RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) SOUTH EAST SCOTLAND AREA MEETING
SCOTTISH CHARITY NUMBER: SC019165
REPORT AND FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2025
RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) SOUTH EAST SCOTLAND AREA MEETING
YEAR ENDED 31 DECEMBER 2025
CONTENTS
| PAGE | |
|---|---|
| Trustees’ Report | 3-13 |
| Report of the Independent Examiner | 14 |
| Statement of Financial Activities | 15 |
| Balance Sheet | 16 |
| Statement of Cash Flows | 17 |
| Notes forming part of the financial statements | 18-33 |
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RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) SOUTH EAST SCOTLAND AREA MEETING
YEAR ENDED 31 DECEMBER 2025
INTRODUCTION
This is the Annual Report for South East Scotland Area Meeting of the Religious Society of Friends (Quakers) for the year ended 31st December 2025. It describes Quaker activities in the area during 2025, and serves as the formal report of the trustees of SESAM to the Office of the Scottish Charity Regulator (OSCR).
SUMMARY
The charitable object of South East Scotland Area Meeting (SESAM) is the furtherance in the area of South East Scotland and beyond of the general religious and charitable purposes of the Religious Society of Friends (Quakers), as laid down in the book Quaker faith & practice . SESAM arranges Quaker Meetings for Worship, owns or rents buildings in which these take place and supports Quaker witness and charitable objectives that align with Quaker testimonies for peace, equality and the environment.
GOVERNANCE
The Religious Society of Friends is a Christian denomination founded in Britain in the seventeenth century and commonly known as Quakers. Britain Yearly Meeting is one of many such groupings of Quakers around the world. For the purpose of charity regulation its principal objective is described as the advancement of religion. Quaker faith & practice is the nearest equivalent to a governing document for the whole Society, and constitutes our book of Christian discipline. It was first issued in manuscript form in 1738 and has been rewritten periodically. The most recent (fifth) print edition was published in 2013. The online edition includes later updates.
Quaker faith and practice gathers descriptions of Quaker experience through the centuries. It also describes how Quaker communities reach decisions. Within a business meeting, also known as ‘a meeting for worship for church affairs’, the Friends present seek to know the will of God for that community. When this is discerned it is written down by the clerk of the meeting in a minute which is agreed within the same meeting. No votes are taken. That is how decisions are taken by Area Meetings, including SESAM, which is one of about 70 Area Meetings in Britain Yearly Meeting. Membership of the Society is held within the Area Meetings, and this is also the main charitable and accounting unit. In this report South East Scotland Area Meeting as an entity is abbreviated to “SESAM” while “Area Meeting” refers to an event: one of the business meetings of SESAM.
SESAM adopted its governing document in October 2007 with minor revision in 2021. It requires appointment of trustees from among its membership, on the recommendation of its nominations committee. SESAM also appoints other office bearers. They include a clerking team, a registering officer for marriages, members of a nominations committee, elders and pastoral teams. The SESAM treasurer is a trustee ex officio, and the SESAM clerk attends trustees ’ meetings, but is not a trustee. New trustees are encouraged to attend training courses for trustees organised by Woodbrooke Quaker Study Centre and to participate in networks organised by Britain Yearly Meeting staff to enable sharing of experience and best practice.
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RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) SOUTH EAST SCOTLAND AREA MEETING
YEAR ENDED 31 DECEMBER 2025
By the end of 2025 SESAM had 250 members across its nine meetings, a net increase of one over the year. In addition, a similar number of non-members (known as ‘attenders’) regularly attend meetings for worship and participate in other aspects of the life of the Society. SESAM held six meetings for church affairs during 2025. Average participation at these Area Meetings was 46 members and 4 attenders. Four of the meetings were held in Edinburgh, one each in Kirkcaldy and East Linton. Some Friends participated remotely by video link, but most were physically present in the room. Local meetings held their own meetings for church affairs in the same manner to consider local issues and concerns.
Trustees were represented at each Area Meeting to listen, report, present issues for consideration, answer questions, and participate as SESAM members. A meeting of trustees was held in the few weeks before each Area Meeting to prepare recommendations and reports. An additional meeting of trustees was held in October to consider the three year outline budget for 2026-2028. Trustees meetings, like Area Meetings, are held according to Quaker discipline, in a spirit of worship with no votes taken. All trustees were present at six of the seven meetings; apologies were received from one trustee for one meeting. Four of the trustees meetings were attended by the SESAM clerk. Online access was provided and used for participation by one or more trustees on some occasions. Decisions taken between meetings on the basis of email exchanges were recorded in the minutes of the following trustees meeting.
WORSHIP
Our life as a religious society revolved around the nine regular public meetings for worship held in our two meeting houses, in Edinburgh and in Kelso, and in rented premises around SE Scotland:
Central Edinburgh (Edinburgh Quaker Meeting House on Victoria Terrace) South Edinburgh (meeting in Morningside) East Lothian (meeting in Dunbar) Kelso (Kelso Meeting House in Abbey Row) Central Fife (meeting in Kirkcaldy and Dunfermline) Penicuik (meeting in a Friend ’ s home) Falkirk and Polmont (meeting in Falkirk) Portobello and Musselburgh (meeting in both places) Tweeddale (meeting in Friends’ homes)
There were also three other worshipping groups which meet regularly:
Midweek Meeting (Edinburgh Quaker Meeting House) Edinburgh North (meeting in Friends’ homes) Berwick upon Tweed (under the joint care of SESAM and Northumbria AM)
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RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) SOUTH EAST SCOTLAND AREA MEETING
YEAR ENDED 31 DECEMBER 2025
COMMUNITY
The work of Friends in pastoral support, arranging funerals and weddings, serving as elders within our meetings, bringing flowers for the meeting room and making tea and coffee after worship is largely beyond the purview of trustees and therefore of this report but is another vital part of our life as a religious community. One Area Meeting included a workshop on how best to welcome people into our worshipping communities.
WITNESS
A leading to act out a witness to our testimonies to equality, simplicity, peace and preservation of our environment may be taken up as a “concern” by individual members, by local meetings or by Area Meeting. These are reported in our bimonthly publication SESAME , in local meeting newsletters and communications, and in the magazine Scottish Friend which used to be published by General Meeting for Scotland available via www.quakerscotland.org.
Along with other Quakers in Scotland we continued our financial support for our Scottish Parliamentary Engagement Officer. A Parliamentary Engagement Working Group coordinates this activity and regular reports are brought to our Area Meeting .
During 2025 concerns of SESAM included:
CLIMATE CHANGE
Friends have become increasingly involved in working for national changes, and are continuing to push for further changes in our personal actions and in our meeting houses to contribute to reducing carbon dioxide emissions. Workshops in Edinburgh based around the related “work that reconnects” were supported by SESAM.
PEACE
The longstanding Quaker concern for peace continues to be strongly represented in SESAM. Actions include campaigning against nuclear weapons; against the arms trade; against militaristic education in schools; supporting non-violent communication methods and solutions; and participating in open meetings and vigils in support of peace work. Minute 2025/09/03 of SESAM read, in part:
“ We continue to feel distress at events in Gaza and the West Bank and the apparent unwillingness of the UK government to take robust action towards the government of Israel. We are grateful to those who organised a meeting for worship in Princes Street Gardens, Edinburgh, in advance of the national demonstration on Saturday 19 July; minute 30 of Britain Yearly Meeting 2025 was read during worship. We encourage further public action in support of Minute 30 and ask that the clerking team be kept informed.”
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EQUALITY
Support for refugees has been a long-standing Quaker concern. During 2025 Friends were present at the Cladhan Hotel in Falkirk to support the rights of asylum seekers and demonstrate opposition to attempts to divide communities. Minute 2025/09/06 of SESAM read, in part:
“We have heard … about the ongoing series of demonstration and counter-demonstration outside the Cladhan Hotel in Falkirk, which houses people seeking asylum in the UK. We welcome the presence of Quakers in counter-demonstrations. … We have heard that there is a mixture of motives on the part of those demonstrating against the presence in the town of people seeking asylum. Local people who would not see themselves as racist are there alongside far-right infiltrators. We recognise that there are those who are experiencing poverty and feeling disenfranchised who feel resentment against those in the hotel. We support those who seek to build bridges, while still protecting those in the hotel.”
SESAM received a minute from Central Edinburgh Local Meeting reading, in part: “Lancaster Quakers have issued an apology and have announced a series of other actions following research into their involvement with the trans-Atlantic slave trade and enslavement of people. … Is it now time for Quakers in Edinburgh and South-East Scotland to undertake research into the involvement of our Quaker ancestors in enslavement?” SESAM agreed to adopt this concern and also invited the new Quakers in Scotland body to consider it on a Scotland wide basis.
We continue to offer a hardship fund for members and attenders in SESAM. We liaised with other groups in setting up a warm space in Edinburgh Meeting House throughout January and February. Minute 2025/03/03 of SESAM recorded the experience of running the warm space, reading, in part,
“Altogether there were 34 non-Quaker and an additional 12 Quaker visitors, some of whom came more than once, making 46 visits in total. These included 3 children. A few people had seen one of the posters or read about it online; the majority came because they were passing by, some having spotted the banner. There were fewer visitors displaying mental health vulnerability than last year though loneliness was evident in some cases.”
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RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) SOUTH EAST SCOTLAND AREA MEETING
YEAR ENDED 31 DECEMBER 2025
FINANCE
Voluntary contributions of those who attend Meetings for Worship, including legacies, are our major source of income. These help to support the upkeep or renting of premises in which to worship as well as other charitable activities. Contributions may be given without restriction to SESAM, or earmarked for a local meeting or for passing on to the bodies to which SESAM belongs and makes a regular contribution, including Britain Yearly Meeting and General Meeting for Scotland. The other major source of SESAM’s income is lettings; of rooms at the two meeting houses and of one of the two flats owned by SESAM which adjoins Edinburgh Meeting House but is no longer required for staff.
RESERVES
During 2025 we revisited our reserves policy in the light of increasing costs and consider that £200,000 is now a reasonable target. At 31 December 2025, the level of unrestricted reserves was £681,000 (2024: £698,000), largely due to legacies received in 2018 and 2024.
BUDGET
SESAM approved a recommendation from its trustees for a three year budget which will make good use of the 2024 legacy, reduce reserves to near the target level, invest in our buildings to make them financially and environmentally sustainable in the long term, and fund other projects to further our charitable objectives. Proposals for projects were invited in November 2025 for consideration early in 2026.
Edinburgh Meeting House Management Committee have agreed to consider capital expenditure for improvements to the building. By 2029 these investments should enable the meeting house to cover its day to day costs from letting income, plus a figure representing the Quaker use of the building, currently estimated at £25,000 p.a.
INVESTMENTS POLICY
When SESAM set up an account with Rathbone Greenbank in 2019 following receipt of a large legacy, it was agreed that investments should be made in funds with agreed ethical objectives, a low risk profile and an intended investment period of three to five years. A review meeting was held with Rathbone Greenbank in 2025. Trustees remain committed to the ethical objectives. Investment policy will be reconsidered as reserves fall to near the target level.
FUNDS
Restricted Funds are those where the donor has stipulated the use to which the funds may be put. Funds at the disposal of Local Meetings have been confirmed as restricted funds. Unrestricted Funds are those which may be spent entirely at the discretion of SESAM within the terms of its charitable aims. Funds which SESAM itself has set aside for specific projects are treated as Designated Funds.
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RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) SOUTH EAST SCOTLAND AREA MEETING
YEAR ENDED 31 DECEMBER 2025
GRANT-MAKING
Every year SESAM makes contributions to both Britain Yearly Meeting and General Meeting for Scotland to fund their work for Quaker witness in Britain and in Scotland as well as further afield. The contribution to General Meeting for Scotland has taken the form of a quota based on the number of members within SESAM as a proportion of the Scottish membership of the Religious Society of Friends (currently about 37%). The functions of General Meeting for Scotland have now been taken over by a new SCIO, ‘Quakers in Scotland’ or QiS (see final paragraph). Britain Yearly Meeting provides technical support and training for those who serve their Meetings in specialised areas such as trustees, treasurers, clerks and registering officers. General Meeting for Scotland (now QiS) undertakes representational work among religious groups throughout Scotland and provides a forum for Quakers in Scotland to share matters of common concern. General Meeting for Scotland (now QiS) also provides guidance and some funding for the Parliamentary Engagement Officer and Regional Development Worker in Scotland, both of whom are employed by Britain Yearly Meeting.
SESAM provides bursaries to its members and others, including young people, to attend Quaker meetings, events and courses. Some events, such as the family weekend at Wiston Lodge, are organised by Friends in SESAM and subsidised by SESAM. SESAM also supports charitable work undertaken by its own members and other charities undertaking work supported by the membership and in line with our charitable objectives.
The John Wigham (Enjoyment) Trust makes grants to “deserving persons resident in Scotland who owing to straitened circumstances are unable to enjoy the usual pleasures of life, the purpose of such grants being to provide the recipients with some additional comfort or pleasure of an exceptional nature over and above the usual necessities of life.” Since the Trust was established in 2002, more than 150 grants have been distributed to Quakers and non-Quakers from all over Scotland to enable them to experience some aspect of enjoyment in their lives. Reports on grants made by the trust are published regularly in SESAM’s newsletter, SESAME .
FINANCIAL RESULTS
Financial results for 2025 and the position at the end of the year are shown in the attached statements.
The net financial result before other recognised gains was a deficit of £22,893 as compared to a surplus of £255,586 in 2024. The overall result in 2025, after accounting for investment gains, is a deficit of £14,457 compared to a surplus of £258,190 (after accounting for investment gains) as reported in 2024.
Local meeting activities overall generated a surplus of £12,478 whereas the running of the Area Meeting and the two meeting houses at Edinburgh & Kelso generated a deficit of £26,935. Unrestricted donations were comparable to the prior year and income from trading activities was up 12.5% on the previous year. Excluding the legacy income in the prior year the deficit on the AM & meeting houses in 2024 was £51,158 so the result in 2025 is a significant improvement. Income from charitable activities was 4% up on the prior year including another successful Wiston Lodge weekend as well as increased special collections for other charitable organisations. Investment income improved by £2,140 resulting from higher bank interest as there was more cash on deposit following the
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RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) SOUTH EAST SCOTLAND AREA MEETING
YEAR ENDED 31 DECEMBER 2025
receipt of the 2024 legacy. Expenditure has been generally well controlled with some compensating variances. Staffing costs increased by 10.7% and repairs and cleaning costs were also higher than last year. However, Council Tax and governance fees fell due respectively to the external rental of one of the flats and return to independent examination in 2025 after audit in 2024. Grant making was comparable with 2024 (excluding the large one-off donation to Edinburgh Refugees following the wind-up of the Fàilte Edinburgh project in 2024). There were no major capital improvements in 2025.
PROPERTY
SESAM owns two meeting houses: one in Kelso and the other in Edinburgh Old Town. They were revalued professionally in 2023. The meeting houses act as focal points not only for Quakers but for the wider community, their rooms and facilities being made available for community groups and other users at a modest charge.
Lettings at Central Edinburgh have historically been a significant source of income for SESAM. They have continued to improve after the disruption of the COVID pandemic. Lettings at Kelso have also increased, though this is a small fraction of income by comparison. The central Edinburgh property includes two flats which have historically been used for staff accommodation but, following a review of needs, one of these was let out commercially in 2025 to provide additional income.
Edinburgh Meeting House is run by a Meeting House Management Committee appointed by SESAM and a number of paid staff. Kelso Meeting House has no employed staff, but the premises committee engages a cleaner for regular servicing of the building.
In 2025 a number of steps were taken to implement the recommendations of the quinquennial review of Edinburgh Meeting House by our architect. Four trustees took part in a tour of the building with members of the Meeting House Management Committee and the new managers to consider possible repairs and improvements, particularly to accessibility, heating, ventilation and the ground floor welcome area. These are intended to both increase letting income and make the building more attractive for Quaker use.
EMPLOYMENT
The Area Meeting employ a number of staff to manage the Edinburgh Meeting House. The job sharing managers live in one of the adjoining flats which comprise part of SESAM’s property. During 2025 they were line-managed by the convenor of the Meeting House Management Committee, and in turn managed the other staff there. Wages continued to be adjusted in line with the the Real Living Wage.
RISKS
During 2025 a register of risks was developed by Trustees and shared with SESAM. This currently covers 21 risks, giving each one a rating on a 1-5 scale for likelihood and another for its impact were it to materialise. The two ratings produce an overall ranking on a scale of 1-25. Some risks are reviewed at each meeting of trustees and additional mitigations identified. Risks range from the practical (fraud, fire, failure of safeguarding) to the more theological (congregationalism, factionalism).
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SUSTAINABILITY
For many years members of the Religious Society of Friends have upheld a commitment to reducing global warming and mitigating climate change, known as the “Canterbury Commitment” following a decision taken at a Yearly Meeting held in Canterbury in 2011. Britain Yearly Meeting has asked Area Meetings to include an annual statement about activities and progress towards becoming low-carbon communities.
In 2025 the architect’s quinquennial review of Edinburgh Meeting House recommended a survey and review of heating and ventilation options such as heat pumps. This will be taken forward in 2026. Edinburgh and Kelso Meeting Houses are well placed for local public transport, and public transport options are considered in all planning for SESAM activities.
QUAKERS IN SCOTLAND
A new body called “Quakers in Scotland”, or QiS for short, was registered as a Scottish Community Interest Organisation in 2025. The creation of QiS, was intended to simplify Quaker structures, reduce the number of roles to be filled and enable Area Meetings to relinquish responsibilities. Three Area Meetings (for North, East and West Scotland) and General Meeting for Scotland have decided to lay themselves down and transfer all their assets and responsibilities to the new body. The creation of QiS was agreed and welcomed by SESAM at least as a way of meeting the needs of other areas, but there was no agreement on the dissolution of SESAM. A “threshing meeting” took place during 2025 to enable views to be heard. SESAM considered the results of this threshing meeting and its minute 2025/05/09 read, in part:
“ We are reminded that as things stand, ‘joining’ Quakers in Scotland means the dissolution of our Area Meeting as a charity. We have heard of the joy and excitement felt by some at the process we have been through in setting up Quakers in Scotland and the opportunities for shaping the change that is to come. Others are not reassured by the current process. There is a feeling that greater detail is needed on matters such as funds.”
Discussion of the right relationship between SESAM and QiS continued through 2025. Members of SESAM continue serve QiS including as trustees and take full part in its meetings. SESAM trustees did not take a collective view on whether SESAM should lay itself down, but prepared to work with QiS trustees to gain the benefits of Scotland-wide collaboration, whatever decision SESAM may take on its continued existence.
ACKNOWLEDGEMENTS
Trustees, the treasury team, and management committee, express their thanks to the Area Meeting’s accountant, Heather Hartman, for her work and advice during the year, and to all the staff at Edinburgh Meeting House for their continuing flexibility in meeting new challenges in serving the needs of users of that building.
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RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) SOUTH EAST SCOTLAND AREA MEETING
YEAR ENDED 31 DECEMBER 2025
AREA MEETING RESPONSIBILITIES
Law applicable to charities in Scotland requires the Area Meeting to prepare financial statements for each financial year which give a true and fair view of its financial activities during the year and of its financial position at the end of the year. In preparing its financial statements, the Area Meeting is required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Statement of Recommended Practice for Charities (the Charities SORP);
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on a going concern basis unless it is inappropriate to presume that the Area Meeting will continue in operation.
The Area Meeting has appointed a body of trustees as required by its 2007 governing document. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Area Meeting and which enable the trustees to report that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, and the Charities Accounts (Scotland) Regulations 2006 (as amended), the Area Meeting’s governing document, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities (Charities SORP FRS102).
The trustees are responsible for safeguarding the assets of the Area Meeting and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In accordance with good practice recommendations by OSCR, all Trustees have completed a declaration of eligibility.
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RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) SOUTH EAST SCOTLAND AREA MEETING
YEAR ENDED 31 DECEMBER 2025
REFERENCE AND ADMINISTRATIVE DETAILS
SCOTTISH CHARITY NUMBER: SC019165
PRINCIPAL OFFICE:
The Quaker Meeting House, 7 Victoria Terrace, Edinburgh EH1 2JL
ADVISERS:
Accountant
Heather Hartman BA (Hons) CA, Hartman Figures Limited T/A Charity Figures c/o 9 Ainslie Place, Edinburgh, EH3 6AT
Independent Examiner
David Jeffcoat FCCA, TC Group, 1 Lochrin Square, 92-98 Fountainbridge, Edinburgh EH3 9QA.
Bankers
Bank of Scotland, PO Box 17235 Edinburgh EH11 1YH
Triodos Bank, Deanery Road, Bristol BS1 5AS
Charity Bank Ltd., Fosse House, 182 High Street, Tonbridge TN9 1BE
Investment Managers
Rathbone Greenbank Investments, 10 George Street, Edinburgh, EH2 2PF
Solicitors
Balfour + Manson, 56-66 Frederick Street, Edinburgh EH2 1LS
OFFICE BEARERS (2025):
Area Meeting Clerking Team
Alastair Cameron (Area Meeting Clerk) to 30 September 2025 Catherine Dyer (Area Meeting Assistant Clerk to 31 May 2025) Sara Davies (from 1 April 2025) Jacqueline Noltingk (from 1 November 2025) Esther Shreeve (Assistant Clerk (Membership))
Jonathan Riddell (Treasurer)
KEY MANAGEMENT PERSONNEL
Meeting House managers
Andrew Tucker and Samantha Searle
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RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) SOUTH EAST SCOTLAND AREA MEETING
YEAR ENDED 31 DECEMBER 2025
TRUSTEES during 2025:
Ben Davies (to 14:1:2025) Katrina McCrea Mark Ballard
Jonathan Riddell (ex officio as Treasurer) Ian Robertson Martin Ward (clerk to Trustees)
TRUSTEES at the time of signing
Katrina McCrea Ian Robertson Mark Ballard Robert Robertson Jonathan Riddell (ex officio) Martin Ward (clerk to Trustees)
The clerk of SESAM (Alastair Cameron to 30:9 2025, thereafter Sara Davies) attended some meetings of Trustees as envisaged in the governing document).
Henry Thompson (Convenor of Edinburgh Quaker Meeting House Management Committee) attended meetings of trustees during the year for relevant items.
This Report was approved by the trustees on 12[th] May 2026. It was signed on their behalf by Martin Ward.
This Report and the Statement of Accounts for 2025 were presented to an Area Meeting held in Edinburgh on 11[th] July 2026 and the Clerk of the Area Meeting was authorised to sign them.
Martin Ward (Clerk to Trustees) Sara Davies (Area Meeting Clerk)
Date: 11[th] July 2026
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RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) SOUTH EAST SCOTLAND AREA MEETING
YEAR ENDED 31 DECEMBER 2025
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE AREA MEETING
I report on the financial statements for the year ended 31st December 2025 as set out on pages 15 to 33.
Respective responsibilities of the Trustees and the Independent Examiner
The trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulation 2006 (as amended). 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 I do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
In the course of my examination, no matter has come to my attention:
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That gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with Section 44 (1)(a) of The Charities and Trustee Investment (Scotland) Act 2005 and Regulation 4 of the 2006 Accounting Regulations (as amended); and
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to prepare accounts which accord with the accounting records and comply with Regulation 8 of the Accounting Regulations 2006 (as amended) have not been met; or
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To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
David Jeffcoat FCCA TC Group 1 Lochrin Square 92-98 Fountainbridge Edinburgh EH3 9QA
Date:
11/8/2026
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RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) SOUTH EAST SCOTLAND AREA MEETING
YEAR ENDED 31 DECEMBER 2025
STATEMENT OF FINANCIAL ACTIVITIES
| Notes Unrestricted | Notes Unrestricted | Restricted | 2025 | 2024 | |
|---|---|---|---|---|---|
| £ | £ |
£ | £ | ||
| Income from: | |||||
| Donations and legacies | 3 | 65,018 | 58,665 |
123,683 | 433,710 |
| Charitable activities | 4 | 149 | 22,590 |
22,739 | 21,837 |
| Other trading activities | 5 | 121,295 | 221 |
121,516 | 107,810 |
| Investment income | 6 | 12,351 | 900 |
13,251 | 11,111 |
| Total income | 198,813 |
82,376 |
281,189 |
574,468 |
|
| Expenditure on: | |||||
| Raising funds | 7 | 111,441 | 636 |
112,077 | 111,736 |
| Charitable activities | 8 | 136,765 | 55,240 |
192,005 | 207,146 |
| Total resources expended | 248,206 | 55,876 |
304,082 | 318,882 |
|
| Net (outgoing)/incoming resources before | |||||
| other recognised gains / (losses) | (49,393) | 26,500 |
(22,893) | 255,586 | |
| Unrealised gains on investments | 15 | 8,436 | - |
8,436 | 2,604 |
| Realised (losses)/gains on investments | - | - |
- | - | |
| Gains on revaluation of fixed assets | 14 | - |
- |
- |
- |
| Net income/(expenditure) | (40,957) | 26,500 |
(14,457) | 258,190 | |
| Gross transfers between funds | 14,022 | (14,022) |
- | - |
|
| Net movement in funds | (26,935) | 12,478 | (14,457) | 258,190 | |
| Total funds at 1 January 2025 | 2,436,801 | 110,074 |
2,546,875 | 2,288,685 |
|
| Total funds at 31 December 2025 | 2,409,866 |
122,552 |
2,532,418 |
2,546,875 |
The charity has no other recognised gains or losses other than the result for the year as set out above. All activities of the charity are classified as continuing.
The notes on pages 18 to 33 form part of the financial statements.
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RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) SOUTH EAST SCOTLAND AREA MEETING
YEAR ENDED 31 DECEMBER 2025
| BALANCE SHEET | BALANCE SHEET | |||
|---|---|---|---|---|
| 2025 | 2024 | |||
| Notes | £ | £ | ||
| Fixed assets | ||||
| Tangible assets | 14 | 1,728,624 | 1,744,279 | |
| Investments | 15 | 275,500 | 259,311 |
|
| 2,004,124 | 2,003,590 | |||
| Current assets | ||||
| Debtors | 16 | 24,155 | 18,121 | |
| Short term deposits | 283,546 | 136,386 | ||
| Cash at bank and in hand | 249,790 | 425,377 |
||
| 557,491 | 579,884 | |||
| Creditors: Amounts falling due | ||||
| within one year | 17 | (29,197) | (36,599) |
|
| Net current assets | 528,294 | 543,285 |
||
| Total assets less current liabilities | 2,532,418 | 2,546,875 |
||
| Funds | ||||
| Unrestricted funds | 18 | |||
| General funds | 658,497 | 642,742 | ||
| Designated funds | ||||
| Property & Property Improvements | 1,710,000 | 1,710,000 | ||
| Fixtures and fittings | 18,476 | 29,149 | ||
| Various | 22,893 | 54,910 |
||
| 2,409,866 | 2,436,801 | |||
| Restricted funds | 19 | 122,552 | 110,074 |
|
| 2,532,418 | 2,546,875 |
These accounts were approved at an Area Meeting held on 11[th] July 2026 and signed by:
Jonathan Riddell (Treasurer to Area Meeting)
Martin Ward (Clerk to Trustees)
The notes on pages 18 to 33 form part of the financial statements.
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YEAR ENDED 31 DECEMBER 2025
STATEMENT OF CASH FLOWS
| Notes Cash flows from operating activities 23 Cash flows from investing activities Investment income received Receipts from the sale of investments Purchases of investments Purchase of tangible assets Net cash in/(out) flow from investing activities (Decrease)/increase in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Total cash and cash equivalents at the end of the year Cash and cash equivalents compromise: Cash held as part of the investment portfolio Short term deposits Cash at bank and in hand |
2025 £ (33,925) 13,251 - (9,307) - 3,944 (29,981) 563,432 533,451 115 283,546 249,790 533,451 |
2024 £ 279,930 11,111 - (6,521) (26,692) (22,102) 257,828 305,604 563,432 1,669 136,386 425,377 563,432 |
|---|---|---|
The notes on pages 18 to 33 form part of the financial statements.
17
RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) SOUTH EAST SCOTLAND AREA MEETING
YEAR ENDED 31 DECEMBER 2025
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
1. CHARITY INFORMATION
The Religious Society of Friends (Quakers): South East Scotland Area Meeting is an unincorporated Scottish charity with registered number SC019165. The Principal Office is: The Quaker Meeting House, 7 Victoria Terrace, Edinburgh EH1 2JL.
2. ACCOUNTING POLICIES
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
Basis of accounting
The accounts have been prepared 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 (FRS102)– Charities SORP (FRS102) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).
The presentational currency in the financial statements is Pound Sterling and the level of rounding is to the nearest pound.
Religious Society of Friends (Quakers) South East Scotland Area Meeting meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless stated in the relevant accounting policy note(s).
Judgements and Key Sources of Estimation Uncertainty
The preparation of the financial statements requires the Trustees to make judgements, estimates and assumptions which affect reported income, expenditure, assets and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with past experience and expectations of future events that are believed to be reasonable. Actual results in the future could differ from such estimates.
Judgements
The judgements (apart from those involving estimations) that management have made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:
In relation to the charity’s properties: The Trustees consider that the value of the properties at 31 December 2025 is not materially different to the amounts reported in professional valuations carried out in March 2023.
Key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:
The estimated useful economic life and residual value of the properties is considered to be not materially different to the current value stated in the accounts and consider a depreciation charge in respect of the properties is not necessary.
18
RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) SOUTH EAST SCOTLAND AREA MEETING
YEAR ENDED 31 DECEMBER 2025
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
2. ACCOUNTING POLICIES (cont’d)
Preparation of the accounts on a going concern basis
The trustees consider that there are no material uncertainties about the ability of the charity to continue as a going concern for the foreseeable future. Accordingly, the accounts have been prepared on a going concern basis.
Income
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:
-
Income from donations and legacies includes all income that is in substance a gift, made to the charity on a voluntary basis. This is included in full in the Statement of Financial Activities when receivable. Grants of a general nature, where entitlement is not conditional on delivery of a specified level of service, are recognised when the charity becomes unconditionally entitled to the grant. A legacy, in whole or part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.
-
Income from charitable activities includes income earned both from the supply of services and from performance-related grants which have conditions that specify the provision of particular services to be provided by the charity. Grants where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.
-
Income from other trading activities includes income earned from trading activities to raise funds for the charity and is recognised when receivable. The Quaker Meeting House in Edinburgh is used as a venue during the Edinburgh International Festival Fringe in normal years. Members from throughout the Area Meeting participate in all aspects of running this venue, funds raised through and expended on behalf of this activity being accounted for in a separate festival committee account, a designated fund of the Area Meeting. In addition, funds are raised through sales for the public, including catering, within the Edinburgh Meeting House.
-
Investment income is included when receivable.
-
Acting as agent: The Area Meeting acts as agent in passing funds, received from the public for performances during the Edinburgh Festival Fringe, directly to performing companies. These transfers are not shown in the accounts.
19
RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) SOUTH EAST SCOTLAND AREA MEETING
YEAR ENDED 31 DECEMBER 2025
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
2. ACCOUNTING POLICIES (cont’d)
Expenditure
All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay. All costs have been directly attributed to one of the functional categories of resources expended in the Statement of Financial Activities. The charity is not registered for VAT and accordingly expenditure is shown gross of irrecoverable VAT.
-
Expenditure on raising funds includes all expenditure incurred by a charity to raise funds for its charitable purposes. It comprises expenditure incurred in advertising Quaker activities to the public and in selling items (such as refreshments) to the public in the Quaker meeting houses. The expenses shown are the cost of such items as well as the cost associated with using the meeting house as a venue during the Edinburgh Festival Fringe.
-
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries including grant making. It includes both costs that can be directly attributed to such activities and those of an indirect nature necessary to support them including costs related to the governance of the charity. Grants payable are made in line with the objectives of the Area Meeting. The Area Meeting gives priority to Quaker bodies but does consider grants to other organisations.
The value of services provided by volunteers has not been included in these accounts as the monetary value is not easily measured.
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. They comprise the costs associated with employing the meeting house managers and with running the two Quaker meeting houses. The meeting houses support all Quaker activity within the Area Meeting and, in addition, they provide a facility for the use of local communities (through which they contribute to Quaker fundraising).
The bases on which support costs have been allocated are set out in note 8.
Pensions
The charity operates a defined contribution pension scheme for all employees who have elected to participate. The assets of the schemes are held separately from those of the charity in an independently administered fund.
Fund accounting
Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available for any purpose of the Area Meeting. The Area Meeting makes transfers for internal purposes between its funds; these are shown gross in the Statement of Financial Activities (SOFA) and in more detail in Notes 18 and 19.
Designated funds are unrestricted funds earmarked by the charity for particular purposes. Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.
20
RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) SOUTH EAST SCOTLAND AREA MEETING
YEAR ENDED 31 DECEMBER 2025
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
2. ACCOUNTING POLICIES (cont’d)
Fixed assets
-
Land and buildings are shown at their market value at the date of their valuation with no adjustments for appreciation or depreciation. Although they are normally revalued at approximately five-year intervals, the Trustees decided to obtain revaluations in March 2023 in connection with their planning for the future.
-
All capital expenditures over £1,000 are capitalised by the charity for its charitable purposes.
-
Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life as follows: Fixtures and fittings: - 20 % straight line.
Investments
Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the market value at the balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.
The charity does not acquire put options, derivatives or other complex financial instruments.
The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of the investors to investment risk, and changes in sentiment concerning equities and within particular sectors and sub sectors.
Debtors
Debtors are recognised at the settlement amount due after any discount offered. Prepayments are recognised at the amount prepaid after taking account of any discounts due.
Cash at Bank and In Hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or the opening of the deposit or similar account.
Creditors
Creditors are recognised where South East Scotland Area Meeting has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any discounts due.
Financial Instruments
The charity only has financial assets and financial liabilities that qualify as basic financial instruments. Basic financial instruments are initially measured at transaction value and subsequently measured at their settlement value.
21
RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) SOUTH EAST SCOTLAND AREA MEETING
YEAR ENDED 31 DECEMBER 2025
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
3. Donations and legacies
| Donations and legacies | ||
|---|---|---|
| Unrestricted Restricted funds funds £ £ Donations from members and Other individuals 62,890 58,665 Legacies 128 - Grants:Francis Camfield Trust 2,000 - 65,018 58,665 |
2025 Total £ 121,555 128 2,000 123,683 |
2024 Total £ 112,351 319,959 1,400 |
| 433,710 |
The income from donations and legacies totalled £123,683 (2024: £433,710) of which £65,018 was unrestricted (2024: £386,183) and £58,665 was restricted (2024: £47,527). The charity benefits greatly from the involvement and enthusiastic support of volunteers, details of which are given in our annual report. In accordance with accounting standards, the economic contribution of general volunteers is not measured in the accounts.
4. Income from charitable activities
| Unrestricted Restricted funds funds £ £ Income from Quaker activities 149 22,590 149 22,590 |
2025 Total £ 22,739 22,739 |
2024 Total £ 21,837 |
|---|---|---|
| 21,837 |
The income from charitable activities in the year totalled £22,739 (2024: £21,837) of which £149 was unrestricted (2024: £588) and £22,590 (2024: £21,249) was restricted.
5. Income from other trading activities
| Unrestricted Restricted funds funds £ £ Room lettings 74,107 - Flat letting 10,045 - Letting catering 23,398 - Festival venue income 12,500 - Sales of books & foyer refreshments 1,245 221 121,295 221 |
2025 Total £ 74,107 10,045 23,398 12,500 1,466 121,516 |
2024 Total £ 62,972 - 24,903 19,100 835 |
|---|---|---|
| 107,810 |
The income from other trading activities in the year totalled £121,516 (2024: £107,810) of which £121,295 (2024: £107,810) was unrestricted and £221 (2024: £nil) was restricted.
22
RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) SOUTH EAST SCOTLAND AREA MEETING
YEAR ENDED 31 DECEMBER 2025
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
| Unrestricted Restricted 6. Investment Income Funds Funds £ £ Dividends 6,822 - Bank interest 5,529 900 12,351 900 |
2025 Total £ 6,822 6,429 13,251 |
2024 Total £ 6,582 4,529 11,111 |
|---|---|---|
The income from investment income in the year totalled £13,251 (2024: £11,111) of which £12,351 (2024: £9,932) was unrestricted and £900 (2024: £1,179) was restricted.
7. Analysis of expenditure on raising funds
| Unrestricted Restricted funds funds £ £ Goods for sale at Meeting House 16,270 - Periodicals & PRS cost 192 - Support costs of raising funds (note 10) 94,979 636 111,441 636 |
2025 Total £ 16,270 192 95,615 112,077 |
2024 Total £ 14,330 92 97,314 |
|---|---|---|
| 111,736 |
The expenditure on raising funds in the year totalled £112,077 (2024: £111,736) of which £111,441 (2024: £110,730) was unrestricted and £636 (2024: £1,006) was restricted.
23
RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) SOUTH EAST SCOTLAND AREA MEETING
YEAR ENDED 31 DECEMBER 2025
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
8. Analysis of expenditure on charitable activities
| Unrestricted Restricted funds funds £ £ Grant Making: Britain Yearly Meeting 25,000 12,444 General Meeting for Scotland 4,376 1,129 Quakers in Scotland - 300 Northern Friends Peace Board 2,480 - Northern Friends Youth Events SCIO 1,290 - Edinburgh Refugees - - Galgael Trust - 1,500 Various grants < £1,000 - 16,171 33,146 31,544 Quaker Activities: Attendance at conferences & meetings 1,314 - Bursary help (requested by Pastoral Friends) 780 - Fàilte Edinburgh Quaker activities - - Committee expenses 610 146 Administration costs 294 - Books, newsletters, publicity & outreach 3,737 50 Reg’ & memb’ship of other org’s 292 - Activities within local meetings 1,203 10,850 Premises costs of local meetings 410 12,015 8,640 23,061 Support costs*(see note 9) 94,979 635 TOTAL 136,765 55,240 |
2025 Total £ 37,444 5,505 300 2,480 1,290 - 1,500 16,171 64,690 1,314 780 - 756 294 3,787 292 12,053 12,425 31,701 95,614 192,005 |
2024 Total £ 35,534 6,937 - 2,370 1,232 10,796 - 18,089 74,958 1,249 840 1,000 1,623 172 3,536 243 16,039 10,172 34,874 97,314 207,146 |
|---|---|---|
*All grants were made to organisations, with the exception of expenditure of £580 from the John Wigham (Enjoyment) Fund, made to individuals under the terms of the bequest. Contributions by members of Local Meetings for Special Collections passed on £11,886 (2024: £9,729) for various charitable purposes.
The expenditure on charitable activities in the year totalled £192,005 (2024: £207,146) of which £136,765 (2024: £139,339) was unrestricted and £55,240 (2024: £67,807) was restricted.
24
RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) SOUTH EAST SCOTLAND AREA MEETING
YEAR ENDED 31 DECEMBER 2025
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
9. Analysis of support and governance costs
The charity initially identifies the costs of its support functions. It then identifies those costs that relate to the governance function. Governance costs and other support costs are apportioned separately between charitable activities and raising funds for the year. Refer to the table below for the analysis of support and governance costs and the basis of apportionment.
| Meeting House expenses Wages and salaries (note 12) Council tax and utilities Repairs and maintenance Building upgrades Professional fees Recruitment costs Insurance Cleaning Office costs and minor purchases Staff training and miscellaneous expenditure Support of the Area Meeting Accounting support Independent examiner’s/audit fees (governance) Investment management fees Computing support, postage Depreciation of fixed assets Loss on disposal of fixed assets 50% allocation to raising funds (based on time) 50% allocation to charitable activities (based on time) |
2025 £ 89,586 22,807 12,975 - 2,372 - 8,992 17,468 7,275 870 8,580 2,400 1,569 680 15,655 - 191,229 95,615 95,614 191,229 |
2024 £ 80,936 28,327 6,867 1,886 550 630 9,057 15,964 6,329 3,079 8,366 10,020 1,575 757 16,117 4,168 194,628 97,314 97,314 194,628 |
|---|---|---|
25
RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) SOUTH EAST SCOTLAND AREA MEETING
YEAR ENDED 31 DECEMBER 2025
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
10. Summary analysis of expenditure and related income for charitable activities
| 11. 12. |
Grant Quaker 2025 Making Activities Total £ £ £ Costs (64,690) (127,315) (192,005) Income from Quaker activities 12,178 10,561 22,739 Net cost funded from other income (52,512) (116,754) (169,266) Net income for the year This is stated after charging: 2025 £ Depreciation 15,655 Loss on disposal of fixed assets - Independent/audit examination fee 2,400 Staff Costs 2025 The no. of staff on a head count basis 7 2025 £ Staff costs comprise: Salaries and wages 85,004 Employer’s social security costs 122 Employer’s pension costs 4,460 89,586 |
2024 Total £ (207,146) 21,837 (185,309) 2024 £ 16,117 4,168 10,020 2024 7 2024 £ 76,862 - 4,074 80,936 |
|---|---|---|
No employee was paid a salary of more than £60,000 per annum in the current or previous years. The average number of full-time staff (full time equivalents) was 2.8 (2024: 2.7).
Remuneration of key management personnel for the year, including pension contributions was £65,030 (2024: £44,535).
The office bearers were not paid remuneration in the current or previous years. £878 was reimbursed to four trustees for administration and travel costs during the year (2024: £417 for administration and travel costs to four trustees).
26
RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) SOUTH EAST SCOTLAND AREA MEETING
YEAR ENDED 31 DECEMBER 2025
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
13. Taxation
As a charity, the Area Meeting is exempt from corporation tax on its charitable activities.
14. Fixed Assets
| Fixed Assets | |||
|---|---|---|---|
| Property/ | Fixtures & | ||
| improvements | Fittings |
Total | |
| £ | £ | £ | |
| Cost/valuation | |||
| As at 1 January 2025 | 1,710,000 | 134,230 | 1,844,230 |
| Additions during year | - | - | - |
| Disposals during year | - | - | - |
| As at 31 December 2025 | 1,710,000 | 134,230 | 1,844,230 |
| Depreciation | |||
| As at 1 January 2025 | - | 99,951 | 99,951 |
| Charge for year | - | 15,655 | 15,655 |
| Release on disposal | - | - |
|
| Depreciation at 31 December 2025 | - | 115,606 | 115,606 |
| Net Book Value | |||
| As at 31 December 2025 | 1,710,000 | 18,624 | 1,728,624 |
| As at 31 December 2024 | 1,710,000 | 34,279 | 1,744,279 |
The three Edinburgh properties were valued in March 2023 by Ryden Property Consultants and Allied Surveyors, Edinburgh. They considered the market value of the properties to be £1,595,000 on this date. The Kelso property was also valued in March 2023 by Allied Surveyors, Selkirk. The market value was considered to be £115,000. The Trustees consider that the market value of the properties at 31 December 2025 is unlikely to be materially different to the March 2023 valuation amounts and therefore consider it reasonable to carry these values in the accounts. The following summarises the values at the time of the valuations:
| Edinburgh | Flat 4, | Flat 3F2, 6 | Kelso | ||
|---|---|---|---|---|---|
| Meeting | 6 | Upper Bow, | Upper Bow, | Meeting | |
| House | Edinburgh | Edinburgh | House | ||
| Market valuation | £1,000,000 | £385,000 | £210,000 | £115,000 |
27
RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) SOUTH EAST SCOTLAND AREA MEETING
YEAR ENDED 31 DECEMBER 2025
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
15. Investments
| Market value of quoted investments at 1 January 2025 Additions Disposals Unrealised gains/(losses) on revaluation Market value of investments at 31 December 2025 Cash held as part of the portfolio Historical cost of investments at 31 December 2025 The portfolio consists of: Unit Trusts Equity share capital Bonds Cash |
2025 £ 257,642 9,307 - 8,436 275,385 115 275,500 263,142 2025 £ 272,885 2,500 - 115 275,500 |
2024 £ 248,517 6,521 - 2,604 257,642 1,669 259,311 255,388 2024 £ 257,642 - - 1,669 259,311 |
|---|---|---|
All Unit Trust investments are carried at their fair value and are traded in quoted public markets, primarily the London Stock Exchange. The basis of fair value for quoted investments is equivalent to the market value, using the bid price. Asset sales and purchases are recognised at the date of trade at cost (that is their transaction value).
During the year the charity purchased 100 shares in Action Porty Limited – a community share offer to support the development of a local building used by on of the local meetings. The shares are held at cost.
The significance of the financial instruments to the ongoing financial sustainability of the charity is considered in the financial review and investment policy of the Trustees Annual Report.
The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of the investors to investment risk, and changes in sentiment concerning equities and within particular sectors and sub sectors, particularly as the charity is reliant on the dividend yield in part to finance its work.
The charity has managed the investment risks by retaining an expert advisor and operating an investment policy that provides for a high degree of diversification of holdings quoted on a recognised stock exchange. The charity does not make use of derivatives and other similar complex financial instruments.
28
RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) SOUTH EAST SCOTLAND AREA MEETING
YEAR ENDED 31 DECEMBER 2025
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
16. Debtors
| Debtors Prepayments Total 17. Creditors: amounts falling due within one year Creditors Accruals & deferred income Loans: Loans from members Total |
2025 £ 18,356 5,799 24,155 2025 £ 10,347 12,850 6,000 29,197 |
2024 £ 12,611 5,510 18,121 2024 £ 8,959 21,640 6,000 36,599 |
|---|---|---|
Loans from members: At 31 December 2025, £6,000 was outstanding (2024: £6,000). All loans are interest free and repayable on request within one month.
18. Unrestricted Funds – Current Year
| Balance at 1/1/25 £ General account 642,742 Property account1,710,000 Capital account 14,725 Victoria Terrace 35,358 Kelso Meeting House4,827 Fixtures and fittings29,149 2,436,801 |
Gain on Balance at Incoming Outgoing Transfers revaluation 31/12/25 £ £ £ £ £ 87,596 (57,763) (22,514) 8,436 658,497 - - - - 1,710,000 - - - - 14,725 101,156 (169,501) 43,211 - 10,224 10,061 (10,269) (6,675) - (2,056) - (10,673) - - 18,476 198,813 (248,206) 14,022 8,436 2,409,866 |
|---|---|
29
RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) SOUTH EAST SCOTLAND AREA MEETING
YEAR ENDED 31 DECEMBER 2025
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
18. Unrestricted Funds – Prior Year
| Balance at 1/1/24 £ General account 374,725 Property account1,710,000 Capital account 14,725 Victoria Terrace 39,536 Kelso Meeting House12,158 Fixtures and fittings16,856 2,168,000 |
Gain on Balance at Incoming Outgoing Transfers revaluation 31/12/24 £ £ £ £ £ 396,355 (66,145) (64,797) 2,604 642,742 - - - - 1,710,000 - - - - 14,725 98,258 (158,653) 56,217 - 35,358 9,900 (10,872) (6,359) - 4,827 - (14,399) 26,692 - 29,149 504,513 (250,069) 11,753 2,604 2,436,801 |
|---|---|
The general account is used for the main income and expenditure items of the Area Meeting. The property account represents the market value of property held and the value of any improvements work during the year.
The capital account is a designated account for legacies and donations received by the Area Meeting utilised for major capital projects.
The Victoria Terrace account is for all transactions involved in running the Edinburgh Quaker Meeting House, including its special use during the annual Edinburgh Festival. The Kelso Meeting House account is used for all transactions involved in running the Kelso Quaker meeting house.
Fixtures and fittings relate to the value of fixtures and fittings within the main Meeting House at 7 Victoria Terrace.
For transfers between unrestricted and restricted accounts, see Note 19.
19. Restricted Funds – Current Year
| Restricted Funds – Current Year | Restricted Funds – Current Year | ||||
|---|---|---|---|---|---|
| Balance at | Balance at | ||||
| 1 | Jan 2025 | Incoming | Outgoing | Transfers | 31 Dec 2025 |
| £ | £ | £ |
£ |
£ |
|
| John Wigham Trust | 5,055 | 2,950 | (2,080) |
- |
5,925 |
| Local Quaker Meetings | 104,994 | 65,554 | (39,924) |
(13,997) |
116,627 |
| Fàilte Edinburgh project | 25 |
- | - |
(25) |
- |
| Donations Fund | - | 13,872 | (13,872) |
- |
- |
| 110,074 | 82,376 | (55,876) |
(14,022) |
122,552 |
30
RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) SOUTH EAST SCOTLAND AREA MEETING
YEAR ENDED 31 DECEMBER 2025
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
19. Restricted Funds – Prior Year
| Balance at | Balance at | Balance at | |||
|---|---|---|---|---|---|
| 1 | Jan 2024 | Incoming | Outgoing | Transfers | 31 Dec 2024 |
| £ | £ | £ |
£ |
£ |
|
| John Wigham Trust | 4,869 | 2,513 | (2,327) |
- |
5,055 |
| Local Quaker Meetings | 105,541 | 53,605 | (42,399) |
(11,753) |
104,994 |
| Fàilte Edinburgh project | 10,275 |
2,025 | (12,275) |
- |
25 |
| Donations Fund | - | 11,812 | (11,812) |
- |
- |
| 120,685 | 69,955 | (68,813) |
(11,753) |
110,074 |
The John Wigham (Enjoyment) Trust was established when the Area Meeting received a legacy during 2002 from the late John Wigham for the purpose of establishing a trust to provide grants to “deserving persons resident in Scotland who owing to straitened circumstances are unable to enjoy the usual pleasures of life”. The trust was established by minute of South- East Scotland Monthly Meeting in November 2002. Inland Revenue recognition of the charitable purposes of the Trust was given in 2003. Grants may be made from income and from capital. The Area Meeting appointed three trustees who started recommending the award of grants during 2004.
Funds contributed by members or collected for use in Local Quaker Meetings within the area of South-East Scotland Area Meeting, and therefore not under the direct oversight of the Area Meeting itself, are shown as restricted. There are eight such funds, shown under the collective heading “Local Quaker Meetings”.
Fàilte Edinburgh was a project, set up through the UK Government-UNHCR Community Sponsorship Scheme, which aimed to support a refugee family in the community, providing accommodation, English language training, and help with practicalities like accessing health services, benefits, schools and jobs, and so ultimately enabling them to live independently in Edinburgh. The project closed in 2024.
The Donations Fund contains donations made by members to be passed on for Quaker work out with the Area Meeting.
Transfers between restricted and unrestricted funds:
Transfers: £14,557 was transferred from Local Quaker Meetings to the Victoria Terrace account and General account for the purposes related to the running of 7 Victoria Terrace and the Area Meeting during 2025. £500 of funds from Area Meeting were transferred to Portobello Meeting as a contribution towards the Wiston Residential weekend and £60 was transferred to Central Edinburgh meeting for reimbursement of audit bank letter fees. The residual balance of £25 from the Fàilte Edinburgh project was returned to general funds.
31
RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) SOUTH EAST SCOTLAND AREA MEETING
YEAR ENDED 31 DECEMBER 2025
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
20. Analysis of funds – Current Year
| Unrestricted | Restricted | 2025 | 2024 | |
|---|---|---|---|---|
| funds | funds | Total | Total | |
| £ | £ | £ | £ | |
| Fixed assets | 1,728,476 | 148 | 1,728,624 | 1,744,279 |
| Investments | 275,500 | - | 275,500 | 259,311 |
| Current assets | 435,087 | 122,404 | 557,491 | 579,884 |
| Creditors | (29,197) | - | (29,197) | (36,599) |
| 2,409,866 | 122,552 | 2,532,418 | 2,546,875 |
Analysis of funds – Prior Year
| Unrestricted | Restricted | 2024 | 2023 | |
|---|---|---|---|---|
| funds | funds | Total | Total | |
| £ | £ | £ | £ | |
| Fixed assets | 1,743,983 | 296 | 1,744,279 | 1,737,872 |
| Investments | 259,311 | - | 259,311 | 251,659 |
| Current assets | 470,106 | 109,778 | 579,884 | 327,321 |
| Creditors | (36,599) | - | (36,599) | (28,167) |
| 2,436,801 | 110,074 | 2,546,875 | 2,288,685 |
21. Related party transactions
Related party transactions during the year are disclosed in note 12.
22. Lease Commitments
At the reporting date the charity had commitments under non-cancellable operating leases which fall due as follows:
| Within one year Between two and five years Total |
2025 £ 577 1,298 1,875 |
2024 £ 577 1,875 2,452 |
|---|---|---|
The lease payments recognised as an expense in the year totalled £577 (2024: £538).
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RELIGIOUS SOCIETY OF FRIENDS (QUAKERS) SOUTH EAST SCOTLAND AREA MEETING
YEAR ENDED 31 DECEMBER 2025
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
23. Cash (used)/generated from operations
| Net (expenditure)/income (Gains) on investments Depreciation charge Loss on disposal of fixed assets Less investment income (Increase)/decrease in debtors (Decrease)/increase in creditors |
2025 £ (14,457) (8,436) 15,655 - (13,251) (6,034) (7,402) (33,925) |
2024 £ 258,190 (2,604) 16,117 4,168 (11,111) 6,738 8,432 279,930 |
|---|---|---|
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