REGISTERED CHARITY NUMBER: 1186058 Re￿rt of the Trustee5 Flnanei81 St*tements for the Year Ended 31st December 2023 ror Hampshire & Islands Area Quaker Meeting Sheen Siickland Chartered Accountants 7 Easl Pallanl Chich¢51er West Sussex I￿19 ITR Hampshire & 151ands Area Quaker Meeting Contents of the Financial Statements for the Year Ended 31st December 2023 Page Report of ihe Trllstees Independent Examintr'5 Report Statement of FiDanel#l Aetivities B•18nee Sheet 10 Notes to the Financial stateme￿t5 11 ts) 24 Detailed Statement of Financial Activities 25 10 26 Hampshire & Islands Area Quaker Meeting Report of the Trustees for the Y¢or F.ndtd 31st Deeember 2023 The G¢neral Cornmitt¢¢ of charity trusl¢¢s pr¢s¢nt their reEx)rt with the financial statements of the charity for the year ended 31st December 2023. The G¢nera] Committet have adopted the provisions of Accounting and Reporting by Charilies.. Siatement of Recomtnended Prnctice applicable to charities preparing Ih¢ir accounrs in accordance with the Financial Reporting Standard applirable in the UK and Republic of Ireland {FRS 102) (effective l January 2019). REFERENCE AND ADMINISTRATIVE DETAIIS Registered Charieable Incorporated or&￿nisatiOn nllrnber 1186058 Principal address Friends Meeting Hou5C IA Ordnance Road Southdmpton Hatnpshire S0152AZ Constituent Meetings The Area Meetitig comprises ¢en ¢onstithent Local Meeiings that hav¢ seFAraie accounts in.. Aldemey, Alion, Andover, Basingstok¢, Guernsey. Jersey. Islc of Wight, Portsmouth, Southampton and Winchester. For accowiting purw)ses Hythe Local Mttting and Romsey Worthipping GTOUP are in¢luded with Southampton. and Petersfield Worshipping Group is included with Alion. otrieers of the Area Meeting Ckrk.. David Bartl¢tt1151e of Wighi) Treasurer.. Sheila Peacock (Ba%in8Stoke) C]erk to General Committee of Charity Trnstees= David Bartlett (151¢ of Wight} (see note trKlow in A¢hiev¢ment Perfonnance) Members of the General Committee of Charity Truslees David Bartlett Ilsle of Wight) Clerk to GeDerAI Commitiee sarah coole (Portsmouth) Patricia Jaggard (Isle of Wight) Sh¢ila Peacock {Basingstokc) ex officio as Ar¢a Meetmg Trea5UTrT Marion Penn (Win¢h¢ster) Patricia Roscoe (Southampton) ex officio a5 A￿ Meeting Safeguarding oifior Dorothy Searle {Southampton) Nicholas Wilde {Isl¢ of Wight) (to OctoEer 2023) Ikverley Meeson (Winchester) Independent Examiner Paul Wright FCA DChA Sheen Stickland Lhartered Accountants 7 East Pallant ChÉchesier West Sussex P019 ITR Bankers CAf Bank Ltd Kings Hill West Malling Kent ME9 4'1-A Pdge I Hampshire & Island5 Area Quaker Meeting Report of the Trustees for the Year Ended 3Jst December I1￿3 REFERENCE AND ADMINISTRATIVE DETAIIS Investment Advisors Ethical Investors Group Montpellier House 47 Rodney Road Ch¢li¢nham GL50 IF[x Holding Trustee Friend5 T￿SIS LimEied Friends Hous¢ 173 Euslon Road London NWI 2BJ (Registered Charity 237698) 0￿ECTIVEs AND ACTIVITIES Objeetlves and aims The object of the Area Meetin8 is the furtherdnc¢ of the general religi(xis and charitable purposes of the Religious Soeiery of Friends (Quakers) in Britain. tn the area of HaTnpshitt and Islands M¢eting5 and beyond. The principal artivity IS the holding of tn¢¢tings for worship in the constituent local Meetings. 'lThe Arta Meeting meets thc public iKnelit test of ihe Charity Cotnmission by providing facilities to support its activities. including the provision of places of wgrship that are open to the public. The General Committee confTmis that it has complied with th¢ requirements of Section 4 of the Charities Act 2011, to have due rcgard to the public benefi1 guidance publi5h¢d by the Chariry Commission for England and Wal¢s. The Area Meetin8. which meets regularly during the year, is the prtmary meeiing for church affairs in Hampshire and Island5. Its role is to develop and maintain a communiry of Friend¥ a family of local meetings in which Friends gath¢r for worship 5PiTilual enri¢hment. It provides a balan¢¢ between W0￿h1p. muthal supporl administration, learning, deliberation and social life and builds up the spiritual life of its TneTnbers. It is the main route of ¢ommuni¢ation tween Fri¢nds in its Local Meetings and BrI￿1n Yurly Meeting (BYM). the body respoDsibl¢ for Quaker church affairs and witnes5 at national lev¢l. The Area Meeting acts as a facilitator and coordinator, ensuring ihat the constiwent local meetings have &c¢ess to opportunities for f¢llowship, spiritual developmenL and spiritual and p&%iordl care. including the care of children and young people and the elderly and vulnerable in its meetings. It also provides mutual support ihrough the shaTed discussion of int¢rests and (esting of ¢onceTns. In order lo provid¢ the required support to local mecting& the Area Meeting a]so atTrnges for.. Regular Meetings for Elders. Pastordl Friends. CIcTk5 and TreasuTtrs Representatives to attend Yearly Meeting foT Suffering4 QPSW ¢onftrence and the Quaker Life RepTesentative Council for BYM Commissioning Spiritual Reviews by all Local Meetings Suppor( for attendancc at the General M¢¢iings of three of the Qllaker S¢hools IL¢ightDn Park. Sibford and Sidcot) in England TTaining courses and conferences for th05¢ unthrtaking resw)nsibilities for their meetings Support For outreach actiyities Assistsnc¢ with the maintenance of woperty owned by the Meeting Support and training within all meetings relating to safeguarding policies and pra￿l¢eS Support of an Are1< Mttting Sustainability Action Group (AMSAG) with sianding order agenda reporting Support for ministry in prisons in the area The registering of tnarriages afier the Tnanner of ￿8k¢T$ in the area The ATea Meeting is a150 jointly r¢sponsible with Bournemouth Co2stsl Area Quaker Meeting for the Hampshire. South East Dorsei and 151ands Quaker Gath¢ring which meets twice a year Page 2 H¥mpshire & Island5 AreA Qua)ker Meeting Report of tlie Tru5tee$ for the Year F.nded 31st Deeember 2023 ACHIEVEMENT AND PERFORMANCE Charitable 9c¢ivilies Area Meeting tnet in se%8ion eight times during 2023, six via Zoorn and h¥0 with blended Zoom and face.to-face {using ftrst Southampton Winchester Meeting House). Ihe full G¢nerdl Committee met eight ti]nes in 2023 by Zoom. The Finance subcommittee alld Human Resources subcommittee met on numemus ocwsions during the year, all VlA Zoom. Lo¢al MeetinLys continu¢d Lo offer worship on a regular basi4 taking due account of Covid guidance. This ha8 included worship in meeting house5, renied premises and via Zoom. Five of the sevcn Am-owned Meeting Houses and the leased room in the Isle of Wight are now equipped for blended meeting5. Elder5 havc been considering th¢ impact of these ehanges on the spiritual life of Friends. Bustness meeting5 have akn Ettn held Tegularly. Our two largest local meetings, Southampton ond Winchester. have been able to offer children's mcctings and all-age W0￿h1P. To support fellowship (here have been di%ussions, social and study groups in p¢rson and via Z4y)m, and outings and picnics. No marriages afi¢r the manner of Quakers We￿ carried out in the Area in 2023. Strengthening oiir meetings Stuart Donnan ¢otnpleted his appointed tenn &5 Cle￿ of the Genernl Cimmitttt of ch8Jity tntste¢% on 31 December 2021. The post was vacant until 14 May 2022 when, after lengthy seaTchci and discemrnent by our Area Meeiing nominations commiltK, David Bartlett w&$ appoanted by Area Meeting as cle￿ olthe General Committee. Rosemary Furzer completed her appoint¢d terrn &$ clerk of the Area Mccttng on 31 Decembcr 2022. After ￿rther l¢n&Fthy searches and discernmenL the only narne that our Area Meeting nominations committee wcrc able to brtng forward for appointmenl as Area Meeiing clerk was also David Bartlett. There w&$ hcknowledged uncertainty about the 3¢iry needed and influence involved in such a dual appoinllnent but il did not seem to override any existing guideline, and Area Meeting agreed to a trial pcri(M] of apwkinonent of l yw. On 14 October 2023 Ar¢a Meeting in session appointed David Bartlett a5 Arca Meeting cle)* for a further peri￿1 up to 31 D¢¢t￿ber 2024. At the same meeting in October 2023 Area Meeting set up a small working gDroup of four exp¢ri¢nced Friends to report on ways of further simplifying our smjcwres and of promoiing succession planning within our traditional Quaker structures. The ¢mphasi% of thai group shifted tOWaTds strengthening rather than simplifying our activities rnajor simplification was addressed several yrars ago. At the next Area Meeting in October 2023 a broader group of members and attender5 W8s set up ro considcr of Tenewal in the contexl of looking ahead Lo the futures of our meetings. Both groups w¢re 10 retxirt in mid-2024 or after. How¢ver on about 16 Nov¢mber 2023 r)avid Bartl¢tt was athnitted to h¢)spital; it was not until 10 December 2023 that he asked lo be released frotn the post, and the Assistsni Clerk of Area Meetin& Suc 8tsnek ￿MporarilY took over David Bartletl's responsibilities including line management of employees (descTibed below). The trustees submitting this report have sadly to ry)rt that David Bartlett died on 2 January 2024. The dethiled ramificalions will be described in the trusiees. rcport for 2024. The replaCern￿t appointees (from Area Meeiing on 13 January 2024) involved in Ihe pr(Idllction of this rel￿ for 2023 were Swart Donnan (Clerk of the Oenerdl Committ¢¢ olcharity tnKstees} and Sue Stanek (CI¢Tk of Area Meeting). Area Meetings during 2023 A5 well as regular matters rclaiing to meTnbers. gpccific topics of imponance addressed relaled frequently to the need for strengthening and maintaining our Mem￿18 and ￿￿derS as well as our orgÉthisational stwctures. Britain Yearly Meeting has employed'lo￿l development workers" around the country to support groups adjacent Area Meetings; we wclcomed Hugh Douglos who will offer support to us during the coming few years. it wa5 agreed that th¢re should be more ¢xplicii emphasis OTI 5UPtx)ning the lives of our members and attenders in addition to 5UP]KJrting our 5trucNres' special m¢etings for sharing and learning would be further develo￿￿. and use wade of extrrnal as well as area speakers and facilitator& incoTporaiing our local IT and audiovisuyl experience to incr¢ase the numbers who can rneel and see ¢ach other and dis¢uss common int¢rests with needing to tsavel long distances within our large A Meeting- during the y¢ar Area m￿ting had many o¢c4sions io note the conunuing Ios5 of OUT ag¢ing w¢ll-establighed Page 3 Hampshire & Islands Area Quaker Meeting Report of the Truslee5 lor ihe Year Ended 31st Deeember 2023 Area Meelings dthrlng 2023 discussions began about how our widespread estate of Friends Meeiing Houses could be best used by Area Meeting, indeed how many of whal type did Area Meeiing and its l(Kal me¢(in¥s need. Som¢ practical aspects of these issues were dvdlt with during the year by General Committee (see next S¢Clion) in discussion with relevant meetings,. there are ongoing discussions at Area and Local Meetings abo￿ the future strncwtE and role of the v¥ry It)ngsianding M¢¢(in8 for SulTeritw (the national repteseniative mmmittee of Brilain Yearly Me¢tinL, with govemance and consultative roles) and its relationship to Britain Yearly Meeting and its tntstees as well as to Area and Local Meetings. Our repreSen￿liveS keep us infomed aErf)ui such Britsin-wide issues. CeTrernl Commlttee Meeting5 durin% 2023 our Finance subcommitie¢ guided by the Area Meeting tr￿sUrer mamitained Up-tO-da￿ ac￿Unts with professional support in preparing the f￿al accounts. our Finance subcomrnittee also advised on bToad flnancial I￿17CY irnplications with detailed sUPPOrtive budg¢is and frequent input to a variety of tnatters relating to our property- (w Prop¢rty subcommittee ¢ontinued to Function in 8 low-key Manner. No has yet Eeen found ￿ serve as Property Co-ordinator since Nick Wilde stood down on 9 Sq)tember 2023- until then li had repres¢nt2itves from some but not all local meetings with Mttiing Houses. Since then. local Prernises Commillees have worked diTgtly with the Area M¢eting treasurer on propertylst]uctural matters. Severdl tnajor Tnattets of principle a￿lut properties and their uses have been dealt with by the full General CoTnmittee wme s￿lfie detailed input from Finan¢e subcommittee. the sale of POrtsM￿th Friends M¢eting House was proposed by the meTnbers of Portsmouth Quaker Meeting primarily because of the decreasing per50llal resouTces available within the rnoe(ing to mainthin and make full use of the premises,. the principle of the sa]¢ agreed after a long peri￿ of consultalign- mattrrs were contiiiued into 2024 (not fjnally concluded at the time of wriling this report)- O¢neral Lomrnitt¢e was infornied of ongoing discussions at the local l¢vel of the fuwre use of Southanipton Fri¢nds Meetingp House. Area Me¢ting would be involvod as well as General Committee when delailed proFosals w¢r¢ made: ¢n¢ral Committee wa5 infomied of, and is contiibuting to, ongoing discu55ions alK)ui possible changes to the lease of certain rooms at Alton Friends M¢etsng House, and to the le￿ of the section of the premises at Quay Arts Centre, NewporL currently used by Isle of Wight Quaker Meeting- work wa5 progressing on thc principles and prncticalilies of Quaker document retention w)d archivinu in support of or new archivist and k¢yr of the saf¢- our HR (Human Resources) subcommittee eovers matters relatin¥ lo people. major vnas of work are safegudrdinL issues (see separate $￿tion below) and employment 15su¢s {see nexi Iwo items in ihi5 li5t)- d¢tails of payroll dnd pensions for the fom)al ¢tnployees ar¢ carri¢d out by Frien(L% from Wllichester Meeting- our ¢l¢rk prowsed th¢ employmcnt of a part-time Area MttLing Communications CooTdina(or to further develop the Area Meeting website And other electronic as well as personal c4)mmunicatiOll5' the appointment was a&)reed in principle in March 2023 and the appointm¢nt made in April 2023: the wi-tune worker has suc¢eeded in rapidly putting together website and related connections and many other IT and personal dimension5 of support to lo¢al eelings across the whole area which include5 the Channel Islands; the cle￿ of Generdl Committee acled as lin¢ manager until his illness shortty before the end of the year. the work continues into 2024. our clerk also proposed thc employment of A half-iime Area Meeting admintstrator io replac¢ the ￿￿tracted fr¢elance part time administratiY¢ assistani who had resigned- the appointment w&$ a&yreed in principl¢ in March 2023 and the appointment made in August 2023. the Clerk of General Committ¢e a¢trd a8 lll)e manager until his illness shorily beforc the end of ihe year. Page 4 HAmpshire & l$lAnd$ Area Quaker Meeting Report of the Trustee5 for the Year Ended 31st December 2023 ACHIF.VEMKNT AND PERFORMANCE S8feguarding Our Area Mceting Safeguarding CooTdinator and Deputy Safeguarding COord[na((￿ are both full members of the Gcneral ComTnittee of charity trustees, and sit on the Hman Relations subgroup whi¢h includes kqfeguarding. Each local mccting has a safcguarding c(K)rdinator or contact and they all know they contact the AM coordinators at any time. They have helped lotsl Tn¢¢tings deAI with various saf¢guaTding issues over the year. These have all been about ]Inerable or challcnging adults and are all in hand. The Area Meeting is composed of eleven Local Meetings, eight subject to UK law and three on Channel Islands. In 2023 all enhanced DBS checks rcquirgj by UK law were completed. l)i(ferent laws apply on the Channel Islands and checks have been worked on during 2023. In addition to the usual Quaker activiiies. Winchcster has a residenti￿ proje￿ for vuln&able people which can bring eoncerns from time to iimc. The safeguarding coordiT)alor FK>st #t Win¢hester is heid by a job share to ensure continuous ov¢r, and they are regularly in coniact with the Area coordinator. EDvironmentxl Sust*inability Sustsinability has bcen a fr￿uS for local mL%tings and Area Meeling with the growth of the Area Meetings Sustainability Action Group (AMSAG). meeting monthly by Z(bom and incllldinbF expert contributojs ￿ many of its sc&sion.%. Its Convcnor has reported io each Area Meeting. During 2023 AMSAG. aluDg with other Area Meeiings, pressed Meeiing for Suff¢rings on the issue ofthe Stop Ecocide International Manif¢8to. Area Meetin& supported by lo¢al meetings and its Gener￿ Committee. will continue to face the challenges of disceming what will be ihe new noTmal. It is seeking (o provide for the fuNre for our Meeting Houses, mcctiiigs for worship, mecting5 for worship for business and for social and learning activities, in the face ol many chall¢nges rtlalion io the environment and to climate change. FINANCIAL REVIEW Finxneial position The StJtcment of Financial Activities of the Area Meertng includes the funds of the eleven Local Meetings and the M¢Bftin Fund. The funds held by the ATea Meeting at 31st December 2023 are £2.883,421 {2022.. £2,742,012). We gd¢ i Tnodest surplus of £54,045 (2022.. deficit £119.461) before revaluations i.e. not including the 'knotional" changes in valu¢ of our pmperties and St￿k-MarkeI invesunents. The notional value of (xtr investsnents increased by £45.364 (2022 d￿reas¢ of £153,161). We re¢eiv¢d legacies of £46.102 (AM g¢neral use) and £45.000 (SouthaTnpton Local Meeting) (2022.. £200 in legacies received). Restricted funds Ilegacic.% and trusts with resiricti¥e conditions) belonging w Local Meetings are shown separately from Area Meeting restricted fwids. Some Local Meeting resiricted fun(L8 are managed by Area Meeting. Local Meetings, unrestricted general fund5, and those legacy funds for which there is no stronger restriclion than that they Are left to a particular Local Meetin& are listed &8 designaied fvnds of the Area Meeting. Most of the in¢om¢ required by the Area Me￿ing for its genernl PUryN)ses is contributed by L￿al Meeting& by a fomiula based on the llUTnber of members and attende]s in each Meetlli& Ai 3 1st Decemb¢r 2023 the membership of the Area Mecting wa5 250 plus 138 attenders (265 plus 145 in December 20221. The total in¢ome from contyibuiions to AM and Lms in 2023 was £89,829 {2022 £104,543). Meeting House hiruig5 in 2023 bTought in £65,689 12022.. £45,074) showing. at last. an increase io atrM)ve pre-COVID l¢v¢]s (2019.. £48.6981. Expenditure on hardship girynt5 by the restTiCted McBain fund was £18.917 (2022.. £21,996). Advertising the McBain fund nailon￿lY in The Friend" ¢ontiniies io draw applicants from outside the Area Meeting. Page 5 H8rnp5hire & Isknnds Area Quaker Meeting Repori of the Trustees for the YeAr Ended 31st December 2023 FINANCIAL REVIEW Irjvestments and Savings Following ihe consolidaiion of our investments into Rathbone Greenbank L￿.,S manag¢ment in 2022. we cashed in tht -McBain" investmeni on 9(h Febn￿ 2023. li had appreciated slightly to £58.310 from its end-2022 value of £56,878, still disappointingly low relaiivc to its i/]r2022 valuc of £75,172. The openillg valu¢ of th¢ McBain Fwjd was a¢tllally lower than thc value of the inve5tmcnt, ai £51,628, becau5¢ grants from it weJ¥ paid out of the 5avin&s a¢wunt. So boih the difference (£5,250) and tho unli5tcd invc8tsnent of £IO,O(M) in PEC Renewables. which was a150 origFinally McBain Fund Tnoncy, reverted to the AM'S General Fun(L £33,970 of the McBain Fund remains in our saving$ 2c¢ounts at the end of 2023. Our swck-markei inveslmellt5 made a modest gain in notional valll¢ of £45.303 or 4.P/o. Over the year the Consumer Price Index (CPI) inflation measure fell from 10.l°h in January through 7.V/o in June to 4.ots/o in December (corresponding Reiail Price Index. RPI. figures 13.4Vo. 10.P/o, 5.2Vr*), so our gain would have been an effective loss ir we had cashed the invesnnents at the year-end. We rni5ed with RathlK>ne Greenbank die question of whether we 8hould transfer ihe investments io cash, but they advised that in the 5-10 year-plus iimeframe for whicli we aimed invest, the stock market would give better return5. Rathbon¢ Gre¢nbank tnonitors the perfonnance of our investments and makes minor adjustments ts) try to counter adverse TllaTk¢t conditions. We receive regular notifications of significant purthases and disposals of investsnents within our portfolio. Giv¢n the disapwinting performance and ci)ntinuing volatility of the stock markeL we chose noi io invest further funds there in 2023. We received a legacy of £46.101 in May 2023 and pl￿ed this in our Epworth "Cash Plus for Charilies" savings accounL where the interest t2￿ was 3.20/0 in January 2023. 4.3W/o in June and 5.380/0 Oei-Dec 2023. {Epworth earns interest on this account by shon-ierni lending lo a set of major banks s¢re¢n¢d for fthan¢ial r¢li8bility, ond engages vigorously with th¢ir managements over ethical lending FKilicy). A significant transfer of £66.800 from the Nott legacy fi￿d io AM 8¢nernl fund allowed the ap￿trintMen1 of a Communications Cfrordinator in May 2023 and an Administrator in September 2023, both working parf-titn¢ fro their homes. The legacy funding also paid for all the expenses of thes¢ two etllploy¢es including ¢quiprn¢nt and travel. Payroll functions for these wer¢ added to the existing payroll fun¢tions for the en]ploy¢¢5 Iwardensl a¢ Winch¢sler Local Meeiing and were caTried out by ihe tA)cal Meeting treasuring team. Gen¢rnl com￿]tte¢ ag￿ed in 2024 to the outsourcing of payroll fun¢lions for all AM employees. R￿erveS policy Thc AM follows Britain Yearly Meeting's model policy. which is thal unr¢5tri¢ted funds cover- l. Known future spending commitments- 2. An estimaie of the nexi five y¢ar5' large property repair costs. 3. A PTovision for a reduction in voluntary income" 4. A res¢rve of three months, expenditur¢ to cover cash flow flucwations. and that surpluses to ihis amouni should be Spent wiihin ten years and deficits made up within five y￿r9. We estimated the abov¢ amounts from the past five years, accounts with an inflator of 3.3¥0 on the property repair costs. as -£458k. Our unrestricted and undesignated reserves from Note 19 below are-£812k so we have an excess of 4354k. The AM is keeping re$erv¢s under review a5 risk5 evolve. Page 6 Hampshlre & Islands Areg Qu8ker Meetlng Reportof the Trustees for Ihe Year Ended Jlst December 211LI STRucfuRE. GOVERNANCE AND MANAGEMENT Cl]arSty constitution The affairs of the Hampshire Jnd IslatM1s Quaker Meeutlg IArn Mthingl art govert*d by "Quaktr Faiih and Pr￿lice, Ihc Book of Discipline of Britain Yearly Meeiing IB YMI. The Area Meeling was entercd lh¢ Regisi&' of Chai'ities as a ChaTiiable In¢(PTPOT%ted Or8an15alion ICIOI. regi%le￿I numbcr 1186058. on 30 Octo￿1 2019 and it is govemed by its eonstiiiiiion adopted on 14 Semembtr 2019. Ihe Membe￿ of the Area Meding art all those persons whose names air fnr ihe time ￿l￿g re¢tsrdeil Ith its off￿1￿1 wgisier. The Area Meeting changed from bcing an ynintortx)￿ed chatily io a CIO ¢)n 30 (ktthr 2019 and a]1 assets of the unincorporated charity (1134213) weTe vested in the CIO Irom 31 Det¢mtr￿r 2019. Th¢ urtincd Roa Portsmouth P02 9QT Meeting House and Cottage. la Orthiance Road. 8oulhampton SOI 5 2AZ Burial Ground. Brighion Road. The Av¢nu¢, Southampton S015 2JL Mceting House. 16 Col¢bn)ok StreeL Winchestrr. Hants S023 9LII ChildTen's room and potting sh&t 16 Colebrwk Stree Winche5t¢r, Hants. S023 9LH 1672 1,355,840 67,893 cl￿) 582.344 656.387 969,662 28.187 15,964 29,834 1872 1931 802.373 48,093 1884 1295.328 72,206 1662 70,027 1,851 1773 1,975,587 96.214 Total insured value 7 733 204 360,242 There is also a contenis value of £14,350 for the furnitur¢ and ¢quipnJent held by the Isle of Wight Local Meetings at Thc Rope Sttsre. Quay Arts C¢ntre. Sea StreeL N¢wwrL 15k of Wight P030 5BD. 'Ihe titles io all of the properties owmed by the charity are held by FrientL% TDJst Ltd as Nominee. with restrictions on dispwl of the freehold according to the 2011 Scherne {29811112}, amended 201811711819). of the Charity Commission applying to th¢ old charily 1134213. r¢5ponsibility for whirh was transfetTed to the twstees of the present CIO along with the properties. Page 16 conlinued... Hampshire & Islands Area Quaker Meeting Notes to the Fin#neial Statements- continued lor the Year Ended 31st December 2023 14. TANGIBLE FIXED ASSETS CoTMPUter equiprn¢nt Tothls COST At I st January 2023 Additions 16.286 16,286 At 3 Isi De¢¢mber 2023 DEPRECIATION At 1st January 2023 charge for the year 4,072 4.072 4,072 At 3 1st December 2023 8,144 8.144 NF.T BOOK VALUE At 3 1st Decemter 2022 12,214 At 31st December 2023 8.142 15. FIXED ASSET INVESTMENTS Listed inveslrn¢nts Unlisted invesmients Tota15 MAIiKET VALUE At 1st January 2023 Addition5 Disposals RevaluatlOll5 929.128 10.O(K) 939,128 (56,878) 156,878) At 3 1st Decemb¢r 2023 916 120 i 0,000 926.120 NET BOOK VALUE At 3 1st Deceniber 2022 939 128 At 31st tk¢ember 2023 916.120 926,120 "there were no it]vestsnent &ssets outside thc UK. The listed investments are held in a diversified portfolio of unit tn￿5, as agreed with our advisoT& Ethical Investors Group. Following a review of the iDvcsttncni Strdregy the AM initiated a rea￿angement of the (unds to confom) morc c105ely with its invc%th)ent strategy. The single unlisted investmenl of £10,000 ts a share in a UK alternative ¢nergy community cnierprise, PEC Renewables. Page 17 continued... Hampshire & lslAnds Area Quaker MeeliNg Notes to the Finanei41 Statements- coDtiMued for ihe Ycar Ended 31st December 2013 16. INVESTMENT PROPERTY FAIR VALUE At 1st January 2023 Revaluation 1,043,900 42.000 At 3 1st December 2023 1085 900 NET BOOK VALVE At 3 1st December 2022 1.043,9(K) At 31st Ikcember 2023 1085 9(K) The valu¢ of the Area Me¢iing's investsnent pro1￿rtIeS is ￿E¢ll]ated with a standard fonnula of the current rents charged representing 5 /* of the value. A one-8cveDth share in a propcrty in Jersey. "La Chasse". which was bequeathed to Jersey LM but eannot be realiscd at presenL has an estiM￿ed value of £125.IKKI. unchpnged since 2020.'This has 6dd¢d to the value of invcstsnent propety. 'rhe value of the property Hannah House. mana8ed by le5stt Southern Housing l.td. OT] thc HunT)yhill Qllaker Burial GTouDd gite. Isle of Wi&hi, on which it has a long lease expiring on 3111212115, is calculated as £4,500 applying the same Syo rate to th¢ annual renl of £225. The properties and their values are: Investment Property Uppcr Flat (fornierly warden's flat) in Alton Meeti118 House Private GIF Swdio Flat in Alton Mee(ing House Uppcr Flat (form¢rly wardens. flat). Basing5toke Mttiing House Flat (foNnerly wardens. flai). PortsTnOUth Meeling Htyjse Cottage adjoining Portsmouth Me¢ting House Cottag¢ (fornierly wardens, flat) in grounds of Southampion M¢etDig Ilouse Onc-sevcntl) share of "La Chasse". Jersey HanDah House. Hunnyhill. Isle of Wibjht Totsl Market Valut 144,000 144.000 218,400 126.000 96.000 228,000 125.000 4,500 1,085.91)0 17. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Debtors Deposits held 17.255 20,102 20,000 40,102 Included in debtors is a £3,000 loan from Portsrnouth to Britain Yearty Quaker Meeting. Although this loan has an indefinite timespan it be r￿JaiMed with 1¢5s than a yw's notice. Deposits held r¢lates to ih¢ deposit on The Rope Store Gallery. 15k of Wight, and will bc refunded at the end of th¢ licence peri(xl. Page 18 continued.. Hampshire & IslAnds Area Quaker Meeting Notes to the Fin¥nciAI Statements- continu for the Y¢Nr Ended 31st December 2023 J8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Trade ¢reditots Aciing as Agcnts ACCn￿lS and d¢f¢rred income 3,694 986 24,S29 1,449 10,680 Included in other creditor5 amounts th]e regarding Acting as Agen￿ the balanc¢ is made up as follows.. 2023 2022 As at 1st January 2023 Recciv¢d during the year Expended during the year 1,449 4,730 876 5.134 A5 at 3 Isi Decembu 2023 986 Page 19 continued... HAmpshire & Islands Area Qugker Metting Note$ to the Financixl Statements- eontinued for the Year Ended 31s1 Dee¢mber 2023 19. MOVEMENT IN FUNDS Net moveTnent in fvnds Transfers between funds At 31.12.23 At 1.1.23 Unrestricied funds AM General Fund Alice Southwell Legacy {Basingstoke) Claire Smtth Legacy (Basingsioke) Guemsey Lggacy Fund Joyce Wanvick fund (Portsmouth) Anne Parnjeter l.ega¢y (Jersey) La Ch[￿e (Jetwy) Peggy Jackson Legacy (Southampton) Patrick Notl Legacy {lOW) AM Property Fund Aldern¢y Alton Andover lknsingstoke Guernsey Isle of Wight Jersey Portsmouth Southampton Winchester Gillian l)avic5 l£gacy (Winchester) 1,065.759 5.396 2.438 5.909 5.683 52.153 125,000 313.644 267,896 9),353 1,756 26,850 1.512 19,357 2,514 49,025 33,329 34,140 167.066 117.868 215.020 52.188 100,396 199) 1,218,343 5,396 1,874 5,909 5,683 55.258 125.000 327.835 189.095 92.732 1,117 37,562 1.007 21.896 1,900 45,026 38,016 29,377 214,046 117,144 223431 (564) 3.105 14.191 (12.￿)1) 2.379 (139) 13.550 925 5.826 266 247 7.239 {273) 54.700 4.772 (66.8001 (500) (2.838) {1,430) {3.287) (880) {4.246) {2.552) {4.488) {7.780) {5.496) 2,602,668 154.979 1757.647 Restricted funds AM Building Fund McBain Fund IOW Building Fund IOW Legacy Fund Al(krn¢y bund Sawell Fund Winchester Building Trund 46,818 31.628 12.919 8,933 1,046 5,000 13.000 2.787 (17,658) 769 532 49,605 33,970 13,688 9.465 1,046 5,000 139.344 13.570) 125 774 TOTAL FUNDS 2,742.012 2.883,421 Page 20 continued... Hampshire & 151#ndy Area Quaker Mttting Notes to ihe Fina)neial Statements - continued ror the Year Ended 31st December 2023 19. MOVEMENT IN FUNDS- contlDued Nei movement in fund4 included the above are as follow5= Incoming reSou￿e5 ResouTces expended Gains and losses Mov¢ment in funds Unre5trieted funds AM General fund Alice Southwell Legacy {B￿l￿8St0ke) Llaire Smith Legacy {Basingsioke) (iuemsey Legacy Fund Anne Parmeter Legacy (Jersey) Pe￿ Jackson Legacy (Southampton) Patrick Noti Legacy IIOW) AM Property fund Aldemey Alton Andover Basingstoke Guernsey Isl¢ of Wight Jersey Portstnouth Southampion Winchester Gillian Davies Legacy (WinchesLcr) 51.570 (46.517) 47,135 52,188 99 {564) 45 (609) 3,105 14,191 3.105 14.191 112,001) 2,379 (1391 13,550 925 5.826 266 247 7,239 (275) 54.760 4,772 8.411 8.999 (21.IM>O) 13,000) 11.663) (16.676) 12.031) 17.966) 13.125) 19.482) 18.597) (10,580) (49,719) (107,478) 5,379 1.524 30,226 2.956 13,792 3.391 9.729 15.836 10.305 101.600 111.567 2.879 683 8.411 361.639 (288.443) 81.783 154.979 Restricted fund5 AM Building Fund cBain Fund IOW Building Fund IOW Legacy Fllnd Winchester Building Fund Cadbury Fund 2.787 1,493 769 532 2.787 (17,6581 769 532 263 (19.414) 5,IM)O 13.570) TOTAL FUNDS 312.857) 141229 Pa8e21 ¢ontinu¢d... Hampshire & l$lands Are8 Qu8ker Meeting Note5 to tht FinAncial Sl3terneDt5- Colltinued for the Year Ende(131.st December 2023 19. MOVEMENT IN FUNDS- continued 2022 Compar8tives for movement in funds Net movemeni in funds Transfers iKtwcc funds Ai 31.12.22 At 1.1.22 Unrestricted funds AM General Fund Alic¢ Southwell Legacy (Basingstok¢) Clair¢ Smith Legacy (Basingstoke) Guerns¢y Legacy Fut]d Joyce Warwick Fund (Portsmouth) Ann¢ Parnieter Legacy {Jersey} La Chass¢ ljerseyl Peggy Jackson Legacy (Southampton) Patrick Nott Legacy {lOWI AM Property fund Aldem¢y Alton Andover Basingstoke Guemsey Isle of Wight Jersey Portsmouth Southampion Winchester Gillian Davies Legacy IWin¢h¢ster) 1.006.097 5,396 3,439 5,887 5,683 62.000 125,000 377,609 324,886 107,412 1.448 24.577 3.667 21 11.(K)l) 55,995 (21) 1,065,759 5,396 1438 5,909 5.683 52,153 125,000 313.644 267,896 90.353 1,756 26.850 1.512 19.357 2.514 49,025 33.329 34.140 167.066 117.868 215 020 19.847) (63,965) (56,9901 (17,059} 308 4,982 2,228 814 755 {3.057) 5,921 6,318 138,656) 8.783 6.520) 12,709) 11,806) 13,323) {960) 14,284) 12,394) 14,515) 18,211) 15,418) 21,866 2,719 56,366 29.802 32,337 213.933 114.503 221,540 2.743.590 {163.276) 22,354 2.602.668 Restric¢ed funds AM Building Fund AM Loan Fund (Dorothy Searle I￿aCY) McBain Fund IOW Hewland Fund IOW Building Fund IOW Legacy Fund Aldemey bund Sawell Fund Winche51er Building fund 55.658 26.574 92.716 17.073 15.358 10,619 1.046 5.(M)O 5.(M)O {8.840} {4.220) (41,08R) (17,073) (2,439) {1.686} 46.818 (22,354) 51.628 12.919 8.933 1,046 5,000 13.(M)O 139344 TOTAL FUNDS 2.972.634 230 6221 2742 012 Page 22 coniinued... Ha)mpshire & 1518nd5 Ares Quaker Meeting Notes to the FinAncl&l Statements - tontinued ror the Ycar F,Dded 31st December 2023 19. MOVEMENT IN FUP4DS- eontinued 2022 Comparative net movement in fimds, in¢luded in the a￿ve are as follows.. Incoming Resowces expended Gains and losses Movement in funds Unrestricted fullds AM General Fund Alice Southwcll Legacy (Basingstoke) Claire Smith L¢gacy (Basingstoke) Guernsey l.egacy Fund Anne PamieteT l.ega¢y {JeT5ey) Peggy Jackson Legacy ISouthaTnpion) Patrick Noti Ikgacy {lOW) AM Property Fund AldeTney Alton Andover Basingstoke Guernsey Isle of Wight Jersey Ponsmouth 8outhamptort Winchester Gillian Davie5 Lcgacy (Winchester) (310) 21 13 (26,593) 30,570 3,667 21 (1.0011 22 (9,8471 163,965) 156,9901 {17,0591 308 4.982 2,228 814 755 (3.0571 5,921 6,318 {38.656) 8,783 6.520) (1.014) 302 (10,149} (63.965) 3,292 523 2,154 29,468 4.139 13,796 4,5(M 8,089 24,086 17,621 39.666 105,601 (60,282) (17,582) 11.846) (24.486) (12.982) 13.749) (11.146) (18.165) (11.303) (73.gM)) {94.966) (4,4221 (1,8521 252.987 (342.343) (73.920) 1163.276) Restricted fund$ AM Building Fund AM Loan Fund (Dorothy Searle Lcgacy) McBain Fund LOW Hewland Fund IOW Building Fund IOW Legacy Fund Winchester Building fund 271 129 437 (8,840) 14.220) {41.088) {17.073) {2.439) (1.686) 8.000 {4,349) (19,5291 (21,996) (17,073) 75 52 (2,5141 (1,738) 37,241 67.346 TOTAL FUNDS 261951 381,412) 111 161) 230,622) RutTieted Funds These Funds are adminislered by the AM Treasurer and team but Tnay be managed by ¢ommittees. - AM Buildittg Fund was opened in 2009 with the transfcr of the Ekllancc of the restricted P¢tersfield Le¥acies. AM Loan Fund (Dorothy Searle L%gacy} is for loans to mttcin8s improving or addipg tn premises. This bears no relation 10 the living Dorothy Searle who is a ttustee of the chaTiry. At the end of 2022 Uli% fund was de-restricted and merged with the AM General fund. Marjorie Fraiices Mejlain Fund is for M¢M￿rS of the Religious Society of Fricnds who are in need, hardship or distress. Elise Hewland Fund is for elderly and recuperdting residents in thc Islc of Wight. lTh¢ fvnd is administered by the McBain CommittK. It was spent out in 2022. Page 23 Continued... H*mpshire & Islands Arex Qu*ker Meeting Notes to the Finaneial Statements- Continued for the Year Tr.nded 31st December 2023 19. MOVEMFNT IN FUNDS- continued low Building Fund is for loans io meetings improving or adding to premises. - low Ixgacy Fund is for the dev¢lopment of the meetin& parti¢ularly in outreach. on the Isl¢ of Wight. LM Re5triettd Funds Th¢ funds are managed by constituent irtal Meetings under th¢ of the L￿Ta¢Y or Trnst. - Alderney Fund Ts for those in need or for oth¢r ch8ri(able purr*)*s, ￿rtiCUlarlY on the Island ofAlderney. - Winchester Building Fund - d(￿atIOn in respe¢t of Winchester ￿lIdingS from the Georg¢ Cadbury Fund. Sawell Fund - grdnt 10 Winchester Local Mecting to cover professional fees for investigation/development of a new worship S￿¢. AM Dtsignated Funds AM Property Maintenxnet Fund has been set aside in order lo make provision for future ¢xpendibJre on the Maintenance and insurance of Meeiing Houses. LM Designated Funds - Alice Southwtll ikgaty is for th¢ generdl charitable purposes of the Meeting ui Bas1ngs￿ke. - Clair¢ Srnith Legaey is for the genernl charitable purw of the MeetiTkg in Basingstoke. Giiern5ey Ltgaey Fund (Bxrbarn Wrlght and P¥l Hancoek) is for the general ehariiable Purposes of the Meeting in Guemsey. - Joyce W8rwlek Fund is for the genernl charitable punx)ses of the Me¢ting in Portsrnouth. - Peggy Jackson irfHcy is for the general charitable pu4)oses of the Meeting in Southampton. - Patrick Nott ttgaey is for the use of promoting Quak¢r Christian Withess on ihe Isle of Wight. - Anne Parmeter tkgaey is for the general charitsble p￿r￿SeS of the Local Meeting in Jersey. - Glllian Davies Legary is for the g¢neral chariible purposes of Winchester Lwal MeeLin& Tra￿SferS between funds Trall5f¢n between funds relate to yardslick contribuiion5 payable fro￿ each Local Meeling to the AM General Fund 20. RF.LATF.D PARTY DISCLOSURES There weTe no related party tr￿sa¢(lonS for the year ended 31si tkcember 2023. Page 24 continued... Hampshire & Islands Area Quaker Meelittg Delailed Statement of Financial Activities for the Year Ended 31st De¢ember 2023 2023 2022 INCOME AND ENtK>WMENTS DtsnAl&ons and legacies DOnat￿OnS {Inc. gift aid) Legacirs & ¥ifts 89.829 104,543 200 185,931 104,743 Other trading activities Mccting house hirings Other income (Inc. Residential Weekends) Miscellaneous income 65.689 7.035 80 45.074 20.522 72.804 65,596 JnYe$trnenl income Rents receiy¢d Interest & dividrnds received 40.305 23.659 41.867 8.694 63,964 50,561 Other ineome Housing Project rent Total incoming resourees 366,902 261,591 EXPENDITURE Investment management eosts Wages Leiiing agents fees Maintenance to investment properti¢s Jllsurdnce Repairs & maintenance costs 22,530 4.209 8,260 3,835 23,256 15,723 2,400 960 3,092 1,723 1,348 12,710 5.356 8.268 3.510 28,236 14,407 2,328 911 3,gii 6,477 1,796 Jndep¢ndent examiner fee Bookkegping lees Administration cos(s Meetin&T House improvement proj¢cl Burial &Jrounds Rent 87,336 88.170 This pa8e does not f￿￿ part of the statuiory financial 5tdtements Page 25 Hampshire & Islands Area QuAker Meeting Detailed Statement of Financial Activities for the Year Ended 31si Dec¢rnber 2023 2023 2022 Charitable aetivltles TrainingT and cnnferences Meeting attendances Printing, postage & stationary Outrcach Mt¢ling suppon costs (Inc. Residential Weekend) Administration Room and quipment hire Grant5 to instituiions GranL% to individuals 3,398 186 1.4J4 5.755 1,934 105 883 1,563 2.814 2.480 7.8(M) 70,255 2,503 5.388 6.423 124.470 38.693 113,219 181,962 Support co$ls MAna%ement Wages Insurance RepaiTS & mainienancc Costs 33.795 5,753 34.885 23.584 2,585 2.022 19,065 5,265 42.354 21,611 9.716 2.694 Mccting House improvetllent proj¢¢t Burial grounds Rent 102,624 1(10,705 Governance costs Independ¢nt ¢xaminer ftt Bookkeeping fe¢s Administration ¢osts 3,492 1,366 5,717 .440 4,638 Total resOU￿e5 expended 312857 381412 Net Ineomel(expenditure) 54.045 119.821) This page d(bes not fom) part of the sta￿tOry firhancknil ststements Page 26