Charity no. 1175435
Bristol Area Meeting of the Religious Society of Friends (Quakers) Report and Audited Financial Statements 31 December 2022
Bristol Area Meeting of the Religious Society of Friends (Quakers)
Reference and administrative details
For the year ended 31 December 2022
| Charity number Registered address Website Trustees Nominee for Land Bankers Investment managers |
1175435 Quaker Meeting House 300 Gloucester Road Bristol BS7 8PD https://www.bristolquakers.org.uk/ Susana Askew Ray Bray Sam Briggs Fran De'Ath Kit Fotheringham Resigned 12 May 2022 Jonathan Jewkes Appointed 1 January 2022 Sanni Kruger Geralyn Meehan Resigned 31 May 2022 Marcus Millington Catharina Pedder Appointed 1 January 2022 Barney Smith Dean Smart Appointed 1 January 2023 Gillian Whitehead Chair Paul Whitehouse AM Treasurer Christine Joan Willmore Appointed 1 February 2023 Friends Trust Limited 173-177 Euston Road London NW1 2BJ Triodos Bank The Co-operative Bank Plc Deanery Road P.O. Box 101 Bristol 1 Balloon Street BS1 5AS Manchester M60 4EP CAF Bank Ltd Epworth 25 Kings Hill Avenue 9 Bonhill Street West Malling London ME19 4JQ EC2A 4PE Rathbone Investment Management Ltd 10 Queen Square Bristol BS1 4NT The trustees are who served during the year and up to the date of this report were as follows: |
|---|---|
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Bristol Area Meeting of the Religious Society of Friends (Quakers)
Reference and administrative details
For the year ended 31 December 2022
Auditors
Godfrey Wilson Limited Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD
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Bristol Area Meeting of the Religious Society of Friends (Quakers)
Report of the trustees
For the year ended 31 December 2022
Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Constitution and the Statement of Recommended Practice - Accounting and Reporting by Charities (effective from January 2019).
1. LEGAL AND ADMINISTRATIVE DETAILS
1.1 Status and objectives
Bristol Area Quaker Meeting is one of around 70 Meetings which make up The Religious Society of Friends (Quakers) in Britain, also known as Britain Yearly Meeting (BYM). It was registered (number 1175435) as a Charitable Incorporated Organisation (CIO) on 30 October 2017.
1.2 Object
The object of Bristol Area Quaker Meeting is the furtherance of the general religious and charitable purposes of the Religious Society of Friends (Quakers) in Britain in the area of Bristol Area Meeting and beyond.
The CIO's income and property are used solely to further the area meeting's object by work such as:
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Strengthening the life and witness of Quaker meetings both in the area of Bristol Area Meeting and beyond;
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Spreading the message of Quakers and interpreting and developing the thought and practice of the Religious Society;
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Undertaking Quaker service for the relief of suffering at home and abroad;
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Funding the concerns that Quaker meetings in the area of Bristol Area Meeting or beyond have adopted or agreed to support;
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Providing for the pastoral care of individual members and attenders including assistance to those in need and for education;
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Maintaining and developing Quaker meeting houses as places for public worship and from which to carry our witness into the world; and
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Administering and maintaining the organisation of Bristol Area Meeting and contributing to the support of Britain Yearly Meeting.
1.3 Trustees
Up to 15 trustees are appointed by Bristol Area Meeting (AM) in Session, on the advice of the AM Nominations Committee. They hold office for a term of three years and may be re-appointed for a second term. Area Meeting in Session also appoints the Clerk to the trustees and the Treasurer, who is ex-officio a trustee.
1.4 Activities
The principal activity of the Area Quaker Meeting is the holding of public Meetings for Worship in the constituent Local Meetings: Bedminster, Central Bristol, Frenchay, Horfield, Portishead, Redland and Thornbury. Philanthropic activity is mainly through the Weekly Committee which provides financial support to needy Quakers and in some cases those outside the Society. Some Local Meetings conduct collections to make donations to a range of causes. All members of the Area Meeting are entitled to take part in Meetings for Church Affairs which inter alia appoint the trustees.
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Bristol Area Meeting of the Religious Society of Friends (Quakers)
Report of the trustees
For the year ended 31 December 2022
1.5 Membership
| Local Meeting | Members 2021 |
Members 2022 |
Attenders 2022 |
|---|---|---|---|
| Bedminster | 30 | 29 | 37(14)* |
| Central | 21 | 21 | 19(4) |
| Frenchay | 33 | 30 | 20(7) |
| Horfield | 25 | 25 | 33(4) |
| Portishead | 14 | 13 | 8(1) |
| Redland | 112 | 105 | 103(35) |
| Thornbury | 22 | 21 | 8 |
| TOTAL AM | 257 | 244 | 202 (61) |
*Numbers in brackets are children, included in total attenders
2. TRUSTEES' REPORT
2.1 Introduction
- 2.1.1 This is the Annual Report for Bristol Area Quaker Meeting (number 1175435) for the period from 1 January to 31 December 2022.
2.1.2 Local meetings
The Area Meeting comprises seven Local Meetings of which six occupy their own Meeting Houses. Thornbury Meeting meets in rented premises.
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Bedminster Quaker Meeting House, Wedmore Vale, Bedminster, BS3 5HX ;
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Central Quaker Meeting House, Champion Square, BS2 9DB;
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Frenchay Quaker Meeting House (and attached Warden’s Cottage), Beckspool Road,
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▪ Frenchay, BS16 1NT ;
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Horfield Quaker Meeting House, 300 Gloucester Road, Horfield, BS7 8PD;
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Portishead Quaker Meeting House, 11 St Mary’s Road, Portishead, BS20 6QP;
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Redland Friends Meeting House, 126 Hampton Road, Redland, BS6 6JE ; and
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Thornbury Quaker Meeting, The Chantry, Castle Street, Thornbury, BS35 1HB.
2.1.3 Burial grounds
Two Meeting Houses, Frenchay and Portishead, have burial grounds attached. In addition, the Area Meeting owns two freestanding burial grounds:
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Kings Weston Burial Ground, Kings Weston Lane, Bristol, BS11 0QT ; and
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▪ Hazel Burial Ground, Hazel Lane, Old Down, Bristol, BS35 3QP.
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Bristol Area Meeting of the Religious Society of Friends (Quakers)
Report of the trustees
For the year ended 31 December 2022
2.1.4 Governance
Meetings for church affairs, in which the Religious Society conducts its business, are meetings for worship based on silence, carrying the expectation that God’s guidance can be discerned if members are truly listening together and to each other. The unity that is sought depends on the willingness of all to seek the truth in each other’s utterances. There is no voting in the meetings, because the Society believes that this would emphasise the divisions between differing views and inhibit the process of seeking to know the right way forward, the will of God as expressed in the sense of the meeting.
The clerk of the meeting bears the final responsibility for preparing the business, conducting the meeting and drafting the minutes of the meeting. Minutes are drafted and read out by the clerk during the course of the meeting, but the final decision about whether a minute represents the sense of the meeting is the responsibility of the meeting itself, not of the clerk.
The Area Meeting in session, open to all members of the Area Meeting, is held about 10 times each year. The day to day administration of the Area Meeting’s affairs are conducted by a body of trustees, consisting of up to 15 Friends appointed by the Area Meeting.
2.2 General matters
2.2.1 Statement of public benefit
The trustees have had regard to the Charity Commission's guidance on public benefit. The principal public benefit is that at least weekly each of our six Meeting Houses (and our meeting at Thornbury) are open to the public for divine Worship. Our Meetings and their members and attenders are supported by the Area Meeting as they engage in a number of community activities.
Our Meeting Houses are also made available to suitable local community and interest groups and charities at a reduced rate where the purpose of the user is in line with our purposes. In 2022 the value of this benefit to those organisations was £9,990.
2.2.2 Financial review and reserves policy
During the year the charity received income of £457,734 and incurred expenditure of £563,042, a deficit of £166,954 for the year, after the £61,646 loss on investments. This includes depreciation of £158,985. At 31 December 2022 the charity held permanent endowment funds of £30,950, restricted reserves of £262,854 and unrestricted reserves of £411,367. These figures do not include the charity’s property, shown in the accounts as £6,072,769.
The Trustees Reserves Policy is to hold three months general expenditure (£47,000) plus five years expenditure for property maintenance (£327,000), a total of £374,000. The charity holds in excess of its target reserves due to the profit on sale of a property during the previous year. The trustees intend to use the excess reserves to purchase a property in 2023.
Following the year end Trustees were informed that AEOBhousepeople Limited, a charitable housing association in which they had invested £20,000, was in severe financial difficulties. After careful discernment they donated £19,950 of their investment to the association.
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Bristol Area Meeting of the Religious Society of Friends (Quakers)
Report of the trustees
For the year ended 31 December 2022
2.2.3 Summary of main achievements
We have continued to adapt our Meetings for Worship throughout 2022 as we return to more face to face contact and social mixing after the Covid pandemic. We have welcomed the opportunity to meet together in person but have remained conscious that the risks which Covid presents have not gone away, particularly for more vulnerable individuals. We have used the learning and the investment in equipment in our Meeting Houses to enable a blended approach to Meetings for Worship and to reduce unnecessary travel where appropriate.
Meanwhile community groups have returned to our Meeting Houses in greater numbers, increasing both our income and our outreach to our local communities.
2.2.4 Sustainability
The Property Health and Safety Committee has continued the implementation of the agreed sustainability priority works identified in the BAQM Net Carbon Zero strategy, which has been prepared to help Area Meeting adopt the most effective energy efficiency measures in its Meeting Houses and meet its stated aim to make the Meeting Houses carbon net zero by 2030. After some consideration the decision was taken to replace the gas boiler in one of our Meeting Houses, which had broken down, with a system of infra-red electric heaters. This has proved very successful, and we are working towards replacing other gas appliances with more sustainable alternatives as they reach the end of their usefulness.
2.2.5 Risk assessment and management
We are very aware of the need to manage the risks we face. This is not just in finance, but includes property, employment, provision for children and young people, data protection and safeguarding. Our policies on these matters are reviewed regularly and our risk register is reviewed regularly. We remind Friends involved in organising activities and events of the importance of carrying out risk assessments in advance.
2.2.6 Serious incidents
There were no serious incidents.
2.3 Report of trustees' committees
2.3.1 Trustees
There are 12 trustees out of a permitted maximum of 15. Trustees are responsible for the practical aspects of our Meetings such as buildings, finances, and employees. The work is done through three major committees, the Property and Health and Safety Committee, Employment and Wellbeing Committee, and the Finance Committee. Each committee is made up of at least two trustees, together with several non-trustee members. Weekly Committee is a very ancient committee which disburses funds to those in need.
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Bristol Area Meeting of the Religious Society of Friends (Quakers)
Report of the trustees
For the year ended 31 December 2022
2.3.2 Employment and Wellbeing Committee
The appointment of a Premises Assistant in 2021 was reviewed by a working group appointed for the purpose and Trustees agreed to make this position permanent. When the Premises Assistant moved on to a new position towards the end of 2022, we were able to appoint a replacement who started in the post in December.
Some changes were made to the Staff Annual Leave Policy to recognise long service and the annual wage increase was brought forward to January 2022 because of the rapid rise in the cost of living.
The Area Meeting takes its responsibility for all safeguarding, especially children and adults at risk, very seriously. Another working group spent considerable time adapting the new Safeguarding Policy developed by Britain Yearly Meeting to meet our local needs. This was approved by Trustees in May and alongside procedures designed to meet our specific local needs will further strengthen our approach to safeguarding. We appointed a Trustee as Safeguarding Co-ordinator for the Area Meeting to support the Local Meeting Safeguarding Co-ordinators. Training and information sessions were planned to ensure a broad awareness of changes needed to our appointment procedures for a wide range of roles in our meetings.
2.3.3 Finance Committee
Several policies were reviewed. The reserves policy was updated to take account of increased running and maintenance costs and minor changes were made to the Reimbursement of Expenses Policy.
Plans to purchase a property using the remaining proceeds of the sale of the Warden’s House at Hampton Road have proceeded more slowly than we hoped. This property would be let through a charity (ACH) which supports refugees in Bristol. We have viewed several properties but as yet have not found one which is suitable within our budget. We hope to make further progress on this as soon as possible.
2.3.4 Property, Health and Safety (PH&S) Committee
The Property Health and Safety Committee has continued to report to Trustees on work completed in accordance with the Schedule of all Priority Works (that includes all Net Carbon Zero sustainability measures, urgent Health and Safety and works identified in Quinquennial surveys) at all six Meeting Houses. A contractor has been appointed to undertake Quinquennial surveys at Horfield and Bedminster Meeting Houses in early 2023.
The building work at Central Meeting House was completed. Maintenance works were undertaken at several local Meeting Houses including external refurbishment at Frenchay Meeting House.
The Meeting House Working Group prepared a report for Trustees on the use of our Meeting Houses, which provided useful insights into the use of our buildings for both Quaker purposes and other groups which generate significant hiring income to offset running costs. The Area Meeting will give further consideration to the use of our buildings as part of its discernment of the spiritual direction of our Meeting.
Each Local Meeting has a Health and Safety Coordinator who is responsible for undertaking annual surveys. A Health and Safety training course was held in May 2022 with 11 people attending.
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Bristol Area Meeting of the Religious Society of Friends (Quakers)
Report of the trustees
For the year ended 31 December 2022
2.3.5 Weekly Committee
Weekly Committee, which comprises two trustees and representatives from all Local Meetings, with the exception of Portishead, is responsible for providing financial support to individuals in times of difficulty through making grants and interest-free loans of varying amounts for different needs. Trustees approved a proposal to allow Weekly Committee to make grants of up to £500 for ongoing living costs in recognition of the difficulties many Friends will experience this winter as a result of increases in fuel bills and other day-to-day expenses.
Statement of responsibilities of the trustees
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and the incoming resources and application of resources, including the net income or expenditure, of the charity for the year. In preparing those 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 accounting estimates that are reasonable and prudent;
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state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; 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 proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the constitution. The trustees 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.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Auditors
Godfrey Wilson Limited were re-appointed as auditors to the charity during the year and have expressed their willingness to continue in that capacity.
Approved by the trustees on 22 May 2023 and signed on their behalf by
Gillian Whitehead
Gillian Whitehead Clerk to trustees
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Independent auditors' report
To the members of
Bristol Area Meeting of the Religious Society of Friends (Quakers)
Opinion
We have audited the financial statements of Bristol Area Meeting of the Religious Society of Friends (Quakers) (the 'charity') for the year ended 31 December 2022 which comprise the statement of financial activities, balance sheet, statement of cash flows and the related notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
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give a true and fair view of the state of the charity's affairs as at 31 December 2022 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled 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.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
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Independent auditors' report
To the members of
Bristol Area Meeting of the Religious Society of Friends (Quakers)
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report. We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:
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sufficient accounting records have not been kept;
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the financial statements are not in agreement with the accounting records and returns; or
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we have not obtained all the information and explanations necessary for the purposes of our audit.
Responsibilities of the trustees
As explained more fully in the trustees’ responsibilities statement set out in the trustees’ report, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Our responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The procedures we carried out and the extent to which they are capable of detecting irregularities, including fraud, are detailed below:
(1) We obtained an understanding of the legal and regulatory framework that the charity operates in, and assessed the risk of non-compliance with applicable laws and regulations. Throughout the audit, we remained alert to possible indications of non-compliance.
10
Independent auditors' report
To the members of
Bristol Area Meeting of the Religious Society of Friends (Quakers)
(2) We reviewed the charity’s policies and procedures in relation to:
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Identifying, evaluating and complying with laws and regulations, and whether they were aware of any instances of non-compliance;
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Detecting and responding to the risk of fraud, and whether they were aware of any actual, suspected or alleged fraud; and
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Designing and implementing internal controls to mitigate the risk of non-compliance with laws and regulations, including fraud.
(3) We inspected the minutes of trustee meetings.
(4) We enquired about any non-routine communication with regulators and reviewed any reports made to them.
(5) We reviewed the financial statement disclosures and assessed their compliance with applicable laws and regulations.
(6) We performed analytical procedures to identify any unusual or unexpected transactions or balances that may indicate a risk of material fraud or error.
(7) We assessed the risk of fraud through management override of controls and carried out procedures to address this risk. Our procedures included:
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▪Testing the appropriateness of journal entries;
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▪Assessing judgements and accounting estimates for potential bias;
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▪Reviewing related party transactions; and
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▪Testing transactions that are unusual or outside the normal course of business.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. Irregularities that arise due to fraud can be even harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the charityʼs trustees, as a body, in accordance with section 144 of the Charities Act 2011 and the regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charityʼs trustees those matters we are required to state to them in an auditorʼs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charityʼs trustees as a body, for our audit work, for this report, or for the opinions we have formed.
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Independent auditors' report
To the members of
Bristol Area Meeting of the Religious Society of Friends (Quakers)
Godfrey Wilson Limited
Date: 24 May 2023 GODFREY WILSON LIMITED Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD
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Bristol Area Meeting of the Religious Society of Friends (Quakers)
Statement of financial activities
For the year ended 31 December 2022
| Endowment Note £ Income from: Donations and legacies 3 - Charitable activities - Other trading activities 4 - Investments 5 - Profit on sale of fixed assets - Total income - Expenditure on: Raising funds 2,421 Charitable activities 52,840 Total expenditure 7 55,261 (55,261) Net gains on investments 13 (9,052) Net income / (expenditure) (64,313) Transfers between funds - Net movement in funds 9 (64,313) Reconciliation of funds: Total funds brought forward 2,494,703 Total funds carried forward 2,430,390 Net income / (expenditure) before gains / losses |
Restricted £ 208,441 - - 1,059 - 209,500 - 52,258 52,258 157,242 - 157,242 - 157,242 105,612 262,854 |
Unrestricted £ 75,022 6,672 161,133 5,407 - 248,234 149,592 305,931 455,523 (207,289) (52,594) (259,883) - (259,883) 4,344,579 4,084,696 |
2022 Total £ 283,463 6,672 161,133 6,466 - 457,734 152,013 411,029 563,042 (105,308) (61,646) (166,954) - (166,954) 6,944,894 6,777,940 |
2021 Total £ 132,198 - 81,419 7,552 367,195 |
|---|---|---|---|---|
| 588,364 | ||||
| 117,849 348,668 |
||||
| 466,517 | ||||
| 121,847 42,402 |
||||
| 164,249 - |
||||
| 164,249 6,780,645 |
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| 6,944,894 |
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 17 to the accounts.
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Bristol Area Meeting of the Religious Society of Friends (Quakers)
Balance sheet
As at 31 December 2022
| Note Fixed assets Tangible assets 12 Investments 13 Current assets Debtors 14 Cash at bank and in hand Liabilities Creditors: amounts falling due within 1 year 15 Net current assets Net assets 16 Funds 17 Endowment funds Restricted funds Unrestricted funds Designated funds General funds Total charity funds |
£ 134,540 320,955 455,495 (25,618) |
2022 £ 6,072,769 275,294 6,348,063 429,877 6,777,940 2,430,390 262,854 3,791,099 293,597 6,777,940 |
2021 £ 6,153,299 339,601 |
|---|---|---|---|
| 6,492,900 36,596 448,254 |
|||
| 484,850 (32,856) |
|||
| 451,994 | |||
| 6,944,894 | |||
| 2,494,703 105,612 3,849,095 495,484 |
|||
| 6,944,894 |
Approved by the trustees on 22 May 2023 and signed on their behalf by
Gillian Whitehead
Gillian Whitehead Paul Whitehouse Clerk AM Treasurer
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Bristol Area Meeting of the Religious Society of Friends (Quakers)
Statement of cash flows
For the year ended 31 December 2022
| Cash used in operating activities: Net movement in funds Adjustments for: Depreciation charges Losses /(gains) on investments Dividends, interest and rents from investments Profit on the sale of fixed assets Decrease / (increase) in debtors Increase / (decrease) in creditors Net cash used in operating activities Cash flows from investing activities: Dividends, interest and rents from investments Net proceeds from the sale of property, plant and equipment Purchase of tangible fixed assets Proceeds from the sale of investments Purchase of investments Investment portfolio cash movement Net cash provided by investing activities Cash flows from financing activities: Repayment of borrowing Net cash used in financing activities Increase / (decrease) in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Analysis of changes in net debt: £ Cash 448,254 448,254 Brought forward |
2022 £ (166,954) 158,985 61,646 (6,466) - (97,944) (7,238) (57,971) 6,466 - (78,455) 31,799 (23,100) (6,038) (69,328) - - (127,299) 448,254 320,955 £ (127,299) (127,299) Cash flows |
2021 £ 164,249 158,716 (42,402) (7,552) (367,195) (28,269) 3,542 |
|---|---|---|
| (118,911) | ||
| 7,552 685,476 (610,407) 419,459 (146,971) 5,978 |
||
| 361,087 | ||
| (63,000) | ||
| (63,000) | ||
| 179,176 269,078 |
||
| 448,254 | ||
| £ 320,955 Carried forward |
||
| 320,955 |
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Bristol Area Meeting of the Religious Society of Friends (Quakers)
Notes to the financial statements
For the year ended 31 December 2022
1. Accounting policies
a) Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Bristol Area Meeting of the Religious Society of Friends (Quakers) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
b) Going concern basis of accounting
The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves, the current balance sheet, and the budget and forecast cash flow for the next 12 months. There are no material uncertainties about the charity's ability to continue as a going concern.
c) Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.
d) Investment income
Interest on funds held on deposit, dividends and other investment income are included when receivable and the amount can be measured reliably by the charity. This is normally upon notification of the amounts paid or payable by the bank or investment managers.
Investment income generated from endowment funds is either restricted or unrestricted, depending on the terms of the endowment fund.
e) Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank.
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Bristol Area Meeting of the Religious Society of Friends (Quakers)
Notes to the financial statements
For the year ended 31 December 2022
1. Accounting policies (continued)
f) Funds accounting
Endowment funds are funds which are held on trust to be retained for the benefit of the charity as a capital fund. Where the Trustees must permanently maintain the whole of the fund it is referred to as permanent endowment and such a fund cannot normally be spent as if it were income. Where the trustees have a power of discretion to convert endowed capital into income, it is referred to as expendable endowment.
Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity. The aim and use of each restricted fund is set out in the notes to the financial statements.
Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.
g) Grants payable
Grants payable are charged in the year in which the offer is conveyed to the recipient except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attached have been fulfilled. Grants offered subject to conditions at the year end are noted as commitment but are not accrued as expenditure.
h) Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
Expenditure on raising funds includes all expenditure incurred by the charity to raise funds for its charitable purposes, and includes costs of all fundraising activities including direct staff time, investment management fees and any associated support costs.
Expenditure on charitable activities is inucrred on directly undertaking the activities which directly further the charity's objectives, including any associated support costs.
i) Allocation of support and governance costs
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated between the costs of raising funds and charitable activities on the following basis:
2022 2021 Raising funds 50% 50% Charitable activities 50% 50%
17
Bristol Area Meeting of the Religious Society of Friends (Quakers)
Notes to the financial statements
For the year ended 31 December 2022
1. Accounting policies (continued)
j) Tangible fixed assets
The freehold properties carried in the accounts consist of Meeting Houses and Burial Grounds and the title deeds are held in the name of Friends Trusts Limited. Historical costs were not known and the cost values were based on reinstatement values for insurance purposes, which were considered to represent deemed cost on transition to FRS102 at 1 January 2014.
Other tangible fixed assets are initially recognised at cost, which includes all costs incurred to bring the asset into its intended working condition. Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:
Freehold land No depreciation charged Freehold buildings 50 years straight line Leasehold property Straight line over the life of the lease Property improvements 20 years straight line Equipment 5 years straight line
Items of equipment are capitalised where the purchase price exceeds £1,000.
k) Listed investments
Investments in quoted shares, traded bonds and similar investments are measured initially at cost and subsequently at fair value (their market value). The statement of financial activities includes the net gains and losses arising on revaluations and disposals throughout the year.
l) Unlisted investments
Unlisted investments comprise investments in co-operative share capital, which are held at fair value. As co-operative shares do not appreciate in value, the fair value is deemed to be the same as historic cost less impairment.
m) Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
n) Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
o) Creditors
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
18
Bristol Area Meeting of the Religious Society of Friends (Quakers)
Notes to the financial statements
For the year ended 31 December 2022
1. Accounting policies (continued)
p) Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
q) Pension costs
The company operates a defined contribution pension scheme for its employees. There are no further liabilities other than that already recognised in the SOFA.
r) Accounting estimates and key judgements
In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.
Legacy valuations
Determining the value of legacy debtors requires an estimation of the future cash flows expected to be received from the legacy. Actual results may differ from these estimates because the value of legacy is usually dependant on the amount of cash realised from the estate in which the legacy relates, and the recognition of a debtor as per the SORP usually precedes the cash receipt. The charity uses the expertise of a professional to estimate future amounts based on supporting evidence.
Freehold land and buildings
As described in note 1(j) to the financial statements, the freehold properties were initially recognised at deemed cost, which was based on historic reinstatement values for insurance purposes. The split between land and buildings has been estimated on the basis of local government estimates for the value of land determined in 2014, and approximate hectarage of the land. The total deemed cost of the land at 31 December 2022 is estimated at £864,000.
Depreciation
As described in note 1(j) to the financial statements, depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life.
Transfers between funds
As described in note 17 to the accounts, a transfer out of restricted endowment funds into unrestricted funds was made in 2021, representing the reclassification of five properties (Bedminster, Central Bristol, Horfield and Redland Meeting Houses). The trustees deemed that these properties had been wrongly classified as endowed by the Charity Commission in the 2012 Scheme.
19
Bristol Area Meeting of the Religious Society of Friends (Quakers)
Notes to the financial statements
For the year ended 31 December 2022
2. Prior period comparatives: statement of financial activities
| Income from: Donations and legacies Other trading activities Investments Profit on sale of fixed assets Total income Expenditure on: Raising funds Charitable activities Total expenditure Net gains on investments Net expenditure Transfers between funds Net movement in funds Net expenditure before gains / (losses) |
£ - - - 367,195 367,195 370 108,692 109,062 258,133 4,528 262,661 (3,391,967) (3,129,306) Endowment |
Restricted £ £ 38,943 93,255 - 81,419 12 7,540 - - 38,955 182,214 - 117,479 48,748 191,228 48,748 308,707 (9,793) (126,493) - 37,874 (9,793) (88,619) - 3,391,967 (9,793) 3,303,348 Unrestricted |
2021 Total £ 132,198 81,419 7,552 367,195 |
|---|---|---|---|
| 588,364 | |||
| 117,849 348,668 |
|||
| 466,517 | |||
| 121,847 42,402 |
|||
| 164,249 - |
|||
| 164,249 |
3. Income from donations and legacies
| Donations Legacies |
Restricted £ £ 43,441 47,430 165,000 27,592 208,441 75,022 Unrestricted |
2022 Total £ 90,871 192,592 |
|---|---|---|
| 283,463 |
20
Bristol Area Meeting of the Religious Society of Friends (Quakers)
Notes to the financial statements
For the year ended 31 December 2022
3. Income from donations and legacies (continued) Prior period comparative:
| Prior period comparative: Donations Legacies CJRS grant |
Restricted £ £ 38,943 52,340 - 30,005 - 10,910 38,943 93,255 Unrestricted |
2021 Total £ 91,283 30,005 10,910 |
|---|---|---|
| 132,198 |
4. Income from other trading activities
| Lettings income Feed-in tariff |
2022 Total £ 152,583 8,550 161,133 |
2021 Total £ 74,245 7,174 |
|---|---|---|
| 81,419 |
All income from other trading in the current year and prior year was unrestricted.
5. Income from investments
| Dividends and interest from investments Bank interest Total income from investments Prior period comparative: Dividends and interest from investments Bank interest Total income from investments |
Restricted £ £ - 4,855 1,059 552 1,059 5,407 Restricted £ £ - 7,500 12 40 12 7,540 Unrestricted Unrestricted |
2022 Total £ 4,855 1,611 |
|---|---|---|
| 6,466 | ||
| 2021 Total £ 7,500 52 |
||
| 7,552 |
6. Government grants
In the prior year the charity received funding from Coronavirus Job Retention Scheme, the total value of such grants was £10,910. There are no unfulfilled conditions or contingencies attaching to these grants.
21
Bristol Area Meeting of the Religious Society of Friends (Quakers)
Notes to the financial statements
For the year ended 31 December 2022
7. Total expenditure
| Total expenditure | ||||
|---|---|---|---|---|
| Staff costs (note 10) Grants payable (note 8) Bank charges Cleaning Energy Gardening Hospitality Insurances Ministry / library Property repairs / maintenance Staff housing costs Waste disposal, water and sewerage Rent Depreciation Event costs Office and other costs Investment management fees Audit and accounting fees Sub-total Allocation of support and governance costs Total expenditure |
Raising funds £ 25,804 - - - - - - - - - - - - - - - 2,789 - 28,593 123,420 152,013 |
Charitable activities £ 34,616 43,486 - - - 22,457 613 - 20,803 - - - 1,510 158,985 5,140 - - - 287,609 123,420 411,029 |
Support and governance costs £ 8,012 - 1,034 22,586 13,130 - - 9,228 - 158,520 6,348 4,287 - - - 14,762 - 8,932 246,840 (246,840) - |
2022 Total £ 68,432 43,486 1,034 22,586 13,130 22,457 613 9,228 20,803 158,520 6,348 4,287 1,510 158,985 5,140 14,762 2,789 8,932 |
| 563,042 - |
||||
| 563,042 |
Total governance costs were £9,663 (2021: £11,357).
22
Bristol Area Meeting of the Religious Society of Friends (Quakers)
Notes to the financial statements
For the year ended 31 December 2022
| 7. Total expenditure Prior period comparative Staff costs (note 10) Grants payable (note 8) Bank charges Cleaning Energy Gardening Hospitality Insurances Ministry / library Other professional services Property repairs / maintenance Staff housing costs Waste disposal, water and sewerage Rent Depreciation Office and other costs Investment management fees Audit and accounting fees Sub-total Allocation of support and governance costs Total expenditure |
Raising funds £ 23,764 - - - - - - - - - - - - - - - 3,466 - 27,230 90,619 117,849 |
Charitable activities £ 23,765 42,149 - - - 9,325 6,054 - 17,278 - - - - 762 158,716 - - - 258,049 90,619 348,668 |
Support and governance costs £ 3,513 - 552 11,676 12,077 - - 9,220 - 18,768 94,440 6,894 2,504 - - 12,270 - 9,324 181,238 (181,238) - |
2021 Total £ 51,042 42,149 552 11,676 12,077 9,325 6,054 9,220 17,278 18,768 94,440 6,894 2,504 762 158,716 12,270 3,466 9,324 |
|---|---|---|---|---|
| 466,517 - |
||||
| 466,517 |
23
Bristol Area Meeting of the Religious Society of Friends (Quakers)
Notes to the financial statements
For the year ended 31 December 2022
8. Grants and donations payable
| Britain Yearly Meeting (scheduled donations) Other institutions Grants to institutions (23 institutions, 2021: 23) Grants to individuals (17 individuals, 2021: 4) |
2022 £ 34,072 2,896 36,968 6,518 43,486 |
2021 £ 32,555 8,201 |
|---|---|---|
| 40,756 1,393 |
||
| 42,149 |
9. Net movement in funds This is stated after charging:
| Depreciation Trustees' remuneration Trustees' reimbursed expenses (2022: nil trustees, 2021: 2) Auditors' remuneration: Statutory audit (including VAT) |
2022 £ 158,985 Nil Nil 8,600 |
2021 £ 158,716 Nil 1,823 7,800 |
|---|---|---|
Trustees' reimbursed expenses include meeting costs and reimbursement for items purchased on behalf of the charity.
10. Staff costs and numbers
Staff costs were as follows:
| Salaries and wages Pension costs |
2022 £ 66,149 2,283 68,432 |
2021 £ 49,325 1,717 |
|---|---|---|
| 51,042 |
No employee earned more than £60,000 during the year.
24
Bristol Area Meeting of the Religious Society of Friends (Quakers)
Notes to the financial statements
For the year ended 31 December 2022
10. Staff costs and numbers (continued)
The key management personnel of the charity comprise the Trustees, who did not receive any remuneration during the current or prior year.
| Average full time equivalents Average head count |
2022 No. 3.50 7.00 |
2021 No. 3.50 7.00 |
|---|---|---|
11. Taxation
The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
12. Tangible fixed assets
| Cost At 1 January 2022 Additions in year At 31 December 2022 Depreciation At 1 January 2022 Charge for the year At 31 December 2022 Net book value At 31 December 2022 At 31 December 2021 |
£ 5,978,458 - 5,978,458 818,313 102,289 920,602 5,057,856 5,160,145 Freehold property |
£ £ 302,366 713,998 - 77,183 302,366 791,181 1,374 56,480 2,749 39,559 4,123 96,039 298,243 695,142 300,992 657,518 Leasehold property Property improvements |
£ 71,622 1,272 72,894 36,978 14,388 51,366 21,528 34,644 Equipment |
Total £ 7,066,444 78,455 |
|---|---|---|---|---|
| 7,144,899 | ||||
| 913,145 158,985 |
||||
| 1,072,130 | ||||
| 6,072,769 | ||||
| 6,153,299 |
Included in freehold property is land totalling £864,000 that is not depreciated (2021: £864,000).
25
Bristol Area Meeting of the Religious Society of Friends (Quakers)
Notes to the financial statements
For the year ended 31 December 2022
13. Investments
| Market value at 1 January 2022 Additions Disposals proceeds Gains / (losses) Movement in cash balance Market value at 31 December 2022 Represented by: Listed investments Unlisted investments Cash Historic cost at 31 December |
Rathbones funds £ 319,601 23,100 (31,799) (61,646) 6,038 255,294 239,106 - 16,188 255,294 235,293 |
£ 20,000 - - - - 20,000 - 20,000 - 20,000 20,000 Unlisted investments |
2022 £ 339,601 23,100 (31,799) (61,646) 6,038 275,294 239,106 20,000 16,188 275,294 255,293 |
2021 £ 575,665 146,971 (419,459) 42,402 (5,978) |
|---|---|---|---|---|
| 339,601 | ||||
| 309,451 20,000 10,150 |
||||
| 339,601 | ||||
| 255,264 |
Unlisted investments comprise an investment co-operative share capital, which do not appreciate in value. The investment is reviewed annually for any diminution in value and is believed to be worth the amount stated in the balance sheet.
14. Debtors
| Trade debtors Other debtors Prepayments Creditors : amounts due within 1 year Trade creditors Accruals Other taxation and social security Other creditors |
2022 £ 37,682 95,010 1,848 134,540 2022 £ 11,175 10,790 2,091 1,562 25,618 |
2021 £ 15,707 20,889 - |
|---|---|---|
| 36,596 | ||
| 2021 £ 19,916 8,955 1,895 2,090 |
||
| 32,856 |
15. Creditors : amounts due within 1 year
26
Bristol Area Meeting of the Religious Society of Friends (Quakers)
Notes to the financial statements
For the year ended 31 December 2022
16. Analysis of net assets between funds
| Tangible fixed assets Investments Current assets Current liabilities Prior year comparative: Tangible fixed assets Investments Current assets Current liabilities Net assets at 31 December 2022 Net assets at 31 December 2021 |
£ 2,399,440 28,950 2,000 - 2,430,390 £ 2,452,280 40,423 2,000 - 2,494,703 Endowment funds Endowment funds |
£ - - 262,854 - 262,854 £ - - 105,612 - 105,612 Restricted funds Restricted funds |
£ 3,673,329 - 117,770 - 3,791,099 £ 3,701,019 - 148,076 - 3,849,095 Designated funds Designated funds |
£ - 246,344 72,871 (25,618) 293,597 £ - 299,178 229,162 (32,856) 495,484 General funds General funds |
Total funds £ 6,072,769 275,294 455,495 (25,618) |
|---|---|---|---|---|---|
| 6,777,940 | |||||
| Total funds £ 6,153,299 339,601 484,850 (32,856) |
|||||
| 6,944,894 |
27
Bristol Area Meeting of the Religious Society of Friends (Quakers)
Notes to the financial statements
For the year ended 31 December 2022
17. Movements in funds
| Endowment funds Permanent endowments: BQ Loan Funds Somerset Charities Land and buildings Total endowment funds Restricted funds Friends Relief Fund Women's Fund Horfield Memory Cafe Library Weekly Committee Appeals for Others Lower Hazel Path Parsloe legacy Other restricted funds Total restricted funds |
At 1 January 2022 £ 2,000 40,423 2,452,280 2,494,703 36,226 59,076 391 3,031 5,509 159 - - 1,220 105,612 |
Income £ £ - - - (2,421) - (52,840) - (55,261) 413 (2,665) 646 (2,911) - (391) - (435) 374 (932) 34,421 (35,334) 8,526 (8,526) 165,000 - 120 (1,064) 209,500 (52,258) Expenditure |
Gains/ (losses) £ - (9,052) - (9,052) - - - - - - - - - - |
£ - - - - - - - - - - - - - - Transfers between funds |
£ 2,000 28,950 2,399,440 At 31 December 2022 |
|---|---|---|---|---|---|
| 2,430,390 | |||||
| 33,974 56,811 - 2,596 4,951 (754) - 165,000 276 |
|||||
| 262,854 |
28
Bristol Area Meeting of the Religious Society of Friends (Quakers)
Notes to the financial statements
For the year ended 31 December 2022
17. Movements in funds (continued)
| Designated funds: Bedminster LM Camp Camp Bursaries Central LM Frenchay LM Horfield LM Nash Legacy Portishead LM Redland LM Thornbury LM Fixed assets fund Total designated funds General funds Total funds Total unrestricted funds Unrestricted funds |
At 1 January 2022 £ 8,124 6,684 508 11,672 47,327 23,370 2,000 7,185 38,277 2,929 3,701,019 3,849,095 495,484 4,344,579 6,944,894 |
Income £ £ 2,698 (1,287) 6,673 (5,491) - 1,388 (1,322) 5,212 (4,795) 2,432 (1,746) - (2,000) 386 (1,735) 6,959 (23,575) 2,281 - - (106,145) 28,029 (148,096) 220,205 (307,427) 248,234 (455,523) 457,734 (563,042) Expenditure |
Gains/ (losses) £ - - - - - - - - - - - - (52,594) (52,594) (61,646) |
£ (1,920) 508 (508) (1,344) (2,112) (1,600) (832) (7,168) (1,408) 78,455 62,071 (62,071) - - Transfers between funds |
£ 7,615 8,374 - 10,394 45,632 22,456 - 5,004 14,493 3,802 3,673,329 At 31 December 2022 |
|---|---|---|---|---|---|
| 3,791,099 | |||||
| 293,597 | |||||
| 4,084,696 | |||||
| 6,777,940 |
Purposes of endowment and restricted funds Bristol Quakers (BQ) To make loans to Friends in need, giving preference to loans for furthering Loan Funds their careers.
Somerset Charities
For the relief of poverty and other charitable purposes such as education or apprenticeship. The income generated from this fund is deemed to be unrestricted.
Land and buildings
This fund represents the freehold property held on permanent endowment for general charitable purposes. Expenditure against this fund represents depreciation charges.
Friends Relief Fund
To assist needy Friends.
Women's Fund
To assist needy women Friends.
Library For the upkeep of old Quaker books.
Horfield Memory Cafe
To provide for the setting up and maintenance of a cafe where those suffering from dementia and their carers can meet regularly.
Weekly Committee
To provide financial support to those Members and Attenders within Bristol Area Meeting who are struggling financially.
29
Bristol Area Meeting of the Religious Society of Friends (Quakers)
Notes to the financial statements
For the year ended 31 December 2022
17. Movements in funds (continued) Purposes of endowment and restricted funds (continued)
Appeals for Others Funds received specifically for organisations and projects that we support that we pass on including gift aid.
Lower Hazel Path To improve accessibility at the Lower Hazel Burial Ground. Parsloe legacy To be used by the Thornbury local meeting as the members see fit. Other restricted funds Various other restricted donations received and spent in accordance with the donor's wishes.
Purposes of designated funds
Designated funds represent amounts set aside for specific purposes, principally for repairs and maintenance of buildings. Also included in designated funds are funds for the specific Local Meetings and the value of fixed assets not held in endowment funds.
Transfers
The transfer between the Frenchay LM designated fund, fixed assets designated fund and general funds reflects property improvements and equipment additions in the year.
The other transfers through the designated funds represent changes in the designations.
Prior period comparative
| £ Endowment funds Permanent endowments: BQ Loan Funds 2,000 Somerset Charities 36,265 Land and buildings 5,585,744 Total endowment funds 5,624,009 Restricted funds Friends Relief Fund 36,790 Women's Fund 59,669 Friends School Charity 6,087 Bristol Education Fund 2,144 Horfield Memory Cafe 391 Library 3,031 Weekly Committee 5,170 Appeals for Others 2,123 Other restricted funds - Total restricted funds 115,405 At 1 January 2021 |
Income £ £ - - - (370) 367,195 (108,692) 367,195 (109,062) 5 (569) 7 (600) - (6,087) - (2,144) - - - - 562 (223) 37,161 (39,125) 1,220 - 38,955 (48,748) Expenditure |
Gains/ (losses) £ - 4,528 - 4,528 - - - - - - - - - - |
£ - - (3,391,967) (3,391,967) - - - - - - - - - - Transfers between funds |
£ 2,000 40,423 2,452,280 At 31 December 2021 |
|---|---|---|---|---|
| 2,494,703 | ||||
| 36,226 59,076 - - 391 3,031 5,509 159 1,220 |
||||
| 105,612 |
30
Bristol Area Meeting of the Religious Society of Friends (Quakers)
Notes to the financial statements
For the year ended 31 December 2022
17. Movements in funds (continued) Prior period comparative (continued)
| £ Designated funds: Bedminster LM 6,684 Camp 6,434 Camp Bursaries 508 Central LM 14,075 Frenchay LM 70,609 Horfield LM 21,333 Nash Legacy 2,000 Portishead LM 6,668 Redland LM 86,983 Thornbury LM 816 Fixed assets fund 434,145 Total designated funds 650,255 General funds 390,976 Total unrestricted funds 1,041,231 Total funds 6,780,645 At 1 January 2021 Unrestricted funds |
Income £ £ 2,248 (808) - - - - 2,528 (4,931) 6,118 (630) 3,554 (1,171) - - 909 (392) 34,567 (7,446) 2,211 (98) - (50,024) 52,135 (65,500) 130,079 (243,207) 182,214 (308,707) 588,364 (466,517) Expenditure |
Gains/ (losses) £ - - - - - - - - - - - - 37,874 37,874 42,402 |
£ - 250 - - (28,770) (346) - - (75,827) - 3,316,898 3,212,205 179,762 3,391,967 - Transfers between funds |
£ 8,124 6,684 508 11,672 47,327 23,370 2,000 7,185 38,277 2,929 3,701,019 At 31 December 2021 |
|---|---|---|---|---|
| 3,849,095 | ||||
| 495,484 | ||||
| 4,344,579 | ||||
| 6,944,894 |
18. Financial instruments at fair value
Financial assets measured at fair value
| 2022 | 2021 |
|---|---|
| £ | £ |
| 259,106 | 329,451 |
Financial assets measured at fair value comprise listed and unlisted investments.
19. Related party transactions
During the current year, a grant of £1,115 was paid to a trustee. This was approved by the Weekly Committee and was notified to the Clerk of Trustees. Total donations from trustees to the charity in the year were £5,923 (2021: £5,480). The trustees are not aware of any further related party transactions in the current or prior year.
31