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2020-12-31-accounts

Charity Number:1186058

Hampshire & Islands Area Quaker Meeting

Annual Report and Financial Statements

for the year ended 31 December 2020

Hampshire and Islands Area Quaker Meeting for the year ending 31st December 2020

Index to the Annual Report and Accounts for the year ended 31 December 2020

Reference and Administrative Details 1

Trustees’ Report 2-4

Financial Review 5-6

Responsibility of the of General Committee 7

Report of the Independent Examiner 8

Statement of Financial Activities 9

Balance Sheet 10

Cash flow statement 11

Notes to the cash flow statement 12

Notes to the financial statements 13-20

Hampshire and Islands Area Quaker Meeting for the year ending 31st December 2020 Reference and administration details

Registered Address

Hampshire and Islands Area Quaker Meeting

c/o Friends Meeting House, 1a Ordnance Road, Southampton SO15 2AZ

Constituent Meetings

The Area Meeting comprises eleven constituent meetings in:

Alderney, Alton, Andover, Basingstoke, Guernsey, Hythe, Jersey, Isle of Wight, Portsmouth, Southampton and Winchester. Hythe is included with Southampton for accounting purposes.

The following meetings also maintain meeting houses:

Alton, Basingstoke, Guernsey, Jersey, Portsmouth, Southampton and Winchester. Addresses are given in Note 10. There are also burial grounds in Alton and Southampton.

Officers of the Area Meeting

Clerk: David Lewis (Portsmouth) Treasurer: Nicola Jane Bennett (Winchester) Clerk to General Committee of Charity Trustees: Stuart Donnan (Southampton)

Members of the General Committee of Charity Trustees serving during 2020 and up to the date of this report

Nicola Jane Bennett (Winchester) ex-officio as Area Meeting Treasurer up to 31 December 2020, then in a personal capacity Catherine Brown (Southampton) up to 31 December 2020 sara coote (Portsmouth) Marilyn Cox (Hythe) Bruce Deane (Jersey) up to 11 September 2021 Stuart Donnan (Southampton) Clerk David Lewis (Portsmouth) ex officio as Area Meeting Clerk up to 30 April 2021 Patricia Roscoe (Southampton) ex officio as Area Meeting Safeguarding Officer Diana Vennis (Southampton) up to 16 May 2020

Bankers

CAF Bank Ltd, Kings Hill, West Malling, Kent ME9 4TA

Investment Advisers

Ethical Investors Group, Montpellier House, 47 Rodney Road, Cheltenham GL50 1HX

Holding Trustee

Friends Trusts Limited, Friends House, 173 Euston Road, London NW1 2BJ (Registered Charity 237698)

Examiner

Kennedy Legg, Stafford House, 10 Prince of Wales Rd, Dorchester DT1 1PW

1

Hampshire and Islands Area Quaker Meeting for the year ending 31st December 2020 Trustees’ Report

Structure, governance and management

The affairs of the Area Meeting are governed by "Quaker Faith and Practice", the Book of Discipline of Britain Yearly Meeting (BYM). The Area Meeting was entered in the Register of Charities as a Charitable Incorporated Organisation - Association, registered number 1186058 on 30 October 2019. The Members of the Area Meeting are all those persons whose names are for the time being recorded in its official register.

The Area Meeting is a CIO which is governed by its constitution adopted on 14 September 2019.

The General Committee of charity trustees are appointed by the Area Meeting, normally for three years, after which they may be re- appointed for two further terms. New members of the General Committee are offered training at Woodbrooke, the Quaker Study Centre in Birmingham. Local Meetings conduct their own business meetings and manage their own affairs.

The Area Meeting also nominated one member and one alternate to serve on Meeting for Sufferings, the executive body of the national Yearly Meeting of the Religious Society of Friends.

Objectives and activities

The object of the Area Meeting is the furtherance of the general religious and charitable purposes of the Religious Society of Friends (Quakers) in Britain, in the area of Hampshire and Islands Meeting and beyond. The principal activity is the holding of meetings for worship in the constituent local Meetings. The Area Meeting meets the public benefit test of the Charity Commission by providing facilities to support its activities, including the provision of places of worship that are open to the public. The General Committee of charity trustees confirm that they have complied with the requirements of Section 4 of the Charities Act 2011, to have due regard to the public benefit guidance published by the Charity Commission for England & Wales

The Area Meeting which meets regularly during the year is the primary meeting for church affairs in Hampshire and Islands. Its role is to develop and maintain a community of Friends, a family of local meetings in which Friends gather for worship and spiritual enrichment. It provides a balance between worship, mutual support, administration, learning, deliberation and social life and builds up the spiritual life of its members.

The Area Meeting acts as a facilitator and co-ordinator, ensuring that the constituent local meetings have access to opportunities for fellowship, spiritual development, and spiritual and pastoral care, including the care of children and young people. It also provides mutual support through the shared testing of concerns.

In order to provide the required support to local meetings, the Area Meeting arranges for:

2

The Report of the General Committee of charity trustees for 2020

These are the first accounts and annual report submitted to the Charity Commission for Hampshire and Islands Area Quaker Meeting, an associated Charitable Incorporated Organisation registered number 1186058 on 30 October 2019. All assets of the unincorporated charity 1134213 were vested in the CIO from 31 December 2019. The unincorporated charity 1134213 was dissolved by a resolution of Area Meeting in session on 8 May 2021 in accordance with its governing document, following submission of the 2019 accounts for unincorporated charity.

The CIO appointed a General Committee to act as charity trustees of Hampshire and Islands Area Quaker Meeting in accordance with its constitution which established the Area Meeting as a legal entity which role no longer falls on the charity trustees.

The role of the General Committee falls into two parts. First, as charity trustees the members of the General Committee act as representatives of the charity in all communications with the Charity Commission, and as an intermediary between the Area Meeting and the Charity Commission. Second, the General Committee is appointed by Area Meeting to act, as directed, on its behalf in matters relating to finance and to property, and to matters of human resources. Such activities play an important part in supporting and maintaining the spiritual and social activities of Area Meeting and its constituent local meetings.

The approach acknowledges how in practice most local meetings take day-to-day responsibility for their finances and premises, as well as the spiritual and social aspects of their meetings. Local meetings will be assisted in this by the guidance contained in Quaker Faith & Practice , Area Meeting policy documents, and Memorandum of Understanding documents, as well as advice from Britain Yearly Meeting and others. The different groups within Area Meeting General Committee will work with local meetings as requested, especially but not solely those with meeting houses. Local meetings will be encouraged to use paid assistance for administration and other more specialist matters if necessary. In order to maintain simpler structures, both local meetings and Area Meeting would be encouraged to use short-term working groups to address specific issues. For all these local and area responsibilities, Area Meeting would ensure that funds are available to support training which may be relevant to short-term working groups as much as more established committees.

The General Committee met eight times during 2020; all except the first meeting in January were held by videoconferencing because of the Covid-19 lockdown.

Notable matters considered included risk assessments related to the opening of meeting houses for meetings for worship and for hiring, as the Covid lockdown was introduced and then was eased for a time. Local meetings shared their experiences. Most meetings managed to maintain contact with members and attenders using videoconferencing, with some meetings managing to develop ‘blended’ videoconferencing with some participants at home and some in the meeting place.

Safeguarding was also considered at length, in relation to vulnerable adults as well as to children. Lengthy discussions were held concerning the relevance and importance of DBS checks. These and other relevant matters were brought to the full Area Meeting sessions for discussion and decision by members.

Area Meeting met in February 2020 face to face, and then five further times up to December 2020 by videoconferencing. Notable matters of discussion and decision included the following.

3

Should Area Meeting use court procedures to recover rent arrears? General Committee asked whether our historic reluctance to ‘contend at law’ should be extended to the use of courts to reclaim arrears of rent. It was agreed that our normal practice would be to maintain good relationships and communication between landlords and tenants to avoid serous disagreement. After discernment members came to understand that having the option of using the courts should be retained for use in exceptional circumstances.

Opening our Meeting Houses for Worship: Area Meeting and local meetings shared information and regular reviews of risk. All meetings were encouraged keep members and attenders fully informed about the current local situations, and to update their webpages with information about their intentions.

McBain fund – change to those eligible for support: With the agreement of the Charity Commission the purpose of the McBain legacy fund was broadened to relieve regular attenders as well as members of the Society of Friends who are in conditions of need, hardship or distress. Area Meeting agreed that for both members and regular attenders a covering letter will be requested from their local meeting to confirm their relationship with the meeting.

Sustainability in Area Meeting: The Quaker Stewardship Committee of Britain Yearly Meeting have asked each Area Meeting to include a section on Sustainability in the yearly report to the Charity Commission. We have been rather slow but at the November meeting a small group were set up who have produced a lengthy report in mid-2021. This and subsequent action will be reported on next year.

4

Financial review

The Statement of Financial Activities of the Area Meeting includes the funds of our eleven Local Meetings, the McBain Trust and the Hewland Fund.

The funds held by the Area Meeting at 31 December 2020 amounted to £2,697,444. The increase is mostly due to a gain in value for our investments. For 2020 the expenditure was down on the previous year, which was influenced by the COVID-19 restrictions on meeting and travel. The total income was also less than the previous year for the same reason, which limited our hiring income. The total value of investments has gone up. Further details are shown within the accounts and the notes attached to the accounts.

Local meeting (LM) restricted funds (legacies and trusts) are shown separately to Area Meeting (AM) restricted funds, but the funds investments may be managed by AM. There are various LM legacies and funds which are designated for the use of the Local Meeting. Local Meeting general funds are shown as unrestricted, but are designated funds of the Area Meeting. More information about local funds can be obtained from the Treasurers of local meetings.

The amount of local funds and the funds administered by the Area Meeting as at 31 December in recent years are indicated in the chart below.

----- Start of picture text -----
3000000
2500000
2000000 1,388,583
1,420,000
1500000 LM funds
AM funds
1000000
1,201,000
760,000 850,700
679,000 1,241,000 1,308,861
500000
329,000 347,000 340,000 297,000
0
2015 2016 2017 2018 2019 2020
----- End of picture text -----

The split between funds at 31 December 2020 is shown in the table below.

----- Start of picture text -----
Type of fund Amount £000
Restricted, AM 200
Restricted, LM 28
Unrestricted, AM 1081
Designated LM 873
Unrestricted LM 515
TOTAL 2697
----- End of picture text -----

Most of the income required by the Area Meeting for general purposes is contributed by local meetings. This is based on the number of members in each Meeting. At 31 December 2019 the membership of the Area Meeting comprised 278 (295 in 2019) members, 179 (189) attenders and 34 (39) children associated with meetings.

5

As our membership ages and declines we will receive less income from local meetings, but when the pandemic passes we should continue to receive good income from room hirings and properties let to tenants. The financial position at year end is satisfactory and the charity is a going concern. However the Trustees should continue to monitor income and expenditure, and report to Area Meeting if changes need to be considered in the management of our finances.

Risk and reserves

The Finance Committee has continued to monitor the risks and reserves. The main risk to the Area Meeting is that the membership declines to an extent that the members are unable to make a substantial contribution to the costs, especially the costs of maintaining property. While the aim is that opportunities for lettings are fully exploited there remains the possibility that property could be sold within the restrictions set out in the Charity Commission Scheme of 4 April 2018. In addition to the reserves held within the Area Meeting (and its constituent Local Quaker Meetings) there are substantial amounts invested or deposited from legacies left to the Area Meeting over many years. Area Meeting and its constituent meetings are continuing to consider and plan how these funds in excess of formal reserves can be used in an appropriate manner according to the criteria of the charity.

Investments

The policy on investments continues under review. The aim is to make funds available when required by considering the income and expenditure of the Area Meeting. Some funds are consequently invested with a view to capital growth and income generation with a minimum of risk. Our investments are reviewed periodically with the assistance of our Investment Advisers and allowing for ethical considerations.

Note concerning the implications for subsequent years of the changes in activity caused by Covid-19 during 2020

There is a risk of losing the £20,000 deposit lodged with the Quay Arts Centre in the Isle of Wight if that organisation closes permanently due to the pandemic, although it has been able to reopen in 2021. Our own hirings have been able to restart in a limited system, and we have been able to find tenants for most of our properties. Our substantial reserves and other investments, enable trustees to be confident that the financial position of Area Meeting will not be threatened in the near future. However, trustees will keep the issue under regular review.

6

DECLARATION

Responsibility Statement of the General Committee of charity trustees

The General Committee of charity trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & 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 of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and 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 trust deed. They 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.

Signed on behalf of the charity's trustees

Nicola Jane Bennett, Treasurer

Stuart Donnan, Clerk of the General Committee of charity trustees

7

Independent Examiners Report to the Trustees of Hampshire & Islands Area Quaker Meeting

I report to the charity trustees on my examination of the accounts of the Charity for the year ended 31 December 2020, which are set out on pages 10 - 21.

Respective Responsibilities of Trustees and Examiner

As the charity`s trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act").

I report in respect of my examination of the accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent Examiner's Statement

I have completed my examination. I confirm that no material matters has come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Mr P S Wellspring FCCA

Kennedy Legg Stafford House, 10 Prince of Wales Road Dorchester DT1 1PW

Date: 05 November 2021

8

Hampshire & Islands Area Quaker Meeting

Statement of Financial Activities (including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) for the year ended 31st December 2020

Note
Income and endowments from:
Donations and legacies
3
Income from rents at Winchester Meeting, which is run
as a housing project
Other trading activities
4
Income from Investments
5
Total income and endowments
Expenditure on:
Raising funds
6
Charitable activities
7
Other expenditure
8
Total expenditure
Net income before investment movements
Gains/(losses) on investments in the year
11
Net income/(expenditure) before transfers
Transfer between funds
18
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
18		 Unrestricted
funds
£
128,753
35,086
27,323
45,948
237,110
65,053
201,465
-
266,518
(29,408)
66,835
37,427
37,427
2,431,595
2,469,022		 Restricted
funds
£
5,000
-
-
1,613
6,613
4,024
11,081
-
15,105
(8,492)
7,092
(1,400)
(1,400)
229,822
228,422		 Total
Funds
2020
£
133,753
35,086
27,323
47,561
243,723
69,077
212,546
-
281,623
(37,900)
73,927
36,027
-
36,027
2,661,417
2,697,444		 Total
Funds
2019
£
380,701
30,883
53,375
49,184
514,143
90,528
232,773
308
323,609
190,534
972,741
1,163,275
-
1,163,275
1,498,142
2,661,417

All of the Charity's activities derive from continuing operations during the above period.

9

Hampshire & Islands Area Quaker Meeting

(Registration number: 1186058)

Balance Sheet

As at 31 December 2020

Note
Fixed Assets
Heritage assets
10
Investments
11
Current Assets
Debtors
12
Cash at bank and in hand
Current liabilities
Amounts falling due within one year
13
Net current assets
Total assets less current liabilities
Represented by:
Funds:
Restricted funds
18
Unrestricted funds, including Designated funds
18
Total funds		 £
£
-
1,710,388
1,710,388
27,441
963,531
990,972
(3,916)
987,056
2,697,444
228,422
2,469,022
2,697,444
2020		 £
£
-
1,685,057
1,685,057
32,269
947,868
980,137
(3,776)
976,361
2,661,418
229,822
2,431,596
2,661,418
2019

For the financial year ending 31 December 2020 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Trustees' responsibilities:

These accounts have been prepared in accordance with the provisions applicable to copmanies subject to the small companies regime.

The notes on pages 14 to 21 form part of these accounts

The accounts were approved by the board of trustees on …............................................... Signed on their behalf by:

……………………………………………………. Stuart Donnan Trustee

10

Hampshire & Islands Area Quaker Meeting

Cash Flow Statement

for the year ended 31st December 2020

Notes
Cash flows from operating activities
Net cash generated from operations
1
Cash flows from investing activities
Dividends, interest and rents from investments
Proceeds from the sale of investments
Purchase of investments
Transfer from investments to bank
Net cash provided by (used in) investing activities
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting period
Cash and cash equivalents at the end of the reporting period		 2020
£
(80,492)
47,561
1,100
47,495
96,156
15,664
947,867
963,531		 2019
£
505,545
49,184
6,098
(125,000)
(69,718)
435,827
512,040
947,867

11

Hampshire & Islands Area Quaker Meeting

Notes to the Cash Flow Statements For the year ended 31st December 2020

Reconciliation of net income/(expenditure) to net cash flow from operating activities
Net income/(expenditure) for the reporting period (as per the statement of
financial activities).
Adjustments for :
(Gains)/losses on investments
Dividends, interest and rents from investments
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by (used in) operating activities		 2020
£
36,028
(73,927)
(47,561)
4,828
140
(80,492)		 2019
£
1,163,275
(972,741)
(49,184)
366,525
(2,330)
505,545

12

Hampshire & Islands Area Quaker Meeting

Notes to the financial statements

For the year ended 31st December 2020

1 Accounting policies

General information and basis of accounting

Transfers between the Local Meetings and the Area Meeting are however eliminated from income and expenditure. The financial statements also exclude those donations received by the Area Meeting and Local Meetings, which are paid over to various charities at the donors request - see note 14.

Income recognition

Expenditure

Raising funds - These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

13

Hampshire & Islands Area Quaker Meeting

Notes to the financial statements

For the year ended 31st December 2020

Charitable activities - Charitable expenditure comprises those costs incurred by the Charity in delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Tangible fixed assets

The charity owns a number of functional properties comprising Meeting Houses, wardens’ accommodation and their contents, and other buildings used by the charity including burial grounds. These properties are held in perpetuity for Meetings for Worship or other charitable activities, and contribute to the furtherance of Hampshire and Islands Area Quaker Meeting’s charitable objectives and are considered to be heritage assets under FRS 102.

Meeting Houses and other buildings

There is £nil cost and £nil accumulated depreciation recognised for these heritage assets, as allowable under Section 18 of FRS 102. Whilst it is believed that the market value, both at the time of acquisition and at the balance sheet date, was significantly in excess of £nil deemed cost and net book value, it is not possible to obtain a reliable estimate of the market value at either date. Conventional valuation techniques are not appropriate for the unique and historical nature of the assets.

Contents of Meeting Houses

The contents of Meeting Houses have also been recognised at £nil cost and £nil accumulated depreciation as it is impracticable and an inefficient use of the charity’s resources to value the specific items in the following categories: pianos, Quaker artwork, library books and other contents.

Burial Grounds

In view of the costs and difficulties in the disinterment and removal of human remains, the market value of such sites is minimal. For valuation purposes they are therefore assessed at £nil value.

Investments

Debtors

Debtors are recognised at the settlement amount after any trade discounts offered and any appropriate allowance for irrecoverable amounts. Prepayments are valued at the amount paid in advance for goods and services provided to the charity.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Creditors

Creditors are stated at the original invoiced amounts.

Income from financial instruments

Fund accounting policy

Unrestricted income funds are general funds that are available for use at the Trustee's discretion in the furtherance of the objectives of the charity.

14

Hampshire & Islands Area Quaker Meeting

Notes to the financial statements

For the year ended 31st December 2020

Restricted funds are those donated for the use in a particular area or for specific purposes, the use of which is restricted to the that area or purpose.

2 Taxation

3 Donations and legacies
Donations (Inc. gift aid)
Legacies & gifts
4 Other trading activities
Meeting house hiring's
Other income (Inc. Residential Weekends)
5 Income from Investments
Interest and dividends received
Rents from Investment Properties
6 Raising funds
Maintenance to investment properties
Support costs (see 7a)
Letting agents fees
Investment management costs		 Unrestricted
funds
92,287
36,466
128,753
19,286
8,037
27,323
5,503
40,445
45,948
4,088
57,057
1,337
2,571
65,053		 Restricted
funds
-
5,000
5,000
-
-
-
1,613
-
1,613
-
4,024
-
-
4,024		 2020
£
92,287
41,466
133,753
19,286
8,037
27,323
7,116
40,445
47,561
4,088
61,081
1,337
2,571
69,077		 2019
£
124,152
256,549
380,701
48,698
4,677
53,375
13,254
35,930
49,184
8,329
61,555
14,225
6,419
90,528

15

Hampshire & Islands Area Quaker Meeting

Notes to the financial statements For the year ended 31st December 2020

7 Charitable activities
Quaker Activities
BYM Contribution
Other Donations - Quaker charities
Grants to individuals
Other Donations - non-Quaker charities
Training and conferences
Meeting attendances
Printing, Postage & Stationery
Outreach
Administration
Meeting support costs (Inc. Residential Weekend)
Meeting support costs (see 7a)		 Unrestricted
funds
52,806
19,488
162
35,307
1,699
736
1,312
2,991
-
1,379
85,585
201,465		 Restricted
funds
-
-
5,045
-
-
-
-
-
-
-
6,036
11,081		 2020
£
52,806
19,488
5,207
35,307
1,699
736
1,312
2,991
-
1,379
91,621
212,546		 2019
£
59,607
17,976
4,017
33,135
7,241
5,810
239
3,848
1,273
7,294
92,333
232,773

7 (a) Support costs

The following support costs and Governance costs are allocated between Raising funds (40%) and Quaker activities (60%) basis.

Meeting house and governance costs
Insurance
Repairs & Maintenance costs
Utilities
Wages (Including pension contributions)
Other support costs
Governance costs
Independent examiners costs
Bookkeeping fees
Administration costs
Trustees expenses
Raising funds - 40% (note 6)
Quaker activity - 60% (note 7)
8 Other expenditure
Bank charges		 Unrestricted
funds
7,883
78,748
20,818
24,314
2,490
6,506
1,883
142,642
57,057
85,585
-		 Restricted
funds
10,000
60
10,060
4,024
6,036
-
-		 2020
£
7,883
88,748
20,818
24,314
-
2,490
6,506
1,943
-
152,702
£61,081
£91,621
-
-		 2019
£
7,427
76,978
23,288
30,074
4,007
7,644
3,925
375
171
153,889
£61,555
£92,333
308
308

9 Staff costs

No employee received emoluments at a rate in excess of £60,000 during the year (2019 - Nil).

The average number of employees for the year was 4 (2019 - 4) being part time staff.

16

Hampshire & Islands Area Quaker Meeting

Notes to the financial statements For the year ended 31st December 2020

10 Heritage assets

As described in the accounting policies note, there is a cost and accumulated depreciation of £nil for the Meeting Houses and wardens’ accommodation owned and used by the charity for Worship and charity activities. The buildings are maintained by the charity for their contribution to knowledge and culture of the Quaker faith. It would be impracticable and an inefficient use of the charity’s funds to obtain market valuations for such unique assets and their contents. A description of each of the assets is given below, together with the year in which each Meeting House was constructed. On the basis of the age of the properties, had the original costs been capitalised, the Trustees consider that the assets would have been fully depreciated at the balance sheet date. No reliable information exists to include original cost and accumulated depreciation amounts.

Build
The charity is the beneficial owner of the following heritage asset properties:
Year
Meeting House and Burial Ground, 39 Church Street, Alton, Hants GU34 2DA.
1672
Meeting House, 14 Fairfield's Road, Basingstoke, Hants RG21 3DR
c1900
Meeting House, Clifton, St. Peter Port, Guernsey GY1 2PH
1811
Meeting House, 71 Colomberie, St. Helier, Jersey JE2 4QA
1872
Meeting House, 25 Northwood Road, Portsmouth PO2 9QT
1931
Meeting House, 1a Ordnance Road, Southampton SO15 2AZ
1884
Burial Ground, Brighton Road,The Avenue, Southampton SO15 2JL
1662
Meeting House, 16 Colebrook Street, Winchester, Hants SO23 9LH
1773
Total insured Value(excluding investment properties)		 Buildings
Contents
1,082,276
51,459
419,221
20,572
523,949
12,743
774,015
23,815
640,531
38,392
768,571
41,265
55,898
1,478
1,576,978
76,801
5,841,439
266,525
Insurance valuations

There is also a contents value of £13,716 for the furniture and equipment held by the Isle of Wight Local Meeting at The Rope Store, Quay Arts Centre, Sea Street, Newport, Isle of Wight PO30 5BD.

The titles to all of the properties owned by the charity are held by Friends Trust Ltd as Nominee, with strict restrictions on disposal of the freehold, which requires authorisation by an order of the court.

11 Investments
Balance brought forward
Recognised in the year
Transfer between asset classes
Net income reinvested
Transferred to current assets
Disposal of investment
Balance carried forward
Unrealised gains/(losses) at the
year end.		 Other
10,000
-
(10,000)
-
-
-
-		 Investment
property
985,400
-
-
-
-
985,400		 Unlisted
Investment
48,595
-
10,000
-
(47,495)
(1,100)
10,000		 Listed
Investments
641,062
-
-
-
73,926
714,988		 2020
£
1,685,057
-
-
-
(47,495)
(1,100)
73,926
1,710,388		 2019
£
593,414
985,400
-
-
(6,098)
112,341
1,685,057

The listed investments are held in a diversified portfolio of unit trusts, as agreed with our advisors, Ethical Investors Group.

The unlisted investments are managed by Local Meeting Treasurers

All investments are held within the UK

The Trustees have reviewed their property portfolio. It was decided that the rents of the six income producing properties held by the Area Meeting would not increase in 2020. The properties are: Flat and Studio Flat, Alton MH; Flat, Basingstoke MH; Flat and Cottage, Portsmouth MH; and Cottage, Southampton MH. The investment value of these properties remains the same as in 2019 - £860,400. A one seventh share in a property (La Chasse), which cannot be realized at present, bequeathed to Jersey LM, has a current estimated value of £125,000 and this amount has been added to the value of Investment property.

17

Hampshire & Islands Area Quaker Meeting

Notes to the financial statements For the year ended 31st December 2020

12 Debtors - due within one year
Debtors
Other debtors - deposit on hall
13 Creditors
Creditors
PAYE
Accruals
Acting as Agents - See note 14
14
Creditor c/f - see note 13
Acting as Agents
Creditor b/f
Received during the year
Expended during the year		 Unrestricted
7,441
-
7,441		 Restricted
-
20,000
20,000		 2020
£
7,441
20,000
27,441
2020
£
2,425
-
-
1,491
3,916
2020
£
3,237
3,209
(4,955)
1,491		 2019
£
12,269
20,000
32,269
2019
£
539
-
-
3,237
3,776
2019
£
2,813
5,223
(4,799)
3,237

15 Related parties

Controlling entity

No Trustee, or any persons connected with them, have received any remuneration from the charity during the year. (2019 Nil).

Expenses were paid to one trustee during the year amounted to £0 (2019 - £178) in respect of travelling costs etc.

16 Reconciliation of movement in funds
Opening funds at 1 January 2020
Operating surplus/(deficit)
Transfers in year
Closing funds at 31 December 2020
17 Analysis of net assets between funds
Fixed Assets
Current assets
Current liabilities		 Unrestricted
funds
£
2,431,596
37,426
-
2,469,022
Unrestricted
funds
£
1,607,397
920,620
(2,902)
2,525,115		 Restricted
funds
£
229,822
(1,400)
-
228,422
Restricted
funds
£
151,283
21,046
-
172,329		 Total
Funds
£
2,661,418
36,026
-
2,697,444
Total
Funds
£
1,758,680
941,666
(2,902)
2,697,444

18

Hampshire & Islands Area Quaker Meeting

Notes to the financial statements For the year ended 31st December 2020

18 Summary of funds
Restricted funds
AM Building Fund
AM Loan Fund (Dorothy Searle Legacy)
McBain Trust
IOW Hewland Fund
IOW Building Fund
IOW Legacy Fund
Alderney Trust
Alton Building Fund
Designated funds
Alice Southwell Legacy (Basingstoke)
Claire Smith Legacy (Basingstoke)
Guernsey Legacy Fund
Joyce Warwick Fund (Portsmouth)
Anne Parmeter Legacy (Jersey)
La Chasse (Jersey)
Administered by Area on behalf of LM's:
Peggy Jackson Legacy (Southampton)
Patrick Nott Legacy (IOW)
Unrestricted funds
AM General Fund
AM Property Fund
AM Prison Ministry Fund
Local Meetings
Alderney
Alton
Andover
Basingstoke
Guernsey
Isle of Wight
Jersey
Portsmouth
Southampton
Winchester
Total funds		 Opening
funds
54,498
25,414
96,127
22,453
13,870
11,414
1,046
5,000
229,822
5,396
4,351
5,887
5,904
62,455
125,000
273,773
373,052
974,437
68,211
(42)
614
33,568
2,408
22,589
11,438
73,351
35,592
28,403
184,433
140,776
2,431,596
2,661,418		 Incoming
resources
209
209
651
63
272
209
5,000
6,613
4
3
-
-
-
1,893
2,664
1,022
-
2,321
23,310
2,204
10,726
7,584
10,401
5,976
21,137
67,360
80,505
237,110
243,723		 Resources
expended
-
-
(3,635)
(1,470)
-
-
-
(10,000)
(15,105)
-
(192)
-
(221)
-
(32,765)
(14,735)
(6,630)
-
(1,677)
(19,710)
(2,178)
(6,738)
(8,210)
(13,134)
(7,664)
(15,342)
(43,121)
(94,202)
(266,519)
(281,624)		 Transfers,
Gains&losses
544
544
3,645
1,123
692
544
-
-
7,092
(4)
-
-
-
48,282
35,533
20,983
42
-
(1,000)
(7,286)
(1,260)
(6,690)
(2,800)
(4,720)
(7,441)
(6,804)
66,835
73,927		 Closing
funds
55,251
26,167
96,788
22,169
14,834
12,167
1,046
-
228,422
5,396
4,162
5,887
5,683
62,455
125,000
322,055
342,180
997,899
83,586
-
1,258
37,168
1,434
19,291
9,552
63,928
31,104
29,478
201,231
120,275
2,469,022
2,697,444

19 Restricted Funds

These funds are administered by the AM Treasurer and team but may be managed by committee or trusts.

l AM Building Fund was opened in 2009 with the transfer of the balance of the Petersfield Legacies.

l AM Loan Fund (Dorothy Searle Legacy) is for loans to meetings improving or adding to premises.

l Marjorie Frances McBain Trust is for members who are in need, hardship or distress.

l Elise Hewland Fund is for elderly and recuperating residents on the Isle of Wight. The fund is administered by the McBain Trust.

l IoW Building Fund is for loans to meetings improving or adding to premises

l IoW Legacy Fund is for the development of the meeting, particularly in reach and outreach, on the Isle of Wight.

19

Hampshire & Islands Area Quaker Meeting

Notes to the financial statements

For the year ended 31st December 2020

LM Restricted funds

The funds are managed by constituent local Meetings under the terms of the legacy or trust

AM Designated funds

l AM Property Maintenance Fund has been set aside in order to make provision for future expenditure on the maintenance and insurance of Meeting Houses.

LM Designated funds

Guernsey Legacy Fund (Barbara Wright and Pat Hancock) is for the general charitable purposes of the Meeting in Guernsey.

20