Charity no. 1175435
# **Bristol Area Meeting of the Religious Society of Friends (Quakers) Report and Audited Financial Statements 31 December 2024**
## **Bristol Area Meeting of the Religious Society of Friends (Quakers)**
## **Reference and administrative details**
|**For theyear ended 31 December 2024**|**For theyear ended 31 December 2024**|
|---|---|
|**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
Resigned 31 December 2024
Ray Bray
Sam Briggs
Patricia De'Ath
Grahame Dixie
James Eddington
Appointed 1 August 2024
Jonathan Jewkes
Sanni Kruger
Catharina Pedder
Dean Smart
Barney Smith
Gillian Whitehead
Chair
Paul Whitehouse
Resigned 31 March 2024
Christine Joan Willmore
AM Treasurer from 1 April 2024
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
Epworth
9 Bonhill Street
London
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 2024**
## **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 2024**
Reference and administrative information set out on pages 1 - 2 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
## **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.
## **1.5 Membership**
**----- Start of picture text -----**
Local Meeting Members Members Attenders
2023 2024 2024*
Bedminster 24 24 19 (9)
Central 23 22 22 (4)
Frenchay 31 32 32 (11)
Horfield 25 24 37 (5)
Portishead 14 11 6
Redland 109 108 60 (8)
Thornbury 18 14 4
TOTAL AM 244 235 180 (37)
**----- End of picture text -----**
*Numbers in brackets are children, included in total attenders.
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## **Bristol Area Meeting of the Religious Society of Friends (Quakers)**
## **Report of the trustees**
## **For the year ended 31 December 2024**
## **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 2024.
## **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 2024**
## **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 2024 the value of this benefit to those organisations was £42,398.
## **2.2.2 Financial review and reserves policy**
During the year, the charity received income of £394,509, and incurred expenditure of £472,600, resulting in a deficit of £78,091 for the year before gains / (losses) on investments.
As at 31 December 2024 the charity had permanent endowment funds of £2,322,148 (the majority of which is represented by the Meeting Houses at Frenchay and Portishead), restricted funds of £106,299, and unrestricted funds of £4,124,962 (of which £3,516,594 relates to properties and other fixed assets). Free reserves, defined as unrestricted funds not held in designated funds or tangible fixed assets, and excluding non-liquid investments, were £152,819. The trustees' reserves policy is to hold three months general expenditure (£70,000) plus the average of five years expenditure for property maintenance (£82,000), a total of £152,000. Free reserves are currently in excess of this target, but we are aware of the need to carry out works to the Refugee House in Brislington. We will reconsider our reserves position when these costs have crystallised.
The trustees note that there is £476,139 of general funds carried forward (note 18), but that £307,813 of this figure is not immediately accessible, and relates to the value of the Pendennis Road Property investment (note 14).
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## **Bristol Area Meeting of the Religious Society of Friends (Quakers)**
## **Report of the trustees**
## **For the year ended 31 December 2024**
## **2.2.3 Summary of main achievements**
We have continued to use technology in our Local Meetings to provide the option for people to join in Meeting for Worship online, although the numbers attending in person have increased this year. The use of our Meeting Houses, by both Quaker and community groups throughout the week has also grown, providing valuable opportunities for outreach and mutual understanding.
In 2023 we completed the purchase of a house for use by refugees in the city by using the proceeds of the sale of Wardens’ accommodation and in 2024 agreed a three year lease to a charity who provide supported housing to refugees.
## **2.2.4 Sustainability**
A significant project commenced to decarbonise our meeting house at Bedminster, supported by a grant from Bristol City Council Community Resilience Fund. It has already resulted in cessation of all gas use at the site (replaced by an air source heat pump). In 2025 the solar PV system there will be enlarged and a battery added. At Redland, all gas use will have ceased by early 2025. Plans are in place for adding external thermal cladding at Horfield in mid-2025. Together these will make a significant contribution to our Net Carbon Zero goal.
## **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 and our risk register are reviewed regularly and systematically as a standing item on our Trustee Meeting Agenda, focusing on those areas where medium to high levels of residual risk have been identified.
## **2.2.6 Serious incidents**
There were no serious incidents.
## **2.2.7 Safeguarding**
The Area Meeting takes its responsibility for all safeguarding, especially children and adults at risk, very seriously. We have provided Training Seminars for a large number of our Members and Attenders in partnership with thirtyone:eight, an organisation specialising in Safeguarding support for religious organisations. These covered Safeguarding Children and Young People and Safeguarding Adults. We have begun to implement Safer Recruitment for all voluntary roles as well as paid staff in accordance with our new policy.
## **2.3 Report of trustees' committees**
## **2.3.1 Trustees**
The number of Trustees during the year varied between 11and 12 out of a permitted maximum of 15. Trustees are responsible for the practical 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 2024**
## **2.3.2 Employment and Wellbeing Committee**
The Committee continued to meet online throughout 2023. The main focus has been on the implementation of our new Safeguarding Policy and Procedures.
## **2.3.3 Finance Committee**
We purchased a property in the Brislington area of Bristol using the remaining proceeds of the sale of the Warden’s House at Hampton Road. The house was already managed by our partner charity ACH, which supports refugees in Bristol, which meant there was no disruption to the lives of the three refugees already living there. We have agreed a five year lease with ACH, with a review after three.
Hiring income held up well during the year. We recommended that Local Meetings reviewed and raise their hiring charges in line with inflation and have been considering our hiring policies and discounts to deliver a simpler more transparent system.
We routinely considered the management accounts at our quarterly meetings, looked at ways of how to encourage more Friends to contribute to Quaker work locally and nationally, and reviewed the policies owned by Finance Committee.
## **2.3.4 Property, Health and Safety (PH&S) Committee**
We purchased the property for housing refugees in the knowledge that external repairs and refurbishment would be required. Our architect has surveyed the property and provided a report specifying the works required, which will be used for inviting tenders.
We continue to monitor the subsidence of the Community Hall at Portishead.
## **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. The Committee has continued to meet regularly and to approve and administer payments of £7,451 (2023: £6,370) from our restricted funds to individuals 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 2024**
## **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 12 May 2025 and signed on their behalf by
James Eddington Clerk of Trustees
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## **Independent auditors' report**
## **To the trustees 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 2024 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 2024 and of its incoming resources and application of resources, 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 the provisions available for small entities, in the circumstances set out in note 10 to the financial statements, 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 other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.
9
## **Independent auditors' report**
## **To the trustees 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**
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
- the information given in the trustees’ report is inconsistent in any material respect with the financial statements; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records; or
- we have not received all the information and explanations we require for 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**
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
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:
10
## **Independent auditors' report**
## **To the trustees of**
## **Bristol Area Meeting of the Religious Society of Friends (Quakers)**
(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.
(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.
11
## **Independent auditors' report**
## **To the trustees of**
## **Bristol Area Meeting of the Religious Society of Friends (Quakers)**
## **Use of our report**
This report is made solely to the charityʼs trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. 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 charity and the charityʼs trustees as a body, for our audit work, for this report, or for the opinions we have formed.
## Godfrey Wilson Limited
Date: 15 May 2025
## **GODFREY WILSON LIMITED**
Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD
Godfrey Wilson Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
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## **Bristol Area Meeting of the Religious Society of Friends (Quakers)**
## **Statement of financial activities**
## **For the year ended 31 December 2024**
|Endowment
Note
£
**Income from:**
Donations and legacies
3
-
Charitable activities
4
-
Other trading activities
5
-
Investments
6
-
**Total income**
-
**Expenditure on:**
Raising funds
31
Charitable activities
52,840
**Total expenditure**
8
52,871
(52,871)
14
76
**Net income / (expenditure)**
(52,795)
Transfers between funds
-
**Net movement in funds**
10
(52,795)
**Reconciliation of funds:**
Total funds brought forward
2,374,943
**Total funds carried forward**
2,322,148
**Net income / (expenditure)**
**before gains / (losses)**
Net gains / (losses) on
investments|Restricted
£
74,469
-
-
5,416
79,885
-
46,055
46,055
33,830
-
33,830
(45,858)
(12,028)
118,327
106,299|Unrestricted
£
70,734
8,232
217,811
17,847
314,624
102,087
271,587
373,674
(59,050)
1,180
(57,870)
45,858
(12,012)
4,136,974
4,124,962|**2024**
**Total**
**£**
**145,203**
**8,232**
**217,811**
**23,263**
**394,509**
**102,118**
**370,482**
**472,600**
**(78,091)**
**1,256**
**(76,835)**
**-**
**(76,835)**
**6,630,244**
**6,553,409**|2023
Total
£
112,056
18,050
189,234
11,729
331,069
95,395
393,489
488,884
(157,815)
10,119
(147,696)
-
(147,696)
6,777,940
6,630,244|
|---|---|---|---|---|
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 18 to the accounts.
13
## **Bristol Area Meeting of the Religious Society of Friends (Quakers)**
## **Balance sheet**
## **As at 31 December 2024**
**----- Start of picture text -----**
2024 2023
Note £ £ £
Fixed assets
Tangible assets 13 5,810,354 5,915,283
Investments 14 437,361 418,734
6,247,715 6,334,017
Current assets
Debtors 15 113,388 134,078
Cash at bank and in hand 216,191 182,206
329,579 316,284
Liabilities
Creditors: amounts falling due within 1 year 16 (23,885) (20,057)
Net current assets 305,694 296,227
Net assets 17 6,553,409 6,630,244
Funds 18
Endowment funds 2,322,148 2,374,943
Restricted funds 106,299 118,327
Unrestricted funds
Designated funds 3,648,823 3,697,969
General funds 476,139 439,005
Total charity funds 6,553,409 6,630,244
**----- End of picture text -----**
Approved by the trustees on 12 May 2025 and signed on their behalf by
James Eddington Clerk of Trustees
Christine Willmore 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 2024**
|**Cash used in operating activities:**
Net movement in funds
Adjustments for:
Depreciation charges
Losses / (gains) on disposal of fixed assets
(Losses) / gains on investments
Dividends, interest and rents from investments
Decrease in debtors
Increase / (decrease) in creditors
**Net cash provided by / (used in) operating activities**
**Cash flows from investing activities:**
Dividends, interest and rents from investments
Purchase of tangible fixed assets
Proceeds from the sale of investments
Purchase of investments
Investment portfolio cash movement
**Net cash used in investing 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**|**2024**
**£**
**(76,835)**
**152,596**
**3,420**
**(1,256)**
**(23,263)**
**20,690**
**3,828**
**79,180**
**23,263**
**(51,087)**
**-**
**(17,874)**
**503**
**(45,195)**
**33,985**
**182,206**
**216,191**|2023
£
(147,696)
158,986
-
(10,119)
(11,729)
462
(5,561)
(15,657)
11,729
(1,500)
282,924
(431,251)
15,006
(123,092)
(138,749)
320,955
182,206|
|---|---|---|
The charity has not provided an analysis of changes in net debt as it does not have any long term financing arrangements.
15
## **Bristol Area Meeting of the Religious Society of Friends (Quakers)**
## **Notes to the financial statements**
## **For the year ended 31 December 2024**
## **1. Accounting policies**
## **a) Basis of preparation**
Bristol Area Meeting of the Religious Society of Friends (Quakers) is an unincorporated charity registered in England and Wales. The registered office address is Quaker Meeting House, 300 Gloucester Road, Bristol, BS7 8PD.
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.
16
## **Bristol Area Meeting of the Religious Society of Friends (Quakers)**
## **Notes to the financial statements**
## **For the year ended 31 December 2024**
**1. Accounting policies (continued)**
## **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.
## **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 incurred on directly undertaking the activities which directly further the charity's objectives, including any associated support costs.
17
## **Bristol Area Meeting of the Religious Society of Friends (Quakers)**
## **Notes to the financial statements**
## **For the year ended 31 December 2024**
## **1. Accounting policies (continued) 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:
|ollowing basis:|||
|---|---|---|
||**2024**|2023|
|Raising funds|**50%**|50%|
|Charitable activities|**50%**|50%|
## **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) Investment property**
Investment property is property (land or a building, or both) held (by the owner or by the lessee under a finance lease) to earn rentals or for capital appreciation or both.
Investment property is initially measured at cost, including transaction costs. Investment property is subsequently measured at fair value at the reporting date. This method of valuation applies to all the charity's investment properties.
Gains or losses arising from changes in the fair value of investment property are included in net profit or loss on the face of the Statement of Financial Activities for the period in which they arise.
## **l) 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.
18
## **Bristol Area Meeting of the Religious Society of Friends (Quakers)**
## **Notes to the financial statements**
## **For the year ended 31 December 2024**
**1. Accounting policies (continued)**
## **m) Unlisted investments**
Unlisted investments comprise investments in co-operative share capital and a green energy project, which are held at fair value. As co-operative shares do not appreciate in value, and the green energy project is still in its inception, the fair value for each approximates to historic cost less any impairment.
## **n) 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.
## **o) 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.
## **p) 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.
## **q) 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.
## **r) 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.
19
## **Bristol Area Meeting of the Religious Society of Friends (Quakers)**
## **Notes to the financial statements**
## **For the year ended 31 December 2024**
## **1. Accounting policies (continued)**
## **s) 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.
## **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 2024 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.
## **Unlisted investments**
As described in note 1(m), unlisted investments include an investment in an unlisted share of an energy project. The future returns on the investment are based on annual electricity consumption in future periods, and are not readily identifiable at the reporting date.
20
## **Bristol Area Meeting of the Religious Society of Friends (Quakers)**
## **Notes to the financial statements**
## **For the year ended 31 December 2024**
## **2. Prior period comparatives: statement of financial activities**
|£
**Income from:**
Donations and legacies
-
Charitable activities
-
Other trading activities
-
Investments
-
**Total income**
-
**Expenditure on:**
Raising funds
3,306
Charitable activities
52,840
**Total expenditure**
56,146
(56,146)
Net gains on investments
699
(55,447)
-
**Net movement in funds**
(55,447)
Transfers between funds
**Net income / (expenditure) before**
**gains / (losses) on investments**
Endowment
**Net income / (expenditure)**|Restricted
£
£
60,604
51,452
-
18,050
-
189,234
3,880
7,849
64,484
266,585
-
92,089
44,011
296,638
44,011
388,727
20,473
(122,142)
-
9,420
20,473
(112,722)
(165,000)
165,000
(144,527)
52,278
Unrestricted|2023
Total
£
112,056
18,050
189,234
11,729
331,069
95,395
393,489
488,884
(157,815)
10,119
(147,696)
-
(147,696)|
|---|---|---|
## **3. Income from donations and legacies**
|Donations
Grants
Legacies
**Total income from donations and legacies**|Restricted
£
£
41,494
57,529
32,975
190
-
13,015
74,469
70,734
Unrestricted|**2024**
**Total**
**£**
**99,023**
**33,165**
**13,015**
**145,203**|
|---|---|---|
21
## **Bristol Area Meeting of the Religious Society of Friends (Quakers)**
## **Notes to the financial statements**
## **For the year ended 31 December 2024**
**3. Income from donations and legacies (continued). Prior period comparative:**
|**Prior period comparative:**
Donations
Grants
**Total income from donations and legacies**|Restricted
£
£
28,104
51,452
32,500
-
60,604
51,452
Unrestricted|Restated
2023
Total
£
79,556
32,500
112,056|
|---|---|---|
Prior period income from donations and legacies has been restated to split out grants received. The restatement is presentational only, and does not impact the total.
## **4. Income from charitable activities**
|Events|**2024**
**£**
**8,232**|2023
£
18,050|
|---|---|---|
All income from charitable activities in the current and prior year was unrestricted.
## **5. Income from other trading activities**
|Lettings income
Feed-in tariff
**Total income from other trading activities**|**2024**
**£**
**208,183**
**9,628**
**217,811**|2023
£
179,310
9,924
189,234|
|---|---|---|
All income from other trading activities in the current and prior year was unrestricted.
22
## **Bristol Area Meeting of the Religious Society of Friends (Quakers)**
## **Notes to the financial statements**
## **For the year ended 31 December 2024**
## **6. Income from investments**
|Dividends and interest from investments
Income from property investments
Bank interest
**Total income from investments**
**Prior period comparative:**
Dividends and interest from investments
Bank interest
**Total income from investments**|£
£
-
2,703
-
13,800
5,416
1,344
5,416
17,847
£
£
-
3,639
3,880
4,210
3,880
7,849
Unrestricted
Unrestricted
Restricted
Restricted|**2024**
**Total**
**£**
**2,703**
**13,800**
**6,760**
**23,263**
2023
Total
£
3,639
8,090
11,729|
|---|---|---|
## **7. Government grants**
The charity receives government grants, defined as funding from Bristol City Council to fund capital improvements. The total value of such grants in the period ending 31 December 2024 was £21,381 (2023: £32,500). There are no unfulfilled conditions or contingencies attaching to these grants in 2024.
23
## **Bristol Area Meeting of the Religious Society of Friends (Quakers)**
## **Notes to the financial statements**
## **For the year ended 31 December 2024**
## **8. Total expenditure**
|Staff costs (note 11)
Grants payable (note 9)
Bank charges
Cleaning
Energy
Gardening
Hospitality
Insurances
Ministry / library
Property repairs / maintenance
Staff housing costs
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**
Waste disposal, water and
sewerage|Raising
funds
£
30,534
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
503
-
31,037
71,081
**102,118**|Charitable
activities
£
42,303
51,546
-
-
-
11,324
1,257
-
29,222
-
-
-
2,066
152,596
9,086
-
-
-
299,400
71,082
**370,482**|Support and
governance
costs
£
12,497
-
1,456
17,006
27,118
-
-
10,958
-
30,551
7,221
10,270
-
-
-
15,486
-
9,600
142,163
(142,163)
**-**|**2024 Total**
**£**
**85,334**
**51,546**
**1,456**
**17,006**
**27,118**
**11,324**
**1,257**
**10,958**
**29,222**
**30,551**
**7,221**
**10,270**
**2,066**
**152,596**
**9,086**
**15,486**
**503**
**9,600**
**472,600**
-
**472,600**|
|---|---|---|---|---|
Total governance costs were £10,475 (2023: £9,660).
24
## **Bristol Area Meeting of the Religious Society of Friends (Quakers)**
## **Notes to the financial statements**
## **For the year ended 31 December 2024**
|**8.**
**Total expenditure**
**Prior period comparative**
Staff costs (note 11)
Grants payable (note 9)
Bank charges
Cleaning
Energy
Gardening
Hospitality
Insurances
Ministry / library
Property repairs / maintenance
Staff housing costs
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**
Waste disposal, water and
sewerage|Raising
funds
£
28,601
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
1,997
-
30,598
64,797
95,395|Charitable
activities
£
39,810
68,638
-
-
-
8,483
637
-
31,338
-
-
-
1,866
158,986
18,934
-
-
-
328,692
64,797
393,489|Support and
governance
costs
£
12,040
-
1,192
21,662
22,540
-
-
10,686
-
23,291
6,995
5,944
-
-
-
16,030
-
9,214
129,594
(129,594)
-|2023 Total
£
80,451
68,638
1,192
21,662
22,540
8,483
637
10,686
31,338
23,291
6,995
5,944
1,866
158,986
18,934
16,030
1,997
9,214
488,884
-
488,884|
|---|---|---|---|---|
25
## **Bristol Area Meeting of the Religious Society of Friends (Quakers)**
## **Notes to the financial statements**
## **For the year ended 31 December 2024**
|**9.**
**Grants and donations payable**
Britain Yearly Meeting (scheduled donations)
Other institutions:
AEOBhousepeople Limited
St. Luke's Project
Together4Bristol
Bristol Holocaust Memorial Day Steering Group
BS3 Community Development
QCEA British Committee
FWCC
Pickering & Hull Area Quaker Meeting
Reparations Project
Thirsk Friends Meeting House
Churches Together
Thornbury DCA
Peace Museum
Bridges for Communities
Come to Good fund
Grants to institutions (11 institutions, 2023: 9)
Grants to individuals (23 individuals, 2023: 13)
**10. Net movement in funds**
This is stated after charging:
Depreciation
Trustees' remuneration
Trustees' reimbursed expenses (2024: 5 trustees, 2023: 1)
Auditors' remuneration:
Statutory audit (excluding VAT)|**2024**
**£**
**35,867**
**-**
**-**
**-**
**321**
**-**
**479**
**113**
**-**
**2,700**
**100**
**25**
**486**
**100**
**305**
**100**
**40,596**
**10,950**
**51,546**
**2024**
**£**
**152,596**
**Nil**
**1,425**
**8,000**|2023
£
36,578
19,950
2,155
1,000
998
734
569
185
100
-
-
-
-
-
-
-
62,269
6,369
68,638
2023
£
158,986
Nil
108
7,650|
|---|---|---|
Trustees' reimbursed expenses include reimbursement for travel and subsistence, and repayment of purchases made on behalf of their Local Meeting.
In common with other charities of our size, our auditors also assist in the preparation of the financial statements.
26
## **Bristol Area Meeting of the Religious Society of Friends (Quakers)**
## **Notes to the financial statements**
## **For the year ended 31 December 2024**
## **11. Staff costs and numbers**
Staff costs were as follows:
|Salaries and wages
Pension costs|**2024**
**£**
**82,202**
**3,132**
**85,334**|2023
£
77,526
2,925
80,451|
|---|---|---|
No employee earned more than £60,000 during the current or prior year. 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|**2024**
**No.**
**4**
**7**|2023
No.
4
7|
|---|---|---|
## **12. Taxation**
The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
## **13. Tangible fixed assets**
|**Cost**
At 1 January 2024
Additions in year
Disposals
**At 31 December 2024**
**Depreciation**
At 1 January 2024
Charge for the year
Disposals
**At 31 December 2024**
**Net book value**
**At 31 December 2024**
At 31 December 2023|£
5,978,458
-
-
**5,978,458**
1,022,891
102,289
-
**1,125,180**
**4,853,278**
4,955,567
Freehold
property|£
£
302,366
792,681
-
45,858
-
-
**302,366**
**838,539**
6,872
135,673
2,748
41,927
-
-
**9,620**
**177,600**
**292,746**
**660,939**
295,494
657,008
Leasehold
property
Property
improvements|£
72,894
5,229
(4,274)
**73,849**
65,680
5,632
(854)
**70,458**
**3,391**
7,214
Equipment|**Total**
**£**
**7,146,399**
**51,087**
**(4,274)**
**7,193,212**
**1,231,116**
**152,596**
**(854)**
**1,382,858**
**5,810,354**
5,915,283|
|---|---|---|---|---|
Included in freehold property is land totalling £864,000 that is not depreciated (2023: £864,000).
27
## **Bristol Area Meeting of the Religious Society of Friends (Quakers)**
## **Notes to the financial statements**
## **For the year ended 31 December 2024**
## **14. Investments**
|Additions
Disposals proceeds
Net gains / (losses)
Movement in cash balance
**Represented by:**
Listed investments
Unlisted investments
Investment property
Cash
**Market value at 31**
**December 2024**
Market value at 1 January
2024|Rathbones
funds
£
113,288
-
-
1,256
(503)
114,041
114,041
-
-
-
114,041|£
50
15,457
-
-
-
15,507
-
15,507
-
-
15,507
Unlisted
investments|Property
£
305,396
2,417
-
-
-
307,813
-
-
307,813
-
307,813|**2024**
**£**
**418,734**
**17,874**
**-**
**1,256**
**(503)**
**437,361**
**114,041**
**15,507**
**307,813**
**-**
**437,361**|2023
£
275,294
431,251
(282,924)
10,119
(15,006)
418,734
112,106
50
305,396
1,182
418,734|
|---|---|---|---|---|---|
Unlisted investments comprise investments in co-operative share capital and shares of a clean energy project. The investment in co-operative share capital is reviewed annually for any diminution in value and is believed to be worth £50 (2023: £50). The green energy project is still in its initial development phase, so the fair value equates to historic cost of £15,457 (2023: £nil).
## **15. Debtors**
|Trade debtors
Accrued income
Prepayments
Other debtors|**2024**
**£**
**28,068**
**75,765**
**-**
**9,555**
**113,388**|2023
£
15,930
115,385
100
2,663
134,078|
|---|---|---|
28
## **Bristol Area Meeting of the Religious Society of Friends (Quakers)**
## **Notes to the financial statements**
## **For the year ended 31 December 2024**
## **16. Creditors : amounts due within 1 year**
|Trade creditors
Accruals
Other taxation and social security
Other creditors
**Analysis of net assets between funds**
£
Tangible fixed assets
2,293,760
Investments
26,388
Current assets
2,000
Current liabilities
-
**2,322,148**
**Prior year comparative:**
£
Tangible fixed assets
2,346,600
Investments
26,343
Current assets
2,000
Current liabilities
-
2,374,943
**Net assets at**
**31 December 2024**
**Net assets at**
**31 December 2023**
Endowment
funds
Endowment
funds|£
-
-
106,299
-
**106,299**
£
-
-
118,327
-
118,327
Restricted
funds
Restricted
funds|£
3,516,594
-
132,229
-
**3,648,823**
£
3,568,683
-
129,286
-
3,697,969
Designated
funds
Designated
funds|**2024**
**£**
**3,383**
**14,044**
**3,365**
**3,093**
**23,885**
£
-
410,973
89,051
(23,885)
**476,139**
£
-
392,391
66,671
(20,057)
439,005
General
funds
General
funds|2023
£
2,313
13,970
2,459
1,315
20,057
**Total**
**funds**
**£**
**5,810,354**
**437,361**
**329,579**
**(23,885)**
**6,553,409**
Total
funds
£
5,915,283
418,734
316,284
(20,057)
6,630,244|
|---|---|---|---|---|
## **17. Analysis of net assets between funds**
29
## **Bristol Area Meeting of the Religious Society of Friends (Quakers)**
## **Notes to the financial statements**
## **For the year ended 31 December 2024**
## **18. 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
Library
Weekly Committee
Appeals for Others
Other restricted funds
**Total restricted funds**
_Designated funds:_
Bedminster LM
Camp
Central LM
Frenchay LM
Horfield LM
Portishead LM
Redland LM
Thornbury LM
The Fairgrieve Legacy
Fixed assets fund
_Total designated funds_
General funds
**Total funds**
Community Resilience
Fund
**Unrestricted funds**
**Total unrestricted funds**|At 1
January
2024
£
2,000
26,343
2,346,600
2,374,943
32,970
57,027
2,467
3,445
761
21,381
276
118,327
4,945
11,008
9,586
46,525
21,816
3,456
8,902
23,048
-
3,568,683
3,697,969
439,005
4,136,974
6,630,244|Income
£
£
-
-
-
(31)
-
(52,840)
-
(52,871)
1,667
(900)
3,749
(8,754)
-
(265)
349
(269)
41,145
(35,867)
32,975
-
-
-
79,885
(46,055)
1,414
(801)
7,782
(8,575)
1,081
(5,868)
4,306
(2,571)
2,520
(1,981)
491
(248)
8,566
(2,533)
2,604
(566)
31,250
-
-
(99,757)
60,014
(122,900)
254,610
(250,774)
314,624
(373,674)
394,509
(472,600)
Expenditure|Gains/
(losses)
£
-
76
-
76
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
1,180
1,180
1,256|£
-
-
-
-
-
-
-
-
-
(45,858)
-
(45,858)
(619)
-
(1,198)
(5,219)
(2,727)
(821)
(3,458)
(19,886)
-
47,668
13,740
32,118
45,858
-
Transfers
between
funds|**£**
**2,000**
**26,388**
**2,293,760**
**2,322,148**
**33,737**
**52,022**
**2,202**
**3,525**
**6,039**
**8,498**
**276**
**106,299**
**4,939**
**10,215**
**3,601**
**43,041**
**19,628**
**2,878**
**11,477**
**5,200**
**31,250**
**3,516,594**
**3,648,823**
**476,139**
**4,124,962**
**6,553,409**
**At 31**
**December**
**2024**|
|---|---|---|---|---|---|
30
## **Bristol Area Meeting of the Religious Society of Friends (Quakers)**
## **Notes to the financial statements**
## **For the year ended 31 December 2024**
**18. Movements in funds (continued) 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. Weekly Committee To provide financial support to those Members and Attenders within Bristol Area Meeting who are struggling financially. Appeals for Others Funds received specifically for organisations and projects that we support that we pass on including gift aid. Community Resilience Funding from Bristol City Council for upgrade works to the Bedminster Fund Meeting House. 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 general funds and the fixed assets designated fund reflects equipment additions in the year.
The transfers from designated funds into general funds represent the contribution from Local Meeting houses to the Area Meeting.
The transfer from the Community Resilience Fund represents the capital expenditure on improvements to the Bedminster Meeting house.
31
## **Bristol Area Meeting of the Religious Society of Friends (Quakers)**
## **Notes to the financial statements**
## **For the year ended 31 December 2024**
## **18. Movements in funds (continued) Prior period comparative**
|£
**Endowment funds**
_Permanent endowments:_
BQ Loan Funds
2,000
Somerset Charities
28,950
Land and buildings
2,399,440
**Total endowment funds**
2,430,390
**Restricted funds**
Friends Relief Fund
33,974
Women's Fund
56,811
Library
2,596
Weekly Committee
4,951
Appeals for Others
(754)
Parsloe legacy
165,000
-
Other restricted funds
276
**Total restricted funds**
262,854
_Designated funds:_
Ammerdown
-
Bedminster LM
7,615
Camp
8,374
Central LM
10,394
Frenchay LM
45,632
Horfield LM
22,456
Portishead LM
5,004
Redland LM
14,493
Thornbury LM
3,802
Fixed assets fund
3,673,329
_Total designated funds_
3,791,099
General funds
293,597
**Total unrestricted funds**
4,084,696
**Total funds**
6,777,940
**Unrestricted funds**
Community Resilience
Fund
At 1 January
2023|Income
£
£
-
-
-
(3,306)
-
(52,840)
-
(56,146)
1,474
(2,478)
2,406
(2,190)
-
(129)
376
(1,882)
38,847
(37,332)
-
-
21,381
-
-
-
64,484
(44,011)
10,416
(14,462)
1,816
(2,456)
6,805
(4,679)
1,871
(1,209)
3,473
(480)
2,677
(1,567)
475
(1,113)
8,124
(2,319)
1,520
-
-
(106,146)
37,177
(134,431)
229,408
(254,296)
266,585
(388,727)
331,069
(488,884)
Expenditure|Gains/
(losses)
£
-
699
-
699
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
9,420
9,420
10,119|£
-
-
-
-
-
-
-
-
-
(165,000)
-
-
(165,000)
4,046
(2,030)
508
(1,470)
(2,100)
(1,750)
(910)
(11,396)
17,726
1,500
4,124
160,876
165,000
-
Transfers
between
funds|£
2,000
26,343
2,346,600
2,374,943
32,970
57,027
2,467
3,445
761
-
21,381
276
118,327
-
4,945
11,008
9,586
46,525
21,816
3,456
8,902
23,048
3,568,683
3,697,969
439,005
4,136,974
6,630,244
At 31
December
2023|
|---|---|---|---|---|
32
## **Bristol Area Meeting of the Religious Society of Friends (Quakers)**
## **Notes to the financial statements**
**For the year ended 31 December 2024**
## **19. Financial instruments at fair value**
|Financial assets measured at fair value|**2024**
**£**
**129,548**|Restated
2023
£
113,338|
|---|---|---|
Financial assets measured at fair value comprises listed investments and unlisted investments. Prior period financial assets measured at fair value have been restated to exclude property investments.
## **20. Related party transactions**
During the current year, a grant of £500 was paid to 1 Trustee (2023: £640). This was approved by the Weekly Committee and was notified to the Clerk of Trustees.
Total unrestricted donations from Trustees to the charity in the year were £14,473 (2023: £12,163).
Two Trustees, Patricia De'Ath and Paul Whitehouse, were also directors of AEOB (Abolish Empty Office Buildings, House People). The charity holds shares in AEOB, valued at £50. There were 2 payments received from AEOB worth £109 (2023: £nil). In the prior year the charity donated £19,950 of their shares in AEOB back to the organisation.
The Trustees are not aware of any further related party transactions during the year.
33