Charfty r•glstratlDn number 1184347 (England •nd Wal8s) TEESDALE AND CLEVELAND AREA MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 TEESDALE AND CLEVELAND AREA MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS IQUAKERS) IN BRITAIN LEGAL AND ADMINISTRATIVE INFORMATION Trustsos Rthard Moryan D￿thY IAfjIIis Mark Sheffield Graham Eosterf {App￿nted 1 janu￿ 2025) Charlty nurthr 1184347 Addr•M for ¢ormpondenc• Friends Meeb'rvj House 6 Skinnergats Darlirwton County Durham DL3 7NB Ind•p•nd•nt •x•rnln•r PAf J Yorrch¥ FCA Jlen Sykes Liftlled 5 Henson Close South Churth Enterprisè Part( &'ShopAu￿8nd Co Durham DL14 81 TEESDALE AND CLEVELAND AREA MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN CONTENTS Pago Trustees, reFXJrt Independenl ¢xamin•rf$ reFrfYt Stslem&* of flnanaal activitie8 Stslement of financial p￿til Notes to the Ilnancial stslements 9-20 TEESDALE AND CLEVELAND AREA MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Tho tru$tee8 presenl Iheir an1￿￿1 report and financial slatern￿ for lh& year eTrJed 31 De¢ember 2024. The finanual statements have been prepared in r*COr￿ wrth Ihe ￿￿nts"r￿d p)lides set ¢xrt in note 1 to the financial statements and cclnply with ts Chantses Act 2011 aTrJ"Accounting and Rep)iting by CharitK*s.' Ststement of Recommended Practlce aFgluble to th8riti8s FryarirvJ their %¢￿nIS in accordance with the FIn￿cIal Reporting Standard applicable in the UK 8nd Republic of IrdaThJ {FRS 1021. leffe¢lr4e 1 January 2019). ObJ•ctlvM and •¢tlvltl•# The Area Meeting is 8 charity 8Stablished for the adva￿er￿nt of religion and Ot￿ charitsble purposes suth as thos8 that derivè from or tear to the principles and pr￿t￿ of lh¢ Rellglous Society of Friand8 lQu8kersl. The wlncipal aCtI￿ty is Inomaltyl the hoklirvj of public meelirvjs for wornhip in tho consbtuenl bcgl meetings ol C￿he(SI0nQ. Dartlngton, Gr•atAyton. MiddlesLwh. Norton and O¥rT¥)ther*. The Irustees have pald due rogard to gUId￿e is8u8d by tho cha￿ C¢mmlg8lon in d•¢hllng wt￿t aGti￿￿e5 the ¢hadty Should urKl•rtake. Achlov•m•nts and p•rfornMnc• The Covld pandemiG ha8 left a ¢￿'nUing mark. Th¢r8 are sliS1 chaltenge8 voluntsry tasks b•ing harder to ¢omplete, and ￿ would like to Ihank Helen Whittsryton. who manoges our commercial properties in Darfinglon In addition to her voluntsry re8pon8ikn'lity'èS. We have begun to see a limited number of Friends able to offer skllled volunteer work aTrJ thi8 Is compwnded by our aging momb8r8hip. Ilthlle Iru$lees have Congldered the po88lbllity ol further pald help, wo have thus been unable to find appro￿ re8ourc88 to facilitate th1$. We maiilain a watchfvl bdef on the ￿tUall0n. Significant 8UPPOrt has been provlded to LLKal mee￿ng8. In Norton, support was critl¢al due to tro 1088 of key members, and temporary Treasurer a88i8tsnc6 was pu¢ in plw lo Iwlp stabllise thwr financlal situ4kn'on. Thi5 is a temporary m8a8ure and will be revM¥ed. A8 an Aro8 Meeting, wa detem)Ine to molnlain rJJr commerclal F*cperties at Sklnnergate, Darllngton, Tr)t only for Income bul to contrrbute to the recovery of the historic street. 7 Skinnergale remainy occupied by Indulgenee, long$tandiro beauty ffim. 4 Skinrergate has been leased ￿ a on&year license 10 chan￿5, ￿1¢￿ 8pecoli2es in selling 8th￿r￿. 6 Skinnergate ha8 8￿￿U￿tered past issues ￿3k1Thg rainwater drains. but those have now been resofved, and space is u68d both for communlty aclivities and professional offices. The first-floor room of 8 Skinnergale IB nowlot to threg artlsts. ￿ing1￿j vibrancy to wr prcwty. The future of the 08motherf•y domtw remgins Ur￿l￿n, Ixrt rt18 crucaal to make it thwathtr(￿hl whlle we Segrch for a polential u88. Lttal Me•tlng8 W6 give thanks fcf signs of lrfe and rene•¥al in our Lct81 Meetings. whwe wg hav8 been gladdened ty èn Increase in new 8ttenders dfawn lo our Quaker worship, •longside aWutions for Membership from some longer-slandlng attenders wh) feel led to de￿￿r commitmgnt among Friends. TCAM has tsithfulw supported a range of buildlng works to 8U8tain these vltal centres of worship and fel￿>￿1p, including r￿W wini*)w8 at Middlesbrough Meeting House arKI a n8w mof ￿ the Osmotherley awllary buildiro. conlinue lo hold that Zoom worship offers continued access for those able to ityn remotety. enabliry the Spiril lo gather us xross distan￿ as we discwn together. In Ihls. we etho our Shared leadirvJ that local meelings are Ihe heart of our Qu8ker way, where Friends meet to worshlp, discern. and act ￿ that 4thich Lov8 requires of ￿￿, nurturlThJ StrU¢t￿ frt for purFosg amid the hallenges of cw time. TEESDALE AND CLEVELAND AREA MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Colh•rJton• In 2024. Cotherstone Meetlng 8fTh¥cases a ￿athY allendance of 5 to 12 Frlends weekly, with notsbk partiThPob'on on speaal occa&ons. The MeeliTr3 has welcomed new members frc4)) lA￿ardaL8. Clerking duties wore thar8d among three volunteers ovei year. aided by a Correspxthrtt Ckn*. C(KnmunicalI￿ has improvèd wth the establishment of a ￿atsApp group. Premises st￿rdShIp indL*Jes effcrts tcmard trf'odiversty with a %￿IdI￿a gardening 8cheme and the creation of a new bench. The library has expanded. and ethical de¢iBlons led to banknng switch lo the C(koperative Bank for 2025. To enhance accessibility, monlhty wnter meetings are again hold in th& Bamard Casue Guidgs HQ. Additionally, 8wcas8ful H8ri1898 Open Day8 W9re org4nized lo eelebrale earty Quaker history, drawing aFpr0￿mateIY 50 Nisrtors. Darllngton Thg Darlingtcn Meeting focus•(l on nurturing it¥ Quaker communty in 2024, implementirvJ Th) Significant ¢h8ng&s iSe revitaliing c￿Mun91 lurthes wlh meaninglul dis¢us$ion$ on Quaker i88ue8. Not8bLg improvoments IncIL￿& naw gates and carpots lo anhanc8 88fety and 8ecurity. The establishment of a Meeting Housè M*nagem8rt COMM￿tea has streamlined piatheal management tasks. Rèwving ir￿perSOn Thursday Meetings for w￿ShIp ha9 fostered steady attend•nce. Thè eommunity partlcip81ed in an Open Day in October, inviting publlc engagemgnl with $u¢ee$sfiJl outcomes. Additionally, ts Meèb'ng organlzed a 'sLxk Sunday, donalion event and 8 silent p8ace vigil. Plan¥ to athJr8S8 tree m8no9gmFml In the ￿￿01 grour*J were finally rn8c4ved towards th8 y@ar￿nd. Grnat Ayton In Gr88t Ayton. attendance for Sunday Meetlng8 for V4tr8hlp remalns 81abl•, ￿th 1&20 Fr￿ndS ond attender8 present. Post-covid, a strUctU￿d ￿ndaY reading has bggn Introduced. fostgring ministry aTrJ communty th'8CU8$ion8. Efforts to ensure shared resp(*)sIbil￿.es am¢)ng aglng m8mbers continue, suppc¥led by 8 w¢eeBslon plan fc¢ derks. While hifiTr3 facilits'es remains steaty, financè$ rèmain balanced. A technical survey of a slgniflcanl beech tree confirmed rt8 health. Collab)rahon8 With othèr Ictal churehes foster a unified Chiistian message. Communication effort8 indude public listings lo attra¢t att¢nd•nee. along with consKlering a polenbal ￿bsIte creatlon. Mlddl•ibrough Middl88brouth Meellng ha8 16 Fr*nd8 aThl expgcl anxwKI 11>12 to attend blended s￿￿aY vAy8hip. 8ussn06$ meelirKJs continue on Zoom for ease of attend8nce Community ¢ngagemenl has In¢￿a58￿ through regular bwkings. 1K1￿ling lor IAuslim Pr&v￿ld1ry celebralions ond hosb'ng a Repair C8fé, fo6tthng warm inter.Gommunlty Int8raction. The Meellng Hou88 daabt a bre8k-in hys sirte enhanced securrty wth repalrs to d¢)or8 and wlndows. Plans for 8oryal craft o¥enls ￿ uTrJwway to Strerytr￿n COn￿Unty t*1. Norton Norton Meeting continues to hold bterKled Worship, vAth attendance typlcally ot $8 Friands. The cnmmunity has fa￿d losses with the passing of valued members and the depa￿Te of otsrs to France. Financial marogemenl ha$ improved, aided by 8 temporary treasurer who has $treamlin8d operalions. Communty efforts In the graveyard 8re thriving. including 8 8ucce881ul 8ee&sharirrfJ pYojec* by regicxBI volunttsers. The orwng dedlcats'on of Friends foster5 resilience. desF4te chdleng88. OBrnoth8rf8y 08molherfey Meeting per6is16 wlh SuThYay galherlrg8. adapts'ng atteTrJance 8tructure8 due lo health and ereavement issues. Fundraisiro for Meeb'ng House upgrades continues, focugng on ￿ce￿IbilIty. The Area Meeting has taken charge of refiJth"8hing the dormitory block, the rwf repair pU4nn8d for July 2024. Efforts for improved signage and access Ir8ck upJr&Jes are orvjoing. Regular income comes from the renting of burial plots and weekly band rehearsals, al￿￿8￿￿e communty support for overall upkeep aThJ recovery from pa8t environmental damages. TEESDALE AND CLEVELAND AREA MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Cromlng Boundarl•• are rJJrrently engaged in an exrAoralion called Cros8lng BouNJari88, in cdlat¥)ration with three other Area Meetings." Cumbedand. Northumbria. aTrJ ￿ÈnS*ds￿ and Swaledae. This initiative focu5es on fostering closer Co-operatic￿, potentialty leading to a single chanty and set ol twslees covanng our broader area. ￿lIe the idea ol gr8ater Collaborat￿ is app8aling. there are doubts about how this propct is Structur&￿It doesnl have the fom￿1 backirKJ of Britain Yearfy Meelir#J like it5 wedeethsor RECAST did. Cmms also Ilnger regarding hThv well trustees would maintain Conn￿￿On8 ¥Jlth indlvodual moetiws rfthey covored a vThJar ragknn. Crossing Boundanes aims lo address sh•red challenges of attracting Friends to fill rc4es %wthin Area Meeting$. Variou8 mc4Jds are being con8Klered, Tangiro from forniing a mergad Area Meeting to estsblishing a new char that oversees financial and propety management while keeping exislirvJ Arga ma0￿n93 autonomous. We anticlpate re focused discusslons arKI di8(xmments on thi8 initiatNe in 2025. Fln•ncl•l rnvl•w AS the charity operates wmarily through its loeal MeeliThJs. exh of Ihe8e has its fiJnd8 and bank accountl8I. The IcKal Meelirvj accounts arg consolidated into the 0￿ra11 accounts of the ch*ty. Each local M￿.ng Ihtrro has an annual expendilure and cc#nmllments. are monitored by Tru3lee$ as the funds are es8enlidly 811 part of the ch8ritys funds. However, Ihl8 means Ihat each local Meeting IB expttted to carry Its I￿n reS¢NO$ In accordance with the charity commis6ion gukldino6. The r08eT¥e8 poliGy applies, th•refore. lo the fwd$ hahd for dlredly contrc418d ty IheAre8 meets.￿J. The polty 1$ lo hold in resérva 8ufflcthl fur￿$ for.. Propety repalrs {1 yearl {2% of Insuranca valualon as rKommeThJod by BYMI - £80.851 Running costs11 year) (rates for Wentlally empty commercial propeTtiesl- £20.000 Professional ¥ervice# {1 yeafl - £18,180 making 4 totsl of £118.831. (The figures ar• b•8od on &￿M￿te$ obtsined in wevlou8 ye8r8 but wll not have charyd 81gnlffic8nly.I At 31 Docomber 2024 the ch8fity had free reserves of £198.777, somth¥hat m￿e than nece8sary, but Tru8tee8 ¢ontinu& to fed th81 Ihls is desirafje In ￿eW of considerable likely exwditure on the varlous works recomm¢nd8d by ¢Jur Quinquennial Revithv of Pfoperties. Structur•i gov•rnan¢8 and rnanag•ffl￿t The charity 18 8 CharitaNe kne￿(x81ed OrgaThsatiw ICIO). Tho trus188S 8erv0d during th• y•ar and up to dote of signaturé of thè finandal 8tatements were". Margot LunnDn (Re5NJned 31 Decernber 20241 Jane B¢)oth (Re8igned 2 J8nugry 2024) RKhard Morgan Dorothy INIIi8 Mork Sheffidd Grah4m Ea¥ledow IAppolnt8d 1 January 2025) TEESDALE AND CLEVELAND AREA MEETING OF THE REUGIOUS SOCIETY OF FRIENDS IQUAKERS) IN BRITAIN TRUSTEES. REPORT IC(XITWWED) FOR THE YEAR EIIOED 31 DECEMBER 1024 £ k)LLtsd TEESDALE AND CLEVELAND AREA MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF TEESDALE AND CLEVELAND AREA MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN I rgpwt lo the trustees on my examinabon of the financial statements of Teesdale 8nd Cleveland Area Meeting 01 Religious Society of Friends (auakersl in Britain (the chantyl for the yaar ended 31 tknmber 2024. R•sponslbllltl•¥ and b*g1s of report As the trustees of the charity you are responsi￿• for the preparattyx of the financkql statements in xc0rd￿8 %Mth th• requirements ofthe Charili88 Acl 2011. I report Sn respect of my exomlndm of tho ¢harity'8 finar#Jal 8tat*norts wiod +>Jt undw 8eCt[c￿ 145 of the Chantie6 Act 2011. In cafryiTh3 Out my 8xamination I havè folltrAYd the Direction8 gfven by the Charity Commission under 8ection 145151(bl of the Charilie8Act 2011. Ind•ynd•nt èx*mln•rf$ #tst•m•nt I have completed my examination. I confimi matt•r8 h8¥• eom• to my s￿￿￿ofi in Connect￿7n Iwth the exgminalion giving me cau88 lo believo that In any matenal r8¥¢tt accounknng records V•*re not kept in fe8F•Ct of the chanty as required by section 130 of the Chtyrities Ad 2011. ffinancial $tslements do nol aC￿d those records., or the financial stst8manl8 do not compty t**th the applkabl8 r8wlrem8nts corwnlng thè fom and content of flnanclal statements sat out In the Charllies (h£C￿nts and Repthtsl Regulab'on8 2008 other than any requlremenl that the financlal statements give a true and fair view, vthich 1$ rKJl a mattor consld8Yed as part ol an Independent examination. I have no conc4ms and havo como •¢ro88 no othw m8ttor8 In e4Y)nxtth with tINry examin•tk)n to whlch att8nUon 8hould be drawn In th18 rewl h order to onaL4e a proFW u￿1&r3￿ndlrq of the finanLial stslement8 to be reachèd. Mr J Yarrow FCA Indep￿dent examlmr Allen Sykm Audlt Llmbt•d S Henson Clo South Church EnlerKYi8e Park Bishop Aud(land Co Durham DL14 6WA Dated.. ¢*4 ￿ ro> CTJ Ln C* U> •*4t (r r) •*f TEESDALE AND CLEVELAND AREA MEETING OF THE REUGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN AS AT 3f DECEPABER 2024 2023 816. 808.599 587,271 17 1.393,3Sg 1.395,870 4.653 328.863 314.851 321.935 333.518 1• (1.758) (11,242) 314.179 322274 1.707.538 1,718,144 Tr• fund¥ Gh•rfty 1.164.49J 82.024 481.019 1,101.328 80,317 456.499 21 1.707,538 1,718,144 TEESDALE AND CLEVELAND AREA MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Ac¢ountlng pollclo• Charlty Informatlon Teesdale and ClevelarKI Area Meeting orTr Rdigious Swety of Friends (Quakers) in Britsin ¢s a Charital￿e In¢orporalod Organisalion (CIO) regisler•Y the Charity Commission in and KÈl8S. 1.1 Accountlng conventlon The financial statements have been preparnd In accordance *iih the Charitses Act 2011, FRS 102 'T Finar￿101 Reporling Slandard applicab￿ in thg UK and Republic of IreLgrKI' I"FRS 102.1 and the Charitie8 SORP 'Accounling and Rep)rtlng by Chanties.. Statement of Recommended Pr8Ctice applicoblo lo charitie8 proparlng I￿1r accounts in aCc￿￿nCe wilh the Finanoal Rewting Stsndafd applicat4e in tho UK and Republic of Ireland IFRS 102)" (offocaive 1 Jonuwy 2019). T1￿ charity is a Publ￿ Benefit Entity as defingd by FRS 102 Thg charity ha8 taken advantage ot the provlsians In the SORP for c*￿1188 not to preparg 8 Stalwnent of Cash How5. The financial statements are prepared in sterliryJ, is the functional ujrrnncy of the charfty. Mone 8mount8 in these financiJ stat8menls ar8 roundeA to the ne8re8t £. The financi818tstements have been prepared urKler the histor￿1 cost ConVenU￿, modifi8d to indude the revaluati¢￿ of ¢ert4in fin8r*A•l instruments at tsir Value. The priwpal accountirvJ Pol￿e$ adopt&J arg sgt tyjt bolow. 1.2 Golng Gonc•rn At thè limé of approving th¢ finarool statements, trust8￿ have a r8a8on8bl8 expectation that the charty has adequate reyourc88 to continu8 in op8ratK>nal ex1ster￿a for thg fore89eab￿ ftrture. Thu8 the trLBtee8 ccffitlnu6 to adopt tha gohYJ concam bas1$ of ￿)Un￿n9 In prtyaring the ffinandal 8tstements. 1.3 Charllabh fund• Unre$lri¢ted fvnd8 aro av8¥able for at the d18crelicm of the trustee6 in lurtherance of thelr cha￿ta￿e objeKtwes. Re8tricted funds we sut4.ed to spe¢ffi¢ ¢(￿1rtiOnS by dow ¢x granlors as to they may b• us•d. T purpoee8 and u8es ol the re8tricte(I fuThJ5 are Set the r￿￿e8 to finanoal statements. EndowTngnt funds ar8 su*cl to speafic conditp)ns by domrs that thè c￿￿1 must be maintainod by th charity. IA Incom• Income 18 recogni$￿ when t￿ tharity is legally enlitl8d to il after any p9rtornanco condrflons have been me( the 8fflc￿nts can be measured reliably, and rt is wobatAa that incc¥ne will b8 wgived. C8sh donation$ are recognised on receipt. Other donalons are recognLged once the charlty has been nolffled of the donation, unless performance C￿￿￿10n$ require deferral of the amount. Income tsx recov8rable In relation to donab'ons received urthr GiftAid ￿ deeds of covenant is recognksed at the time of Ihe donthn. Legaaes are recognised M ￿1p1 or Other￿Se kf Ihe charity has b8en Th)tifi8d of ￿ impending distrthtion, the amount is known, rec*pt 18 exr*ded. 11 the amount Is not kntrI￿. Ihe legacy is treated a8 a contingent assd. TEESDALE AND CLEVELAND AREA MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 A¢counling pollcl {Conllnuod 1.6 Ewndttur• Exp8ndltur8 Is reccgnised once there 18 a legal lx construthe oblwion to transfer econom￿ beneffl to third party, il is prOba1￿e that a transfer of ecc¥Kx))ic beneffts *fjll be r¢quired In settlement, and the wnount of the ot4igabon can be measured rdiabty. ExperKliturg 18 cla861f￿ by actlvlty. The ccAts of each ¥tivty a￿ made up of lh8 total of dirf co818 and shar8d costs, induding supwt costs invofved in undertaking each activty. Direct costs allributabl& lo a single acti￿ty are allocated diredly to that activty. Shared eosts Ithich contribute lo mor8 than one acllvity and supwt costs whlch are not attrIt￿ble to a Sing￿ actNity ar8 apwb.oned befv￿ thos8 activftiès on a bg8i9 onsl¥lent wlth the u80 ol resoufces. Cantral staff costs are dlc¢ated cm the bas￿ of time sp8nl, and depre¢iab"on tharge8 arg 411¢)cated on the porticffi of the asseY$ u8a. 1.6 Tanglbl• flx•d amets T8ngibla fix8d assels ar• Initially moaswed ot CO818nd wbiequentty mèasured at L¥)81 or valuation. net of depreciauon and any impaim)ènl1055es. Deprecl8Won IJ re¢ogn188d so a8 to WTlte off the cost c* valuation of a88ets less ttKir resldual Y8lue8 over tholr U60fiJl Ilves on ts follch¥lTrJ ba808'. Freehold18nd and builthrys 1% & 10% straight Ilne The gain or108s arfsing on ￿ dispo8￿ of an 88881 Is dete￿in￿￿ as ts dlfference be￿￿On th8 $alè prc¢oed$ and the cgtyng value of the a88et. and 15 fgcc¥3nised In the ststement of finan￿al actlvllles. 1.7 Flx•d Invo8tmonts FIx8d asset investmènts are iThtialy measur•J •t tran8actson price exdudlThJ transactlon costs. and are $ubsequ8ntly measured at fair value at each rep￿.ng da¢8. Charys in falf valu8 are rocL>Jnised In n8t in¢omallexpendrturel for the year. Transacthn costs are expens&l as incurred. 1.8 Impolmxnt of fix•d au•ts At each reportirwJ end date, the clwity revths the Carr￿ry &yn¢yJnts of its tanglble 8ssets lo d•t&mln• whelhgr there Is any indication that those assets have 8uffered an impaimi8nt loss. If any 8uch indication exist¥, the recoverable ￿)Unt of ts 888et is estwnated in ￿￿Or to detemiine the exlent of th& impaimient 1085 (rf any). 1.9 Cash and c*sh equlvalonts Cash and ca8h equivalerrts cash in hand. deposits hebd at call wlth banks, other short4emi liquld imiestsnents wih oruinal maturikne5 of three month8 or kss. and bank overdrafts. Bank overdrafts are ¥h¢)wn within Iy)ry¢￿I￿8 in raThnt lia1￿11￿eS. 1.10 Flnanclal In8trumont8 The charty has elected to ap￿Y Ihe provi8K)ns of Se￿￿￿ 11 'Basic Finanual Irthments, and Se¢tlon 12 'Other Financial Instruments Is8ue8' of FRS 102 to all of its ffinanci81 instruments. Finanrlal instruments are recognised in the ch•rW8 bal8nGe strtht when the charity become8 P8rty to the contractual ky0vi￿on5 of Ihe instrumthrt. 10- TEESDALE AND CLEVELAND AREA MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 A¢¢ountlng pollGI (Contlnugdl 8•slc Ilnanclal essots Bask finan¢lal assets, bythlch indLth tsbtors arKI cash arKI bank balances, are initially measured at tranSa¢b.￿ price induding transa￿1￿ ¢osts and aro sth8equéntty c8nl8d at amortls&J c081 using the effective interg81 molhod un￿5 the arrangement constitutes a finanung transacli¢)n. the transaction is mèasured at the present value of the fijture recèipts di￿nted at a market rnte of Interest. Flngncial assets 18ssffjed as receiv8lJe within one year are amtytBed. Baslc Ilnanclal Ilabllltles Basic financi81 lialj'lities. includirvj crvjith JrKI bank bans aré iniiialty recc¥Jn18ed at tranSactb￿ Fxlce unless the arrangement conslrtutes a fin9￿Ing Iran¥¥d￿n. kn the debt instrument is measuf8d at Ihe pr8s8nt value of tha frjture payThanl8 discount￿j 8t a mwkel ralo of mt•r•81. Fin4rKa•l lia￿libal das8if*d as payatl• wlthln on¢ ygar arè not amOrtI￿1. Trad¢ ¢Y•dIt￿ are obl&otbon8 to pfiy lor gc￿l or 88r¥lce8 that have been acqu1￿￿ In the ordlnwy course of Q￿ra￿.9nS from suppliors. Amounts payab￿ are cl88sffi8d as current liabllib"8s rf payment is due within o y•ar or lo8¥. If nol. they kywrrted as non 7,975 {1,2841 481,019 Provlous y•ar: At 1 Janu•ry Incomlng Resources 2023 rewurc •xwnded Tr•n$for• Galn• and lo•$e8 At31 D•c•mb•r 2023 O$motherfey Building FurKI Cother8tone Cottages Trust Gen6ral funds 18.759 16,759 38.619 146.872 36.619 403,121 376,143 1130.125) 7.140 9.091 392.902 183,491 1136,125) 7.140 9,091 456.499 Purpo80 of d••lgn•tod funds 08molhedey ￿1111￿ Fund - Unre8trlLted incorm h•kl to bg lo ftjnd expenditure cffi 08molhedey meellng house. Cotherstone Cottages Trust - Unrestricted income held to be usgj for the purpose of ralieving naod of any individual friend, particularty those resding Sn Co￿r$tone. 19- TEESDALE AND CLEVELAND AREA MEETING OF THE RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) IN BRITAIN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 23 Analysls ol n•t aa8•ts bet*wn funds Unrnljlctod RMtricted Endo*Th•nt funds funds 2024 2024 Total 2024 2024 At 31 D•cemb•r 2024: Tangible 8s$6ts Investmont¥ Current a888ts1{li•t41rt1es) .395 138.469 252,155 726.000 438,495 816.395 576.964 314,179 62,024 481.019 62,024 1.164,495 1,707.538 Unr••trktsd ROStrkt￿ ertdowm￿t funds funds 2023 2023 Tolal 2023 2023 At 31 Doc•mb•r 2023: Tangible as88ts lrnie81ments Current aSset￿{lIa￿lml￿fj1 73,599 140,943 241,957 735,000 446.328 808.599 $87,271 322.274 80.317 456,499 80,317 1,181,328 1,718,144 24 R•l•tsd party Ir•nuctlons Thgre were di8closabie related pwty trnn8athon$ duriTrJ yo¥ {2023. none). -20-