**REGISTERED CHARITY NUMBER: 1186058** **Report of the Trustees and Financial Statements for the Year Ended 31st December 2024** **for** **Hampshire & Islands Area Quaker Meeting** Lewis Brownlee (Chichester) Limited Chartered Accountants Appledram Barns Birdham Road Chichester West Sussex PO20 7EQ **Hampshire & Islands Area Quaker Meeting** ## **Contents of the Financial Statements for the Year Ended 31st December 2024** ||**Page**| |---|---| |**Report of the Trustees**|1 to 6| |**Independent Examiner's Report**|7| |**Statement of Financial Activities**|8| |**Balance Sheet**|9| |**Notes to the Financial Statements**|10 to 23| |**Detailed Statement of Financial Activities**|24 to 25| **Hampshire & Islands Area Quaker Meeting** ## **Report of the Trustees for the Year Ended 31st December 2024** The General Committee of charity trustees presents its report with the financial statements of the charity for the year ended 31st December 2024. The General Committee has adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) (effective 1 January 2019). ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charitable Incorporated Organisation number** 1186058 ## **Principal address** Friends Meeting House 16 Colebrook Street Winchester Hampshire SO23 9LH ## **Constituent Meetings** The Area Meeting comprises ten constituent local meetings in: Alderney, Alton, Andover, Basingstoke, Guernsey, Jersey, Isle of Wight, Portsmouth, Southampton and Winchester. For accounting purposes Hythe Local Meeting and Romsey Worshipping Group are included with Southampton; and Petersfield Worshipping Group is included with Alton. In October 2024 Alderney Local Meeting became a Worshipping Group and its accounts will be included with Guernsey Local Meeting as from the beginning of 2025. ## **Officers of the Area Meeting** Clerk: Sue Stanek (Southampton) (from January 2024) Treasurer: Sheila Peacock (Basingstoke) Clerk to General Committee of Charity Trustees: Stuart Donnan (Southampton) (from January 2024) ## **Members of the General Committee of Charity Trustees** Stuart Donnan (Southampton) Clerk of General Committee (to December 2024) sarah coote (Portsmouth) Patricia Jaggard (Isle of Wight) (to February 2024) Beverly Meeson (Winchester) Sheila Peacock (Basingstoke) ex officio as Area Meeting Treasurer Marion Penn (Winchester) Patricia Roscoe (Southampton) ex officio as Area Meeting Safeguarding Coordinator Dorothy Searle (Southampton) ## **Independent Examiner** Sarah Alexander FCCA FCA Lewis Brownlee (Chichester) Limited Chartered Accountants Appledram Barns Birdham Road Chichester West Sussex PO20 7EQ ## **Bankers** CAF Bank Ltd Kings Hill West Malling Kent ME9 4TA Page 1 ## **Hampshire & Islands Area Quaker Meeting** **Report of the Trustees for the Year Ended 31st December 2024** ## **REFERENCE AND ADMINISTRATIVE DETAILS Investment Advisors** 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) ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The object of the Area Meeting (AM) 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 Meetings 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 confirms that it has 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 and Wales. The Area Meeting, which meets regularly during the year, is the primary meeting for church business affairs in Hampshire and Islands. Its role is to develop and maintain a Quaker 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 and attenders. It is the main route of communication between Friends in its local meetings and Britain Yearly Meeting (BYM), the body responsible for Quaker church affairs and witness at national level. In order to provide the required support to local meetings, the Area Meeting also arranges for: - Regular Meetings for Elders, Pastoral Friends, Clerks and Treasurers - Representatives to attend Yearly Meeting, Meeting for Sufferings, QPSW conference and the Quaker Life Representative Council for BYM - Support, when possible, for attendance at the General Meetings of three of the Quaker Schools (Leighton Park, Sibford and Sidcot) in England - Training courses and conferences for those undertaking responsibilities for their meetings - Support for outreach activities - Assistance with the maintenance of property (including burial grounds) owned by the Area Meeting - Support and training within all meetings relating to safeguarding policies and practices, including advice and - significant contributions to safeguarding in the small social housing project for vulnerable people in Winchester Local Meeting - Support of an Area Meeting Sustainability Action Group (AMSAG) with standing order agenda reporting - Support for ministry in prisons in the area, including facilitating and risk-assessing the inclusion of ex-offendors in our worshipping community - The registering of marriages after the manner of Quakers in the area The Area Meeting is also jointly responsible with Bournemouth Coastal Area Quaker Meeting for the Hampshire, South East Dorset and Islands Quaker Gathering which meets twice a year. Page 2 **Hampshire & Islands Area Quaker Meeting** ## **Report of the Trustees for the Year Ended 31st December 2024** ## **ACHIEVEMENT AND PERFORMANCE Charitable activities** Area Meeting met in session eight times during 2024, seven via Zoom, and one blended (Zoom and face to face) meeting at Alton. The full General Committee met eight times in 2024 via Zoom. The Finance subcommittee and Human Resources subcommittee met on numerous occasions during the year, all via Zoom. Local meetings continued to offer worship on a regular basis. Following the sale of Portsmouth Meeting House, Friends have been hiring a room within the Unitarian church in Portsmouth as well as meeting on alternate Sundays via Zoom. Five local meetings are equipped for blended meetings. To support fellowship there have been, among other things, discussions, social gatherings, and study groups (in person and via Zoom). Post-Covid there was a desire to meet more often in person as a spiritual and social community and so we met in Southampton Meeting House in February for a spiritually focused gathering led by Kate McNally, which was one of the highlights of 2024, together with a celebration of the 400th anniversary of the birth of George Fox held in July. ## **Strengthening our meetings** With the help of our Communications Coordinator, work on improving the Area Meeting and local meeting websites continued and this has brought newcomers and raised the profile of Quakerism in our area. A report on strengthening and simplifying our structures was presented to Area Meeting in July. It recognized the on-going need for improved succession planning in view of our aging and declining membership. This was evident in the request made during the year by Alderney local meeting to become a Worshipping Group, as they were too small and elderly a group to provide all the volunteers needed to run a local meeting. ## **General Committee Meetings during 2024** The General Committee was involved in general oversight, on behalf of the Area Meeting, as well as a number of specific issues: - the sale of Portsmouth Meeting House via auction was completed, the sale price was in line with the top end of its valuation; - the removal of the Area Meeting’s archive documents to a self-storage facility in Farlington, as a consequence of the sale of Portsmouth Meeting House; - the signing of a five-year, full repairing lease, with the Society of St James, a local homeless charity, for their use of Southampton Meeting House, with provision for Southampton Friends to continue to use the building on a Sunday and at other times as agreed; - continued work on a new tenancy agreement for certain rooms at Alton Meeting House; - ongoing discussions to clarify the arrangements for use of the Quay Arts Centre by IoW Meeting; - - ongoing discussions about licences relating to Winchester Meeting and another charity; ## **Safeguarding** Our Area Meeting Safeguarding Coordinator and Deputy Safeguarding Coordinator are both full members of the General Committee of charity trustees, and sit on the Human Resources subgroup which includes safeguarding. Each local meeting has a safeguarding coordinator or contact and they can contact the AM coordinators at any time. The coordinators have helped local meetings deal with various safeguarding issues over the year. These have all been about vulnerable or challenging adults and are all in hand. In 2024 all enhanced DBS checks for those working with children or supporting vulnerable adults in pastoral care were completed. In the Channel Islands there is now a safeguarding contact on behalf of Jersey and Guernsey local meetings (Alderney having been laid down as a formal Quaker meeting). Updating of DBS checks is underway. Page 3 **Hampshire & Islands Area Quaker Meeting** **Report of the Trustees for the Year Ended 31st December 2024** ## **ACHIEVEMENT AND PERFORMANCE** ## **Environmental Sustainability** Area Meeting’s Sustainability Action Group (AMSAG), met ten times during 2024 and reported to each Area Meeting for business. It looked at resources such as books, podcasts and programmes that were helpful in finding ways forward and informing about the current state of the climate crisis. In January, Christelle Blunden spoke about “active hope”, something that is much needed. Although AMSAG meetings are normally held via Zoom, in June there was a welcome opportunity for an in-person meeting at Southampton meeting house just before the General Election where ways to encourage local MPs to take sustainability issues seriously and suggestions of questions to put to candidates at hustings were discussed. Throughout 2024 the issue of Ecocide and the lack of response from Britain Yearly Meeting to the Area Meeting’s request that BYM affiliate to the “Stop Ecocide Campaign” occupied the group. It was a time of considerable frustration with regard to this concern. By the end of the year it became evident that we had done all we could on the issue with BYM only committing to a 'watching brief' on the matter. It was agreed that a different agenda and speakers from other issues of sustainability would be arranged in 2025. ## **FINANCIAL REVIEW** ## **Financial position** The Statement of Financial Activities of the Area Meeting includes the funds of the eleven Local Meetings and the McBain Fund. The funds held by the Area Meeting at 31st December 2024 are £3,022,186 (2023 £2,883,421). We made a surplus of £303,741 (2023: surplus £54,045) before revaluations i.e. not including the “notional” changes in value of our properties and stock-market investments. The notional value of our investments decreased by £576 (2023: increase of £45,364). The surplus actually hides a deficit of £65,668 before inclusion of the net sale proceeds of Portsmouth Meeting House, £369,409. We received no legacies for AM general use and £22,271 for Winchester Local Meeting, £2,000 for Alton Local Meeting and £500 for Andover in 2024 (2023: £46,102 for AM general use and £45,000 for Southampton Local Meeting). Restricted funds (legacies and trusts with restrictive conditions) belonging to Local Meetings are shown separately from Area Meeting restricted funds. Some Local Meeting restricted funds are managed by Area Meeting. Local Meetings' unrestricted general funds, and those legacy funds for which there is no stronger restriction than that they are left to a particular Local Meeting, are listed as designated funds of the Area Meeting. Most of the income required by the Area Meeting for its general purposes is contributed by Local Meetings, by a formula based on the number of members and attenders in each Meeting. At 31st December 2024 the membership of the Area Meeting was 242 plus 124 attenders (December 2023: 250 plus 138 attenders). The total income from contributions to AM and LMs in 2024 was £104,797 (2023: £89,829). Meeting House hirings in 2024 brought in £72,669 (2023: £65,689). Expenditure on hardship grants by the restricted McBain fund was £3,546 (2023: £18,917). Advertising the McBain fund nationally in "The Friend" continues to draw applicants from outside the Area Meeting. Page 4 **Hampshire & Islands Area Quaker Meeting** ## **Report of the Trustees for the Year Ended 31st December 2024** ## **FINANCIAL REVIEW** ## **Investments and Savings** We expected to spend out the McBain Fund but applications were few and £29,927 of the Fund remains in our savings accounts at the end of 2024 (£33,970 at end 2023). Our stock-market investments are managed by Rathbone Greenbank, which monitors their performance and makes minor adjustments to try to counter adverse market conditions. They nevertheless made a loss of 0.2% in notional value. Over the year the Consumer Price Index (CPI) inflation measure fell from 3.2% in March to 2.5% in December. We raised a query with our financial adviser Mike Head of Ethical Investors Ltd. and met him on 1st April 2025 to review our Rathbone Greenbank-managed investments. We receive regular notifications of significant purchases and disposals of investments within our portfolio. Given the disappointing performance and continuing volatility of the stock market, we chose not to invest further funds there in 2024. We received the proceeds of sale of Portsmouth Meeting House £369,409 in October 2024 and placed this in our Epworth “Cash Plus for Charities” savings account, where the interest rate in 2024 fell from 5.33% in January to 4.70% in November-December. (Epworth earns interest on this account by short-term lending to a set of major banks screened for financial reliability, and engages vigorously with their managements over ethical lending policy). The AM had two employees on general work and three on wardenship duties at Winchester Meeting House at the beginning of 2024. At the end of the year there was one employee on general work, the Communications Co-ordinator, paid for out of the Nott legacy; and three wardens. General Committee agreed in 2024 to the outsourcing of payroll functions for all AM employees, and this was taken on by Smallman and Co. in July 2024. ## **Reserves policy** The AM follows Britain Yearly Meeting's model policy, which is that unrestricted funds cover: 1. Known future spending commitments; 2. An estimate of the next five years' large property repair costs; 3. A provision for a reduction in voluntary income; 4. A reserve of three months' expenditure to cover cash flow fluctuations. and that surpluses to this amount should be spent within ten years and deficits made up within five years. We estimated the above amounts from the past five years’ accounts with an inflator of 3.6% (was 3.3%) on the property repair costs, as ~£474k. Our unrestricted and undesignated reserves from Note 19 below are ~£1,191k so we have an excess of ~£717k. This is mostly the proceeds of sale of Portsmouth Meeting House, on the designation of which the AM has yet to decide. The AM is keeping reserves under review as risks evolve. Page 5 Jl¥mpshirc & Isl#Nds QuAker Mteti&R Reyorl of(he Trusteej for ¢hc YeAr Ettdcd 315t D¢¢tmbtr 2024 SI'RucfuR4 GOVEBJIANCE AND MANAGEMENT Cb*rlty LOn&tituiioa The affuirs of the Hampshire 8nd IsI￿ndS Area Quaker Meeiitig {Aru M¢eting) art go%'¢rncd by "(￿ker Faith dnd PrJ¢tice'. Ihe Bth)k of Discipline of BTitsin Ytarly Mceiing IBYM}. The Area Meeiing was entered In the Register of CharitiC5 as * CIMEitablc Ir￿or￿)raI£d O￿anIsatiOn {CIOk regIStr￿d Dumber 1186058. on 30 (knoFtr 2019 2nd it IS governed by ILS coL%tiiuiion 2dopted on 14 September ?019. Tr m¢¥nb¢ts of tk Am Mceting all thos¢ F¢f50llS whLlS¢ are for th¢ IK'Én8 r¢corded in ils 4Jtriiial re¥iiirr. The Area Mttiin8 chan8ed from bein8 an unl￿0[[￿￿ cbariry io a CIO on 30 2019 alld 2112ssets of the unincorpDrakd clwiiy 1113421J} ID ihc CIO from 31 Ekctmkn 2019. The UDiDCOqM)fdtrd chariiy was di5$01ved by A resol￿1(￿ of Area Meeling in session ots 8 May ￿21 ID 3¢cordatt¢ with its Boverning dOCw￿L In 2U21 jeT￿Y IxvJl MttliDg Initia￿ re￿￿￿tIon as a chanty with of Jew, allowing it relief o diinalioTLS: Ihis pr(K￿ c(wnple*d in 21)23. Je￿Y al4) gets relief of Je￿Y des tax on eX￿di1￿￿ cm ihe Ll￿al Mttiing. Gw Meeting had registered with the Bailiwt¢kofGuew for this purJxFS¢ in early 21KKl& b it And Aliknw Mee¢in8 ￿tTe obli8ed io rtrre8iSterdwiti82022Q3 by new leBislatio lkne CIO Sppthnts A G¢t*ral QJnllUit*¢ to ¥1 as ¢lurity tru#ees of tl* AR& Meeting in ac£ord2nce with its consxilutson whiLh LThtsblis4Kyl th¢ CIO a% a k'gai ¢¥blily. The YDIC of ik G£￿er￿] cO￿￿nItIce falls into two parts. Firsl as ¢hrity tntsTees the of Gcn¢rdl Cornrnit aci as rcprc5cntativ&s of the charity irÈ all comtttunÈcations with ￿ Ch￿lty COMMI￿0￿ and as an Inter[T￿lary Nren the Arca Mecting and Ihe Clwity CotDmissioL Secon¢ Genclal Committee ts apwTrit)*d by Area MeetiDg to acL dir¢c*d its llwttcT5 tr]aung to rKow. and buman reSoLWc￿ Such actÉvitics play ao imporrani part UJ win8 aDd main￿1￿8 the aJKI xtivitÈcs orAl￿ Mceting and kts congiweni I¢K21 mceTing The 4PPTvach ackn¢)wlcd8es how in praaice nKOt loca] m¢win8S take day-tfyday Fcwtsibility f(Y their finwKes and prnises. a5 well a5 thc spirittlll and wcial &NK¢ts of tkÉr t￿11￿￿> L￿1 Tnrrting5 will bc a55i4ed tn thi5 by the BuidatJ¢¢ ¢oMained in QMk¢r F"aith & Prnrticc. Area MLfting policy d(KUr￿l￿ 2nd Monorandum of UndcT*3nding duLLani￿1b. ￿ wvll as adviLY frutD B YM a￿j irLludin¥ of Church ALzuunLu]ts" an¢J Trusu (ACATI. The ithffcTrth groups Within Meettng C￿eT￿l C(xnmittee will work with meeiillss Ls req5￿eke {l>tak¢r le3rning 2nd ￿Search orbDani5ation} and by ACAT. L￿dE Meeiing5 conduct thcir business M￿￿￿8$ as far as possible. maw theif nwn affAirq The Arefy MeaiD8 also nominaies one member w)d one altrrnllle Io serve on Mtrting for Svfferings th2 exttlltiV¢b(￿y of BritaÈn Yedrly Meeting of ihL' Religiotjs Sc¢iery of Frier#ts. Ilth S Appiovcd by order oftk knrd of InL￿ttS oo.. .. ye1rt￿￿26I5 .. and sigvd on its beh￿rbY.. Slk Shcila Pe2C￿- Treaswer SLLsan Stsn¢k- CIcTk of Ilamp5h¥r¢ 141artds Arca Quaker M&iiTh8 Pa8c 6 **Independent Examiner's Report to the Trustees of Hampshire & Islands Area Quaker Meeting** ## **Independent examiner's report to the trustees of Hampshire & Islands Area Quaker Meeting** I report to the charity trustees on my examination of the accounts of Hampshire & Islands Area Quaker Meeting (the Trust) for the year ended 31st December 2024. ## **Responsibilities and basis of report** As the charity trustees of the Trust 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 Trust's 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** Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of The Institute of Chartered Accountants in England and Wales which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. 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. Sarah Alexander FCCA FCA Lewis Brownlee (Chichester) Limited Chartered Accountants Appledram Barns Birdham Road Chichester West Sussex PO20 7EQ Date: ............................................. 26 September 2025 Page 7 ## **Hampshire & Islands Area Quaker Meeting** ## **Statement of Financial Activities for the Year Ended 31st December 2024** |Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
Other trading activities
3
Investment income
4
Other income
5
**Total**
**EXPENDITURE ON**
Raising funds
6
**Charitable activities**
7
Quaker activities
**Total**
Net (losses)/gains on investments
**NET INCOME/(EXPENDITURE)**
**Transfers between funds**
19
**Other recognised (losses)/gains**
Losses on revaluation of fixed assets
16
**Net movement in funds**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
129,568
76,742
64,833
417,249
688,392
100,003
279,559
379,562
(353)
308,477
500
(164,400)
144,577
2,757,647
2,902,224|Restricted
funds
£
-
-
-
-
-
-
5,089
5,089
(223)
(5,312)
(500)
-
(5,812)
125,774
119,962|2024
Total
funds
£
129,568
76,742
64,833
417,249
688,392
100,003
284,648
384,651
(576)
303,165
-
(164,400)
138,765
2,883,421
3,022,186|2023
Total
funds
£
185,931
72,804
63,964
44,203
366,902
87,336
225,521
312,857
45,364
99,409
-
42,000
141,409
2,742,012
2,883,421| |---|---|---|---|---| The notes form part of these financial statements Page 8 Slteet 31st Deeember2024 Total Notrs Herit*ge assets Tan8ibk &ssds knves¢meits 13 14 4.071 4,071 8,142 15 16 843.007 921 72.536 91S.S43 92&iJ) 1.76($78 $36 1.841.114 2.020.162 Deb CaEtrL at b 17 45.102 1,11%784 45.102 37.255 1,157.886 47,426 1205,312 873,939 CREDITORS Amowty fallthgdu¢ wlthiti on¢ y¢ 18 (24240) (24340) (10,680) 47.426 1,181,orA LIABILITIL8 119.962 3.OU186 2.881421 NET A&8 19 2.901224 2.757.647 186 2883421 li lil Sepfthrtber 2oS qhp4lA Pe•efiek.Trpwnr **Hampshire & Islands Area Quaker Meeting** **Notes to the Financial Statements for the Year Ended 31st December 2024** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. In the event of the winding up of the CIO, the members will not have any liability to contribute to its assets, nor any personal responsibility for settling its debts and liabilities. The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. The financial statements incorporate the affairs of Hampshire & Islands Area Quaker Meeting and the 10 Local Meetings with separate accounts, being: |Alderney|Guernsey|Portsmouth| |---|---|---| |Alton|Isle of Wight|Southampton| |Andover|Jersey|Winchester| |Basingstoke||| ## **Financial reporting standard 102 - reduced disclosure exemptions** The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': - the requirements of Section 7 Statement of Cash Flows. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Donations and gifts are included in the Statement of Financial Activities when receivable. Legacy gifts are recognised on a case by case basis following grant of probate and when the Charity has been notified of the amount and settlement date. Investment income is recognised on a receivable basis and is shown gross of income tax recovered and recoverable. Other income is accounted for on the basis of amounts receivable for the year. In accordance with the Charities SORP (FRS 102), unpaid general volunteer time is not recognised in the financial statements. continued... Page 10 **Hampshire & Islands Area Quaker Meeting** **Notes to the Financial Statements - continued for the Year Ended 31st December 2024** ## **1. ACCOUNTING POLICIES - continued** ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. All expenses are claimed retrospectively against receipts, or paid directly against a service provider’s invoice rather than through the claimant. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. ## **Raising funds** These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds. ## **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. The remaining fixed assets are carried at cost, net of depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives. Depreciation is provided on the following basis: Computer equipment - 25% straight line ## **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 s 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** Fixed asset investments are included at market value at the balance sheet date. In accordance with standard valuation practice, investment properties have been valued on the basis of a capitalised rental stream applying a 5% yield. Since most of these properties are tenanted, they could not be sold with vacant possession and so an investment approach is considered more appropriate. continued... Page 11 **Hampshire & Islands Area Quaker Meeting** ## **Notes to the Financial Statements - continued for the Year Ended 31st December 2024** ## **1. ACCOUNTING POLICIES - continued** ## **Investments** Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal. Unrealised gains and losses represent the movement in market value during the year and are credited or charged to the Statement of Financial Activities based on the market value at the end of the year. ## **Taxation** The Charity is exempt from tax on its charitable activities. The Charity is not registered for VAT and is therefore unable to recover VAT on any expenditure it incurs. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Designated funds are unrestricted funds set aside at the discretion of the trustees for specific purposes. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **2. DONATIONS AND LEGACIES** |Donations (Inc. gift aid)
Legacies & gifts
**3.**
**OTHER TRADING ACTIVITIES**
Meeting house hirings
Other income (Inc. Residential Weekends)
Miscellaneous income
**4.**
**INVESTMENT INCOME**
Rents received
Interest & dividends received
**5.**
**OTHER INCOME**
Housing Project rent
Sale of Portsmouth Meeting House|2024
£
104,797
24,771
129,568
2024
£
72,669
11
4,062
76,742
2024
£
32,533
32,300
64,833
2024
£
47,839
369,410
417,249|2023
£
89,829
96,102
185,931
2023
£
65,689
7,035
80
72,804
2023
£
40,305
23,659
63,964
2023
£
44,203
-
44,203| |---|---|---| continued... Page 12 **Hampshire & Islands Area Quaker Meeting** ## **Notes to the Financial Statements - continued for the Year Ended 31st December 2024** ## **6. RAISING FUNDS Investment management costs** |Wages
Letting agents fees
Maintenance to investment properties
Insurance
Repairs & maintenance costs
Utilities
Independent examiner fee
Bookkeeping fees
Administration costs
Meeting House improvement project
Burial grounds
|2024
£
27,661
4,465
7,467
3,543
35,587
10,023
2,544
1,163
4,444
1,585
1,521
100,003|2023
£
22,530
4,209
8,260
3,835
23,256
15,723
2,400
960
3,092
1,723
1,348| |---|---|---| |||87,336| |**7.**
**CHARITABLE ACTIVITIES COSTS**
Direct
Costs (see
note 8)
£
Quaker Activities
26,405
**8.**
**DIRECT COSTS OF CHARITABLE ACTIVITIES**
Training and conferences
Meeting attendances
Printing, postage & stationery
Outreach
Meeting support costs (Inc. Residential Weekend)
Administration
Room and equipment hire
**9.**
**GRANTS PAYABLE**
Quaker Activities
The total grants paid to institutions during the year was as follows:
BYM Contribution
Other Donations - Quaker charities
Other Donations - non-Quaker charities
Grants to individuals|Grant
funding of
activities
(see note
9)
£
126,137
|Support
costs (see
note 10)
£
132,106
2024
£
5,775
-
1,202
3,136
3,033
4,185
9,074
26,405
2024
£
126,137
2024
£
47,570
3,864
69,905
4,798
126,137|Totals
£
284,648| |---|---|---|---| ||||2023
£
3,398
186
1,434
5,755
2,814
2,480
7,800
23,867
2023
£
89,352| ||||2023
£
45,380
1,900
22,975
19,097| ||||89,352| continued... Page 13 **Hampshire & Islands Area Quaker Meeting** ## **Notes to the Financial Statements - continued for the Year Ended 31st December 2024** ## **10. SUPPORT COSTS** |**SUPPORT COSTS**|||| |---|---|---|---| |||Governance|| ||Management|costs|Totals| ||£|£|£| |Quaker Activities|119,882|12,224|132,106| |Support costs and governance costs are allocated between raising funds (40%)||and Quaker|activities (60%)| |basis. Total costs are as follows:|||| |||2024|2023| |||£|£| |Wages||69,153|56,325| |Insurance||8,858|9,588| |Repairs & maintenance costs||88,970|58,141| |Utilities||25,058|39,307| |Meeting House improvement project||3,963|4,308| |Burial grounds||3,802|3,370| |Rent||-|-| |Independent examiner fee||6,360|6,000| |Bookkeeping fees||2,907|2,400| |Administration costs||11,106|7,730| |||220,177|187,169| |Support costs, included in the above, are as follows:|||| |||2024|2023| |||Quaker|Quaker| |||activities|
activities| |||£|£| |Wages||41,492|33,795| |Insurance||5,315|5,753| |Repairs & maintenance costs||53,381|34,885| |Utilities||15,035|23,584| |Meeting House improvement project||2,378|2,585| |Burial grounds||2,281|2,022| |Rent||-|-| |Independent examiner fee||3,816|3,600| |Bookkeeping fees||1,744|1,440| |Administration costs||6,664|4,638| |||132,106|112,302| ## **11. TRUSTEES' REMUNERATION AND BENEFITS** No trustee, or any persons connected with them, has received any remuneration for the year ended 31st December 2024 nor for the year ended 31st December 2023. ## **Trustees' expenses** Expenses were paid to three trustees (2023: three trustees) totalling £1,142 (2023: £612), for conference attendance and training courses, travel expenses. continued... Page 14 **Hampshire & Islands Area Quaker Meeting** ## **Notes to the Financial Statements - continued for the Year Ended 31st December 2024** ## **12. STAFF COSTS** |**STAFF COSTS**||| |---|---|---| |Wages and salaries
The average monthly number of employees during the year was as follows:
Part time staff
No employees received emoluments in excess of £60,000.|2024
£
69,153
69,153
2024
4|2023
£
56,325| |||56,325| |||2023
4| ## **13. HERITAGE ASSETS** As described in the accounting policies above, 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 charitable 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. The Charity is the beneficial owner of the following heritage asset properties: |Build
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 and Cottage, 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
Children's room and potting shed, 16 Colebrook Street,
Winchester, Hants, SO23 9LH
Total insured value|Insurance valuations
Buildings
Contents
1,360,000
69,930
599,816
29,033
656,087
15,957
969,218
29,821
1,334,191
74,372
72,128
1,907
2,034,859
99,101
24,426
-
7,050,725
320,121|Insurance valuations
Buildings
Contents
1,360,000
69,930
599,816
29,033
656,087
15,957
969,218
29,821
1,334,191
74,372
72,128
1,907
2,034,859
99,101
24,426
-
7,050,725
320,121| |---|---|---| |||320,121| There is also a contents value of £14,781 for the furniture and equipment held by the Isle of Wight Local Meetings 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 restrictions on disposal of the freehold according to the 2011 Scheme (298/1112), amended 2018(17/1819), of the Charity Commission applying to the old charity 1134213, responsibility for which was transferred to the trustees of the present CIO along with the properties. continued... Page 15 **Hampshire & Islands Area Quaker Meeting** ## **Notes to the Financial Statements - continued for the Year Ended 31st December 2024** ## **14. TANGIBLE FIXED ASSETS** |**COST**
At 1st January 2024
Additions
At 31st December 2024
**DEPRECIATION**
At 1st January 2024
Charge for the year
At 31st December 2024
**NET BOOK VALUE**
At 31st December 2024
At 31st December 2023
**FIXED ASSET INVESTMENTS**
**MARKET VALUE**
At 1st January 2024
Additions
Disposals
Revaluations
At 31st December 2024
**NET BOOK VALUE**
At 31st December 2024
At 31st December 2023|Listed
investments
£
916,120
-
-
(577)
915,543
915,543
916,120|Computer
equipment
£
16,286
-
16,286
8,144
4,071
12,215
4,071
8,142
Unlisted
investments
£
10,000
-
(10,000)
-
-
-
10,000|Totals
£
16,286
-
16,286
8,144
4,071
12,215
4,071
8,142
Totals
£
926,120
-
(10,000)
(577)
915,543
915,543
926,120| |---|---|---|---| ## **15. FIXED ASSET INVESTMENTS** There were no investment assets outside the UK. The listed investments are held in a diversified portfolio of unit trusts, as agreed with our advisors, Ethical Investors Group. Following a review of the investment strategy the AM initiated a rearrangement of the funds to conform more closely with its investment strategy. The single unlisted investment of £10,000 is a share in a UK alternative energy community enterprise, PEC Renewables, this was disposed of during 2024. continued... Page 16 **Hampshire & Islands Area Quaker Meeting** ## **Notes to the Financial Statements - continued for the Year Ended 31st December 2024** ## **16. INVESTMENT PROPERTY** |**FAIR VALUE**
At 1st January 2024
Revaluation
At 31st December 2024
**NET BOOK VALUE**
At 31st December 2024
At 31st December 2023|£
1,085,900
(164,400)| |---|---| ||921,500| ||921,500| ||1,085,900| The value of the Area Meeting's investment properties is calculated with a standard formula of the current rents charged representing 5% of the value. A one-seventh share in a property in Jersey, "La Chasse", which was bequeathed to Jersey LM but cannot be realised at present, has an estimated value of £125,000, unchanged since 2020. This has been added to the value of investment property. The value of the property Hannah House, managed by lessee Southern Housing Ltd. on the Hunnyhill Quaker Burial Ground site, Isle of Wight, on which it has a long lease expiring on 31/12/2115, is calculated as £4,500 applying the same 5% rate to the annual rent of £225. Portsmouth Meeting House was sold on 11/10/2024 for £380,000 to a buyer who made a pre-auction offer on 16/07/2024 after it had been entered into an auction by Pearsons Estate Agents scheduled for 17/07/2024. We received £369,409.89 net. We had an independent valuation of £360,000 - £380,000 by Nesbits Chartered Surveyors on 20/11/2023. The Meeting House had been purchased in 1955 for £3,250. Two investment properties, the Flat (formerly wardens’ flat) and Cottage, were included in the sale and have been removed from the 2024 list of investment properties; they have contributed £126,000 and £96,000, respectively, to the 2023 valuations. The properties and their values are: |**Investment Property**|**Market Value**| |---|---| |Upper Flat (formerly warden's flat) in Alton Meeting House|192,000| |Private G/F Studio Flat in Alton Meeting House|144,000| |Upper Flat (formerly wardens' flat), Basingstoke Meeting House|228,000| |Cottage (formerly wardens' flat) in grounds of Southampton Meeting House|228,000| |One-seventh share of "La Chasse", Jersey|125,000| |Hannah House, Hunnyhill, Isle of Wight|4,500| |**Total**|**921,500**| ## **17. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Debtors
Deposits held|2024
£
25,102
20,000
45,102|2023
£
17,255
20,000| |---|---|---| |||37,255| Deposits held relates to the deposit on The Rope Store Gallery, Isle of Wight, and will be refunded at the end of the licence period. continued... Page 17 **Hampshire & Islands Area Quaker Meeting** ## **Notes to the Financial Statements - continued for the Year Ended 31st December 2024** ## **18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Trade creditors
Acting as Agents
Accruals and deferred income|2024
£
17,012
868
6,360
24,240|2023
£
3,694
986
6,000
10,680| |---|---|---| Included in other creditors are amounts due regarding Acting as Agents, the balance is made up as follows: |As at 1st January 2023
Received during the year
Expended during the year
As at 31st December 2023|2024
£
986
4,132
(4,250)
868|2023
£
1,449
4,730

(5,193)
986| |---|---|---| continued... Page 18 **Hampshire & Islands Area Quaker Meeting** ## **Notes to the Financial Statements - continued for the Year Ended 31st December 2024** ## **19. MOVEMENT IN FUNDS** |**Unrestricted funds**
AM General Fund
Alice Southwell Legacy (Basingstoke)
Claire Smith Legacy (Basingstoke)
Guernsey Legacy Fund
Joyce Warwick Fund (Portsmouth)
Anne Parmeter Legacy (Jersey)
La Chasse (Jersey)
Peggy Jackson Legacy (Southampton)
Patrick Nott Legacy (IOW)
AM Property Fund
Alderney
Alton
Andover
Basingstoke
Guernsey
Isle of Wight
Jersey
Portsmouth
Southampton
Winchester
Gillian Davies Legacy (Winchester)
Portsmouth Meeting House
**Restricted funds**
AM Building Fund
McBain Fund
IOW Building Fund
IOW Legacy Fund
Alderney Trust
Sawell Fund
Winchester Building Fund
**TOTAL FUNDS**|At 1.1.24
£
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
223,431
-
2,757,647
49,605
33,970
13,688
9,465
1,046
5,000
13,000
125,774
2,883,421|Net
movement
in funds
£
(214,036)
131
(597)
-
-
(169)
-
1,068
(59,493)
(284)
282
10,669
1,926
7,022
1,921
7,214
(899)
(2,538)
(16,717)
20,744
18,051
369,782
144,077
(152)
(4,043)
(42)
(29)
(1,046)
-
-
(5,312)
138,765|Transfers
between
funds
£
85,489
(131)
-
-
-
-
-
-
(52,100)
(100)
(500)
(2,729)
(1,357)
(3,180)
(1,012)
(3,801)
(2,645)
(3,726)
(7,981)
(5,727)
-
-
500
-
-
-
(500)
-
-
-
(500)
-|At
31.12.24
£
1,089,796
5,396
1,277
5,909
5,683
55,089
125,000
328,903
77,502
92,348
899
45,502
1,576
25,738
2,809
48,439
34,472
23,113
189,348
132,161
241,482
369,782
2,902,224
49,453
29,927
13,646
8,936
-
5,000
13,000
119,962
3,022,186| |---|---|---|---|---| continued... Page 19 **Hampshire & Islands Area Quaker Meeting** ## **Notes to the Financial Statements - continued for the Year Ended 31st December 2024** ## **19. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: |**Unrestricted funds**
AM General Fund
Alice Southwell Legacy (Basingstoke)
Claire Smith Legacy (Basingstoke)
Guernsey Legacy Fund
Anne Parmeter Legacy (Jersey)
Peggy Jackson Legacy (Southampton)
Patrick Nott Legacy (IOW)
AM Property Fund
Alderney
Alton
Andover
Basingstoke
Guernsey
Isle of Wight
Jersey
Portsmouth
Southampton
Winchester
Gillian Davies Legacy (Winchester)
Portsmouth Meeting House
**Restricted funds**
AM Building Fund
McBain Fund
IOW Building Fund
IOW Legacy Fund
Alderney Trust
**TOTAL FUNDS**|Incoming
resources
£
10,124
131
46
-
-
-
7,807
-
1,646
34,509
4,163
12,963
6,011
10,800
20,376
6,433
57,236
126,365
20,000
369,782
688,392
-
-
-
-
-
-
688,392|Resources
expended
£
(59,471)
-
(643)
-
-
-
(67,300)
-
(1,364)
(23,840)
(2,237)
(5,941)
(4,090)
(3,586)
(21,275)
(8,971)
(74,806)
(106,038)
-
-
(379,562)
-
(4,043)
-
-
(1,046)
(5,089)
(384,651)|Gains and
Movement
losses
in funds
£
£
(164,689)
(214,036)
-
131
-
-
(169)
1,068
(597)
-
(169)
1,068
-
(59,493)
(284)
(284)
-
282
-
10,669
-
1,926
-
7,022
-
1,921
-
7,214
-
(899)
-
(2,538)
853
(16,717)
417
20,744
(1,949)
-
18,051
369,782
(164,753)
144,077
(152)
(152)
-
(4,043)
(42)
(42)
(29)
(29)
-
(1,046)
(223)
(5,312)
(164,976)
138,765| |---|---|---|---| continued... Page 20 **Hampshire & Islands Area Quaker Meeting** ## **Notes to the Financial Statements - continued for the Year Ended 31st December 2024** ## **19. MOVEMENT IN FUNDS - continued** ## **2023 Comparatives for movement in funds** |**Unrestricted funds**
AM General Fund
Alice Southwell Legacy (Basingstoke)
Claire Smith Legacy (Basingstoke)
Guernsey Legacy Fund
Joyce Warwick Fund (Portsmouth)
Anne Parmeter Legacy (Jersey)
La Chasse (Jersey)
Peggy Jackson Legacy (Southampton)
Patrick Nott Legacy (IOW)
AM Property Fund
Alderney
Alton
Andover
Basingstoke
Guernsey
Isle of Wight
Jersey
Portsmouth
Southampton
Winchester
Gillian Davies Legacy (Winchester)
**Restricted funds**
AM Building Fund
McBain Fund
IOW Building Fund
IOW Legacy Fund
Alderney Trust
Sawell Fund
Winchester Building Fund
**TOTAL FUNDS**|At 1.1.23
£
1,065,759
5,396
2,438
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
2,602,668
46,818
51,628
12,919
8,933
1,046
5,000
13,000
139,344
2,742,012|Net
movement
in funds
£
52,188
99
(564)
-
-
3,105
-
14,191
(12,001)
2,379
(139)
13,550
925
5,826
266
247
7,239
(275)
54,760
4,772
8,411
154,979
2,787
(17,658)
769
532
-
-
-
(13,570)
141,229|Transfers
between
funds
£
100,396
(99)
-
-
-
-
-
-
(66,800)
-
(500)
(2,838)
(1,430)
(3,287)
(880)
(4,246)
(2,552)
(4,488)
(7,780)
(5,496)
-
-
-
-
-
-
-
-
-
-
-|At
31.12.23
£
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
223,431
2,757,647
49,605
33,970
13,688
9,465
1,046
5,000
13,000
125,774
2,883,421| |---|---|---|---|---| continued... Page 21 **Hampshire & Islands Area Quaker Meeting** **Notes to the Financial Statements - continued for the Year Ended 31st December 2024** ## **19. MOVEMENT IN FUNDS - continued** 2023 Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
AM General Fund
Alice Southwell Legacy (Basingstoke)
Claire Smith Legacy (Basingstoke)
Guernsey Legacy Fund
Anne Parmeter Legacy (Jersey)
Peggy Jackson Legacy (Southampton)
Patrick Nott Legacy (IOW)
AM Property Fund
Alderney
Alton
Andover
Basingstoke
Guernsey
Isle of Wight
Jersey
Portsmouth
Southampton
Winchester
Gillian Davies Legacy (Winchester)
**Restricted funds**
AM Building Fund
McBain Fund
IOW Building Fund
IOW Legacy Fund
Winchester Building Fund
Cadbury Fund
**TOTAL FUNDS**|Incoming
resources
£
51,570
99
45
-
-
-
8,999
-
1,524
30,226
2,956
13,792
3,391
9,729
15,836
10,305
101,600
111,567
-
361,639
-
263
-
-
-
5,000
5,263
366,902|Resources
expended
£
(46,517)
-
(609)
-
-
-
(21,000)
(3,000)
(1,663)
(16,676)
(2,031)
(7,966)
(3,125)
(9,482)
(8,597)
(10,580)
(49,719)
(107,478)
-
(288,443)
-
(19,414)
-
-
-
(5,000)
(22,414)
(312,857)|Gains and
Movement
losses
in funds
£
£
47,135
52,188
-
99
-
-
3,105
14,191
(564)
-
3,105
14,191
-
(12,001)
5,379
2,379
-
(139)
-
13,550
-
925
-
5,826
-
266
-
247
-
7,239
-
(275)
2,879
54,760
683
4,772
8,411
8,411
81,783
154,979
2,787
2,787
1,493
(17,658)
769
769
532
532
-
-
-
-
5,581
(13,570)
87,364
141,229| |---|---|---|---| ## **Restricted Funds** These Funds are administered by the AM Treasurer and team but may be managed by committees. - **AM Building Fund** was opened in 2009 with the transfer of the balance of the restricted Petersfield Legacies. - **Marjorie Frances McBain Fund** is for members of the Religious Society of Friends who are in need, hardship or distress. - **IoW Building Fund** is for loans to meetings improving or adding to premises. - **IoW Legacy Fund** is for the development of the meeting, particularly in outreach, on the Isle of Wight. continued... Page 22 **Hampshire & Islands Area Quaker Meeting** **Notes to the Financial Statements - continued for the Year Ended 31st December 2024** ## **19. MOVEMENT IN FUNDS - continued** ## **LM Restricted Funds** The funds are managed by constituent Local Meetings under the terms of the Legacy or Trust. - **Alderney Trust** is for those in need or for other charitable purposes, particularly on the Island of Alderney. It was spent out in 2024. - **Winchester Building Fund** - donation in respect of Winchester buildings from the George Cadbury Fund. **- Sawell Fund** - grant to Winchester Local Meeting to cover professional fees for investigation/development of a new worship space. ## **AM Designated Funds** - **AM Property Maintenance Fund** has been set aside in order to make provision for future expenditure on the maintenance and insurance of Meeting Houses. **- Portsmouth Meeting House** – funds set aside from the sale proceeds of the sale of Portsmouth Meeting House. ## **LM Designated Funds** - **Alice Southwell Legacy** is for the general charitable purposes of the Meeting in Basingstoke. - **Claire Smith Legacy** is for the general charitable purposes of the Meeting in Basingstoke. - **Guernsey Legacy Fund (Barbara Wright and Pat Hancock)** is for the general charitable purposes of the Meeting in Guernsey. - **Joyce Warwick Fund** is for the general charitable purposes of the Meeting in Portsmouth. - **Peggy Jackson Legacy** is for the general charitable purposes of the Meeting in Southampton. - **Patrick Nott Legacy** is for the use of promoting Quaker Christian Witness on the Isle of Wight. - **Anne Parmeter Legacy** is for the general charitable purposes of the Local Meeting in Jersey. - **Gillian Davies Legacy** is for the general charitble purposes of Winchester Local Meeting. ## **Transfers between funds** Transfers between funds relate to yardstick contributions payable from each Local Meeting to the AM General Fund. Transfers from AM restricted or designated funds to Local Meeting funds for expenditure appropriate to the restriction or designation are also shown. ## **20. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31st December 2024. Page 23 ## **Hampshire & Islands Area Quaker Meeting** ## **Detailed Statement of Financial Activities for the Year Ended 31st December 2024** |**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations (Inc. gift aid)
Legacies & gifts
**Other trading activities**
Meeting house hirings
Other income (Inc. Residential Weekends)
Miscellaneous income
**Investment income**
Rents received
Interest & dividends received
**Other income**
Housing Project rent
Sale of Portsmouth Meeting House
**Total incoming resources**
**EXPENDITURE**
**Investment management costs**
Wages
Letting agents fees
Maintenance to investment properties
Insurance
Repairs & maintenance costs
Utilities
Independent examiner fee
Bookkeeping fees
Administration costs
Meeting House improvement project
Burial grounds|2024
£
104,797
24,771
129,568
72,669
11
4,062
76,742
32,533
32,300
64,833
47,839
369,410
417,249
688,392
27,661
4,465
7,467
3,543
35,587
10,023
2,544
1,163
4,444
1,585
1,521
100,003|2023
£
89,829
96,102
185,931
65,689
7,035
80
72,804
40,305
23,659
63,964
44,203
-
44,203
366,902
22,530
4,209
8,260
3,835
23,256
15,723
2,400
960
3,092
1,723
1,348
87,336| |---|---|---| This page does not form part of the statutory financial statements Page 24 ## **Hampshire & Islands Area Quaker Meeting** ## **Detailed Statement of Financial Activities for the Year Ended 31st December 2024** |**Charitable activities**
Training and conferences
Meeting attendances
Printing, postage & stationary
Outreach
Meeting support costs (Inc. Residential
Weekend)
Administration
Room and equipment hire
Grants to institutions
Grants to individuals
**Support costs**
**Management**
Wages
Insurance
Repairs & maintenance costs
Utilities
Meeting House improvement project
Burial grounds
**Governance costs**
Independent examiner fee
Bookkeeping fees
Administration costs
Total resources expended
**Net income/(expenditure)**|2024
£
5,775
-
1,202
3,136
3,033
4,185
9,074
121,339
4,798
152,542
41,492
5,315
53,381
15,035
2,378
2,281
119,882
3,816
1,744
6,664
12,224
384,651
303,741|2023
£
3,398
186
1,434
5,755
2,814
2,480
7,800
70,255
19,097
113,219
33,795
5,753
34,885
23,584
2,585
2,022
102,624
3,600
1,440
4,638
9,678
312,857
54,045| |---|---|---| This page does not form part of the statutory financial statements Page 25