Since May 2017 Quaker Trading (Manchester & Warrington) Limited and Manchester and Warrington Area Quaker Meeting have been working with one another under a Hospitality and Facility Agreement and, since May 2023, a Cost Sharing Agreement. Quaker Trading is responsible for undertaking all the trading activity (primarily room hire and the provision of catering and audio-visual equipment) and for managing the buildings and grounds on behalf of the charity.
The intercompany loan is repayable upon 24 months' notice and the annual rate of interest payable on the loan is 2% above the base rate then prevailing of the Bank of England. During the year, Quaker Trading (Manchester & Warrington) Limited reduced the loan from the parent charity, Manchester and Warrington Area Quaker Meeting, by £17,500, and the total interest paid was £20,083 (2023: £12,265).
In addition, during the year, the company paid £55,000 (2023: £55,000) rent to the parent charity, and received cost contributions from the parent charity of £17,500 (2023: £20,000).