## **OXFORD AND SWINDON AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN** **UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020** |||INDEX| |---|---|---| |Page|1|Legal and Administrative Information| ||2-4|Report of the Board of Trustees| ||5|Independent Examiner’s Report| ||6|Statement of Financial Activities| ||7|Balance Sheet| ||8-14|Notes to the accounts| Registered charity number: 1137897 Registered company number: 06947462 **OXFORD AND SWINDON AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN LEGAL AND ADMINISTRATIVE INFORMATION** |Registered charity number:|1137897| |---|---| |Registered company number:|06947462| |Principal (and) Registered Office:|43 St Giles| ||Oxford| ||OX1 3LW| |Independent Examiners:|Critchleys Audit LLP| ||Beaver House| ||23-38 Hythe Bridge Street| ||Oxford| ||OX1 2EP| |Trustees:|Jennifer Barraclough| ||Nigel Braithwaite| ||Katherine Gee| ||Barry Mercer| ||Alan Pearmain| ||Terence Pollard| ||Nina Stimson| ||Stephen Yeo| 1 **OXFORD AND SWINDON AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** The Oxford and Swindon Area Quaker Meeting of the Religious Society of Friends (Quakers) in Britain is a company limited by guarantee and registered as a charity under the Charities Act under the name The Religious Society of Friends The Oxford and Swindon Area Quaker Meetings Charities. The charitable company is governed by its Memorandum and Articles of Association. The Charity was incorporated as a company on June 29[th] 2009 (registered company number 06947462) and registered by the Charity Commission on September 23[rd] 2010 (charity number 1137897). Prior to registration with the Charity Commission, the charity held excepted charity status. The Board of Trustees appoint new members of the Board either to fill a casual vacancy or by way of addition to the Board. Particular emphasis is placed upon the appointment of Trustees with knowledge and experience relevant to the charitable company’s activities. Before appointment, proposed new trustees are asked to read induction materials which include a trustee job description, background information on the charity, and an overview of their responsibilities under the Companies and Charities Acts. Day to day administration of the charity is delegated to the Local Meetings under the supervision of the Board of Trustees. Decision-making powers are retained by the Trustees and exercised at their regular meetings. The trustee directors set out below held office during the whole of the period except where otherwise stated. The company has no share capital and the directors have no interests in it. Jennifer Barraclough Nigel Braithwaite Katherine Gee (appointed 13 May 2021) Robert Kyte (resigned 13 March 2021) Barry Mercer (appointed 13 May 2021) Alan Pearmain Terence Pollard Nina Stimson Stephen Yeo The Trustees have identified and considered the major risks to which the charity is exposed and have established systems and procedures to manage those risks. Quakers have no paid ministry, so the work and administration of both the Area meeting and its constituent local meetings are mostly carried out by volunteers. 2 **OXFORD AND SWINDON AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020** _**(continued)**_ ## **OBJECTIVES AND ACTIVITIES** The objects of the Charity are, for the public benefit, ‘to advance the religious purposes of the Religious Society of Friends (Quakers) in Britain in the area of the Oxford and Swindon Area Quaker Meeting and beyond’. These objects are mainly achieved through holding weekly public meetings for worship at our local meetings. ## **ACHIEVEMENTS AND PERFORMANCE** Meetings for Worship are held on Sundays by the constituent Local Meetings, which are open to the public and conducted in the manner of Friends. Additional meetings are held during the week at Oxford Quaker Meeting House and Swindon Meeting House. The Local Meetings make arrangements for the pastoral care (oversight) and for the spiritual life (eldership) of their membership in accordance with Quaker Faith and Practice: the book of Christian discipline of the Religious Society of Friends (Quakers). The management of the business of the Area Meeting is conducted at meetings for church affairs in which Members and Attenders may participate and also similar meetings conducted by the constituent Local Meetings and at meetings of Trustees. These meetings have continued to take place, using Zoom technology. The Trustees have received reports on the maintenance and management of the properties in their ownership and have considered certain improvements and general upkeep. The Trustees have reviewed the insurance cover and assessed the risks facing the Charity. We have sought advice from our insurers on recovering losses to our income because of the pandemic. Trustees continue to review and update the handbook 'Towards Right Ordering: a handbook for the management of local meetings within Oxford and Swindon Area Meeting'. In late 2020, Bates Wells, solicitors, were employed to provide specialist legal advice on the updating, to ensure that we remained consistent with current law. The update has now largely been completed, though a key exception is that of the section on Safeguarding. This is currently on hold awaiting further guidance from Britain Yearly Meeting. From March 2020, all Local Meetings conducted their worship in accordance with national restrictions relating to the COVID-19 pandemic. Representative trustees have been kept informed of the arrangements, and reports have been given regularly to the trustee body. Most meetings introduced worship through Zoom, and meeting houses remained closed except for authorized groups and for those periods when lockdown was lifted. We are aware that this has had significant effects on the spiritual life of our faith community, and on its finances, as reflected in these accounts. Some major projects have had to be put on hold, most notably that planned for the development of the garden room in Oxford Meeting House, where staff have been furloughed. Witney LM has had to take the decision to lay itself down. However, we have also seen imaginative responses to these unprecedented circumstances and have commissioned a survey of the future for our Area Meeting, to be considered during 2021. We remain confident that we have the resources, both material and spiritual, to respond to the challenges of 2020 and to plan for the future in faith and hope. ## **FINANCIAL REVIEW** The financial statements of the charity for the year ended 31[st] December 2020 include the income and expenditure, as well as the assets and liabilities of the Area Meeting and all its constituent local meetings. The charity had an operational deficit of £65,766 (2019: surplus £84,486) during the year ended 31[st] December 2020 The charity had an investment loss of £15,150 (2019: investment gain of £59,590) during the year ended 31[st] December 2020. The principal variances in comparison to 2019 was a decrease in total income of £147,103. The total funds of the Charity at 31 December 2020 were £2,333,285 (2019: £2,414,201). 3 **OXFORD AND SWINDON AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020** _**(continued)**_ ## **RESERVES POLICY** Each local meeting is required to hold enough reserves to fund a six months activities. In addition, each local meeting which owns a meeting house must hold a designated building reserve based on the Quinquennial Review and an assessment of risks, agreed between the Area Meeting Treasurer and the Property Trustee. The Trustees are aware of their duty to apply funds of the charity within a reasonable time of their receipt and monitor the level of actual reserves against the above target levels on an on-going basis. ## **FUTURE PLANS** In future, the charity plans to maintain its current provision of local meetings and to continue to provide opportunities for the general public to encounter worship with the Society of Friends. ## **RESPONSIBILITIES OF THE TRUSTEES** The Trustees (who are also the directors of The Oxford and Swindon Area Quaker Meetings Charities for the purposes of company law) are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law 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 charitable company and of the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to: - Select suitable accounting policies and then apply them consistently - Observe the methods and principles in the Charities SORP - Make judgements and estimates that are reasonable and prudent - State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements - Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for the safeguarding the assets of the charitable company and hence for taking responsible steps for the prevention and detection of the fraud and other irregularities. Approved on 2021 and signed by order of the Trustees: ................................................................. B Mercer Trustee/Director 4 **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF OXFORD AND SWINDON AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN** I report to the Trustees on my examination of the accounts of the company for the year ended 31[st] December 2020, which are set out on pages 6 to 14. ## **Responsibilities and basis of report** As the charity’s trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (the ‘2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner’s report** Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the ICAEW, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those accounting records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Katherine Wilkes FCA Critchleys Audit LLP Beaver House 23-38 Hythe Bridge Street Oxford OX1 2EP …………………… 2021 5 ## **Oxford and Swindon Area Quaker Meeting of the Religious Society of Friends (Quakers) in Britain Statement of Financial Activities For the year ended 31 December 2020 (including Income and Expenditure Account)** **----- Start of picture text -----**
Unrestricted Restricted Endowment Total Total
Funds Funds Funds 2020 2019
Note £ £ £ £ £
Income and endowments from:
Donations and legacies 2 151,447 10,533 - 161,980 221,343
Other trading activities 3 67,597 - - 67,597 168,883
Investment income 4 7,038 - - 7,038 7,856
Other income 16,836 - - 16,836 2,472
Total income 242,918 10,533 - 253,451 400,554
Expenditure on:
Raising funds 5 3,991 - - 3,991 10,656
Charitable activities 6 312,418 2,808 - 315,226 305,412
Total 316,409 2,808 - 319,217 316,068
-
Operational (expenditure) / income (73,491) 7,725 (65,766) 84,486
- -
Net gains on investments (15,150) (15,150) 59,590
-
Net (expenditure) / income before transfers (88,641) 7,725 (80,916) 144,076
Transfers between funds 12 2,000 (2,000) - - -
Net movement in funds (86,641) 5,725 - (80,916) 144,076
Reconciliation of Funds
Funds brought forward at 1 January 2020 2,324,426 89,770 5 2,414,201 2,270,125
Funds carried forward at 31 December 2020 2,237,785 95,495 5 2,333,285 2,414,201
**----- End of picture text -----**
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities. 6 **Company number: 6947462** ## **Oxford and Swindon Area Quaker Meeting of the Religious Society of Friends (Quakers) in Britain Balance sheet As at 31 December 2020** **----- Start of picture text -----**
2020 2020 2019 2019
Notes £ £ £ £
Fixed assets
Tangible assets 8 33,783 45,432
Investments 9 1,700,679 1,715,829
Current assets
Debtors 10 10,187 22,957
Cash at bank and in hand 620,368 660,615
630,555 683,572
Liabilities
Creditors: Amounts falling due within one year 11 (31,732) (30,632)
Net current assets 598,823 652,940
Total net assets 2,333,285 2,414,201
Funds: 12
Endowment funds 5 5
Restricted funds 95,495 89,770
Unrestricted funds 2,237,785 2,324,426
Total funds 2,333,285 2,414,201
**----- End of picture text -----**
For the financial year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of the accounts. The financial statements were approved by the trustees and authorised for issue on and are signed on their behalf by: **B Mercer** Trustee/Director The notes numbered 1 to 16 form part of these financial statements. 7 **Oxford and Swindon Area Quaker Meeting of the Religious Society of Friends (Quakers) in Britain Notes to the financial statements For the year ended 31 December 2020** ## **1 Statement of Accounting Policies** A summary of the principal accounting policies adopted (which have been applied consistently, except where noted), judgements and key sources of estimation uncertainty, is set out below. Oxford and Swindon Area Quaker Meeting of the Religious Society of Friends (Quakers) in Britain is a charitable company in the United Kingdom. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities are holding public meeting for worship. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective from 1 January 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity. ## **Income** All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income, after any performance conditions have been met. The amount can be measured reliably and it is probable that the income will be received. ## **Donations** For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation which requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. ## **Grants** Income from grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amounts can be measured reliably. If entitlement is not met then these amounts are deferred. ## **Legacies** For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed. ## **Trading activities** Income from trading activities includes income earned from trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred. ## **Investment income** Investment income is earned through holding assets for investment purposes such as shares and property. It includes dividends, interest and rent. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established. ## **Income from activities for generating funds** Income from activities for generating funds consists of income from sale of work, which is recognised when earned. 8 ## **Oxford and Swindon Area Quaker Meeting of the Religious Society of Friends (Quakers) in Britain Notes to the financial statements For the year ended 31 December 2020** ## **1 Statement of Accounting Policies (continued)** ## **Expenditure** All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings: ## **Costs of raising funds** These costs include all expenditure incurred by the charity to raise funds for its charitable purposes and include costs of all fundraising activities events and non-charitable trading. ## **Expenditure on charitable activities** These costs include support costs and costs relating to the governance of the charity apportioned to charitable activities. Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees' Annual Report. ## **Tangible Fixed Assets** Tangible Fixed Assets are stated at historical cost less depreciation. Depreciation is provided using various bases and rates which reflect the anticipated useful lives of the various assets and their estimated residual values. Depreciation is charged on the following bases: Land and buildings 50 years straight line Building improvements 10 years straight line Freehold land is not depreciated ## **Investments** Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in 'net gains/(losses) on investments' in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment. Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in 'net gains / (losses) on investments' in the SoFA. Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. ## **Estimates** Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. ## **Tax** The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for the UK corporation tax purposes. 9 **Oxford and Swindon Area Quaker Meeting of the Religious Society of Friends (Quakers) in Britain Notes to the financial statements For the year ended 31 December 2020** |**2**
**Donations and legacies**
Contributions / Schedules
Collections / Fundraising
Legacies / Grants from Trusts
Donated goods
Other donations|**Total**
**2020**
**£**
**146,153**
**11,935**
**-**
**3,892**
**-**
**161,980**|**Total**
**2019**
**£**
**135,677**
**73,392**
**6,000**
**6,274**
**-**
**221,343**| |---|---|---| The income from donations and capital grants was £161,980 (2019: £221,343) of which £151,447 was unrestricted (2019: £141,979), £10,533 restricted (2019: £79,364) and £Nil endowments (2019: £Nil). ## **3 Income from other trading activities** |Lettings / Use of Premises
Sales of literature
Other|**Total**
**2020**
**£**
**67,577**
**20**
**-**
**67,597**|**Total**
**2019**
**£**
**167,361**
**118**
**1,404**
**168,883**| |---|---|---| The other trading activities income was £67,597 (2019: £168,883) of which £67,597 was unrestricted (2019: £167,479), £Nil restricted (2019: £1,404) and £Nil endowments (2019: £Nil). - **4 Income from investments** |Other|**Total**
**2020**
**£**
**7,038**
**7,038**|**Total**
**2019**
**£**
**7,856**
**7,856**| |---|---|---| The investment income was £7,038 (2019: £7,856) of which £7,038 was unrestricted (2019: £7,856), £Nil restricted (2019: £Nil) and £Nil endowments (2019: £Nil). 10 **Oxford and Swindon Area Quaker Meeting of the Religious Society of Friends (Quakers) in Britain Notes to the financial statements For the year ended 31 December 2020** ## **5 Expenditure on raising funds** Raising funds |**Total**
**2020**
**£**
**3,991**
**3,991**|**Total**
**2019**
**£**
**10,656**
**10,656**| |---|---| Expenditure on raising funds was £3,991 (2019: £10,656) of which £3,991 was unrestricted (2019: £10,656), £Nil restricted (2019: £Nil) and £Nil endowment (2019: £Nil). ## **6 Expenditure on Charitable activities** |**Direct costs:**
**£**
**£**
**£**
**£**
Grants payable
-
-
-
93,640
Premises costs
-
-
-
63,305
Library/outreach
1,930
-
Insurance
15,885
-
Depreciation
11,649
-
Other charitable expenditure
-
-
-
54,016
**Support costs:**
Staff costs
-
-
-
60,972
Independent examination fees
-
-
-
-
Legal and professional fees
-
-
-
13,829
**29,464**
**-**
**-**
**285,762**
**0**
**0**
**0**
**0**|**Total**
**2020**
**£**
**93,640**
**63,305**
**1,930**
**15,885**
**11,649**
**54,016**
**240,425**
**60,972**
**6,820**
**7,009**
**74,801**
**315,226**|**Total**
**2019**
**£**
**89,284**
**107,827**
**2,374**
**9,531**
**11,649**
**13,279**
**233,944**
**63,478**
**7,365**
**625**
**71,468**
**305,412**| |---|---|---| Expenditure on charitable activities was £315,226 (2019: £305,412) of which £312,418 was unrestricted (2019: £298,733), £2,808 restricted (2019: £6,679) and £Nil endowment (2019: £Nil). 11 **Oxford and Swindon Area Quaker Meeting of the Religious Society of Friends (Quakers) in Britain Notes to the financial statements For the year ended 31 December 2020** ## **7 Staff costs and trustees' remuneration and expenses** Four staff members were employed during the year (2019: four). No employee was paid in excess of £60,000 and no pension contributions were made in this or the preceeding period. The trustees neither received or waived any remuneration during the year, or had any expenses reimbursed during the year (2019: £Nil). ## **8 Tangible fixed assets** |Investment
Building
Plant and
Fixtures and
Properties
Improvements
machinery
fittings
£
£
£
£
**Cost**
-
-
-
-
-
-
-
-
As at 31 December 2020
-
-
-
-
**Depreciation**
-
-
-
Charges in period
-
-
-
-
As at 31 December 2020
-
-
-
-
**Net book values**
As at 31 December 2020
**-**
**-**
**-**
**-**
-
-
-
-
As at 1 January 2020
As at 1 January 2020
As at 1 January 2020|**Building**
**Improvements**
**£**
314,381
314,381
268,949
11,649
280,598
**33,783**
45,432|**Total**
**£**
**314,381**
**314,381**
**268,949**
**11,649**
**280,598**
**33,783**
45,432| |---|---|---| ## **9 Investments** |Investment
Properties
£
£
**Cost or valuation**
As at 1 January 2020
1,253,583
-
Movement in market value
-
-
As at 31 December 2020
1,253,583
-
**Carrying amount**
As at 31 December 2020
**1,253,583**
**-**
As at 1 January 2020
1,253,583
-
Programme
related|**Social**
**Investment**
**investments**
**properties**
**£**
**£**
**£**
10,500
1,253,583
451,746
-
-
(15,150)
10,500
1,253,583
436,596
**10,500**
**1,253,583**
**436,596**
10,500
1,253,583
451,746
**Other**
**investments**|**Total**
**£**
**1,715,829**
**(15,150)**
**1,700,679**
**1,700,679**
**1,715,829**| |---|---|---| The investments are held primarily to generate an investment return for the charity. 42 St Giles was revalued during 2015 by Nigel Braithwaite. Revaluation will typically occur every five years. Revaluation did not occur in 2020 due to the impact of COVID-19. ## **10 Debtors** |Other debtors and prepayments
**11 Creditors: amounts falling due within one year**
Other creditors and accruals|**2020**
**£**
10,187
**2020**
**£**
31,732|**2019**
**£**
22,957
**2019**
**£**
30,632| |---|---|---| 12 ## **Oxford and Swindon Area Quaker Meeting of the Religious Society of Friends (Quakers) in Britain Notes to the financial statements For the year ended 31 December 2020** ## **12 Funds** |**Restricted general funds**
Garden Room
Dudderige
Sharp Ross
Faringdon
Abingdon
Charlbury
Marlborough
Swindon
Others
**Endowment funds**
**Unrestricted funds**
Unrestricted funds (general)
Unrestricted funds (designated)
**Total funds**|**Balance at**
**1 January**
**2020**
**Income**
**Expenditure Gains/(losses) Transfers**
**£**
**£**
**£**
**£**
73,090
6,440
-
-
-
9,166
-
(99)
-
-
5,307
-
-
-
-
2,332
260
(264)
-
(2,000)
-
435
(335)
-
-
105
328
(433)
-
-
(86)
638
(638)
-
-
(215)
2,432
(1,039)
-
-
71
-
-
-
-
89,770
10,533
(2,808)
-
(2,000)
5
-
-
-
-
507,334
189,658
(247,553)
-
21,124

1,817,092
53,260
(68,856)
(15,150)
(19,124)
2,324,426
242,918
(316,409)
(15,150)
2,000
**2,414,201**
**253,451**
**(319,217)**
**(15,150)**
**-**|**Balance at**
**31 December**
**2020**
**£**
**79,530**
**9,067**
**5,307**
**328**
**100**
**-**
**(86)**
**1,178**
**71**
**95,495**
**5**
**470,564**
**1,767,221**
**2,237,785**
**2,333,285**| |---|---|---| The Evelyn Dudderidge Fund comprises monies provided to be used for education. The fund is maintained by the Burford Local meeting. The Sharp/ Ross Fund comprises monies provided to be used for peace work studies. The fund is maintained by Burford Local meeting. The meeting house of the Faringdon local meeting forms a permanent endowment. Its value is recorded at original cost. The capital of this fund cannot be expended. The £2,000 transfer relates to the cost of access work performed in previous years. The restriction no longer applies. Designated funds are primarily comrprised of building and property funds, to be used for the repair, maintenance, restoration or development of property held by the charity, and operational reserves. There are also a number of smaller designated reserves maintained by local meetings. Transfers between funds represent transfers to maintain the operational reserve, as well as funds to be used replacing the Garden Room at the Oxford Quaker Meeting. ## **13 Analysis of net assets between funds** Fund balances at 31 December 2020 are represented by: |Investments
Tangible fixed assets
Current assets
Current liabilities
**Total net assets**|**Unrestricted**
**Designated**
**Restricted**
**Endowment**
**funds**
**funds**
**funds**
**funds**
**£**
**£**
**£**
**£**
278,235
1,408,070
14,374
-
-
33,778
-
5
224,060
325,374
81,121
-
(31,732)
-
-
-
470,564
1,767,221
95,495
5|**Total**
**funds**
**£**
**1,700,679**
**33,783**
**630,555**
**(31,732)**
**2,333,285**| |---|---|---| The meeting house of the Faringdon local meeting forms a permanent endowment. Its value is recorded at original cost. The capital of this fund cannot be expended. 13 **Oxford and Swindon Area Quaker Meeting of the Religious Society of Friends (Quakers) in Britain Notes to the financial statements For the year ended 31 December 2020** ## **14 Comparative funds** |**Restricted general funds**
Garden Room
Dudderige
Sharp Ross
Faringdon
Abingdon
Charlbury
Marlborough
Swindon
Others
**Endowment funds**
**Unrestricted funds**
Unrestricted funds (general)
Unrestricted funds (designated)
**Total funds**|**Balance at**
**1 January**
**2019**
**Income**
**Expenditure Gains/(losses) Transfers**
**£**
**£**
**£**
**£**
**£**
-
73,090
-
-
-
8,343
823
4,726
581
-
-
-
2,410
1,162
(1,240)
-
-
-
2,065
(2,065)
-
-
-
483
(378)
-
-
15
328
(429)
116
2,236
(2,567)
-
-
71
-
-
-
-
15,681
80,768
(6,679)
-
-
5
-
-
-
-
555,917
272,685
(206,573)
59,590
(174,285)

1,698,522
47,101
(102,816)
-
174,285
2,254,439
319,786
(309,389)
59,590
-
**2,270,125**
**400,554**
**(316,068)**
**59,590**
**-**|**Balance at**
**31 December**
**2019**
**£**
**73,090**
**9,166**
**5,307**
**2,332**
**-**
**105**
**(86)**
**(215)**
**71**
**89,770**
**5**
**507,334**
**1,817,092**
**2,324,426**
**2,414,201**| |---|---|---| ## **15 Comparative analysis of net assets between funds** |Investments
Tangible fixed assets
Net current assets
Current liabilities
**Total net assets**|**Unrestricted**
**Designated**
**Restricted**
**Endowment**
**funds**
**funds**
**funds**
**funds**
**£**
**£**
**£**
**£**
293,286
1,408,070
14,473
-
-
45,427
-
5
234,199
374,076
75,297
-
(30,632)
-
-
-
496,853
1,827,573
89,770
5|**Total**
**funds**
**£**
**1,715,829**
**45,432**
**683,572**
**(30,632)**
**2,414,201**| |---|---|---| ## **16 Status of the charitable company** The Oxford and Swindon area Quaker Meeting of the Religious Society of Friends (Quakers) in Britain is a charitable company limited by guarantee. The liability of the members in the event of the charitable company being liquidated is limited to £1 per member. There were 331 members at the year end. 14