2024-12-31-accounts - The Religious Society Of Friends (Quakers) In Wales And The Marches - Cymdeithas Grefyddol Y Cyfeillion (Crynwyr) Yng Nghymru A’r Gororau CIO

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Cymdeithas Grefyddol y Cyfeillion (Crynwyr) yng Nghymru a’r Gororau

The Religious Society of Friends (Quakers) in Wales and the Marches

Cymar

Charitable Incorporated Organisation Registered charity number: 1207878

The Religious Society Of Friends (Quakers) In Wales And The Marches - Cymdeithas Grefyddol Y Cyfeillion (Crynwyr) Yng Nghymru A'r Gororau CIO (operating as 'Cymar') Report and Unaudited Financial Statements 31 December 2024

Cymar

Reference and administrative details

For the period ended 31 December 2024

Charity number	1207878
Registered office and	Swansea Quaker Meeting
operational address	Pagefield House
	Page Street
	Abertawe
	SA1 4EZ
Trustees	The trustees who served during the year and up to the date of this report
	were as follows:
	Jeffrey Beatty	appointed 19 September 2023
		resigned 13 March 2025
	Patricia Bridgewater	Treasurer, appointed 19 September 2023
	Jeremy Brignell-Thorp	appointed 19 September 2023
	Nicholas Clapp	appointed 9 November 2024
	Iona Clare-Lyons	appointed 19 September 2023
	Gwyneth Hewitson	appointed 19 September 2023
		resigned 13 February 2025
	Erica Thomas	Chair, appointed 9 November 2024
Bankers	Co-operative Bank
	1 Balloon Street
	Manchester
	M4 4BE
Independent examiners	Godfrey Wilson Limited
	Chartered accountants and	statutory auditors
	5th Floor Mariner House
	62 Prince Street
	Bristol
	BS1 4QD

Cymar

Report of the trustees

For the period ended 31 December 2024

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Constitution and the Statement of Recommended Practice - Accounting and Reporting by Charities (effective from January 2019).

GENERAL OBSERVATIONS

The Religious Society of Friends (Quakers) in Wales and the Marches – Cymdeithas Grefyddol y Cyfeillion (Crynwyr) yng Nghymru a’r Gororau CIO (known as Cymar) is a constituent part of the Britain Yearly Meeting of the Religious Society of Friends (Quakers).

The Religious Society of Friends is a faith community with worship at its heart. Founded in 1652, a period of religious turmoil, we welcome people of all faith background who want to deepen their experience of God and find a way of living harmoniously in today’s troubled world. (BYM Trustees)

This is the first annual report of the Trustees of Cymar, covering our initial year of preparation for the transition from 5 charities – the 4 Area Meetings known as Mid Wales Area Meeting, North Wales Area Meeting, Southern Marches Area Quaker Meeting, South Wales Area Meeting and Crynwyr Cymru – Quakers in Wales into a single CIO covering all of Wales and parts of the Marches. These 5 bodies will continue to exist as Constituent Bodies of Cymar.

Transfer agreements have all been prepared and signed by trustees of both the transferee charities and of Cymar. The transfers will not happen during 2024, but are already scheduled for 00.01 a.m. on 1st January 2025, at which time Cymar will become responsible for all governance of Quakers in Wales and the Marches and its constituent bodies, with the exception of the properties held through endowment which await approval from the Charity Commission for their transfer of beneficial trustees. Friends Trust Ltd will continue to be the Custodian Trustee of all our properties.

GENERAL REMARKS ABOUT GOVERNANCE AND TRUSTEESHIP

The charity’s trustees have complied with their duty under the Charity’s Act 2011 to have due regard to public benefit published by the Charity Commission.

All trustees give their time voluntarily and do not receive any personal financial benefit from the charity. Trustees have met on a monthly basis through 2024, although the constitution requires that they meet a minimum of twice during the year. They report to a General Meeting of the CIO at least once a year; they are accountable to that General Meeting. Major decisions are made with reference to the General Meeting of Cymar, and in the light of the discernment of the 5 constituent bodies as appropriate.

Training (e.g. at Woodbrooke Quaker Study Centre) is offered to Friends who take on responsibilities on behalf of Cymar and its constituent bodies.

CONSTITUTION

The Constitution of the CIO was accepted by the Charity Commission at the time when the CIO was registered, 16th April 2024.

Cymar

Report of the trustees

For the period ended 31 December 2024

ANNUAL GENERAL MEETING AND POLICIES OF THE CIO

A first Annual General Meeting was held on 9th November 2024, at which time the following policies were adopted:

Data Protection and Privacy;
Employment;
Environment and Sustainability;
Equality and Inclusion;
Health, Safety and Risk Management;
Right Keeping of Records/Archiving; and
Finance and Reserves policies are being prepared.

OBJECTS OF THE CIO

To that end, the CIO’s income and property are used solely to further its objects by work such as:

1 strengthening the life and witness of Quakers in the Constituent Bodies of the CIO;
2 spreading the message of Quakers and interpreting and developing the thought and practice of the Religious Society of Friends;
3 undertaking Quaker service for the relief of suffering at home and abroad;
4 funding Quaker concerns in the Constituent Bodies of the CIO;
5 providing for the pastoral care of individual Members and Attenders of the Constituent Bodies including assistance to those in need and for education;
6 maintaining and developing Quaker meeting houses as places for public worship and from which to carry our witness into the world;
7 administering and maintaining the organisation of the Constituent Bodies and contributing to the support of Britain Yearly Meeting;
8 facilitating contact between Quakers of all ages, and providing opportunities for training and mutual support for those with special responsibilities, in conjunction with its Constituent Bodies and other Quaker bodies;
9 working with other churches and ecumenical and interfaith groups in Wales and the Marches;
10 representing the views of the Religious Society of Friends to the Senedd and the wider community, and other public and voluntary organisations in Wales and the Marches and beyond especially those concerned with social witness, peace and interfaith relations;
11 responding to issues which relate to living in a bilingual society, including outreach in Wales and commissioning, translating and publishing Quaker material in the Welsh language, in furtherance of the above object; and
12 representing Wales to Britain Yearly Meeting and liaising with its committees and departments where appropriate.

Cymar

Report of the trustees

For the period ended 31 December 2024

POWERS OF THE CIO

The CIO has power to do anything which is calculated to further its object or is conducive or incidental to doing so. In particular (but without limitation) the CIO’s powers include power to:

1 raise funds by donations, legacies or otherwise;
2 deposit and invest funds not immediately required for the CIO’s objects in or upon such Investments, securities or other property as the Trustees think fit in accordance with legal constraints and the Ethical Testimonies of the Religious Society of Friends;
3 arrange for the investments or other property of the CIO to be held in the name of a nominee, in such manner as the Trustees think fit;
4 employ a professional fund-manager;
5 buy, take on lease or in exchange, hire or otherwise acquire any property, and to maintain and equip it for use;
6 sell, lease or otherwise dispose of all or any part of the property belonging to the CIO (but in exercising this power, the CIO must comply as appropriate with sections 117 and 119-123 of the Charities Act 2011);
7 borrow money;
8 charge the whole or any part of its property as security for the repayment of the money borrowed (but the CIO must comply as appropriate with sections 124 and 125 of the Charities Act 2011 if it wishes to mortgage land);
9 set aside income as reserves;
10 co-operate with other organisations and churches in Wales and beyond in furtherance of the CIO’s object;
11 establish or support trusts or institutions formed for charitable purposes within the CIO’s object;
12 employ and remunerate such staff (including the payment of pensions) as are necessary for carrying out the work of the CIO; (but the CIO may employ or remunerate a Trustee only to the extent that it is permitted to do so by clause 6 (Benefits and payments to Trustees and connected persons) and provided it complies with the conditions of that clause);
13 obtain and pay for goods and services;
14 reimburse reasonable expenses, including those of the Trustees, incurred when acting on behalf of the CIO;
15 open and operate bank accounts and authorise any of the CIO’s Constituent Bodies or committees to open bank accounts, and to appoint signatories in accordance with such safeguards as the Trustees consider appropriate;
16 trade in the course of carrying out the objects of the CIO and carry on any other trade which is not expected to give rise to taxable profits; and
17 incorporate and acquire subsidiary organisations.

DEVELOPMENTS THROUGH THE YEAR

Trustees always expected this to be a journey of discovery, of building on the work that has already gone before by the Symud Ymlaen Moving Forward Group. What we are embarking on is new within the Quaker community in the UK, the merging of several Area Meetings and a National body into a single larger Charity, in the form of a Charitable Incorporated Organisation, to make it simpler to fulfil the governance requirements that are required by the Charity Commission, and to simplify the financial and accounting arrangements. We know that other regions and nations of the UK are also exploring options and thinking of going down a similar route and are looking to us to open the pathway for them, so the fact that we have encountered obstacles and are working out ways over, under or round them, we hope will make the life of others easier. We hope the lessons we have learnt, our missteps, and experiments, will serve others well.

Cymar

Report of the trustees

For the period ended 31 December 2024

One of the most significant challenges has been to find Friends willing to serve as trustees to the new Charity, who could not be trustees of one of the existing charities. This was a legal protection strongly encouraged by the Charity Commission and our solicitors to prevent any potential conflicts of interest. As a result, all those appointed as initial Trustees were new to the process and lacked the experience of the discernment by others that has been taking place over many years. With hindsight, this has probably caused some of our delays and difficulties, one of our major learning points to hand on to others will be to look more closely at an overlapping period between the preparation working group and the new trustee body and how to manage it better.

MEMBERSHIP OF THE TRUSTEE BODY DURING 2024

Jeffrey Beatty (SMAQM) Patricia Bridgewater (NWAM) Jeremy Brignell-Thorp (MWAM) Nicholas Clapp (SMAQM) (Appointed 9th November 2024) Gwyneth Hewitson (NWAM) Iona Lyons (SWAM) Erica Frances Thomas (SWAM) (Appointed 9th November 2024)

In addition, the following Friends were co-opted to support the work of appointed trustees:

Voirrey Costain-Williams (co-opted on 1st February 2024 until 9th November 2024) Linda Murray Hale (co-opted on 1st February 2024 until 9th November 2024) Erica Frances Thomas (co-opted on 5th December 2023 until 9th November 2024)

DETAILS OF KEY ROLE HOLDERS IN 2024

The Clerk of Trustees Jeremy Brignell-Thorp (until 9th November 2024) Erica Frances Thomas (from 9th November 2024) The Treasurer to the CIO Patricia Bridgewater

SAFEGUARDING REPORT

There are no incidents or other matters relating to our charity in 2024 that we should have brought to the attention of the Charity Commission (or any other appropriate body) but have not.

Linda Murray Hale fulfilled the Safeguarding Coordinator role during her period of Co-option. Iona Lyons was appointed as the Safeguarding Coordinator subsequently.

FINANCIAL REPORT

2024 has been a preparatory year for the Cymar CIO. The CIO was registered with the Charity Commission in April 2024.

The Symud Ymlaen Finance Committee had been meeting during the transition years prior to 2024 and continued to meet to support the new treasurer with the set-up of the finance and banking arrangements for the charity.

Cymar

Report of the trustees

For the period ended 31 December 2024

Preparations

Contingency Fund

At the start of the year, a contingency fund for Cymar was established from a loan of £1,000 from each Area Meeting (£4,000 in total), in order to pay for trustees’ expenses, online packages etc. This was held in the Crynwyr Cymru – Quakers in Wales (CCQW) account and managed by the CCQW treasurer until the new Cymar accounts were opened and was then transferred over.

Banking

After researching different banks, a decision was reached to bank with the Cooperative Bank, who offer ethical investments as well as a direct feed into Xero, our preferred accounting package. A new bank account was opened for Cymar in July 2024, with two further linked accounts opened shortly after, one as a confidential account to accept payments directly from Friends’ personal bank accounts and one for South Wales Area Meeting, who chose to bank separately from the other constituent bodies. A deposit account was also provided by the bank.

Banking resources were sent out to all local meeting treasurers to enable them to pay cash and cheques into the Cymar accounts. Information sheets were also prepared by the Finance Committee to prepare and provide all the necessary instructions for the forthcoming transfer of assets.

Accountancy, Bookkeeping and Payroll

A subgroup of the Finance Committee invited expressions of interest from and interviewed 5 accountancy firms in order to be able to propose auditors for Cymar. Godfrey Wilson were selected and approved at the Cymar AGM in November 2024. None of the firms interviewed however, were able to provide the level of bookkeeping that was required, and so the subgroup interviewed Mindful Business Services (MBS) on a recommendation from the Britain Yearly Meeting treasurer. MBS were appointed as our bookkeepers and trustees confirmed this at the November AGM.

For 2025, the following arrangements will be in place:

Cymar, North Wales, Southern Marches AMs – bookkeeping will be carried out by MBS;
Mid Wales, South Wales AMs – bookkeeping will be carried out by the AM treasurers, supported by other Friends; and
CCQW – bookkeeping will be carried out by the CCQW treasurer.

Trustees agreed to approach Harris Bassett, who already provided payroll for one employee, to provide payroll services for both Cymar employees, namely the CCQW co-ordinator and the Swansea cleaner. This arrangement is now in place for 2025.

Accountancy Packages

On advice from the Finance Committee, Trustees decided to purchase Xero as our online accounting package. Xero had been used by 3 of the ‘old’ charities during the preparatory years prior to 2024. The bank feeds did not start, however until January 2025 so all 2024 transactions have been input manually.

On advice from the BYM treasurer, Fund Filer was purchased in order to manage Gift Aid for all of Cymar on a monthly basis. New standing order and Gift Aid forms were sent out with a letter requesting that, wherever possible, Friends set up online payments for their donations to their local meetings.

Cymar

Report of the trustees

For the period ended 31 December 2024

Policy Documents

Terms of Reference for a new Cymar Finance Committee were drafted and approved at the November AGM. A draft Finance Risk Register was prepared. A Finance Policy and Financial Procedures were drafted by the Finance Committee and circulated to local meeting treasurers, with an intention to review after 3 months. A Reserves Policy had been drafted by the Symud Ymlaen Finance Committee and at the time of signing, is still in draft.

Accounts

The transfer of assets of the old charities had been anticipated from the summer of 2024 but was held up by various complications and did not eventually go ahead until 1st January 2025. Therefore, the only banking transactions in the Cymar accounts in 2024 were those for the new charity itself and a few early payments in preparation for the following year. No Area Meeting transactions were carried out in the Cymar accounts in 2024.

Income

A budget and a schedule of contributions from Local Meetings to Cymar was set up and agreed for 2024 in order to cover Cymar costs. South Wales, Southern Marches and Mid Wales Area Meetings collected these from the local meetings and paid their contributions in one lump sum. North Wales local meetings paid their contributions directly to Cymar. Some contributions were paid in 2024 and some, in early 2025.

A grant application was also submitted to Britain Yearly Meeting for £20,000 to help ease the burden of the merger costs. This was successful and was received in 2025.

Income in 2024 totalled £31,250, consisting of donations from Meetings and individuals.

This, and other receipts in 2024 consisted of:

The remainder of the contingency fund that was transferred from CCQW;
Payments and donations for a CCQW residential planned for April 2025;
Early donations for local meetings;
Contributions from Area Meetings to cover Cymar costs; and
▪ One early payment from a Bangor hirer.

Where receipts related to 2025, or entitlement had not been met to recognise the income, the balances have been shown in deferred income as detailed in note 7 to the financial statements.

Expenditure of £3,385 consisted of:

Reimbursement expenses to trustees and other members;
Translation into Welsh of documents and interpretation for the AGM;
Online packages – Xero, Fund Filer; and
Bookkeeping set up support.

Reserves

At 31 December 2024, the charity held £27,865 in reserves, all of which was unrestricted. As noted above, a Reserves Policy had been drafted by the Symud Ymlaen Finance Committee and at the time of signing, is still in draft.

Cymar

Report of the trustees

For the period ended 31 December 2024

Statement of responsibilities of the trustees

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and the incoming resources and application of resources, including the net income or expenditure, of the charity for the year. In preparing those financial statements the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and accounting estimates that are reasonable and prudent;
▪ state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity have no liability in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

Independent examiners

Godfrey Wilson Limited were appointed as independent examiners to the charity during the year and have expressed their willingness to continue in that capacity.

Approved by the trustees on 2 July 2025 and signed on their behalf by

Patricia Bridgewater - Treasurer

Independent examiner's report

To the trustees of

Cymar

I report to the trustees on my examination of the accounts of Cymar (the CIO) for the period ended 31 December 2024, which are set out on pages 10 to 15.

Responsibilities and basis of report

As the charity trustees of the CIO 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 CIO’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters 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 CIO 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.

William Guy Blake

Date: 2 July 2025 William Guy Blake ACA Member of the ICAEW For and on behalf of:

Godfrey Wilson Limited

Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD

Cymar

Statement of financial activities

For the period ended 31 December 2024

For theperiod ended 31 December 2024
Note Income from: Donations and legacies 2 Total income Expenditure on: Charitable activities Total expenditure 3 Net income and net movement in funds 4 Reconciliation of funds: Total funds brought forward Total funds carried forward	9 months 2024 Total £ 31,250
	31,250
	3,385
	3,385
	27,865 -
	27,865

All income and expenditure in the period was unrestricted.

Cymar

Balance sheet

As at 31 December 2024

Note Current assets Debtors 6 Cash at bank and in hand Liabilities Creditors: amounts falling due within 1 year 7 Net current assets Net assets Funds Unrestricted funds Total charity funds Approved by the trustees on 2 July 2025 and signed on their behalf by	£ 6,232 36,316 42,548 (14,683)	2024 £ 27,865
		27,865
		27,865
		27,865

Patricia Bridgewater - Treasurer

Cymar

Notes to the financial statements

For the period ended 31 December 2024

1. Accounting policies

a) General information and basis of preparation

Cymar Charity is a Charitable Incorporated Organisation registered in England and Wales. The registered office address is Swansea Quaker Meeting, Pagefield House, Page Street, Abertawe, SA1 4EZ.

The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Cymar meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b) Going concern basis of accounting

The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. There are no material uncertainties about the charity's ability to continue as a going concern.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.

d) Funds accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity.

e) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

f) Allocation of support and governance costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated in full to charitable activities.

Cymar

Notes to the financial statements

For the period ended 31 December 2024

1. Accounting policies (continued)

g) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

h) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

i) Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

j) Financial instruments

The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

k) Accounting estimates and key judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

There are no sources of estimation uncertainty impacting on these financial statements.

2. Income from donations and legacies

Donations Total income from donations and legacies	9 months 2024 Total £ 31,250
	31,250

All income in the period was unrestricted.

Cymar

Notes to the financial statements

For the period ended 31 December 2024

3. Total expenditure

Total expenditure
Audit & accountancy fees Travel & accommodation Translation Subscriptions Staff training Printing, postage and stationery Events costs General materials & supplies Sub-total Allocation of support and governance costs Total expenditure	£ - - - - - - - - - 3,385 3,385 Charitable activities	£ 2,060 515 490 132 85 80 16 7 3,385 (3,385) - Support and governance costs	£ 2,060 515 490 132 85 80 16 7 9 months 2024 Total
			3,385 -
			3,385

Total governance costs were £1,680.

Cymar

Notes to the financial statements

For the period ended 31 December 2024

4. Net movement in funds

This is stated after charging:

Trustees' remuneration Trustees' reimbursed expenses Independent examiner's remuneration	2024 £ Nil 147 1,400

In common with other charities of our size, our independent examiners also assist in the preparation of our financial statements.

During the reporting period, one trustee was reimbursed for expenses related to travel and parking incurred while attending trustee meetings.

5. Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

6. Debtors

Accrued income	2024 £ 6,232
	6,232

7. Creditors: amounts falling due within 1 year

Creditors: amounts falling due within 1 year
Trade creditors Accruals Loans Deferred income	2024 £ 80 1,931 2,000 10,672
	14,683

Deferred income relates to room hire, and donations received by Cymar on behalf of its constituent bodies prior to the transfer of assets from these bodies to Cymar on 1 January 2025, at which point entitlement to the income was met.

8. Related party transactions

There were no related party transactions in the period.