R•gl$t•rnd nurnb•r: 02600590 Ch•rfty n￿lts•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 adMIrts￿lIv• d•tall* oflh• c¢xnpany* Its Tnty1￿ ad¥l••v• Tvugts•*' report Tntst••s' rnsponslblllllm $tst•m•nt Indep•nd•nt a4￿1t0￿. on th• finanGthI slat•m•nt• 10-13 Statement olflmndal •¢ll¥lde* 14 8alanc• 8h••t 1S Ilot•s to the IIn•nCi￿ •l•l•ments 16-29 GUILDHEthIMITED IA COMPANY LIMITEO BY GUARANfEEI REFERENCE AND ADMINISTRATIVE DETAILS OF THE COIAPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JULY 2021 Tr￿1••9 Or Dwd Llv•elyn. Vtrchwlor. H*pw Adams Urriver*- rntired July 2021 (resigned 28 May 2021) Professor Karen Bryar*. VK&C￿cel0r, York SL Jokn Unlverslty (appohted 6 May 20211 Professor Nlgel Seat(￿, Principal Wc&CharrteNor. Abertay University Paul Kytham. Chief Executive, The Institute of Contemporary Muslc Perforniance Ashley Wheatw, Prindpal. Unrversty College of Estate Management Pmlessor Si￿￿)ne W¢Jnna¢ott. ￿1￿ Ch¥ncellor, Leed5 Art5 Universlty Reverend c￿0￿ profes￿ Peter N￿1. Vice Chancellor. 8ishtsp GroM¢t*$t• Universty Abigail Ap￿. Pmcpal. Hereford Cclege of Arts Anlhony Mcclarnn. Mce Chancelor. Si Marfs Uravernity London lappolnled 16 Juty 2020) Prole550r Tr*clTrtilas Bratsty. Vtt Ch•nceNGY. ￿¢￿ngham$hlre New Universty lapwnted 6 May 2021) Company rn*ternd ftumbgr 02600590 Charlty v•gl¥tsr¢d numb•r 1012218 R•glsl¢rnd offle• w0￿jM HryJse 20 Ta¥lslth* Sware Lond WC1H 9HB Chi•l•x•¢ullv• offlur KICKen￿e Ind•p•nd•nt audltors Bishop Fleming LLP Chart•r•d A¢¢wnl•nts Sak Quay House 4 North East Quay Sutton HaTbour PL4 ceN ank Bank Of Scotlar 33 Old Broad Street Lond( PO Box 1000 BX2 1LB Soli¢liors Eversheds 1 W&)d Street London EC2V 7WS Page 1 GUILDHE LIMITED (A COMPA14Y UMITED BY GUARANTEE) TRUSTEES REPORT FOR THE YEAR ENDEO 31 JULY 2021 The Trustee¥ present I￿1r annual report loJether ¥￿th the f￿anCIal 5tstements and asjdittirs, report of tho Charity for the year ended 31st Juty 2021 ￿lch are also prwed to meet the require￿ntS for a directors, roport and gcGounts for comp￿leS Act purposes. The financial statements compty wrlh the Charrties Act 2011, the Comp8nies A¢1 2006. th¢ Memor8n¢Jum and Articles of Asso¢ialion, and Accounting and Reportin9 by CharrtJ"es.' Ststement of Recommended PraGti¢e applicable to chanlies preparing their ￿COUnts in accordance wrth the Ftnancial Reporthg Standard •ppli¢able in th¢ UK #nd Repubft"c of Ireknd IFRS 1021 (effective Oct￿)er 20191. &nce tht company qualthes as wnal under sectkjn 383. the ¥trate9ic r¢pryt required of medlum and large companies under The Com￿leS Act 20C6 (St• Rewt and Dwedorfs Report) Regulat￿￿5 2013 i¥ not reqUi￿d. CHAIRMAN'S REPORT Once ¥g3in, this year has been a challengiThJ one kn Ihe hvJher education sector. The pandemk has continued to cause disrupti¢)n and rts ellect has Te￿rber0ted on staff. students and HE pwders. At GuildHE. Ihe team have r8main•d commilted to supprytm9 our members thrtwghout thi5 perh?d. Wrth regular weekly online briefings for h•ads of inststutiorhs. we have provhl&l a sounding t*)ard for concErns to be raised. and by bringing in speake￿. including the Unwsit￿S Minister. sen￿Y DE athj office offK1￿$. 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 Institutic￿l responses lo the pandeffl￿ and we have continued lo present our members, positions lo the 90vernw￿l Through this woth GuiklHE has helped to ensure th4t all wadical students were allowed to retum to czmpus. and we 450 p￿&Se￿ for p￿Cemen15 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• P￿dern[C on $maler and Spegal￿t instituti.ons vras underst￿d. Thai work v*ill continue #ome twne lo come. as we t*kFe the ￿￿K1￿ thallpnw ￿n9 the se*. ￿181 Klenlifying ways in which we n assist th• nalional recovwy effo In the spring we held an￿ successful annual GuihJHE wiltrrn￿. my first as Chair. tt wovbded an excellent opportunrty for our members to meet and to dts¢us$ many of the ChaI￿nge$. and lo hear from Speakers, in¢luding the newty 4Jpointed Chair of the Ofs Lord James ￿)art0Th.. the UnN•rsiti*s Minlster. Michelle Donelan., and the CEO of Universibes Australia, C**)na Jathson. We also had the opportuniiy to thank David Ueweltyn for his outstanding cu)tn"bukn to GuiklHE as its Chair overthe last three years. However, ther¢ also remains much to be done to ensurn that stud¢nts wtinu¢ io get the mosl out of their higher education. in a seclor that faces fvrlher changes the •nwronmttnl. In the last yèar we have V40rked wilh ¢Xher sector boditis to wrtn.bute con$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$ic*ning the QA4 to develop o new TNE met￿d and supwts"n9 the wtyk M acaderrme inte9fity and the sectorknwide chArter. In all of this woth. Ihe interEsts rl GuiklHE rnerthrs WMI be at the forefront. as we ensure that students ¢ontinue to have a wNle (*¢ice and genuw* ijvusity of provision Ihat rn•ts their n￿d8 and aspirations. In the meantime, this report sets (wjt in mofft detail some of the major issues that GuiblHE hes addres$¢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)at￿n about our or are bnteTe$led n knowing mre *Jout rneTrknrship, you not hesilate to c(￿laC1 us. Paye 2 GUILDHE LIMITEO.- IA COMPANY LIMITED BY GUARANTEE) TRUSTEES REPORT ICONMNUEDI FOR THE YEAR ENDED 31 JLILY 2021 OBJECTS AND ACTivmES The Chantys cc¥e objects. as set CMJI ￿ its MemLYanthJm of Associallon. ore.. To prorThSe and knprove higher educatth in the United KingdcAn and elS￿ere in direct furtherance of the 0tr4.ects and mi8sion$ of Company mernbers ty the promotion of discussion and consultalion, the fom?ulation of policies the prov7w￿ of repIeS•nta￿n. infDrm*ion. 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 St￿rt en9agwnenL ewience ¢xrtcmies as the heart of a quality UK HE sKtor. Gov•mm8nt.' To infomi and influenc¢ UK higher education policy and prat*i¢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 impOrt￿Ce of a di￿Se. intematK>nany successfijl hi￿er 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 inlematiL￿aI stud•nts make to the UK. Chamwon the rofe d hWJl￿T education as ckAe partnws *ith industiies delNering hwjh quahty. work r¢levant. hlgh level sklls and profess￿al education. 'The 8ignifi¢8nt athitses undertaken Ihe witid were.. 302 Mèttilgs Tmih Gmmmeni 552 MeÈtin9s wilh Se¢lorAgerK 4 Mert*er visits 32 Speaking engagements 55 Polry 8riefings and Government Cons￿atron respo1￿5 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 pub*shed on a fortnightly basis. We C￿tinUe 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 p￿Sert￿e ¢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 Gu￿￿￿E CEO and senM)r *8ff have tINs year Wry￿ded keynote speeches and panel contributions al veral n4tional events ind￿ling. 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[t￿S are for the public benefit. GuildHE prov*Jes 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 lrarnew￿ks. 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 ¥ C￿sequer￿e 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 unl*￿sIt￿S 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. sen￿r OIE and Home OffKe offici￿S and the CEOS frun Ofs. QAA, AdVan￿HE, 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 impfementir*J government guidance Raising member issues wilh Minister5 and govemrtwt Mdudin9 highli9hfin9 the chatlenges around practical subjects and he¢*iThJ ensvre that all pract￿1 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 Instit￿￿5 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 prOd￿d the HE Tcd(h. ran Yrfofft￿0n events and produ¢8d other resources for Instrtutions Helped tsEkSE the govenwT*rt n8rralive around 'gr8de inflati￿. through Ouf ongoing work wilh UUK and QAA to develop principles for degr￿ algonthffls. moniior the Knpa¢t ol the Slat*ment of Intent, launch a project on extemal examining, w￿UCed 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 $e¢ret3riat support of TEAG - this include(I several meetings V*ith the Review T•an and DIE Ofvials. responding lo the consultat40n and APPG cth emdence tr￿ raising the issues throuth blogs and with P8rfiamentarians Helped influence the outcorw of the NSS review through ow meetings wtth 0￿, media activrty and consultatKJn responses - many of Wf fe¢tynmendalm8 ¢•n be seen in the outccthÈs of the fiF5t phase of the wsullafion Supported the develcpment of KnovAÈdge Exchange Crnctsrdat and KEF Wn in capita fvnding - £30k upfront wrthoul bidding 15 great for smaler HEIS Secur￿9 8 govemment commitrnent to explrKe credrt based funding GuildHE Research was ¥proved as 8 Signalrmy of Concordat to Support Research Inle9rity. alongside The 8rttish Academy and Research UK. Our induwon means the full dNersity of instrtutK)rv& wtl be represenled amongst the svJnatories and we can play 4 role in shaping the group's approach to strengthening res•arth ntegrity in the sector. Gained a place on the UKRI Forum for Tac*ling Bultying and Harassment. a UK wi(Je initiativg With international membèrs to hwhkghl these dHlenges in the researth system. Submitted tw) ￿.￿$ 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 r￿￿1¢h into the eyperien￿ of postgraduate students at smal￿{ and speci*liBt 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￿*>81S*1P sthcr1pt￿j. 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 ffina￿al impads fK¥n the Covid-19 restri¢ts"on$. There were some savings on ¢lfice based expenditure and travel. Men*ers conkn.nued with a high level of engagement on onh.ne a¢tivrtW. Niduding the Mrtuel Swing conlerence. At the y•ar end Ihe Charity had totsl reserves of £1.260.7Cfj v*ts"th were all unrestrid¢d of whi¢h £432,561 i¥ undesignated free reserve$. 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 maint￿ned at a kvel vA)ich ensures that the premises and sta￿9 ￿$ts of the organisalion's activity could continue during 8 of unforeseen drficulty. Reserves to be maintsined in a readity reali8able fomi. Any surplus reserve5 over this level of funds to be designated for the replwient of o$sets and 5UPPQrt of the ¢tr￿￿et￿n 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 ass￿1￿ wilh eath Stream of I￿orne 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 def￿1 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 lu￿re. The TrusleeB are of the view that the Chaiity 15 a gI￿n9 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•s￿s• 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 le￿hIng Engaging with the rel￿7 ol intermedkn*e 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 FfarwE*ork to challenge Teguw burdens and Costs Showcasin9 the disti￿￿ve ¢ontn"bul1￿ of GuiltlHE hnsliiutitins to teathing. ￿Se41¢h and wlder society induding. thrtyJ9h our new cc*nrnunications and public affairs strategy Engaging wrth the IrKlustrial Strategy. p￿￿leS on -place" and relevant research, knowledge exchange and skills funding discussions vhlh the aim of ¢nsuring the Contr1t￿l10n 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 rr￿n￿r instituti￿3 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 90vemn￿n1.s future policies on intematithal studants and stsff Supwrting the developrr*nt 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 dernc￿Strate the vnprylance of speothst institthion5 to the future skills pipeline Developing our capacty to share kn¢Y￿edge and good practice in relat￿n to widenin9 PartKipatitin and attsinrr￿nl 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 C￿nge$ in Governmènt directionlpolry mean that GuildHE's strategy becomes iffelevanl Operat￿1 risk- tsJ$iness corthuty is$w i1*1￿1r￿j ¢)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 operal￿n￿ 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 re￿Ie(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. f￿dS are reti8ingJ in an Interest paying deposrt aeeount and a proportion placed wrth Handelsbart(en to xhieve an wnwoved retum on liquAI a$$els. Th*se 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 L1Th￿ted 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 ttrmugl￿U1 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 cont0￿Ute 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 beff*elhey ¢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 EXec￿1ve 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 rK*inaNy 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. u￿siSting 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, wh￿h rneel$ six tin*s per y•ar. A Chief EX¢￿￿1¥* Offlcer and a Ccmpany Secretary are appownled by Ihe Tn￿lees. 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 1￿mial business by its Board of Trusteés l Board of Directors. coMp￿n9 the E￿ul￿Ve Group. whth meets six twne5 per year. A Chief Exetsthive Officei a￿1 a c￿np￿￿ Secretary are apE￿inted 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 Org*nls•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 laTrJI￿d for the premises used by the GuildHE Offices in Ctnual Lthjon. GuddHE svb-lel part of off￿e spare lo the chartsble organisation Di￿a UK until November 2024. Sub4ssoa*ions 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 re￿￿nI 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 reSponsi￿e for prewwig the Trustees. report and the financial *atements in accordÈnc¢ opplicable law and Unlted Kingdtyn AcCo￿tr.ng stsTrJ¥rds (United ￿ngd￿n 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 Statem￿ts 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 app￿callOn 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 prinri￿e$ ot the chariti.es SORP IFRS 1021.. make judgements and a¢¢ounling eslimates that are reasonable and prudent stale whether aoicable UK Accountyig Standa￿s (FRS 1021 have been follmd. subjecl to material departures disclosed and typ1a￿e￿ 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 k*epin9 adequats accounting rec￿d5 Ihal are sufficient to shfyw and explai the companvs transactions and Oisdose lhith r*asonabk 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 •$S￿S of the company ar+d hence for taking reasonable steps for the prevention and deteCtm￿ offraud and ther Irre9th*ts¢s. Approved order of aTrJ swwed on its t*halfby. 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 a￿7¥￿5. the Balance $heeL the Ststement of cash flows and Ihe related notes. Indudir¥J a summary of signfficant a¢cthmts"ng ptslitses. The financial repo￿ng framework that hos apwied in their preparabon is apph'cable law aThJ Unlted Kingdom Aco)unting Standards, induding Flnznclal Reporting Standard 102 The FI￿claI Reporting Standard appliCa￿e in the UK and Republic of Irdand. (United lfjngdom Generaly A￿epted AcLtyJnting praCb.￿l. In our OFKnw the finandal statem￿ts. ve a true and tsir View ol the state of the chaiitaAe ctynpanls affairn as at 31 July 2021 and of fjts Incoming resources and appllcation of resoU￿es. Ils and expendibJr& for the ye8r Ihen ended., have been pmpety wepaTrd in aoordance ur￿ lfjrwjdcrfn GeneT* Awrted ACcO￿lI.ng Praclke: and have been wepafed in accwthnce with Ihe Tequtrements ofthe C¥Nrpan*s Act 2006. BASIS FOR OPINION We conckthd our audit In accordance wilh Inlemakffia Stsndards on Audtt(ng IUIQ IISAS IUK)) and applleable law. Our responslbiliti'es underthose s￿dardS are further desuibed in the Auditors, resp¢Y￿1bif1tse¥ for the audit of the firta￿al Statements section ol our feporL We are Inde￿dent of the chaiitable company in accordance th the ethlcal requirements that are rdevant io our aL*Ji¢ of the finanL¥al statements In Ihe United Kingdom. Induding Ihe Financial Reporting Councd's Ethical Standard, and we have fvIfiNed our other ethlc?I re5ponsitxlities in accLYdance wlth Ihese requirements. We believe that the audii evidence we have obtained 1$ sufficient and appropnate to wowde 8 basis (Kx opnion. COMCLUSIONS RELATING TO GOING CONCERN In aud￿n9 the finanriaf statements. have conduded that Ihe Triisle¢$' use of the 9tiing eoncem ba￿9 of aeeounbng In Ihe weparnb'on ol Ihe kn￿1•1 slatemwts is ¥pwowate. Based on Ihe work we have perfcfmed, have not Identified any material uncertaiTrUes relab"n9 to events or eondibons Ihat. inthNldu￿Y rK colectivety. may cast signfficant doubt on Ihe ch8ritalJle companys abillty to continue a5 a gdng conrem lor a p￿10d ol at least Iwelve rnonths from the finaThual statements are aUlPvyi#ed tr issue. Our re5pon5lbi1￿e5 and the responthl￿e$ 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 Auc*tors' repryt thereon. The Twslees are resP￿￿tIe for the other infommtlon contained wthin the Annual repc4%. Our opinion on the ffinandal slaternents does not cover the other information and. ex￿pt 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 $0. ¢￿SIder thether the ther inforrnation is malerially inconsistent V*ith Ihe fjnanci* statements or our kn¢￿edge obtsined in the course of the audit, or otherv+i$e appears to be materially misstated. 11 we identfy su(* maten.al Inconststen¢ie¥ ￿ •ppareni m*eiial mlsstaiements. we are requked lo deterniine *thether this 9Nes rise to a rnaterial mi6Statement In the flnandal statements themsefves. If. based M the V*vrk 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 rep￿rt 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 con5iStenl*ith the fir￿l¢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 kno*led9e 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 r￿Ved trcffl branches not wsited by us" c the finandal statements are not in agroement th the a¢￿unting records aThJ relums., or e*rta"n disdosures of Tryslees. ￿MuneratIon Speufied by law ￿ not made., or we have r￿1 received al the nl0m7at￿ and explanallons iequlre for audit.. or the T￿Stee$ we not entided to pwre the final￿#1 statttnents in aeeordance T*ilh the Sma￿ ¢ompanies regimè and tak* advantage of the small cofflpanies. exernptions in p￿Parn9 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 l*tho are 0lso the dlreE*ors 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 $tatem*Thts that are free from mateiial misslat¢fflent,.vknether due to fraud or eryw. In prep.aring the financlal 51alements. the Twslees are re5pw￿bIè for assessing the chariiable companls ability to continu? as a gryng concem. disclo"sing, as applcable. matt¢rs relaied to gOWI9 wicem and U￿#9 Ihe going concem basis of aeeounling unless the Trustees either InteThl to liquldate the tharilable eompany or'to ¢eas¥ operaltorys. or ha¥¢ no reaUstiG *mative ljui to do so. Page11 GUILDHE LIMITED IA COMPANY LlhllTED BY GUARAIIYEE) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF GUILDHE UMITED ICONTINUEDI AUDITORS. RESPONS181unES FOR TrIE AUDIT OF THE FINANCIAL STATEMENTS Our objective5 are to obtain reasonatjie a33urnnce at*Jut vthether the financiat statements as a t•&hole are free from material missialemen( 7hthether due lo fraud ty error, and to ls$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 e￿Sts. Mi$5tstements can arise from fraud or ernor and are considered materfal rf. Indmdualfy or in the aggregate, they could reasonably be ey¢¢¢ed lo infyJerKe the e¢￿OrnI¢ deosions of usws taken on the basis of these financial statements. Irregufarities, indudlng fraud, are instances of nor* Totsl n•t a¥s•1• 1.260.71X 1.187.198 Charfty fund IthTestri¢thl funds 14 1,260,706 1.187.198 Ttstsl funds 1260.706 1,187,198 The Trustees a¢*novAeflge thetr TeSp0rbs￿IIth$ 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 comp￿reS 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 charit*Ae con1)￿Y ￿¢(w￿￿ted in England and Wales Ireglstered company nLmber 02600590, wIste￿d thaiity wmber. 1012218). The ￿giSte￿d 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$.' Statement of Recommended Praclice applicable lo charit6es preparing their ?rKounts in a￿Ordan￿ Tmih th• Frnangal R¥orbr4 Standard applicabk in the UK and RepLknli¢ of Irefand IFRS 102) leffecbve 1 January 2019), the Financia Reporting Standa appI￿a￿e in the UK and Rep￿1¢ of Irdand (FRS 1021 and the Companies Act 2006. Gw"IdHE Lvnited meets the defiiwWI of a p&)lie benefft entity under FRS 102. Assets ond li¥blrties ** initialty reco3nlsed at histryital c05t or transa(*on value unless othemse slated In the relevant accc4Jnting ￿lCy. 2.2 GOING CONCERN The Trustees have revte4bEd Ihe aT￿m91anceS of Ihe Chaiity con&der that adequate re%￿rCeS ontinue lo be airailable to fund the ath￿85 of the Charity for the foreseeable future. The Trustees are oflhe view that the Ch* is a golThJ concem. 13 COMPANY STATUS The company is a company Imniied by guafantee. In the event of the company being wound up. the liab￿￿ty in respecl of the guarnntee 1$ 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 e￿￿OrniG benefft to a thrrd party. it is probabk that a transfer of economic benefrts VAI be requ*ed In $etVement and the amount ofthe Ob￿gati￿1 can be measured reliably. Expenditure ts classified by acti￿. The eosts of eath activity are made up of the total of rfirtcl costs and shared Costs, Induding support cos18 invc4ved in undertakr'ng each aCfjv￿. Dlrect costs aitributat4e to a skngle athty are allocated directly to that acts'¥ity. Shared costs +••hlch contribute to more than one 3ciivity and Support costs ￿le￿ are not attrfbutabfe to a wgle apporticned between those aetivrfie$ on a basis consistent the use ol resource$. Centra staff costs are allocated on the basw of time $peni and depreclallon ¢horges allocated on the porbui of the asset's use. Expenditure on chaFit3ble ackn*1￿5 15 Incurred M dwecyy ￿￿ertthng Ihe a¥i¥ib'e5 *tllch fvrther Ihe crynpanl5 c*'ecbve$, 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 arnO￿t 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 ￿ltI￿n 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 #P￿le￿ 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 recog￿s￿ al ¢osL After recognitth. ufKler the cost model, taDSwble fixed asséts are measwed at cost less aeujmulated depre(iafion and any a¢¢umulat*d Impamient lo$se$_ Wl costs ￿CUrred to bn'ng a tangible fixed asset into rts intended vffjfk￿9 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 eslimatenllnued) 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 $•rV￿e$ 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 &wo￿slo￿ 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 *>Jiv￿Val Pa￿"r￿Patt.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 a￿￿jnI ￿pra￿lts contribth￿ns 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 l￿d$ 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"rn￿IY evaluated are based on histcfflcal experience and ¢)ther 18ctors, in¢kJth"ng expectalions of fulure e¥enls that are beb'eved to be re•S￿able under tho ¢wrJJmslan¢¢5. itical accountwig eslimales and assumpbcffis". The company makes eslimates and as$￿￿pilon5 C￿etm1￿ the future. Tr re*lting oc¢ounting estimates and assumptions *ill. by definition. seldom equal Ihe i¢lated acthal resuks. The estimates and •S5umptions tr￿t have a si9nfficant risk of causrng a material adjustment to the ￿ryIng amounis of assets liabililie5 v•thin th¢ n¢xt financial are disGussed beltr•4. Critical a￿aS of judgement". Pen￿On defidt &$b￿ty.. The Ch*ity h¥$ entered nto an *Jree￿￿￿l 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 ¥0￿m¢S ¢hange ￿ the fulure arrtl the disco￿1 Tate used vthith has been based on the rate of a high quality c¢vporate bond. INCOME FROII CHARrrABLE ACTivmES Unr•strl¢t•d l￿d5 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 Un￿stri￿￿. 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 Chari￿Ne ¥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 & $talionery Research & Cdabor•tiv¢ Proierts AcLommodation & event costs Other staff Costs 4.810 580.362 468,175 Pa9e 20 GUILDHE LIMITED {A COAIVArlY LIIthTEO BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENT5 FOR THE YEAR ENOEO 31 JULY 2021 ANALYSIS OF EXPENLXTURE 8Y ACTMTIES ICOIIT114UED) ANALYSIS OF SUPPORT COSTS Totsl Iwids 2021 Total funds 202 Depredation Travel daim¥ & expenses Subscrfptsjns Premises rent, fates & seThice ch*ge Maintenance Insurance Bank charges PFinling & stationery Postage & telephone staff iraining Sundry expenses Bad debts Profes&onal fe Pensl¢)n interest Governance ￿$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.$30 58,86S 289,440 317.240 GOVERNANCE COSTS Unmtricted funds 2021 Tot•1 2021 Audttors, renumerntion Aui*tors' ¢OSts A¢c4YJrtancyle¢s Wages and sa13rOè$ 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 EmplO￿r$, 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 $al￿e$ 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 aUti￿rity and resp￿$*￿￿ lor Flannin9. directwig aThJ controning the aC￿￿tieS of the Charity are consider¢d io be key manogement personnel. Total remuneration (induding emF4oyers nation•1 In5urnneÈ pensi￿) contrknub"¢)nsl for these individuals is £124.816 (2020.. £124.593) TRUSTEES. REMUNERATION AND EXPENSES During the year. no Tn￿leeS received any remuneralion rA other l)enefits12020- £NILI. Durfng the yew ended 31 Juty 2021, Tmstee expen525 have been I￿￿￿e￿I2020- £NIL). 10. TANGIBLE FIXEO ASSETS Flxiurn5 and Comput•r ffttlngs •qulpmènl Total COST At 1 August 2020 A&Jllions 59,959 14,375 2,778 74,334 2,778 At 31 Jtdy 2021 59.959 17.1S3 77,112 DEPRECIATION At 1 August 2020 Charge for the year 55.035 14.100 333 69.135 2,021 At 31 Juty 2021 56,723 14.433 71,156 MET BOOK VALVE At 31 Juty 2￿21 3.238 2.720 5.956 At 31 July 2020 4.924 275 5.199 Page23 GUILDHE UIAIITED IA COMPANY LIMITED BY GLIAIIANTEEI NOTES TO THE FINAMCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 11. oeBTORS 2021 2020 DUE wrtHIN ONE YEAR Trade debtors Other debtofs Prepaymenls and aCcn￿￿ ineome 10.75S 406 95 61,468 87.417 106,172 61,969 12. CREOITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 2020 rr* credilols Olher ts¥ation and social swjrity l)Ihef ¢reditors Ac¢wal$ and d¢leFTed ir1￿me 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 GUARAN￿1 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 EXp￿￿1¢ure 31 Juty 2021 UP4REsT￿CTED 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 ca￿1 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 reC09n￿On 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 V*ilh the ChaTity's membership ol Ihe Unlvewsitie5 supe￿n￿￿k￿ 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 t￿ditC￿5 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 t*lh 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 Gu￿d￿E Restarth members. •nd sir￿ltaneOUslY pro¥lde a model for the other smaller and l or speualist insb"iub"tins 7*ith ￿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• Expenth￿ra 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 l￿d$ 2020 Total l￿dS 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 a￿o￿tIng FdKy. the Chwity ho5 a￿￿ted for a Mulb4M￿oYer 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 d￿rge rewesents contr11￿On3 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 commth*nts 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