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##
##
|ce and administra|ce and administra|ce and administra|tive|details ofthe charity|, its Council's members
and advisers|, its Council's members
and advisers|
|---|---|---|---|---|---|---|
|Council members|||on|30June 2021|Janet Barlow
(Trustees and Directors)||
||||||Lis Burch||
||||||Chaundra
Crouch||
||||||Maria Huff||
||||||Ingrid Greenhow||
||||||Peter Kennedy||
||||||Colin Marsh||
||||||Sanjive Mahandra||
||||||Alastair Reid||
||||||Barbara Windle||
|Secretary|||||Janet Barlow||
|Editor and||Chief Executive Officer|||Joseph Jones||
|Registered||office|||Friends House||
||||||173Euston Road||
||||||London NW1 2BJ||
|Website address|||||www. thefriend. org||
|Company|registration|||number 00604838|(England
and Wales)||
|Charity registration|||number 211649||(Charity Commission|for|
||||||England
8 Wales)||
|Independent||Examiners|||Myrus Smith||
||||||Norman
House, 8 Burnell Rd||
||||||Sutton SM1 4BW||
|Bankers|||||Co-operative
Bank pic||
||||||PO Box250||
||||||Skelmersdale
WN8 6WT||
||||||CAF Bank||
||||||25 Kings
Hill Avenue||
||||||Kings Hill, West Mailing||
||||||Kent ME194JQ||
|Solicitors|||||Bindmans
LLP||
||||||236 Gray's
Inn Road||
||||||London WC1X 8HB||
|Investment||Managers|||Rathbone
Greenbank||
||||||10Queen Square,||
||||||Bristol BS14NT||
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|are immensely
thankful
to staff
ainly working
from home, to produce|who
have worked
in very
difficu
their usual
high-quality
outputs.|lt
circumsta|
|---|---|---|
|Staff:|||
|CEO & Editor ofThe Friend|Joseph Jones||
|Production
and Office Manager|Elinor Smallman||
|Sub-Editor
Journalist|George Osgerby
Rebecca Hardy||
|Advertisement
Manager|George Penaluna||
|Subscriptions
Officer|Penny
Dunn to 31 March 2021||
|Administrative
Assistant
Finance Officer|Imogen Sewell Ridley from
Elaine Bright|1 April 2021|
|Publishing
assistant
(freelance)|Gabiielle Scott||
|Friends Quarterly
Editors|Gill Sewell, Olivia Sewell Risley||
|Volunteers:|||
|Arts Correspondent|Rowena Loverance||
|Environment
Correspondent|Lauiie Michaelis||
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|
||||Notes|Funds|Funds|2021|2020|
||||||E'|F||
|Income from:||||||||
|Donations
and legacies
Charitable
activities
Investments||||36,659
330,181
5,004||36,659
330,181
5,004|38,848
359,895
5,242|
|Total||||371,844||371,844|403,985|
|Expenditure
on:||||||||
|Raising funds
Charitable
activities||||2,773
386,371|900|2,773
387,271|2,579
389,028|
|Total||||389,144|900|390,044|391,607|
|Net income/(expenditure)||before||||||
|investment
gains||||(17,300)|(900)|(18,200)|12,378|
|Gains on investments|||14|52,585||52,585|5,153|
|Net income/(expenditure)|||10|35,285|(900)|34,385|17,531|
|Transfers
between
funds||||||||
|Net movement
in funds||||35,285|(900)|34,385|17,531|
|Reconciliation
offunds:||||||||
|Total funds brought|forward|||326,735|6,668|333,403|315,872|
|Total funds carried|forward|||F362,020|E5,768|F367,788|F333,403|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|DONATION|S
AND LEGA|CIES|||||
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Total|
||||Funds|Funds|2021|2020|
|||||||F|
|Donations|||4,602||4,602|6,069|
|Grant from|Religious Society of Friends,||||||
|Britain Yearly Meeting|||17,842||17,842|15,485|
|Grants from
Government|trusts
Job Retention|Scheme|10,250
3,965||10,250
3,965|11,250
6,044|
||||F36,659|FNil|f36,659|F38,848|
##
##
##
|||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|
|||Funds|Funds|2021|2020|
|||F||||
|Publishing|—The Friend and Friends|||||
|Quarterly
Advertising
and book sales
Online Friend and Digital Archive||215,190
98,732
16,259||215,190
98,732
16,259|222,672
120,688
16,535|
|||f330,181|FNil|F330,181|F359,895|
||||||||||
|---|---|---|---|---|---|---|---|---|
|4.|INVESTMENT INCOME||||||||
||||||Unrestricted|Restricted|Total|Total|
||||||Funds|Funds|2021|2020|
||Dividends|and interest from||listed|||||
||investments||||f5,004|ENII|F5,004|f5,242|
||All ofthe F5,242 recognised|||in 2020 related to unrestricted||funds.|||
|5.|COST OF|RAISING FUNDS|||||||
|||||||Support|Total|Total|
||||||Direct costs|costs|2021|2020|
||Investment|management|fees||f2,773|ENII|f2,773|F2,579|
|6.|COST OF|CHARITABLE|ACTIVITIES||||||
|||||||Support|||
||||||Direct costs|costs|Total|Total|
||Production|of printed
and|online||(note 7)|(note 8)|2021|2020|
||educational|publications|||f313,506|F73,765|F387,271|F389,028|
##
##
##
|7.|ANALYSIS OF DIRECT|C|OSTS||||
|---|---|---|---|---|---|---|
||||||Total|Total|
||||||2021|2020|
||||||F|F|
||Publication
costs
Editorial costs
Printing
and advertising|costs|||116,182
139,264
58,060|121,418
132,349
53,944|
||||||F313,506|f307,711|
|8.|ANALYSIS OF SUPPORT||COSTS||||
||||||Total|Total|
||||||2021|2020|
||||||F|F|
||Website maintenance
Office costs
Premises costs
Marketing
Subscription
and promotion
costs
Governance
costs (note 9)||||5,465
13,738
15,000
3,863
34,199
1,500|9,143
14,610
15,000
1,603
36,008
4,953|
||||||F73,765|881,317|
|9.|GOVERNANCE COSTS||||||
||||||Total|Total|
||||||2021|2020|
||||||F||
||Examination
fees
Council and trustee meetings||||1,500|1,475
3,478|
||||||E1,500|F4,953|
|10.|NET INCOME I(EXPENDITURE)||||2021|2020|
||||||F|F|
||This is stated after charging:||||||
||Depreciation
Independent
examiners'
Operating
lease rentals||remuneration||E900
E1,500
F15,000|F1,414
F1,475
F15,000|
||Pension costs (defined|contribution||scheme)|F14,045|F13,644|
##
##
##
|FOR
STAFFCOSTS|THE YEAR ENDED 30J|UNE 2021 contd||
|---|---|---|---|
|||2021|2020|
|Wages and salaries
Social security costs
Employer
pension costs
Other related employment
Freelance fees|costs|171,609
12,772
14,045
556
9,709|171,436
12,397
13,644
526
9,141|
|Pension
deficit contributions||208,691|207,144|
|||f208,691|f207,144|
|Staff costs analysed
by function:||||
|Production
and editorial||128,535|124,135|
|Advertising
Subscriptions
Friends Quarterly||50,633
28,876
647|48,744
31,619
2,646|
|||f208,691|f207,144|
|No employee
F60,000 per|received total employee
benefits
(excluding
annum
during the year (2020 —none).|received total employee
benefits
(excluding
annum
during the year (2020 —none).|received total employee
benefits
(excluding
annum
during the year (2020 —none).|received total employee
benefits
(excluding
annum
during the year (2020 —none).|received total employee
benefits
(excluding
annum
during the year (2020 —none).|received total employee
benefits
(excluding
annum
during the year (2020 —none).|employer|pension costs) of more than|pension costs) of more than|
|---|---|---|---|---|---|---|---|---|---|
|The average|number|of full and|part-time||staff,|analysed|by function|2021|2020|
|was:||||||||No.|No.|
|Production
and editorial||||||||4.0|3.8|
|Advertising||||||||1.0|1.0|
|Subscriptions||||||||1.0|1.0|
|Management|and administration||||||||0.2|
|||||||||6.0|6.0|
|The average|number|offull-time|equivalent||staff, analysed||by|||
|function was:||||||||||
|Production
and editorial||||||||1.4|3.0|
|Advertising||||||||1.0|1.0|
|Subscriptions||||||||0.8|1.0|
|Management|and administration||||||||0.2|
|||||||||3.2|5.2|
##
|or Corporation
Tax on income or gains derived
from its char
various exemptions
available
to registered
charities.|or Corporation
Tax on income or gains derived
from its char
various exemptions
available
to registered
charities.|or Corporation
Tax on income or gains derived
from its char
various exemptions
available
to registered
charities.|itable
activiti|es, as it falls|within
the|
|---|---|---|---|---|---|
|13. TANGIBLE FIXEDASSETS||||2021|2020|
|Furniture
and office equipment||||F||
|Cost||||||
|At1 July
Additions||||27,682|27,682|
|At 30June||||27,682|27,682|
|Depreciation||||||
|At 1 July
Charge for the year||||26,782
900|25,368
1,414|
|At 30June||||27,682|26,782|
|Net BookValue||||||
|30June||||&Nil|6900|
|All tangible
fixed assets are||held by the charity for use in meeting|its charitable|objects.||
|14. INVESTMENTS||||2021|2020|
||||||F|
|Listed investments:||||||
|Fair value at 1 July
Acquisitions
at cost
Disposals at opening
Unrealised
(losses) /|market value
gains on revaluation|||286,442
52,251
(33,986)
48,680|294,162
76,404
(65,625)
(18,499)|
|Fair value at 30June||||F353,387|f286,442|
|Historic cost at 30June||||f252,574|R223,425|
|||||2021|2020|
|||||F||
|Analysis of investment||gains:||||
|Unrealised
(losses) / gains on revaluation
Realised gains
/ (losses) on disposal||||48,680
3,905|(18,499)
23,652|
|||||F52,585|E5,153|
##
|||||||%of|
|---|---|---|---|---|---|---|
|||||||portfolio|
|||||||market|
|At 30June 2021 the porffolio comprised||the|following|investments:||value|
|Ishares
II Pic UK Gilts UCITS ETF|||||8,060|2.28%|
|Treasury
1/8% I/L Stock 22/03/2024
Aberdeen
Standard
Fund Managers|Gbl Index Lkd||||11,113|3 14%|
|Bond S Instl Inc|||||6,876|1.95%|
|Deutsche
Bahn Finance BV2.75%|MTN 20/06/2022||||4,101|1.16%|
|Kreditanst
Fur Wie 0.875% Gtd Snr|15/09/2026||||9,204|2.60%|
|Places for People 4.25% Bonds 15/12/2023|||||2,073|0.59%|
|Liontrust
Investments
LTD - Corporate||Bond|2||9,971|2.82%|
|Rathbone
Unit Trust Mgmt Ethical Bond S Inc (GBP)|||||16,212|4.59%|
|Royal London
Unit Trust MGRS Ethical||Bond Z inc|||10,010|2 83%|
|Keller Group PLC|||||2,005|057%|
|Marshalls
Group PLC|||||5,351|1.51%|
|Coats Group PLC 5p Ordinary|||||3,065|087%|
|Genuit Group PLC/(previous
name|Polypipe||Group)||||
|PLC 0.1p Ordinary|||||4,896|1.39%|
|Smith (DS) PLC|||||7,485|2.12%|
|Halma PLC|||||7,538|2 13%|
|Spirax-Sarco Engineering|||||10,484|2.97%|
|Experian
PLC USD 0.10Ordinary|||||3,343|095%|
|Intertek Group PLC 1p Ordinary|||||5,309|1.50%|
|Bellway PLC|||||3,888|1.10%|
|Smith &Nephew
PLC|||||6,719|1 90%|
|Dechra Pharmaceuticals
PLC|||||9,177|2.60%|
|Hikma Pharmaceuticals
PLC|||||2,935|083%|
|Marks &Spencer Group PLC|||||820|0.23%|
|Relx PLC|||||3,646|1.03%|
|Vodafone Group PLC|||||1,699|P 48%|
|SSEPLC 50p Ordinary|||||4,502|1.27%|
|National
Grid PLC|||||3,223|0.91%|
|Legal &General Group PLC|||||2,447|0.69%|
|Prudential
PLC|||||4,601|1 30%|
|ST Modwen
Properties
PLC|||||3,231|0.91%|
|Civitas Social Housing
PLC|||||2,300|P 65%|
|Home REIT PLC|||||3,616|1.02%|
|LondonMetric
Property
Ltd|||||3,471|0 98%|
|Impax Asset MGMT Group 1p Ordinary|||||9,632|273%|
|FDM Group Holdings
PLC 1p Ordinary|||||4,080|1.15%|
|Sage Group PLC|||||3,489|0.99%|
|Brown Advisory
Funds US Sustainable||Growth C Inc|||37,631|10.65%|
|LEGG MASON GLOBAL FUNDS|||||9,287|2.63%|
|Liontrust
Investments
LTD SFEuropean||Growth 2|||8,350|2 36%|
|Stewart Investors
Asia Sustainability|B|Acc|||6,358|1.80%|
|Baillie Gifford &Co|||||7,612|2.15%|
|BMO INV Funds (LUX) Responsible|Gbl EM||R Acc||6,428|1.82%|
|BMO INV FUNDS (UK) Responsible|Gbl Equit 2 Acc||||12,587|3.56%|
##
##
##
||Fund Partners
LTD IM|Fund Partners
LTD IM|WHEB Sustainability|WHEB Sustainability|WHEB Sustainability|WHEB Sustainability|WHEB Sustainability|B|Acc||12,520|3.54'/o|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||Impax Environmental
Markets PLC
Janus Henderson
Investments
Gbl Sustainable||||||||Equity|I|7,133|2.02'/o|
||Inc||||||||||13,083|3.70'/o|
||Menhaden
Capital PLC||||||||||5,292|1.50'/o|
||Schroder Investmnet|MGMT Global|||||energy||||4,974|1.41'/o|
||Digital 9 Infrastructure||PLC||||||||3,762|1.06'/o|
||Foresight Solar Fund|Ltd|||||||||3,762|1.06'/o|
||Octopus Renewables|Infrastructure
Trust PLC|||||||||4,916|1.39'/o|
||Renewables
Infrastructure||||||||||5,688|1.61'/o|
||Mayfair Capital Invest Mgmt Property||||||Inc Trust||for||||
||Charity||||||||||3,432|0.97'/o|
||||||||||||353,387|100.00'/o|
|15.|DEBTORS||||||||||2021|2020|
||Publications
debtors||||||||||10,011|4,849|
||Prepayments||||||||||775|807|
||VAT recoverable
Cash held by investment|||manager|||||||3,459
10,303|1,898
27,291|
||Other debtors|||||||||||266|
||||||||||||F24,548|f35,111|
|16.|CASH AT BANK AND||IN|HAND|||||||2021|2020|
|||||||||||||F|
||Current accounts||||||||||102,168|111,619|
||Deposit accounts||||||||||66,177|66,162|
||Cash||||||||||749|749|
||Paypal||||||||||2,456|1,230|
||||||||||||6171,550|F179,760|
|17.|CREDITORS - AMOUNTS||||FALLING||DUE|WITHIN ONE YEAR|||2021|2020|
|||||||||||||F|
||Trade creditors||||||||||24,226|11,976|
||Social security costs and|||taxation|||||||2,381|4,413|
||Deferred income
- Subscriptions||||||||||113,378|112,445|
||- BYM Grant||||||||||9,493|7,849|
||Accruals||||||||||1,500|1,500|
||Credit card||||||||||719|627|
||Bounce back loan||||||||||6,000||
||||||||||||f157,697|F138,810|
##
##
##
##
|CREDITORS - AMOUNTS|FALLING DUE AFTER MORE THAN ONE YEAR|2021|2020|
|---|---|---|---|
|Bounce back loan||24,000|30,000|
|||F24,000|f30,000|
|||2021|2020|
|||F|F|
|Amounts
falling due within:||||
|1 —2 years
2 —5 years
More than 5years||6,000
18,000|6,000
18,000
6,000|
|||F24,000|230,000|
##
||Balance||||Balance|
|---|---|---|---|---|---|
|2021|Brought|Income|||Carried|
||forward|(incl. gains)|Expenditure|Transfers|forward|
|||F||F|F|
|Unrestricted
Funds||||||
|General funds|326,735|424,429|389,144||362,020|
|Restricted
Funds||||||
|Website development
Subscription
system
Yearly Meeting|2,150
1,000||||2,150
1,000|
|-Warwick
University
Office equipment|1,307
2,211||900||1,307
1,311|
||6,668||900||5,768|
|Total Funds|F333,403|2424,429|F390,044|FNi I|2367,788|
##
|2020|Balance
Brought|Income|||Balance
Carried|
|---|---|---|---|---|---|
||forward|(incl. gains)|Expenditure|Transfers|forward|
|||||F||
|Unrestricted
Funds||||||
|General funds|307,590|408,138|388,993||326,735|
|Restricted Funds||||||
|Website development
Subscription
system
Yearly Meeting|2,934|1,000|784||2,150
1,000|
|-Warwick
University
Office equipment|1,307
4,041||1,830||1,307
2,211|
||8,282|1,000|2,614||6,668|
|Total Funds|f315,872|F409,138|f391,607|FNil|F333,403|
|ANALYSIS OF NET ASSETS|BETWEEN|FUNDS||||
||||Unrestricted|Restricted|Total|
||||Funds|Funds||
||||f.|F||
|Fixed assets
Current assets
Current
liabilities
Long term liabilities|||353,387
190,330
(157,697)
(24,000)|5,768|353,387
196,098
(157,697)
(24,000)|
|As at 30June 2021|||E362,020|E5,768|f367,788|
##
||Unrestricted|Restricted|Total|
|---|---|---|---|
||Funds|Funds|Funds|
||||P|
|Fixed assets|286,442|900|287,342|
|Current assets|209,103|5,768|214,871|
|Current
liabilities|(138,810)||(138,810)|
|Long term liabilities|(30,000)||(30,000)|
|As at 30June 2020|f326,735|f6,668|f333,403|
##
##
##
||COMMITME|NTS||2021|2020|
|---|---|---|---|---|---|
|At 30June
cancellable|2021 the total minimum
operating
leases were|payments
as follows:|due under non-|||
|Within one|year|||F15,000|F15,000|