Charity registration number 1137897
Company registration number 06947462 (England and Wales)
OXFORD AND SWINDON AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
OXFORD AND SWINDON AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Barry Mercer Jennifer Barraclough Katherine Gee Janet Harland Howard March Nicholas Mayhew
(Appointed 16 March 2022) (Appointed 15 February 2023)
Alan Pearmain Terence Pollard
Charity number 1137897 Company number 06947462 Principal (and Registered Office 43 St Giles Oxford OX1 3LW
Independent examiner
Critchleys Audit LLP Beaver House 23-38 Hythe Bridge Street Oxford OX1 2EP
OXFORD AND SWINDON AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 3 |
| Statement of Trustees' responsibilities | 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 - 7 |
| Balance sheet | 8 - 9 |
| Notes to the financial statements | 10 - 19 |
OXFORD AND SWINDON AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022
The Trustees present their annual report and financial statements for the year ended 31 December 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
Objectives and activities
The 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, Abingdon and Swindon Meeting House. The Local Meetings make arrangements for the pastoral care and for the spiritual life 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, together with the resumption of in person meetings.
The trustees have received reports on the maintenance and management of 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. There has been some success in recovering losses to our income because of the pandemic.
The implementation of appropriate safeguarding policies and practices has been undertaken during 2022/23, with assistance from Britain Yearly Meeting and one of our trustees with specialist knowledge. Trustees and others have taken appropriate training courses and DBS checks have been completed where necessary.
As the restrictions imposed because of the COVID pandemic have lifted, local meetings have been able to return to more normal use of their buildings, as well as continuing to make use of new technology.
We have continued to explore ways of consolidating administrative and financial work at an operational level across the AM.
We remain confident that we have the resources, both material and spiritual, to support an active and developing Area Meeting.
Financial review
The financial statements of the charity for the year ended 31[st] December 2022 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 surplus of £14,777 (2021: surplus of £207,597) during the year ended 31[st] December 2022. The charity had an investment loss of £35,257 (2021: investment gain of £52,138) during the year ended 31[st] December 2022. The principal variance in comparison to 2021 was a decrease in total income of £163,287, which was driven primarily by legacy receipts in the prior year, partially offset by increased rental income in the current year.
The total funds of the Charity at 31 December 2022 were £2,699,457 (2021: £2,719,937).
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OXFORD AND SWINDON AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
Reserves policy
Each local meeting is required to hold enough reserves to fund six months activities. The charity as a whole has unrestricted and undesignated reserves of £712,820, which is sufficient to support activities for a significant period. 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.
Plans for future periods
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.
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 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.
Barry Mercer Jennifer Barraclough Katherine Gee Janet Harland Howard March (Appointed 16 March 2022) Nicholas Mayhew (Appointed 15 February 2023) Alan Pearmain Terence Pollard Nigel Braithwaite (Retired 16 March 2022) Stephen Yeo (Retired 2 May 2022)
The Board consists of no fewer than five and no more than fifteen persons appointed by the members of the Charity. The Trustees are appointed from Friends nominated by the Area Meeting Nominations Committee. The Board can appoint up to three Friends as additional co-opted Trustees. They will hold office until the next annual general meeting, or where no annual general meeting is held, until 12 months following the original appointment, when they may be reappointed by the Board. No Trustee appointed in this way shall serve more than three years without the agreement of the members.
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.
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OXFORD AND SWINDON AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
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 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.
The Trustees' report was approved by the Board of Trustees.
.............................. Barry Mercer Trustee/Director
Date: .............................................
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OXFORD AND SWINDON AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN
STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2022
The Trustees, who are also the directors of Oxford and Swindon Area Quaker Meeting of the Religious Society of Friends (Quakers) In Britain for the purpose of company law, 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).
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 Charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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OXFORD AND SWINDON AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN
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 financial statements of Oxford and Swindon Area Quaker Meeting of the Religious Society of Friends (Quakers) In Britain (the Charity) for the year ended 31 December 2022.
Responsibilities and basis of report
As the Trustees of the Charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the Charity 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 the Charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the Charity’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 that in any material respect:
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1 accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements 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
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4 the financial statements 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 financial statements to be reached.
Katherine Wilkes FCA
Dated: .........................
Critchleys Audit LLP Beaver House 23-38 Hythe Bridge Street Oxford OX1 2EP
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OXFORD AND SWINDON AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2022
| Current financial year Unrestricted Restricted Endowment funds funds funds 2022 2022 2022 Notes £ £ £ Income and endowments from: Donations and legacies 3 179,469 2,735 - Income from other trading activities 4 127,207 - - Investments 5 7,888 - - Other income 12,738 - - Total income 327,302 2,735 - Expenditure on: Raising funds 6 4,845 - - Charitable activities 7 308,720 1,695 - Total expenditure 313,565 1,695 - Net gains/(losses) on investments 10 (33,713) (1,544) - Net (outgoing)/incoming resources before transfers (19,976) (504) - Net (outgoing)/incoming resources before transfers (19,976) (504) - Gross transfers between funds 31,802 (31,802) - Net movement in funds 11,826 (32,306) - Fund balances at 1 January 2022 2,623,292 96,640 5 Fund balances at 31 December 2022 2,635,118 64,334 5 |
Total 2022 £ 182,204 127,207 7,888 12,738 330,037 4,845 310,415 315,260 (35,257) (20,480) (20,480) - (20,480) 2,719,937 2,699,457 |
Total 2021 £ 381,425 80,975 5,576 25,348 |
|---|---|---|
| 493,324 | ||
| 3,387 | ||
| 282,340 | ||
| 285,727 | ||
| 179,055 | ||
| 386,652 386,652 - |
||
| 386,652 2,333,285 |
||
| 2,719,937 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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OXFORD AND SWINDON AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2022
Prior financial year
| Unrestricted Restricted Endowment funds funds funds 2021 2021 2021 Notes £ £ £ Income and endowments from: Donations and legacies 3 379,849 1,576 - Income from other trading activities 4 80,975 - - Investments 5 5,576 - - Other income 25,348 - - Total income 491,748 1,576 - Expenditure on: Raising funds 6 3,387 - - Charitable activities 7 281,256 1,084 - Total expenditure 284,643 1,084 - Net gains/(losses) on investments 10 179,055 - - Net (outgoing)/incoming resources before transfers 386,160 492 - Gross transfers between funds (653) 653 - Net movement in funds 385,507 1,145 - Fund balances at 1 January 2021 2,237,785 95,495 5 Fund balances at 31 December 2021 2,623,292 96,640 5 |
Total 2021 £ 381,425 80,975 5,576 25,348 |
|---|---|
| 493,324 | |
| 3,387 | |
| 282,340 | |
| 285,727 | |
| 179,055 | |
| 386,652 - |
|
| 386,652 2,333,285 |
|
| 2,719,937 |
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OXFORD AND SWINDON AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN
BALANCE SHEET
AS AT 31 DECEMBER 2022
| Notes Fixed assets Tangible assets 11 Investment properties 12 Investments 13 Current assets Debtors 14 Cash at bank and in hand Creditors: amounts falling due within one year 15 Net current assets Total assets less current liabilities Capital funds Endowment funds - general Income funds Restricted funds 16 Unrestricted funds Designated funds 17 General unrestricted funds |
2022 £ £ 42,288 1,380,500 463,977 1,886,765 49,439 798,914 848,353 (35,661) 812,692 2,699,457 5 64,334 1,922,298 712,820 2,635,118 2,699,457 |
2021 £ £ 22,135 1,380,500 499,234 1,901,869 11,298 843,364 854,662 (36,594) 818,068 2,719,937 5 96,640 1,917,961 705,331 2,623,292 2,719,937 |
2021 £ £ 22,135 1,380,500 499,234 1,901,869 11,298 843,364 854,662 (36,594) 818,068 2,719,937 5 96,640 1,917,961 705,331 2,623,292 2,719,937 |
|---|---|---|---|
| 1,901,869 818,068 |
|||
| 2,719,937 | |||
| 5 96,640 2,623,292 |
|||
| 2,719,937 |
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OXFORD AND SWINDON AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2022.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on .........................
..............................
Barry Mercer Trustee
Company registration number 06947462
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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 2022
1 Accounting policies
Charity information
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.
1.1 Accounting convention
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 2019.
The Charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
1.2 Going concern
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.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.
1.4 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.
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.
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OXFORD AND SWINDON AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
1 Accounting policies
(Continued)
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.
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.
1.5 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:
Cost 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.
1.6 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
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OXFORD AND SWINDON AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
1 Accounting policies
(Continued)
1.7 Fixed asset 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.
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Taxation
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.
2 Critical accounting estimates and judgements
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.
3 Donations and legacies
| Unrestricted Restricted funds funds 2022 2022 £ £ Contributions / Schedules 130,926 - Legacies receivable 43,446 - Donated goods and services - 1,940 Collections / Fundraising 5,097 795 179,469 2,735 |
Total Unrestricted Restricted funds funds 2022 2021 2021 £ £ £ 130,926 155,327 - 43,446 210,800 - 1,940 - 1,070 5,892 13,722 506 182,204 379,849 1,576 |
Total 2021 £ 155,327 210,800 1,070 14,228 |
|---|---|---|
| 381,425 |
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OXFORD AND SWINDON AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
4 Income from other trading activities
| Sales of Literature Lettings / Use of Premises |
Total 2022 £ 43 127,164 127,207 |
Total 2021 £ 160 80,815 |
|---|---|---|
| 80,975 |
| 5 | Investments | ||
|---|---|---|---|
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Other | 7,888 | 5,576 | |
| 6 | Raising funds | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Raising Funds | 4,845 | 3,387 | |
| 4,845 | 3,387 |
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OXFORD AND SWINDON AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
7 Charitable activities
| Staff costs Depreciation and impairment Grants Payable Premises Costs Library / Outreach Insurance Other Charitable Expenditure Legal and Professional Fees Analysis by fund Unrestricted funds Restricted funds |
Total 2022 £ 63,456 11,649 122,052 78,436 1,965 8,529 12,533 11,795 310,415 310,415 308,720 1,695 310,415 |
Total 2021 £ 58,751 11,649 105,983 75,788 1,744 7,090 8,095 13,240 |
|---|---|---|
| 282,340 | ||
| 282,340 | ||
| 281,256 1,084 |
||
| 282,340 |
8 Trustees
The Trustees neither received or waived any remuneration during the year, or had any expenses reimbursed during the year (2021: £Nil)
9 Employees
The average monthly number of employees during the year was:
| Employees Employment costs Wages and salaries |
2022 Number 4 2022 £ 63,456 |
2021 Number 4 |
|---|---|---|
| 2021 £ 58,751 |
There were no employees whose annual remuneration was more than £60,000.
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OXFORD AND SWINDON AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
| 10 Net gains/(losses) on investments Unrestricted Restricted funds funds 2022 2022 £ £ Revaluation of investments (33,713) (1,544) 11 Tangible fixed assets Cost At 1 January 2022 Additions At 31 December 2022 Depreciation and impairment At 1 January 2022 Depreciation charged in the year At 31 December 2022 Carrying amount At 31 December 2022 At 31 December 2021 12 Investment property Fair value At 1 January 2022 and 31 December 2022 |
Total Unrestricted funds 2022 2021 £ £ (35,257) 179,055 Building improvements £ 314,381 31,802 346,183 292,246 11,649 303,895 42,288 22,135 2022 £ 1,380,500 |
Total Unrestricted funds 2022 2021 £ £ (35,257) 179,055 Building improvements £ 314,381 31,802 346,183 292,246 11,649 303,895 42,288 22,135 2022 £ 1,380,500 |
|---|---|---|
| 346,183 | ||
| 292,246 11,649 |
||
| 303,895 | ||
| 42,288 | ||
| 22,135 | ||
| 2022 £ 1,380,500 |
The investments are held primarily to generate an investment return for the charity. 42 St Giles was revalued during 2021. Revaluation will typically occur every five years.
13 Fixed asset investments
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OXFORD AND SWINDON AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
| 13 | Fixed asset investments | (Continued) | ||
|---|---|---|---|---|
| Other | Social | Total | ||
| Investments | Investments | |||
| £ | £ | £ | ||
| Cost or valuation | ||||
| At 1 January 2022 | 488,734 | 10,500 | 499,234 | |
| Valuation changes | (35,257) | - | (35,257) | |
| At 31 December 2022 | 453,477 | 10,500 | 463,977 | |
| Carrying amount | ||||
| At 31 December 2022 | 453,477 | 10,500 | 463,977 | |
| At 31 December 2021 | 488,734 | 10,500 | 499,234 | |
| 14 | Debtors | |||
| 2022 | 2021 | |||
| Amounts falling due within one year: | £ | £ | ||
| Other debtors | 49,439 | 11,298 | ||
| 15 | Creditors: amounts falling due within one year | |||
| 2022 | 2021 | |||
| £ | £ | |||
| Other creditors | 35,661 | 36,594 |
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OXFORD AND SWINDON AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
16 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| Movement in funds | Movement in funds | Movement in funds | Movement in funds | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Balance at | Incoming | Resources | Transfers | Balance at | Incoming | Resources | **Transfers ** | Revaluations, | Balance at | |
| 1 January 2021 | resources | expended | 1 January 2022 | resources | expended | gains and | 31 December | |||
| losses | 2022 | |||||||||
| £ | £ | £ | £ | £ | £ | £ | £ | £ | £ | |
| Garden Room | 79,530 | 397 | - | - | 79,927 | 702 | - | (31,802) | - | 48,827 |
| Dudderige | 9,067 | 109 | - | 167 | 9,343 | 93 | - | - | (1,225) | 8,211 |
| Sharp Ross | 5,307 | - | - | 486 | 5,793 | - | - | - | (319) | 5,474 |
| Faringdon | 328 | 145 | (145) | - | 328 | - | - | - | - | 328 |
| Abingdon | 100 | 45 | (145) | - | - | 625 | (555) | - | - | 70 |
| Charlbury | - | 350 | (350) | - | - | - | - | - | - | - |
| Marlborough | (86) | 530 | (444) | - | - | 695 | (695) | - | - | - |
| Swindon | 1,178 | - | - | - | 1,178 | 620 | (445) | - | - | 1,353 |
| Others | 71 | - | - | - | 71 | - | - | - | - | 71 |
| 95,495 | 1,576 | (1,084) | 653 | 96,640 | 2,735 | (1,695) | (31,802) | (1,544) | 64,334 |
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.
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OXFORD AND SWINDON AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
17 Designated funds
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:
| Movement in funds Balance at 1 January 2021 Incoming resources Resources expended Transfers Revaluations, gains and losses 1 £ £ £ £ £ Unrestricted funds (Designated) 1,767,222 65,496 (98,833) 57,159 126,917 1,767,222 65,496 (98,833) 57,159 126,917 Analysis of net assets between funds Unrestricted funds Designated funds Restricted funds Endowment funds 2022 2022 2022 2022 £ £ £ £ Fund balances at 31 December 2022 are represented by: Tangible assets - 42,283 - 5 Investment properties - 1,380,500 - - Investments 295,806 154,486 13,685 - Current assets/(liabilities) 417,014 345,029 50,649 - 712,820 1,922,298 64,334 5 |
Movement in funds Balance at January 2022 Incoming resources Resources expended Transfers Revaluations, gains and losses Balance at 31 December 2022 £ £ £ £ £ £ 1,917,961 44,448 (97,196) 63,481 (6,396) 1,922,298 1,917,961 44,448 (97,196) 63,481 (6,396) 1,922,298 Total Unrestricted funds Designated funds Restricted funds Endowment funds Total 2022 2021 2021 2021 2021 2021 £ £ £ £ £ £ 42,288 - 22,130 - 5 22,135 1,380,500 - 1,380,500 - - 1,380,500 463,977 329,611 154,487 15,136 - 499,234 812,692 375,720 360,844 81,504 - 818,068 2,699,457 705,331 1,917,961 96,640 5 2,719,937 |
Movement in funds Balance at January 2022 Incoming resources Resources expended Transfers Revaluations, gains and losses Balance at 31 December 2022 £ £ £ £ £ £ 1,917,961 44,448 (97,196) 63,481 (6,396) 1,922,298 1,917,961 44,448 (97,196) 63,481 (6,396) 1,922,298 Total Unrestricted funds Designated funds Restricted funds Endowment funds Total 2022 2021 2021 2021 2021 2021 £ £ £ £ £ £ 42,288 - 22,130 - 5 22,135 1,380,500 - 1,380,500 - - 1,380,500 463,977 329,611 154,487 15,136 - 499,234 812,692 375,720 360,844 81,504 - 818,068 2,699,457 705,331 1,917,961 96,640 5 2,719,937 |
|---|---|---|
| 1,922,298 | ||
| Total 2021 £ 22,135 1,380,500 499,234 818,068 |
||
| 2,719,937 |
18 Analysis of net assets between funds
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OXFORD AND SWINDON AREA QUAKER MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
19 Related party transactions
There were no disclosable related party transactions during the year (2021 - none).
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