## **FRIENDS HOUSING BURSARY TRUST**
## **TRUSTEES ANNUAL REPORT AND ACCOUNTS**
## **Year ended 31 December 2025**
Contents LEGAL AND ADMINISTRATIVE INFORMATION..................................................................2 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025...................3 Objectives and Activities.................................................................................................3 Structure, Governance and Management.......................................................................3 Risk Management...........................................................................................................4 Achievements and Performance.....................................................................................4 Financial Review.............................................................................................................4 INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF FRIENDS HOUSING BURSARY TRUST.................................................................................................................6 RECIPTS AND PAYMENTS FOR THE YEAR ENDED 31 DECEMBER 2025.......................7 STATEMENT OF ASSETS AND LIABILITIES AT 31 DECEMBER 2025...............................8
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Charity Registration Number 212218
FRIENDS HOUSING BURSARY TRUST Trustees Annual Report and Accounts to 31 December 2025
## **LEGAL AND ADMINISTRATIVE INFORMATION**
Trustees in 2025 Fred Ashmore Alison Butterfield Richard Lasson Peter Maple Debbie Abel Registered in England & Wales, Charity Number 212218 Principal Address The Clerk Friends Housing Bursary Trust Kingston Quaker Centre Fairfield East Kingston KT1 2PT Independent Examiner Debby Metcalf 22 Trowlock Ave Teddington TW11 9QT Bankers CAF Bank 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
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Charity Registration Number 212218
FRIENDS HOUSING BURSARY TRUST Trustees Annual Report and Accounts to 31 December 2025
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025**
The Trustees present their report along with the financial statements of the Charity for the year ended 31 December 2025. The financial statements have been prepared in accordance with the Charities Act 2011and comply with the Charity's Trust Deed.
## **Objectives and Activities**
The Charity provides bursaries for elderly poor people to support their housing needs, in particular supporting members and attenders of the Religious Society of Friends.
## **Structure, Governance and Management**
The Charity is constituted under a Trust Deed dated 10 July 1946 and amended October 2023. The amended document was uploaded to the Charity Commission website. It is a registered charity number 212218.
The Trustees who have served during the year and since the year-end are set out on page 2. Where there is a requirement for new Trustees, these would be identified and appointed by a Meeting of Trustees.
In 2025, the Treasurer and Clerk of Friends Housing Bursary Trust (“FHBT”) told Trustees that he intended to lay down his service at the end of 2025. None of the other trustees was willing to take over responsibility as Treasurer. Trustees approached the 7 Area Meetings of London to ask whether any of them was able to nominate a Treasurer for FHBT but none was able.
Trustees of FHBT agreed that the work of the charity could be better undertaken by another charity with more resources and entered preliminary discussion with two of them.
Trustees subsequently agreed that FHBT would work with North East Thames Quaker Trust (Registered charity 212164) (“NET QT”) as it has very similar aims to those of FHBT. The Trustees of NET QT agreed that they were willing to provide continuing bursaries to all our current beneficiaries and they began the quarterly payment of bursaries to our former beneficiaries starting in December 2025. Former beneficiaries have not raised any concerns with the Trustees in touch. One former beneficiary has lost touch with us and with his Quaker Meeting since April 2025 and we accordingly cancelled bursary payments to him before the handover to NET QT.
Trustees of FHBT agreed that now that the beneficiaries bursaries had been taken over by NET QT, FHBT would realise its investments and transfer the proceeds to NETQT. Trustees agreed that this process is in accordance with our dissolution clause. An initial transfer of £150,000 has been made which we expect to cover the costs of most of the ongoing bursaries for the beneficiaries. NETQT have confirmed that the transferred assets will become a restricted fund for housing support purposes. Their **Minute 26/12** reads NETQT Trustees accept
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Charity Registration Number 212218
FRIENDS HOUSING BURSARY TRUST Trustees Annual Report and Accounts to 31 December 2025
the gift of residual funds from FHBT as funds to be restricted for use on housing bursaries and housing issues (including, but not only, payments for utility bills, rent, domiciliary care to enable individuals to remain in their own home and other bills/charges required to maintaining housing independence).FHBT Trustees will complete the transfer of the remaining assets to NET QT We will dissolve the charity once this process has been completed.
## **Risk Management**
The Trustees have examined the risks which the Charity faces arising from the proposed transfer of beneficiaries and closure. Our bursaries are at the absolute discretion of Trustees. We do not identify any continuing liabilities that would need to be taken over by NET QT.
## **Achievements and Performance**
The Trustees have continued to apply their funds in accordance with the objectives of the Charity and its grant making policy. In doing so, the Trustees have had regard to the guidance issued by the Charity Commission on public benefit. We made donations totalling £9,840 in the year (2024 £16,365).
## **Financial Review**
Our income in 2025 from Trust Grants and from Quaker Meetings was less than our expenditure. Trustees increased the bursary value in 2025 to £380 each quarter to take account of inflation. At the end of the year, we realised some investments in preparation for the transfer of beneficiaries discussed above. As a result, the yearend showed a surplus of £95,389 (2024 deficit £2,912).
At 31 December 2025 the value of our cash reserves was £102,178 (2024: £6,789). In addition we held investments valued at £63,255 (2024 £149,410).
As outlined above, we have agreed to transfer the whole of our assets to North East Thames Quaker Trust.
The Trustees declare that they have approved the trustee’s report above on 23 March 2026.
Signed on behalf of the Charity’s Trustees by:
Fred Ashmore
Clerk 30 March 2026
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FRIENDS HOUSING BURSARY TRUST
Charity Registration Number 212218
Trustees Annual Report and Accounts to 31 December 2025
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Charity Registration Number 212218
FRIENDS HOUSING BURSARY TRUST Trustees Annual Report and Accounts to 31 December 2025
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF FRIENDS HOUSING BURSARY TRUST**
I report to the trustees on my examination of the accounts of the Friends Housing Bursary Trust (‘the Charity)’ for the year ended 31 December 2025.
## **Responsibilities and basis of report**
As the charity trustees of the Charity 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 Charity’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 Charity as required by section 130 of the Act; or
2. the accounts do not accord with those records.
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.
Signed:
Date: xxx 2026
Debby Metcalf FCA 22 Trowlock Ave Teddington TW11 9QT
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Charity Registration Number 212218
FRIENDS HOUSING BURSARY TRUST Trustees Annual Report and Accounts to 31 December 2025
## **RECIPTS AND PAYMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
|All receipts and payments are
unrestricted||**2025**
**£**
2,244
221
2,500
1,833||**2024**|
|---|---|---|---|---|
|||||**£**|
|**RECEIPTS**|||||
|From Quaker Meetings||||3,081
220
9,000
1,848|
|
From Individuals|||||
|Charitable Trusts:|||||
|Sir J Reckitt Charity|2,500||2,500||
|
Others|-||6,500||
|Investment income|||||
|||6,798
98,664||14,149
-|
|Sale of investments|||||
|**Total receipts**||**105,462**||**14,149**|
|||9,840
-
60
62
-
111||16,365
165
60
108
252
111|
|**PAYMENTS**|||||
|Regular housing grants|||||
|
Single grants|||||
|
Bank charges|||||
|
Investment Managers fee|||||
|
Appeal Costs|||||
|Website|||||
|**Total payments**||**10,073**||**17,061**|
|||**95,389**
6,789||**(2,912)**
9,701|
|**Net receipts/(payments) for year**|||||
|
Cash funds last year end|||||
|**Cash funds this year end**||**102,178**||**6,789**|
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Charity Registration Number 212218
FRIENDS HOUSING BURSARY TRUST Trustees Annual Report and Accounts to 31 December 2025
## **STATEMENT OF ASSETS AND LIABILITIES AT 31 DECEMBER 2025**
|**Analysis of cash funds**
CAF Cash Account
**Total cash funds**
**Investment assets at market value**
CT Responsible UK Equity 2 Acc
CT Responsible UK Income 2 Inc
Funds Network (Fidelity)|**2025**
**2024**
**£**
**£**
102,178
6,789|
|---|---|
||**102,178**
**6,789**|
||50,660
44,538
12,595
11,268
-
93,604|
||**63,255**
**149,410**|
The Fidelity investments were sold in December 2025 for £98,664 and the proceeds are included in the Receipts & Payments account above. The two CT Responsible investments were sold in January 2026 at the values included in the accounts at 31 December 2025.
The Trustees declare that they have approved the Receipts & Payments account and Statement of Assets and Liabilities above on XXX 2025.
Signed on behalf of the Charity’s Trustees by:
Fred Ashmore Clerk
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