13 October 2021
WENS24/FW/AH
Mrs J Reed 9 Little Market Place Masham Ripon HG4 4DY
Dear Jan
Please find attached a digital copy of the Accounts for the year ended 31 December 2020.
Could you digitally sign the Trustees report on page 4 and the Balance sheet on page 7 on all sets of accounts signifying their approval.
Once you have signed we will digitally sign the Independent Examiners Report and then a full signed copy will be sent on to you. This will be able to be forwarded onto the Charities Commission.
Finally, we enclose our invoice for work done for your attention in due course.
Yours sincerely
The Barker Partnership
## **THE BARKER PARTNERSHIP**
Encs
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Wensleydale & Swaledale Quaker Trust
Friends Meeting House, 7 Grove Square
Leyburn, DL8 5AE
29999
13 October 2021 WENS24
Professional Services rendered in connection with the Accountancy
Affairs of the Charity.
Preparation of the financial statements for the year ended
31 December 2020 in full charity format.
Attendances, correspondence, and emails with yourself relating to the
above.
Fee 415 00
Add VAT @ 20% 83 00
THE BARKER PARTNERSHIP £498 00
TERMS STRICTLY 30 DAYS NETT
Please note for BACS payments our bank details are as follows:
Barclays Bank Sort Code 20-61-46 Account Number :60145289
£498 00
Wensleydale & Swaledale Quaker Trust WENS24
29999
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**Wensleydale & Swaledale Quaker Trust Trustees' report and financial statements for the year ended 31 December 2020**
**Charity number: 221137**
## **Wensleydale & Swaledale Quaker Trust**
## **Contents**
||**Page**|
|---|---|
|Legal and administrative information|**1**|
|Trustees report|**2 - 4**|
|Independent examiners' report|**5**|
|Statement of financial activities|**6**|
|Balance sheet|**7**|
|Notes to the financial statements|**8 - 11**|
## **Wensleydale & Swaledale Quaker Trust**
## **Legal and administrative information**
**Charity number** 221137 **Registered office** Friends Meeting House 7 Grove Square Leyburn North Yorkshire DL8 5AE **Trustees** R Glaze J Reed Treasurer G H Taylor A P Terry J A White G Birtle **Accountants** The Barker Partnership Chartered Accountants & Statutory Auditors 44 Kirkgate Ripon North Yorkshire HG4 1PB **Bankers** Barclays Bank plc 27/31 High Row Darlington County Durham DL3 7QS
**1**
## **Wensleydale & Swaledale Quaker Trust**
## **Report of the Trustees for the year ended 31 December 2020**
The Trustees present their report and the financial statements for the year ended 31 December 2020. The Trustees who served during the year and up to the date of this report are set out on page 1.
## **Structure, governance and management**
The Charity's governing document is the scheme of the charity commission dated 17 June 2009, under that deed is constituted as an unincorporated charity. The charity was registered on 25 July 1963.
## The objects of the charity are:
(i) the relief of quakers, attenders and other people who are in need, hardship or distress and are resident in the area of benefit,
(ii) the maintenance and upkeep of the quaker meeting houses and burial grounds within the area of benefit,
(iii) to further the religious and other charitable deeds and works of the Wensleydale and Swaledale area quaker meeting, in Britain and overseas, as the trustees shall see meet.
## _Trustee appointment and training_
The trustees are appointed by Wensleydale and Swaledale Area Quaker Meeting. The new trustees are inducted into the working environment of the charity in accordance with the terms of the governing document, including trustees policy and procedures. All trustees give their time freely and no trustee remuneration was paid in the year.
The trustees meet at least four times a year to determine the general policy of the charity and review its overall management and control for which they are legally responsible.
## **Objectives and activities**
The charity's objectives are listed above. In furtherance of these objectives the trustees instruct a Managing Agent with the care of the residential properties, Meeting Houses and adjacent burial grounds, and burial grounds that are not attached to Meeting Houses. Requests to support poor and needy Quakers are received through the Wensleydale and Swaledale Area Meeting Overseers. We also receive direct requests for charitable support and Trustees, in the usual manner of The Religious Society of Friends, discern these requests, these include, for example, requests from neighouring Quaker meetings.
It is the strategic aim of the Trust to update and upgrade all the Tenanted properties and Meeting Houses. It is hoped that over the years when a property becomes vacant we can refurbish them to a high standard.
In planning the Charity's activities for the year the Trustees have paid due regard to the Charity Commission's guidance on public benefits.
## **Achievements and performance**
The charity has continued to upkeep our three main Meeting Houses based in Leyburn, Countersett and Bainbridge, the eleven residential let properties and five burial grounds.
It also owns parcels of agricultural land at Aysgarth, Carperby and Bainbridge as well as grazing rights on Wether Fell which are all appropriately let out through licences or tenancies.
## **Financial review**
The statements which follow show the financial outcome for the year of a deficit of £23,708 compared to a surplus of £35,173 in the previous period, this leaves reserves of £2,850,474. This years deficit is due to extensive refurbishment work on Friends House West, Bainbridge and Mount Pleasant, Aysgarth and the fall in value of shares.
**2**
## **Wensleydale & Swaledale Quaker Trust**
## **Report of the Trustees for the year ended 31 December 2020**
## _Reserves_
All charities are recommended to have a reserves policy which takes into account immediate operational needs, has due regard for the composition of its asset base and earmarks funds which are necessary to carry out future plans.
The trustees consider that an appropriate level of free reserves i.e. those funds not tied up in fixed assets should equate to approximately 6 months of expenditure. This provides sufficient funds to cover management, adminstration and support costs. The current level of free reserves exceeds this figure, but it is the trustees intention to hold such levels of free reserves as they see fit, in order to respond to fund the planned remedial and refurbishment programme and emergency works which arise from time to time.
## _Grant making policy_
When trustees meet, they assess grant applications, and may interview individual grant applicants. The size of the grant is determined by the available funds, the number of applicants and the need of the applicants.
The trustees review the grant making policy annually to ensure that it reflects the charity's objectives and therefore advances public benefit.
Applications are encouraged from all social and economic backgrounds, regardless of gender, disability, sexual orientation or ethnicity.
## **Plans for future periods**
The trust has no other plans than to continue with the activities outlined above.
## **Statement of trustees' responsibilities**
The Trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
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 of the incoming resources and application of resources of the charity for that year. In preparing these 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 estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards 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.
**3**
## **Wensleydale & Swaledale Quaker Trust**
## **Report of the Trustees for the year ended 31 December 2020**
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. They 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.
On behalf of the board
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Jan Reed (Oct 14, 2021 11:06 GMT+1)
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J Reed **Treasurer** 11 July 2021
**4**
## **Wensleydale & Swaledale Quaker Trust**
## **Independent examiner's report to the trustees on the unaudited financial statements of Wensleydale & Swaledale Quaker Trust.**
I report on the accounts of Wensleydale & Swaledale Quaker Trust for the year ended 31 December 2020 set out on pages 6 to 11.
## **Respective responsibilities of Trustees and independent examiner**
As the charity's Trustees you are responsible for the preparation of the accounts, you consider that the audit requirement of section 144(2) of the Charities Act 2011 (the Act) does not apply and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the Act;
- to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the Act; and
- to state whether particular matters have come to my attention.
## **Basis of independent examiner's statement**
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention:
- (i) which gives me reasonable cause to believe that in any material respect the requirements:
- to keep proper accounting records in accordance with section 130 of the Act; and
- to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act have not been met; or
- (ii) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
## Fiona Wilkinson
...........................................................Fiona Wilkinson (Oct 14, 2021 11:14 GMT+1)
## **F Wilkinson FCCA**
The Barker Partnership Chartered Accountants & Statutory Auditors 44 Kirkgate Ripon North Yorkshire HG4 1PB
11 July 2021
**5**
## **Wensleydale & Swaledale Quaker Trust**
## **Statement of financial activities**
## **For the year ended 31 December 2020**
|||**Unrestricted **|**Unrestricted **|**Unrestricted **||**Endowment**|**Endowment**||||**2020**||||**2019**|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||**funds**||||**funds**||||**Total**||||**Total**|
||**Notes**||**£**||||**£**||||**£**||||**£**|
|**Incoming resources**||||||||||||||||
|Incoming resources from generating funds:||||||||||||||||
|Voluntary income|2||1,000||||-||||1,000||||688|
|Investment income|3||36||||52,778||||52,814||||56,855|
|**Total incoming resources**|||1,036||||52,778||||53,814||||57,543|
|**Resources expended**||||||||||||||||
|Establishment costs|||-||||39,707||||39,707||||22,527|
|Accountancy fees|||480||||-||||480||||828|
|Legal and professional fees|||68||||-||||68||||82|
|Other office expenses|||232||||-||||232||||233|
|Investment management costs|||-||||3,554||||3,554||||1,891|
|Management fees - Hills|||-||||8,892||||8,892||||9,369|
|Management expenses - Hills|||-||||18,083||||18,083||||12,547|
|Grants made|||435||||-||||435||||1,000|
|**Total resources expended**|||1,215||||70,236||||71,451||||48,477|
|**Net incoming/(outgoing) resources before**||||||||||||||||
|**other recognised gains and losses**|||(179|)|||(17,458|)|||(17,637|)|||9,066|
|**Other recognised gains and losses**||||||||||||||||
|Gains/(Losses) on investment assets|||-||||(6,071|)|||(6,071|)|||26,107|
|**Net movement in funds**|||(179|)|||(23,529|)|||(23,708|)|||35,173|
|Total funds brought forward|||55,042|||2,819,140||||2,874,182||||2,839,009||
|**Total funds carried forward**|||54,863|||2,795,611||||2,850,474||||2,874,182||
The notes on pages 8 to 11 form an integral part of these financial statements.
**6**
## **Wensleydale & Swaledale Quaker Trust**
## **Balance sheet**
## **as at 31 December 2020**
|**Notes**
**Fixed assets**
Investments
5
**Current assets**
Cash at bank and in hand
**Creditors: amounts falling**
**due within one year**
6
**Net current assets**
**Net assets**
**Funds**
7
Endowment funds
Unrestricted income funds
**Total funds**|**2020**
**£**
**£**
2,783,618
69,532
69,532
)
(2,676
66,856
2,850,474
2,795,611
54,863
2,850,474|**2019**
**£**
**£**
2,814,689
63,973
63,973
)
(4,480
59,493
2,874,182
2,819,140
55,042
2,874,182|
|---|---|---|
The financial statements were approved by the Trustees on 11 July 2021 and signed on its behalf by
Jan Reed (Oct 14, 2021 11:06 GMT+1)
**J Reed Treasurer**
The notes on pages 8 to 11 form an integral part of these financial statements.
**7**
## **Wensleydale & Swaledale Quaker Trust**
## **Notes to financial statements for the year ended 31 December 2020**
## **General information**
The charity is an unincorporated charity, registered in England and Wales. The address of the registered office is Friends Meeting House, 7 Grove Square,Leyburn, North Yorkshire, DL8 5AE.
## **1.**
## **Accounting policies**
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year.
## **1.1. Basis of accounting**
The financial statements are prepared under the historical cost convention, and 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) and the Charities Act 2011.
The financial statements are prepared in sterling, which is the functional currency of the entity.
## **1.2. Endowment funds**
Comprise assets that must be held as capital, either indefinitely or pending the occurence of a future event.
## **1.3. Incoming resources**
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Voluntary income is received by way donations and is included in full in the statement of financial activities when receivable.
Income from investments is earned through holdings of listed investments and includes dividends and interest. Income from listed investments is recognised according to the relevant distribution dates. Interest is recognised on a receivable basis.
## **1.4. Resources expended**
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Charitable expenditure comprises those costs incurred by the charity in the 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.
Grants payable are payments made to third parties in the furtherance of the charitable objectives of the Trust.
**8**
## **Wensleydale & Swaledale Quaker Trust**
## **Notes to financial statements for the year ended 31 December 2020**
## **1.5. Investments**
Listed investments are recognised initially at cost which is normally the transaction price. Subsequently, they are measured at market value (quoted market value ona recognised stock exchange) at balance sheet date with changes in 'net gains/(losses) on investments' in the Statement of Financial Activities. Also included in the Statement of Financial Activities are realised investment gains or losses which represent the difference between the sales proceeds and the opening market value of investments disposed in the year.
Investment properties are recognised initially at cost which is normally the transaction price. Subsequently, they are measured at market value (professional valuation by a qualified person) at the balance sheet date with changes in 'net gains/(losses) on investments' in the Statement of Financial Activities.
## **2. Voluntary income**
|**Voluntary income**|||
|---|---|---|
|**Unrestricted**
**funds**
**£**
Donations
1,000
1,000|**2020**
**Total**
**£**
1,000
1,000|**2019**
**Total**
**£**
688|
|||688|
## **3. Investment income**
|**Unrestricted Endowment**
**funds**
**funds**
**£**
**£**
Income from UK investment properties
-
49,590
Income from UK listed investments
-
3,188
Bank interest receivable
36
-
36
52,778|**2020**
**Total**
**£**
49,590
3,188
36
52,814|**2019**
**Total**
**£**
52,925
3,860
70|
|---|---|---|
|||56,855|
## **4. Employees**
No salaries or wages have been paid to employees, including the trustees, during the year.
## **Number of employees**
The average monthly numbers of employees (including the trustees) during the year, calculated on the basis of full time equivalents, was as follows:
|full time equivalents, was as follows:|||
|---|---|---|
||**2020**|**2019**|
||**Number**|**Number**|
|Trustees|6|7|
**9**
## **Wensleydale & Swaledale Quaker Trust**
## **Notes to financial statements**
## **for the year ended 31 December 2020**
|**Fixed asset investments**||**Listed **|**Listed **||**Investment**|**Investment**|||||
|---|---|---|---|---|---|---|---|---|---|---|
||**investments**||||**properties**|||**Total**|||
|||**£**||||**£**||**£**|||
|**Valuation**|||||||||||
|At 1 January 2020||139,689|||2,675,000||2,814,689||||
|Disposals||(23,289|)|||-||(23,289|)||
|Revaluations||(7,782|)|||-||(7,782|)||
|At 31 December 2020||108,618|||2,675,000||2,783,618||||
|Historical cost as at 31 December 2020||76,447|||2,053,121||2,129,568||||
## **5. Fixed asset investments**
All fixed asset investments are held within the United Kingdom.
The investment properties were professionally revalued during 2015, with this valuation being included within the 2016 accounts as a restated balance. At the balance sheet date the trustees are of the opinion that there has been no change to the market value of the investment properties.
Title to some of the properties included within the investment property portfolio are for historic reasons vested in Friends Trusts Limited, a denominational trust corporation and custodian trustee for the Religious Society of Friends (Quakers) in Britain. The Friends Trusts Limited is a charitable company limited by guarantee under the company registration number 00188362 and charity registration number 237698. The Friends Trusts Limited is a custodian trustee set up to allow continuity of ownership to the beneficiaries for the many properties held by various trusts across the Society of Friends.
In the opinion of the trustees the beneficial ownership of the investment properties lies with the Wensleydale & Swaledale Quaker Trust.
|**6.**
**Creditors: amounts falling due**
**within one year**
Bank overdraft
Quaker Housing Trust Loan
Accruals and deferred income|**2020**
**£**
196
2,000
480
2,676|**2019**
**£**
-
4,000
480|
|---|---|---|
|||4,480|
**10**
## **Wensleydale & Swaledale Quaker Trust**
## **Notes to financial statements for the year ended 31 December 2020**
## **7. Analysis of net assets between funds**
|**7.**|**Analysis of net assets between funds**|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||**Unrestricted **||||**Endowment**||||**Total**|||
|||||**funds**|||**funds**||||**funds**|||
|||||**£**|||**£**||||**£**|||
||Fund balances at 31 December 2020 as represented by:|||||||||||||
||Investment assets|||-|||2,783,618|||2,783,618||||
||Current assets|||55,343|||14,189||||69,532|||
||Current liabilities|||(480|)||(2,196|)|||(2,676|)||
|||||54,863|||2,795,611|||2,850,474||||
|**8.**|**Unrestricted funds**|**At**|||||||||**At**|||
|||**1 October**|**Incoming**||||**Outgoing 30**|||**September**||||
|||**2020**|**resources**||||**resources**||||**2020**|||
|||**£**||**£**|||**£**||||**£**|||
||Unrestricted Fund|55,042||1,036|||)
(1,215||||54,863|||
## **Purposes of unrestricted funds**
The unrestricted fund represents those funds which the Trustees are free to use in accordance with the charitable objectives.
## **9. Endowment funds**
|**At**|||||**At**|
|---|---|---|---|---|---|
|**1 October**|**Incoming**|**Outgoing**||**Gains and 30 September**||
|**2020**|**resources**|**resources**||**losses**|**2020**|
|**£**|**£**|**£**||**£**|**£**|
|2,819,140|52,778|(70,236|)|)
(6,071|2,795,611|
## **Purposes of endowment funds**
The Endowment fund represents the value of the investment fund portfolio in the form of equities, gilts and investment properties.
**11**