Quaker Trading (Manchester & Warrington) Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Quaker Trading (Manchester & Warrington) Limited is a private company, limited by guarantee, incorporated in England & Wales, registered number 03094920 . The registered office is 6 Mount Street, Manchester, M2 5NS.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Tangible Fixed Assets and Depreciation

Individual assets costing £1,000 or more are capitalised at cost and depreciated over their estimated useful economic lives on a straight-line basis. Depreciation is designed to write off the cost, less any estimated residual value, of each asset evenly over its expected useful life as follows:

Fixtures & Fittings

4 years (25% straight line)

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable surplus. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable surplus will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable surplus will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Quaker Trading (Manchester & Warrington) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.5. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in surplus or deficit, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Where payment of the company's taxable profits to the parent charity falls after the reporting date, the income tax effects of that gift aid payment are still recognised at the reporting date. The income tax effects are measured consistently with the tax treatment planned to be used in the company’s income tax filings, and a deferred tax liability is not recognised in relation to such a gift aid payment.

2.6. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the Income and Expenditure Account as they become payable in accordance with the rules of the scheme.

2.7. Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad or doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad or doubtful debts.

2.8. Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

3. Average Number of Employees

Average number of employees during the year was: 17 (2024: 17)

4. Tangible Assets

	Fixtures & Fittings
	£
Cost
As at 1 April 2024	55,683
Additions	7,699

As at 31 March 2025	63,382

Depreciation
As at 1 April 2024	55,683
Provided during the period	1,925

As at 31 March 2025	57,608

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Quaker Trading (Manchester & Warrington) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Net Book Value
As at 31 March 2025	5,774

As at 1 April 2024	-

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	137,737	112,934
Prepayments	29,438	8,316
Accrued income	1,335	8,560

	168,510	129,810

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	38,942	16,079
VAT	11,638	12,923
Other creditors	5,003	1,782
Accruals and deferred income	39,383	84,668

	94,966	115,452

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Intercompany loan	235,500	302,500

8. Related Party Transactions

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 day-to-day management of 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 £67,000 (2024: £17,500), and the total interest paid was £15,826 (2024: £20,083).

In addition, during the year, the company paid £55,000 (2024: £55,000) rent to the parent charity, and received cost contributions from the parent charity of £17,500 (2024: £17,500).

The company also paid £127,458 (2024: £nil) to the parent charity, representing the 2024 trading profits, after allowing for previous losses. This donation is recorded as an expense for the year ended 31 March 2025 under administrative expenditure.

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Quaker Trading (Manchester & Warrington) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

9. Company limited by guarantee

The company is limited by guarantee and has no share capital.

The member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.

10. FRC's Ethical Standard - Provision Available for Small Entities

In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

11. Ultimate Controlling Party

The company's ultimate controlling party is Manchester and Warrington Area Quaker Meeting (Religious Society of Friends) .

12. Audit Information

The auditor's report on the accounts of Quaker Trading (Manchester & Warrington) Limited for the year ended 31 March 2025 was unqualified.

The auditor's report was signed by William Guy Blake ACA (Senior Statutory Auditor) for and on behalf of Godfrey Wilson , Statutory Auditor.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		5,774		-

			5,774		-
CURRENT ASSETS
Debtors	5	168,510		129,810
Cash at bank and in hand		225,329		403,594

		393,839		533,404
Creditors: Amounts Falling Due Within One Year	6	(94,966 )		(115,452 )

NET CURRENT ASSETS (LIABILITIES)			298,873		417,952

TOTAL ASSETS LESS CURRENT LIABILITIES			304,647		417,952

Creditors: Amounts Falling Due After More Than One Year	7		(235,500 )		(302,500 )

NET ASSETS			69,147		115,452

Income and Expenditure Account			69,147		115,452

MEMBERS' FUNDS			69,147		115,452