REGISTERED COMPANY NUMBER: 02600590 (England and Wales)
REGISTERED CHARITY NUMBER: 1012218
Report of the Trustees and
Financial Statements forthe Year Ended 31 July 2024
GUILDHE LIMITED
Knox Cropper LLP
Chartered Accountants and Statutory Auditors
153 -155 London Road
Hemel Hempstead
Hertfordshire
HP3 9SQ

GUILDHE LIMITED
Contents of the Flnan¢lal Slatements
for the Year Ended 31 July 2024
Page
Reference and Administrative Details
Report of the Trustees
2 to 6
Report of the Independent Auditors
7 to 9
Statement of Financial Activities
10
Balance Sheet
Cash Flow Statement
12
Notes to the Cash Flow Statement
13
Notes to the Financial Statements
14 to 22

GUILDHE LIMITED
Reference and Admlnlstratlve Details
for the Year Ended 31 July 2024
TRUSTEES
Ms M A Appleton Principal (resigned 8.8.23}
Professor N R Braisby Vice-chancellor & Chief Executive
(reslgned 23.5.24)
Professor K L Bryan Vice Chancellor (resigned 23.5.24)
A P Kirkham Chief Executive (resigned 11.4.24)
A P Mcclaran Vice-chancellor
Professor S Mcnamara Principallceo
Professor K M Sloan vi￿-chanGe11O[ And Ceo
A Wheaton Principal
Prof S Wonnacott VI￿ Chancellor
C Connor (appointed 26.9.24)
Professor J Dunne {appointed 25.1.24)
Professor D G￿en (appointed 11.10.24)
Professor R Renton (appointed 26.9.24)
REGISTERED OFFICE
Woburn House
20 Tavistock Square
London
WC1H 9HB
REGISTERED COMPANY
NUMBER
02600590 (England and Wales)
REGISTERED CHARiff
NUMBER
1012218
AUD￿oRs
Knox Cropper LLP
Chartered Accountants and Statutory Auditors
153-155 London Road
Hemel Hempstead
Hertrordshire
HP3 9SQ
SOLICITORS
Eversheds
1Wood Street
London
EC2V 7WS
Chief Executive officer: Brooke Storer-church
Page 1

GUILDHE LIMITED {REGISTERED NUMBER: 02600590)
Report of the Trustees
for the Year Ended 31 July 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their
report with the financial statements of the charity for Ihe year ended 31 July 2024. The trustees have adopted
the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to
charities preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102} (effective 1 January 2019).
GuildHE is a recognised representative body for UK Higher Education. Our 61 members in the financial year
were universities. university colleges, further education colleges and specialist institulions. There were two
associate members: The Feder2tion of Drama Schools and the association of Land Based Colleges &
Universities Aspirring to Excellence (LANDEX).
Member Inslitutions Include major provlders In technlcal and professlonal subject areas such as art, design
and media, music and the perfomiing arts. agriculture, food and the natural environment,. the built
environment. education,. theology; law and business. health and sports science.
OBJECTIVES AND ACTIVITIES
Objectlves and alms
The Charitys core objects. as set oul in its Memorandum of Association. are..
To promote and improve higher education in the United Kingdom and elsewhere in direct furtherance of the
objects and missions of Company members by the promotion of discussion and consultation, the formulation
of policies and the provision of representation, information, advice and assistance.
The Charlly's alms are as follows:
Members: To provide an excellent seNice for our members.
The higher education sector: To work with our members to support an effective infrastructure for UK higher
education.
Students: To praynote excellent student engagement. experience and outcomes as the heart of a quality UK
HE sector.
. Govemment: To infomi and Influen￿ UK higher education policy and practice.
As an organisation.. To be an intelligenl, flexible and ￿pons1Ve organisab'on.
The slrategies employed to achieve the Charitvs aims and objectives are to:
Highlight the importance of a diverse, internationally successful higher education sector.
Make the case for a property funded higher education system that allow5 a diverse range of institutions to
thrive.
Influence thinknng on higher education legislation and the future regulation of higher education.
Influence the development of the TEF and decisions about the future of Quality Assurance.
Make the case for the positive economic. cultural and social contribution that intemational stud&nts make to
th8 UK.
Champion the role of higher education as close partners with industries delivering high qualty, work
relevant. high level s￿1]$ and professional education.
Page 2

GUILDHE LIMITED (REGISTERED NUMBER: 02600590)
Report of the Trustees
for the Year Ended 31 July 2024
OBJECTIVES AND ACTIVITIES
Significant activities and key achievements
On regulation, the House of Lords Industy and Regulatorfs review of Ofs picked up all of our
recommendations in their final report and GuildHE's views were specifically cited.
Set up and co-chair an LLE Policy Group for DIE, in collaboration with UUK after we specifically asked for
more regular engagement with the HE seclor on the development of Ihe LLE policy
Ofs listened to our COn￿mS on the proposed revisions to the APP process and revised the expeclations
and timelines for delivery.
With regards to the new Ofs condition on harassment, our con￿m5 around regulatory burden, Glarity for
students on policies and processes, and legal definitions and their connection lo our free speech duty were
particularly taken on board leading to a more risk-based approach.
Free speech Act paused following extensive lobbying on the practicalities of implementation.
We helped set up the Creative Education Coalition which developed a manifesto document Ythich d1￿CtlY
influenced Labour and Lib Dem and Creative UK pre*lection policy.
. Graduate visa route saved
Priorities for 24125
Objective I: To grow and support our community to thrive in the 21st century.
To meet members, needs, we will conduct regular member visits and develop a feedback plan. We will also
review and enhance our membership offer, ne￿OrkS, and events, while showcasing the value of GHE
membership through improv8d communications and impact reporting. Our d&livary work trj member5 will add
value and support their organisations objectives and areas for development.
Objective 2: To strengthen GHE'S voice and raise the profile of our members.
To increase GHE'S public engagement and raise the profile of our members, we will implement a
communications strategy focused on developing a new website, enhanco social media, and identify new
means for public messaging using our policy priorities as a hook.
Objective 3: To be bold advocates for and champions of a diverse sector.
To advocate for a diverse sector, we will engage with Government and regulatory officials 8nd sector bodies.
We will focus on key member policy priorities such as regulation. funding. skills, sector collaboration.
research, international growth, equality, and creative education.
Objectlve 4: To enhance an equltable, Innovatlv8 and purposeful organlsatlon so that we Can dellver
positive and sustainable change on behalf of our members.
To ensure slrong perfomiance and a sense of belonging. we will provide clear expectations and timely
feedback to staff, invest in staff wellbeing and champion equality and allyship.
Public benefit
The Trustees have reviewed the activities of the Charity in the light of the guidance published by the Charity
Commission on public benefit. The Trustees are satisfied that GuildHE's activities are for the public benefit
GuildHE provides public benefit to those planning to undertake. those undertaking and those with an interest
in the outcome5 of UK higher education as a consequence of the assistance it give5 ils members institutions.
Through the direct advice, information and comment it provides into the public domain and into policy
frameworks, it informs the public debate and raises public awareness of a range of educational and other
professionally-based issues at subjecl level. By supporting Ihe heads of institutions, it enables them to lead
their charitable and educational organisations more effectively. As a consequence GuildHE has an impact on
the delivery of higher education through good practi￿ exchange and advice on policy. The organisations that
GuildHE members lead provide a range of higher education OPFK)rtunities to students from the UK and
abroad; and they have public b8nefit impacts on th8 cultural, social and inl8118Ctual development of their
communities.
Page 3

GUILDHE LIMITED (REGISTERED NUMBER: 02600590)
Report of the Trustees
for the Year Ended 31 July 2024
STRATEGIC REPORT
Financial position
Most of the Charity's income is oblained from membership subscriptions. the use of which is unrestricted to
particular purposes.
During the year ended 3110712024 the Charity received total income of £1.129.740 and incurred total
charitable expenditure of £1,132,478. The net operating loss for the year was £2,738. Actuarial gains this year
were £420.492, which relates to the defined benefit P8nsion scheme liability b8ing reversed entirety in the
Fatest valuation. The net movement in funds for the year shows a surplus of £417,754.
At the year end the Charity had total reserves of £1,571,389. Reserves are needed to bridge the gap between
the spending and recelving of Income to cover unplanned repairs and other expenditure. These funds are
held for the b8nefit of members and financial sustalnabllity of GuildHE in meetlng current and future
obligations, including any future pension deficit arising from GuildHE's membership of USS.
Investment policy and objectives
In order to minimise investment risk, funds are retained in an interest paying deposit account and a proportion
placed with Handelsbanken to achieve an improved return on liquid assets. These investment arrangements
are kept under close review by the Executive Group. Total income from all investments for the yearlperiod
ended 3110712024 was £31,699.
Reserves pollcy
The Trustees have set a reserves policy which aims for:
Rese￿eS to be maintained at a lev@1 which 8nsures that the prernises and staffing o)sts of the
organisation's core activity could continue during a period of unforeseen difficulty.
Reserves to be maintained in a readily realisable fom.
Any surplus reserves over this level of funds to be designated for the replacement of assets and support of
the complgtion of any GuildHE strategic projects.
Underlying undesignated reserves will support the Charities continued membership of the USS Pension
Scheme, and the undedying liability in that scheme
The calculation of the required level of reseNes is an integral part of the organisation's planning, budget and
foreost cyde. It takes Into account:
Risks associated with each stream of income and expenditure being different from that budgeted.
Planned activity levels.
. The Charitys commitm8nt with r8sp8ct to staffing and lease costs within the financial year.
Any pension liability share that will be attributable to the charity through its membership of the Universities
Superannuation Scheme {USS).
The Charity had no reserves in deficit as at 3110712024.
Going concern
The Trustees have reviewed the circumstances of the Charity and consider that adequate resources continue
to be available to fund the activities of the Charity for the foreseeable fijture. The Trustees are of the view that
the Charity is a going concem.
Principal risks and uncertainti8S
The principal risks faced by the Charity are:
Financial rlsk- loss of members
Reputational risk- loss of influence or F)oor media relations Changes in irrelevant
Operational risk- business continuity issues including office inaccessible
Intemal controls - Financial or system errors
Page 4

GUILDHE LIMITED {REGISTERED NUMBER: 02600590
Report of the Trustees
for th8 Year Ended 31 July 2024
STRATEGIC REPORT
Financial and risk management objectives and policies
The Trustees have a risk management strategy which comprises:
Regular review by the Executive Group to identify risks and mitigating actions. Intemal risks are minimised
by the implementation of procedures for aLrthorisation of all transactions and projects and to ensure
consistent quality of delivery for all operational aspects of the charity. Key areas of risk and new opportunities
are integrated into the regular business of the Executive Group.
Future forecasts have been reviewed and analysis undertaken of altemative fvnding scenarios and
responses for mitigation of any negative effects. A detailed update of health & safety and associated risk
assessment together with related issues takes place annually. undertaken under the supervision of Stallard
Kane who act as "competent person" for GuildHE.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
GuildHE Limited is a company limited by guarantee and does not have any share capital. It is govèmed by its
Memorandum and Articles of Association. It 'is registered as a charity with the Charity Commission. Details of
the Trustees who served throughout the year are included in the Reference and Administration Details.
Members. liability
Each member of the Charitab18 Company undertakes to contribute to the assels of th8 Company in the event
of it being wound up while helshe is a member, or within one year after helshe ceases to be 8 member. such
amount as may be required not ex￿edIng £1. for the debts and liabilities contracted before they ￿ase to be
a member.
Recrultment and appolntment of new trustees
The Directors of the Company are also charity Trustees for the purposes of charity law and are known in the
companys Articles as members of the Executlve Group, Under the requirements of the Memorandum and
Articles of Association, th8 Executive Group shall consist of the Chair, WI￿ Chairs, three members
elected to the Executive Group and members COwOPted to the Executive group by the existing Executive
Group. All members are circulated with invitations prior to the AGM and as vacancies occur, advising them of
ratiring tNst8es and requesting nominations. Elected Trustees serv8 for an initial period of three years.
Elected Trustees may serve for consecLrtive terms of three years but shall not serve for at least one
subsequent year befo￿ further reappointment to the Executive Gr()up. When considering Irustees for co
option, the Executive Group has regard to the diversity of member institutions. If a member of the Executive
Group is elected as the Chair or a Vice Chair. then the above time limits shall be extended to allow
completion of the period of office.
Organisational structure
A Counal, consisting of all members of the Company. meets four times per year and is involved in major
decisions and policy approval, The Charity and Company is administered for normat business by its Board of
Trustees l Board of Directors comprising the Executive Group, which meets six times per year. A Chief
Executive Officer and a Company Secretary are appointed by the Trustees" presently both roles 8re
undertaken by the same person.
Induction and tralnlng of new trustees
The training and induction provided for new Trustees will depend upon their existing experience but would
always include a tour of the Charity and a Chan￿ to meet other staff. All Trustees are provided with copies of
policies. procedures. minutest accounts. budgeis. plans and ather documents that they will need to undertake
their role as Trustees. As there are normally only or three new Trustees a year, induction tends to b8
done infomially and is tailored specifically to the individual. Organisational Structure, A Council. consisting of
all members of the Company. meets four times per year and is involved in major decisions and policy
approval. The Charity and Company is administered for normal business by its Board of Trustees l Board of
Directors, comprising the Executive Group. which meets six times per year. A Chief Executive Officer and a
Company Secretsry are appointed by the Trustees. presenliy both roles are undertaken by the same person.
Page 5

GUILDHE LIMITED (REGISTERED NUMBER: 02600590)
Report of the Trustees
for the Year Ended 31 July 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Key management
The Board of Trustees have devolved responsibility for day to day management of the Charity to the GuildHE
offits team led by the Chief Executive Officer.
Related parties
None of the Trustees reGeive remuneration or other benefft from their work wilh the Charity other than
reimbursed travel expenses. CVCP Propertl8s PIC is the landlord for the p￿rniSes used by the GuildHE
Offices in Central London. GuildHE sub-let part of its office space to the charitsble organisation Universltles
and Colleges Employers Association (UCEA).
Sub-associations
The work of GuildHE's sub-assoclations continued in the 2023124 year. This included GuildHE Research. and
UKADIA (UK Arts and Design Institutions Association}.
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The trustees (who are also the directors of Guildhe Limited for the purposes of company law) are r8sponsible
for preparing the Report of the Trustees and the finanual ststements in accordance with applicable law and
United Krngdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financlal year which give a true
and fair view of the state of affairs of the charitable company and of the incoming r8sources and application of
resources, including the income and expenditure. of the charitable company for that period. In preparing those
financial statements, the trustee5 are required to
select suitsble accounting policies and then apply them consistently;
observe the methods and principles in the Charity SORP.
make judgements and estimates that are reasonable and prudent.
state whether appllcable accounting standards have been followed. subject to any material departures
disdosed and explain8d in the financial statements.
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
charitable ￿rnPany will continue in business.
Th8 trustees are responsible for keeping proper accounting records which disclose wlth reasonable accuracy
at any time the financial position of the Charitable company and to enable them to ensure that the financial
statements comply with th8 Companies Act 2006. They are also responsible for safeguarding the assets of
the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and
other irregularities.
In so far as the tDJstees are aware:
there is no relevant audit information of which the charitable company's auditors are unaware: and
the twstees have taken all steps that they ought to have taken to make themselves aware of any relevant
audit inforrnation and to establish that the auditors are aware of thal information.
AUDrroRS
The auditors. Knox Cropper LLP. will be propos8d for re-appointment at the forthcoming Annual General
Meeting.
Report of the trustees, incorporating a strategic r8POrt, approved by order of the board of trustees, as the
company dir
rs,on.
￿..￿.¢.￿'.F.m.£1-￿..?.9.z.Y. and signed on the board's behalf by..
Professor K M Slo
Trus
Page 6

Report of the Independent Auditors to the Members of
Gulldhe Llmlted
Opinion
We have audited the financial statements of Guildhe Limited (the 'charitable ￿mpan￿) for the year ended
31 July 2024 which comprise the Ststement of Financial Activities, the Balance Sheet, the Cash Flow
Statement and notes to the financial statement5, induding a sumrnary of significant acwunting policies. The
financial reporting fratnework that has been applied in their preparation is applicable law and United Kingdom
Accounting Standards {United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the slate of the charitable companys affairs as at 31 JUEY 2024 and of its
incoming resources and application of resources, including ils income and expenditure. for the year then
have been properly prepared in accordance with United Kingdom Generally A￿pted Accounting Practice.
and
have been prepared in aC￿)rdan￿ with the requirements of the Companies Act 2006.
Basls for opinion
We conducted our audit in accordan¢e with Inlemational Slandards on Audiling (UK) {ISAs {UK)) and
applicable law. Our responsibilities under those standards are fvrther described in the Auditors.
responsibilities for the audit of the financial statements section of our report. We are independent of the
charitabla company in accordance with the ethical requirements that are relevant to our audit of the financial
statements in the UK, including the FRC'S Ethical Stsndard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained
is sufficient and appropriate to provide a basis for our opinion.
Concluslons relatlng to golng concem
In auditing the financial statements, we have concluded that the trustees, use of the going concem basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed. we have not identified any material uncertainties relating to events or
conditions that individually or collectively, may cast significant doubt on the charitable ￿mpan￿S ability to
continue as a going COn￿M for a period of at least ￿e1ve months from when the financial statements are
authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the
relevant sections of this report.
Other infomiation
The trustees are responsible for the other information. The other infomiation comprises Ihe information
included in the Annual Report. other than the financial statements and our Report of Ihe Independent AuditOT5
thereon.
Our opinion on the financial statements does not cover the other infom)ation and. except to the exienl
otherwise explicitly stated in our report. we do not express any forni of assurance conclusion thereon.
In conneGtion with our audit of the financial statements. our responsibility is to read the other infomiation and.
in doing so, consider whether the other information is materially inconsistent with the financial statements or
our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such
material inconsistencies or apparent material misstatements, we are required to determine whether this gives
rise to a material misstatement in the financial statements themsefves. If, based on the work we hav8
performed, we conclude that there is a rnaterial misslatement of this other information, we are required to
report that fact. We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the Course of the 8udit:
the information given in the Report of Ihe Trustees for the financial year for which the financial statements
are prepared is consistenl with the financial statements. and
the Report of the Trustees has been prepared In accordance with applicable legal requirements.
Page 7

Report of the Independent Audilors to the Members of
Guildhe Llmlted
Matters on which we are requir6d to report by exception
In the light of the knowledge and understanding of the charitable company and Its environment obtained In the
course of the audit, we have not identified material misstatements in the Report of the Trustees.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to
report to you if. in our opinion:
adequate accounting records have not been kept or retums adequate for our audit have not been re￿Ived
from branches not visited by us,. or
the financial statements are not in agreement wilh the a¢￿Unting records and retums.. or
certain disdosures of trustees, remuneration specified by law are not made" or
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Statement of Trustees, Responsibilities, the trustees {who are also the directors
of the charitable company for the purposes of company law> are responsible for the preparation of the
financial stalements and for being satisfied that they give a tnje and fair view, and for such internal control as
the trustees determine is necessary to enable the preparation of financial statements that are free from
material misstatement, whether due to fraud or error.
In preparing the financial statements. the trustees are responsible for assessing the charitable cDmpanls
abilty to continue as a going concem, disclosing. as applicable, matters related to going GOn￿rn and using
the going concem basis of accounting unless the trustees either intend to liquidate the charitable company or
to cease operations, or have no realistic alternative but to do so.
Our responslbllitles for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from materlal misstslement, whether due to fraud or error, and to issue a Report of the Independent Auditors
that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an
audit conducted in aGcordanGe with ISAS {UK> will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate,
they could reasonably be expected to influence the economic decisions of user5 taken on the basis of these
financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Irregularities, including fraud, are instances of nonwcompliance with laws and regulations. W8 design
procedures in line with our responsibilities. oullined above. to detect material misstatements in respect of
irregularities, including fraud. The exlent to which our procedures are capable of detecting irregularities,
including fraud is detailed below..
The Charity is required to comply wilh charity law and based on our knowledge of its activities. we identified
that was of key significance.
We gained an understanding of how Ihe charity complied wilh its legal and regulatory framework through
discussions with management and a review of the documented policies. procedures and controls.
The audit t@am, which is experienced in the audit of charities. considered the charity's SuS￿pIlblIIty to
material misstatement and how fraud may occur. Our considerats'ons included the risk of management
overrtde.
Our approach included reviewing journal adjustments and unusual transadions.
There are inherent limitations in the audit prO￿dureS described above and, the further removed
non-￿mPliance wilh laws and regulations is from the events and transactions reflected in the financial
ststements, the less likely we would become aware of it. The risk of not detecting a material missialement
due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate
COn￿alment by, for example, forgery or intentional misrepresentations. or through collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at www.frc.org.uklauditorsresponsibilities. This description forms part of our
Report of th8 Independent Auditors.
Page 8

Report of the Independent Auditors to the Members of
Guildhe Limited
Use of our report
This report is made solely to the charitable company's members, as a body. in accordance with Chapter 3 of
Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the
charitable company's members those matters we are required to state to them in an auditors, report and for
no other purpose. To the fullest extent pemitted by law, we do not accept or assume responsibility to anyone
other than the charitable company and the charitable company's members as a body, for our audit work, for
this report, or for the opinions we have formed.
Neil Wilkinson FCA (Senior Statutory Auditor)
for and on behalf of Knox Cropper LLP
Chartered Accountants and Statutory Auditors
153-155 London Road
Hemel Hempstead
Hertfordshire
HP3 9SQ
Date: ....
Page 9

GUILDHE LIMITED
Statement of Flnanclal Actfvltles
for the Year Ended 31 July 2024
2024
Unrestricted
funds
2023
Total
funds
Notes
INCOME AND ENDOWMENTS FROM
Charitable activities
Promotion of higher education
1.098,041
1.009,323
Investment income
31,699
12,514
Total
1,129,740
1,021,837
EXPENDITURE ON
Charitable activities
Promotion of higher education
1,132,478
969.233
NET INCOMEI{EXPENDITURE)
Other recognlsed galnsl(losses)
Actuarial gainsl(losses) on defined benefit
schemes
(2,738)
52,604
420,492
{50,021)
Net movement in funds
417,754
2,583
RECONCILIATION OF FUNDS
Total funds brought forward
1,153,635
1.151.052
TOTAL FUNDS CARRIED FORWARD
1,571,389
1,153.635
The notes form part of these financial statements
Page 10

GUILDHE LIMITED {REGISTERED NUMBER: 02600590)
Balance Sheet
31 Juty 2024
2024
Unrestricted
funds
2023
Total
funds
Notes
FIXED ASSETS
Tangible assets
11
8,121
4.306
CURRENT ASSETS
Debtors
Cash at bank
12
78,806
1.605,819
114.641
1.539,672
1,684,625
1.654,313
CREDITORS
Amounts falling due within one year
13
(121,357)
(79,222)
NEf CURRENT ASSETS
1,563,268
1,575,091
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,571,389
1,579,397
PROVISIONS FOR LIABILITIES
15
(425,762)
NET ASSETS
1,571,389
1,153,635
FUNDS
Unrestricted funds
16
1.571,389
1,153,635
TOTAL FUNDS
1,571,389
1,153,635
The finan¢i81 ststements were approved by the Board of Trustees and authorised for issue on
. and were signed on its behalf by:
KMSloan-
rust8e
The notes fomi part of these financial statements
Page11

GUILDHE LIMITED
Cash Flow Statement
for the Year Ended 31 July 2024
2024
2023
Notes
Cash flows from operatlng actlvltles
Cash generated from operations
40,843
(12.511)
Net cash provided byl(used in) operating activities
40,843
(12,511)
Cash flows from Investlng a¢tivltles
Purchase of tangible fixed assets
Interest received
{6,395)
31,699
(1,104)
12.514
Net cash provided by invests'ng activities
25,304
11,410
Change in cash and cash equivalents
in the reporting period
Cash and cash equivalents at the
beginning of the reporting period
66,147
(1.101)
1.539,672
1,540,773
Cash and cash equivalents at the end
of the reporting perlod
1,605,819
1,539,672
The notes fomi part of these financial statements
Page 12

GUILDHE LIMITED
Notes to the Cash Flow Statement
for the Year Ended 31 July 2024
RECONCILIATION OF NET (EXPENDITURE)nNCOME TO NET CASH FLOW FROM OPERATING
ACTIVITIES
2024
2023
Net (expendlture)lincome for tho reporting poriod (as per the
Statement of Financial Activities)
Adjustments for:
Depreciation charges
Loss on disposal of fixed assets
Interest recetved
De¢reasel{increase) in debtors
Increasel{decrease) in (fediiors
Difference befvieen pension charge and cash contributions
(2.738)
52,604
2,156
425
(31,699)
35,835
42,135
(5,271)
3,159
(12,514)
(24,073)
(22,914)
(8,773)
Net cash provided byl(used in) operations
40,843
(12,511)
ANALYSIS OF CHANGES IN NET FUNDS
At 1.8.23
Cash flow
At 31.7.24
Net cash
Cash at bank
1,539,672
66,147
1.605,819
1.539.672
66,147
1.605,819
Total
1,539,672
66,147
1,605,819
The notes form part of these financial Statements
Page 13

GUILDHE LIMITED
Notes to the Flnanclal Statements
for the Year Ended 31 Juty 2024
ACCOUNTING POLICIES
Basis of preparing the financial statements
The finanaal statements of the charitable company. whlch Is a publlc benefit entity under FRS 102.
have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by
Charities.. Stalement of Recommended Practice applicable to charities preparing Iheir accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS
102) (effective 1 January 2019),, Financial Reporting Standard 102 Th8 Financial Reporting Stsndard
applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements
have been prepared under the historical cost Convention.
Critical accounting judgements and key sources of estimation uncertainty
Estimates and judgements are continually evaluated and are based on historical experience and other
factors. including expectations of future events that are believed to be reasonable under the
circumsiances.
Critical accounting estimates and assumptions:
The company makes estimates and assumptions conceming the future. The resulting accounting
estimates and assumptions will, by definition, seldom equal the related actual results. The estimates
and assumptions that have a significant risk of causing a material adjustment to the carying amounts
of assets and liabilities within the nexi financial year are discussed below.
Critical areas of Judgement:
FRS 102 makes the distinction be￿een a group plan and a multi-employer schem8. A group plan
consists of a colledion of entities under Common control typically with a sponsoring employer. A
multi-employer scheme is a scheme for entities not under common control and represents {typically}
an industry-wide scheme such as Universities Superannuation Scheme. The accounting for a
multi-employer scheme where the employer has ent8red into an agreement wilh the scheme that
determines how the employer will fijnd a deficit results in the recognition of a liability for the
contributions payable Ihat arise from the agreement (to the extent that they relate to th8 deficit) and the
resulting expense being recognised through the statement of financial activities..
Income
All income is recognised in the Statement of Financial Activities once the charity has enlillement to the
funds. it is probable that the income will be received and the amount can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment
income is receivable.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or Constructive obligation
committing the charity to that expenditure, it is probable that a transfer of economic benefits will be
required in settlement and the amount of the obligation can be measured reliably. Expenditure is
accounted for on an accruals basi5 and has been classified under headings that aggregate all cost
related to the category. Where costs cannot be diractly attributed to particular headings they have been
allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated
usefvl life.
Fixtures and fittings
Computer equipment
200/¥ on cost
25(hF on cost
Page 14
continued...

GUILDHE LIMITED
Notes to the Financial Statements - continued
for the Year Ended 31 July 2024
ACCOUNTING POLICIES - contlnued
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitsble objectives al the discretion of the
trustees.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular
purposes. The aim and use of each designated fund is set out in the nole5 to the financial statements.
Furth8r 8xplanation of the nature and purpose of each fund is included in the notes to the financial
statements.
Pension costs and other post-retirement benefits
The Charity participates in Universities Superannuation Scheme. The assets of the scheme are held in
separate trustee-administered fund. Because of the mutual nature of the scheme, the assets are not
attributed to individual institutions and a scheme-wide contribution rate is set, The institution is
therefore exposed to actuarial risks associated with other inslitutions, employees and is unable to
identify its share of the underlying assets and liabilities of the scheme on a consistent and reasonable
basis. As required by accounting stsndards, "Employee benefits", the institution thereforé accounts for
the scheme as if it were a defined contribution scheme. As a result, the amount charged to Ihe
statement of financial activities represents the contributions payable to ihe scheme. Since the
institution has entered into an agreement (the Recovery Plan) that detemiines how each employer
within the scheme will fund the overall deficit, the institution rècognises a liability for the contributions
payable that arise from the agreement (to the extent that they relate to the deficil) with related
expenses being recognised through the staternent of financial aGlivities.
INVESTMENT INCOME
2024
2023
Deposit account interest
31.699
12,514
INCOME FROM CHARITABLE ACTIVITIES
2024
2023
Activity
Membership subscriptions Promotion of higher education
Conferences and events
Promotion of higher education
Other income
Promotion of higher education
1,057,801
29,866
10,374
969.862
30,296
9,165
1,098.041
1.009,323
Page 15
continued...

GUILDHE LIMITED
Not6S to the Flnanclal Statements - contlnued
for the Year Ended 31 July 2024
CHARITABLE ACTIVITIES COSTS
Support
costs (see
note 5)
Direct
Costs
Totals
Promotion of higher education
763,267
369,211
1.132,478
SUPPORT COSTS
Goveman¢e
costs
Management
Finance
Other
Totals
Promotion of higher
education
268,928
7,572
425
92.286
369,211
NET INCOMEI(EXPENDITURE)
Net incomellexpenditure) is stated after chargingl(crediling):
2024
2023
Auditors, remuneration
Auditors. remuneration for non audit work
Depreciation - owned assets
Deficit on disposal of fixed assets
7,440
1,500
2,155
425
7,080
1,500
3,158
TRUSTEES, REMUNERATION AND BENEFITS
There were no trustees, remuneration or other benefits for the year ended 31 July 2024 nor for the year
ended 31 July 2023.
Trustees. expenses
There were no trustees, expenses paid for the year end8d 31 July 2024 nor for the year ended
31 July 2023.
STAFF COSTS
2024
2023
Wages and salaries
Social security costs
Other pension costs
574.020
60,838
71,337
504.009
56,000
66,698
706.195
626.707
The average monthly number of employees during the year was as follows:
2024
10
2023
10
Staff
Management
11
Page 16
continued...

GUILDHE LIMITED
Notes to the Financial Statements . continued
for the Year End8d 31 July 2024
STAFF COSTS - contlnued
The number of employees whose employee benefits (excluding employer pension costs) exceeded
£60,000 was..
2024
2023
£60,001- £70,000
£80,001- £90.000
£90,001- £100.000
£100,001- £110,000
£110.001- £120.000
All trustees and certain senior employees who have authority for planning, direding and controlling the
activities of the charity are considered to be key personnel. Total remuneration (including National
Insurance and pension eontributions) for these individuals is £145,959 (2023.. £137.783}-
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
INCOME AND ENDOWMENTS FROM
Charitable activities
Promotion of higher education
1.009.323
Investment income
12,514
Total
1,021,837
EXPENDITURE ON
Charltable a¢tlvllles
Promotion of higher education
969,233
NET INCOME
Other re¢ognlsed galnsl(losses
Actuarial gainsl{losses) on defined benefit
schemes
52.604
(50.021)
Net movement In fund8
2,583
RECONCILIATION OF FUNDS
Total funds brought foNard
1,151,052
TOTAL FUNDS CARRIED FORWARD
1,153.635
Page 17
continued...

GUILDHE LIMITED
Notes to the Financial Statements - continued
for the Year Ended 31 July 2024
10.
PENSION SCHEME
Universities Superannuation Scheme
A deficit recovery plan was pul in place as part of the 2020 valuation. which required payment of 6.2Yo
of salaries over the period 1 April 2022 until 31 March 2024, at which point the rate would increase to
6.3%. No deficit recovery plan was required under the 2023 valuation because the scheme was in
surplus on a technical provisions basis. The charity was no longer required to make deficit recovery
contributions from 1 January 2024 and accordingly released the outstanding provision to the ststemènt
of financial activities.
The latest availabl8 complete actuarial valuation of the Retirement Income Builder is as at 31 March
2023 (the valuation date), which was carried out Using the projected unit method.
Since the charity cannot identify its share of USS Retirement Income Builder (defined benefit) assets
and liabilities, the following disclosures reflect those relevant for those assets and liabilities as a whole.
The 2023 valuation was the seventh valuation for the scheme under the scheme-specific fijnding
regime introduced by the Pensions Act 2004. which requires schemes to have sufficient and
appropriate assets to cover their tethnical provisions (the statutory funding objective). Al the valuation
date, the value of the assets of the scheme was £73.1 billion and the value of the scheme's technical
provisions was £65.7 billion indicating a surplus of £7.4 billion and a funding ratio of111 /..
The charity participates in the salary sacrifice pension scheme. The staff costs (note 8) shows the
pensionable salary which includes the employee salary sacrifice element. The company contribution
rate payable is currently 14.50/0 of pensionable salaries.
As at 31 July 2024 the company had 8 active members participating in the scheme.
The total pension cost for the chaiity was £71.337 (2023: £66,698).
11. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
Computer
equipment
Totsls
COST
At 1 Augusl 2023
Additions
Disposals
59,959
21,279
6,395
(1.6991
81.238
6.395
(1.699)
At 31 July 2024
59,959
25.975
85,934
DEPRECIATION
At 1 August 2023
Charge for year
Eliminated on disposal
59,959
16,973
2,155
(1,274)
76,932
2,155
{1.274)
At 31 July 2024
59,959
17,854
77,813
NEf BOOK VALUE
At 31 July 2024
8,121
8.121
At 31 July 2023
4,306
4,306
Page 18
continued...

GUILDHE LIMITED
Notes to the Financial Statements - continued
for the Year Ended 31 July 2024
12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Trade debtors
Accrued income
Prepayments
18.470
503
95,668
13.180
65,626
78,806
114,641
13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income
14,776
20,608
8,802
77,171
36,035
15,652
27,535
121,357
79,222
14. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows..
2024
2023
Within one year
Between one and five years
79,453
102,626
66,211
19,311
182,079
85,522
15. PROVISIONS FOR LIABILITIES
2024
2023
Provisions
425,762
Pension
Scheme
Liability
Balance at 1 August 2023
Unwinding of discounted amount
Deficit funding contribution
Changes in assumptions
425,762
6,741
112.011 )
420,492
BalanGe at 31 July 2024
Page 19
continued..

GUILDHE LIMITED
Notes to the Flnancial Statements - continued
for the Year Ended 31 July 2024
16. MOVEMENT IN FUNDS
Net
movement
in ftjnds
At
31.7.24
At 1.8.23
Unrestrlcted funds
General fund
Members, proj8Ct fund
Asset growth fund as recognition of
pension deficit
333,635
120,000
417,754
751.389
120.000
700,000
700.000
1,153,635
417,754
1,571,389
TOTAL FUNDS
1,153,635
417,754
1,571,389
N8t movement in funds. included in the above are as follows..
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrestricted funds
General fund
1.129,740
{1.132,478}
420,492
417,754
TOTAL FUNDS
1.129,740
(1,132,478)
420,492
417,754
Comparatives for movement in funds
Net
movement
in funds
At
31.7.23
At 1.8.22
Unrestricted funds
General fund
Members. project fund
Asset growth fund as recognilion of
pension defiat
331.052
120,000
2,583
333,635
120.000
700,000
700.000
1.151,052
2,583
1,153.635
TOTAL FUNDS
1,151,052
2.583
1,153.635
Cornparative net movement in funds. induded in the above are as follows:
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
UnrestriGted funds
General fund
1.021.837
(969,233}
(50.021)
2,583
TOTAL FUNDS
1,021,837
(969,233)
(50,021 >
2.583
Page 20
continued..

GUILDHE LIMrrED
Notes to the Financial Statements - continued
for the Year Ended 31 July 2024
16. MOVEMENT IN FUNDS- continued
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
in funds
At
31.7.24
At 1.8.22
Unrestrl¢ted funds
General ￿nd
Memb8rs' project fund
Asset growth fund as recognition of
pension deficit
331,052
120,000
420,337
751,389
120,000
700,000
700.000
1,151,052
420,337
1,571,389
TOTAL FUNDS
1,151.052
420,337
1,571,389
A current year 12 months and prior year 12 months combined net movement in funds. induded in the
above are as follows:
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrestrlcted funds
General fvnd
2.151,577
(2,101.711)
370.471
420.337
TOTAL FUNDS
2,151,577
(2.101.711)
370,471
420.337
Members. project fund
The M&mbers' Project Fund represents funding for members, interests that may not be met in full from
membership subscriptions in any one year.
Asset growth fund as recognition of pension defjcit
The fvjnd represents amounts set aside for the potential crystallisation of the liability associated with
Ihe charity's membership of the Universities Pension Scheme. Details of how the liability is treated is
set out in note 10.
JISC RDMS project
Funds set aside from an earlier project to look into the possibility of building a research data system.
Page 21
cDntinued..

GUILDHE LIMITED
Notes to the Financial Statements - continued
for the Year Ended 31 July 2024
17. RELATED PARTY DISCLOSURES
(Ming to the nature of the charitvs operations and the composition of the board of tnjstees being
drawn from public sector and private sector organisations transactions may take place with
organisations in which a trustee has an interest. Mi transadions involving su¢h organisation are
conducted in accordance with the charivs financial regulations and normal procurement procedures.
No related party transactions took place in the year. Transactions with member institutions where
trustees have an interest have not been disclosed as they do not meet the definition of a related paty.
18.
ULTIMATE CONTROLLING PARTY
The charity is controlled by its members.
Page 22