2021-12-31-accounts - Friends Trusts Limited

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Directors:	The Directors (or	The Directors (or	trustees	trustees	trustees	for the purposes
	Nigel Bames
	Linda Batten
	Steven Burkeman		(from			1 June 2021)
	Peter Green
	David Harries
	Lucy Parker (till	31		May	2021)
	Nick Perks
	Graham Prescott		(from		1	June 2021)
	Janet Slade (till	31 May			2021)
	Paul Whitehouse		(till 31		May 2022)
	Stephen Wright
	Paul Wyatt
Secretariat:
	Maureen Sebanakitta
Registered	Friends House
Office:	173 - 177Euston	Road
	LONDON, NW1 2BJ
Main Bankers:	The Co-operative 60 Kingsway,	Bank pic
	LONDON, WC2B	6DS
	CafCash Limited
	Kings Hill
	WEST MALLING,	ME194TA
Investment	Rathbone Greenbank			Investments
Managers:	10Queen Square
	BRISTOL, BS14NT
Solicitors:	Hunters Solicitors
	9 New Square
	Lincoln's Inn
	LONDON, WC2A	3QN
Auditors:	Myrus Smith
	Norman House
	8 Burnell Road
	Sutton
	Surrey
	SM1 4BW

Statement ofFinancial		Activities	for the	year en	ded 31 Dece	mber 2021
				Notes	Unrestricted Funds	Restricted Funds	Endowment Funds	Total Funds	Total Funds
								2021	2020
Income and endowments		from:
Donations Donated services Legacies Investments Deposit accounts and bank		interest			80 47,520 60,593	44,702	64,248	80 47,520 60,593 108,950	200 47,520 370,400 109,638
Other									3,001
Total					108,193	44,702	64,248	217,143	530,759
Expenditure on:
Raising funds: investment Charitable activities	management		charges		204,066	132,592	35,400	35,400 336,658	30,573 589,625
Total					204,066	132,592	35,400	372,058	620,198
Gains (losses) on investment Net income/(expenditure) Transfers between funds Net movement in funds		assets		5.1.a	(95,873) 148,998 53,125	(87,890) (87,890)	973,392 1,002,240 148,998 853,242	973,392 818,477 816,477	666,541 577,102 577,102
Reconciliation offunds:
Total funds brought forward Total funds carried forward					12,132 65,257	323,794 235,904	7095,900 7,949,142	7,431,826 8,250,303	6,854,724 7,431,826

		2021	2020
Net movement in funds		818,477	577,102
Unrealised (gains)	losses on investments	(896,204)	(729,092)
Difference between	realised gains on
investments
calculated on a historical cost basis and
realised gains
calculated on a carrying market value basis.		(530,603)	(240,363)
Historical cost net	movement in funds	608,330	392,353
Summary Income	and Expenditure Account
		2021	2020
Total income ofcontinuing operations		152,895	521,330
Total expenditure	ofcontinuing operations	(336,658)	(589,625)
Net (expenditure) transfers	income for the year before	(183,763)	(68,295)
Transfer from endowment funds		148,998	272,989
Net (expenditure)	income for the year	34,765	204,694

					BALANCE SHEET
				AT	31DECEMBER 2021
				Notes	2021		2020
Fixed assets:
investments Current assets:			Total fixed assets			7,878,764 7,878,764		7,102,481 7,102,481
Debtors Cash at bank and	on deposit				25,119 812,448		408,067 346810
Liabilities:		Total current assets				837,567		754,877
Legacies and funds awaiting distribution Other creditors Creditors: Amounts falling due within one year Net current assets					(365,292) ~100,736	~466.028 371,539	(10,000) ~415532	425,532 329,345
			Total net assets			8,250,303		7,431,826
The funds ofthe	charity:
Total endowment Restricted income Unrestricted funds	funds funds			5.3 5.4 5.5		7,949,142 235,904 65,257		7,095,900 323,794 12,132
		Total charity funds				8,250,303		7,431,826

CASH FLOW STATEM	ENT
		2021	2020
Operating activities
Net movement in funds		818,477	577,102
Dividends		(108,950)	(109,638)
Interest		0	(3,001)
Investment management	fees	35,400	30,573
(Gains)/losses on investments		(973,392)	(666,541)
(Increase)/decrease in	debtors	381,890	467,953
Increase/(decrease) in	creditors	40496	659,026
		193,921	(362,578)
Investing activities
Investment management	fees	(35,400)	(30,573)
Purchase of investments		(1,044,755)	(1,487,262)
Proceeds from sale of investments		1,241,864	1,506,750
Interest received		0	3,001
Dividends received		110,008	110891
		271,717	102,807
Financing activities
Increase/(decrease) in	cash in year	465,638	(259,771)
Cash at beginning ofyear		346,810	606,581
Cash at end ofyear		812,448	346,810

Fund pur	poses	poses
(a)	Endowment		Funds
Fund					Purpose for which the income is to be applied
Anonymous		MC98			General Fund of Britain Yearly Meeting.
Blackwell					At the discretion ofthe Board taking account ofthe settlor's wishes.
Braithwaite					At the Board's discretion in consultation with settlor's representative.
Colenso					General purposes, but income is for the relief ofpoverty.
Cox					Britain Yearly Meeting for the provision and maintenance	ofMeeting Houses.
Doncaster					40%Worcester &Shropshire Area Quaker Meeting,
					20% South Wales Area Quaker Meeting,
					20% Southern Marches Area Quaker Meeting (212/286)
					& Mid-Wales Area Quaker Meeting (74/286),
					20% Britain Yearly Meeting (Peace and Service).
General	GIRs and Legacies				At the discretion ofthe Board.
Northern	Friends Peace			Board	For Northern Friends' Peace Board.
Rowntree					At the discretion ofthe Board in consultation with settlor.
Simmons					For Britain Yearly Meeting taking account ofthe settlor's	wishes.
Stewart					80%Sussex & Surrey Regional Quaker Meeting
					20% Tunbridge Wells Quaker Meeting.
Todd					For Meeting House repairs and purchases in the
					Kingston-upon-Thames area.
Ward					At the discretion ofthe Board taking account ofthe settloVs wishes.
Wirral &	North Wales				For Wirral &Chester and North Wales Area Quaker Meetings.
Witting					Individual relief: 40% England, 40%Germany, 20% Poland.
Young Friends General				Meeting	For Young Friends General Meeting.

5.2 Analysis ofnet	5.2 Analysis ofnet	assets between	assets between	assets between	assets between	assets between	funds
							Unrestricted	Restricted	Endowment	Total	Total
							Fund	Funds	Funds	2021	2020
							F	F	F	F
Fund balances	at 31 December
are represented	by:
Investments									7,878,764	7,878,764	7,102,481
Net current assets							65,257	235,904	70,378	371,539	329,345
							65,257	235,904	7,949,142	8,250,303	7,431,826
Included above	are unrealised		(losses)			gains
on investments	as follows
Unrealised gains (losses)		at 1	January						3,253,954	3,253,954	2,284,499
Add (Deduct) in respect ofdisposals					in year				(530,603)	(530,603)	240,363
Deduct / Add: net (losses) / gains arising
on revaluations	in year								896,204	896,204	729,092
Unrealised gains (losses)		at 31		December					3619,555	3,619,555	3,253,954
Comparative information		is as	follows:
							Unrestricted	Restricted	Endowment	Total	Total
							Fund	Funds	Funds	2020	2019
							F.			F.	F
Fund balances	at 31 December
are represented	by:
Investments									7,102,481	7,102,481	6,455,428
Net current assets							12,132	323,794	(6,581)	329,345	399,296
							12,132	323,794	7,095,900	7,431,826	6,854,724
Included above are unrealised				(losses) gains
on investments	as follows
Unrealised gains (losses) at 1				January					2,284,499	2,284,499	1,591,494
Add (Deduct)	in respect	ofdisposals				in year			240,363	240,363	(233,058)
Deduct / Add:	net (losses) / gains arising
on revaluations	in year								729,092	729,092	926,063
Unrealised gains (losses) at 31 December									3,253,954	3,253,954	2,284,499

5.3Endowment funds
			Movement		in Funds
	Balance at				Unrealised 8		Balance at
	1 Jan	Incoming	Resources		Realised	Transfers	31 Dec
	2021	resources	expended	Gains (Losses)			2021
Anonymous MC98 Blackwell Braithwaite Colenso Cox Doncaster General Gifts and Legacies Northern Friends Peace Board Rowntree Simmons Stewart Todd Ward Wirrall 8 North Wales Young Friends General Meeting 516,924 3,118,383 113,304 356,661 841,331 390,417 875,304 31,883 148,473 214,658 101,242 221,362 100,437 32,723 32,798		8,022 4,967 1,758 5,392 13,057 6,059 13,584 495 3,331 1,571 3,435 1,558 508 509	(2,697) (15,991) (591) (1,813) (4,390) (2,037) (4,567) (166) 525 (1,120) (529) (1,155) (524) (171) (172)		73,521 430,123 16,113 49,416 119,655 55,528 124,490 4,536 30,526 14,397 31,482 14,282 4,656 4,667	(148,998)	595,770 3,537,482 130,584 409,656 969,653 449,967 1,008,811 36,748 247,395 116,681 255,124 115,753 37,716 37,802
Total	7,095,900	64,246	(35,398)			(148998)	7 949 142
Comparative information	is as follows:

			Movement	Movement	in Funds
	Balance at				Unrealised 8		Balance at
	1 Jan 2020	Incoming resources	Resources expended	Realised Gains (Losses)		Transfers	31 Dec 2020
Anonymous MC98 Blackwell Braithwaite Colenso Cox Doncaster General Gifts and Legacies Northern Friends Peace Board Rowntree Simmons Stewart Todd Ward Wirrall 8 North Wales Witting Young Friends	466,140 2,862,836 102,173 322,528 758,677 352,062 789,314 28,751 133,887 193,569 91,296 199,615 90,570 29,509 272,989 29,576	551 5,202 121 370 896 416 931 34 158 229 108 236 107 35 35	(2,221) (13,521) (487) (1,493) (3,615) (1,678) (3,761) (137) (638) (922) (435) (951) (432) (141) (141)		52,454 263,866 11,497 35,256 85,373 39,617 88,820 3,235 15,066 21,782 10,273 22,462 10,192 3,320 3,328	(272,989)	516,924 3,118,383 113,304 356,661 841,331 390,417 875,304 31,883 148,473 214,658 101,242 221,362 100,437 32,723 32,798
Total	6,723,492	9,429	30,573		666,541	272 989	7 095 900

					Balance at	Movement in funds	Movement in funds	Movement in funds	Balance at
					1 Jan	Incoming	Resources	Transfers	31 Dec
					2021	resources	expended		2021
Anonymous		MC98			6,981		(7,183)		(202)
Blackwell					45,809	44,701	(50,169)		40,341
Braithwaite					1,796		(2,051)		(255)
Colenso					4,756		(3,206)		1,550
Cox					11,363		(11,271)		92
Doncaster					5,273		(5,448)		(175)
Northern	Friends		Peace	Board	431		(445)		(14)
Rowntree					6,892				6,892
Simmons					2,899		(2,996)		(97)
Stewart					1,367		(1,412)		(45)
Todd					2,990		(3,089)		(99)
Ward					1,356		(1,401)		(45)
Wirrall &	North Wales				442		(457)		(15)
Witting Narrowly			Restricted		230,996		(43,005)		187,991
Young Friends General				Meeting	443		(458)		(15)
Total					323,794	44,701	(132,591)		235,904

Comparative	Comparative	Comparative	information	information	is as follows:
						Balance at	Movement in funds			Balance at
						1 Jan	Incoming	Resources	Transfers	31 Dec
						2020	resources	expended		2020
						F	F		F
Anonymous			MC98			8,128	6,981	(8,128)		6,981
Blackwell						55,800	47,099	(57,090)		45,809
Braithwaite						2,266	1,530	(2,000)		1,796
Colenso						5,463	4,693	(5,400)		4,756
Cox						13,228	11,363	(13,228)		11,363
Doncaster						6,139	5,273	(6,139)		5,273
Northern		Friends		Peace	Board	501	431	(501)		431
Rowntree						4,887	2,005			6,892
Simmons						3,375	2,899	(3,375)		2,899
Stewart						1,592	1,367	(1,592)		1,367
Todd						3,480	2,990	(3,480)		2,990
Ward						1,579	1,356	(1,579)		1,356
Wirrall	&	North Wales				515	442	(515)		442
Witting	Narrowly			Restricted		8,711	2,406	(53,110)	272,989	230,996
Young	Friends General				Meeting	514	443	(514)		443
Total						116,178	91,278	156,651	272,989	323,794

			Balance at	Movement in funds	Movement in funds	Movement in funds	Balance at
			1 Jan	Incoming	Resources	Transfers	31 Dec
			2021	resources	expended		2021
			f.	F		E
General Gifts	and Legacies		12,132	108,193	(204,066)	148,998	65,257
Total			12,132	108,193	204,066	148,998	65,257
Comparative	information	is as follows:
			Balance at	Movement in funds			Balance at
			1 Jan	Incoming	Resources	Transfers	31 Dec
			2020	resources	expended		2020
					f.
General Gifts	and Legacies		15,054	430,052	(432,974)		12,132
Total			15,054	430,052	432,974		12,132

.1 Th	e types of	investments held, and	their market value, at 31 Decembe	r 2021 were:
			Total	Total
			2021	2020
Cash			274,921	245,285
Common	investment	funds
OEICs and unit
trusts			1,907,473	2,002,296
UK equities			3,087,137	2,722,335
UK fixed	interest		457,084	276,516
Overseas	equities
Overseas	fixed interest		308,781	96,382
Overseas	unit trusts		1,843,368	1,759,667
Total investments			7,878,764	7102481

			Total	Total
			2020	2019
Market value	at 1 January		7,102,481	6,455,428
Acquisitions	at cost		1,044,755	1,487,262
Disposals at	carrying	market
value			(1,164,675)	(1,569,302)
Unrealised gains (losses) in
year			896,203	729,093
Market value	at 31 December		7,878 764	7,102481
Historic cost			4,738,892	4,329,250

		2021	2020
			F
Balance at 1 January		10,000	1,520
Funds and legacies received		1,254,444	154,749
		1,264,444	156,269
Funds and legacies distributed		(899,152)	(146,269)
Balance at 31 December		365,262	1D,DDD
Note creditors - Manually	entered except
totals
8.Other Creditors
		2021	2020
			F
Accrued Grants Other		91,282 9,454	407,900 8,523
Balance at 31 December		1DD 736	415532
Note debtors - Manually	entered except totals
9.Debtors
		2021	2020
		F
Accrued Legacy Income Other		12,569 12,550	407,900 1,058
Balance at 31 December		25,119	408,067

Tickells (Hugh) Charity	Tickells (Hugh) Charity		For the general benefit of such poor people as the trustees in their	For the general benefit of such poor people as the trustees in their
			discretion think fit
Wensleydale	&Swaledale	Quaker Trust	1.The relief of Quakers, Attenders and other people who are in
			need, hardship or distress and are resident in the area	of benefit;
			2.The maintenance and upkeep ofthe Quaker meeting	houses
			and burial grounds within the area of benefit; 3.To further the
			religious and other charitable deeds and works ofthe
			Wensleydale and Swaledale Area Quaker Meeting in Britain and
			overseas.
Woodbrooke	Quaker Study	Centre	Provision of learning to Quakers and others to advance	the
			Quaker faith and enhance understanding ofsocial and	spiritual
			matters.