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:|
|---|---|
1
## **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
2
## **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:
- Strengthening the life and witness of Quaker meetings both in the area of Bristol Area Meeting and beyond;
- Spreading the message of Quakers and interpreting and developing the thought and practice of the Religious Society;
- Undertaking Quaker service for the relief of suffering at home and abroad;
- Funding the concerns that Quaker meetings in the area of Bristol Area Meeting or beyond have adopted or agreed to support;
- Providing for the pastoral care of individual members and attenders including assistance to those in need and for education;
- Maintaining and developing Quaker meeting houses as places for public worship and from which to carry our witness into the world; and
- 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.
3
## **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.
- **Bedminster Quaker Meeting House,** Wedmore Vale, Bedminster, BS3 5HX **;**
- **Central Quaker Meeting House,** Champion Square, BS2 9DB;
- **Frenchay Quaker Meeting House (and attached Warden’s Cottage),** Beckspool Road,
- ▪ Frenchay, BS16 1NT **;**
- **Horfield Quaker Meeting House,** 300 Gloucester Road, Horfield, BS7 8PD;
- **Portishead Quaker Meeting House,** 11 St Mary’s Road, Portishead, BS20 6QP;
- **Redland Friends Meeting House,** 126 Hampton Road, Redland, BS6 6JE **;** and
- **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:
- **Kings Weston Burial Ground,** Kings Weston Lane, Bristol, BS11 0QT **;** and
- ▪ **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.
5
## **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.
6
## **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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and accounting estimates that are reasonable and prudent;
- 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
- 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
8
## **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:
- 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;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- 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.
9
## **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:
- sufficient accounting records have not been kept;
- the financial statements are not in agreement with the accounting records and returns; or
- 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:
- Identifying, evaluating and complying with laws and regulations, and whether they were aware of any instances of non-compliance;
- Detecting and responding to the risk of fraud, and whether they were aware of any actual, suspected or alleged fraud; and
- 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:
- ▪Testing the appropriateness of journal entries;
- ▪Assessing judgements and accounting estimates for potential bias;
- ▪Reviewing related party transactions; and
- ▪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.
11
## **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
12
## **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|
|||||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
14
## **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**|
15
## **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.
16
## **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