REGISTERED COMPANY NUMBER: 02600￿ IEngl•nd and Wales) REGISTERED CHARifY NUM8ER: 1012218 Financial Slal•ments for the Year Ended 31 July 2023 for GUILDME UMITED KrKJx CropFer LLP charte￿ A¢cwntants and Slatut¢yy AwlitcKs 1&1-155 London Road Hemel Hempslg&J Herttsdshire HP3 9SQ •Acwos• 1710112Q4 COMPAMES HOUSE #115 GUILDHE LIMrrED Cont•nis ofthè Finan¢ial Statements for th• Year Ended 31 Juty 2023 Relerence and Administrntive Det•1 Report of the Trustees 2 to 23 R•pc41 oftho Indyndont Audjtors 24 10 26 Statement of Financial ktivities 27 Balancè She•t 28 Cash Flow St•tornrrt N¢Aes to the Cash Flow Ststeme Nal•s to th• Flnancial Stat•ments 31 10 40 GUILDHE LIMITED RofèrÈn¢¢ and Admlnlstratlve D•talls for thg Y•ar Ended 31 July 2023 TRUSTEES Ms M A A￿eton Pn"rripal Ireggned 8.8.231 Professor N R Braisby v￿e-cha￿1kn & CIMef ExevJiNg Pfofessor K L Bwdn VI￿ Cha￿dIOr A P Kirkham ￿"ef ExècLrtNe A P Mcaaran ￿Ce-ChanCellOr Professor S Mcnamara Principavceo RevereFKI C P S Neil viC&Char￿l0r IresMJn8d 31.7.231 Professor K M Sloan VI¢x-CharKeHor ArKJ Ceo A Wheaton Prinopal Pwfs Wonna¢ott VI￿ (￿aTr￿1￿ COMPANY SECRETARY REGISTERED OFFICE Wolxwn House 20 Tavist(*J¢ Sware London WC1H 9H8 REGISTERED COMPANY NUMBER 026cQ5￿ IEr¥JarKJ and W*51 REGISTERED CHARITY NUMBER 1012218 AUDITORS Chartered Acccyjntants and StaluWALkthtors 153.155 Roaj HerTEI Hempstead Hertfordshire HP3 9SQ SOLICITORS 1W(Kxl Street Lon EC2V 7WS BANKERS LC￿dOn PO Box 1CQO BX2 1LB Chief Executive officer.. PAcKenzie GUILDHE UMITED {REGISTERED NUMBER: 02800591) Report ofthe Trustees for the Y•ar Ended 31 July 2023 Thg Irustee5 wh) we also d1￿clO￿ of the d￿rity for ￿ wrposes of the Conyarmes Ad 2006. present their We￿rt wth the finanaal sl*wnents of the th•tty year eth 31 Jufy 2023. The In)5tees have adopted thè prwsiws of Accounthng and Rewrlir*J by Charibes.. Statemert of Recomrnended Practth applicabse to tharities preparing their accounts in accordancè ￿ the Finar*¥ Repth"NJ Stsndard ap￿￿ab* irt the iJK and Republic of Irdand IFRS 1021 leffective 1 January 2019}. GuildHE is a recc¢Jnised le￿sentatIVe t(#Jy UK Hghèr Ethx*ion. Our 60 members a￿ unyversities, university ¢dkg8s. futher edU￿11()n collÈges arnl SFw¥isl institutior￿. MernLv institulions include major providers in lechnKal and professional subjeci areas such as art, de&gn and media. arNJ the ￿rf0Mling arts,. agri￿ltu￿. fcd and the naturnl environment.. Ihe buirt envimnmenl", education,. law and business.. he81 and sports soertè. FOREWORD GuildHE is a stron9 and FrtNerfvl advocate for the rfsb"n¢tKY) a￿1 dNersty of the h￿￿er edwtkjn sector. lobb￿9 on otAr behalf. winniTrJ add￿onal ￿sOurceS arKI sutwtiTrJ members in miL>l bway5. GuildHE has had an ac11￿ a￿1 successful year champK)nirKJ is$￿$ that our m8n*grs care atw)Jl. From highlKJhtiThJ Ihe burden ol regulaIK￿ though (yjr influ￿b"al I￿"efiryj series to ¢Jemonstr*"rwJ the impact of member knowled9tr ex¢h3roe acb'vity: and Ywtjm challer#Jir#J the ￿f0M7S io ieacher training, lo influencAng the develop¥nenl of the Nal*Jnal Student Survey, we have conb.nl￿ to advocate cffl behaifof ff£mbers. We have champ*oned the ImForf￿C6 of the divasty of the sector. helpirrfj to Se￿ITe continued QR furKlin9 for members. additsona ¢aFxtsI fvndKKJ and bjndiro for speo*i FerfwmiNJ arts i{￿lI1￿￿onS. We h8ve suppyt&J members wth thwr TEF sutmissions through regular briefiTrJs on key issues and buddyiThJ members to COn￿ents on draft sutxnissons; w￿lshing data and cas8 StLKlies on hcw memtws are taekling ihe climate crisis,. prDvidiThJ research on sttjdents. unK)n govemarrE and pr*ical resources for them,. and runniro a dodoral festival for PhD studen15. netsth ￿￿tr.￿js have been buser than ever. ensuring stsff ross your institution are able to access key InfrJm)ai￿n, feed in to cC￿SU￿atiCn responses and share pr&ts"ce ross instituth￿s. Our Annual Q￿fe￿nce was eX￿llen1 event, w(YKlerfully 1K)s￿d by yc￿ St John University, and gave opportunities for our member5 to meet diststss issues solutions. and hèar from speakers. induding Paul 81omfidd MP, Professor Dame Jessica cO￿￿r (Research Er￿J1a￿1l. John Blake (Ofs) and Hannah Sheehan {DfEI. This èvent. alLYwJsK1e our quarterfy Council nwtiwjs and f￿hty heads of ￿stIl￿tIon onlne ￿￿efifi9, ensu￿ Ihal membws are blief￿ on the key tssues ofthe day. I have pulled out ￿t a faw of examples of ihe excellent that GuddHE have been undertakir¥J on your haff and I hope you wdl r¥J the rest of thts rerrtyt lo explore Ihese Ot￿ is$￿ in rn¢h more detsil. I'm sure that you will fThJ the ierth hetpftl aTrJ hope thaL rf ¥K￿ld like fiJiher infomatKJn about our vK>rk. or aro inlereste(J in findiNJ wrwe at#￿1 n￿l￿$t￿p. yw V*ryll (X￿13¢t us. Anthony Mcclaran. Chalr of GuiklHE P￿e2 GUILDHE LIMITED (REGISTERED NUMBER: 0261JOWI Report ofthe Trusle¢s for the Year Ended 31 July 2023 INTRODUCTION This annu81 report shows we have taken f(￿ard the wioriDes we identified last year In a￿aS incluthro equality and divefsty, the skills li￿line key iThJustry sectors. the Teachirg ExCe1kn￿ Framework and the dispmporbtsnalè cost and burden of reguLgtwJn. 115hows we have worked ￿ I$￿S of immediale concem GuildHE mernbws, like tl* first adrThssiws cyrle since 2020 where GCSE and A Levd grades went back to the pre-pandemic apkxoach. and areas ￿ere we are SUFS*XtiNJ men*•rs ts the k)rh3 temi. like the dimate criss. It begins by highlighting our key athieVe￿wIs, d8nw)n*ab￿J succe￿ in all areas of the GuldHE siraiegy, and then looks in mcKe detail ai our w(yk acxoss a series ofttEmes. 11 covers wè we4* with and SUFfKJrt ¢wr membws irthdry IlwwJh a wde rar¥Je of merter nets¥0￿s. And it shtrws our investment in imwovirrfJ CAJr communicakn.ons capacrty is helpirrfJ us better hvJhlight the a¢hievements of GuiklHE member5 and ￿￿bU￿onS tlw make to econom￿ growlh and to sustaining healihy, ¢reatW8 and vibrant bcal communit￿. As a representative LW. GuiklHE has le¥￿nSi1￿.hlIes lo the HE seclry wthty and this repurt covers activiti'es in area5 like teaching quality and slandards, free speeth acaYemK govemance 8$ wdl a5 through our work as a company member of many of Ihe sector agences. The ftport looks al tyjr work will) the govemmefrt. irthirg hcAV we are conlributiro lo detsiw design that is crucial to ma￿r¥j a success of krge Sca￿ r8fom)s like the Lifekjng LeamirKJ Entitlement. It also describes our rnajor projert. shwro tKMf hvj￿r regu￿￿ cyxjld be reforrr*O lo be more offective. propcrtionate aNI a¢¢ountable. We wovide d8tail on worf( and suFport provKYe(1 by GuikJHE Research. includirvJ through the tjcctoral fsstwal. wr woth on research integrity. Sha￿ seNces ancl Ihrough a numbw of ev￿1$ and workshops. We also Cover the work of UKADIA in SU￿￿]ng specialit arts education irKludirrfJ t￿￿￿9h strerwjthening our rdationship wth Creatsve UK and ￿91r￿j wllabty*"Ms wth other rJeati¥e hoher edL**in ¢Nganisalws. Finally. we rew)rt on tyjr work diredty ￿th stL*Jerts. irthknJ itswJh sui¥#Ntiro goV￿￿nCe in studentsl ions, and our engagen*nt wlh wder s(KW. Gordon McKenzle. CEO P¥Je 3 GUILOHE UMITED (REGISTERED NUMBER.. 02600590) Report ol the Trustees for the Year Ended 31 July 2023 OBJECnVES ANO ACTIVITIES ObJeetlv•s and aims The Ch8rity's cme c*pcts. as set OLrt n its V£nxrnidum ofASS&￿, a￿." . To promote and improve hb3her edLtrcatMJn in the Unrted KirrfJdom and elsevthere in direct fvrtherance of the alld missions of Corrpany members ty thè pronK•tion of disoJssKJn cxlr6ulta1￿. the f￿￿Ulat￿n of pol￿eS a￿￿ the wovigon of r&presenlab"on. thice and ass5Iar￿e. The aims are as fc41(Ms'. • Mambers: To proNide an excellemt seNce for memters. . The h*Jher educal*Jn To work *Mlh our members Io SUFPCWt an effef*ve infrastructwe f(¥ UK hvJher educalk)n. . Students.. To ywote excellent audent er*Jagemert. experieThx arKI Outc￿ as ts heart of a qualty UK HE se¢l¢r. . Govemment.. To infom and UK h￿her F#*y and Fvzc*ce. . As an organisa11￿.. To be èn intelligent. Ilexible reSP￿s1¥e organisalion. The strategies empbyed to acwe ts Chanvs ams aThJ obie¢tsve$ to: . H￿NIght the Im￿tanCe of a divew. inknnalh￿ally %ttessful higher Sector. . Make the case for a propty furd8<1 higher e(lucatim system Ihat alkms a therse rar¥Je of insbtulKffis to thrivè. . Infiuence thinking on higher educ*"on legisL*"on and Ihe futttre regulatson of higher edueab"on. . I￿fiUer￿e the devdopment ofthe TEF and deciyons aly)ul the fu￿re of Qvalty Assurance. . Make thg case for Korvynic. ujhural and contritr*Jtion that intemational students make to UK. . Champton the rol• of hKJher edU¢alK￿ as dose partners ￿ industh.es (le1￿￿9 hvJh quah'ty, work relevant. high Kgvel sknlls and wofessby￿I &JucalbJn. Page 4 GUILDHE LIMITED IREGISTEREO NUMBER: 02600590) Report ¢fth• Trustees for thè Y&¥ Endod 31 Juty 2023 OBJECTIVES AND ACTMTES Si9nlfi¢ant actl¥tties The signthcant a¢b"vilie$ undertaken tr* peric#J *we.' . Meetings wth Govemment.. 141 . Meetings wth Sector Agenoes". 504 . Chrect 1-1 member cals.. 118 . Mertwvisits". 56 . Sector events altended.. 173 . Policy briefings and GovemThvrt consullati¢)n responses". 41 . Fortn1th￿Y VC meetings.. 24 Key Achlevements GuildHE conducled a h￿jh￿ infl￿nts31 campawJn hNJhlightirvJ the dispropylionate o)sts arKI burden of regulation for srnal* hgher edu(2tKJn lnth.tut￿ns. This indudert the RwJulallc￿ Briefiro series, oJr call. with others, foT a Parfiamentary ewuiry into the woth of ￿ Offi¢e Students (Otsl and our evide￿ lo the Hwse of Lords Indvstry and Regvlatorsf Conynitiee enquiry. We commissioned and published research on Ihe Wnpxt d knth￿ exthaNJe fuTrJing al memter insb'lu¢ions, demonstrab.ng the KNJth"ve dINer￿¢* il makès to Ilwr Kical irxjuslnès arml communities. We set wl commendatK)ns fcx a fwrer and mre 5u*ainable ft￿lIr￿J Syst￿ to maximise the impact of smaller institut*?ns on UK scriety aThJ ihe eowKJmy. We built on ¢Jur wuk demonstratiro the rot*Jst qualty and staTrJards of UK higher education sector Ihrough our joint wort on aCad￿1C govemance arKI a$sUrar￿ AdvanceHE. the Committee of University Chair5 ICUC) and UnNer5itEs UK IUUKI, runniro three roun&table discussicffis. a disseminalw￿ event and bloJging on the topic for the Higher Educalh)n Pofjcy Instilule IHEPII. We highlighted the importarte ol in￿"al tèacher trainir6 and Il* impact of the teacher supply ￿rtage Ihrwgh our eVKIe￿ lo the Hcw of Ccffimns Ethjcation Select cOn￿rttee, cyJr Jcint Te￿•r Education Sumrnil ￿th UUK and in our fole as secretarial oflhe UUKJGuildHE Teacher Educatth Advisory Group. We produced a report on how merrt)eTS are ta￿l￿g Ihe ckmate crisis. drawirvj together survey dat8 from men*ers and a numt*r of pra¢1￿[ case Stud￿$ of how crtjr univer5ibes and CA)l* have teen respondir%J to the ¢hallenge. We support&J ujr members and th8ir ￿ents6 unions on ts devdOW￿t of thwr TEF submissions, running briefing SesS￿nS arKI pairiThJ insbtubons to (￿S•Je[thty"r sul)missi(yts. S￿CessfUllY argued f￿ conb"nuation of QR fiJndiTrJ streams fr* Ethar￿9 Research Cullure and Part￿lp￿tOry Research. We eryJaged closely I￿1h Ihe review of the Nabonal Siudenl Survey INSSI resE*)nd￿g lo the OfSI consultth.on and influerring the di%ussions as part ol the NSS Advisory Group. . We published researth and template mat*ials to SUFWI swdentsf uniorts to enhan¢e they govemance. We ran a well attended and snteresh"ThJ AnrNJd Conferew at Yc*k St John University, where we i*scuss8d the cosl of living challenges f¢y students. wulatyon. researth and kncrthethJe exchange and politscal worities fcf higher educ*"on wilh speakef5 from the OE. Researth ErKJland. ￿ DfE and wilh kyJIit￿Iar￿ and think ks. We SUFPOrted membets with wular fortnbahty VC calls covering a wide raroe of topics including M)liti¢al aThJ polry developments. the stste of thè regulatory laThJscape, sedcy induslnal regulat#￿s. social enterprise. Inlemational higher educat￿ and finanoal su5tainablty. We argued for greater sector involverr*nt in develo￿"￿ ts Lrfew LeamirwJ Enbilement ILLEI, resultir¥J in a new sector taskforce on the 1rrolemenlali￿ of the LLE ¢)Ih GuiklHE ar¥J GuildHE Resèarch has beèn developèd lo convey a vibrant organisaknon, refreth'ro the sjesign of exislii¥J u)Llateral aNJ provKJiYvJ a *eries idenb" to ￿eS of documents suth as If* Guik1HE Regulab"(m Briefings. GuildHE seeks to infomi and eroage wilh the politKal debate through variws fTBthani5ms, indudirKJ our.. Policy briefings and govemment cOnsul￿10n responses. Ctyrtx"ned. our CoMp￿hen$￿e Pc4icy Uwjate reports. congJltstw respJnses ￿ membws mwh"ry3S to tal￿ cNeT ￿. GuildHE has strongty advocated for regulalory irrprOveTh￿I durir#J past yew bwth a series of influential briefing5 that were part ol our written submi551W to the House of Lcwds report into the work of the Office for Students. We also played a key lo￿ in the went launch of t1￿ Creab"ve Education Manifesto and launched our reports on Ta¢kling the Climatè Cri*s' and 'ExFertise in Aclw: the Real WoTld Impact of Knowledge Exchange FLmding', both for￿ng on the eXperien￿S of smaller a)d speaalist unNeNties and college5. e have created a nuth of 8nti•ism EDI t**firos for members. wth wKle rar¥Jirg tOPiC5 in¢kJ¢Jing Equality of Outcomes in th8 WthpLace. Disabled Sfvjdents. LGBT+ Sbjdents. Kn￿￿eth)e Exchange. Paje 6 GUILDHE LIMITEO (REGISTERED NUMBER: 026005901 R8POrt of the Trustees for the Year End8d 31 July 2023 OWECTIVES AND ACTMTIES GuildHE fortnlghlty ￿￿￿￿51e￿•r o)ntinLeS lo perforn exceptionally well against sedor ￿en rates and engagement rate5. We have intrthluce(l a nèw p￿18mentary Update se(knn lo wr r￿Ular Gont9nt lo ensure members a￿ provided wilh Ihe lalest nthvs in Goyemmenl in an easy-tO-vEw lomwl. StroThJ calls to actron for consuliati¢)ns ¢venls have ddivered qualty feedb￿k Irom members and goc4Y registration numbers We have 17un¢hed a nèw Equalty, Diversty and I￿￿USIOn neW￿etter. fealuriro lowcs of interest. resources and events to both GuildHE and Guik4HE Researd) membèrs. The A*￿sletter has also featwed ihe Wndrush 75th AnnNersary and Black Histrry Morth UK whilst sh(A¥ca5irwJ the contritxrt1￿S of members. GuildHE LlnkediD and GuildHE Resewch Llnkedin charwK15 have eXperw7￿￿ 5ignifitxnt uslng an overall communication5 Strategy to inuease fdk)wers and the introductim of rnore planned a¢tsvity an¢J dynamic, engaging, Shareab￿ content. GsJildHE Linkedin has experienced a 50% inc¥ease over the past year. followers now ￿athir￿J nearfy 1.QW and the GuildHE Research Linkedin has abo grown Si9nrf￿antty. GuildHE Twitt•r IX) and GuiklHE Resèarch Twittw IX) ¢hannels have rem￿￿ed fatrly static in lorff￿ of growth and engagèment, ￿MarilY due to charyJes at X and tr* Mvjrallc￿ of IcAb>we￿ to othsr platlomts, SLKh as Link&Yin. GuildHE folkjwets starKI at 8.6￿. GuildHE media ¢overage and blogs. Irrreased actmty. dèvdoping relab"onships wth media. and workiro with partner organisath)ns has resutted in sWJnffj￿nl covera3e in both national and sedor press. sector call I￿u￿1n9 GuikJHE fty an investgation into OE featur&Y in nath(x)al pre55 including Times, The Timès HKJher Education plus Wonw and Research Profess¢onal. GuildHE Chair Anthony McCL7ran gave evidence lo the House of Lwds induslry CA)nynittee inql￿ry inlo Ihe wor* of the Ofs. which was streamed ( Parfiament Live and GuildHE CEO. Gordon McKenzie Ihe EDSK think-lank podcast lo explore different ways that a ILrture govei nment COLld furKI hgher edu￿tion in EroLqnd. The GuildHE le8m has written five hKJh profi￿ HEPI bkgs ovw the yew. Topics Ir￿1￿je g¢)vèmirvJ tr￿19$ and academic quality, the climate crisis, the impad of krMy•Aethae extharoe ai smalSeT Sk)eck?list institutions. lessons from Austfalrd the regulation of ETrJlish h#Jher edLtaticn aThJ an art￿le by our Deputy CEO. Alèx 8ols featured in Ihe HEPI AJ)nivef5Wy Cdwicffl. a ffoior colkthn of c)d g0Vema￿ in students. un*)ns and resulted in a number of templates for job descfjptlCffj5 for students. union staff. agenda$ for meelings and other materials to suppKM rr*mbers. Fr•• Spwch and EDI We pU￿1$he￿ a pint statement cn proffKJting ac*rn￿ freethyn ar￿ f￿e speech in Qktoter aongside UniveNties UK. AthanceHE. Committee of Unr¥usity Chars and Ihe NUS Charity. This followed our joint project with knanceHE and UnNefSities UK which induded five sector-wide rryJnd-tsNe sessions looking * 8cadeThK fre￿orn, lea(1ership and governan￿, HR iswes. EDI arKI Ihe irryaca on stLHlentslunMins. We also bbbied around Free S￿¢￿ Act, SF*Jke at a sector-v￿d8 confererKe and wovi¢J¢d briefrngs and presentstKsns f¢y membefs arourwj the iThplicali￿s of ts A(a inGludiNJ ¢on5idering the Wl per4xltves at a Friday aft¢M￿ VC ¢all wrth Smila Jamdarlrom Shakeyare Martineau. As part of our EDI pro9ramme we Jso: Published 4 briefiNJs tr member5 issues th5*Jei1 sludents, LGBTQIA+ studw*s. Equakty of graduate ouio)wEs, and EDI in knovAethJe Excharoe. Launched the EDI newk as a ¢ollaLYxabvtr sp¥e fry shariro kj*)￿ledge aThJ experttse and devel¢)ped a new EDI ne￿￿etter and Oicy update. Worked with OIS on the development ol Ih*r approxh lo APPS and Equalty of Q)portunty Flsk Register, a new corMlitNJn of registration ffi H8oSsm￿L and the Dtsabled Stwlent Cormwion Instrtuttonal ComnNtmenl. Publsshed tsvo acajemic p)ky papws fw Emer* Putltslws on the GuiklHE approach to EDI and first in f8mty student experiences. Intemally GuildHE staff are ￿￿tin￿1￿j wth regukr diswssions at%Jut inlemal cuhwe and how IIE values of our organisalwjn are iefiecied in our work. EOI is port of au stallls plan in some way - either comecting with sectora¢twity wthin Ihwr particular exFerttse ty dèlwerirg oulputs diie¢Uy to memtws. P&Je 8 GUILDHE LIMITED {REGISTERED NUMBER: 0260059)) Report of th• Trustees for the Year Ended 31 Juty 2023 OBJECTIVES AND ACTIVITIES E¥￿tsIN Annual Conferen¢e The December GuiklHE Annual Ccmferwce. h05ted by Ytyk St J¢)M Urmvuwty Icgether memtws to disctjss key issues i￿auding a livety discussin on regulati￿, insMJhtful $essti￿ on polrtical priorities. ihg challenges of the cost of livlng and atrfxrt fmm the rw Research Er¥Jland EX￿j11Ve Chair. Professor Dame Jessica Cbby for a rwnslated student rnaintenar￿ grant for the F*X)rest sludwts. Adm5sslons polky This yaar was thè first aknNssh)ns cycle since 2020 whwe GCSE and A Levd gTrdes wenl r)ad( lo the prwandemic approach. We engaged with ofqual on ¢IE cOrrwr￿n￿ats￿ of this ar￿ the iry3Ct tFy's might have on universty ￿cruitment prnth"ces. Thèrè was also erwemenl vAth UCAS on a review to Teacher References and applicant Personal Staterrenls. As part of the UCAS .￿rneY to a Million. prc*Jrarnmè, GuiklHE had an essay published on the way in whth smaller instrtubons muhl resp)nd to increased demand. We have also errfJaged in a nw of woth at DE on in(xeagrvJ Ihe nLwnteT of Care4X￿enC8d sludents to access HE. Skills pollcy Lffèw LeamirvJ Bill is Currently 9tyr¥J thrwjh p￿larnent wlich wll creale a credit t￿d 4)proach to student finance. We have been woJkn'r#J wth OfE to gjprth the devekjpment of pol¢ies wtrw¢h imple￿1 thi5 bill, includiro cctrchairiTrJ a new taskf¢)rce on LLE iMp￿￿￿tati￿ wlhin HE. We have been cKntinuoLtsly engaging with IfATE and DE on Il* rdloul of HTas and Hgher leveVDegree Apprenticeships and have started ntrw skills ne￿Ork for n*mbers to engage ￿ Conversa￿1$ (M) slwre wa¢ts"¢e. Home Office Regular meeb'ngs with Hryne Office have taken pjaee. as part of Iheir Educabon A¢knsory Gr￿p and 5uWroups di￿jSSIrQ various elements of the visa 5yStem KKluding questions around the maintenance review. irtreasng the hearth gJrchar9e arK1 ETAS. We have reinvigorated ojr lrtemalw)nal Nets￿(￿k wilh a chair and run severnl meetir¥Js to feed into Ihese dis¢ussions and topKs such as trE TurirwJ Stheme l¢JJtsvard stLTrdent mo￿lity scheme), emerging Intematio￿ stud￿1 recwitment markets. risk managernent. due di1KJÈn￿. intÈmab"onal agènts and stratègy. ubllc Affa*s Cost of Llvlty R¢port In March, The AkParty P￿liaMenlary Group for st￿Jents thw"r irY4wy into t￿ inwacl of the cosl of living uisis on students. GuiklHE submiited eVKIen￿ on behalf of members. The irKJLiry wa5 led by Paul Blomfidd, MP for Sheffidd Central, with whom GuildHE have an es￿ished relab'onship. support to how rrEmbers reS[￿ded to risng costs. The rewl cfjrKguded Ihat most Students We f￿lYj ￿nffj￿ant fmancid wessures. with some swup5 partioJ[ar￿ hard hit, whth wl ac?JeM￿ ￿JiC0r￿S and path"pabon in the extracurricular a¢twities at risk.The report conduded that imme(l*le finanoal assistarKe, through irKreased hardship fvndiro and ￿$toring maintenance loan entilements we rteded to hdp Ihe enti￿ stLvJent tthy. P¥10 GUILDHE LIMITEO (REGISTERED NUMBER: 02600590) Report ofthe Trustees for the Year Ended 31 Juty 2023 OBJECTIVES AND ACTIVITIES Office for Students A Westminster Hall debate on the Office ￿ Students, secured by Lat￿J1 MP Emrro Harty in Awil 0$￿ssed Ihe need for effeCt￿Ve wulation. Emrna Harty ￿ferent*d GuildHE'5 first fegulats.on brieffru in the debate Ihè burden ￿aCed on smaller Fwviders. how Ihe 0￿, approach is target&Y I￿ardS larger 1nsbtuttt￿5 and how Ihey have not adopted their approach 5malkr insb"tutK)ns. Thi5 GuildHE'$ release ol fve regulation briefiThJs in the context of Ihe Industy and Regulaiors Comrrmttee INuiry into work of Ihe Office for Students. Thè inquiry a Joint frrm GuildHE. University MlsanGe. Russell Group and Millth Plus. Chair of GuildHE. Anthony Mcclaran gave evNJenr* to ihe irquiry, drawirrtJ on his eXper1er￿e$ from when he seryed as CEO ofthe Terbary E¢knation (￿arty and StwKlwtsAgerw (TEQSAI in Australka. Party Conferenc¢s GuildHE attended bcth Party c£fflf￿n￿, holthYJ a ioirt dinner bmth Minion Plu5 al th8 Labour Party confe￿nce with Matt We51em. Shadow Minister Hohw E(kFGab"on. TopKs * the dinw includsd inlèmalional stud￿ts. the retraining of adLdl& $I￿ts wt trme Fjbs. vahJe f(r ffffiey, and Impact of higher educal#)n outside of graduate F)bs. GuildHE, al￿9￿¢ Unwyty ￿lianCe an evwl at Il* LNwk￿l l￿titijIe tr PwfThmiTrJ Arts ILIPAI supp￿1 of the #ArtlsEssential Creaiive Educaiion Manifesto during the Labc4Jr Party Conferen￿.The manifesto was written by the c￿at￿e Educati￿ Coalition a grwp ol ¢NganisatKJrts from th8 huher education C￿atiVe seciors who Jxned forces dtjè to a share(J rAyKem ab￿ IF* future of the ¢Te*ivè talenl pipeline. The evenl hatl ovèr 100 attendees, wrth GuiklHE board rrember. LIPA I)Mef Execubve and Pn'ncpal Sean McNamara speakiro lo guest5 lyl the iMmr￿e ofthe ¢yeative arts. General Election Piior lo January 28th 2025, a genw* electr￿ wtll hekl. Gu￿¢HE is busy erwirKJ wilh polib¢ians ar*J political parts.es ahead of tr￿1r manrfesto developrnt processes. As part of the lead up to the election, GL5ildHE will work on a series of rrllni manifestos. focusgrrfJ on areas speofic to our member& The siralegy sets cKrt GwldHE's pr￿1[￿3 and 81Jions thead of the next Ger￿1 Ethtion. The manrfeslo focus on key asks frorn the fuiure govemrrEnt. H￿tter Educat￿ Flays an essentk?I role in oevek)￿ng people. equipping them ￿th kTh)•Ag*e. 5kn"Ils, curiogty and ¢Jeatsvity and equippiro ihem for Ihe changing worfd of Work and GuildHE's manrfesto ￿11 reflecl thaL GulldHE Research GurfdHE Research is the researth ¢tYtsoJt"ffti ftx sm*r and ￿T¥￿￿tieS and col*s in the UK. The consoitium had 32 mernber5 in 2022r23. Professor John Strachan. Pr￿v￿cha￿dIOT (Resèarch arKJ Enterprise) and Oean of Graduate College at Bath Spa UnNersity continue11 as Director of GLwldHE Research. Along with chairirrfJ Ihe Resèarch Leads nEetirvJs John has attended Seri￿ sec*or meetirKJs on Walf of the c￿SOrtsum, representing GHER in the UKRI Task and Finish Grthjp ty) Horizon. on 81itish Couwl HEI Sector Group. the JISC Cw Access NegotiatirvJ Group, as an AmbassadN for Association of Commonweath UnNetsrties: along With his team at Bth Spa, he F4ay8d a pwotal rob at ￿ inaugural Doctordl Festival. PaJe11 GUILDHE LIMITEO (REGISTERED NUMBER: 02600YAII Rèport of thè Tru$tses for thè Yoar Ended 31 July 2023 OBJECTIVES AND ACTIVITIES Stratsgl¢ and policy support The consortiun has ￿tInued lo wovide rrernbers ￿th SUFWt on key policy drivers. Rèsaarch Integnty is central to that wort, derTh)nstrated by wr rc4e as a strjnatcry to the Concordal, contribubon to the Research Culture and Practicè Forum, and *1vising UK ComThth l(Y Research Inlegrity commissoned research into institutional annual stat￿￿￿ts on int&Jrity. GuildHE Research also ￿aYed an advisory role fly the Concordats and Agreements Review, and raised the wofile of trusted research agendas with members. Imputanty the C(x)￿turn has Corrtinued to deliver a sub group on Re5earth Deg￿e Awarding Powers, JpportirrfJ menkners Ihro￿Jh sunifK3nt c￿￿e in the qualty assessment Processes. rai&ng issues with the Office ts Sltjdents, and wothiro to prC*J￿S instilubons¥ aPpI￿￿onS through peer excharvJe and intelligen gatheriThJ. In addition our work on Research Cijtture hdped ￿enIfy usefvl ingghts whKh were shared wilh the secior Ihrough thè Goo(J Practice Exthar¥Je for Research Cutture. The ￿Sorts.uM advocated for mwytss. interests ￿ rese¥th al￿ assessment. OngoirKJ eThJagements vAth the Future Research assessment Projramme leam led di￿tty to changes seen in the expecl8b.on of next asSeS￿ent exercise. REF 2028. Guik1HE staff surv)rted membersb application5 to the second round of th¢ ExpandirvJ Excellence in Ervjland IE31 fvrKling ¢(Kn￿b"￿"0n, providing additional bri&fing$ and wothshops, and Ikqi5iTrJ with Research ErrfJland ￿ common thallerrtJes. Regular meetings wth R￿arth Eryland, UKRI, thè Royal s￿ety, NCCPE arK1 olhèrs underpin llis work. allowiThJ GuildHE Stsff to raise issue5 arisiThJ Ihe ojnsorbum and wovide fe&Jbadt. E￿nts and workshops The folk)wing key events were hekl f(* n￿1b￿s.. Quarterty Rgsearch Lead5 m￿￿"r￿S featuring 5reaker5 frryn NCCPE. Elh￿al Joumalism N9tt￿rk, UUK. and UKRI- . Research Culture Cafès f￿ ECRS, Prinapal lnvt5b"gatc￿. Research Lèads and PGRS., Trust&J Resear¢h aThJ the NatsOn￿ Sw￿rity and lnid1￿eft(* L￿1￿atr"￿ - RÈse¥¢h CA)l￿borabOn and Atfvise Teams, Department fu SCIe￿e Imovalion TthJbJy', • Outputs Repository Training." • Expandin9 Excellence in En¥and Roundlable.. . Three meetiryJs ofthe Researth ￿ree AwarthNJ P￿llerS subgroup, induding SeS￿onS V•ith Ihe Ofs,. • An introduction to the Coal￿"0n C￿ thancing Re5earth A55e55rnent ICOARAI. GuildHE Research was also featu￿ in the fdluthrvJ put4￿ eV￿lS.. . UKRIO Webinar- Research C￿Te. En￿rOnments and Accountaknty,. Session on SupF4)Tting Research Integrity al the Research Cul￿￿ p￿#1(8 Forum, a yjint initiative by th8 Concordats to sUp￿t Research Integrity Career DeVelopr￿1 of Researchers. D￿tara1 Tralning and Supp¢xt GuildHE Researth used 2022-2023 to reflect on ￿fresh ils offer f(x postgra(luate research students and earty careef researehèrs. The consorfo'Lwn expanded Ihe sludent inrthaled and S1￿Jent-1ed peer cohort that had ih up over pericxy of Com&19 by fcYmali%ng it as thè GuildHE Research PhD Peer Support Community 8nd using targeled communicatKJns to OFen up the comrwnty to any l￿rgraduate research student acr055 the consortium. S(pported by online pLaifOf￿ts - Jiscrnail and Slac4[ - community grew from c.30 to over 130 students. Monthty Sess￿￿$ ¢onb"nued to be ooanised and leo by student volunteer5 A￿'e Calms, a doctoral candidattr al NO￿lCh Univw5rty of the Arts. and Ph"Ily lgbhart. dcthl ¢aThJK1ate and Inw Officer at Mao"¢)n University Plymouth. Tcycs covered I￿udg￿ ￿sIS writwu. researth researth impact. record keepirKJ, and caieers after ccffipletion. P•Je 12 GUILDHE UMITED (REGISTERED NUMBER: 026Q05901 Report ofthe Tru$tees for the Year End￿ 31 July 2023 O&JECTIVES AND ACTIVITIES The inaugural GuildHE Research Docthl Fesb"v¥ was held at Corsham Court, Bath Spa Unwersty. on the 24-25 April 2023. 29 docioral St￿enIS from 13 institutrK¢s parbtt"pated in the Festival, wilh speakers from I Campaign fc* su.e￿ and EroifieeriNJ, Welthrr* Cdlects"on. National Ccrf)rdinating Centre for pU￿*C Engagement. and the KnovAethJe Excharge Unrt ai Partiament. Cdleagues speualisiTrJ in impact. ethics, arKJ searcher development at Bath Spa UrNverW also gave preSenIat￿S. and alumni from ments instilulion5 were invited back to give ￿lleCbonS on t￿lT eXcer￿ceS posl-PhD. In ￿ GHER spirrt ol collegiality and collaboration opportunitie5 to convw * nehvort ttscwhoul the event, au speakers stsying to fa￿11* group dis¢us&ons. To SUFWt tt* ongoiThJ develOF¥)￿llt of (￿r FKOVISi￿ for Ilc*aoral students GuildHE Research has corNened a working group of ￿￿￿bers. The group a(1 as a I0￿1$tOne for de(a"sion makirMJ and help the team devise appropriate content and feedbad( on wocesses so that we oAimise partvpab"on. The wukirKJ gr￿P indudes.. Abbie Cairns. PhD Candidate, NrThK* UniveNty of the Ajls Jennifer WfwJht, Academic Practice Oevdoper (Researchl. UnNÈrsty of Law Prof. Debby Cotton. D("rectorofAcademic Practice. Mafjon Unryer&ty Pl￿T￿rth Prof. Jane Williams. Head of Researth, Hartpury Universty Philly Ricketts, Impad Officer aThJ PhD CandKlate, Marpn UnNersrty Piyft￿h Dr. Lee Miller. Head of Post9r￿ua1e Re5earth, FaI￿Ulh UnN¢r SharÈd seThi The 5eivices offered to n*nlJers are". a Research Rewgkny. managad by CoSe¢tor.' an Impact Tracker, SUP￿led by Hw¥e Ifomty Vèrtpao Vwbtutssl: an online PGR Trasning PrtrJramme. man>¥d by Unwersity of East ArKJlia,' arK1 Ihe Researcher Developrn￿t Framwork Planner, supplEd by Vitae. Three instibjlions joined ￿ reFQYtLYy in 2022-2023 - UCEM. Unrvergty ol Lw. ano ￿he8$¢8M University London, taking overall nuft*ws to 16. Ctrseclor cwb.nue to delNer a very costeffe¢live Serv￿ for the consortium and provKled a tBning Sess￿ plus tranir*J materials within ihe year. GuildHE Research is also exploring the possibilty of a Research Dats Repoytory wth Cosethr which can interoperate vAth our outruts re￿￿910ry, arK1 provide NEmbws wilh a shw&J sp￿e for ¢)pen research data, in Ihe anth¢ipation of indu>on of resear¢h data in frJKlers' Op￿ access ￿ul￿ts. UKAD The United Kingdom Arts arKI DèsvJn I￿llIub￿S Assc(3ath)n IUI(ADIAI is a group of speualist arts desgn institutions from awss the UK'S hbjher ￿ fvrther e£ll￿tThi seckns. This year we reuuiled kn) new m8mbers, University Ihe CreatNe Arts aTrJ It* Winthsler Sthool of Art and developed our inlemath)nal rdationships wth Austrah'an ats asS(Kiab"￿$. We are also devekwing (yJr rdationship with the Fed*ab"on ol Drama SdMY)ts. We have continuod lo work collatK)ratw8ty ¢Jther arts organisalths to conbnualy advocate for the imFurtance of the arts lo the UK e￿OrnY and ￿ heatth aTrJ wellbeirKJ of its ob"tens. This indudes a ¢Th)linued strengthening of our re￿tiOnShIp wth CreatNe UK. arKI ACE to empha>se the importance of specialist institutions to the arts talant [m￿line. We have also authored a joint cTratwe edu¢atK)n coalrtKM manrfesto wilh other HE arts provi¢Jers linc1￿1r￿j Univergty Alliance, CHEAD. CVAN aThY Lonckn HtyJherl lo wovide narratwe as lo why ￿aiNe ed￿al￿on al all kvds is imtmknt to invest in. ()Jr conversalKms on f￿dIng have ulled in addttional funds bw.ng made avalalk ty th8 Ors 1£￿ S￿*t ats provKJws lo develcp tlv"r offer to sbjdents. P￿e 13 GUILDHE UMITED {REGISTEREO NUMBER: 026005WI R•port Oftho Tru$t¢¢s for th• Year Ended 31 July 2023 OBJECTIVES AND ACTMTIES UKADIA memtws have continued lo thbatKxate in Access and Paticipth'on. with a pint Teacher CPD prc%Jramme fulty (Ipw*"onal across UKADW memL￿5. UKADIA havè also tt)mmisgoned a raport on where creative graduates find empkJyrr£nt aThJ strwwthenirKJ eThJagernent members have wilh alumni. This will be p￿iShed in t)e¢emLv 2023. Spe*ers at our Board have I￿uded Ntha Di Luio. Deputy Director of the Scth?l Mobility CommissiC￿ and Evelyn Wilson Co-F(xMM1eflDirect¢y, TCCE rrhe cUlu￿ Caprtal Exthayl a￿1 Co-Directrv. NCACE {Nab"onal Centre for kademK and Cultural ExchaThJel. orkln wlth the HE soctor Sxtor ag¢n¢ As a Cunpany Men*)er of rnany ofthe sector &je￿leS (Advar* HE, (W HESA UCEA aTrJ Jiscl we appoint nominees and obseThers lo their Boards and closdy vAth them to better LThlerstand the needs of the hiJher edu¢alw seclor 8nd to undwbke collaborative work. The Office for Students Ov•r the last yew Gwk1HE has run a mapr woJo¢1 regukb.cffl ¥vJ regu&W burd8n with a seri8s of briefirtgs Covering wulatory dup1￿￿.0n. legal dimensions. wulath.ng ￿ the Sludent inleresl. worf¢J-dass regulation as wdl as published bk4Js on data burden. This was overseen by the GuildHE member adv¢sory group. W¢ wrote. akJngsKle Russell GfOUP, Millton Plus and the Uni¥ersty Aliance to ParfIan￿nt to call for an Inquiry into the Ots and folbwiro the e5tsblishment of tr* Hcw of Ltyds lThlustry R¢9uLkn Committee Inquiry. gave both written and oral evidence wilh our Chair. We 5pc4(e on regulation and burden at ￿ tharKWE PVC r*twLJ* In NoveTr*er •id folknvirg a session al the QAA Internat￿al quality aJencies r*ts•KKk we also sp(A(e in a staff meeting * QQI Ireland. GuildHE have regular meetings wkth the vwicws Ots stsff to discuss these and other issues. We responded to Ots consultatrons indudirpJ.' . Inveth"g8b"on Fètrs rA)nsukakn and met Sève￿ trnes the OIS on this isgje. . NSS CC￿sU￿at10n and sat on th￿r Ad¥iscry Grwp * Harassment and Miscondud * Aryz55 and PartJcapab"on Plan5 . Specialist Prowdei Funding Meihodology Quality Assuranc• As èvèr, qU￿lty assurance has bèen a ma￿Y of ￿ chwKJe &tivity ts GuildHE over the past year. s has I[K4￿.. Ofs DQB advlty . we have rrEt witti the Ors on several O￿a$￿)n$ lo disujss their wwles f¢y t)MgirKJ DQB 8(Itvty in-hou se arKI pulled tcwier Ihe GuildHE response to ￿ DfE OQB cwsultation. Ots Consuttations - we reSp￿ded to Il* OfS4 NSS cor6uMation in A￿Just and a￿anged Several member roun&lable discussions as wdl as allendir#J Ihe Ots NSS Athsory Gr(wJp. We also several meeliTrJs and comrnent ed ￿ the draft ofthè new W DAPS gumdan￿. Grade Infflation - we spc4(e at Sever￿ confererw ￿ grade infiab'on. In¢l￿￿1r¥J. as part of the QAAis 25th Annivers￿, HESPA* (HE strateg￿ Planners Assc4Jation) annua confererte, a WestTrNnster HE Forum ¢onfèren¢è on qual ty aThJ an Ir￿￿le G0vemm￿t cOnferer￿ on B3. 14 GUILOHE ￿lTED (REGISTEREO NUMBER." 02600YJOI Report of the Tru5te•s far the Yeor ErKled 31 July 2023 08JECTIVES AND ACTMTES UUKIQAAIGuildHE Staterngnt on UK￿ld• and intemal quallty iyoeesses - fo11c￿l￿ the inibal pU￿lShI￿a. deletion and then re-woth.ng * puUishirs of the UK r8Julators ststemenl on UK-wh18 qualty processes, we have been w0￿1ng vnth UUK and QAA to develop a more hdistic stslement on UK-wde 4)proaches to qualty I[￿rporatIrY￿ the instrtution4evd processes. th 15 was published in September 2023. UUKIAdvanceHEICUCIGulldHE academic governa￿e WO￿ . we have tsk￿ fomard our worf( on gr•Je infialion this year by frKusing on enhanoNJ academic govemance. rk rn¥lv4V . ￿ were a mwnber of knanceHE athsory group on remgng the Professional Standards Fran￿(￿k. was LaU￿d in Janu￿. feediro in vws of membèrs )d ensurèd tl* pint ¢opyrNJht of GtJiklHE {akry wth AdvanceHE and UUK of this key pie¢e of sector raslructurel. We also held rgJuLw Well-atten￿ rMetwvJs GuiklHE Man&JeTS Nehwrk n*thgs and DAP NèbYoJk mee￿.￿j5. Data Futurès *KI the DtSign•ted ￿ Body HESA has rNJw formalty merged wth JISC and JISC has ncmt become Desgnated Dats Bc¥Jy. Thi5 year Data Futures has been operatKJnath'sed fty the fvst b.me and we have teen bvthitvj wth ffembers to u￿erstand Ih8 new process8s and (xKling manu*5. We have been wortry wth m8n*ers thrw our Regulatw briefiThJ$ to tham￿0￿ a streamlined approath to dats collection across thè sector as thèrè is currentty a k)t of reguw data burden aThY overfap in Ihe Current appr(Mch. To this erxl we providèd èwdÈntr£ to the Sècretary of Stste on data l)urdert and have lobt4.ed lor the nlroduction of the mini%lerial tasktorrE ￿ ler11￿Y dats. A¢ce5s, admls$ions, the student experienee and sludent support The Office for StLKlents tfrNs year ¢onsuMed rm a rwi approach lo A￿$ and participati￿ regulation. We sponded to ￿ con5uttatiffi were invdved in the deVelo￿nI of lh8 E¢wality ol Opportunities Risk Register. We supported merthrs to UnderSt￿d the rL*Af requirements fty APP. whth w fwses more evaluation and stLvJent success lrnther Ihan just outre&h and and have devebped rdatiortships wrth the Ofs funded WhalWorf(s? Centre for Transfonning Access and Student Outcon*s ITASOI. We Sobbied suceèssfully f(x the regvlatorfs approach to recognise the resources of W￿ller and s￿lalISt providers when roviewing new APP plans. Trcwh our UKADIA WP sutyJr(MJP. we have ensured (hat there is ci)ntinued collaboralive WP activty to sukwrt Sctr￿ tsa¢her CPO, awwj this prC&¥￿ meets the new APP requirements. We have also been SUFw1in9 Kmnl serts lotty'NJ on ts deluThJirvJ of 8TECs #proteetstudentcfK)ice campavjn. Membefs recnjit many sludents wth BTEC and other qualffications other than A-Levels and so this is an imF*Manl campaign ts us due to the Cor£eff￿ wth Ihe replacEmwl T Level qualificab'ons and the pol￿tial knoth ￿ iryjact on eqvalty and diversity. This ye* student experience iSSL*S have irKJuded ts iise in cosl ol li￿g, a cortsuhatton on th8 new condition of regislr*"on on Plarasswent and Sexual MiscondL￿t, a sector r*s￿nSe to student drug use, moftilorirvj the impad of the renters refom bru St￿)ent housiry and wcffkiThJ collaboratNety with the DIE Studenl Support Chamrmon Prof. E￿8[(1 P￿. Through our nets￿rks and polw iwiefiThJs, Ihere has been supported collaborakn and praclice shariNJ be￿aen our ffwnbers. e5[￿laIlY ar￿d exlemal suppcKt for miscondLLt investigat￿S and merrtal healt￿l￿.￿j Fffadi¢e. Paje 15 GiIILDHE UMITED {REGISTERED NUMBER: I)26005901 Report ofthè Trustees for the Yèar Endtd 31 July 2023 OBJECTIVES AND ACTMTtES èarch E Knowledge Exchang& Fundln9 GuildHE commissioned in(kFEndertt HE researclw. James Ransom. to conthxt research inlo the impacl of kn￿edge excharoe fijndiro fcrf GuildHE members Ihat do not rewve Higher EIAJGation Imieslmenl Funding IHEIFI from Research Ewand. Sirte 2011. smalkr. speLaalist and pract￿trIed insirtutions have not received liexible, fLxmula lundiry ts k￿￿ge exchaTrJe adivitss. In 2021. as a ￿11 of implern*nting govemment efforts to *Juild bad( betterf after Ihe panderric. Research ErolaThJ provided arouThY k200,000 of fundin9 Fer institLttIc￿ for krThAed9e èxtharvJÈ. WÈ t(x* this opF¥xtunty lo col*t case studies on the impact of this fundirYJ. condLKt an experimental anatysis of the iffpacl of adjusts"r¥J t1￿ HEIF fmula to student numbers as a proxy fu size. This dèmonstrated that rather than *ffec*veness' being recconised in Ihe funding formula, was often thg size of th¢ insbbJb"on. Smal* insts"bJtK)ns have le￿1 students, and theref￿e less resource across many universty functions. espeaally their knC￿e1￿Je exchange. inrnvation ryvic missions. The report follows the premous yearfs Buildiry thè Jwjsaw report on piace-based knrrthedje excharoe interaction and Guik1HE inslituticfjs value lo levdliry and iathirvj wonal w]ualty. Th¢ repJ1, Exwtsg in A￿￿. was putAish&l alorvjside a blcg on the H￿her Educatson Policy Insbtute's {HEPII website a5 part of the tsurKh. GuildHE continues to meet with Research England and UKRI on subject of sustainably fundirKJ krKwAed9e excharKJe and inrK)vation at Smal￿r, specialist and pract￿e4ed uniVers￿e$ as part ofthe reC(MM￿"0nS in the ￿￿￿*1. contribu￿￿9 to Policy Development and Implementsii¢n GuildHE Research has been ac￿Vety erKJaged in groLry)s. l)elpNng io shape pol￿e8 and ￿ng fresh perspecb.ves lo lunders WIK) value the ￿sIghts on smalkn and specialist unwersities and em8rwt research environments. The groups indu¢Je'. . UKRI Forum fe0rt members. Student Enga9•ment GuildHE has been Conlinuiro lo provide thice guKlarKe to Ihe ors on their Studenl Engagement Strategy, and have representatson on the Ofs St￿1 P￿91. As part of our regLlation sories we pU￿lshe￿ a ffjport on the stwjent voice In regula￿n. Policy handbook Once again GuiklHE ￿freshed ts PdKy Handtwk ts rmv SU off*m lo help better understand the HE landscApe. This publicab.on has been very well re(£ived. and instiiuiions have also f(xJnd it a helpfvl indudion tool for new staff. both I￿r n￿rn￿e￿￿1P and beyoTrJ. widw soci Teacher Education Initial Teacher Education has been a rnaTr)r pl￿￿ty over the past year following the Governmentls Review of the ITT Market and then th￿"r consUllab"￿ on the outcoff*s. This indudèd submffting written evidence to the House of C(¥nmons Education CorNr*ttee Irquiry inlo Teather Reuuitm￿l GuildHE provides Ihe secretarial of Ihe lo￿1 Univer5iD'esUKIGuildHE Teacher EdL￿tIOn Advisory Group. Nganisng a number of meetings itxluding a wKder Teach8r Education Stsnmrt in June. Th8 meetirKJS also heard from key rethnl organisations . DIE, OfSTED and NFER and diyussed a number of key i￿UeS ir*luding recruitment. ￿8¢ements and the ne•V OtsTED framework. Cllmate Commlssion far Further and Hlgher Education Over last year GU1￿HE has surveyed member5 on th•"r actwity rdabrvJ to taG￿l￿j the Climate Crisis. repeating th& suN8y Irom 2021 arKI provKlirwJ hdpfvl data on progres5 over the last 18 monlhs. This data was published alongstde a nunthr S￿￿[e$ in a report in the Skry arnj was accompanied by a HEPI tAog from Chair and g(￿ sctial rrEdra errfJa9errent We jointly run the Climate Action Group wrth UUK and also ¢cnt￿ve lo regularty wth EAUC. Aoc aThJ Universilw UK lo discuss nt areas ofwork. rlorllles for 23r24 In 2023124 GuildHEIs wk will bè themed armmd six *eas: * General Election . Insts'tutional financaal SU5￿"n￿￿ty . ReguI*"on . Students . Research and Kn¢yMedge ExthanpHaces * Member-foojsed G•neral Eleclion . Tro $howcas¢ the value of h5gher education to the UK and Influe•Ke polltieal ￿￿1•5 P•3e 17 GUILDHE LIMITED IREGISTERED NUMBER: 02600W) Report oftho Trustees for the Year Ended 31 July 2023 OBJECTIVES AND ACTMTIES ahead ofthe next General Electionv ShwasitvJ disb.nthe conln"txJts"on of GuqdHE insthtLrtK*is lo teachiNJ. r8seai(* and wi(Jer society induding [hro￿h the TEF oulcomes . Develop a GU1￿HE M8nrfesto Futwe of UK hTrJher edwtk)n with rrdnHxanifestOS OA {al creative education, Ibl teacher educat￿. Icl LLE. skills. technical educat￿ and app￿t￿ti1Ps and Idl plac& lo defflonstrate the importance of Sp￿alist instrtutions to the future th"IIs ￿￿eline Demonstrate that UK hvjher edwa1th￿ 15 well govemed. at4e to vjenlify arKI address areas of r•Jncern 8.g. free sp8ech. grade innation aThJ govèmance, fra￿hIs8 provision and thè dimate crTr51S Institutlonal fina￿1•1 sustainability "to champion a $tsble •nd $ustsinthle HE sèeior highlighting the p(thrtial impact of th• ojrrent financial settlemenv InfluenciThJ govemmentls deusions cn hKJlw ed￿4th)n fin*rrfJ with the aim of ensurirvJ fair and SiIStsinabYe funding fix quality teachiThJ respL¥ • Influencing govemmentls firture Fdiaes on internati￿al sbjderts staff Ensuring a finanualty sustainablè arwoath to ref0M￿ of intèm)Èdiat• tèchnical and iyofessional oualifi¢ation5 and the develoW￿t of d&Jree apprenliceships Regulation "to argu& fr•r a rtrgulalory systwn that is frt for puwposè that supports instituiions lo succ•edV Makir4J the case a new regulaw r￿at￿ OIS arKI oiher reguL4tors. infiL￿ncing ￿ Cabinet Olficefs Publi¢ B(*Jies Revv . EKplJre the regulat￿ imF4icatiorts of a Terbwy sectr¥ or a r￿J￿1 deVc4ut￿)n sewerwt. Supwrt menthrs wrth tr* delivery of trwr regulalory acts￿￿ Isu¢h as APPS) •d er4Jage wrfh Ihe evelwient of new regulatuy ccrtitions. Students "to support stud•nts •ntsr and sucued in GuildHE institirtionsy . Carnpaign to ensure a fairer Student finwoal system Supporffjng tr8nsib.ons to fwg)er ¢du¢aliw ￿ sttht wellteirKJ and mental health Fyovisicffl in ffwnber I[￿lit￿bOnS . supporb.ng members dev*1 rrve indu5ive ¢arrwsès Research and Knowl•dge Exchange o show¢asè thè impact of rtsearch in s•Nller and specialist institutionslP Eroaging with ￿ levethng-up agenda, pcacEs ￿ Vplace" reknnl res¢ar¢h. kr￿A9￿?9 exchange and skills fwding discussions the aim of ensuriThJ thg cOntritr￿l1on of smalkr institutions to IWAI grcrt￿ is rery4nised and fairly funded P&Je 18 GUILDHE LIMITED IREGISTEREO NUMBER: 02600￿) Report of the Trusteès fortht Year End•d 31 2023 OWECTIVES AND ACTMTIES . Publish Tesearth into the irnpacl of smaler arKI 5wryali5t mSitt￿on$ into their econLynic impad Supporting instrtul10r￿ on rese¥ch arKI d￿0p1¥j an ￿d￿sive resewch ujlture and the development cl REF2028 M•mbtr-fr￿tsSed to understand our members and focus on their wioritr¢sr . Undertake merrthr re5e•r¢h to identsfy owrent Stren￿ and areas of deVe￿￿￿t of GuitdHE acaNty Develcp an enhanced nRrrt)er benefft systwn so that men*ets ￿ trad( th￿r ervJagerrtnl wlh actNit￿ arm1 th&'r value . Elevate national urKler5tsrK*ryJ of imwt thjr memt*ts make throwJh our enhanced o)mnMJThcations Slraiegy. Public benefit The Trustees have wa¥ed Ihe activitss of Chaiity n the I￿t of Ihe PLkn1th9d by Ihe Char Commission on publi¢ t*nefit. The Tru*ees sab5fied Ihat GuildHE's ac¢Mtbes are for public beneffil. GuiklHE prtsv￿•S wbli¢ benefft to tPK)sÈ plannirKJ to undertake, those undertaknng and those with an interesl the outcomes ol UK hHJher education as a cor6equertt of the as9sta￿e rt gwes ils mèmbers institutions. Through th8 direct advu. inf0m￿li0n an¢J convnent it F￿VIde$ into tt* pU￿1C domain and into frameworks. it infonns t￿ public debate aTNI raises publ￿ awa￿ne$S of 8 wge of edUcatK￿al and other proftrssionally-bawl issve5 al Subject levd. By SUFporiiTrJ ￿ heads of inStitut￿s, it enables them lo ￿ad their chantable and edL￿trOn￿ cvganlsalj￿S more effedivety. As a consequ¢nce Guil(JHE has an impact on the delivery of higher education through go￿ pr￿"(e exthaThJe arKI adw'ce on policy. Tl* OTgar*sations that GuildHE rnémbers ￿ad prts￿dÈ a rarge of hvJher educatKJn (Pp￿ttIn￿.QS to students from thè UK and al￿d. and Ihey have putjic benefil irrpacts the DJtturJ. soaal and intdlecbjal d￿el0[￿ÈnI oftheir¢Dmrnmilies. STRATEGIC REPORT Flnanclol posltion Most of the Charity's income is obtsired from ￿rr￿¥ship SLtscriplKMS. thB use of wtrich is unr85tricted to paiticular purwses. thjring thè yew ended 31107r2023 ts Chanty received Idal of £1.021,837 aTrJ inoJrred tcéal charits￿e expenditvre of £969,233. The nèt inconk fty IhÈ year was £52,604. Actuarial k)sses this yew were £50,021, bvhich ￿lateS to the defin&l berEfft pension scherrE liability. The net nThement in funds kjr thè year shows a surplLrs of £2,583. At the year end th8 Charity h•J lolal reserves of £1,1 53.635. Reserves are neede(1 lo brid9e the gap b&￿een the swidtng and reoiwng of income to wver unpfanned r¢pair5 ar￿ other exrenditure. These funds are held for the ￿efit of ffembers aTh1 frnancial 5UStainalylty of GuildHE in meeb'rrfJ curTent and future obligations. indudiro any pens￿ def￿ wsir¥J from GuiklHE* m&)kn￿1P of USS. Inveslm¢nt policy and objectives In ordef to minimise investment rtsk. l￿dS are retsined in an nterest pawng depw"I xcouftt and a proportion pl￿1 wth Hantjelsbanken to achieve an imrmed retum ￿ I￿V￿1 assets. These investment arrangements are kept under dose fevie•4 by ts Ex8oJbve Gw. Tolal irw)JrrE from all investffents for tr* yearlperitxl ended 31107rd023 £12,514. PwJè19 GUILDHE LIMITEO (REGISTERED NUMBER: 026005901 Report ofthe Trustees for the Year Ended 31 July 2023 STRATEGIC REPORT Financial review Reserves policy The TnJstees have set a rosorves rdryvA)ich ain5 kr. . Reserves to be maintained at a kwej whth enwfes that premises and &affiThJ c￿5 of the ¢xganisalion's Core aclivity continue duriro a peric￿ of unforeseen dIff￿lty. . ReseNes to be maintained in a readify reakn"5*e fomi. . Any s￿￿U$ reswes over this of funds lo be desw3nated the rePL￿rne￿t of assets and support of the ￿elic￿ of any GuildHE sIrateg￿ pr0￿Cts. . Underfyiro und¢signated resefves will 5UkWt Chartses cgmtinued r[￿rt￿lip of the USS Pensic S¢hen*, 8nd the undeftyiTrJ def￿1 in that scheff The calculation of t￿ required levd of reseNes is ￿ integral part of the organiSat￿'S planr4rBJ. budjet and forecast cyde. It takes ￿10 . Risks assooated with each stream of irKome aThJ eXp￿MIlture bet'ng i*ffwent from that bjdgetèd, . Planned activity levds. . The Charity's ccffimitment with respect to staffing an¢J lease costs wthin the financial year. . The penson lithlty share thal w￿1 be altthJtsUg to d)Jrty 1hrO￿Jh ts M￿Y￿l￿P of Il* Universit*s Superannuation Scheme (USSI. The Charity had rK) reseNes in deficit as al 31107r2023. Going concern The Trusiees have revithved thè ¢ir¢umst¥Kes of ￿ Charity arKI that &equale rex)ur(%s cont¢nue to be available to the activ¢ties of ts CWI the f¢)resee&l￿ future. The Trustees are of the view that the Charity is a goirrtJ concem. Principal risks and uncertainties The prinopal risks faced by the C*arity are: . Finanual risk- loss of member5 . Repulatronal risk- loss of influertt C￿ poN media relaty.ons ¢thanges in irrelevant . Operabcmal risk- t￿SinesS c¢￿tsnUity issues indLithJ office . Inlemal controts- FIna￿la1 or system errrys Financial and risk management obiecli¥es and policies The Trustees have a risk managem￿1 stralegy whi¢h (x)mprises: • Rggular r¢viw4 by fv Exewtive Grr¥Jp to i¢Jentify risks aThl mitigatirKJ act￿￿$. Inlemal risks are minirr#sed by the irylementstion of prctedures for auihorisabcn of all transactk)ns arKI wopcts arKI lo ensure consislenl quality of delivery fc* all operal¥Jnal asFecls of the ch￿. Key a￿S of rtsk and new 0pp0rtunrt￿S are inlegr8lèJ irto the rgJuL¥ tr￿sInesS ofthe EXe￿tive Grw). • Fulure forecasts have been reviewe(l arKJ anaty5i5 undertaken of altemattve lundir@ scenarios and responsès fcrf rniluat￿ of any waiNe effects. A detaikd UF*Jate of health & safety and 85S0CHted risk assessment Icoether with related issues lakes annualty, ￿n(￿aken under supemsion of Stallard Kane who act as'coryeient person" GuildHE. GUILDHE LIMITED (REGISTERED NUMBER: 026¢J059Q) Report ofthe T￿￿te¢S lor the Year Ended 31 July 2023 STRUCTURE. GOVERNANCE AND MANAGEMENT Governing document GuildHE Limited is a company limrte(I by gu¥antee and dr￿ r￿1 have any share caWI. M is govemed by its Memorandum and Artides of AsSC￿lat￿)n. It 'ts registered as a charity vrith the Chan"ty c￿￿Mi￿on. Details of the Twstees who served throughcrtrt Ihe year art in Ihe RefUer￿ aThJ Administration Details. M•mbers' 1Sabillty Each member of the CharitatAe Company undertakes to cc¥rtribLrte lo ts asset5 of ts Company in the ev9nt ol il being woun¢J up while helshe is a mèmber, or Mlhin one year after helshe ceases to be a rrember. suth amount as may be required rK)t exrAediro El, fty dplAs hawigs contraxed before they wse lo be member. R•erultment and appointhMrt of lyustees The Directors of the Company are also ch*ty Trustees for the purposes of charity law and are kr¢c¥wn In the company's Arti*5 as mèmtws of the Executive Group, Under If* requireN*nts of Memorandum and Artides of Association. the ExecutNe Group shall co￿lst of tl* Chair. Chairs, three membets eleded to the Executive GrrMJp and merTthrs ctropted lo the ExerAJtive group by the existing Executive Group. Al members a￿ circulaled wth invrtaltsxs to lthe AGM and as vacanues ￿r. advi&ng them of retiring trustees and requesting rbyninations. Ewed Tnjstees serve fty an initi'al k)eriod of thw years. Electeil Trustèès may for two tMseuJbve twms of three yÈ*s but s￿1 serve at least onè subsequent year tsefore further reappoinirnent lo the ExecutNe Grcrtjp. When ￿￿dering truslees for cooption, Ihe Executive Group has regaid to ihe diveNty of men*er instibJts"ons. If a memter of the Executive GTOUP IS e￿ted as the Chair or a I￿alr. trw the atrf)vè b.ms limts SWI extend8d to allow (x)mplelion of Ihe p8n￿l ol officg. Organisatimal structure A Council, conststing of all of c￿•y, rr*8ts fajr trns pw year and 15 nvrhed in major deasions and policy approval, The Charity afKJ Company i% administered for normal business by ils Boartl of Trustees l Board of Director5 comprisrwJ ihe ExecJJtive Group, whth n*ets sx tsmes per yè*. A Chh?f ExecutNe Offi￿r a Company Secretary are appot.nted by Tiustees", preserttty ts)th ro*s are undertaken by ihe same person. Induction and training ol new truste95 The training and induth.on provided for new Tn(st88S dgpend up)n their existing exwrignce bul would a￿vayS include a tour of the Charity and a chance to meet other slaff. Al Trustees are PTowded with copies of lues, procedures, rrunutÈst accojnts. tXKlgèts. p￿nS and other dou1r￿S that will need to undertake their rde as Trustees. As there are nom)alty onty two or three Trustees a year, induditsn tends lo ￿ done informally arKI is tailored sp￿￿ThIty to the 1ndN￿val. (hganisational StrLKture. A Cwrril, consisb'ng of all rnembers of the Company, meets ff￿Jr times ￿r year and is invrAved in mai)r d￿S1OnS and p)Iw approval. Th• Charity and Company is adrrMni5tered for normal bugness by its Board of TnJstees 1803rd of Directors, comprigng the Executive Gr￿p, ￿lch b"rrEs yew. A ChEf Execubve Officer arKI a Company Secretary are appoint&Y by the Trustees. prew)lty both rotes are ijndertaken by the person. Key management The Board of Truslees have devdved resF￿s￿l.1ty for day to day marwjwnenl of trE Charity to the GuillHE office team led by the Chief EXeQrt￿e OffKer. PwJe 21 GUILDHE UMITED {REGISTERED NUMBER: 0￿590) Report ofthe Trustees for the Year Ended 31 July 2023 STRUCTURE, GOVERNANCE AND laANAGEMENT Related partlos N￿e of Trustees rewe remurwdtw or other benefft from th•'r woth wr(h the Charity other than mbur5ed travel expenses. CVCP prope￿.e$ FIC is Ihe landk)￿ for Ihe premises used by the GuildHE offi￿S in Cèntral Lon(*x). GLMldHE part ￿ its Oir￿e to ￿ clwitable (wmsation Drdma UK until November 2024. Su&3S￿lations The wort( of GuildHEs SLtsaSs￿lationS continued in the 2022rd3 year. This included GUKSHE Research Iformerfy a5 CREST - Consortium for Researth ExCd1en￿. Swrt and TrainirKJl and UKADJA (UK Arts a￿1 Desw Instituti￿S A$s￿lat￿}. STATÉMENT OF TRUSTEES. RESPONSIBIUMES The tnjslees Iwho are also Ihe dIreCt￿S ol GUI￿￿¢ knmrted f(x wrpw of ¢ompany lawl are feswnsible for p￿paring th8 Rwrt of tr* Trustees and financ￿1 staterrenls in aC￿[dan￿ with applicable law and Unite¢Y K¥¥Jdom Attounl'ng Stsndards IUThted Krydom Genernlly ALxeptgJ ￿£￿th"r￿j P￿ct￿l. Conwany law requires Il* trustees lo prepare finarKaal slatements for eath financ#al year which give a true and tsir view of the state of affairs of the charitatle ¢orroany and of the irwmiThJ ￿soUrCeS aThJ appI￿a￿"0n of resour￿$, includirYJ income and expendiiure. of the charitable oynpany th31 perioy. In preparirrfJ those fifianty￿ ststements. the tru51ees are requir&J to sè*t suitable atxjunb.ng kxli(ies and Il*n apply ￿￿￿st￿Ity.' observe Ihe ￿EthodS aTrJ principks in the Charity SORP., make judgemenls and esb"mates thal ate rea5￿able and FXud￿L state whelher apr4i¢able aCC￿nIirwJ stsThYards have folk*v&Y, subied lo any material deparlures disdosed and explained in the financkal ststements: epa￿ the financial stslements ￿ the gory (xwm basts urkn il is inaFwopriate lo pre￿Mts that the ¢haritable company wll Continue in iwiness. The trustees are reSP)n&b￿ fcr kw.ry FN)8r accxyJ)liNJ whth wih reasonatdè accurncy at any b'me ffinanci¥l PM)sib'on of tr* chwIlab￿ ￿rnpanY and to enab￿ lo ensu￿ that the financial stalemenls compty with the Compankes Ad 20C6. They are also respC￿sible fu safeguarding the assets of the ¢haritabl8 company a￿1 hen(% ffx tr￿.￿J rÈwnablè stèps prèvenb.on and detection of fraud and other irregularibe5. In so far as the trustees a￿ ￿*.. there is no relevant aiA1it infrxmaD"(*) of ww the ¢haritabbe c(Mnpanrfs auditkys are unawarè", and the trustees have laken all sleps that tw 0th3ht to have laken lo make Ihemselves aware of any relevanl audit infom)alion and to eswish that the aLKJitors are awa￿ of Ihat informatK)n. AUDITORS The audrtus. Kr￿ clcpF￿ LLP. ￿11 be FVCP)s&J for re*aFP)intmenl al Ihe fOrt￿Mir￿ Annual Ger*ral Meeting. Page 22 GUILDHE UMITED (REGISTERED NUMBER: 02600590) Repoit of the Tntsttts for the Y•ar Ended 31 Juty 2023 Report of the Iru5tees. ir CO￿￿n¥ dweCt0￿, on ...... .. rporating a strateg¢ r8POrt. approved by order of ￿ board of trustees. as U and srgned on Ihe boarrfs beha￿ ty. A P Mcaaran. Trustee P•Je 23 Report of the Indynd•nt Audltoys to th• Membws of Guildhg Limited Opinion We have audited the finaTrial statements of GuikJhe Linwted Ilhe '(*wtsble ¢onwany'l the ye* ended 31 JUEY 2023 vthich conwftse Statemwrt of Finanr#al Athiues. the Balartt st￿1. the Cash Flow Statement and notes to the financ3al statements, I￿￿dIng a sunNnary of sKJniftant aCcoUntir￿ pdioes. The nancia rewrting framework thal has teen aFWigd in tr*ir preparat￿￿ is law aThJ United Kingdom Accounting Stsndard5 Iuniled KirEth)m Generalty Awled knxJnb'rvJ PractM￿l. In our opinion thè finar￿lI statements.. gNe a true and fair view of the State of ihe tharIt*1￿ cc*mpanVs affairs as at 31 Juty 2023'arKI of its incomirvj r8swr¢es aTrJ of r8SOL*COS. atNJ expenditure. ts the year thon en(Jed.' . have twn Fwrty ￿ePared in ￿0Ndance ￿1h United kn"ThJth)i) Generalty Acrepled Accounting Pra¢tke', and . have Fwared in a(X0rd￿ce vnth Ihe T￿1reMen1s oflhe Companies Act 2￿6. Basis for opSnlon We ¢o)ducled our ?￿rt in aco)rdance wrth Iwrtematwal SlarKJard5 on ALKfitirKJ IUKI IISAS IUKI} and applicable law. Our responsitylibe5 under those siandards are further descn.bed in the AL*Jitors' reSpon￿bilitIeS for the audil of financ#￿ statements sec*on of ￿J[ repo￿ We are independent of the charita￿e company in a¢wrdance with the elhical requirwnents ttBt are relevant to wr audit of the finanoal 5tstements in the UK, cluding the FRC'S Ethical StartrJ8rd. and we have fvAfilled tyjr other ethical resF*)nsibiltyes in accordance with ihese requirements. We believe that ￿ a￿thl evKlerts we have L4)tainÈ(l is yJffioent aThJ appropr￿te to prowde a basis fcfj OLtr opinion. Conclusions felatlng to golng concem In auditing the finanoal statements, we have cortluded that the trustees. use of ts gc¥rKJ cOr￿ern basis ol a¢¢ounting in tf* Prepar*bC￿ ofthè ffinancial swemertts is appropriate. Based on the wort we have pwfrymed. we have not identffied any material Un￿rtal￿Fe$ relaiiThJ to event5 or ¢ondilions that, irxlNidually or colkctNety. may ca* s9nffi￿nt dwbl Il* tharilable company's ability lo continue as a going co￿eM fcy a WILXJ of at knt from vthen ts finanryal ststements are authorised for issue. r responsiblities and the res[￿5•￿411￿eS of the trustee5 wih resFeCt lo gow concem are desuibed in the relevant sections ofthis rewt. The twstees are TeswssLle fw the otheT informat￿. The olher informaiion comprises the information included in the Annual Report. other than Ihe financ4d slatements aThJ our Retx)rt of the Independent Auditors Our opinion on finanoal ststements do•s not covw thè ottw infomwts￿ and. ex￿p1 to the extenl othervjise expltitty slated in cwr ￿￿rt. we not exkxess anyfcth CAassu￿e c￿d￿$￿￿ Ihwin. In Connecti￿ with our a￿lIt of Ihe financial statements. ￿$￿i￿lity is to read the other inforniation aThJ. in doing so, consider whether the other informab.on is mHleIi*ty irNTh5i5tenl wth the finanaal statements or our knowledge obtained in audil or oiherwse appears to be mataialty ￿Ss￿led. If we identify suth material inconsistencies or apPar￿t maleriJ mtsstalements, we are required to delermine whether t￿S gives rise to a material misstalemenl in the finanryal statements themselves. If. based on the work we have perfom)ed, w8 )nclLx1& that there is a materia misstatement of t￿$ other inform*m. we are requir&Y to report ihat fact. We have nothi￿ to oport in Ihis war(J. P¥Je 24 R•port of th• Indép•ndenl Audilots to Ihe Members of Guildhè Limited Oplnlons on ¢)Iher matters prescribed by the C•nles kl 21106 In our opinion. based on the work und*ken in ihe oyJrse of the a￿￿•1. the information given in the Report of Trn*ees for the finanoal yew wlich the fin•)cial 518lemerts are wèpared is consistent wrfh the financial stalements: and IF* Rewrt of TNsiees has t￿n prepared ￿ aCcCrfdw￿ wth ap￿tible legal requww)ts. Matters on wthich we are required to report by ex¢eptkni In the light of the knowledge and un¢Jerstandir#J of the CA)mpany and ils en¥1￿ment obtained in th8 course of Ihg auijit, we have rn)t i¢lentified malerial mksstalemerts in Ihe Re￿rt olthe Twsiees. We hav8 noihirvJ lo report in re5pecl of the foM¢JwvwJ matters Ctsi)pan￿ AL# 2tTh reqywes u5 10 report to you if. in OLW 0￿r4￿.. adequatè ac¢outh"ng re¢tyds have Th)t been kept or rdums adequate for our have not been from branehes r￿t visited by us.. (x the finanoal slatements a￿ not in a￿een￿l with the acc¥irtry rec(*ts and Telum5', C cèrtain disdosures of trustees. remunerat￿ specAf*d by law are not made; or we ha¥e not re¢aved all the Infom￿￿￿ exKAana1x￿s we r8quws fty CWT audil. Respon$ibilitle5 of tru$tees As explained MO￿ fulty in the Ststement of Tw5tees' Res1x￿t￿lE5. ts tnJ51ees (vtho are a150 the dredors of the tharitabse company for WJTposes of cfybpany lawl #re ￿P0￿ble f￿ ihe prepwation of Ihe fin8ncwI statements and f￿ beir¥J satisfied that tw give a true and faT"r ¥￿w. aThJ fof SLKth intemal C￿￿t￿l as the trustees deterrni￿ is neossary to enab￿ rwwation of finaniya statwnents tt)at are free from malwial misststwrnnl, whether due to fra￿ or error. In preparing the finanaal st*ements. trustees are fesponsl)fe fty a&%e5yny charitabkn companI5 ability to continuè as a goir¥J ¢ortem. disdosiThJ. as applicablè. matter5 rebted to g￿ThJ concem and using the 90ing e¢)ncwn basis of accKJuntiThJ unless the trustees either intend to IiquKlate the chan"table c4ryny or to cease Okvations, or have no ￿alISt￿ altemth but to do so. P¥25 Report of the Indep¢Th￿nt Audit¢rs to the Memlxrs of Gulldhe Limit Our respon$lbllitie5 forthe audit of the financSal statefftents Our objectives a￿ to obtain reasonatAe aS￿ra￿ atojt whether the finan(2al StaIeff￿nts as a whole are free from material n¥sstalemenL whelher due lo or error, arKS lo issue a ReF(Jrt of Independent Auditor5 that include5 our OF*nion. Reas0fta￿e assuw1￿ is a high ￿Ve1 of assurancè, tKrt is nol a guarantee that an audit conducted in accofdance wrth ISA5 (UK) will akvays dètect a mate￿￿ misstslemenl when il exists. Misststements can arise from fraud or ernjr and are ccffjsKlered malwid rf. individually or in the aggregate. they could reasonably be expecled to influerKe the eC￿nC￿￿￿ deo"sir￿S of usws tsken on tl* basis of Ihese ffinanoal stalemenls. The extent to whth SY￿￿re$ are ¢ap*)le ofdetedwty lrrngular￿es. indudiNJ fraLKI is detsikd bekyw: lThegularitses, induding fraud. are inslan<%s of n(KKom￿iaTr￿ with laws and wtJlalK)ns. Vve design procedures in line wth ow responybililies. ouuined abov8. to delect rrisststeTT*nts in respect of irregularities, irKluding fraud. The extent to ¥￿h cw procedufes are capatle of de￿ng irreguLaritses. inclu¢Jin9 fraud 1$ 4etsiW tkn.. . The Charity is requir&J to compty with ehanty based cn our kncA¥lgJge of its acliwti"es. we iden11f￿￿ that was of key 99nificance. . We gained an understandir4J of hcw the charity cthiwied wth ils kgal aTrJ regulatory framework Ihrough disojssions wilh man4ement arwj a ￿vIeW ofthe WicTres. wocedur¢s and ¢ontrds. The audrt tèam, whith is experierKed in the audr( of chanb"es, consKlered tl* Charitys suscepb"ts'lity lo material mi5slalement and how fraud may ctoJr. l)Jr corriderati￿s induded the risk of management ovenide. . Our approach induded rewev•ing ioumal adjustrnents and unusual transac*J"ons. There are inherent limitatsons in th& aLKlit sxc*edwes described atthi8 ￿. the further rerrthied r¥Ji•compliance with laws anO regulal]ons is frrxn fv evenls and transactions refl8Cted in thè financial stslwnents. the less likely we would beccme awa￿ of it. The risk of nol detecting a material misstalement due to fiaud is higher than risk of not detectiry one ￿u￿1ThJ from error. as fraud may involve deliberate concealmènt by. for exampb, fowy (K irtentiwK4 misreFKesental¥)ns. or through collus￿n. A furthar desuiption of our fesponsibilibes foy awljt of the fina￿la1 slatements is located on th• Finarrial ReportirvJ Cwnol's webgte at www.frc.¢xg.uklaUdilcY5re¥N)n￿￿"l￿.es. This dèscWM)n forrr6 part of our Report ofthe IndepeThJent AL*Jitors. Use ofour report This rewt is made solety lo the chWilab￿ compan15 ffembers, as a t￿. in accordan￿ wlh cfwer 3 of Part 16 of the Companies Act 2LKhS. Our audit wc*k has been undertaken so that we mMJhl state to the charitsble conwanls members those matters we are requir8d to state to ltsm in an auditors. rèport and for no other purpose. To the fullest eXI￿t pennitted by l&v. we do Th)t accept or assL¥ne responsibj'lity to anyone other than the charitable Company and ¢hwil*Ae c(MnpanYs members as a bc¥ty. lor our aLhlit work. tor Ihis report, ￿ for the opinions we have f01T￿J. Nwl Wi*inson FCA (Senior statut￿ Auditor) for and on behalf ol Kr¥)x Cropper LLP Chart￿d Ac¢ountsnts and Ststuw 153-155 LorKk)n Road Hèmd Hèmpstead Hertfwdshwe HP39SQ Pa3e 26 GUILDHE LIMITED Statemerrt of Flnan¢lal Aclivitses for the Year Ended 31 July 2023 2023 Unrnstricted funds 2022 Total funds INCOME AND ENDOWMENTS FROhl Charliable activities Promolv)n of ￿gher e(kKathon 1.1)09,323 968.6B2 Invesbnent incLJme 12,514 824 Total 1.021.837 969,gJ6 EXPENDITURE ON Charltable actS¥ltie8 Promolion of ligher WJ.233 838,331 NÉT INCOME Other re¢ognised gainslllossesl Actuarial gainsl{loswl on defined benefft schemès 131.175 150.0211 1240,829) Net rnovement in fvnds 1109.6541 RECONCILIATION OF FUNDS Totsl funds brought forward 1.151,052 1.260,706 TOTAL FUNDS CARRIED FORWARD 1.153.635 1.151,052 The notes forn part of ihese ffinarKial Statem￿15 PaJe 27 GUILDHE UMITED (REGISTERED NUIABER.. 026(IOW) Balance Sheet 31 July 2023 2023 Unrèstrictsd funds 2022 Total funds FIXED ASSETS Tangl￿8 assets 4,306 6.360 CURREMT ASSErs Debtors Cash at bank 12 114.641 1.539.672 90,568 1,540,773 1.654.313 1,631.341 CREDITORS Amr4Jnts falliThJ due witlNn one y 13 {79.222) 1102.136) NET CURRENT ASSErs 1.575.091 1,529.205 TOTAL ASSETS LESS CURRENT UABIUTIES 1.579.397 1.535.565 PROVISIONS FOR UABILMES 15 (42S762) 1384.513) NET ASSETS 1.153.635 1.151.052 FUNDS Unre51ricled frjnds 16 1,151635 1.151,052 TOTAL FUNDS 1.153,635 1.151,052 ncaal statements were approv&J by ￿ Board of Trustees aulhowi5ed issu8 .. and were s￿n8￿ on ts Walf ty.. P M¢Clar&)- Trustee The Th)tes form part ofllw f￿anCIal ststerr*nls P&3e 28 GUILDHE UMITED Cash Flow Statement for the Year Ended 31 Juty 2023 2023 2022 Cash flows from opérating actl¥ltles Cash generatèd from operations {11511) 128.444 Net cash lusgj inyprovided by operaiiTrJ *ivilie5 111511) 128.444 Cash flows from investing actr¥iti•s Purchase of iaroible fixed assets Interest received (1.104) 11514 13,0221 824 Net cash provKJed byllu5ed in} irNesbrg a(aiv* 11.410 {2.1981 Change in ¢ash and tssh equiv*nts in the reporting period Cash and cash equNal8nts at th• beginning ofthe r•portlng perlod (1.1011 126.246 1.$40.773 1,414.527 Cash and cash equNalents at the end of the reporting period 1.S39.672 1,540.773 P&Je 29 GUILDHE UMITED Not•s to the Cash Fl(M Statemtnt forth• Yèar Ended 31 July 2023 RECONaUArnN OF NEf INCOME TO NEf CASH FLOW FROM OPERATING ACTMTIES 2023 2022 Net incomè lor thè rryortSng pul￿1 {as p8r thè Statement of Flnanclal Actlvit5es) Adjustments for: Depreoation charges Interest received (I￿reaSeYdecrease in debtors Decrease in creditors 131.175 4159 {12.5141 {240731 (22.9141 18.7731 2.617 18241 17.604 12,4721 119.6561 N•t cash (used inVpro¥id•d by opwallons (12.5111 128.444 ANALYSIS OF CHANGES IN NET Fu￿>s At 1.822 Cash fthv At31.723 Net cash Cash al bar 1.540.r13 (1.1011 1.539.672 1.540.773 {1,1011 1.S39.672 Totsl 1.540.773 11.1011 1,539.672 P￿e 30 GUILDHE Um￿ED Notes to the Financial Statem•nts for the Year Ended 31 July 2023 ACCOUNTING POLICIES Basls of pr8parfng the financlal statements The ffinantyal stslements of the chan"table conwny. which is a ber￿ffl enlity uThJer FRS 102, have been prepared in acoxdance with Charities SORP IFRS 1021 A¢¢ounb"ng and Rèporting by Charities.. Statement of RecommeThJed Praclice apFrfrable to chantEs preparing Ihetr accounts in acc4)rdarte wilh the FinarKial Reportiry Standartl aWi¢ablè in UK and RepU￿*C of Ireland IFRS 1021 (effective 1 January 20191.. Financial ReporltrrfJ StsThYar(1 102 The FinarKial Re[￿rti￿ Stand¥d applicable in the UK and Re￿￿1C of IreL2nd' and Ihe Cornpw￿ Act 2006. The finan¢4d slalements have l)een prepared urkl•r historical Cost convenkn. Crilical accounting judgements and key sources of estimalion un¢ertainty Estimales and jUdge￿ntS are continualty evaluated and are based on historical exper*￿ and other f￿t￿$, indu¢Jing eXF¢clali￿% of fvture events th* are believed to be reasonable under the ircumstarr￿s. Cnlical a(xountiro esbmates and assLIn￿#￿'. The company makes esb'mates and asgJrnpt*Ms corttmiThJ the fLrture. The Tesunir#J aCr￿Unting estimates and asgjrytions wll. by defjnthC￿. seldwi equal Ihe related adual ￿SUItS. The 951imates and assumpt￿5 that have a svJnificant risk of causirrfJ a material adjustment lo tt* ¢aff￿ng amounts of asstrts ar￿ lithlitEs wrthin the next fin￿4￿ yew are discussed tdow. crth.cal areas of1￿MenL. P￿Slan dèfiat lithlity: The Charity has enter•d into an ￿reement Mth ts pèn%on txovider that dètemines hrm Chanty will fund a defical and as suth tr￿ Charity has re￿nised a liability for the conlributs.orbs paYa￿e that anse from agreement. Assumpb'ons have been made for h¢Trw salary values and staff volumes ￿11 in ts ftrtwe wd IIE rate usgj whK* has been based (N) the r* ol a h¥Jh qualsty corpc¥ate b￿d. Income All income is ￿cogniSed in thè Statement of FinanrAal Ad]vth"8s once ¢harty has enb'uement to Ihe fvnds. it is probable that the rrwrE will te re¢ewed and ttE anwnt can be ff￿asured ￿1￿lAy. Incory* tsx reCOvw￿e in relalion to investrr£nt irK&NY* is re¢cgnised al tr* b.nw the inveStn￿l income is r8cetvable. ExpendI￿re Liabilrnes are rec(%Jnised as ex￿d[tur￿ as S(￿ as t1￿ ts a legal or constnJ¢tive oblig8lion committing the charity lo that exFenditure. is prOb￿e Ihat a transfer of eccmmic benefits will te required in settleff*nl and thè amount of the rtAKJats"on can bè Measu￿ ￿liabfy. Expenditu￿ i8 accounied for on an a¢¢rLds basis arKI has been classffied urthr headings that aJgregate all cost relaled to the category. Where costs carnoi te dire¢Xly attrityjted to parti¢uLar headings they have t*gn albcated to aC￿￿ti.￿S on a basi5 congstent the use of resource5. Tangible fixed assets Depreciation is promded at ts fdkMrKJ anrxA rates wi ¢ydw to wrfe off each asset over its ests'mated uselul life. Fixtures and ffttirvJs Ccmnputer equip¥n￿l 25% ￿ cost Pwje 31 ttntinuod... GUILDHE UMITED Note$ to tho Financial Statements- conllnued lorth• Year Ended 31 July 2023 ACCOUNTING POUCIES. eontkntsed Taxatlon The tharity is exempt from C(￿)rai￿￿ tax on its thavitable ￿1vileS. Fund accountlng Unr*stri¢te1￿ nel rrThe￿I in furbts, inthded in the aty)ve are a5 frAkhYs: Resources Gains and Movement in funds Unrestri¢ted funds General fijnd 1.991.343 11.807.W) {2￿,￿&?1 1107,0711 TOTAL FUNDS 1.991,343 {1.PA)7.564} {UJ,89)1 1107,0711 Members. proJ•ct fvnd The Members. ProJe¢t Fund ￿￿eSentS fLmcthrg mer￿. ¥￿erests that may r￿t be met in full from memtwship subscripb'orts in any one yw. Asset growth fund as rwnit•on of pen51on defidt Paje 39 GUILDHE UMITED Notes to the Flnan¢ial Ststements- contlnued for the Year End•d 31 July 2023 16. MOVEMENT IN FUNI)S- eontlN•d The fund represents arT￿ntS set asKle for the [M)￿nI￿al crystallisab.on of the liats.lity assooated with th8 ¢hariVs memLwship of UniversitEs Pension Schen*. Details of how the liability is t￿ated is sel ljjt in nole 10. JJSC RDMS pr¢iect Funds set aside frcffl an eart￿ to into Il* possNty of ￿lI￿r￿j 8 re￿reh dala system. 17. RELATED PARfi DISCLOSURES Il¥ing to the nature ol thè charitys okwatKJns and tF* o)mrrt)stion of the board of tW51*s tmng drawn frc4n sedor and wvale sedor ¢ygarrisatsns transactions may take place wth organisalions in whth a Injstee has an inte￿st. ￿1 trans￿ti￿s invofviNJ such ¢Juanisatson a￿ conducted in accordance Mth ihe chanty's finan￿￿ regulats￿5 arKI nor[T￿l procurement prryxdures. No related party ts3nsathons tcok FAace in the year. Transactions member institutions where trnslees have an interest have nol been thsdosed as ty do ncl r￿t defvN"twJ) of a related paty. 18. ULTIMATE CONTROLLING PARTY chorty is controlei1 by ts N*ntsrs.