Leicester Area Quaker Meeting H5.1. Annual Report and Accounts for the year ended 31 December 2012 CONTENTS LIST.

Transcription

1 Annual Report and Accounts for the year ended 31 December 2012 CONTENTS LIST. Page Annual Report for the Year ending 31 st December 2012 Objectives and Activities 3 Structure, Governance and Management 3 Spiritual life of the Area Meeting 4 Membership of the Area Meeting 5 Financial Review Financial Management 5 Expenditure Policy 5 Reserves Policy 6 Investment Policy 6 Financial Statement 6 General Information 7 Accounts for the Year ending 31 st December Area Meeting Accounts on their own 8 Consolidated Area and Local Meeting Accounts 9 Area Meeting Assets on their own 10 Reconciliation of Area Meeting Accounts on their own 11 Examiners' Certificate 12 Page 1 of 12

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3 Annual Report and Accounts for the year ended 31 December Objectives and Activities Leicester Area Quaker Meeting is a charity established for the advancement of religion and other charitable purposes according to the principles and practices of Britain Yearly Meeting of the Religious Society of Friends. As a religious charity it has been excepted from registration under SI 1996 No 180 and SI 2002 No The object of the charity, stated in clause 3 of the adopted governing document, is the furtherance of the general religious and charitable purposes of the Religious Society of Friends in the area of Leicester and beyond. 2. Structure, Governance and Management Leicester Area Meeting has four Local Quaker Meetings in Leicester, Loughborough, Oakham and Rugby. Loughborough does not own a Meeting House and currently rents a room in a civic building in the town. The other Local Meetings manage their Meeting Houses themselves. The Area Meeting is not yet separately registered with the Charity Commission but is ready to do so when required. Area Meeting adopted the following Governance Documents and appointed the first trustees on 19 th October 2008: Governing Document this is based upon the model prepared by the Quaker Stewardship Committee but has been revised this year to make it even closer to the model. Terms of Reference for Trustees this is also based upon the standard model but has additional Appendices to clarify the appointment procedure. Memorandum of Understanding each of the four Local Quaker Meetings has a Memorandum of Understanding that describes the specific relationship between Area Meeting, the trustees and the Local Meeting and defines who does what? in each case. Roles and responsibilities of officers this document is to try to ensure that newly appointed officers do not overlap or underlap with each other and make timely reports as necessary. The trustees met six times during 2012 and minutes have been kept. Discussions have included investments during a period of very low rates of interest, Local Meeting administration of financial affairs, confirmation of property maintenance requirements, investment and reserves policy and giving advice to Area Meeting about the use of funds for Quaker Work, record keeping, web site administration, employment issues and safeguarding. Page 3 of 12

4 During 2012 we have considered our policy toward ethical investments and reserves, however, in 2013 Loughborough Local Meeting has found some exceptionally suitable premises for use as a Meeting House and investment policies are 'on hold'. We hope to report completion of the purchase of the property and finalisation of a policy towards the remaining 'reserves' in our report next year. Investment in a Meeting House may be the most ethical investment that we can make! We have a new and active safeguarding co-ordinator all necessary CRB and equivalent checks have taken place. There have been no known safeguarding incidents or interventions. Our Treasurer became ill and the accounts for 2012 were completed by an Acting Treasurer - many thanks to Roy Kershaw. Only one of our Local Meetings has employees and is currently formalising the documented procedures for the management of employment issues. The final arrangements are likely to be endorsed by trustees and then by Area Meeting as the basis of the Area Meeting employment policy. We are continuing to review our policy towards keeping records. Reports have been received from each Local Meeting, based on the agreements in the Memoranda of Understanding, showing that their affairs, their health, safety and fire risk analyses and the stewardship of the assets under their management are all in order. These are used by Trustees as the basis of this re[port. We have an 'Area Meeting Manual' into which significant documents are copied. This is available to all members on looking under the Tab 'Meetings' and then 'Area Matters. 3. Spiritual life of the Area Meeting The charitable object of Leicester Area Quaker Meeting is the furtherance of the general religious and charitable purposes of the Religious Society of Friends (Quakers) in Britain in the area of Leicester Area Meeting and beyond. The principal activity of all our four local meetings throughout the year has continued to be the right holding of public meetings for worship as described in Quaker Faith & Practice. There have also been regular meetings for church affairs (business meetings) in the four local meetings and for the Area Meeting as a whole. Area Meeting has sent representatives to attend many conferences and seminars and has received back and considered the reports of these. The minutes of Area Meeting show that the Area Meeting has taken an active part in national and international committees and events and in the central Meeting for Sufferings of representatives from the whole of Britain Yearly meeting. The rich experiences from all these events are reported to members through our bimonthly Newsletter Our Quaker Voices and our website. Area Meeting meets every two months to consider the overall spiritual life of the Area Meeting, the arrangements for pastoral care and eldership and oversight, Page 4 of 12

5 to receive reports from representatives, to consider membership matters, to nominate representatives and to determine the policies that are the terms of reference for the various committees and trustees. There is a concern that the number of members taking part in these meetings, and being willing to accept additional responsibilities, is declining. Local Meetings each make two reports to Area Meeting each year one directed mainly to the Trustees about stewardship matters and one directed to Area Meeting itself about the spiritual life of the Local Meeting. The second reports confirm that Meetings for Worship have taken place and detail the discussion groups and learning opportunities that have taken place, the children s activities, the Quaker Work such as prison visiting and work with asylum seekers, the social events that have been shared as a community; and the joys and sorrows of births deaths and marriages. 4. Membership of the Area Meeting During 2012 there was no net change from 214 in the number of members, the number of attenders was up from 164 to 199, and the number of children was up from 46 to Financial Review a. Financial Management It is our policy that: Area Meeting will maintain capital provision for Care & Children s Funds etc, bursaries, AM running costs and a general reserve for unexpected events Area Meeting will maintain a fund towards the provision of possible new Meeting Houses within in its geographical area Area Meeting will allocate any payments from a General Reserve or disaster fund to help whichever Local Meeting needs it Local Meetings will set aside funds by annual contributions for their own cyclical repairs, and re-furbishing of their own Meeting House Local Meetings will maintain funds for the daily management of their Meeting, for their running costs, for wear and tear and for repairs, for renewals and for upgrading of facilities as they arise Area Meeting and Local Meetings will each make budgets each year and arrange for topping up, or other such adjustment, of funds and funds that have been set aside for specific purposes. b. Expenditure Policy Our main expenditure arises from running our meetings and Meeting Houses, paying expenses of our office holders, members and attenders - including for training. We also provide bursaries for those attending conferences and other events associated with Quaker interests. In addition, we occasionally provide financial support for charitable work by our members which does not have a direct Quaker connection. In such cases the concern shall be tested by discussions at Local Meetings and/or Area Meeting. There must be a demonstrable involvement by a member or group of members in the work, assurances that the funds cannot be diverted for other purposes and clear support Page 5 of 12

6 over a period of time. It is our policy that approval of any major expense by Area Meeting takes place only after discussions involving at least two Area Business Meetings or, in the case of an emergency, after appropriate consultations. c. Reserves Policy It is our policy to accept stewardship of property and assets from previous generations of Quakers and to hand these on to the next generation in a suitable condition to permit the continuity of our Quaker worship and other activities in our Area Meeting. It is our policy that Local Meetings maintain reserves sufficient to cover all maintenance and events that can reasonably be expected. It is our policy that Area Meeting keeps reserves against any disaster or event that cannot be fully insured against and for the possibility (in 2013 this has become 'a probability') of a new Meeting House being needed in our area. d. Investment Policy It is our policy to seek the best return on immediate access accounts and on deposit accounts or funds with immediate access or between six months and three year terms. In particular it is our Ethical Investment Policy is to use positively ethical investments in which the funds are used to promote specifically useful activities as against negative ethical investments which simply avoid selected sectors of the stock exchange. This policy is adopted but not yet implemented. For short term investments it is our policy to use a trusted fund manager such as Charities Aid Foundation (CAF) or equivalent. Currently our Area Meeting reserves are allocated as shown in the attached document 'Assets of Area Meeting' associated with the Financial Statement. It is our medium term aim to combine parts of Area Meeting and Local Meeting reserves into a common reserve for any major work on any of the meeting houses; but there are a number of obstacles to overcome. Financial Statements The consolidated accounts for Leicester Area Meeting for the year ended 31 December 2012 are attached. These include the income and expenditure of all the constituent local meetings, namely Leicester, Loughborough, Oakham and Rugby. The Area Meeting also holds its own funds. Loughborough and Oakham had healthy surpluses for Leicester and Rugby had substantial deficits caused largely by increased repairs and maintenance costs. Area Meeting had a small deficit. Total liquid assets of Area Meeting increased from 277,717 to 284,290. For all Local Meetings and Area Meeting liquid assets fell from 513,958 to 489,518 though this still represents a very high level of cash reserves. Most of the reserves are held in the Building Project Fund and the General Fund as shown in the attached liquid assets summary. Page 6 of 12

7 Leicester Area Meeting and its constituent Local Meetings are in a strong financial position. The overall accounts have been examined and the certificate from the examiners is also attached. General Information Trustees: The trustees at the start of 2013 are:- David Walker (AM Treasurer ex-officio) Nick Matthews (AM Assistant Treasurer ex-officio) Kendall Clark (AM Assistant Clerk ex-officio) Janet Thompson (Safeguarding Co-ordinator ex-officio) David Neill (AM representative with property experience retires end 2015) Derek Radburn (AM representative retires end 2015) Ann Brennan (AM representative retires end 2013) Lis Sutherland (Leicester representative retires end 2015) Roy Kershaw (Loughborough representative retires end 2013) Daphne Bates (Oakham representative retires end 2015) Peter Elliott (Rugby representative, Clerk retires end 2014) Address: Friends Meeting House, Queens Road, Leicester LE2 1WP Officers of the Area Meeting: Madeleine Prager (Clerk) David Walker (Treasurer) Kendall Clark (Assistant AM Clerk) Nick Matthews (Assistant Treasurer) Janet Thompson (Safeguarding Co-ordinator) Bankers: Nat West Ltd Lloyds Ltd TSB Ltd (including LMs) Co-op Bank Ltd CAF Bank Ltd Yorkshire Bank Ltd Triodos Bank Custodian Trustee: Insurers: Friends Trust Ltd, Friends House, 173 Euston Road, London, NW1 2BJ Congregational & General Insurance PLC Examiners of Accounts: Kendall Clark and Adrian Allen Signed: Peter H. Elliott (Signed) Peter Elliott (Clerk of Trustees) Date: 21st September 2013 Page 7 of 12

8 Leicester Area Quaker Meeting Leicester Area Meeting Accounts For Approved 12 th September Financial Statement Area Meeting Accounts on their own Religious Society of Friends (Quakers) in Britain Leicester Area Meeting Financial Statement for year ending 31 December 2012 RECEIPTS Contributions 1, , Sales Interest on investments 2, , Dividends Other Receipts TOTAL RECEIPTS 4, , EXPENDITURE Conferences/Courses , Overseers and Outreach Children and Young People Library and Literature Total Direct Costs 1, , Donations to Individuals , Donations to Quaker Bodies 5, Donations to Non Quaker Bodies 3, , Total Donations 3, , Other Costs Trustees Expenses Bank and Professional Charges Total Other Costs TOTAL EXPENDITURE 4, , Receipts less payments , Investment gains/losses 7, , Changes in resources 6, , Balances 31/12/11 277, , Balances 31/12/12 284, , HELD AS: Investments 58, , Short Term Deposits 189, , Cash at Bank 5, , Debtors (BYM) 30, , Total Assets 284, , Pepared by: Roy Kershaw Page 8 of 12 Acting Area Meeting Treasurer Examined by: Kendall Clark Examiner of Accounts Examined by: Adrian Allen Examiner of Accounts

9 Leicester Area Meeting Accounts For Approved 12 th September Area Meeting Accounts AM & LMs Consolidated Religious Society of Friends (Quakers) in Britain Leicester Area Meeting Consolidated Accounts for year ending 31 December 2012 RECEIPTS Area Meeting Loughborough Oakham Rugby Leicester Total 2012 Total 2011 Contributions 1, , , , , , Collections , , , Grants/Legacies 16, , Hirings , , , , Sales Interest 2, , , Dividends Other Receipts , TOTAL RECEIPTS 4, , , , , , , EXPENDITURE Conferences/Courses , , , Overseers and Outreach , Children and Young People Library and Literature Other Total Direct Costs 1, , , , , Donations to Individuals , Donations to Quaker Bodies , , , Donations to Non Quaker Bodies 3, , , , Total Donations 3, , , , , Other Costs Wardens 17, , , Repairs and maintenance , , , , Utilities , , , , Furniture and equipment , , Other 1, , , , , Clerks expenses Trustees Expenses Bank and Professional Charges , Total Other Costs , , , , , , TOTAL EXPENDITURE 4, , , , , , , Adjustments Receipts less payments , , , , , , Investment gains/losses 7, , , Changes in resources 6, , , , , , , Balances 31/12/11 277, , , , , , , Balances 31/12/12 284, , , , , , , HELD AS: Investments 58, , , , Short Term Deposits 189, , , , , , , Cash at Bank 5, , , , , , , Debtors (BYM) 30, , , , , Less Creditors , , , Total Assets 284, , , , , , , Pepared by:... Roy Kershaw Acting Area Meeting Treasurer Date: Examined by:. Kendall Clark Examiner of Accounts Date: Examined by:. Adrian Allen Examiner of Accounts Date:

10 Leicester Area Meeting Accounts For Approved 12 th September Assets for Area Meeting Accounts on their own Leicester AM Bank and Investment Balances at 31st December 2012 Account Balance NatWest Current Account 5, CAF Gold Account 87, Scottish Widows 102, F&C Investment 42, M&G Investment 16, Total 254, Type of Account and terms NatWest is a Current Account without interest. Funds can be withdrawn at any time. CAF Gold pays interest on balances (currently 0.1%). Funds can be withdrawn at any time. The value at 01/07/13 was 87, Scottish Widows pays interest on balances (currently 0.75%). Withdrawals require 90 days notice. The value at 01/07/13 was 103, F&C Investments is a Share Account without interest (capital gain of 5, in 2012). Funds can be withdrawn at any time. Value at 16/08/13 was 49, M&G Investments is a Share Account without interest (capital gain of 1, in 2012). Withdrawals can be made at any time. Balances on Area Meeting Funds Fund (%age share) 31/12/2011 Expenditure Additions 31/12/2012 Children's Bursary Fund 1% 1, , Care Fund 12% 31, , , Building Project Fund 60% 146, , , Building Repairs 10% 24, , , General Fund 17% 73, , , , Total 277, , , , Notes 1. In 2013 the Loan to BYM of 30,000 was converted to a Gift, reducing Total Funds to 254, ,000 left to Leicester AM from the estate of a deceased Friend will increase Funds to 261, Further 7,000 increase in value of F&C investment to 16/08/13 will increase Funds to 268, Some of the above Funds are restricted. This needs to be clarified. Page 10 of 12

11 Leicester Area Meeting Accounts For Approved 12 th September Reconciliation for Area Meeting accounts on their own Reconciliation of NatWest Account 31/12/12 Balance on Statement Add Transfer 4, Membership (Leics) Contribution (Lough) Contribution (Leics) Sub Total 6, Less Cheque Cheque Cheque Sub Total Balance on AM Account 5, Income for Year 10, Expenditure for Year 4, /12/12 5, Reconciliation of CAF Bank Account Opening Balance at 01/01/12 90, Add Interest Add Contribution Total 91, Less Transfer 4, Less Bank Charge /12/12 87, Reconciliation of Scottish Widows Account Opening Balance at 01/01/12 100, Add Interest Add Interest Add Interest Add Interest Closing 31/12/12 102, Reconciliation of M&G Investments Opening Balance at 01/01/12 15, Distribution 1, Closing 31/12/12 16, Reconciliation of F&C Investments Opening Balance at 01/01/12 36, Increase in Value 5, Closing 31/12/12 42, Page 11 of 12

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