,209<br>(5,164)<br>-<br>(1,547)<br>192,459<br>**January**<br>**2023**<br>**Incoming**<br>**resources**<br>**Resources**<br>**expended**<br>**Transfers**<br>**Gains and**<br>**losses**<br>**At 31**<br>**December**<br>**2023**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>180,502<br>1,799<br>(4,840)<br>-<br>11,117<br>188,578<br>9,216<br>167<br>(1,000)<br>-<br>-<br>8,383<br>56,226<br>-<br>-<br>(56,226)<br>-<br>-<br>245,944<br>1,966<br>(5,840)<br>(56,226)<br>11,117<br>196,961|
|---|---|



Restricted funds include the following: 

The Jay Reddaway fund arose from a bequest of a member of the Society, Jay Reddaway. The fund must be used within the objects of the Area Meeting and to support Wells-next-the-Sea Local Meeting. 

The Thomas Buckingham fund, which has arisen from a donation from the Thomas Buckingham Trust prior to the winding up of that charity. The fund is restricted for the relief of poverty of poor Friends. 

The Norfolk Community Foundation arose from grant for providing Warm Spaces for Friends. The funding was used to cover room rent, promotions, supplies and equipment, however was primarily spent on room rent. 

- 47 - 



## **NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ 

## **29 Unrestricted funds** 

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. 

|**At**<br>General funds<br>Revaluation<br>reserve<br>**Previous year:**<br>**At**<br>General funds|**1 January**<br>**2024**<br>**Incoming**<br>**resources**<br>**Resources**<br>**expended**<br>**£**<br>**£**<br>**£**<br>5,117,487<br>325,488<br>(432,383)<br>-<br>-<br>-<br>**1 January**<br>**2023**<br>**Incoming**<br>**resources**<br>**Resources**<br>**expended**<br>**£**<br>**£**<br>**£**<br>5,013,613<br>342,602<br>(294,785)|**Transfers**<br>**Gains and**<br>**losses**<br>**At 31**<br>**December**<br>**2024**<br>**£**<br>**£**<br>**£**<br>-<br>(601,059)<br>4,409,533<br>-<br>175,140<br>175,140<br>**Transfers**<br>**Gains and**<br>**losses**<br>**At 31**<br>**December**<br>**2023**<br>**£**<br>**£**<br>**£**<br>56,226<br>(169)<br>5,117,487|
|---|---|---|



## **30 Analysis of net assets between funds** 

|**Unrestricted**<br>**Restricted**<br>**Endowment**<br>**funds**<br>**funds**<br>**funds**<br>**2024**<br>**2024**<br>**2024**<br>**£**<br>**£**<br>**£**<br>**At 31 December 2024:**<br>Tangible assets<br>2,734,345<br>-<br>-<br>Investment properties<br>1,488,812<br>-<br>1,291,188<br>Investments<br>2,042<br>180,128<br>617,674<br>Current assets/(liabilities)<br>359,474<br>12,331<br>12,341<br>4,584,673<br>192,459<br>1,921,203<br>**Unrestricted**<br>**Restricted**<br>**Endowment**<br>**funds**<br>**funds**<br>**funds**<br>**2023**<br>**2023**<br>**2023**<br>**£**<br>**£**<br>**£**<br>**At 31 December 2023:**<br>Tangible assets<br>2,560,653<br>-<br>-<br>Investment properties<br>2,089,871<br>-<br>1,291,188<br>Investments<br>2,041<br>186,774<br>624,591<br>Current assets/(liabilities)<br>464,922<br>15,187<br>13,107<br>Long term liabilities<br>-<br>(5,000)<br>-<br>5,117,487<br>196,961<br>1,928,886|**Total**<br>**2024**<br>**£**<br>2,734,345<br>2,780,000<br>799,844<br>384,146<br>6,698,335<br>**Total**<br>**2023**<br>**£**<br>2,560,653<br>3,381,059<br>813,406<br>493,216<br>(5,000)<br>7,243,334|
|---|---|



- 48 - 



# **NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS** 

# **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ 

## **31 Related party transactions** 

No trustee or other person related to the charity had any personal interest in any contract or transactions entered into by the charity during the year (2023: £nil). 

- 49 - 



**NORFOLK & WAVENEY AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS** 

**Letter of comment and audit findings** Year Ended 31 December 2024 MAPUS-SMITH & LEMMON LLP 



## **Contents** 

▪ Introduction 

- Ethical responsibilities 

▪ Approach to the audit 

- Materiality and risks 

▪ Audit issues and adjustments 

- Other matters and report 

- Appendices 

Norfolk & Waveney Area Quaker Meeting of the Religious Society of Friends – 31 December 2024 



## **Introduction** 

We have been engaged by the Trustees of Norfolk & Waveney Area Quaker Meeting of the Religious Society of Friends (further referred to as “The Charity”) to perform an audit of the financial statements for the ended year 31 December 2024. The terms of the are set out in our engagement engagement letter dated 25 May 2023. The audit has been performed in line with International Standards on Auditing (UK). 

Norfolk & Waveney Area Quaker Meeting of the Religious Society of Friends – 31 December 2024 



Ethical
responsibilities

## **Audit independence and objectivity** 

We confirm we have complied with the Financial Reporting Council’s (FRC) Ethical Standard and are able to issue an objective opinion on the financial statements. We have considered our integrity, independence and objectivity in respect of audit services provided and have identified potential threats for which we have applied appropriate safeguards as follows: 

## **Threat to objectivity and independence** 

Preparation of the statutory accounts from the extended trial balances extracted from Excel reports. 

## **Safeguard implemented** 

The preparation of accounts is considered a mechanical exercise from the TB which has been extracted from the excel cashbooks prepared by local treasurers. Any adjustments identified are approved by management to mitigate this risk. 

Norfolk & Waveney Area Quaker Meeting of the Religious Society of Friends – 31 December 2024 



Approach to
the audit

## **General approach** 

Our general audit approach has been determined by our assessment of the audit risk, both in terms of the potential misstatement in the financial statements and of the control environment in which the company operates. 

To summarise our approach, we have: 

- Updated our understanding of the charitable organisation and its environment; 

Significant risks will arise on most audits and are often derived from organisational risks that may result in a material misstatement, relate to unusual transactions that occur infrequently, or judgemental matters where measurement is uncertain. In areas where we identified the potential for significant risk, we extended our audit testing to include more detailed substantive work. Our work in other areas will be proportionally less. 

- Reviewed the design and implementation of key internal financial control systems; and 

- Planned and performed an audit with professional scepticism recognising that circumstances may exist that cause the financial statements to be materially misstated. 

Norfolk & Waveney Area Quaker Meeting of the Religious Society of Friends – 31 December 2024 



## **Understanding the charitable organisation** 

Events with a significant impact on the charity during the year were 

- Treasurer changes at Local Meeting Level. 

- Continued development of Pottergate premises. 

We were not advised of any other changes/events occurring during the year. 

Norfolk & Waveney Area Quaker Meeting of the Religious Society of Friends – 31 December 2024 



## **Fraud** 

## **Responsibilities** 

It is those charged with governance who are responsible for the detection and prevention of fraud and error. Our objective was to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. 

Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

## **Guidance** 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: https://www.frc.org.uk/OurWork/Audit/Audit-andassurance/Standards-and-guidance/Standardsand-guidance-forauditors/Auditors- 

responsibilities-for-audit/Description-of-auditorsresponsibilities-foraudit.aspx. This description forms part of our auditor’s report. 

## **Findings** 

During our audit work performed we have not identified or been alerted to any instances of fraud. If management are aware of any instances of fraud, please inform Sharon Edwards. 

Norfolk & Waveney Area Quaker Meeting of the Religious Society of Friends – 31 December 2024 



Materiality
and risks

## **Materiality** 

We applied the concept of materiality both in planning and performing the audit, and in evaluating the effect of identified misstatements on the audit and of uncorrected misstatements. In general, misstatements, including omissions, are considered to be material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements. 

|Component|Materiality||Performance||Triviality||
|---|---|---|---|---|---|---|
||||Materiality||||
|Norfolk and||9,400||7,050||470|
|Waveney Quakers|||||||



Judgements about materiality are made in the light of surrounding circumstances, and are affected by our perception of the financial information needs of users of the financial statements, and by the size or nature of a misstatement, or a combination of both. 

Any errors greater than triviality have been recorded and discussed with you and, if not adjusted, confirmed as immaterial as part of your letter of representation to us. 

Materiality was set at £9,400 with triviality set at £470. 

Norfolk & Waveney Area Quaker Meeting of the Religious Society of Friends – 31 December 2024 



## **Risks** 

|Significant Risk|Audit approach|Audit findings|
|---|---|---|
|Fraud concerning revenue<br>recognition|We have performed substantive testing on the completeness and<br>occurrence of income, ensuring that our samples reflect the higher risk<br>associated with a significant risk. Furthermore, journals were reviewed<br>to ensure no unusual postings were made to revenue to boost turnover<br>and surplus funds.|We<br>did<br>not<br>identify<br>any<br>issues<br>regarding<br>fraud<br>regarding<br>revenue<br>recognition.|
|Management override of<br>controls|1.<br>Journal entry testing performed by looking at unusual journal entries<br>posted which impacted on the profit of the entity as well as unusual<br>postings at weekends and by individuals who we would not be<br>expect to post to the ledgers.<br>2.<br>Audit staff remained sceptical at all times challenging management<br>with estimates and workings provided.<br>3.<br>Appropriateness of adjustments have been challenged and agreed<br>with management.|Following our work performed we are<br>comfortable<br>that<br>the<br>financial<br>statements appear free from material<br>misstatement which would have arisen<br>from<br>the override of<br>controls. It is<br>important to note we have not placed<br>any reliance on controls.|
|Records presented in different<br>formats by local treasurers|1.<br>Ensure all relevant results are discussed with both local treasurers<br>and area management for any discrepancies found.|No issues found which would affect the<br>material misstatement of the financial<br>statements.|



Significant risks areas identified at the planning stage of the audit and how these areas have been addressed are detailed to the left. We have detailed the approach we took to mitigate the specified risk and concluded on whether there were any issues identified from our testing performed. 

Norfolk & Waveney Area Quaker Meeting of the Religious Society of Friends – 31 December 2024 



## **Risks** 

|Significant Risk|Audit approach|Audit findings|
|---|---|---|
|Property valuation not<br>performed for several years.|1.<br>Review any documentation previously derived by third parties.<br>2.<br>Enquire into similar property valuations around the area, take into<br>consideration allowance for rented properties, and buildings used for<br>specific purpose.<br>3.<br>Discuss any valuations performed with informed management.|Valuations were performed in 2024 by<br>Arnold Keys, a firm of RICS registered<br>Chartered<br>Surveyors.<br>The<br>property<br>valuations<br>have<br>been<br>updated<br>accordingly. The Trustees confirmed<br>these were still appropriate at year end.|
|Going Concern|1.<br>Review any budgets for 2025 and 2026 to ascertain future expected<br>cash balance.<br>2.<br>Review other methods<br>available to the charity in generating<br>additional funds.|We have reviewed going concern for<br>the charity and the cash position has<br>improved since the year end following<br>the sale of property in Wells-next-the-<br>Sea.|



Significant risks areas identified at the planning stage of the audit and how these areas have been addressed are detailed to the left. We have detailed the approach we took to mitigate the specified risk and concluded on whether there were any issues identified from our testing performed. 

Norfolk & Waveney Area Quaker Meeting of the Religious Society of Friends – 31 December 2024 



Audit issues
and
adjustments

## **Audit issues** 

|Issue|Risk|Recommendation|
|---|---|---|
|No terms could be seen for<br>the<br>loans<br>provided<br>by<br>British Yearly Meeting.|There is a risk that disclosures relating to the terms of the<br>loans are missing from the financial statements.|Ensure<br>evidence<br>relating<br>to<br>the<br>loans<br>provided<br>to<br>Norwich<br>and<br>Norfolk<br>Areas<br>are<br>documented<br>properly and any agreements with<br>British Yearly Meeting attaining to<br>these are documented.|
|No specific records were<br>maintained relating to the<br>monitoring<br>of<br>Restricted<br>and Endowment funds by<br>the treasurers.|Risk that expenditure relating to funds held for these<br>purposes, are not correctly recorded, meaning these specific<br>funds could be misstated in the financial statements.|Each Local Meeting to keep analysis<br>of all restricted funds it holds, with<br>the<br>Area<br>Meeting<br>reviewing<br>any<br>documentation along with its own<br>endowment funds.|



Through our audit testing performed we identified a number of control deficiencies or areas which are to be reviewed by management to ensure accurate financial information going forward along with mitigating risk. 

Norfolk & Waveney Area Quaker Meeting of the Religious Society of Friends – 31 December 2024 



## **Adjustments – Norfolk & Waveney Area Quakers** 

|**Description of adjustment**|**Type**|**Profit and loss**<br>**Dr/(Cr)**|**Balance Sheet**<br>**Dr/(Cr)**|
|---|---|---|---|
|Fixed Assets – Revalue Properties as per Arnold Keys|Factual|(175,140)|175,140|
|Fixed Assets – Revalue Properties as per Arnold Keys|Factual|601,059|(601,059)|
|Debtors – Rent received relating to YE Dec 2024|Factual|(7,906)|7,906|
|Debtors – Being Wells investment income|Factual|(6,172)|6,172|
|Income – Reclassify restricted grant received|Reclassification|2,000.00/<br>(2,000.00)|-|
|Expenditure – Reclassify Meeting house costs|Reclassification|2,000.00/<br>(2,000.00)|-|



Norfolk & Waveney Area Quaker Meeting of the Religious Society of Friends – 31 December 2024 



Other
matters and
report

## **Other matters** 

1. Please refer to pages titled “Audit issues” for items identified relating to the qualitative aspects of the accounting practices and financial reporting. We have no other comments to make. 

2. Please refer to pages titled “Audit issues”, for significant difficulties during the audit. There are no other significant findings from the audit to draw to your attention. 

3. A draft of our proposed letter of representation has already been provided to you. We draw your attention to the paragraphs concerning going concern. In other respects, the letter is routine. 

4. Please refer to Appendix I for all unadjusted items determined during the course of our audit, except for those considered to be clearly trivial. 

5. As you are aware from our letter of engagement, our audit procedures were directed towards testing the accounting systems in operation upon which we have based our assessment of the accounts. Refer to section “Audit issues and adjustments” within this report in which details of actual and potential weaknesses identified during the course of our audit and our recommendations for improvements are detailed. It is not meant to be a full and accurate reflection of all weaknesses that may be present in your system. 

6. In making our recommendations, we have considered the size of your business and the number of staff you employ. We shall be glad if you will let us know what steps have been taken in connection with the above. 

7. We do not propose any modifications to our audit opinion and hence will be issuing a clean audit report. 

8. We have discussed with you the fact that we provide accounting and taxation services to the company in addition to acting as auditors. As previously highlighted in the report we wish to confirm to you that in our opinion the provision of such services do not affect our independence as the additional services provided are of a routine compliance nature and the director takes any decisions where judgement is required. 

Norfolk & Waveney Area Quaker Meeting of the Religious Society of Friends – 31 December 2024 



## **Report** 

We would like to take this opportunity of expressing our thanks to your staff for their assistance during the course of our audit. 

Please note that this report has been prepared for the sole use of Norfolk and Waveney Area Quaker Meeting of the Religious Society of Friends. It must not be disclosed to third parties, quoted or referred to, without our prior written consent. No responsibility is assumed by us to any other person. 

The purpose of the audit was to enable us to express an opinion on the financial statements. The audit included consideration of internal control relevant to the preparation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of internal control. The matters reported above are limited to those deficiencies that the auditor has identified during the audit and that the auditor has concluded are of sufficient importance to merit being reported to those charged with governance. 

If we can be of any further assistance, please contact Sharon Edwards. 

Yours faithfully, 

## **Mapus-Smith & Lemmon LLP** 

Norfolk & Waveney Area Quaker Meeting of the Religious Society of Friends – 31 December 2024 



Appendices

## **– Appendix I Unadjusted items** 

||**Impact**|**Impact**|
|---|---|---|
||**P&L**<br>Dr/(Cr)|**BS**<br>Dr/(Cr)|
|Debtors cut off – Jan 25 bankings relating to Dec 24 room hire|(133.00)|133.00|
|Debtors cut off – Rent received Jan 25 relating to Dec 24|(380.47)|380.47|
|Creditors cut off – Being prepayment of subscription|(123.00)|123.00|
|Creditors cut off – Being additional accrued expenses|1,378.54|(1,378.54)|
|**TOTAL**|**(742.07)**|**742.07**|



Norfolk & Waveney Area Quaker Meeting of the Religious Society of Friends – 31 December 2024