SUSSEX EAST AREA QUAKER MEETING- TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Charlty Registration Number: 1173819 SUSSEX EAST AREA QUAKER MEETING (SEAM) TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023
SUSSEX EAST AREA QUAKER MEETING- TRUSTEES. REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 CHARITY NUMBER 1173819 Principal address Friends Meeting House, Friars Walk. Lewe5. Ea51 Sussex BN7 2LE Trustees John Ashcroft Anlhony Biggin Patricia Cockrell Alex Francis Aileen Grist Sorlia Relf Palricia Sear Wendy Tay5or Ireleased 31.3.20241 lappointed 11.5.20241 lappointed 01.1.20241 (appointèd 01.1.20241 (Clerk IrorTJ 01.4.2034 Officèrs during 2023 Area Meeting Clerk.. Membership Clerk_. Clerk of Trustges. Treasurer.. Assistant Treasurers". Sally Aviss Peter Bolwell Patricia Cockrell John Ashcroft Philip Cooper, Aex FranGis and Tiln Reynolds Properties, Nominee Friènds Trusts Ltd, 173-177 Euston Road, London. NW1 2BJ. IRegistered Charily No. 2376981 AudFtor Knill James LLP One Bell Lane, Lewes, BN7 1JU Bankers CAF Bank Ltd, 25 Kings Hill Avenue. Kings Hill, Wesl Malling. Keni ME19 4JQ Cooperative 8ank, PO Box 101, 1 Balloon Street. Manchester, M60 4EP. Nalwest Bank, 49 High Strèet, U¢kfield, East Sussex TN22 1AN Sanlander UK PLC. 124-126 Terminus Road. Eastbourne, East Sussex BN21 3AJ Triodcjs 8ank NV, Brunel House, 11 T*e PrometTrade. Bristol. BS8 3NN. CONTENTS Page 31011 Report ol the Trustees Independent Examiner's Report Statement of Financial Activities ISOFA} Balance Sheet at 31 December 2023 12 15 16 Notes to the Financial Statements 17to35
SVSSEX EAST AREA QUAKER MEETING - TRUSTEES. REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 REPORT-SUMMARY The trustees prgsgnl their report with the financlal statements of the charity for the year 0nded 31 Decemb 2023. They have prepar8d this port and financial statements on an accnjals basis in accordance with the Charities SORP and FRS102 using the lemplale CC17 publishod by th8 Charities Commission and with thè gtjidancg on reporting issued by Quaker L(fe in Britain Yearly Meeting. This is a change from 2022 and eadier years for whi¢h accounts wefe prepared on a receipts and payments basis an option nol available for 2023 because tha charity'5 gross income excgaded £250,000. Sussex East Area Quaker Meeting {SEAMI has since 2019 beefi a Charitable Incorporated Organisalion ICIOI which replaced the previous unincorporated charity Sussex Easl Area Quaker Meeting (Charty Number: 11591811. Neither the govemance nor the objects or activities of the charity changed. The annual reports and accounts lor 2018 and earll8r are avallabl8 upon wque81 from the trustees. In summary during 2023 all constituent parts of SEAM were broadly able to undertake Ihfj full range of witness and worship aclivlties in Ilnè th the charitable objects as discemed as being appropriate by Meetings for Worship for Church Affairs of the Area and the nine Local Meetings. This was despite Ihe dFsruplion caused by major red8vèlopment of the Friends Meeting House at Lewes, which started In October 2022 was completed in èarly 2024, and rain-water floods at Haslings Friends Meeting House. The lormer, as expected, absorbed the spare reserves of SEAM as well as extensive donations and grants made for this purpose, although with some substsnlial cost and lime over-runs. It is expected that financial irnpact will be mitigated by increased income from Tenting the flat on the premises and increased hiring lo local ¢ommunily groups. The costs incurred rem8dialing the Hastings floods was largely financed by our insur&rs although with the consequence that, at least until further miligalion measures are completed, the insurers will no longer provide flood insurance. OBJECTIVES AND ACTIVITIES South East Area Quaker Meeting ISEAMI 15 a charity established for the advancement of religlon and other charitable purposes such as derive from or bear witness lo the principles and practices of the Religious Society of Friends, commonly called Quakers. The principal aclivity is the arrangement and holding of M8elings for Worship in the conslituenl mootings of Bexhill. Easlboume, Hastings, Herstmonceux, Lewes, Polegate. Rye. Seaford and Uckfield. To enable such woiship, SEAM arranges for the maintenance and good order of the fabric of the five Meeting Houses lor which il is responsible. as we51 as ancillary services such healing, lighting and cleaning, including the employment of deaners. These Meeting Houses are al Bexhill, Easlboume, Haslings, Herstmonceux and Lewes. 11 hires premises to enable worship al Rye, Seaford and Uckfield. and has free use of a room at the 8ernhard Baron Care Home IPolegate}. In nomal times, m05t Meetings can prowde for children and young people alongside appointed Meetings for Worship, and indeed Lewes Meeting holds regular Sunday M8etings for its children and young people. SEAM provides financial support lo Friends in tha arèa lo onabl8 them to attend Maelings and to p8rticipale In educational and other events organised by and for Quakers. It also provides financial support lo Friends lo undertake other activities and lo other organisations in accordance with the convictions of the Society. Financial contributions are made to Britain Yèarly Meeting of the Religious S¢xiety of Ffiends. other Quaker bodies and other charitles with purposes consonant wlh those of SEAM. Public Benefit Our Meetings for Worship, physical or online, are open lo the publi¢ and we do not restrict access lo our faith or
SUSSEX EAST AR&A QUAKER MEETING-TRUSTEES. REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DEceMBER 2023 communities. We make invitations to the public to participate ill our sileF)I worship tradition. When opportunit¥es arise. we reach out into our local communrties to inform members of the public about the nature ol Quakerism and the opportunities that it prDvides. The Meeting Houses are usually made available lor public hire at reasonable rates so that they may be used ID benefit lo¢al community grDUPS including those ol other faith5. The Meeting House garden al Lewes is freely accessed by the ¢oFnmunily. ACHIEVEMENT AND PERFORMANCE Advancement of religion During 2023, SEAM met lor Meeting for Worship for Business Dn six o¢¢asions, three of which were held online, with three meetings in person al Bexhill, Eastbourne and Rye, to which a range of 1-1- 29 Quakers oame. In March. following a Meeting for Worshtp for Church Affairs, a Study Session was held on the paragiaphs concerning Nominations and Marriage, requested for Area Meetings lo discuss by the Book ol Discipline Revision Committee. In May. following Meeting lor Worship lor Church Affairs, there was a lively Study Session on Quaker Membership and in September, attendees explored the topics ol fruth. Integrity and Discefnment. After a process of consull3lion, al the online January 2023 Meeting lor Worship lor Church Affairs, il was agreed that SEAM should repla the term 'c>verseer' with that of 'pastoral friend,. Four very well-attpnded meetings of SEAM Elders and Pasloral Friends were held by Zoom during 2023 as well as three SEAM Team (for all AM role holdeis and LM clerks) meetings. RegulaF reports Were pSented al Area Meeting in strssion from the latter, and report5 were given also by our Meeting lor Sufferings Represenlalive and Alternate. Three Triennial reports from Local Meetings were provided and read out during Meeting for Worship for ChLJrch Affairs. while four edib'ons of the quarterly SEAM newslelterlmagazine Quiet Ways were p¥odu¢ed with articles and photographs from willing contributor5 on a wide vanely of topics. In September. SEAM Trustees, TARA for 2022 was piesented and accepted by Area Meeting in Session al Rye. Al November's online Meeting lor Worship for Church Affairs, proposals the 2024 SEAM progiamme were considered and accepted. Over the year, six deaths were recorded. There were fouT Ifansfers out and one transfer in. Six Friends were admittèd into membership,. Ilhere were no resignalionsl.up to December 2023, all the roles setving SEAM were filled. with represonlalion from across most Local Meetings AM Trustees were quorate and AM Nominations well represented. All necessary roles were also filled in Local Meotings, even the smaller ones where, inevitably. there were some doubling up by supportive Friends. Local Meeting worship and witness During 2023, was well and thriving al the smaller Local Meetings, with Bexhill. Rye, Uckfield, Sealord, Polègale and Htrrslmonceux reporting that their meetings Continued regularly and Suc5sfUlly. The three larger LMS, Eastbourne Iwho welcomed a new clerk and treasurer in January). Lewes and Hastings also continued to thrive with very good allendance al Meetings for Worship, despite building works, builders, dust and unexpeeted structural proL>lems ILewesl and flooding and coping with the move lo temporary premises (Haslingsl. In October, Haslings Friends returned lo Ihe1r newly refurbished Meeting House only to be flooded out again later in the mc>nlh. Neyv attenders and enquirers have been welcomèd In most meetings. large 8nd small, and there were six applications foi Membership. Meetings held a variety of regular 'bring and share, GoNee mo¥nings. ILJnches. walks and study or'meeling for learning, sessi()ns. Two Local Meetings (Hastings and Herstmonceuxl operated successful 'Warm Room, schemes during the ¢oldest months. DLJring the year, Rye Meeting sponsored live Sustainability Forums at Tilling Gr&en Community Centre and pla¢ed adverts in Rye News as part ol their outreach progran7me. wh11e Easlbourne Meeting ollerecl free lunches and drop-ln sessions which were open lo all-comers. not just Quakers.
SUSSEX EAST AREA QUAKER MEETING - TRUSTEES. REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 In January, Hastings Meeting completed their Spiritual Review and in the sam8 month. a PastInian RellectSon group came to talk to Seaford Meeting. In April, Seaford Frionds placed an article in Seaford Scene, a local free magazine, as part of their ongoing oulr&a¢h prtsgramme, and Bexhill Meeting held a successful ndleT'S Workshop enliled That of God within us. In June, Eastbourne Friends went on a visrt Èo Ashbijmham Place while in October. Hastings Friends celebrated the 35(%year anniversary of the first Quaker Meeting in Haslings, on whi¢h subject Iwo members have written a book entitled Haslings, First Quakar.. Dan1 Akehurst, 16T3, and ColonialAmeric&. That same month, 12 members of Lewes Meeting attended a vigil for th8 children who have been killed in the IsraelilGaza conflict and a letter was written lo the local MP, In November. an Uckfield Quaker gav8 a talk to the meeting on The Quaker Renaissance in Britain- fmm Evangelical to Liberal 1890- 1930. Financial support to Friends and good causes Financial support tolalllng aroun($ £1173 12022.. £13161 has been provided ID SEAM Friends lo attond courses, events for spiritual development, attend Meetsng for Worship or meet the expens&s of office holders. Where Fdends have been appointed land supported) to attend events of wider interest, they have report back at a suilablg opportunty. Financial support to ind*vidual Friends ol £1,386 was provided (£0 20221. We weTr once again abl& to support the attendance of 3 young person al Quaker summer events for young people12023: £800, 2022 £7761. Donations of £3,600 {£3,ODO in 20221 were mad8 to Britain Yearty Meeting, and other, mostly small, donations of £1.33912022". £1.3141 were made lo other Quaker and non-Quaker causes of viial interest for the advancemenl of Quaker testimonies. Meellng Housos and other properties The programme of quinquennial SLJrvèys of the Meeting Housey and other properbes was continued. Trustees have wort(ed with Lo¢al Meeting Friends and premises cornmillees to undertake works necessary for tho maintenance of the fabric of the properties identified by the surveys and other means. There is continuing wo sorting out the roots at Easlbourne Friends Meeting House. Extensive remedial works weie required to remedy damage from storm-drain flooding at Haslings Meeting House in February and October 2023. The remedial work was funded by our insurers although Ihgse works enabled some other maintenance works lo be undertaken al SEAM expense. Various items i¢Jentified by the 2022 survey of Herslmonceux Friends Meeting House and cottages were also addressed and a quinquennial review report for Bexhill Meeting House was commissioned and rgceived. By far the la¥gest 8cllvity has been the project lo improve thè accessibility, sustsinability and usability of Lewes Friends Meellng House. including the remediation of significant structural and damp issuos in Ihis listed buildlng. Design work was ongoing for several years with planning perniission was received in 2019, further changes lo the design resulted In ils being re-submilled in 2021 and 2022. Work on site started in Autumn 2022 and was completed, subjecl lo minor Snagging, in February 2024. The core ol the development has provided a new enclosed passage-way running most of the length of the rear of the building so as to provide covered level access lo all parts of the ground floor from an attractive new entrance lobby. This has involved re-slling of toilets and demolition of a small 1970's extension no longer fil for purpose. The rooms were re-ordered so as lo double {to four) the number of rooms available for use by Quakers and the local community as well as modemising the associated kitchen facilities. Some re-modelling and sound-proofing of Ihe first floor flat was also und8rtak8n as well as providing it wth ils own external entrance. As part of Quakers, witness lo improving environmentsl sustainability, the works involvg(f many actions lo improve the bulldin9's envlronmenlal fool.print, including careful sourcing of materials. the instsllation of an air-sourc8d heat-pump and insulation measur85. The project has been funded from SEAM reserves. a couple of legaci8s and grants and donations recoived from across the country land beyond) following an extensive fund-raising campaign lal minimal ¢osl}. Unfortunalety costs w8re higher than anticipalgd due lo additional unforese8n essential works bèing needed, notably lo underpin a wall that tilted despite the assurance of the Pfojecl slruclural enginaer. duly replaced. that it was $e¢ure. Other anlicipaled expenses were incurred and there was ¢osl infl8tK)n. Overall, the project Ibefofe VATI
SUSSEX EAST AREA QUAKER MEETING- TRUSTEES. REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 exceeded ihe original sum of £577.000 contracted in October 2022 by around £100.000. The woblems encountered alsts delayed the completion of the works from September 2023 to February 2024. This had cost implications as a nearby building was hired lo enable the full range of Meetings for Worship to be maintained despite the availability of the building being limited to the Meeting Room on Sundays only as well as delaying the ability to generate income from the building. Further appeals for donations augmented by £65,000 of inlere51.free loans l¥om some local Quakers have covered virtually all the additional building costs and professional lees, although SEAM in session agreed thal further financial support from reseNes be available rf needed. This is Pfimarily covering the cashllow implications of awaiting reclaim ol the VAT paid frorn the Government's Listed Places of Worship grant scheme which has already covered the VAT of over £100.000 added lo conlra¢t sums. and may be needed lo cover somè ol the final retention payment of some £20.000 due in February 2025. To enable the repayment of loans and amounts advance fTOffl general reserves to be repaid the flat at the Meeting House that has customarily been let lo resident Friends is being commercially let and some ol the increased room-hire income arisin9 from the enhancement of facilities available for eofflmunity use Is being earmarked for thi5 purpose - am arrangement that rray be need8d until 2028.. Sustalnability During 2023. the Sustainable Living Forum Isponsored by Rye Local Meelingl held 5 meetings al Tilling Green Community Contre in Rye. explonng issues ol climate change. protesls, the vil21 nattjre ol sustainabilily as well s other environmental concerns. One of SEAM'S Suslainabi111y Group (who also Drganises the SLFS) won the Clirnate Champions, Power List award for 2023 for a SLJStainable building project. Local Meetings with Meeling Houses continue to lind ways of reducing their carbon footprint by using Fair Trade for refreshments and Ihe use ol ecological cleaning products. Some Lms are ulilising guidance Iiom the Quaker Ecochurch and applying this lo their meeting5. Individually. Friends continue to adjust their own lrf&slyles to live in a more sustainable manner. Ernployees Trustees continue lo oversee the conditions lor all SEAM employee5 to ensure legal and moral compliance. At the end of 2023 SEAM had one employee each at Easlbourne, Haslings. HerstrnonUx and Lewes, with a fifth employee. a cleaner at Lewes. being engaged from February 2024. To ease the burden on local meetings, trustees continue lo engage Hastings Voluntary Action lo assist with payroll operations including reporting to HMRC. The employees. terms and conditions are kept under regular review to ensure that SEAM remains an ethical employer. Volunteers The SLJccesshil operation ol SEAM depends on Friends giving freely ol their time. 11 would be an impractical burden ID formally record the lime as this would require the volunteers giving even more time. However, the number of hours given in the course of a year is considerable. SEAM and ils constituent Local Meetings are run with the support of numerous unpaid officers including clerks, Ireasurers, as5islanl treasurers, colléctors. elders, overseers. trustees, delegates, commiltee members, newsletter and website editors, hospital and prison visitors and chaplains. ¢alerer5 elc. In addition. Quakers provide SLJPPQrt through their participation in Meetings for Worship lor Church Affairs. FINANCIAL REVIEW Flnancial out-turn and going concern The Area Meeting Treasurer has managed the accounts prudently and kept the truslees updated with the slate of SEAM'S finances. The financial stalomenls for 2023 have. as required by law, been prepared on an accruals basis rather than receipls and paymttnls as in previous years. and hence comparative figurès quoted below have
SUSSEX EAST AREA QUAKER MEETING- TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 been re-stated for the new accounting basis. In 2023 over £206,000 was raised lo help finance the Lewes development projed, nearty half being VAT claimed from the Listed Places of Worship grant scheme bul including around £63.000 of other grants and some £42,000 of donations from Quakers induding gift-aid claimed Ihereon. Tumlng lo ¥ouUne incom8 lines, the main sources of income for activlties other than the Lewes development project were donations from Frierids, {including gift-aid claimed}, income trom Ihe hiring of fooms lo Communlty groups and r&ntal income from residential properties, supplemented by some income from investments and bank interest. SEAM also recelved £17.160 from ils InSur$ lo cover 50rne of the damage incurred from the flooding al Haslings Friends Meeting Hous&. 11 is tjnderslood that the insurers expended a much higher amount in direct settlement with the contractors they engaged for repair work. Excludlng the laroun(51 £210.000 {£133,500 in 20221 income funding for the Lewes Development project (induding VAT reclaim grants). SEAQM'S income was, al around £105,000 a little below the £109,500 received in 2022. Income (of £13,081) from hiring of rooms in Meeting Holtses was nearfy halved due lo the complete ¥Jnavailability of Lewes Friends Meeting House, and for much of the year the one at Haslings lots. General donations including gift-aid were fractionally higher18bout £501 but unlike 2022 Iheie were no legacies1£5,500 in 20221. The rental properties at Herstmonceux and E8Stboume ntinUed lo dellver gwd ielums, wlth income increasing from ngarly £30,000 to £39,187, despite issues with the flat at Easlbourne Iwish Collage) reducing the amount charged for several months. Higher interest rates meant that income from cash and financial instrumenl investment increased from around £3,300 to stsme £7,000. Half of the investments were sold early in 2023 bul the remaining holding appreciated in value such that investments made realised and unrealised gains of £12,753 during 2023, a bounce-back from the decline In value of £57,269 in 2022. The expenditure side ol the equation was dominated by some £620,000 spenl on the development project at Lgwes {compared w¢th some £130,000 in 20221. Non-project ielaled expenditure was also increased from around £87,000 lo around £176,000, primarily due lo a large increase in repairs and maintenance al Easlboume, Hasb'ngs and Lewes in particular, although £17,160 of the Hastings spend was defrayed by an insurance pay- out. Nelting this off would give a figures of such spend from own resources of some £66,000. Other notabl¢ increases in expenditure related lo insurance premiums, the costs of electricty and gas, the engagement of a childrens, worker at Lewes and the need to cover for sickness elsewhere, the hire of premises for incraasad Quaker Meetlngs for Worship, course attendance and communications. In particular, the Insuran premiums incre8sed by a further 120/ts beyond the Major increase in 2022 consequent upon a 68.10 increase in the insurer's valuation of SEAM'S Properties. Taking all these changes together there was a 9nfflcant excass of 8XP8nditure ovar incom8, of soma £484,000. Of this, the expenditure relating lo the Lewes Meeting House project exceeded income by nearfy £421,000, leaving a deficit of some £63,000 relabng lo other items of income and expenditure. As already indicated some constituent of this deficit ware on-offs. so that the 2024 deficit should be substantially less. Increases in the valuation of financial markets dtjring 2023 delivered a revaluabon surplus of nearfy £13,000. Tho h¢adling results for the year 2023 land 2022} can be presented as follows 2022 £20,499 1£10.2311 2023 1£484,OS61 £12,753 Surpluslldeficil) of incomo over expenditure Gainslllossesl on Investment revaluations and sales Total increase I Idecreasel in funds Total funds al 31 December (excl property values) Insured value of properties Eslimaled market value of properties 1£30,6801 £917,233 £7,489,291 £3.225,000 1£471,3031 £445,930 £8,412.027 £3,225,000
SUSSEX EAST AREA QUAKER MEETING- TRUSTEES. REPORT AND ACCOUNT5 FOR THE YEAR ENDED 31 DECEMBER 2023 Looking forward, expenditure will likely exceed income in 2024 and 2025 because of the mainIng costs of the Lewès pioject (less reclaimable VAT and some earmarked donations) of some £80.000 wh*¢h has been largely funded by inlerest-tree loans from individual Quakers at Lewes. These, and the remainder ol the shorttall, are to be repaid from income received frDm renting out the flat in the building and the increose in hiring Income arising from the much enhanceLY facilrties, and are being designated for this purposa. Expenditure on aIntainIng other Meet1ng Houses is expected lo be substantial during 2024 so that Ihere W11 be further erosion of the reserves, but still leaving enough to cover Ihe minimum reserve in the reserves FX)li¢y Isee below). Income and expenditure is expected lo be become closer to balancing in 2025, but the likely deficit may still result in fund values dropping below the target msnimuffl in the policy unless there Is an increase in financial resources coming In. Nonetheless the financial assets ol SEAM should be not lar short of £300,000. Taking Ihis into a¢¢ount along wilh other prospects, the trustees consider that SEAM remains a going concern. SEAM assels Al 31.12.23 the a55els of SEAM consliluled.. Four Friends Meeting Houses held lo enable Quaker worship and other aclivilies of Friends and the loGal community. two of which, at Hastings and Lewes, are permanent endowtnenls (Note 181 A Friends Meeting House and three residential properties In Herstmonceux (the Herslmon¢eux Estalel, which constitute a permanent endowment (Note 181 Income generated by the Herslmonceux Eslale, less expenses, which is held as a reserve lo cover future costs ol mainlaining this Endowment. At 31 December 2023 the cash balance of this fund was £74.38612022.. £64,862) there being no dèbtors or creditors. Two Restricled Funds as follows.. A fund represenling a bequest from Maurice Burge for thÈ bènefit of child¥en and young people al Lewes Meeting. Al 31 December 2023 the cash balanto ol this fund was £2,72712022." £5,629>. A restricted fund representing donations and grants for the Lewes Meeting House Project. Al 31. December 2023 the balance of this fund. taking account of debtors and creditors had reduced lo zero 12022 - £69,031) Current assets {financial investments and cashl held as unrestricted reserve5 to support the lulure delivery tsl the purposes ol SEAQM. At 31 sl December 2022 these assets were." Investments.. £100.73712022'. £184,248) Cash at bank.. £386,74212022". £783. 1281 Debtors.. £35.95912022.' £31,531) Less creditors '. £20.50812022. £81,674) ReseNes Policy SEAM Trustees agreed a revised policy at their meeting on 19 June 2024. This moved from the previous practice ol single target figures in Ihe previous policy. Sel out in the Trustees Annual Report and Accounts for 2022, to ranges covering the Herstmonceux Estate and the unrestricted funds. The policy can now be sumfnarised as follows.. For the Herslmonceux Eslale. aiming for a bank balance lying between E51.000 and £74.000, representing 2-4Yo of the insured value ol the properties concerned to cover potential lulure maintenance needs, plus a relatively srnall allowance to cover uneven non-property maintenance related cashflow. For the other, predominantly unre51ricled, funds, aiming for aggregate currenl assets and investments lying between £238,000 and £416.000. iepresenting 24Yo of the insured value of the properties concerned lo Cover potential lutijre maintenance needs. plus other allowances lo cover identified risks such as loss in the value ol iTrveslmenls, loss ol income and uneven non-piopeTly Imainlenance relaled ¢ashflow. Within these
SUSSEX EAST AREA QUAKER MEETING - TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 figures a specific reseNe is also maintained to help support pastool and educational needs of local Friends. The balances al the end of 2023 fall well within those ranges- the posilion in future years has already been considered L¢nder golng concem,. Invostments sin 2019 the financlal inveslrnenl portfolio has been ordered so as lo ¢omply with tho revised statement of investment policy approved by SEAM which seeks to avoid investment in companies involved in fossil fuel extraction or distribution, alongside other longer estsblished ethical criteria and the need for a prudent income flow 10 5UPPOrt the objects of the charity. The performance of the investments Is covered in the financial review above. Investment income is also obtsined from letting four residential properties which continue to generate a reasonably heatthy income Isubjecl to continuing maintenance needs and gaps bghvgen tgnanciesl as well as contributing lo the avaikbility of relatively affordable housing in the local community. Plans for future perlods It is int8nded that SEAM and its constituent Local Meetings will continue to provido OPPOrtunilies lo pacipate in worship in ac¢ordance wth the Quaker tradition and undertake activities lo develop and promote the witness of its members and attendefs. Hence considerable emphasis is placed on enabling them and their children to participate in appropriate educational and training events and conferences across the country and beyond, even if this results in increased exp¢nditure. This rekY)rt has already referred to th$ exciting new development for enhancing the sustainability, communty value and accessibility of Lewes Friends Meeting House, in a way that is consislenl with its grade 2 listed slalus, and which will incorporate some of the work rècéntly identified as belng necessary to address structural issues. This project has in earty 2024 como lo fruitions and the improved prernises are already conlribuling lo the life of local Friends and the wider community, as well as subslanlially increasing income. The building costs remaining al the stsrt of 2024 and the final 2.5°A Tetenlion payment due in eady 2025 conslilutes a conlingenl liability on SEAM. Work continues on the TrOOfing of Easlboume Mgeling House. This was mosljy completed during 2022 and 2023 and is being finalised during 2024. It is hoped in particular that this will address dampness problems with the flat. Further work is plann8d lo remedy issuos identified with Hastings Friends Meeting House following tho o major incidents of rain-water iun-off flooding during 2023, only some of which is being funded by SEAM'S insurers. Significant rem$dial work is qUIred at the rental properties in the Herstmonceux Estate, with tenants having lo be temporarily re-housed when il takes place. A quinquennial survey of Bexhill Friends Mfygting House in eady 2024 will necossilale consideralitin ol remedial works. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document From the stsrt of 2019 SEAM became a Charitable IncoTporaled Organisalion {number 11738191, with a goveming document dated 15 January 2017. Previously. SEAM was consliluled by a governing documènt adopted on 12 January 2008 and amended on 10 July 2010 registered as an unincorporalgd charity by the Charity Commission (number 11591811 on 12 November 2014. The constitution had been ftjrther amanded and Clarified by a Charity Commission scheme dated 13 October 2016. The main effect of the switch lo CIO slalus was to limit the liabilty of the Iruslees and enable the charity to hold assets in its own namo. SEAM is administered and managed in accordance with the govefnlng documont. Tho members of SEAM ara all those persons whose names are. for the lime being, recorded in the official register maintained in accordance with Quaker Faith and Practice. In addition to the members. 3tt8nders participate in Maelings for Worship and other activities.
SUSSEX EAST AREA QUAKER MEETING- TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Decision making ullirnately liès with SEAM in properly constituted Meetings lor Worship for Business which are currently held al least six timés a year in accordance with the Quaker business method. All members of SEAIA may attend and parti¢ipate in these meetings - attenders may be permitted to obseNe. SEAM appoints Iruslees who, under charity law, have the primary duty ol ensuring that finances and assets are properly used and safeguarded and that risks arè managed. Other conimillees c>1 SEAM, to which some authority Is delegated, comprise commillees lor elder5hip and pastoral care Ilooking after the spiritual and pastoral needs of mernbers and attenders at OUT Meeting51 and Nominations Committee Irepresèntalives of constituenl Meetings who discèrn and suggest Friends loi appointment witliin Area Meèlingl. Truslees are appointeol by SEAM following nofftinalion by the Nominations Committee. Newly appointed Iruslees are inducted by reference lo the triislees. terms of reference. provision ol pa51 minutes, and support by experienced Iruslees. Training opporlunilies, reference rnalerials and on-line resour¢es ale made available nationally by the Religious Society of Friends. Truslees mel eight limes dunng 2023. The constituent Local Meetings of Bexhill, Easlbourne, Haslings, Herslmonceux, Lewes. Polegate. Rye, Sealord Uckfield have a certain amount of autonomy including the day lo day care of meeting houses and management ol their financial affairs. Their activities are supported and Supervised by the trustees, other officers of the area meeting. and by the area meeting itself. Memofanda of understanding, last revised in 2019, specify how Local Meelings and their role-holders exercise Iheir delegated aulhority. SEAM sends a representalive lo Meetings for Sufferings. the standing governing body of Britain Yeady Meeting betrween (the annuall Britain Yearly Meeling18YMI. B YM in session is open to all Friends In the country and has ultimate authority for church affairs for Quakers in Britain. therefore Ils decisions have signilican¢e lor SEAM. It provides support and resources to SEAM lo assist with its adminislralion and management. The affairs of SEAM are governed by ils publication Quaker Faith and Practi. Friends Trusls Lirniled contsnues lo act as nominee lor the properties belonging lo SEAM. The SEAM treasuring team helps Local Meetings lo comply with their obligations. not le8$1 by rtjnning a central aceounling system IPaxtonl which cenlralises the book-keeping and in lum reduces burdens on Local Meetings and laGiSilales preparation of SEAM slatulory accounts within stalulory lirlle-sfjales. The Team also seeks to ensure that there are secure and effective financHI procedures throughout SEAM. Risk Management The tnjstees have reviewed the risks relevant to SEAM on a regular basis. They have established a strategic risk registei to facilitate the managetnenl ol the risks. which is regularly reviewed by Ihe Trustees. Insurance has been maintained to mitigate the possible consequen¢es ol risks and the cover provided has been kept under review to ensure its adequacy. The nine most serious risks detFtified and overseen by tnJ9tees are currently seen as being.. Health and safety and covid-19.. Safely. including fire safety. checks are routinely undertaken at all our Meeting Houses. Special measures were taken lo miligale Govid. Safeguarding: All meetings are expected lo observe the SEAM Safeguarding Policy (which is kept under continual review) and to provide an annual report lo trustees providing inforrvalion about the preson¢¢ or absence ol children and vulnerable adults at meetings, and reporting on conformity lo the policy and procedures. Employment.. This is centrally managed to avoid legal or reputational risk5 materialising. Preventing property damage or deleriorallon.. In addition to insuring the buildings, these risks are managed through quinquennial surveys and other vigilance including annua1 reports from each Meeting with its own premises Sut>stantial reserves are provided against the potentially high costs ol renovating our bijildings some of which are historic Meeting premises unsuitable for enabling or promoting Quaker worship.. Accessibility issues have been
SUSSEX EAST AREA QUAKER MEETING- TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 addressed, in the case ol Lewes Ihftiugh improvement project. Suitability and visibility of Meeting venues are kept under review. Control of thè expenditures, notabty the Lowes dgv8lopm•nt prolè¢t-. Pro¢edur&s ar& in pla¢e lo ensure that payments are made only when justified and authorised, al fair value, and these have been adapted lo provide addrtional control over the propriety and cashflow of the development project. Investments: There is always a risk that market movements cause substantial loss of value that Cannot be recovered before investments need to be sold to support the Work of the charrty, which we mitigate, by wide diversification of asset allocation, cashflow planning and reserving against SignifinI loss. Lo$$ of major incomè source: SEAM finances depend largely on donations, room-hire and property rental income. the last two of which are particularty vulnerable lo extemal intsrrupllon as thts pandèmic has shown. requiring the retention of a 5pecrfic reserve. Fllling koy posltlons: This is a perennial challenge, given a membership that has been slowly declining. SEAM nominations committee mitigate this risk throug17 planning well in advance of need. Trustees are involved in longer term thinknng as lo how the demands of running a charity can be met more efficiently. Inadequatè re$pon$* to the ¢limats emergency.. See section above on sustsinability- STATEMENT OF TRUSTEES, RESPONSIBILITIES The Charities Act requires the trustees to prgparo, for each financial year, accounts which give a tDJe and fail view of the slate of affairs of the charity at the end of the year and of the surplus or deficiency for thè ypar then ended. In preparing those a¢¢ounts the trustees are required lo select suitable accounting policies and then apply them consistently, make judgements and estimates that are reasonable and prudent, and prepare the accounts on the going concern basi5 unless it is inappropriate lo presume that the charity will continue in business. The Iruslees are rèsponsible for keeping proper accounting records which dtsclose, with ieasonable accuracy at any time, the financial position of the charity. They are also responslble for safeguarding the assets of the charity and hence for taking roasonablo slaps for the prevention and detection of fraud and other irregularities. Approved by order ol the board of trustees on 0310912024 and sigrsed on its behalf by.. Patrlcla Sear (Clerk of Trnstees) John Ashcroft (Area Meetlng freasurer)
SUSSEX EAST AREA QUAKER MEETING- TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 OECEMBER 2023 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SUSSEX EAST AREA QUAKER MEETING Oplnion We have audited the financial statements ()1 Sijssex East Aa Quaker Meeting Ithe 'charity I lor the year ended 31 December 2023 which cotnprise the statetllent of financial actlV11ies, the balance stteel and notes to the financial sialetnents. including significant accounting policies. The financial reporting framework that has been applied in their pieparalion is applicable law and Uniled Kingdorn Accounting Standards. including Financial Reportin9 Standard 102 The Financial Reporting Standèrd applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting PractlC81. In our opinion, the financial sialemenlg.. give a true and lair view ol the slate of Ihe charily s affairs as at 31 December 2023 and of ils incoming resources and application of resources. for the year then ended. have been properfy prepared in accordance with United Kingdom Generally Acoepted Accounting Practi,. and have been prepared in accordance with the requirernents ol the Charities Act 2011. Basis for oplnion We conducled our audit in accordance with Inlemational Standards on Auditing IUKI IISAS IUKII and applicable law. Our respon5ibilib.ès under those standards are ftjrther described in the Auditors responsibililies for the audil ol the financial statements section of our report. We are independenl of the ¢harity in accordance with the ethical requirements that are relevant lo our audit of the ffinanCaI statements in the UK. including the FRC'S Ethical Standard. and we have lullilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained Is sufficient and appropriate to provide a basis for our opinion. Conclusion5 relating to going Concern In auditing Ihe financial statements. we have concluded Ihal the tru51ee5' use ol the going concem basis ol accounting ill the preparation of the financial stateTnents Is appropriate. 8a5ed on the work we have performed, we have not identified any material uncertainties relating to events or ondits-ons that. individually or ctsllectively. may cast significant doubl on the charity's ability lo ntInue as a going concern for a period ol at least Iwelve months from when the financial statements are authorised for issue. Our responsibi5ilie5 and the responsi.11t1es ol the trustees with respect lo going concern are described in the relevant seclions ol this report. Other ir)formatio The other information comprises the infomation induded in the annual report other than the financial statements and our audilorfs report ihereon. The trustees are responsible foi thg other infortnalson conlained within the annual report. Our opinion on the financial slalemenls does not Cover the other information and we do not express any form of assurance conclusion Ihereon. Our responsibility is lo a the other Information and, in doing so. Gonsidei whether th& other inlormalion is maleri3lly inconsislenl with the financial statements or our knowledge obtained in the COLJrse ol the audil, 01 Otherwise appear5 to be materially tnissialed. 11 we identify such materi?1 inconsistencies or apparent m&terial misstatements, w8 are required lo det9rmine whether Ihis give5 rise to a mater&al misstatement in th8 financial statements themselves. 11. based on the work we have perlorrned. we conclude that there is a material misslatpmenl ol this other information. we are reqUId to reptrrt that lacl. We have nothing to report in this regard.
Matters on which we aro roqulr•d to r•port by 8xcoptlon In the light ol the kn{)edge and undersianding of the ¢harity and ils environment obtained in the course of the asjdit, we have nol idènts'fied mglerial mi$5talements in the diroctors. rèport incjuded within th? trustees, raport. We hav• nothiftg to report in respect of ihe fdlowng mattgrs in ralation lo whith the Charities IAccounts and Report51 Regulations 2008 r6quiro us to rtrport lo you if, in our opinion.. the information given in tha fifian¢i315talementS is inconsistent In any matarSal respa¢t with the trustees, report,. or suffiuent 8ccounting records have not been kepl-, or the financial ststemenls are not in agreement with the accounting records., or we have not recelved all the inf(xmation and explanations we require for our audit. Responsibllitles ot trustees As explained more fully in the statemtsnt of trustee5' respOnsi.11t1e$, the trustees are responsible for th& preparation of the financial statements and for being satisfied that they give a true and fair view, and for such inlemal ctsntrol as the trustees determine is necessary lo enable th6 preparation of finan¢ial statements that are frtre from material misstatement, whether due to fraud or èrror. In preparing the financial statements, the trustees a responsible for assessing the charity's ability lo continue as a going concern, disclosing, as applicable, matters related to gtsing concem and using the going concern basis of accountino un16SS the trustaas either intend to eeaso operatlons, or have no realistic alternative but to do so. Auditorfs responsibilities for the audtt of the financial statements We have been appointed as auditor under section 144 01 the Charities Act 2011 and report in accordanco ¥wth the Act and relevant regulations m8d8 tsr having effect thereunder. Our objectives are to obtain roasonablo assurancè about whèthèr thè financial statements as a whole are free from material misstatement, whether due to fraud or 8rror, and to issue an audilorfs report that indudes our opinion. Reasonable assuran¢e is a high 19vel ol 8ssur8nce but is not a guarantee that an audil conducted In accordanca with ISAS IUKI will always detect a material misstatement whon it exists. Mtsstaternents can arfse from fraud or error and are considered material il, individuaSly or in the aggrègate, they Could rea8¢ablY be 9xpecled lo influence the 8cDnomlc decisions ol users taken on tho basis of these finan¢i81 slatemenls. The extent to whlch our Pfoc8dures 8Te capable ol detecting irregularities, induding fraud, is detailtd below. Wè conside those18ws and regulations that have a direct impacl on the flnancial statements. We ev8lu8led the opportunitie5 for Iraudulent manipulation of the financial statemgnts lin¢luding tho rfsk of overrid6 of the controls in place), and carried out the following procedures. Enquiry of management those charged with governance around actual and potentlal lsltgation and claims., Enquiry of staff in complianea functions to idèntify any instsn¢8s of non- compliance with laws and regulations Rèviewing inuteS of meetings Performing audit procedures on the risk of management overrld8 ol contrds, including 18$ting of journal entries and other adjustments lor appropriateness Bec8ysè of the inherent limitations of an audit, there is a risk that will not detect all irrggijlarities, induding those leading to a material misstatement in the financial statements or non-eomplianee with regul8tion. This risk increases the more ihat compliance a law or règulation 5$ rgmoved from the events and Iransactions flected in the financial stalèmgnts, 85 W8 will be less likely to become aware ol instances of non- complianc&. The risk is also greater regarding irregularits'es occurring due to fraud rather than error, as fraud involves intentional concealment. forgery, collusion, omission or misrepreseniation. A further dèscriptlon of our responsibilities 1$ available on the Financial Reportsng Council's wobsite al.. https..Ilwww.frc.o .uklauditorsres onsibilitiès. This description fomis part of our auditovs report. Oth*r mattgrs Your attontion Is drawn to the fact th81 the Charity has prepared financial sta(emenis in accordance wth
SUSSEX EAST AREA QUAKER MEETING- TRUSTEES. REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 'Accounting and Reportirig by Chanties.. Slalemenl of Recommended Practice applicable lo charities prepanng their accounts in accordance with the Financial Reporting Standard applicable ill the UK and Republic of Ireland IFRS 1021" las amendedl in preference lo th8 Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred lo in the exlanl regulations but has now been withdrawn. This has been done in order for the financial statements to provide a true arbd fair view in awrdance with current GenerallyAccepled Accounling PracliGè. Use of our report This report is made solely to Ihe charity's trustees, as a body, irn accordance with part 4 01 the Charities IAcEounls and Reporisl Regulations 2008. Our audit work has be8n undertak8n so thal we might stale lo the charity's Iruslees Ih05e matters we are required to stale lo them in an auditor's report and for no other purpose. To Ihe lullesl exlenl permitled by law. we do not accepi or assume respollsibility lo anyone other than the charity afjd the charity's truslees as a body, fo¥ our audit work, lor this repoit. of fof the opinions w8 have formed. David Martln FCA Isenior Statutory Auditor) For and on behalf of Knill James LLP Chartered Accountants Stalutory Auditor One Bell LaFTe Lewes Easi Sussex BN7 1JU Knill James LLP is eligible for appointment as auditor of the charity by virtue of it5 eligibility for appoinlTheNt as auditor of a ¢owpany under section 1212 01 the Compan1es Act 2006 Page 14
SUSSEX EAST AREA QUAKER MEETING- TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 CHARln (OMMISSM) FOR ENGiAND AND WAiES 117J819 ANwal accounts for To Section A Statement of financial activities r•souM 3) 31,624 15,715 237,399 14,195 17.lJ29 17.1&) 79,518 413 46,197 17,ie 314,951 14792 179 2C6,678 28,755 R•SwO •xrAnd•d 11 l) 3286 1•758 17,543 9,7&9 159,325 7.69S 140,303 641,2& 9.753 IS 6&713 8.537 3, ffLI)2S3 15 623,276 16,4( 799.LK17 i5•$) 416, 11349 - 484.055 12.753 2Q49 11753 416, 11349 - 471.303 343,208 1.458 410.262 71,932 10,891 471,303 4.142.233 3,85Q 1670 4 142233 1,422.449 2,728 1245.753 Page 15
SUSSEX EAST AREA QUAKER MEETING- TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Section B Balance sheet fvnds l•Jnds funds Total 21123 Tt)ts13)22 Fixed assots FOI F02 F03 F04 F05 10) 950.tKJO 1.6r)J.O(Ki 2,550,000 2,550,0 Tol•l 950.wo 2,275.oiJO 3,225.000 3,225,000 Current Assets stocks (Nots 121 {Noie 11 Cash at b•nk arnl in h•nd 2,353 100,737 33,61 35,959 31.531 184.248 783.128 998,907 38.446 72.052 75.753 75.753 386.742 523.438 375,633 Credllors: hling due With INth 13) 8.1eA 12.324 20,508 81,674 t cunwt ••sd4(liabililiMJ 7.449 59. 53 917,233 Tol•l assels lus liabiliti•8 1.317.449 59,728 2,350.7 ,727,930 4.142.233 Creditws: aTrxnts falling due alter INote 131 Prnvisions for li4)ilibes 57.(1(M) 57,000 Tot•1 •88d8 orh1lI11p Funds of tho Charity Endont fvnd5 (Note 18) Restiicled uK4Jme lunds INoie 18} 1.317.449 2.728 2,350,753 3.670.930 4,142,233 2.350,753 2,350 753 2,728 1.317,449 3,670,930 2,339,2 74.0 1,r27.711 4,142,233 2.128 1,317.449 1.317,449 Total funds 2,728 2,350,753 SJiJ by I*TJ twustees( teha¥of all the Oate otapwDval 113A)9r2024 n Adwift PA ge&Rr Sear Page 16
SUSSEX EAST AREA QUAKER MEEfiNG - TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Section C Notes to the accounts Note 1 Basls of preparatlon A¢¢ounting policies Charity inlorniation." SEAM is a Charitable Incorporated Organisation. 1. l Ac¢ountlng Conventlon These accounts have been ptyp8red under the historical cost convention with items regnIsed al cost or transaction value unless otheiSe staled in the relevant note{sl to these accounts. They have been prepared in accordan wlh the charity's Constitution. the Charities Act 2011, FRS 102 Yhe Financial Reporting Standard applicable in the UK and Rgpublic of Iroland'l'FRS 102,1 and the Charities SORP 'Accounting and Reporting by Charities.. Statement of Recommended Pract4ce applicable to charitses preparing their accounts in a¢cordance with the Financial Reporting Standard appli¢able in the UK and Republic of Ireland IFRS 102). (effective 1 January 20191. They have been modified lo include the revaluation of freehold properties and to include inveslmenl properties and certain finanual inslrumanls al fair value. The principal accounb'ng pdicies adopted are set OLkt below. The charfty is a Publlc Benefit Entity as defined by FRS 102. The charity has tsken advantage of the Pfovisions in the SORP foi charities not lo pr8paie a Ststemenl of Cash Flows. The financial ststemenls have departed frorn the Charities (Accounts and Report51 Regulations 21KJ8 only lo the exlenl required to provide a true and fair v¢ew. This departure has involved following the Slalement of Recomrnended Practice lor charities applying FRS 102 rather than the version of the Statement of Recomrnended Practice which is rgf$rr&d lo in the Regulations bul which has since been withdrawn. Additionally, the valuation of freehold properties is based on Truste@s' judgmant as well as indepefjdenlly providèd figures. The financial statemenfs are prepared in sterling. which Ss the funcllonal currency of the charity. Monetary amounts in Ih8Sg financial statements are rounded lo the nearest pound. 1.2 Golng concern There are no material uncertainties related lo events or conditions that cast signrficanl doubt on the charity's ability lo continue as a going conrn (further detsils given in the Report). 1.3 Change of a¢¢ountlng policy Whereas the accounts for 2022 were prepared on a receipts and payments basis, these accounts have bo&n prepared in accordance with FRS102 (see above) because the income of the charity durin9 2023 trxceeded the1£250,0001 regulatory threshold above which FRS102 musl be applied. Note 2 shows the effect of the adjustment for each affected line in the SOFA and balance sheet for Ihe 2023 and prior year {20221 accounts 13.44 FRS 102 SORPI. 1.4 Changes to accountlng estimates Some aOnting esllmalas have be8n used lo obtain a faif value valuation of some of the freehold prortY assels, for the first lime. No other accounting eslimales are used. 1.2 Charltable funds Unreslri¢led funds are available for use at the disugtion of Ihe trustees in furtheranc& of thèir charitable objectives. Restricted funds arg subject to specifi¢ conditions by donors as lo how they may be used. The purposes and uses of the reslri¢ted funds are sel out in the notes lo the financial slalements. Endowment fijnds constrain the ¢harity'$ 8bility lo dispose of the freehdd pioperties concem8d Ibaing at Haslings, Herslmonceux and L8wesl. They do not restrict the use of income derived from these propartlgs, except that the use of income aTising as regards Herstmonceux is feslricted lo the upkeep and running ol the Eslale Page 17
SUSSEX EAST AREA QUAKER MEETING- TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 including the Quaker Meeling although any surplus accumulaled beyond Ih81 needed for this purpose can be used lor SEAM, objectives more generally. 11 is not clear whether this restriction is legally binding, and il is cofflplied with to be on the sale side. 1.3 Income Income is recognised when the charity is legally enlilled lo it. after any performance conditions have been met, the amounts can be measured reliably, and il is probable Ihat incorlle will be received. Cash donations are recognised upon receipt. Other donations a recognised once the charity has been notilied of the donalion, unless perform8nce conditions require deferral ol the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds ol Govenant is recognised at Ihe time ol the donation. Legacies are recognised on receipt or otherJvise if the charity has bèen notified of an impending distribution. the amount is known, and receipt is expected. If the amount Is not known, the legacy is treated as a contsngenl asset. 1.4 Expenditure Expenditure is recognised once Iherg is a legal or constructive obligation to Iransler economic benefit lo a third party. Il is probable that a transfer ol ecc>nomic benefits will be requ1red in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by type. 1.5 Tangible fixed assets There are no heritage or Intangible assets. Non-pioperty tangible fixed assets would be Initially measured at cost and subsequently measured al cost or valuation. net ol depreciation any impairment losses. N o fixed assets other than Ire8hold properties have been identified as being material in the context of these accounts. bearing in mind that the ¢harity has until 2023 been accounting on a receipts and payments basis and there were no signif1cant purchases ol assets during 2023. Deprociation would be re¢ognised so as lo write off the cost or valuation of assets less their regidual values over their usèful lives on an appropriate straight-line basis. The gain or loss arising on the disposal of an asset would be determined os lhe difference between the sale proGeeds and Ihe cairying value ol the asset. and is recognised in the statement ol financial activities. 1.6 Impairment of fixed assets Al each reporting end date, the charity would reviews the carrying amoun15 of its tangible assets to determine whether there is any indicab.on that those assets have suffered an impairmenl1oss. If any such indi¢ation exists, the recoverable amount of the assel would be estimatèd in order to determine the exlenl of the impairment loss lif any). Thefe are no applicable fixed assets. 1.7 Stocks SEAM holds no stocks 1.8 Ca$h and eash equivalents Cash and cash equivalents Include cash In hand and deposlts held at call with banks at no rnore than 30 days notice. There are and have been no bank overdrafts. 1.9 Financial instruments The charity has elected to apply the provisions of S&¢tion 11 'Basic Financial Instfurnents, and Section 12 'Olher Financial Instruments Issues, of FRS 102 to all ol its financial Instruments. Financial instruments are recognised in the charily's balance sheet when the charity becomes party to the contractual provisions ol the instrument. Financial assets and liabilities are offset. with the nel amounts presented in Ihe financial stalements, when there is a legally enforceable right to sel off Ihe recognised amounts and there is an intention to settle on a net basis or to realise the asset and sellle the liability simultaneously. Basic financial assets Basi¢ financial assets, which include deblors and tash and bank balances, are initially measured at transaction price Including transaction costs and are subsequently ¢arried at amortisèd cost using the effective interest method unless the arrangerllenl constitutes a financing transact10n, where the transaction is measured at the present value of the fijtijre receipts dis¢ounted at a market rate ol interest. Except that financial assets classified as receivable wilhin one year are not amortised, wh4ch applies lo all such held by SEAM. Basic financial liabilities Page 18
SUSSEX EAST AREA QUAKER MEETING- TRUSTEES. REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Basic financial liabilities. including creditors and bank loans are initially recognised al transath'on pri¢8 unless the arrangement conslilules a financing Iransaclion, whore the debt Instrument is measured al the prgsenl value of the future payments discounted al a market iale of interest. Financial liabilities classified as payable within one year ar9 not amortised. DeL)l instruments are subsequpnlly carried al amoth'sed cost, using the effectsve inleresl rale method. Trade and other CTeditOTS are obligations lo pay for goods or services that have been acquir8d in the ordinary course of operations from suppliers. Amounts payable are classified as ¢urrent liabilities if payment is due within one year or less which has aayS been the case. De-Tecognitson of financial liabilities Financsal liabilitses are de-recognised when the charity's contractual obligalions expire or are discharged or cancelled. 1.10 Employee benefits The cost of any holiday enlillement is not recognised until claimgd, on grounds of malerlality. Temiination benefits would be recognised immediately as an expense when the charity is demonstrably commilled to lerminale the employment of an employee or lo provide lerminalion benefits. Page19
SUSSEX EAST AREA QUAKER MEETING-TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Sects'on C Notes to the accounts Icontl Accounting policies 11 RECONCIUATION MTH PREVIOUS GENERALLY ACCEPIED ACCOUNTr4G PRACTICE Fnjm ReceiFIs and Pymtsto FRS 11 591,753 783.127 3. 187 31.532 -2.405 -81.674 1,578 184,248 2.W2.SJ) 3.225.QY) balaftce a5 reslated RetoNilaliofft of net incomellnet e4JEnditurel perPwlll5 GAAP iD FRS102 net incofflel(netexpuMliiurtl PIÈ¥1 (Rceyts & prymen151 basis 20,? 429,442 Ineoffle IrDm: 4.413 8.015 8.015 Loans 615 74242 74242 12.753 47,(154 41(598 12.753 11349 471J03 RWte(Iln SOFA W23 FRS102 14245 45.139 191.374 -919 e615 22,470 -12cl Z2,47D -la).1 Sak of m¥esln*rts -2.073 67,XK) 180.CC(1 255,IJx) 237.412 In.582 .123.3 Page 20
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SUSSEX EAST AREA QUAKER MEETING- TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEM8ER 2023 Stetlon C Notes io the accotsnts l¢ontl Govwom•ntw•rt 1 Oth•r l&ed Fl•ces Gr4Dt Stherne IVAT red•iffll 100.6 To 100.626 095crlpO0 Lisled pfaees Grnnt S¢herne (VAT rethiml Gwwnm•ntwant 1 Oth•r 22.470 Tot 22.470 2021 Ahy conth"ons and other N¢Yde 202J 1021 Othèr fonTrs Dfgovernmtsryi •Sl•nce Inpm the thaiity L•Bt year U•• of propgrty hor 3123 PlgasÉ¥ provtdo doiails o( Iho a¢¢ounting policy lor the recognition and valuation of donatgd good9, facilttie9 s9rvic. ifderJHrEd ¢j in excvss rf£l(*) WA ThechWltyi%lw¥ety¢ byuroail ¥duntews Page 22
SUSSEX EAST AREA QUAKER MEETING- TRUSTEES. REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Section C Notes to the accounts P(rf(OJ rnan Cthtcl lla1ll 120 Reolc¢kn. rY5d Ma14[1¢e ¢Wes Is,& 3286 4.409 7.695 &919 15.308 Quau7thAiES Outrexh fmmsl 1,1n 1516 1.1rJ 16 1.316 1J16 7,425 1314 ChJm &Yn9 p 8.1$5 1.4n 647 7515 1577 uwbds MdeAs&equwwl Rwa"r& &Mtena 15M5 1q315 1,109 40to 11.110 17,•3 1424 117 Hal hte 1.142 1,112 128.758 8,537 140 303 ,551 973 4.179 6S.713 17,513 17.543 011 641.2 135)YJ 135.309 67),3 135. 9.n8 15 9,7$3 9.738 1&9.325 15 9753 7VJ.IX)7 4.0 IDTPL EXPENLIIUI SI3276 114¢ 14,1a r•) Page 23
SUSSEX EAST AREA QUAKER MEETING- TRUSTEES, REPORT ANO ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Section C Notes to the accounts Delai15 of certaln of exp•ndilur• 7.1 Feos fvrexaminalion ol Ihe accou5 fees {4udii 20231 Tax adwsory fees to IndephdentexarniTre Noie a P•id wlYeeS a.1 Staff Costs 2023 7.515 Social security costs PensK>n costs (derwd contrthition schtmel Olher employte bErts Tolal skff £ts 7 $15 5.929 No expendiJre slaff workkffj kn the ch¥1tyvK cofttraels arè lth and ait pald by a rty Ilh45 year of last) per# of more Ihan £60,oori TRUE 2023 Tolal aThxtnt pakl to manage¢nent personnel lincludp5 Inotees and senior managementl lx thelr seThkes to SEAhi 8.2 ATage Iad couAI in thÈ year The parts of th dmiity kn TAthkh th• 2023 Number Charilabie klwftivs Total 8.3 No ex*rati4 payments to empknyees and others (exckmling Intsleesk this or lastyear J.4 No redundancy or terminalion payments made in Ihe period. Page 24
SUSSEX EAST AREA QUAKER MEETING- TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Seciion C Notes to tho aecoLtnt% cont T11 r• 4.939 2.888 7,825 hYpsJPK¥•.quaker.org.ulJ Tnbst. hWlPww.qUfiIM Rthlng ptrmty kn Wanda 4.380 Y•tyllqqtkng (R>) ton Quakerbth1A 1.071 To( 4.314 2.712 Y.078 Tat41 Y•lyU8thg IRk¥J5&¢1 rfFiierts). htWsJrn•.quaker.rA9.ukJ 3,881 3.195 Page 25
SUSSEX EAST AREA QUAKER MEETING- TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEf418ER 2023 Section C Note% to the accounts conll I1¢ 10 1•.1 C••tor 3.225.( Trth. eTra rrfthÈyear 3 225 000 3,225 000 SL u RBlStraW IReI£ RB CIRB &cKR SLLYPB 10J Iltt bDokwh i#) al Ile 3)23 ix al theeJ¥J crf2(r23 3.225 000 3.225 000 3,22$.()0 3.225.(QO 19.4 MIA 1•.$ Eoion Page 26
SUSSEX EAST AREA QUAKER MEETING- TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 310ECEM8ER 2023 Hix4¢P H¢¥mP PE PE 515 51 714 674 152 H¥meP 816. 444.• HPp Page 27
SUSSEX EAST AREA QUAKER MEETING- TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Secllon C Not¢s to Ihe accovnts cont Notr11 t1.1 In¥eslmEnt n¥ets (Flxed aftd¢wTtnt) Td41 7&3.128 184.24 675.IJJD t.6Q.376 •14). gginllks511 12.753 12.753 c"r¥ Ilo+f) ¥&lJt of>E 386.742 100 737 675 CX)O 1.1.479 fiirYah AI Ux•o 41i¥J•i IM• imywm•nt. .742 1L¥J.73T S75. T(4 1,162.479 Gr•¥1 IF•Or¥ath•tywr•rl•Cortl•# F4Er¥41Mt 7&J.128 18424B 675.(iKI T(rt 1.642 376 1,642.315 Page 28
SUSSEX EAST AREA QUAKER MEETING- TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Sectors C Note$ to the accounts Iconti 2022 2023 fy¥e8us•J d•t•rHthilr4 1tt• tythk prKeJof 2023 2023 GU•1¥toff on b•hdfol• Ild pwty MIA MIA WA WA 14A Page 29
SUSSEX EAST AREA QUAKER MEETING- TRUSTEES. REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Section C Noles to the accounts Icont) Note 12 Please Corn this ffole hftht ehity IMS any 111 ADaty5i5 of delJlorn 2023 35.959 35,959 31.531 31,531 To•al Noie 13 13.1 Anatysis ol cre(lilors knouftts falllny due withift one year Amounts fallin4 due alter more than one year 13 A¢cnJals for grants payable Bank loans and overdRfts Payments reCeId ofi account for cMtra¢ts or performance-rplated graAts Accruals and deltrFEd in¢•me Taxation and social securfty 81,5B6 57.11)0 Total 14.1 SI11¢anCe ol fntl iTrstrumoDts {ry debtOf5. CEEditOE5. Inertts eic) to IJ chanty's financial B)wlJon ow ted to the wLyect kl have had a h1 thry nknlised dfftrenty froxn exFwled . r¥A hwn. ted to Ihe KI ukl have hal a h1 It lh5 hapw. up invo1 thts has Èeen upinvak awJ this ha5 slKKk}. A5 haKofVn ¥ve OJrTrJ 23, the prtenb4 ggrfunt sMKkl. As hOftsy* Page 30
SUSSEX EAST AREA QUAKER MEETING - TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Section C Notes to the accounls Iconll SEAIA had no e•thg•ot •131.1223 or 31.1222 fin•ncknl •ff•¢t l on 10 May2024 NIA 110ts 18 2023 'b¢ . L¥wd risk is ft). ma inv*. 162 Detslsofthe ktr WA Not• 17 Page 31
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SUSSEX EAST AREA QUAKER MEETING- TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Section C Notès to thé actounts Iconti Nots 18.3 Chaiity fvnds {cont) 18.3 Tr•nsfers betwi lunds 2023 gal fr>r ts eonkniDn Beteen unreslitttsxt and rtslricled tun 391 chikknn and young Feopk mado ty L8wes kleolin¥s (kunat fund eadr years. Translef frIHn Ihe n$tted LeAE5 oevek)wt FVIKI to Ihe restrted fvnd lo fmance deveh)pwil exndTe a1 prevenl gatNe balance cfi Ihe fund. Betsen unresliicled and sl11c fund5 345,056 ètmknlnt and Iricled tund5 Betsen ètxl(Ynl and unresbicied fUts Sj5 in the fund transfeFTed from the Herslnmjnceux Eslate io Ihè fu1 (ksIated fund of Fkrslmonceux Meeli)g lo fiJThJ grants for rekr m?de in 2022 2023 1.458 2022 le9al lor ils eonvÈrsiDn BehÈn uore51ficled and slricled fvnd5 eknhpen unresliicled re4nded fvnds Money th)nateiJ for us• by Ihe LeEs [veklnt PfDPC( receid lo thè SEAM ger1 fund (UNstr(edI and Iran51enpd acros5. 405 TeslFi¢itd fUts SuryJs in fvnd trSferrEd lo the LvthEs tknt Project {unFestrKled} ty MUle ofArea Meeb"ThJ unFests*ied fu 18A Designated 2023 See M)te 18.1 2022 See 18.1 Page 34
SUSSEX EAST AREA QUAKER MEETING-TRUSTEES. REPORT AND ACCOUNTS FOR THEYEAR ENDED 31 DECEMBER 2023 Section C Notes to Ihe accounts Icontl 1101• 19 192 Tn•tHS' •XPWm5 19.3 TAnwawsl *lth pul Note 20 1 }The CIO Tr)1 gIn ary fala1 rantee5 to ather cYgar¥salion Page 35