R•gl$t•rnd nurnb•r: 02600590 Ch•rfty nlts•r: 1012218 GUILDHE LIMITED (A COMPANY UMITED BY GUARANTEE) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 *AA114LXT 0211212021 COMPANIES HOUSE
179
? Bishop Fleming
GUILDHE UMITED IA COMPANY UMITED BY GUARAKfEEI CONTENTS Page Ref•r•nc• •nd adMIrtslIv• d•tall oflh• c¢xnpany Its Tnty1 ad¥l••v• Tvugts•' report Tntst••s' rnsponslblllllm $tst•m•nt Indep•nd•nt a41t0. on th• finanGthI slat•m•nt• 10-13 Statement olflmndal •¢ll¥lde 14 8alanc• 8h••t 1S Ilot•s to the IIn•nCi •l•l•ments 16-29
GUILDHEthIMITED IA COMPANY LIMITEO BY GUARANfEEI REFERENCE AND ADMINISTRATIVE DETAILS OF THE COIAPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JULY 2021 Tr1••9 Or Dwd Llv•elyn. Vtrchwlor. Hpw Adams Urriver- rntired July 2021 (resigned 28 May 2021) Professor Karen Bryar. VK&Ccel0r, York SL Jokn Unlverslty (appohted 6 May 20211 Professor Nlgel Seat(, Principal Wc&CharrteNor. Abertay University Paul Kytham. Chief Executive, The Institute of Contemporary Muslc Perforniance Ashley Wheatw, Prindpal. Unrversty College of Estate Management Pmlessor Si)ne W¢Jnna¢ott. 1 Ch¥ncellor, Leed5 Art5 Universlty Reverend c0 profes Peter N1. Vice Chancellor. 8ishtsp GroM¢t$t• Universty Abigail Ap. Pmcpal. Hereford Cclege of Arts Anlhony Mcclarnn. Mce Chancelor. Si Marfs Uravernity London lappolnled 16 Juty 2020) Prole550r TrclTrtilas Bratsty. Vtt Ch•nceNGY. ¢ngham$hlre New Universty lapwnted 6 May 2021) Company rnternd ftumbgr 02600590 Charlty v•gl¥tsr¢d numb•r 1012218 R•glsl¢rnd offle• w0jM HryJse 20 Ta¥lslth* Sware Lond WC1H 9HB Chi•l•x•¢ullv• offlur KICKene Ind•p•nd•nt audltors Bishop Fleming LLP Chart•r•d A¢¢wnl•nts Sak Quay House 4 North East Quay Sutton HaTbour PL4 ceN ank Bank Of Scotlar 33 Old Broad Street Lond( PO Box 1000 BX2 1LB Soli¢liors Eversheds 1 W&)d Street London EC2V 7WS Page 1
GUILDHE LIMITED (A COMPA14Y UMITED BY GUARANTEE) TRUSTEES REPORT FOR THE YEAR ENDEO 31 JULY 2021 The Trustee¥ present I1r annual report loJether ¥th the fanCIal 5tstements and asjdittirs, report of tho Charity for the year ended 31st Juty 2021 lch are also prwed to meet the requirentS for a directors, roport and gcGounts for compleS Act purposes. The financial statements compty wrlh the Charrties Act 2011, the Comp8nies A¢1 2006. th¢ Memor8n¢Jum and Articles of Asso¢ialion, and Accounting and Reportin9 by CharrtJ"es.' Ststement of Recommended PraGti¢e applicable to chanlies preparing their COUnts in accordance wrth the Ftnancial Reporthg Standard •ppli¢able in th¢ UK #nd Repubft"c of Ireknd IFRS 1021 (effective Oct)er 20191. &nce tht company qualthes as wnal under sectkjn 383. the ¥trate9ic r¢pryt required of medlum and large companies under The ComleS Act 20C6 (St• Rewt and Dwedorfs Report) Regulat5 2013 i¥ not reqUid. CHAIRMAN'S REPORT Once ¥g3in, this year has been a challengiThJ one kn Ihe hvJher education sector. The pandemk has continued to cause disrupti¢)n and rts ellect has Terber0ted on staff. students and HE pwders. At GuildHE. Ihe team have r8main•d commilted to supprytm9 our members thrtwghout thi5 perh?d. Wrth regular weekly online briefings for h•ads of inststutiorhs. we have provhl&l a sounding t)ard for concErns to be raised. and by bringing in speake. including the UnwsitS Minister. senY DE athj office offK1$. and CEOS frorn partner organisab¢Ms. we have ensured thal members were prowded wrth Wo-date informalion as the $ltuatlon changed r¥•Jty. Addib"onalty. we have been hosting monthty business c¢Jntinurty leads netwo meetin9S to discuss key issue$ rplating lo Instituticl responses lo the pandeffl and we have continued lo present our members, positions lo the 90vernwl Through this woth GuiklHE has helped to ensure th4t all wadical students were allowed to retum to czmpus. and we 450 p&Se for pCemen15 for teacher training $tvdents. Yt4lowing th¢ summerfs A4evel resvhs ls. The GuildHE team have d¢)ne an amazing job over the past year, ensuring that our views were heard wthin go¥eTnmen( regulatU5 8ThJ sector bDdies, and that the impad of th• Pdern[C on $maler and Spegalt instituti.ons vras understd. Thai work vill continue
ome twne lo come. as we tkFe the K1 thallpnw n9 the se. 181 Klenlifying ways in which we
n assist th• nalional recovwy effo In the spring we held an successful annual GuihJHE wiltrrn. my first as Chair. tt wovbded an excellent opportunrty for our members to meet and to dts¢us$ many of the ChaInge$. and lo hear from Speakers, in¢luding the newty 4Jpointed Chair of the Ofs Lord James )art0Th.. the UnN•rsitis Minlster. Michelle Donelan., and the CEO of Universibes Australia, C)na Jathson. We also had the opportuniiy to thank David Ueweltyn for his outstanding cu)tn"bukn to GuiklHE as its Chair overthe last three years. However, ther¢ also remains much to be done to ensurn that stud¢nts wtinu¢ io get the mosl out of their higher education. in a seclor that faces fvrlher changes the •nwronmttnl. In the last yèar we have V40rked wilh ¢Xher sector boditis to wrtn.bute con$tnKlivety lo Ihe narrativ? around"grade inflation". Through our ongoin9 wo with UUK ond QA4 we are devewing winciples for degree algorithms. monrtoring the impact of the Slatement of Intent. We laur a prc4ed ¢yJ extemal examining and have responded to the Ofs's Quality and siandards consuftats"ons. Adtlilicffiauy, in Ihe new academic year we are comftNs$icning the QA4 to develop o new TNE metd and supwts"n9 the wtyk M acaderrme inte9fity and the sectorknwide chArter. In all of this woth. Ihe interEsts rl GuiklHE rnerthrs WMI be at the forefront. as we ensure that students ¢ontinue to have a wNle (¢ice and genuw ijvusity of provision Ihat rn•ts their nd8 and aspirations. In the meantime, this report sets (wjt in mofft detail some of the major issues that GuiblHE hes addres$¢d over Ihe last year, 8nd the continutng p)siti"ve inpact that we hm made. I hope that you find the pOrt helpful, and that rf you want fvrther Infcffl)atn about our or are bnteTe$led n knowing mre *Jout rneTrknrship, you not hesilate to c(laC1 us. Paye 2
GUILDHE LIMITEO.- IA COMPANY LIMITED BY GUARANTEE) TRUSTEES REPORT ICONMNUEDI FOR THE YEAR ENDED 31 JLILY 2021 OBJECTS AND ACTivmES The Chantys cc¥e objects. as set CMJI its MemLYanthJm of Associallon. ore.. To prorThSe and knprove higher educatth in the United KingdcAn and elSere in direct furtherance of the 0tr4.ects and mi8sion$ of Company mernbers ty the promotion of discussion and consultalion, the fom?ulation of policies the prov7w of repIeS•ntan. infDrmion. athce and asslslance. The Chaiity's abms are as fdluw5: Mèmber8.' To provide an excellent servr2 for our menkn. The hryhef education sector. To work Tmth ¢)ur membtys to support an effedive infrastru¢ture for UK higher education. Studenls.. To ex¢ellenl Strt en9agwnenL ewience ¢xrtcmies as the heart of a quality UK HE sKtor. Gov•mm8nt.' To infomi and influenc¢ UK higher education policy and prati¢e. As an organisation." To be an intellvJen( fiexrble and resportsNe oryanisation. The strategies employed to achieve the Charitys aims and (ectNes are to.. Highlight the impOrtCe of a diSe. intematK>nany successfijl hier education sect¢Y. Make the case lor a property fvnded hi31 educab.on system thal alkThs a diverse Tange of institutions to thrive. Influence thinking on higher ed[at legislatic and the fuiure wulatmyi of higheredLKalion. Influence the deveh¥ment of the TEF and dwyons about the future of Qualty Assuranee. Make the case for the positive ecorKffiic, oJlluTal ar sccial contributKJn that inlematiLaI stud•nts make to the UK. Chamwon the rofe d hWJlT education as ckAe partnws ith industiies delNering hwjh quahty. work r¢levant. hlgh level sklls and professal education. 'The 8ignifi¢8nt athitses undertaken Ihe witid were.. 302 Mèttilgs Tmih Gmmmeni 552 MeÈtin9s wilh Se¢lorAgerK 4 Merter visits 32 Speaking engagements 55 Polry 8riefings and Government Consatron respo15 28 Weekty VC meetin95 213 Direcl 1-1 member cans 1 I Wgektry GuildHE FrKlay emals GuildHE'$ regular n8wBletter pYo¥tdes irfornatsn oTrJ c(xM)ent on sector news. pclicy aTrJ events, as well as publicising thè work of Guil(HE. n conlrnues io be pubshed on a fortnightly basis. We CtinUe lo receive positive leedbath frtyn subsuibers. The newsletter is curreth received by over six hundTed active svbscribeTS and current open rales stand around 3. well above rndusty averagt open rates of -18%. GuiklHE's rtIer pSerte ¢ontinues io grow in fluence. ¢hrough regular posts. partiupating in sector discussions. ¥nd usin9 engaging contewrt. grnphics and quotes. Fdlower numbers increased lo 8441. The GuE CEO and senM)r *8ff have tINs year Wryded keynote speeches and panel contributions al veral n4tional events indling. QAA CMferenc8s On degree statements. da9w èlgryithms wade Innation AdvanceHE Trainin9 f¢r new Go¥emors It"¢e) Westrninster FLY Events on qualty. TEF Sovth London Knowledge Exchange Parlnersh¥> The Cullurol Cap#al Exchange Page 3
GUILDHE LIMITED IA COMPANY LIMITEO BY GUARAIITEE> TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021 Public etnefrt Statement The Trustees have reviewed the activities ol the Charity the light ol the guidance putlished by the Charity ComrThssron on public benefrt. The Truslees are satisfied that GuildHE's actN[tS are for the public benefit. GuildHE provJes publK benefit to Ihose annIng to vndertake, those undertaking and those wth an interest in the outcomes ol UK higher education as o eonsequencè of the assistance il gNes its members and their nststutKJns. Through the direct amce, infcmatioTh and comm¥nt if provtdes into the public dcKnain and into policy lrarnewks. it forMS Ihe public debatè and raises public avMrenE55 of a range ol educats.onal and other professionally-based kSSLre5 at sut4.ect level. 8y supportMIg the heads ol institutions. it enables them to lead thar charrtabfe and educational ganisationS more effedively. As ¥ Csequere GuildHE h88 an impact on delivery of higher education through good pr8ctKe exchange and advice on policy. The organisations Ihat GuifdHE rnembers lead provide a range of higher education opportunA¢es lo studenls frorn the UK an¢J #broad: and they have 8 puwic kenefrt inpad on the cuftural. social and intellectual development oftheir crrtwnunitw. ACHIEVEMENTS AND PERFORMANCE succ(1 Swing ¢Lmf•rerKo with ntrw Ofs Ch•"r. Lord James Wh•ton', Unwersitks lthin15ter, Mtchelle tlonelan.. CEO ol unlsItS Australia: Dirvdu of Britt5h Chambors of Commerce and many other speakers SupportirwJ rneth respond to the pantjwnic with re9ul8r weekty VC cafis.. bringlig together speakers induding Unrverwties Minister. senr OIE and Home OffKe officiS and the CEOS frun Ofs. QAA, AdVanHE, OIA. Jix. UCEA. UUK International P4knthty business continuty leads nefwork nEelirwJ3 lo discuss key issues relaling to hthv instslutKJns were responding to the pandemK and impfementirJ government guidance Raising member issues wilh Minister5 and govemrtwt Mdudin9 highli9hfin9 the chatlenges around practical subjects and he¢iThJ ensvre that all pract1 students were atlowed to turn to ¢ompus and pre5TAng the minister on placements teacher trainiro stud•nt$ followin9 Ihe Summe$ A-level re5uKs cJisis Ran a signffi¢ant proie¢t SWF4Nb'ng nwthrs be¢ome anti-racisl Instit5 Providing briefing resources. lurKh-time speaker sessic#Tr5 and act knming sets Swporting m¥mbeis pond to the dimate enwgefi throLwJh secretsw6at of th$ Climate Commission Mthich prOdd the HE Tcd(h. ran Yrfofft0n events and produ¢8d other resources for Instrtutions Helped tsEkSE the govenwTrt n8rralive around 'gr8de inflati. through Ouf ongoing work wilh UUK and QAA to develop principles for degr algonthffls. moniior the Knpa¢t ol the Slatment of Intent, launch a project on extemal examining, wUCed a rewt wth thè SMF and responded to the OfS'$ Qualty and StarKlards consultations as well as commissioning the QAA to devekp a new TNE method and supporting the work on academic integrity and the sector-wde charter. Led the secthrfs response to the ITh Maket Revi through our chairing and $e¢ret3riat support of TEAG - this include(I several meetings Vith the Review T•an and DIE Ofvials. responding lo the consultat40n and APPG cth emdence tr raising the issues throuth blogs and with P8rfiamentarians Helped influence the outcorw of the NSS review through ow meetings wtth 0, media activrty and consultatKJn responses - many of Wf fe¢tynmendalm8 ¢•n be seen in the outccthÈs of the fiF5t phase of the wsullafion Supported the develcpment of KnovAÈdge Exchange Crnctsrdat and KEF Wn in capita fvnding - £30k upfront wrthoul bidding 15 great for smaler HEIS Secur9 8 govemment commitrnent to explrKe credrt based funding GuildHE Research was ¥proved as 8 Signalrmy of Concordat to Support Research Inle9rity. alongside The 8rttish Academy and Research UK. Our induwon means the full dNersity of instrtutK)rv& wtl be represenled amongst the svJnatories and we can play 4 role in shaping the group's approach to strengthening res•arth ntegrity in the sector. Gained a place on the UKRI Forum for Tacling Bultying and Harassment. a UK wi(Je initiativg With international membèrs to hwhkghl these dHlenges in the researth system. Submitted tw) .$ to the OIS I RE Access io PGR for BAME Studerts cc*npetitTh. This crknboration Page 4
GUILDHE LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021 ith wght member inst1uts and four external partners 8150 brought about GuiSoTrlE Resear¢h ctyn1Th55roned r1¢h into the eyperien of postgraduate students at smal{ and speciliBt instslutions to address the evKlence gaps Idents.d dwing the bid Fyocess. FINANCIAL REVIEW Most of the Charity's income is thained frt¥n M>81S1P sthcr1ptj. the use of wtbith is unrestiicted to particular purposes. Dunng the year ended 3110712021 the Charity re¢eNed total income of £943,329 and N)curfed tdal expendlture of £869.820. The excess of InCc over expendrture lor the year was £73,509. The Cowd-19 pandemic continued to chango tho way that the Chaiity operated, with meetings continuiThJ online rather than in person. There wwe no atfverse ffinaal impads fK¥n the Covid-19 restri¢ts"on$. There were some savings on ¢lfice based expenditure and travel. Meners conkn.nued with a high level of engagement on onh.ne a¢tivrtW. Niduding the Mrtuel Swing conlerence. At the y•ar end Ihe Charity had totsl reserves of £1.260.7Cfj v*ts"th were all unrestrid¢d of whi¢h £432,561 i¥ undesignated free reserve$. Reserves are needed to brid the gap behveen the spending receNing ol in¢ome to cover unplonned repairs and (rther eyrxlrture. These funds are held for the benefit of members and fman¢ial sustainabihty of GuildHE tn meeting current and future obhgat#)ns. in¢ludlrvJ any Pensi deficit
rising from GuiidHE's mentt)ership of USS.
The Trustees have set a reseNes pjlicy wlith aims for. Reserves to be maintned at a kvel vA)ich ensures that the premises and sta9 $ts of the organisalion's activity could continue during 8 of unforeseen drficulty. Reserves to be maintsined in a readity reali8able fomi. Any surplus reserve5 over this level of funds to be designated for the replwient of o$sets and 5UPPQrt of the ¢tretn of eny GuikJHE strategic pr(4ects. Undety'ng undeswnated re5erve5 wll support Ihe Charitie5 C(wrtinued membetship of the USS Pension Scheme. arKI the underlying defiut in that scherne The calwlab.on of the wulred level d reseryes is an integral the orgar4sation's planniry. budgel and forecast cycle. It takes into account.. sks ass1 wilh eath Stream of Iorne and expwwjiture bein9 drflew from that budgeted. Planned gGtivity kvels. The Chanvs cc¥nmitmenl with resped to staffirvJ and lease costs thin the financial year. The pension liablty Sha that will b• altributable to the thaiity through rts memb¢rship of the Universilles Supernnnuatlon Sdwne (USS). The Charity had no r8gerveJ in def1 as at 31K17r2021,. Golng concern The Trustees hm re¥ie4bTd the circwnSlan ofthe ch¥Y and cons*Jer that adequate resources continue to be available to fund the actNits•s olth• Charity forthe lueseeable lure. The TrusleeB are of the view that the Chaiity 15 a gIn9 concem. P•Je 5
Gull nyE LIIIIITED IA CQNPANY LIMITED BY GUARANTEE) TRUSTEES REPORT (coimNUED) FOR THE YEAR ENOED 31 JULY 2021 Plans tor peAods InfhJencAng govemmrfs r•ss• to the review cl post-18 educati in England and subsequent decisions on higher educabon fltnding in the nexi Spending Review with the aim of ensuring fair and sustainable fundilg for qualty lehIng Engaging with the rel7 ol intermedkne tecjmical and PTofe¥sK>nal quaffflcaticms thè development of degree apprenticeshys Engagsng wrth the Ofs. the designated qu and dats btsdie5. 3fKI d¢v•ltspmont of the Teaching Exceltence FfarwEork to challenge Teguw burdens and Costs Showcasin9 the distive ¢ontn"bul1 of GuiltlHE hnsliiutitins to teathing. Se41¢h and wlder society induding. thrtyJ9h our new ccnrnunications and public affairs strategy Engaging wrth the IrKlustrial Strategy. pleS on -place" and relevant research, knowledge exchange and skills funding discussions vhlh the aim of ¢nsuring the Contr1tl10n of smaNeT institthions to local growth i8 recognised and fwrfy funded SuppoJb"ng instilLrtiws on research and Ihe develowwl of REF2021 Suppoiting transthons to higher education and Student wenbeing in rrnr instituti3 Work with our rneITtr to encoura98 seclor wbje respon5e5 to sustsinablity and elThnate •ner9en¢y Supporting members in the ad4UP to 71 day and beyond and influenung 90vemnn1.s future policies on intematithal studants and stsff Supwrting the developrrnt of the Kn(Mledge Ex¢hange Fomewth IKEFI lorking wth partners in key industry sectots inclvding tteative economy wd fojd and agriculture and teather education to derncStrate the vnprylance of speothst institthion5 to the future skills pipeline Developing our capacty to share kn¢Yedge and good practice in relatn to widenin9 PartKipatitin and attsinrrnl and supporting members to colab¢Yate in n¥tional activities. Risk managwn•nt The principal risks faced by the Charfty S.. Finanrial risk- b53 cl member5 Rewtath)nal ri%k- k)55 of Inffluen or media relations- Strategic Tisk Cnge$ in Governmènt directionlpolry mean that GuildHE's strategy becomes iffelevanl Operat1 risk- tsJ$iness corthuty is$w i111rj ¢)fve inxce55ib Intemal conlrc4s- Financi or systèm erfc Thè Twstees have a mana9efflent strnte9y vthKh comprises." Regul review by the ExetrJiTht Gr(p to Jentrfy risks and mitwjating a¢tioM. Intemal risks are minim15 by th? implementsthx of prc¢edures for autlN¥isation of all transactions and projects and to ensure consistent quafity of delivery fry operaln aspects of the chariiy. K8y areas of risk and new opportunities are irrte9rated into the regular business of the ExeGutNe Group. Future forecasts h¥ve been reMew¢d and ¥natysis undertaken of attemaiive ftjnding scenark)s and responses for mitigation of any negats've effeds. A ddailed update of health & salety and associated risk asse8sment tO9ether with reIe(l i&wes takes place annualty. undertaken under Ihe superyision of Stallard Kane vtho act as'ccrfnpetent person. for GuitdHE Inveslmont policy and p•rforni•nc• In dertO mininM8e investment ii5k. fdS are reti8ingJ in an Interest paying deposrt aeeount and a proportion placed wrth Handelsbart(en to xhieve an wnwoved retum on liquAI a$$els. Thse investment 8ffangements are kept undei dose review ty Ihe E¥e¢xrtNe Group. Total income frc*n all thivestrnents for the yèarlperiod ended 3110712021 was £412.
GUILDHE LIMITED IA COMPANY uMifED BY GUARAltrEEI TRUSTEES REPORT ICONnNUED) FOR THE YEAR ENDED 31 JULY 2021 STRUCTURE. GOVERNANCE AND IAANAGEMEltr Governlng document GuiklHE L1Thted is a cunpany Imted ty 9uaranlee and dces rrf>t ha any $hare cawl. It 1$ govemed by its Mefnorandum and Articles of Association. It is registered as a charity wilh the Charity Ccffi)mission. Details of the Trustees who ser¥ed ttrmuglU1 the yew we inclufled in the Referente arjd AdmSnbStration Detsils on page 1. Memb•rn' Ilablllty Ea¢h member d Ihe Chwitable Crybwony undertake5 lo cont0Ute to the assets ofthe Company In the event ol it bein9 wound up while htylshe ts o membw, orwithin one year after helshe ¢eases to be a member. $uch amount as may be reqU•tt. not exceedlng £1. ftx the debts and Jiabitslies contra¢ted beffelhey ¢ease to be a member. Method of recruitment and appolrtmgnt w election of Trlryeees Directors of the Cryany are also charity Tw$tees for the pufjjoses of Charity law and kn¢yM) In the company'$ Arti¢le5 as members of the EXec1ve Group. Under the requirements of the Mmrandum and Articles of Ass¢xi8tion. the Exe(JJtive Group shall ¢onsist ol the Chair. ts¥o Vlce Chairs. three meinbers elected to the Exe¢u¢ive Grryw and members c04JPted to the Exe¢u14ve gfQUP by the existing Executive Group. AU members ar¥ ur¢ulaled wlh Tnvrtations Prior to the AGM and as vacancies ttcur. advising them of rebring Iruslees and reque5tin9 rnmtnats"on5. Eknted Trustees serve for an initial period of three years. Elected Trustees may serve for tV40 CWbse¢utive term5 01 three ye8rs but shall not serve for at least one subsequent year before further reappointment to the Executive Group. en considering trustees for co- oplion, the Executy"ve Group has regard to th¢ dtversty of member in5tilutions. If a member of the E¥e¢utlve Group is el&ded as the Chair or a VKe Chair, then the above lime Kmils Shall be xtended to allow c¢xnple¢K)n ol Ihe period of office. Trustee Inducllon and tralnlng The training and induction pro¥ided lor new Twstee5 will depend upon thew ex7sting experTOnce but would atways Include a lour of the Cbarily and a chance to meet other Staff. All Truslee5 are prwded wilh EDpies 01 policies, procedures. minutes. accounts. budgets. plans and other dI)c)ent$ thal they will need to undertake their role as Trustees. As there are rKinaNy onty two or three new Tru$lees • year, induckn tends to be done infornially and ts tsiltyed specthcally to the individual. Ofgani5athyAI s1Nd41. A Council. usiSting of all rnembers of the Corrwany, meels fwr ¢¥nes per year and is iftvol¥ed in major deeisths policy ¥pproval. The Charty ants Company i$ adrT¥nEStered for nom business by rts Board ol Twuslee$ l Board of Directors, Comprising ¢he Executive Group, whh rneel$ six tins per y•ar. A Chief EX¢1¥ Offlcer and a Ccmpany Secretary are appownled by Ihe Tnlees. wesentty roles are undetsken by the same person. Organlsatbonal Struclurt A Councrf. consiskn.ng of 311 mwnbers of the C¢)mpany. meets four tlmes per year and is invofved in major decisions and policy approv. The Charity and Coryany bs administwed for 1mial business by its Board of Trusteés l Board of Directors. coMpn9 the EulVe Group. whth meets six twne5 per year. A Chief Exetsthive Officei a1 a cnp Secretary are apEinted by the Twstees., presently both rojes a undertaken by the $e person. Key management personn The Board of Trustee5 have devd¥ed responybhitykn day to * manog&nent ofthe Charity to the GurfdHE office tsam led by the Chief Exe¢uth 0. Pa9e 7
GUILDHE uM.rrE.n IA COAIPANY LIMITED BY GUARANTEEI TRUSTEES REPORT ICONTINUEDI FOR THE YEAR ENDED 31 JULY 2021 Reljled P4rtle¥ and other Conn•¢ted Charltle nd Orgnls•ttons Non• ol th• Trust r¢Ve remun•rnb"on or olher benefii fr(xn their wort th the Charity other than reimbursed travel oxpenses. CVCP Propertie5 Pk is the laTrJId for the premises used by the GuildHE Offices in Ctnual Lthjon. GuddHE svb-lel part of offe spare lo the chartsble organisation Dia UK until November 2024. Sub4ssoaions The work of GuildHE's sub-agsoerAtwy ¢thrtMiued in thè 2021)f21 yw. Thi3 ¥Kluded GuidHE Research (formerfy kncNm as CREST - Consorti(rm for Resewth Ex¢eThen¢e, SupF)rt and Tralningl and UKADIA (UK Arts and Desfv3n Institutions Assoelattcml. DISCLOSURE OF INFORMAMON TO AUDfTORS Ea( of Ihe persons who are Trustee? 81 the twne when this TfUS¢ee5' rep¢xt is approved has confimed that.. $0 far as Ihaf Twstee 15 aware. there is no renI wdit infixmthn of which the tharilable companvs auditots are unaware. and that Trustee has taken an the st4*s that ought io have been tsken as a Trustee in order to be aware of any releyant audit infsymalion and lo establish that the ¢h8rilable company's audiiors are aware of that information. . This report'was app ed by the Trustees. on d signed on their behalf by.. ony Mcclaran Ichw of Trusleesl P•y8
GUILDHE UMITED IA COMPANY LIMITED BY GUARAPITEE) STATEMENT OF TRUSTEES. RESPONSIBIUTIES FOR THE YEAR ENDEO 31 JULY 2021 Tht Trustees Ibtho are also the th"rethrs of the company for the purptrses tsf ¢ompany law) are reSponsie for prewwig the Trustees. report and the financial atements in accordÈnc¢ opplicable law and Unlted Kingdtyn AcCotr.ng stsTrJ¥rds (United ngdn Generaty Accepted Acc4)urtting Ptacltel. Company law requlres the Trusiees to &Yepare finandaf stat•Mnts lor eath finandal year. Under company law. the Trustees must not approve the fina>al Statemts unless they are satisfied that they glve a true and fair view of the ¥tale of affairs of the company w¢J of ilg ncwing TesouTce8 aThl appcallOn of resources, includin9 its kncom? and expendilLYe, lor thal periTrJ. In preparing these finandjl statern, the Twstees are requr¢d to.. elrfi suilable a¢counb'ng p)lide5 and then appty them consistenty. observe the methods and prinrie$ ot the chariti.es SORP IFRS 1021.. make judgements and a¢¢ounling eslimates that are reasonable and prudent stale whether aoicable UK Accountyig Standas (FRS 1021 have been follmd. subjecl to material departures disclosed and typ1ae n the finandal statements: prepare Ihe financia 5tal¢ments on the gthg tty)M $1$ unle$$ tt 1$ Inapwopri4ts tts presu that the ¢¢mparry continue in 1¢5%. The Trustee5 ar¢ re5pgn¥ilAe for kepin9 adequats accounting recd5 Ihal are sufficient to shfyw and explai the companvs transactions and Oisdose lhith rasonabk accuracy at any Ilme the financaal position 01 Iht ¢Nnpany and enable them to ensure that ihe finanual statements mPlY wth the Companles Act 2006. They are also respjnsible for safeguarding the •$SS of the company ar+d hence for taking reasonable steps for the prevention and deteCtm offraud and ther Irre9thts¢s. Approved order of aTrJ swwed on its thalfby. Tru3lee8 on 1911112021 Anthony Mcclaran {Chair olTrusleesl P•3e 9
GUILDHE UMtrED (A COMPANY LIMITED 8Y GUARANTEEI INDEPENDENT AUDITORS. REPORT TO THE IAEIABERS OF GUILDHE UMITEO OPIIIION We have audited the financial stsiements of GwldHE Lwniled (the '¢hariiable ¢¢)Mpan for the year ended 31 July 2021 whtch comprise Ihe Statefflent of f17ancial a7¥5. the Balance $heeL the Ststement of cash flows and Ihe related notes. Indudir¥J a summary of signfficant a¢cthmts"ng ptslitses. The financial repong framework that hos apwied in their preparabon is apph'cable law aThJ Unlted Kingdom Aco)unting Standards, induding Flnznclal Reporting Standard 102 The FIclaI Reporting Standard appliCae in the UK and Republic of Irdand. (United lfjngdom Generaly Aepted AcLtyJnting praCb.l. In our OFKnw the finandal statemts. ve a true and tsir View ol the state of the chaiitaAe ctynpanls affairn as at 31 July 2021 and of fjts Incoming resources and appllcation of resoUes. Ils and expendibJr& for the ye8r Ihen ended., have been pmpety wepaTrd in aoordance ur lfjrwjdcrfn GeneT Awrted ACcOlI.ng Praclke: and have been wepafed in accwthnce with Ihe Tequtrements ofthe C¥Nrpans Act 2006. BASIS FOR OPINION We conckthd our audit In accordance wilh Inlemakffia Stsndards on Audtt(ng IUIQ IISAS IUK)) and applleable law. Our responslbiliti'es underthose sdardS are further desuibed in the Auditors, resp¢Y1bif1tse¥ for the audit of the firtaal Statements section ol our feporL We are Indedent of the chaiitable company in accordance th the ethlcal requirements that are rdevant io our aLJi¢ of the finanL¥al statements In Ihe United Kingdom. Induding Ihe Financial Reporting Councd's Ethical Standard, and we have fvIfiNed our other ethlc?I re5ponsitxlities in accLYdance wlth Ihese requirements. We believe that the audii evidence we have obtained 1$ sufficient and appropnate to wowde 8 basis (Kx opnion. COMCLUSIONS RELATING TO GOING CONCERN In audn9 the finanriaf statements. have conduded that Ihe Triisle¢$' use of the 9tiing eoncem ba9 of aeeounbng In Ihe weparnb'on ol Ihe kn1•1 slatemwts is ¥pwowate. Based on Ihe work we have perfcfmed, have not Identified any material uncertaiTrUes relab"n9 to events or eondibons Ihat. inthNlduY rK colectivety. may cast signfficant doubt on Ihe ch8ritalJle companys abillty to continue a5 a gdng conrem lor a p10d ol at least Iwelve rnonths from the finaThual statements are aUlPvyi#ed tr issue. Our re5pon5lbi1e5 and the responthle$ ol the TNstees respect to g(xng cth¢ern are described in the relevant secticffjs of this rep OTHER INFORMATION The othef infomiation comprises the inforn)ation induded in Ihe Annual SOrt olher ts the ffinancial statements and our Auctors' repryt thereon. The Twslees are resPtIe for the other infommtlon contained wthin the Annual repc4%. Our opinion on the ffinandal slaternents does not cover the other information and. expt to the extent othernise exp&"dUy stated in our rep¢xl. we do rKJl express any form of asswance conclusion thereon. Our responsibilty is to read the other inftymation and. in doing $0. ¢SIder thether the ther inforrnation is malerially inconsistent Vith Ihe fjnanci statements or our kn¢edge obtsined in the course of the audit, or otherv+i$e appears to be materially misstated. 11 we identfy su( maten.al Inconststen¢ie¥ •ppareni meiial mlsstaiements. we are requked lo deterniine thether this 9Nes rise to a rnaterial mi6Statement In the flnandal statements themsefves. If. based M the Vvrk we have perfomed. vft C4)ndude that there Is o Material misstst•menl of thi$ otr•er Infmotion, w are reffjMTed to repyt that tsL* We have nothing to reprt in thls regwd. P¥9e 10
GUILDHE UMtrED {A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITORS, REPORT TO ThE IIEAIBERS OF GVILDHE LIPAITED ICQNTINUED) OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006 In our cpinion. based on the wowk undertaken in the course ofthe authi.. the informaliM given in the Tru5tees' report for the fir)3ndal year for the finanual ststements are pr•pared is con5iStenlith the firl¢la1 $tatwnerts. the TnJstee$' repyt has been prepwed in ac£rffdarKe apthbk regal requirements. ATTERS ON WHICH WE ARE REQiIIRED TO REPORT BY EXCEPTIOM In th• liqht ol our knoled9e and wderstsThliny of the Challab and its enbironmert ¢ttstned in the Course of the authL ¥ have not fjdenlified matwial misstatements kn the Trustees, rèport. WE have nothlng to report in respect of Ihe matter5 in relation to ¥Axth Companies Act 2006 fequires us to report to you rf. in ow L¥>inN)n: adequate a¢COLmtrng records have not been or retum$ for audit hav¢ nol been rVed trcffl branches not wsited by us" c the finandal statements are not in agroement th the a¢unting records aThJ relums., or erta"n disdosures of Tryslees. MuneratIon Speufied by law not made., or we have r1 received al the nl0m7at and explanallons iequlre for audit.. or the TStee$ we not entided to pwre the final#1 statttnents in aeeordance Tilh the Sma ¢ompanies regimè and tak advantage of the small cofflpanies. exernptions in pParn9 the Twstees, report and the requirement to Fxepare a Strate9ie rnp RESPONS181LITIES OF TRUSTEES As explained rnore fuly in the Trustees, responsimths stat•ment. the TN8tees ltho are 0lso the dlreEors of the charitst4e company for the wrp.oses of comp.any lawl are responsible f the pr¢paration of the financial statements and for bein9 satisfjed that they glve a frue and frdir vw. ar lor such inlemal conlrol as the Trustees determine 18 necess to enable the Ixepafation $tatemThts that are free from mateiial misslat¢fflent,.vknether due to fraud or eryw. In prep.aring the financlal 51alements. the Twslees are re5pwbIè for assessing the chariiable companls ability to continu? as a gryng concem. disclo"sing, as applcable. matt¢rs relaied to gOWI9 wicem and U#9 Ihe going concem basis of aeeounling unless the Trustees either InteThl to liquldate the tharilable eompany or'to ¢eas¥ operaltorys. or ha¥¢ no reaUstiG *mative ljui to do so. Page11
GUILDHE LIMITED IA COMPANY LlhllTED BY GUARAIIYEE) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF GUILDHE UMITED ICONTINUEDI AUDITORS. RESPONS181unES FOR TrIE AUDIT OF THE FINANCIAL STATEMENTS Our objective5 are to obtain reasonatjie a33urnnce atJut vthether the financiat statements as a t•&hole are free from material missialemen( 7hthether due lo fraud ty error, and to ls$ue an Auditors. report that indudes our opinion. Re4$onable assurance 15 a high level of ossur8n. but i¥ rtot a guaranlee that an audit conducled in accordance ISAS IUKI VAII aNwJy$ dete¢t a material mi5Statement it eSts. Mi$5tstements can arise from fraud or ernor and are considered materfal rf. Indmdualfy or in the aggregate, they could reasonably be ey¢¢¢ed lo infyJerKe the e¢OrnI¢ deosions of usws taken on the basis of these financial statements. Irregufarities, indudlng fraud, are instances of nor<c¥npliance wth15 and reguL4tions. WE de5vJn procedures in kn'ne Vth ow responsib41'tie5. ouuined above. to detect material misstatements in respecl of kregularitles, Induding fraud. The extent to tthi¢h our pr¢e3 are capable of detertin9 irregulanb"es, knduding fraud is detaed below.. We have cOndered the nafvre of the witrol environmenl and finanryal perkIance.. We have consthred the resulis cl enquiries mana9ement and Tw5tees kn Telation to their own IdentrfKation and •yJe55ment ofthe risk of iffe9Llafities within the enty.. and. We have reviewed Ihe documentation of key p1¢xeS and control$ aThJ perftymed walkthrough8 of Iransactiefjs k eonfirm that the systems ar operabng in bne wilh dowmentat•)n', We have identified any matt¥s hawry oblained and lNed the Group's documenlalion of their poIKles and wocedures rdating to.. Idertifying. evaluation and Compn9 ith 1¥4VS and re9al)S and ther re aYra of any Instances ol noncrynpliance: Detecty'ng responding to the iisks of fraud and th•thef they hawi knd9¥ of any actual. suspected ¢y leged froud.. The intemal Contro eslat4isld to rnib'gate risks of fraud or noncLvnpliance laws and r•gulabDns'. Wve have tonwdered Ihe maiters discussed am9 the audit engagement ieam regar¢fing aThJ vthere fraLkl might occur Sn the financial 5ts1ements and any polential in(h"cators of fr•KI. As a resuft of these procedwe5. have considered the cYportuneS and incentwe5 that may exSst vAthin tha organisation for fraud and hrfenbfied the highest area of risk to be in relaDon to revenue recognition. wth a party"cular risk in relalkn to year4end Culff. In common an audits under ISAS (UK) are a]so required lo perform Specif prsxedures lo spOrtd to the iisk of rnanagement ovewEide. We have also obtalned LYKleTStarry of the legal regtOry fraMe%rkS that tht COMpY oFerntes in focusing on prO5{anS of those laws and regulations Ihat had a direLI effect on the determinatlon of material amounts and disclosures in Ihe financial statements. The key laws and regulations we Consered in thi5 contexi induded the UK Coryanres Act, Chaiitres SORP. FRS 102 and UK tsx legislalion. In addition, con%dered provisions of olher regulab.ons that do I¢ have ¥ dIt effect on Ihe fanCIal statements Iwt compkance wih vhxth may be fundamental to the C¢)mpanYs ablity to operate or avoid material penalty, induding Hearth and Safety. GDPR and Oata Prolection and Egualty & DNersity r¢9ulation$. Audit r•sponM to risks Id•ntiffi•d Ow Procedu to rtryd lo the risks idenlofied incJded the loloing." Reviewing thE finanoal statement di$dosvrns ¥KI testing io SUPPQTting documentation to assess compllanr with provisi5 of relevant laws and we931)Qn5 deSbed as hawng d1cl effect on the finandal statements,. Enquiring of management con¢eming acbJal and potenlial iti"gation and dM$. Performin9 onatylical pro¢edure$ to identify any unusual or Lmexpected reL4tionships that may Indicate risks of malerial misstatement due to fraud.. Rewerj board meetiThJ minLtss', Performing detaled tranSath.aI testing in latitin tts Ihe re¢c*3nQn of leve ¥ p•itieular Yocu$ around year end cut-ofF, addressing Ihe risk of fraud mana9emert oveTride of contrds. tesbry apwopFiatene$$ of Page 12
GUILDHE LIMITED {A COAIPANY LIMITED BY GUARANTEEI INDEPENDENT AUDITORS. REPORT TO THE IEMBERS OF GUILDHE UMITED ICOMTINUED) loumal entries. ar#J olher ¥(luslments". a8ses¥ry the judgements made in m•king •ccwnting estirnate5 are in1tiVe of potential IM"as', ar evaluab.ng the tsInesS rathxale of any significant transacknns Ihat are unusual Cf tsle the nornal course ofthe bLwiness. We also eornrnunlcated relevant rdertffjed laws and regulations and potential fraud risk to all ervjagement t$8m members and remalned alert to any indications of fraud or non-compllae 1th lavJ5 and regulations Ihroughout the authL Our audit procedures were designed to respond to risks of matL¥ial rnisstatement the financial statements, recognising that the rfsk of not detectwig a matefial misstatement due to Iravd 15 higPer than the risk of not delectyng one resulting from an error. as fraud may irwdve deliberatè conctalmenl by, lor example. forgery. misrepresentations or through tt41uslM. There are inherent tsmitstFtsns li the audrt wocedure$ ptrrfomiÈd and the further removed non-corrpliance laws and regulalons is from Ihe events and tranSactic$ refiected in the finan¢Tal statements. the less kelY VR WO becimne aydre ofii A fvrther description of our respJnsit4lrties for the audi< of the ana31 stst8ments is localed on the Financiol Reporbng c0Cl,$ website at.. ¥hw.fr¢.or .uklauditorsr nsibilities. This description foms part of our Audllvrs. worL USE OF OUR REPORT Th1$ report Is m Solety to Ihe tharttable c(M¥ThS members, as • boty. in Chapter 3 of Part 16 of the colanIeS Ad 20. Our audit Irk ha5 been undertaken so that *&E mwjht state to Ihtr charttable companls members those matter5 we required to $tste to them in an Auditors. feport and lor no olher puSe. To the fullest eent pemiltted by law. do nc4 accept N •5sume res9111 to anyone other than the thariiable company and its members, ¥s a booty. for our audit worK for this repo¢ oi for the opiniony we have fornied. Pamela Tuckett FCA DChA (Senlor statutory audltorl for and en behalf of Bishop Flèmlng LLP Chartered AcwJnlants Statutory Audrtor Salt Quay House 4 Nwth East Quay Suttcm Hvjbour Plymouth PL4 OBN Pag¢ 13
GUILDHE UMrrED IA COMPANY UMITED BY GUARANTEE) STATEMENT OF HNANCIAL ACTMfiES ONCORPORATING INCOAIE AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 JULY 2021 4nreStctrd funds 2021 Total funds 2021 Totsl funds 2020 Not• Iorne from." Chorit•ble actmb'es Inv¢stsnents 942,918 412 942.918 412 920.849 1.432 Totsl inciwne Expendllure on: Ch¥ritable actMiRs 943,330 943.330 922,281 1 869.822 869.822 785,415 Totsl expendtture 1 869,822 869,822 785.415 Net mov•ment In fund¥ Re¢onelllatlon olfvnds: Totsl funds brought fordA1 Net movement in lunds 73.508 73.508 138,886 1.187.198 73.508 1.187,198 73,508 1.050,332 136.866 Total fumls Ganl•d forrd | 1,260.706 1.260,706 1,187.198 The Statement offinandal acbwiles am gains afKI losw rEcowld in the year. The notos on pag•s 16 to 29 f(mi part ofthes¢ finwci?I steml Paye 14
GUILDHE LIMITED (A COMPANY LIMITED BY GUARANTEE) REGISTERED NUMBER:02600590 BALANCE SHEET AS AT 31 JULY2021 2021 2020 Flxed assets Tangible assets 10 5.956 5.199 5.956 5.199 Curroni ¥s80ts Debtors Cash at bank and In hand 11 108,172 1,414.527 61,969 1.345,471 1.522.699 1,407,440 Crethtors.. amounts fallirvj due wilhin or year 12 (121.801} (87,305) N•t curr•nt assots 1.400,898 1.320,135 Total 4ss•ts l•ss eurront IlJbllitl•8 1.41X.854 1,325,334 reditors: amounts fallng due after more than one ye¥r 13 1146,148) {138.136> Totsl n•t a¥s•1• 1.260.71X 1.187.198 Charfty fund IthTestri¢thl funds 14 1,260,706 1.187.198 Ttstsl funds 1260.706 1,187,198 The Trustees a¢novAeflge thetr TeSp0rbsIIth$ for compty4ng llh the wuirtments of thè Act ¥th respect to accounting records and preparation of financial Statements. The ffinancial stalements have been wep•ed in acccfdanee vAh thè provisions *icatlE to enobe$ svbkct to Ihe'small compreS regwne. Th• finan¢Tral statements T4btre apwoved •JthNi5ed for issvts by Ihe Tw¥te•s on Kl slwed on their beh• by.. Anthony Mcclaran {Chair of Trustees) The notes on pages 16 10 29 fom) pat oflhese financial statements. Page 15
GUILDHE UMITED IA COMPANY UMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 GENERAL INFORIIATIOM GuildHE Lynitèd is a charitAe con1)Y ¢(wted in England and Wales Ireglstered company nLmber 02600590, wIsted thaiity wmber. 1012218). The giSted Offi i8 dsdosed on Ihe ¢ompany inlomialKsn page. ACCOUNTING POU¢IES 2,1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS The ffinanaal statements been swepared ii aceordance vAth tht Chathles SORP IFRS 102) - Accijunting and Reporfing by Chaiilie$.' Statement of Recommended Praclice applicable lo charit6es preparing their ?rKounts in aOrdan Tmih th• Frnangal R¥orbr4 Standard applicabk in the UK and RepLknli¢ of Irefand IFRS 102) leffecbve 1 January 2019), the Financia Reporting Standa appIae in the UK and Rep1¢ of Irdand (FRS 1021 and the Companies Act 2006. Gw"IdHE Lvnited meets the defiiwWI of a p&)lie benefft entity under FRS 102. Assets ond li¥blrties ** initialty reco3nlsed at histryital c05t or transa(on value unless othemse slated In the relevant accc4Jnting lCy. 2.2 GOING CONCERN The Trustees have revte4bEd Ihe aTm91anceS of Ihe Chaiity con&der that adequate re%rCeS ontinue lo be airailable to fund the ath85 of the Charity for the foreseeable future. The Trustees are oflhe view that the Ch is a golThJ concem. 13 COMPANY STATUS The company is a company Imniied by guafantee. In the event of the company being wound up. the liabty in respecl of the guarnntee 1$ I'mited to £1 per rnember of Ihe conyany. 2.4 INCOME Alf Incorne Is recognised once the c(Thpany has entsoement to the income. it is probable that thè income be received and the oflncome receNable w be measured retsably. Income tsx ietg)vwablÈ fft relation to Thiestment income 15 recognised al the twrte the investment incryne Is receivable. 2.5 EXPENDITURE Expenditrwe is recognbsed onc• there is a le9al or construcliw ot419¥b to tranBler eOrniG benefft to a thrrd party. it is probabk that a transfer of economic benefrts VAI be requed In $etVement and the amount ofthe Obgati1 can be measured reliably. Expenditure ts classified by acti. The eosts of eath activity are made up of the total of rfirtcl costs and shared Costs, Induding support cos18 invc4ved in undertakr'ng each aCfjv. Dlrect costs aitributat4e to a skngle athty are allocated directly to that acts'¥ity. Shared costs +••hlch contribute to more than one 3ciivity and Support costs le are not attrfbutabfe to a wgle apporticned between those aetivrfie$ on a basis consistent the use ol resource$. Centra staff costs are allocated on the basw of time $peni and depreclallon ¢horges allocated on the porbui of the asset's use. Expenditure on chaFit3ble ackn15 15 Incurred M dwecyy ertthng Ihe a¥i¥ib'e5 tllch fvrther Ihe crynpanl5 c*'ecbve$, as wel as any associated support costs. AU expenditwe is Indusive VAT. Page 16
GUILDHE LIMtrED . --_ (A COMPANY LIMITED BY GUARAMTEE) NOTES TO THE FINANCIAL STATEMEMTS FOR THE YEAR ENOED 31 JULY 2021 ACCOUNTING POUCIES (conllnu•dl 2.6 INTEREST RECENABLE Inlerest cn fvnds hebj on depos11 is induded receTvable and the arnOt can be measured IlatAy by the eompany.. thi$ is normaNy notifi¢ation ol the irtere¥t or payaLle by Ihe institution ryth the (unds are deposited. Z.7 TAXATION The company Is eonsidered to pa Ihe tests set out Sn Paragrnph 1 S¢hedule 6 of the F4nan¢e Act 2010 and therelore It meets the definllfjon of a tharltabk corryjany for UK corporation tsx purposes. A¢rorylingly, the conyany is potentially exempt from laxation in respect of inc¢)rne or capital galns received ltIn catégortes covertd by Chapter 3 Part 11 of the corpOrab Ta¥ Act 2010 or Seclion 258 of ihe Taxabon of Charyeable Gains Act 1992. to the extthi that Sueh ineorne or gairts are
Ple ex&iJsivety to charitatjle purposes.
2.8 TANG18LE FIXED ASSETS AND DEPRECIATION Tangible fixed assets costing £1.000 or meAe are cawtslised and reco9nised ffien future economlc benefits are probat4e and the cost or value of the asset can be measured rellabty. Tangi14e fixed assets are IrAlialty recogs al ¢osL After recognitth. ufKler the cost model, taDSwble fixed asséts are measwed at cost less aeujmulated depre(iafion and any a¢¢umulatd Impamient lo$se$_ Wl costs CUrred to bn'ng a tangible fixed asset into rts intended vffjfk9 condition should be inc4ude(I In the measuremenl of cost. Depreciation is charged so as to alo¢8t¢ the Cost of kngible fixed assets less their residual value t)vtr their eslimate<l usefvS fves. Depredallon 1$ wo4Yded the fthrwj bases." Fumiture. fixiures fltings - 15% Straht knel rryn4inin9 term of le11 Comwter and office equyment - 25% to 33% straight Ine 19 DEBTORS Tfadtr wnd ¢)ther are recognised al the seiaement •mrtt after any trade di8¢ount offered. PfepayThents ¥• valLd at the ¥nhyJnt prepaid net olany trade 4scounts due. 2.10 CASH AT 8AHK AND IM HAILI ash at bank and in hand ind9 cash and short-temi li9hty fiquid inveslments wth a short maturity of thre months or less from the date of acquigtion or opening of the d¢Fwii or simrlar aCfQLmL Page 17
GUILDHE LIMITED IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE HNANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY2021 ACCOUNTING POUCIES l¢¢>nllnued) 2.11 LIABILITIES AND PROVISK>NS Uabihues are recognised then there is an ot4iw.on al Ihe Balance sheet dale as a result of ? past ev( il is probable that a transfer oleconomic benefft ill be required in setttemenl. #nd Ihe amount olthe setdement can be estimated rdia. Liablities are reco9nised at the amount that the company anb"upales it will pay to setile the debt or the amtwnt it has recewed as advanced payments for Ihe gc¥$ or $•rVe$ rt must provlde. Proyisions ar measured at the b¢st esknaie ofthe amwnts r¢quted to setd¢ the obligation. Where the effect ofthe time value of mcney is material. Ihe &woslo Fs based on the present walue olthL15e amDUnt5. discounted at the PTe4ax thscount rate that refiects the risks speufK to the liabdtty. The unt•Anding of the olseourt ts recognised kn the siaternent of financial a¢bvities a¥ a frrbance c05t. 2.12 opeRATIMG LEASES R•thta15 p8ld under operating leases are chwged to Ihe Statemenl of ffinanc4al athities on a stralght ne boys over the lease temi. 2.13 PEIISIONS The company operates a deffined benefits pension scheme. The 3cheme is a multpemployer scheme ere h is not posslbje. In the nomal eofft of events. to identity a l$l$lent 8nd re¥¥onable ba515, the share of Underf'n9 ass¢ts and liabilibes bebrying to >JivVal Pa"rPatt.ng employer$. Thereth, a$ required by FRS 102 Section 28 "EmFloy¢e beneffts" the company account$ for this sch¢me a$ rf rt was a defined witribution schewe. The amount charged to the Statement of financial acti¥itses incorp)ratmg in¢ome ar ¢xpendiUxe ajnI pralts contribthns payable to the eme respect of the accounting period. 2.14 FLIND ACCOUNTING General funds unT?3trirt fimd$ are w•lable for use at the discrekn of Ihe TnJslw5 in fwlherance of the general olects$ ol th company arKI ththich not been designated for other purposes. Designated fi$ cryirise leStrIcted ld$ that have bÈen set awde by the Twustees for p8rtScular Jrposes. The ain and use ol eath designated fvnd is sel CArt kn the noles to the financtal statemen1¥. Restricled lunds are funds are to be used in accordance Ailh specrfic re$tr"ctions imposed by ots or vthich have been rni$ed by Ihe c4wpany lor partiujlar purposes. The costs of raising and 4dmini5tering such fuThYs are tharged against the speofi¢ fund. The aim and use of each restrlcted knd i¥ set out in the notes to the fmanLyal statements. Investment Incoffle. gains #nd losses are allocated to the 8pproFYlato fund. Pw18
GUILI>HE UMITED IA COMPANY LIMITED BY GUARAPITEE) NOTES TO THE F114ANCIAL STATEhlEèITS FOR THE YEAR ENDED 31 JULY 2021 CRITICAL ACCOUNTING ESTIIIATES AND AREAS OF JUDGEMEMT Estimate$ and ju¢Jgemenls a conb"rnIY evaluated are based on histcfflcal experience and ¢)ther 18ctors, in¢kJth"ng expectalions of fulure e¥enls that are beb'eved to be re•Sable under tho ¢wrJJmslan¢¢5. itical accountwig eslimales and assumpbcffis". The company makes eslimates and as$pilon5 Cetm1 the future. Tr relting oc¢ounting estimates and assumptions ill. by definition. seldom equal Ihe i¢lated acthal resuks. The estimates and •S5umptions trt have a si9nfficant risk of causrng a material adjustment to the ryIng amounis of assets liabililie5 v•thin th¢ n¢xt financial are disGussed beltr•4. Critical aaS of judgement". PenOn defidt &$bty.. The Chity h¥$ entered nto an Jreel Wilh lis penwon pffjwder that detemiines how the Charty Véil fund a defiat and ès suth the Chanty has recognised a liabilrty for the contributions payable Ihal aiise the agreement. Assumptions have been made foi ht)w $al8ry values and staff ¥0m¢S ¢hange the fulure arrtl the disco1 Tate used vthith has been based on the rate of a high quality c¢vporate bond. INCOME FROII CHARrrABLE ACTivmES Unr•strl¢t•d ld5 2021 Total luTrds 2021 Totsl funds 2020 Membershlp subKrfptions Room hire and subletting Income Conferences and events 929.249 929249 879,860 3,724 30.290 0.975 4,830 8.839 4,830 8.839 TOTAL 2021 942.918 942.918 920.849 AJ Ihe priy year VKL¥ne was LmTestrl(W. INVE5TMEMT INCOME Total fvnds 2021 T¢tal lunds 2021 2020 Interest recebved 412 412 1.432 AJI the prior y8ar income s Unstri. Page 19
GUILDHE LIMITED IA COMPANY UMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEIIENTS FOR THE YEAR ENOED 31 JULY 2021 ANALYSIS OF EXPENDITURE BY AcnvmES A¢tivilles undertak•n dirKty 2021 Support costs 2021 Total funds 2021 580.382 289.440 869,822 undertaken dye 2020 gjpport eosts 2020 Total fvnd5 2020 ChariNe ¥tNitses 468.175 317.240 786.415 ANALYSIS OF DIRECT COSTS Total funds 2021 Total funds 2020 S34,771 1.993 372.718 1,931 32,498 50.896 10.132 Prfnlkng & $talionery Research & Cdabor•tiv¢ Proierts AcLommodation & event costs Other staff Costs 4.810 580.362 468,175 Pa9e 20
GUILDHE LIMITED {A COAIVArlY LIIthTEO BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENT5 FOR THE YEAR ENOEO 31 JULY 2021 ANALYSIS OF EXPENLXTURE 8Y ACTMTIES ICOIIT114UED) ANALYSIS OF SUPPORT COSTS Totsl Iwids 2021 Total funds 202 Depredation Travel daim¥ & expenses Subscrfptsjns Premises rent, fates & seThice chge Maintenance Insurance Bank charges PFinling & stationery Postage & telephone staff iraining Sundry expenses Bad debts Profes&onal fe Pensl¢)n interest Governance $ts 2,021 2.244 80,579 83,802 26,459 3,479 713 1.988 14,060 75,679 83,438 13,$58 2.508 622 488 2,363 2.589 6,267 14.415 28,682 8.451 62.132 2.695 2,384 4.S40 31 18.098 3.$30 58,86S 289,440 317.240 GOVERNANCE COSTS Unmtricted funds 2021 Tot•1 2021 Audttors, renumerntion Auitors' ¢OSts A¢c4YJrtancyle¢s Wages and sa13rOè$ Employern, Nabonal InsurarKe Employers, pension costs 7.020 1.900 8,756 30.830 7,020 1.900 8.756 30,830 3,854 6.50S 6.SOS 58.865 58,865 P•3e 21
¢• GUILDHE LIMITEO (A COMPANY LIAIITED BY GUARANTÉE) NOTES TO THE FINANCIAL STATEIIENTS FOR THE YEAR ENDED 31 JULY 2021 Unrethded frjnds 2020 Total fvnd$ 2020 Audltors. renumerntlon Audilors. nomudtt costs Accwntancy lees Wages and salaries EmplOr$, Nalional InsuF¥nce Empk)y¢r5' pension ¢0515 5.950 1.690 13.377 30.830 3.859 6.426 5,950 1,690 13.377 30,830 3.859 6.426 62.132 62.132 STAFF COSTS 2021 2020 Wages and $ale$ Social security ¢05ts Coritriwton to defined corrtrltrAMion 3¢h¢me8 and penson IlablDy changés Govemant• staff ¢osts 421,933 31.379 383,587 33.398 81.459 41.189 (44,267) 41.115 575.960 413.833 The 4verag• numberolpersons employed by the Company dwing t year was as follNs:' 2021 2020 No. Staff Management 10 10 Poge 22
GUILDHE LIMtfED IA COMPANY LIMITED BY GIIARANTEE) NOTES TO THE FINAIICIAL STATEAIENTS FQR THE YEAR ENDED 31 JULY 2021 STAFF COSTS ICONTINUEDI The number of employees Vthtthe eiM)Iw benefts {exduding emF4oyer pensbn costs) exceeded £60.000 was: 2021 2020 In Ihe band £70.001- £80,000 In Ihe band £90.001- £100.IXKJ All Twstees and certain seThor ernFtyes have aUtirity and resp$* lor Flannin9. directwig aThJ controning the aCtieS of the Charity are consider¢d io be key manogement personnel. Total remuneration (induding emF4oyers nation•1 In5urnneÈ pensi) contrknub"¢)nsl for these individuals is £124.816 (2020.. £124.593) TRUSTEES. REMUNERATION AND EXPENSES During the year. no TnleeS received any remuneralion rA other l)enefits12020- £NILI. Durfng the yew ended 31 Juty 2021, Tmstee expen525 have been IeI2020- £NIL). 10. TANGIBLE FIXEO ASSETS Flxiurn5 and Comput•r ffttlngs •qulpmènl Total COST At 1 August 2020 A&Jllions 59,959 14,375 2,778 74,334 2,778 At 31 Jtdy 2021 59.959 17.1S3 77,112 DEPRECIATION At 1 August 2020 Charge for the year 55.035 14.100 333 69.135 2,021 At 31 Juty 2021 56,723 14.433 71,156 MET BOOK VALVE At 31 Juty 221 3.238 2.720 5.956 At 31 July 2020 4.924 275 5.199 Page23
GUILDHE UIAIITED IA COMPANY LIMITED BY GLIAIIANTEEI NOTES TO THE FINAMCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 11. oeBTORS 2021 2020 DUE wrtHIN ONE YEAR Trade debtors Other debtofs Prepaymenls and aCcn ineome 10.75S 406 95 61,468 87.417 106,172 61,969 12. CREOITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 2020 rr* credilols Olher ts¥ation and social swjrity l)Ihef ¢reditors Ac¢wal$ and d¢leFTed ir1me 12,617 12,236 17,193 79,755 32,276 13,458 7,667 33,904 121,801 87.305 13. CREDITORS: AIAOUNTS FALLIIIG DUE AFTER MORE THAN ONE YEAR 2021 2020 Pensw lablty 146.148 138.136 P•ge 24
GUILOHE LIMITEO (A COMPANY UMITEO BY GUARAN1 FIOTES TO THE FINANCIAL STATEIIENTS FOR THE YEAR ENDED 31 JULY 2021 STATEMENT OF FUNDS STATEMENT FUNDS- CURRENT YEAR Balane• #¢ I Aiigwt 2020 Bal•nc• ot Inwrne EXp1¢ure 31 Juty 2021 UP4REsTCTED FUNDS DESIGNATED FUNDS Members, proi¢ct fund 120.000 120.000 defKit JISC ROMS PrDji 700.000 9.945 700,000 8.145 (1.80Q) 829.945 (1.8001 828.145 GENERAL FUNDS Womng ca1 fvrvj 357253 943,330 1868.0221 432.561 TOTAL UNRESTrICTED FUIIDS 1.187.198 943.330 {969.822) 1.260,706 P4e 25
GUILDHE UMITED IA COr•iVANY LIMITED ey GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 STATEMENf OF FUNDS ICONTINUEDI STATEMENf OF FUNDS- PRIOR YEAR 1 AJJgust 2019 Tronsfern Balance al ffilout 31 Juty 2020 Income ExpeThffii UNRESTRICTED FUIIDS DESIGIIATED FUNDS Members, project fund Asset 9rv•lh fvnd as reC09nOn ofpen&th defiEii JISC ROMS Project 120.OryJ 120.000 700,000 9.945 9,945 820.IKIQ 9,945 829.945 GE14ERALFUNDS Woth9 cawta fvnd 213.587 922.281 (778.615) 357.253 TOTAL UNRESTRICTEO FUNDS 1.033,587 8.6151 9,945 1,187.198 RESTRICTED FUNDS JISC RDMS Project 16.745 (6.8001 <9,945) TOTAL OF FUNOS 1.t)50.332 (T85,4151 1,187,198 Page 26
GUILDHE UMJTED IA CQMPANY UMrrED BY GUARANTeEI NOTES TO THE RNANCIAL STATEPIIEIITS FOR THE YEAR ENOED 31 JULY 2021 DESIGNATED FUNDS 11ambe. project fund The Members. project fijnd wresents fwJthThJ for rneMbe' Interests. that may not be in full frcffl membernhP subxriptsws n any one ye. Asset 9rowth fvnd a$ rÈ¢ogn115on of p•nsion deficit This fund represents arnounts Set a%de for ihe potsntial aystallisaliw of the Iwty assodated Vilh the ChaTity's membership ol Ihe Unlvewsitie5 supenk S¢hethe. Detals of IKW the trabillty 15 treated kn the'finanriol statements is Set otrt Sn note 20. JISC RDAIS Project The tenns and tditC5 of the lunding have now Ixen conwied vitlh, the Trustees ha designated residual fvnds for cofttinutsw the woiert RESTRICTED FUMDS J15C RDMS Project GulldHE Research. partnerin9 tlh VnNeTrlty ol Ihe Creali¥e Arts (UCAI, Leeds Tthlty unlversty.and partners, secured fijnding from JISC for the project, "A Cffi50rbal ADproo¢h to Building an Integrated RDM Sy3iem IRDMS1-. The wojert explored the possitlity of buikjW a research data $y$l•m that Ul be used by a consortwm of GudE Restarth members. •nd sirltaneOUslY pro¥lde a model for the other smaller and l or speualist insb"iub"tins 7ith creaSinglY ¢unplete researdl dats management requirements and fxnrled resources. Funds remainw)g at the end of the prol¢d are to be uaed lor the Continued support of RDM and have been transl8r¢d to desjgnated fvThJ5. 15. SUMMARY OF FUNDS SUhlMARY OF FUNOS . CURRENT YEAR Bal•nc• •t 1 August 2020 Balane• at In¢om• Expenthra J1 Juty 2021 Destqnated funds General fvnds 829.945 357.253 11.8001 1868.022) 828,145 432,561 943,330 1.187.198 943,330 (869.822) 1.260.706 SUMldARY OF FUXDS- PRIOR YEAR 1 August 2019 Transfers Ba13nce at Inl0ui 31 July 2020 Designated Avlds General fvnds Regth"eted funds 820,000 213,587 16,745 9.945 829,945 357.2S3 922.281 1778.61S) (6.800) {9.9451 1.050,332 922.281 (T85,4151 1,187.198 P•g• 27
GUILDHE uMfT%ry_. (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 16. ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS- CURRENT YEAR Unr••trict•d funds 2021 Totsl funds 2021 Tan9[ fixed assets Current assets Creditors due within crn ar 5.956 5.956 1.522.699 1.522.699 (267.949) (267,9491 TOTAL 1.26D.706 1.260,706 ANALYSIS OF NET ASSETS BETWEEN FUNDS- PRIOR YEAR Unrestrid•d ld$ 2020 Total ldS 2020 Tangible fixed assets Cuvrent assets Crethtors due %%ithln Me year Credit due In more than one J*aT 5.199 1.407,440 187,3051 1138,136) 5.199 1,407.440 {87.3051 1138,136) TOTAL 1.187.198 1,187.198 Page 28
GUILDHE UMITED IA COMPANY LIMITED BY GUARANTEE> NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 17. PENSIOII COMMITMEMTS As detailed in the aotIng FdKy. the Chwity ho5 ated for a Mulb4MoYer dthed benefits pension xheme as a defined ¢cthbons pensv)n schern¢. The assets of lh¢ stheme are held sewatdy from those of Ihe company In an Independenuy adrninistered fijnd. The pensw cost drge rewesents contr11On3 payable by the company to the fund and am(yvnted to £66.319 (2020". £76.3681. ¢tsbu.0ns of £NII {2020". £1.132) payable to the fund at the balance She date. Induded on the balanc 5h•et is a for agreed fulure contributions to the defflned ben¢fft penson scheme. I#. OPERATING LEASE GOMMITMEIITS Al 31 July 2021 ihe company had commthnts to make mininum l¢•s¢ payments under non- ¢ancellable operatin9 leases as lolJM." 2021 2020 Not later then l y 28,47B 64.076 19. RELATED PARTY TRANSACTIONS Owing to the nalure of the Charitys operalion5 and the ¢omp051tion olthe Board of Trustees being drawn from pubnc Sécthr and prpnte sector rXganisa$. transath.ms may tske plarx ¥thth ryganisatyOn$ In ts¢h a Tnjstee ha$ an int•r•st. All transact)ns imirkn.ng 3LKh ¢xgaTh3ation are c(ffiducted In accordance *Aqlh Ihe Charity¥ financial re9ulalions and nomial procurement procedures. No related party transactths took plac£ in thE year. Transactions member institutions ¥&hefe Trustees have an interest have not been di5close(l as they do not meet th¢ defiftiti. ola relaled paty. COMTROLUNG PARTY The Charity Is ¢lled by fs members. Page 29