QUAKER SERVICE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Notes Income from: Donations and legacies Investm8nt8 151,594 4,148 10,846 162,440 4,148 232,934 3,783 143,393 376,327 3,783 Total income 155,742 10,848 166,588 238,717 143,393 380,110 Expendlture on: Charftsbla actlvlties 202,899 14,953 217,852 298,945 175,561 474,506 Total expondlture 202,899 14,953 217,852 298,945 175,561 474,506 Net gainsl{lossesl on inve8trnents 3,523 3.523 {15.319J (15,319) Net expenditure 143,6341 {4,107) (47,741) 177,5471 132,168) {109,715) Transfers beeen funds 7,274 17,274) Net movement in funds 143,634) (4,107) 147,7411 170,273) (39,442) (109,7151 Reconclllatlon of funds: Fund balances at 1 April 2023 879,908 4,107 884,015 950,181 43,549 993.730 Fund balances at 31 March 2024 836,274 836,274 879,908 4,107 884,015 The stalemenl of flnanclal activllies in¢lude8 all gains and losses recognised in the y88r. All Income and expenditure derive from continuing activities. 13-
QUAKER SERVICE STATEMENT OF FINANCIAL POSITION ASAT31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets Investments 11 12 409,555 175,277 437,798 173,735 584,832 611,533 Current assets Deblors Cash at bank and in hand 13 116,593 149,346 95,495 192,107 265,939 287,602 Creditors: amounts falling due wlthln one year 15 (14,4971 (15,120) Net current assets 251,442 272.482 Total assets less currenl liabllitles 836,274 884,015 The lunds of the charity Restricted income fvnds Unrestricted funds 16 17 4,107 879,908 836,274 836,274 884,015 The company is entitled to the exemption from the audit requirement contained in secllon 477 of the Companie8 Act 2006, for the year ended 31 Mah 2024. although an audit ha8 been carried out under section 65 of the Charities Act (NII 2008 The dlrectors acknowledge their re8ponslbllltl8s for complylng with the requlrements of the Companies Act 2006 with re8pect to accounting records and the preparation of financial stalements. The members have not required the company to obtain an audlt of ils flnancial statements nder the requirements of the Companies Act 2006, for the year in question in accordance with sects'on 476. These financial statements have been prepared in accordance with the provisions applleable to companles subject to the small companies regime. The financial statements were approved by the trustees on . X Trustee Company registration number N1063929 {Northem Ireland) 14-
QUAKER SERVICE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operating activities Cash labsorb8d byllgenerated from operations 21 145,3001 30.566 Investlng actlvltles Purchase of tangible fixed as¥et8 Purchase of investm8nt$ Net proceeds from disposal of investments Movement in cash account Management fees charged on investments Inv8Stment income received 12,062} 134.8151 25,079 18521 (184,5611 177,057 8,414 1,071 4,148 3,783 Net cash generated froml{used In) Investing actlvltles 6,129 18,667) Financlng activities Payment of finance18ases obllgations (3,590) (10,741) Net cash used In flnancing actlvltles (3,590) 110,741) Net (de¢rease}Ilncrease In cash and cash equivalents {42,761 } 11.158 Ca8h and ca8h equivalents et beginning of year 192,107 180,949 Cash and cash equlvalents at end of year 149,346 192,107 15-
QUAKER SERVICE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charity informatlon Quaker servi is a private company limited by guarantee incorporated in Northérn Ireland. The régistered office is 541 Lisbum Road, Belfast, 8T9 7GQ. 1.1 Accountlng convention The financial statements have been prepared in accordance with the charity's Igovèrning documentl, the Companies Act 2006, FRS 102 "The Financial Reportsng Standard applicable in the UK and Republic of Ireland. {"FRS 102") and the Charities SORP "Accounting and Reporting by Charrties.. 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 IFRS 102}. (effective 1 January 20191. The charity is a Public Benefit Entity a8 deftned by FRS 102. The financial statements are prepared in 8terilng, which 18 the funcllonal currency of th8 charity. Monetary amounts in these financial Statements are rounded to the nearest £. The financlal Statements have been prepared und@r the hlstorical cost convention, Imodified to include the revaluation of freehold properties and lo include inv8Stment properties and certain financial instruments at fair V81ue]. The principal accounting policie8 adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that thè charity has adequate resources to continue in operational existence for the foreseeable future. Thus the tru8tee8 continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestrict8d funds are available for use at the discretion of the trustees in furtherance of their charitable objective8. Restricted funds are 8ubject to specific conditions by donors or grantors as to how théy may be u8ed. Th8 purposes and uses of the restricted funds are set out in the notès to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. 1.4 Income Income is recognised when the diarity is legally entitled lo it after any performancé conditions have been met. the amounts can be measured r81iably, and It 1$ probable that income will be re¢elved. Cash donations are re¢ognised on receipt. Oiher donations are recognised once the charity has been notified of the donation, unless performanGe conditions require deferral of the amount. Income lax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on reIpt or otherwise if the charity has been notified of an impending distribution, the amount is kn¢)wn, and receipt is expected. If the amount is not known, the legacy is treated as a contingent as8et. 16-
QUAKER SERVICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng policies (Continued) 1.5 Expenditure Expenditure is recognised once Ihere 18 a legal or constructive obligation to transfer 6conomic benefrt to a third party, it is probablé that a transfer of economic benefits will be réquired in settlement, and the amunt of the obligation can be measured reliably. Expendilure is classified by actlvlty. The c08ts of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity ar8 alltseated directly to that activity. Shared costs which contribute to more than oné actimty and support costs which ar8 not attributable to a single activity are apportioned beeen those activities on a basis consistent with th8 use of resources. Centrel staff costs are allocat8d on the basis of time spent, and depreciation charges aro allocated on the portion of the asset's U88. 1.6 Tangible flxed assets Tangible fixed assets are initially measured at cost and subsequently mea8ured at cost or valuation, n8t of depreclation and any impairment1088es. Depreclatlon is recognised 80 as to wrrte off the cosl or valuation of a888t81865 their resldual values over their useful lives on the following bases.. Land and buildings Fixtures, fittings & 8quipment Computers Motor vehicles 2% Straight line 20% Straight lin8 200A Straight line 200A Straight line The gain or loss ari8ing on the disposal of an asset is detemiined a8 the difference beeen the sale proceeds and the carying value of the asset, and is regnised in the Statement of financial activities. 1.7 Flxed asset investments Fixed asset inveslments are initially measured at transaction price excluding transaction costs, and are 8ubsequently measured at fair value at each reporting date. Changes in fair value are recopnised in net incomel{expenditure) for the year. Transgction costs are expensed as incurred. 1.8 Impalrment of flxed assets At each reporting end date, the charrty reviews the carrying amounts of its tangib18 a$88ts lo det8rmine wh6th8r thére 18 any indication that those assets havé suffered an impairment loss. If any such Indication exists, th8 recoverable amount of the asset is estimated in order to determine the extent of the impairment loss lff any). 1.9 Cash and cash equlvalents Cash and cash equivalents Include cash in hand, deposits held at call with banks, other short-temi liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts ar8 shown within borrowings in current liabilities. 1.10 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Inslruments, and Section 12 'other Financial Instruments Issues, of FRS 102 lo all of its financial instruments. Financial instruments are recognised in the charity's balan sheet en the charity becomes party to the contractual provi8ions of the instrument. Financial assets and liabilities are offset, with the net amounts presènted in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a n8t basis or to realise the asset and Settle the liability simultaneously. 17-
QUAKER SERVICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policles (Gontinued) Basic financlal assets Basic financial assets, which include debtors and cash and bank balances, arè initially measured at transaction price induding transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement conslilule8 a financing transaction, where the transaction is mèasured at the present value of the future receipts discounted at a martet rate of interest. Finanaal assets classified as receivable within one year are not amortised. Basic financlal Ilabiliflos Basic financial liabilitses, including creditors and bank108ns are Inltially recognisèd at transaction prfce unless the arrangernent constitutes a financing transaction, where the debt instwment is measured at the present value of the future payments di8counted at a market rate of interest. Financlal liabililies clas$lf18d as payable within one year are not amortised. Debt instruments ar8 subsequently carriéd at amortlsed cost, using the effective interest rat8 method. Trade creditors are obligations to pay for goods or services that hav8 been acquired in the ordinary course of oper8tions from suppliers. Amounts payable are classified as Current liabilities if payment is due within one year or less. If not, they are presented as non-CUTrenl liabililias. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cosl using the effective interest method. Derecognltion of flnancial liabllities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.11 Employee benefits The cost of any unused holiday entitlement 18 recognised in the period in which the employee's services are received. Temiination benefits are recognised imm8dlately a8 an expense when th8 charity is demonstrably committed to terminate the employment of an employee or to provide termination benefit8. 1.12 Leases Leases are classified a8 flnance leases whenèv8r the term8 of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases. Assets h8ld under finance leasés are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The relatéd liability 1$ In¢luded in the stslement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to net incomellexpenditurel for the year 80 as to produce a constant periodic rate of interest on the remaining balance of the liability. Crltical a¢countlng estimates and Judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assels and liabilities that are not readily apparent from other sources. The estimates and associatsd 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 pertod in which the estimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects bolh current and future periods. 18-
QUAKER SERVICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from donations and lègacies Unrestrlcted Restricted funds funds 2024 2024 Total Unrestrlcted Restricted funds funds 2023 2023 Total 2024 2023 Donations and gifts Leaacies Grants 59,530 59,530 85,244 10,249 137,441 85,244 10,249 280,834 92,064 10.846 102,910 143,393 151,594 10,846 162,440 232,934 143,393 376,327 Donatlons and glfts Fri8nds donatlan$ HMRC gift ald 58,169 3,361 56,169 3,361 79,109 6,135 79.109 6,135 59,530 59,530 85,244 85,244 Grants Joseph Rowntree Charitable Trust CB & HH Taylor Trust The Oliver Moreland Tru8t AE Harvey Charitable Tru8t R&S Bankcroft Clark Trust Nl Pri80n Service Black Mountain Shared Space WF Southall Trust Sir James Reckltt Charlly LFT Charitable Trust Other 55,000 14,000 4,000 55,000 14,000 4,000 55.271 14,000 4,000 55,271 14,000 4,000 8,000 8,000 10,000 10,000 2,000 2,000 14,953 2,000 2,000 14.858 14,953 14,858 8,032 8.032 1,050 3,000 35,500 1,050 3,000 35,500 10,000 131,155 10,000 118,535 1,032 (4,107) (3,075) 12,620 92,064 10,846 102,910 137,441 143,393 280,834 Government grants Further breakdown of the restricted funding reived within other above can be found in note 17. Also included within 'otherf in Ihe prior year was a gift from the trading subsidiary of £9,043. No gift was received in 2024. 19-
QUAKER SERVICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from investments Unrestricted Unrestricled fvnds funds 2024 2023 Income from listed investm8nts Other income 4,143 3,783 4,148 3,783 Expendllure on charitable activities Charitable activllles 2024 Charitablo activitles 2023 Dlrect costs Quaker conn8clion8 Quaker cottage Teenage project 46.146 52,697 292 33.757 258,611 72,718 99,135 365,086 Share of support and governance costs (see note 6) Support 118,717 109,420 217,852 474,506 Analysis by fund Unrestricted funds Restricted funds 202,899 14,953 298,945 175,561 217,852 474,506 Included within the Quaker cottage expen8es of £52,697 is £28,243 (2023.. £29,463) of depreciation. -20-
QUAKER SERVICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs allocated to actlvltles 2024 2023 staff costs Running costs Govemance costs Charitab18 aclivlties Volunteer costs 85,618 16,084 14,760 2,220 35 96,497 6,648 5,065 1.210 118,717 109,420 Analysed between: Charitable activities 118,717 109,420 Thi$t¢•s None of the trustees lor any person8 connected with them) recelved any remunerallon or benefit8 from the charity durfng th8 year. Employees Th8 average monthly number of employèes during the year was.. 2024 Number 2023 Number Employment costs 2024 2023 Wages and salaries Social security costs Other pension costs Redundancies 109,434 6,128 3,644 252,846 22.221 10,234 71,096 11g,206 356,397 There were no employees whose annual remuneration was more than £60,000. 21
QUAKER SERVICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Employees (Continued) Remuneration of key management per50nn•l The remuneration of key management per50nn81 d8 a8 follows.. The charity consider8 its key management personnel includes all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The totsl compensation paid to key management was £117,378 (2023.. £117,026). Galns and105se5 on investments Unrestricted Unrestrl¢ted funds funds 2024 2023 Gain8111088e81 arising on: Revaluation of investments Sale of investments 1,020 2,503 {15,3191 3.523 (15,3191 10 Taxatlon The charity is exempt from taxation on ils 8Ctivitl88 because all its income is applled for charitable purposes. 11 Tangible flxed assets Land and bulldlngs Fixtures. fittings & •quipment Gomput•rB Motor vehicl•s Total Cost At 1 April 2023 505,200 16,840 19,805 65,898 607,743 At 31 March 2024 505,200 16,840 19,805 65,898 607.743 Depreciation and impairment At l April 2023 Depreciation charged in the year 100,040 10,304 10,381 3,368 9,656 3,541 49,868 11.030 169,945 28,243 At 31 March 2024 110,344 13,749 13,197 60,898 198,188 Carrying amount At 31 March 2024 394,856 3.091 6,608 5,(H]O 409,555 At 31 March 2023 405,160 6,459 10,1SO 16.029 437,798 -22-
QUAKER SERVICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Fixed asset investments Listed Unlisted investments investments Total Cost or valuatlon At 1 Aprll 2023 Additions Valuation changes Managem8nt charge Movement in c4Pital account Di8p08al8 160,929 184,561 231 {1,0711 {8,4141 1173,7311 12,806 173,735 184,561 1,020 11,0711 18,414) 1174,554) 789 (823) At 31 March 2024 162,505 12,772 175,277 Carrying amount At 31 March 2024 182,505 12,772 175,277 At 31 March 2023 160,929 12,806 173,735 13 Debtors 2024 2023 Amounts falllng due wlthin one year: Tradé debtors other debtors Prepayment8 and accrued income 102,058 14,535 63,541 31,952 116,593 95,495 14 Finance lease obllgatlons Future minimum lease p8ymenls due under flnance le88es'. 2024 2023 Within one year 3.590 -23-
QUAKER SERVICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Credltors- amounts falling due wlthln one year 2024 2023 Notes Obligation8 under finance leas8S Trade creditors other creditors Accruals and deferred income 14 3,590 689 5,570 5,271 797 4,519 9,181 14,497 15,120 16 Restricted funds The restricted funds of the charity comprisè the unexpended balanc88 of donation8 and grants held on trust subject to specific conditions by donors as to how they may used. At 1 Aprll 2023 Incomlng Resources resources expended Transfers At 31 March 2024 Northern Ireland Prison SèNice Community Foundation Nl 14,953 (4,107) 114,953) 4.107 4,107 10,846 {14,9531 Prevlous year". At 1 April 2022 Incomlng r•sources Resources expended Transfers At 31 March 2023 Northern Irèland Prison Service Community Foundation Nl Belfast HSCT Department of Foreign Affairs, Trade & Investment Departmenl of Education LFT.Charitab18 Trust BBC Children in Need The Execulive Fund Family Group Confrence Nl Probation Board The Ireland Fund 14,858 (14,858) 111,325) (40,901) 15,432 4,107 40,901 18,682 20,640 10,000 26,225 (16.6821 {20,640) {10,OCNJI {26,2251 7,274 20,843 (7,274) {20.8431 110,087} 14,000) 10,087 4,000 43,549 143,393 175.561 (7,274) 4,107 The charity receives restricted funding for several of its projects as noted above. More details of the purpose of these fvnds and activities undertaken are given in the directors. report. -24-
QUAKER SERVICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Unrestricted funds The unrestricted funds of the chatily comprise the unexpended balances of donations and grants which arè not subject to specific conditions by donors and granlors as to how they may be used. These includ8 deslgnated funds which have been set aside out of unrestricted funds by the trustees for spècific purposes. At 1 April 2023 Incoming resources Resources expended Transfers Galns and At 31 March losses 2024 General funds Property fund Friend legacy 359,509 408,717 111,682 155,742 (192,595) (10,304) 3,523 326.179 398,413 111,682 879,908 155,742 1202,899) 3,523 836,274 Prevlous year: At 1 Aprll 2022 Incomlng resources Resources expended Transfers Gains and At 31 M4rch losses 2023 General fiJnd8 Property fund Friend legacy 398,914 439,142 112,125 226,968 (278,5611 {10,1921 {10,1921 27,507 (20,233) (15,319) 359,509 408,717 111,882 9,749 950,181 236,717 298,945 7,274 115,319} 879,908 The directors had previously de8ignat8d funds to replace minibu8es u8eé for the cott8g8 proj8ct. All vehide8 are now hired rather than purchased so the funds have been transferred to the cottage PTojecl. Oth8r transfers are made lo support the projects in receipt of restructured funds for general re8erv8S. 18 Analysis of net assets between funds Unr•strlcted funds 2024 Restricted funds 2024 Total 2024 At 31 March 2024.. Tangible assets Investments Current 8ssetsllliabilitie8) 409,555 175,277 251,442 409,555 175,277 251,442 836.274 836,274 25-
QUAKER SERVICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18 Analysi5 of net assets belween fund5 (Continued) Unrestricted funds 2023 Re5trlcted funds 2023 Total 2023 At 31 March 2023: Tangible assets Invèstments Current assetsllliabiliti88) 437,798 173,735 268,375 437,798 173,735 272,482 4,107 879,908 4,107 884,015 19 Flnanclal commltmentsp guarantees and contlngent Ilabilities There were no financlal commitments at the year end. 20 Related party transactlons As a direct sub81dlary under the control of Quaker Servlce, Quak8r Care Ltd 18 considèred to be a related paty of the company. During the year Quaker Care Ltd donated by way of gift aid its profit for the year ended 31 March 2024, £1,03212023: £9,043). At 31 March 2024 the amount due to th8 company from Quaker Care Ltd was £102,05612023'. £63,541) 21 Cash generated from operations 2024 2023 Oeficit for the year (47,741) {109,715) Adjustments for.. Investment income recognised in statemènt of financial activitie8 IGain)Iloss on disposal of investments Fair value gain8 and losses on investments 08preciation and impairment of tangible fixed assets 14,148) 12,503) 11,020) 28,243 13,783) 15,319 29,463 Movements in working capital.. Ilncreaselldecrèase in debtors Increase in creditors 121.0981 2,967 95,186 4,096 Cash (absorbed byllgenerated from operations 145,300) 30,566 26-
QUAKER SERVICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 22 Analysls of Changes In net funds At l April 2023 Cash flowsAt 31 March 2024 Cash at bank and in hand 192,107 142,761) 149,346 Obligation$ under finance lease8 {3,590} 3,590 188,517 139,171) 149.346 23 Legal statu$ of the charlty The Charity 18 8 company limitsd by guarantee and does not have a share capital. It 18 govemed by a Memorandum & Articl8s of Association and the liabilfty of e8¢h member Is limlted to an amount not 8xceedlng £1. -27-