REGISTERED COMPANY NUMBER: 0261)0590 (England and Wales)
REGISTERED CHARI￿ NUMBER: 1012218
Report of the Trustees and
Financial Statements for the Year Endgd 31 July 202S
GUILDHE UMITED
•AEGRN￿￿A$
0511212025
COMPANIES HOUSE
#1WJ
Knox CTOFper LLP
Chartered Accountants and Statutory Audrtors
153 -155 London Road
Hemel Hempstead
Hertrordshire
HP3 9sa

GUILOHE UMITED
Contents olthe Finan¢ial Statem
for the Ygar Ended 31 July 2025
Page
Relerence and Administralive Detsils
Report of the Trustees
2 to 7
Report of the Ind8pgnd¢nt Auditors
8 to 10
stst•m•nt of Financial Activities
Balance Sheet
12
Cash Flow Statement
13
N¢)tss to the Cash Flow Ststement
14
N¢)tss to the Financlal Ststwnents
15 to 23

GUILOHE UMtrEO
Referenc• and Admlnistrati¥• Dotsils
forlhe Year Ended 31 Juty 2025
TRUSTEES
A P IAcClaran Vice£han￿110r
Professor S Mcnamara prir￿1pal aThJ CEO
Professor K M Sban Vice-Ch3ncellor and CEO
A Wheaton Principal IrespJned 27.3.25)
Prof S Wonnacott Vice ChancdlLY
C Comor lapFMJnted 26.9.241
Professor J Dunne
Professor D Gr￿n laprKJinted 11.10.241
Professor R Renton (appointed 26.9.241
Professor L Haig lapp)irbled 27.3.251
REGISTERED OFFICE
20 Tawst¢)ck Square
London
WC1H 9H8
REGISTERED COMPANY
NUMBER
Ly26(m)5￿ (Eryknd and Wales)
REGISTERED CHARirY
NUMBER
1012218
AUDITORS
Knox Croptw LLP
Chartered A¢¢￿JnIants aThJ Statutory Auditors
153-155 London Road
HerrEI Hempslead
Herttordshire
HP3 9SQ
SOLICITORS
Evetsheds
1Woc*J Str*t
Li)ndon
EC2V 7WS
Chief Executive Offi￿r. Brtsjke st￿er£hUrch
Page 1

GUILDHE LIAIITED (REGISTERED NUIABER: 026(M1590)
Report olthe Trustees
for the Year Ended 31 Juty 2025
The trustees who are 8150 directo￿ of Ihe d￿rity for the purpxm of the Comw¥es Act 20C6, present their
rewrt with the ffinan(yal slalements of the thanty for the year ended 31 July 2025. The trustees have adopted
the provisions of Accounting and Reporbro by Charibes.. Statement of Recornmended Practi￿ applicabje lo
charities preparing their aovjunts in accordance with the FIn￿CIal Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021 leffecb've 1 January 2019).
GuildHE is a recognised representative trxxly f¢y UK Higher Educatnn. Our 57 memters in the financial year
were universibes. university cdleges, further edU￿tIon colkges arKI speo'alisl institutions. There were two
associate rnernbers.. The Federation of Drama S¢￿s and the asK￿laIM￿ of Land Based Colleges &
Universibes Aspiring to ExcellenrE IL4NDEX}.
Member institutions indude major providers in technical ￿ professional subiecl areas such as arL desKJn
and media, music and the performwvj arts" agr￿ltsIre. fcKxJ and the natural environment.. the built
environment.. educatKm', thedo3y.' law and bus￿$$. heahh and S￿rtS scie￿.
OBJECTIVES AND ACTMTIES
Objoctiyes and aims
The Charity's CO￿ objects. as set c￿1 in it5 merr￿￿d￿rn ofAsscaabcM). are..
. To promle and improve higher educth.on in the Unrted kn"ngdcxn and elsthvhere in dwect furtherance of the
objects and missions of Company member5 by the promotK)n of discussicn and congjtalion, the fomulation
of policies an¢J the promsion of representat￿. infrfflth￿. advice and assist￿e.
Tha Charity's aim$ are as follows:
. Members.. To provide an ex￿lIent service for our members.
. The higher edlKal￿n sector. To work wrth our memters to wpport an effe￿1ve infrastnJcture for UK higher
education.
. Students.. To womote exe£lent student ergagwr*nt. experience and oute4Ths as ts heart of a qualrty UK
HE sector.
. Govemmenl.. To infc*m and influence UK higher educabon p)hcy and pracb"ce.
. As an organisatson.. To be an intellKJent. fiexI￿e resFxMgve (*ganisatK)n.
The strategies employed to achieve ts ChariVs ams and ot4ecaNes are lo".
Highlight the 1rnportan￿ of a diverse, inlemab"onally successful higher educatK)n sector.
. Make the case fc* a Fwrly funde¢J hwJher edU¢xIK￿ system Ihat allows a dNerse range of institutions to
thrive.
. Influence thinking on higher education *islation and the future regulation of higher education.
. Influence the develOpn￿nt of the TEF and decigons atK)ut the fijtu￿ of Qualty Assuran￿.
• Make the case for the wsrtNe ecrrnmic, Lxthjral arnl social contrknubon lI￿t intemational students make to
the UK.
. Champion the role of h￿j￿r e¢knats.￿ as dose partrers wilh industr*s ddNerirwJ hKJh quality, work
relevant, hKJh ￿Ve1 skills and profession81 eduCa￿n.
P&Je 2

GUILDHE LIMÈTED (REGISTERED NUhlBER: 026005x1)
Report of the Trustees
lor the Yèar Ended 31 Juty 2025
OBJECTIVES AND ACTMTIES
Significant activities and key achievements
. Launchir4J a new, refreshed websrte h￿th a dedthed member area, a refreshed GuildHE brarKI. and a new
CRM system to provide the foundations for improved memter eng￿erne￿t.
. InfftuenaThJ t)oth free s[￿e¢h Folicy and open xcess kX)Iw for REF 2029 $0 that Iheir imFknentation is now
more sympathetic to a wider range of instrtutions.
. Strengthening relationships wilh the Department for E(MK3tK￿ (DIE) DIE Skdls team duriry the development
of Skills England. leadiry to Ihe aprK)ifitmenl of our GuildHE Skills Chair to ils tKtsrd.
Proaciively comyling and negotiating the submission of evKIen￿ to the Oepartment for Educalw (DE)
during winterlspring 2025 to the devdopment of the Post-16 Sknlls and HKJher Education While
Paper
Enhancing cMJr p)litical ewement by ref(￿sIng efforts tuwards m8kj.ng nw relab'onships across
Vvhrtehall and dee￿nIng our existirKJ rdats"onships. This resuw in securing a supportive virtual statement
from the Minister for Skn'lls for our 2024 annual (X)nferen￿, whth ￿C(￿Jn￿ed the pa￿'¢U￿ar value of GuildHE
institutions, as well as a private meeb.ng in spnng 2025 be￿n Ihe Minister for Skills and our Executive
Group.
. Engaging tx>nsislenUy and ccK)peralivdy with the OlfK% for Sludents IOISI durirKJ the pause to registration,
DAPS and University Tliue applub.ons to help streamline fulure exerases, which provided a strong basis
from which the OfFS then ￿nsUlted GuildHE stsff on the desgn of the rEw integrated approach to qLJality.
Respondin9 quickly to deepen ¢yJr member-fcmxjsed rdicy Sup￿ for the new freedom of speech
regulations. equipping memkrs wsth vital guidan￿ and a dearer underslanding of the evolving legal and
regulatory landsc2Fe.
Hosting an over-subscribed Dothral Festival in whth almost 40 PGR students fr¢)m GuildHE instrtutions
gathered at the University of Winehester for a ts¥o day event descrited by partiapants as inspiring. upliftirrfJ.
infomalive arKI supporbve.
Completing and formalisiryj a innovative PhD placerrÉnl yk)t in partnership th& Welthme
Collection, which resulted in a thange to their lundirrfJ poticies lo itKorp)rale the more flexible lems of our
model into th￿r future placernenls.
. Influencing the ￿fresh of the cor￿ordS1 to supp￿ Resewch Integrity, launthed in April 2025. This work
placed GuikJHE alongsTrde UUK. UKRI, Well¢xTh. Cmr Researth UK and the Scottish Funding
CouncilSFC in a vital uFxJate of the conc4)rdat.
Spearheading a call-to-aclion on st￿ent eng￿ement in higher education for our memtrtrs. The reFort
nudges members to rethink ￿)W they (￿nect St￿ents thJrirKJ a peric*J of unprecedented change and a
new generation of learners.
Fueling re¢￿￿ni￿On for SFeaalist institubons beyond our own walls, as reflected In the Times Hlqher
Education Awards developir4J a nv*4 natsonal award category to recthJntse the ex￿llenCe wrthin those types
of inslilulions- and inviting GuikJHE's CEO to SUp￿t the a￿rd by attending in person for the first tirne.
Priorilies for 25126
Obi•ctive 1: To grow and support our community to thrive In th• 21st century.
To meet members, needs. we wll conduct Tegular member wsils and develop a feedback plan. We will also
revtew and enhance our rnembership offer, networks. arKI events, while showG85ing the value of GHE
membership through improved communicab.ons arKI irnpact reporting. Our delivery work to members wll add
valiip. anfl 8iipF*Nt thpir nrgani¥ti()n% objpriwps 8TrJ weas Oevdnwpnl.
Objective 2: To strengthen GHES v01r￿ and raise the profile of our members.
To increase GHE'S publie eroagement and raise Ihe wofile of our membets. we wll implement a
coMmuni￿tiOnS strategy focused on devdotxThJ a new web￿te. enha￿e social media. and identify new
means for public messaging using wr Fmjicy prioritw as a hoc&.
Objective 3: To be bold advocates for and charnpions of a diverse sector.
To advocate for a diverse sector. we wll engage wrth Govemn*nl and regulatory offickqls and sector bodies.
We will focus on key member policy pnoribes such as re9ulab"on. fundirrfJ, skills, sector collaboration,
research, international growih. ￿Uality. and ￿eatNe education.
Objective 4: To enhance an equitable. innovative and purposeful organisation so that we can deliver
positive and sustainable ehange on behalf of our m•mbgrs.
P￿3

GUILDHE LIIAITED IREGISTERED NUMBER.. 026LW)$901
Replyt of th¢ Trust•es
for the Y•ar Endsd 31 Juty 2025
OBJECTIVES AND ACTNMES
To ensure slrorvJ [*rf0m)an￿ a sense of t￿rry1n9. we wll provide dear exFeclatK)ns and timely
feedback lo stsff, invesl in staff wellbeing and champion ￿UalitY and allyship.
Public benefit
The Trustee5 have reviewed the xtNities of the Charity in ts Iwjht of the guidance published by the Charity
Commission on public benefit. The Trustees are satisfied that GuildHE's *ivilies are for the putJic benefit.
GuildHE provths public benefit to those ￿anTring to undertake. those undertaking and those wtth an interest
in the outcomes of UK higher educabon as a Consequen￿ of the assistance rt gives its members instilub'ons.
Through the dire¢t adv￿, informatson and ￿rnrnent rt provides into the puts1￿ ¢*)main and into policy
frameworks, rt infoms the Publ￿ debate and raises public awareness of a rarvJe of educational and other
profesSi(￿ally-baSed issues at subj.eca ￿ve1. By gJppoty'ng the heads of Instsl￿￿ns, r( enables them to lead
their charitable and educational organisations rThJre effedNdy. As a consequence GuildHE has an impact on
the delivery of higher edL￿tr"On through g¢Jc4J practi￿ exchange and ath.￿ on pOI￿y. The organisats'ons that
GuildHE members ￿ad provide a raThJe of hNJher educab.on opp)rtvnrtJes to students from the UK and
abroad. and they have putAtc benefrt irnpacts on the cultural. Swal and Intellectual devewment of their
cummunittes.
STRATEGIC REPORT
Financial position
Most of the Charitls incorne is obtained fr￿n merrthrshp sub5Cn"PtNJns. the use of which 15 unrestricted lo
particul* purposes.
During the year ernyed 3110712025 the ChwTrty received total incOff￿ of £1.121.354 anLI irturred tot81
Char[tab￿ expendrture of £1,{￿2,683. The net Okw*'ng surF4us forthe year was £58.671.
At the year end the Charity had total reserves of £1,630,(EO. Reserves are needed to bridge the gap be￿een
the spending and re￿1vir￿j of IrKOrr￿ to cover unplanned repairs and other expendrture. These funds are
hekl for the benefit of membws and financial sustainakn.lity of GuikJHE in meets.ng (Jjrrent and future
obligatiOn5, inclLKliro future deT￿t arisiNJ from GuikJHE's memtV51M"p of USS.
Inv8slment policy and objectives
In order to minimise investment risk. funds are relained in an inlerest payiro deposit account and a protx)rtion
pl￿ed wth Handelsbanken to aCh￿ve an improved retum on Iiquwj as5els. These investment arrangements
are kept under close review by the Exec￿1Ve Group. Total income from all inVeStrr￿￿ts for the yearlperic*J
ended 31107r2025 was £44.710.
Reserves wll
The fruslees have sel a resefves polw which aims tr.
Reserves to be maintained at a level which ensures that the premises aThJ staffiThJ costs of the
organisalion's core activity could continue during a period of urrfOre￿n difficulty.
. Reserve5 to b8 maintsined in o readily realisabbe form.
. Any surplus reserves over this levd of funds to te deSgnal￿I replacement of assels and support of
the completion of any GuildHE strategic woiects.
Underfying undesignated reserves will suprxKI the CharrtEs ￿￿ti￿l￿d membership of the USS Pension
Scheme. and the undertying liabilty in th* stheme
The calculation of the required level of reseryes is • integral part of the organisation's planning, budget and
forecast cyde.11 takes into ￿t?)Unt
. Risks assoaaled wrth e&h stream of inc£*rte exFMthtu￿ being drfferent 1￿M that budgeted.
Planned activrty levels.
• The Charity's commitment with resped to $laffing arvj lease costs within the financial year.
. Any pension Ipts'lity share that will be attn"bU1a￿e to the thaity thrO￿￿h its rr*mbership of Ihe Universities
Superannuation Scheme lUSS}.
The Charity had no reserves in def￿ as at 31K17r2025.
P>Je 4

GUILDHE U￿￿ED {REGIS7ERED NUMBER: 026(￿90?
Report olthe Trust•e$
for the Year Ended 31 Juty 2025
STRATEGIC REPORT
Financial review
Going concern
The Trustees have reviewed the circUmstar￿£S of the Charity arKI o)nsider that ad&]uale resources continue
to be available to fvnd the activit￿$ of the Chanty for the foreseeable lutsjre. The Trustees are of Il* view that
the Charity is a g￿ng cortem.
Principal risks and uncertainties
The prinapal risks faced by the Charity a￿.,
Financial risk- loss of membws
. Reputstional risk- loss of influence media relalions thanges in irrelevant
. Operational risk - bU￿nesS continuty iSSL￿s including office in8￿$&ble
. Intemal controls- Financi81 or system err(¥s
Financial and risk managemènt objectives and poli¢ie$
The Trustees have a risk manageTh*nt stralegy Wh￿ ct*nwises.'
Regular review by the Executive Group lo Kjentify risks and m￿gab.￿j ar*'ons. Inlernal risks are minimised
by the IM￿ementation of prcKedures for authoftsalion of all IranSact￿n$ and projeds and to ensure
consistent quality of delivery for all operatsonal ast*cts of the charity. Key areas of risk and new opportunities
are integrated Into the regular business of ￿ Executive (knp.
Future forecasts have tr*en reviewed and analysis undertaken of altemative funding scenarios and
responses for mrtigatM?n of any regative effects. A detaiknj update of heaNh & safety and associated risk
assessment together wth related issues takes pla￿ annually. undertaken under the superwsion of Stallard
Kane who act as "competent peison" for GuildHE.
STRUCTURE. GOVERNANCE AND MANAGEMENT
Governing document
GuikJHE Limited is a company limited by guaranlee and does not have any share caFMtal. It is govemed by
Memorandum and Artides of Assoaation. 11 'L8 registered as a chanty the Charity Commission. Detsils of
the Twstees who Served thrOugh￿t the year are induded in the Refe[er￿ and Administration De&'ls.
Members. liability
Each member of the charitab￿ Company undertake5 to ¢x)nth"bute to the assets of the Company in the event
of it being wound up while helshe 15 a rTEmber. or wthin or* year after helshe ceases to be a mernber. such
amount as may be required not exceediw £1. f¢X the debts and IkAtx"I￿.es contracted before they cease to be
a member.
Recruitment and appointment of new trustees
The Diredors of the CLynpany are also chanty Trustees for the purFoses of charity law and are known in the
company's Articles as memt*rs of the Executive Group. Under the requirements of the Me￿￿)r8ndum and
Artides of Associab"on, the Execubve GrcyJp shall c4)nsist of ts Chair. Iwo v￿ Chairs. three members
elected to the Executive Group arxi n*mbers Cx￿opted to the ExecLrtive group by the existirrfJ Executive
Group. All members are ureulaled wrth inwtatK)ns prior to the AGM and as ¥a￿n￿e$ ￿r. advising them of
Teliring trustees and requesting nomin8b"ons. Élected Trustees serve for an initial of three years.
Elected Trustees may serve for ts¥o conseujtive lerms of three years bul shall not 5efve for at least one
subsequent year before fvrther reapwnlment to the ExecutNe Gr(yJp. When c£Jnsidering trustees for co
option. the Executive Group has regard to the dNersity of memter instrtutions. If a member of the Executive
Group is elected as the Chair ￿ a Vice Chair. then the above time limrts shall be extended lo allow
completion of the KET¥Jd of office.
Organisational structUTe
A Council, consisting of all members of the Cornpany. m*ts f(MJr times per year and is ￿Vofved in major
deosions and polry approval, The Chanty and Company is adminislered for normal business by its Board of
Trustees l Board of DI￿¢torS comprigrMJ the Execubve Group, whith meets six year. A Chief
Executive Officer and a Company Secretary are appointed by the Trustees" presenlly both roles are
undertaken by the wne F¢rson.
P•ae 5

GUILDHE LIMITED (REGISTERED NUMBER: 026005901
Report of the Truste•s
lorthe Year Endèd 31 July 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
Induction and training of new tru$t8es
The training and indUCt￿n provided for new Trustees wll deperK1 urx)n their existirKJ experience but woukj
always include a tour of the Charity and a Chan￿ to ffleet other stsff_ Al Tnjstees are provided with copies of
policies, prO￿dUre$. minutest ac£ounts. t*Jdgets, plan5 and other ¢ktumenls that they will need to undertake
their Tole as Trustees. As there are nomially only Iwo or Ihfee new Trustees a year. induction tends lo be
th)ne infomially and is taibred speCif￿11Y to Ihe indiv￿UaI. Organis8tional Structure, A Counul, consists.ng of
all members of the Company, meets four bmes per year and is invofved ￿ major decisions policy
approval. The Charity and Company is administered for rK)m)al business by its Board of Trustees / Board of
Directors, comprising the Execubve GrLXJP. which meets six times per year. A Ch￿f ExecLrtive Offieer and
Company Secretary are appointed by the Trustee5. presenvy both rc4es are undertaken by the same person.
Key management
The Board of Trustees have devcAwJ re5￿￿￿*1"1rtY fc* day to day management of the Chanty to the GuikdHE
office learn led by the Chief Executive offi￿r.
Related parties
None of the Twstees recave remuneration or thr benefit from Iheir work wrth the Charity olher than
reimbursed travel expenses. CVCP ProFert￿S PIC is the landlord for the premtses used by the GuildHE
Offices in Central London. GuildHE part of its offKe 5pxe lo the tharrtable organisth.on Universities
and Colleges Employers Aswiabon lUC&q}.
Sub4$Srtiations
The work of GuildHE's sutrTrassocith contnLRd in the 2024125 ye¥. This indude(l GuildHE Researth, and
UKADIA (UK Arts and Desvjn InstitLthns Ass(xialion).
STATEMENT OF TRUSTEES. RESPONSIBILMES
The trust&s (who are also the directors of Guiklhe Limited for the purposes of company lawl are responsible
for preparing the Report of the Trustees arml the financial sialements in ac￿rdanCe wr(h applicable law and
Unrted Kingdom Aceounb"ng Standard5 (United KirKJdom G￿￿rallY Accepted Acxy)unting Prath"cel.
Company law requires the trustees lo yepare fin￿81 stalery*nts fN exh finan(#al year. Under that law, the
trustees have elected lo prepare the financial statements in accordance with Unrted ltingdom Generally
Aceepled Accounb"rvJ Practi￿ (United lfjngdom Ac£ountsng Stsndards and applicab￿ lawl.
Under company law the trustees musl nrA approve the financial ststements unless they are satisfied that they
give a true and fair vw of the stale of affairs of the charbtsble company and of Ihe incomiryJ resources and
application of resources, including the income and exFendiiure. of ￿ thari￿e company for that ￿riod. In
preparing t￿>se finanryal statements. the tnjstees a￿ required to
select Sutsb￿ WAJntr'ng pdicies and Ihen apply Ihem consistenlty,.
observe the methods and pnncIp￿eS in ts Chanles SORP;
make judgements and estimates that are ￿aSOnab￿ prudent".
stsle whether applicable ac£ountirKJ stsndards have followed, subpth to any material departures
disclosed and extAained in the financkgl stslemenls."
prepare the financial statements on Ihe goiro concem basis unless rt is inappropriate to presume that the
eharitable cofflpany will conth.nue in tmjsiness.
The trustees are resFth%ble for keeping woper accounts.ng records which disclose wrth reasonable accuracy
al any time the finanual positi'on of the chanlabk ccffipany and to ¢na￿e them to ensure that the finanoal
slalements comFAy wth the Compan￿$ Act 2(K6. Tlw are also responsible for safeguarding the assets of
the Charitab￿ company and hence taking reasonab￿ steps for the prevention and deleth.on of fraud and
other irregul*ities.
Page 6

GUILDHE LIMITED IREGISTEReD NUMBER: 02611)￿)
Report of the Trustees
for the Year Ended 31 July 2025
STATEMENT OF TRUSTEES. RESPONSIBILtllES- continued
In so far as the trustees are aware..
there is no relevant audit information ofw￿th dwntab￿ comFfjnls auditors are unaware" and
the trustees have taken all steps that they ￿ght to have taken to make themselves aware of any re￿vant
audit informatw and to estaNhsh that the auditors ￿ aware of that inf0mBb￿.
AUOITORS
The auditors. Knox crOp￿T LLP. wll be Fwposed rwpw)infftnl at the forthcomiThJ Annual GerEral
Meeting.
RprKJrt..of.the_trustees..-incorrM)raling..a.stralpgr.rerM)rt.. appmved hy.nrdec of. the. ho8rd_nf_tni8leRs,.as. .Ihe_
)mpany diredors. on 20 Novembor 2025 and sKJned on the boar(fs beha￿ ty:
Professor K M Sknan- Trustee
Page 7

Rtwt of thè Irulependent Auditors to the hI•M￿lS of
Guildh• Lirnited
Oplnlon
We have audited the finanaal statefnents of Guddhe Limrted Ithe 'thairtable cOm￿Y') for the year ended
31 July 2025 which comprise the Statement of Finanual Ath"wl*S, the Balan￿ Sheet. the Cash Flow
Ststement and notes to the financial statements. indudir#J a summary of signfficant accounlir4J poliues. The
financial repo￿ng framework that has been a￿led in Iheir preparab.on ts appIl￿ble law ￿ United Kingdom
Accounting Standards (United lQ'ngd¢)m Generally Accepted Ac￿Unty.rlj Praclj'cel.
In wr winion the financti41 stalernenls_'
give a true and fair view of the state of the charilatle C¢Yr￿anIS affairs as al 31 July 2025 and of its
incorrmng resou￿$ of r￿￿ceS. ind￿1r￿j its irK￿￿ arnl exF*ThYIlu￿. for the year tt)en
ende(I,"
have been properly prepwed in accordan￿ with United ￿ngdoM Generally Accepted Accounting Practice..
and
have been prepared in a￿ordan￿ with the reqUIren￿ts of the c￿npaneS Act 2c￿.
Basis for opinion
We conducted cyjr audit in accordan￿ wrth Internat￿n31 Standards on A￿lting IUKI IISAS {UKI} and
applicable law. Our respon&bilrties under those standards ￿e fijrlher described in the Auditors,
responsbilities for the aLKlit of the fina￿al str1e￿nts Sect￿ of our rewrt. We are independent of the
charitable company in accordan￿ wth the ethul requirement5 that are rdevant to our audit of the financial
statements in the UK, induding the FRC'S Ethical Standard. and we have frJlfilFed our other ethical
respDn&bilities in xcordance wrth these reqU1rerr￿nts. We believe that the audit evIder￿e we have obtained
is suffic4ent and approprvdte to piovide a basis for our opini￿.
Conclusions relating to golng concem
In 8uditing the financial ststemenls. we have cc¥Kluded that trust￿, use of the going rJ)ncem ba*s of
accountrng in the preparat￿n ofthe finanoal ststen*nts is appropri*e.
Based on the work we have performed. we have not kJenlified any material ￿n￿rtainl￿ rdating to events or
conditions that. individually or col*lively. may cast s￿nIficant doubt on the charita￿e company's ability to
continue as a going con￿rn for a Feriod of at least ￿￿ve months from when the financial statements are
aLrthorised for issue.
Our responsibilities the ￿sponsI1)i1￿es of the trustees vth resF*Ct to goi￿ eorK*m are ¢Je￿bed in the
relevant seCt￿nS of this ￿pOrt.
Other information
The trustees are resw)wble for Ihe othef informalK￿. The other informatson comwises the infomiation
induded in the Annual ReporL other than the financial StateTh￿nts arKI our Report of the Independent Auditors
Ihereon.
Our opinion on the finanaal statements does not cover the other infomatwjn and, ex￿pt to the exlent
otherwise extAiciUy stated in our report, we do not express any form of assuran￿ conclusion thereon.
In connection with our audit of the finanoal st*ments. our responsibilty is lo read the other infonnation a￿1,
in doing so, consider whether the other infomwbon is materially ir￿onSi$tent wrth the financial statements or
our knowledge oblained in the audit or othermse appears to be malerially misstated. If we idenb.fy such
material irwis1ste￿ieS or apparent material mlssts1e￿nts. we are required lo delemiine whether this gives
rise to a material misstatement in the financial statements Ihemsefves. If. based on the work we have
perfomied, we condude that Ihefe is a m8teiial misstalemenl of this other infom)at￿, we are required to
port that fact. We have nothing to ￿port in this ￿3rd.
Oplnlons on other matters prescrlbed by the Companies A¢1 2006
In our opinion. based on the work undertaken in the course of the audrt".
the information given in the Re￿rt of the Truslees for the finaThial year for whith the financaal statements
are prepared is consistent with the finanoal state￿￿nts.. and
the Re￿ ofthe Trustees has been prepa￿ in with aP￿1¢a￿e ￿al reqUireTr￿nts.
Page 8

R•port ofthè IndeF*rthntAuditor5 10 ts Mernber5 01
Guildhe Limited
Matters ¢>D we are required lo report by exception
In the light of the knowledge and understandiw of the charrtable company and rts envir(￿ry￿nt obtained in the
course of the audit, we have rKJt Klents"fied matenal mtsststements in the Report of the TTUStees.
We have nothing to report in resFect of the fdlihw"r¥J matters where the Compan￿$ Ac* 2006 requires us lo
report to you if, in our opinion".
adequate accounting records have rnt been kept cf relurrts •Jequale for w a￿jff£ have not been received
from branches not visited by us., or
the financial State￿￿nIS are nol in agreemenl wliih the acuxJntirvJ reujrds and retums.. or
rtain disclosures of trustees. remuneratKJn speur￿d by law are not made., or
we have not T￿l¥e￿ all the infomiatK)n and ewanations we require for our au¢*L
Responsibilities of trustees
As explained more fully in the Statement of T￿￿tee$. ReS[￿￿￿1￿￿1rtie$. Ihe tnjslees (who are also ￿ directors
ol the charita￿e company for the purposes of company lawl a￿ respon￿ble for the preparation of the
financial otatements and for beiThJ satisfiod that thcy gwe a true and fair view. and for Jjch intomol control as
the trustees detem)ine is necessary to ena￿e the weparation of firtanck41 statements that are free from
material misstatement. whether due to fraud or error.
In preparing the finanoal statements. the tnjstees are responsible for assessng the charrtable ccvnpany's
ability to continue as a going concem. disdosing, as applub￿. matters related to goirrfJ concem and using
the goir4J cOn￿M basis of accounts.ng unkn the trustees either interKI to liquidate the charita￿e company ¢y
lo cease operations, or have no realist￿ altematwe bui to do so.
Oui le5w￿1bIlltles for the a￿lIt of the ffinanciiil sldtements
Our objectives are to obtain reasonaNe assuran￿ about wlWlw the financaal ststemw)ts as a vthole are free
'from material misstslemenL whether due to fraud or error, and lo ISS￿ a Report ol the Independent Audrto
that includes our opinion. Reasonable a$sUra￿e is a hi9h level ol assuran￿, but is not a guarantee that an
a￿JIt conducted in accordance ISAS {UKI will aKvays detect a material misstatement when it exists.
Misststemenls can arise frorn fraud or error ar￿ are considered material if, indivKlually or in the aggregale,
they could reasonably be expected to Influen￿ the e(>)nomic dec3"sion5 of user5 taken on the basis of th
financial ststements.
The extent to which ¢)ur procedures *e capable of de￿Ing irregulariti.es. indudiNJ fraud is detsiled below..
Irregularities, i￿lUding fraud. are inStsn￿$ of Th)n-¢#)m￿l￿ aThJ regUlatK￿$. We design
procedures in line with responsits'lib'es, oullined al￿. to delect maten'al misstslements in respect of
irregularits"es, Including fr￿d. The exient to which our W￿lureS ￿ capaNe of detecti￿ irregularities.
including fraud is detsiled below..
. The Charrty is required to comF4y with charity W and based on our kno• of ils activit￿s, we identified
that was of key s1gnffi￿n¢e.
. We gained an understanding of h(Y4¥ the charity C￿led wilh rts leg* regulatory framework thr(wh
discussions wth management and a wew of the documented wlicies, prfxedu￿s and controls.
The audit team, which is ext*rienced tn the audit of charities. 0)nside￿d the chantys susceptibilty to
alerial mis51alement and how fraud may cwr. Our ¢(￿sIderationS included the risk of management
override.
. Our approach induded reviewngjoumal adjustm￿ aThJ unusual transac11￿.
Thèré are inherent limitati.ons in the audit Kwdures descn.bed a￿Ve and. the futher removed
norKompliance with laws and regulabons is from the events and transacts.ons rellecled in the financial
stalemenls, the less likely we wouhd become aware of rt. The risk of not deteth"ThJ a material misstatement
due lo fraud is higher than the risk of not deteth.ng one resulty.ng fr(xn error, as fraud may involve deliberate
concealment by. fc* examFAe, forgery or InIenti￿al misTetwesentations, or through collu9￿.
A further descripbon of our reswnsikn'lities for the au(kt of the financlal State￿nts is I￿ted on the Financial
Reporting Council's websrte at %w.frc.org.uklauditorsrespM*bi1￿.e$. This descripkn"crf) foms part of wr
Report of the Independent ALKlitors.
P&Je 9

Report ofthe Inde￿t Auditorn to the pAeM￿lS of
Gulldhe Limited
of our report
This rewrt is made solely to the charila￿e ￿r￿an￿S member5. as a tyxly, in ac£ordance vnth Chapter 3 of
Part 16 of the Companies Act 2(X)6. Our audit work has been urvjertaken so that we mxjht slate to the
charitable company's memtr*rs those matters we are required to slate lo them in an auditors, report and lor
no other purpose. To the fullest extent pemiitted by law. we do rKJt accept or assume responsibilrty to anyone
other than the Charitab￿ company and the Charit￿￿ c¢Jnpan¥s rrembers as a bojy. for our audit work. for
this report, or for the opinions we have fom￿.
Neil Wilkinson FCA (sen￿ Statutory Auditor)
for and on behaw of Knox Cropper LLP
Chartered Accountants and Ststutory Audrt¢ys
153-155 London Road
Hemel Hempstead
Hertfordshire
HP3 9SQ
20 November 2025
Page 10

GUILDHE LIMITED
Statwn•nt of Finartial Aclivitie5
for the Year Ended 31 July 202S
2025
Unrestrictad
nds
2024
Total
funds
Notes
INCOME AND ENDOWMENTS FROM
Charitable a¢tiviti88
PromotIc￿ of h¢gher educatM)n
1.076.644
1,098,041
Inveslmenl income
44.710
31.699
Totsl
1,121.354
1,129,740
EXPENDITURE ON
Charitsble activilo8
Promotion of higher ed￿￿tiOn
1.062,663
1.132,478
NET INCOMEI{EXPENDITURE)
Other r￿OgnIsed gainslllosses)
Actuarial gains on defined ￿nefit scheffes
58.671
12.738)
420,492
Net movement in funds
58.671
417.754
RECONCILIATION OF FUNDS
Total funds brought forward
1.571.389
1.153.635
TOTAL FUNDS CARRIED FORWARD
1.630,060
1.571,389
The no￿5 IC￿ part ofllwe ￿n?￿jaI Stal￿
P•Je11

GUILDHE LIMITED (REGISTERED NUMBER: 02600590)
Balance Sheet
31 July 2025
2025
urnrestr￿ted
fund5
2024
To¢al
fuThl$
FIXED ASSETS
Taroible assets
11
7.082
8.121
CURRENT ASSETS
Deblors
Cash at bank
12
89,086
1.591,873
78,8C6
1.605.819
1.680,959
1.684,625
CREDITORS
Amounts falling due wrthin one year
13
157.9811
1121.357}
NET CURRENT ASSETS
1.622.978
1.563,268
TOTAL ASSETS LESS CURRENT
LIABILITIES
1.630.060
1.571,389
NET ASSETS
1.630.060
1.571,389
FUNDS
Unfeslrthd furKIs
15
1,630,060
1,571.389
TOTAL FUNDS
1.630.060
1,571,389
The financial stslements were approved by Board of Trustees aThJ authorised for issue
20 November 2025 and were on its behaw ty.
K M Sban- Trustee
P¥12

GUILDHE LIMITED
Cash Flow Statem•nt
for the Year Ended 31 Juty 2025
2025
2024
es
Cash flows from operating a¢ti¥•ties
Cash generated from operabons
Interest paid
(56,247)
1228)
40,843
Net cash {used inyprovided by operab.rg actNrfies
(56.475)
40.843
Cash flows from Investing 8¢ti¥ities
Purthase of tsngible fixed assets
Interest re￿Ved
(2,181)
44,710
16,3951
31,699
Net cash F¥ovided by invesbng activibes
42.529
25.304
Change in cash and Cash equivalents
in the reporting period
Cash and ¢a$h equivalents at the
bèginning of the reporting period
113.946)
66.147
1.605.819
1,539.672
Cash and cash oquiyalents atlhe end
of the reporting perlod
1.591.873
1,605,819
The notes fonn part Oft￿ slatements
P•Je13

GUILDHE LIMITED
Notes lo the Cash Flow Ststem•nt
lor the Year Ended 31 July 2025
RECONCILIAMON OF NET INCOMEI(EXPENDfwREI TO NET CASH FLOW FROM OPERATING
ACTIVITIES
2025
2024
Net incomelloxpenditurel forthe r?￿rtIng period las perthe
Statement of Financial Activities
Adjustments for..
DepreciatKJn charges
Loss ￿ dist)osal of fixed assets
Interest re￿1ve￿
Inleresl paid
Ilncreaseydecrease In debtors
(Decreaseyincrease in cxeditors
Differen￿ bets¥een tharge and cash ¢￿trit￿￿￿.0nS
,671
12.7381
3.220
2,156
425
{31,6991
{44.710}
228
{10.2801
(63.3761
35,835
42,135
{5,2711
Net ￿$b (used inyprovided by operations
156.2471
40,843
ANALYSIS OF CHANGES IN NET FUNDS
At 1.8.24
Cash fitr
At 31.7.25
Net cash
Cash at bank
1,605.819
113.946)
1,591,873
1,605.819
113.946)
1,591.873
ToLI1
1,605,819
113,946)
1,591.873
14

GUILDHE LIMITED
Not•s to the Financial Stat•m•nis
for the Year Ended 31 July 2025
ACCOUNTING POLICIES
Basis of preparing the financial stslements
The financial ststen*nls of the ch8ritab]e company, which beneffil entity under FRS 102,
have been Plepa￿d in accordan￿ vdth the chanb.es SORP IFRS 1021 'A(￿UntIng and Reporting by
Charities". Slalement of Recommended PraCt￿e aP￿1¢able lo charib.es preparing their accoun15 in
accordan￿ with the Financial ReFKJrting Standard applicable in the UK and Republic ol I￿land IFRS
102} leffec*"ve 1 January 20191.. Finanaal Reports"rrfJ Standard 102 'The FinancAal Report(ThJ Standard
applicable in the UK and Republ￿ of Ireland. and the Companies Act 2CC6. The financial stslemenls
have been prepared under the historicd cost conventic￿.
Critical accounting judgements and key sources of estimalion uncertainty
Ests"male5 and judgements are ￿nbnUallY evaluated and are based on histoncal experience and other
factor5, including expectstKJns of future events that are beI￿Ved to be reasonable ￿r￿er the
circumstances.
Critical accounting estlmales and assumptions:
The company makes eslimales and assumptKyis conceming futu￿. The ￿SU￿n9 ￿COUn￿.ng
estrmales and assumpts'ons wll, by definthon. seklom equal Ihe related 8ciual resulls. The estimates
and assump1K￿$ that have a ggntfranl risk of causing a material ajjustmenl to the carrying amounts
of assets and liabdibes wrthin the next financial year are dI￿￿SSed
Criti￿1 arth￿ ol judgornent:
FRS 102 makes the distinction befvw a group ￿an and a mulbomployer scheme. A group plan
consists of a collection of entities under comrrnn c￿trOl typically with a sponsoriNJ employer. A
mutti*mpk)yer scheme is a scherrE for enbts.es not under common L￿trol and represents itypirallyl
an industry-wide scheme such as univer5its.es Superannualion Scheme. The accounting for
mutti-empkjyer scherne where the employer has entered into an agreement wth the scheme that
determines how the em￿0yer will fund a deficit resums in the recognition of 8 liabilty for the
contributions payable that arise from ihe agreement (to the extent thèt they ￿late lo the defi(#tl and the
resuAirvJ expense being recLvJnised thrwjh the ststement of finanual act￿￿"e$..
Income
All income is recognised in the Ststement of Fin￿la1 Actiwbes m the charty has entit*menl lo the
funds, il is Probable that the Ir￿Me wdl tre recwved arKI the amount can t* measured Teliably.
Income lax reCOvera￿e in rela￿n to investment incAM￿ is recojnised at the time the inveStn￿t
incon* is receivatAe.
Expenditurn
Liabilities are recognBed as expenditure as SCKsn as there is a legal or ￿$truCtIve obligation
committ]'ng the charty lo that expendrture. (( is probable th* a transfer of ecorK)mic benefits will be
required in settlen*nt aThJ the amount of the obligation fAn be measured reliably. EX￿ndrtUre is
aecounled for on an aux￿1$ basis and has ￿en dassified under heajings that ￿gregate all ￿st
related io the category. Where costs cannot be dwectly attributed to paitthlar headings they have been
alIC￿￿j to actiwties on a basis conS￿tent wth tt* use of reswrces.
Tangible fixed assets
Depreciation ￿ wovided at the fc4b>wir4J annLwI rates in order to write off each asset oveT its e51imaled
useful life.
Fixtures and ffttings
Computer equipment
20% on cost
25% on cost
Taxation
The charity is exempt from ¢￿[￿Nation lax its Charitab￿ acti￿1￿.
Pa9e 15
ntinue¢J...

GVILDHE uMrrED
Notes to the Fina￿la1 Ststements- continued
for the Year Ended 31 July 2025
ACCOUNTING POLICIES- Continued
Fund accounting
Unrestricted fiMKls can be used in &c))rdwKe wth the rtharitable obj'ecbves at the discretion of the
Iwslees.
Dewgnated funds compiise unrestricled fuThJs that have been sel aS￿e by the trustees for particular
purposes. The aim and use of each deS￿nated fund is set out in the notes to the financial statements.
Further explanalion of nature and purwjse of eath is included in the notes to the financial
ststements.
Pension Costs and other postrfelirement b•n•fits
The Charity parh"cipates in UnNersrt￿s sU￿rannUat￿In Sc4*me. The assets of the stheme are held in
a separate tnjslee-adminislered fund. Because of the mulual nattjre of the scheme, the assets are not
attributed lo indwmlual insb"tubons and a schem￿WIde 0)nth.butiL￿ Qte is set. The insbtulion is
therefo￿ exposed lo actuarial risks asswated wrth other institub"ons' emrAoyees and is unable lo
identfy rts share ol the underfying assets and 1kAkn"1￿"eS of the stheme on a ￿nSistent and reasonab
basss. As required by accountirKJ stsndards. ￿m￿OYee benefits-. the instrtution therefore accounts for
the ￿herne as rf it were a defined ￿ntr1￿XIlIon scheme. As a result. the amour¢t tharged lo the
stslement of financK41 *ivities represents the contributions payatAe to Ihe scheme Since the
institution has entered into an agreement (the Recovery Plan} that detemiines how each employer
within the scheme wll fund the overall deT￿lt, Ihe instrtution reccgnises a lia￿litY for the contributKJns
payab￿ that anse from the agreement (to the extent that they relate to the defiut} wrth related
expenses beiThJ recognised through the statemert of financial aclmties.
INVESTMENT INCOME
2025
2024
Deposit accAwnt interest
44,710
31,699
INCOME FROM CHARITABLE ACTlVtriES
2025
2024
£b"vity
Memkrship subscriptions Promth"on of higher ￿jU¢8b"0n
Conferences and events
Promotion of higher educatr)n
Othei income
ProrThSion of hyher edUCat￿n
1.038.847
35,652
2.145
1.057.801
29,866
10,374
1.076.644
1,098,041
16
ntinuBd...

GUILDHE LIMITED
No¢es to th• Financial stat￿frnts- c¢niwiued
forth8 Y•ar Ended 31 July 2025
CHARITABLE ACTMTIES COSTS
Supwrt
costs Isee
Ditect
Costs
Totals
Promokn"on of h￿her educalK
656.588
406,095
1,062,683
SUPPORT COSTS
Totals
Promob"on of higher educath"c
294,070
2.182
109,843
406,095
NET INCOMEI(EXPENDmJRE)
Net incomellexpenditurel is staled after chargirwJllcre(libThJ)'.
2025
2024
Auditors, remu￿ra￿n
Audilors. remuneration for non audié wc*k
Depreoalion- owned as5els
Deficit on th"sposal of fixed assets
7,440
1.500
2.155
425
TRUSTEES. REMUNERATK>N AND BENEFrrs
There We￿ no truslees. remuneration or other ￿fftS for ts year ended 31 Juty 2025 ft)r the year
ended 31"July 2024.
Trustees. expenses
There were no trustees. extenses paid for the year ended 31 Juty 2025 rKJr for the year ended
31 July 2024.
STAFF COSTS
2025
2024
Wages and s81aries
Social security costs
Other pension costs
556,329
57,606
67,490
574,020
60.838
71.337
681,425
706,195
The average mnlhFy numLw of emKAoyees durir#J the year was as folk)ws.'
2025
11
2024
10
Stsff
Management
12
Page 17
conts"nued...

GUILDHE LIMITED
Notes to tho Financial Statements- conltnued
for the Year Ended 31 July 202S
STAFF COSTS - continued
The number of empjoyees whose employee tenefits lexciuding empioyer pension cost$) exceeded
£60.000 wa5".
2025
2024
£60,(KJ1 - £70,0
£90.001 - £11J).(JJJ
£110,001 - £120,¢X(J
All trustees and certsin senKK employees who have aUlh￿lty for planning, directiThJ and controlling the
activities of the Charity a￿ consKJered to be key personnd. Total remuneraknon (including National
Insurance and pension (￿tribU￿.(￿S) these iThIi¥ith￿IS is £146.918 (2024.. £145,959).
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTivmES
Unrestricted
lurvjs
INCOME AND ENDOWMENTS FROM
Charitable activities
Promotlon ol higher edu&alic¥)
1,ce8,041
Inveslmenl In￿ne
31,699
Total
1,129,740
EXPENDITURE ON
Charitable activities
Promotion of hwJher education
1.132,478
NET INCOMEI{EXPENDITUREI
Other recognised gains1{losses}
Actuarial gains on defined tenefrt
scheme5
12,7381
420,492
Net movement in funds
417,754
RECONCILIATION OF FUNDS
Total funds brought f(IN4ard
1,153,635
TOTAL FUNDS CARRIED FORWARD
1.571.389
P4e 18
cLJntinued...

GUILDHE LIMITED
Notes to the Flnancial Statem•nts . tontinu#d
forthe Year Ended 31 July 2025
10.
PENSION SCHEME
Universities Superannuation Scheme
A deficit recovery plan wa5 pul in ￿8¢e as part of the 2020 valuakn"on. It required payment of 6.2% of
sabries over the Feriod 1 2022 unb"131 March 2024. at whth wnt the rale woukd increase to
6.3'/0. No deficrt recovery plan was required under the 2023 valuats.on because the scheme was in
surplu5 on a technical wovisK)ns bays. The inst"tulicffl was rKJ knnger required to make defiat recovery
contributions from 1 January 2024 and acLX)rdryly rekased the outstandiThJ provison lo th8 Stslernenl
of income and expenses n the pnor year.
The lalesl available cornp￿e ￿tUa￿al valuath)n of the Retirement Incorre Builder. the defined benefit
part of the scheme, is as at 31 March 2023 (the valuation dale). which was carried out Using the
proje￿ed unit methc*J.
Since tl* instrtuthJn cannot identsfy rts share of the Retirement Income Builder (defined benefftl assels
and lokn"lrties, the fdlowiThJ disclosures rellect those rdevant for those assets aThJ liabilities as a whole.
The 2023 valuab.on was the seventh valuation for the scheme under the scheme-speofi¢ fundirKJ
regime introduced by the Pensions Act 2(h)4, whth requires schemes to have sufficient and
appropriate a55ets to Gjver their technical proviS￿S (the statLrtory funding obiectivel. At the valuation
date, the value of the assets of the scheme was £73.1￿ arKI the value of the scheme's techThcal
provisions was £65.7bn induling a Sufplus of £7.4th and a funding ratK) of 111%.
The chanty pa￿cipate$ in tts saary wifi￿ p￿￿K)n scheme. The staff costs (note 81 show5 the
pensKJnable salary whit* indudes the empbyee salary $￿ficE elemenL The (x)mpany contribution
rate payable is ¢urrenUy 14_5¥0 of pensionable salaries_
As at 31 July 2025 the company had 10 active members partiipating in the $d￿n￿.
The totsl penS￿n ￿$t for th8 Ch￿ was £67,4￿1(2024." £71,337).
11. TANGIBLE FIXED ASSETS
Fixtures
equpment
Totals
COST
At 1 August 2024
Additions
59,959
25,975
2.181
85.934
2.181
At 31 July 2025
59,959
28,156
88,115
DEPRECIATION
At 1 August 2024
Charge ￿ year
59.959
17.854
3320
Tl.813
3,220
At 31 July 2025
59,959
21.074
81.033
NET BOOK VALUE
At 31 July 2025
7,082
7.082
At 31 July 2024
8.121
8,121
Page 19
continued...

GUILDHE LlhllTED
Notes to thé Financoal Ststements- eontinuèd
fr•r the Year Ended 31 Juty 2025
12. DEBTORS: AMOUNTS FALLING DUE WIThIN ONE YEAR
2025
2024
Trade debtor5
Other debtors
19.275
1.163
3,479
65,169
13,180
65,626
Prepayments
89,086
78,806
13. CREDITORS: AMOUNTS FALUNG DUÉ WtfHIN ONE YEAR
2025
2024
Trade credil¢Js
Social security and other taxes
Other ¢￿ditOrS
A¢￿￿1$ and deferred incorr
12,649
14.776
20.608
8,802
77.171
17.386
27.946
57.981
121.357
14. LEASING AGREEMENTS
Minimum lease paymenls under n¢)r￿an￿11ab1e rwating *s fal5 due as folky•4s'.
2025
2024
Within one year
Befvleen one and five years
79.453
23,174
79,453
102.626
102.627
182.079
15. MOVEMENT IN FUNDS
Net
At
31.7.25
At 1.8.24
Unrestricted funds
General fund
Memt*rs' project fuNJ
Asset growth fund as recc#3nit*)n of
pension defvl
751,389
120,000
58.671
810,060
120,000
71)0.1)00
700,000
1.571.389
58.671
1.630,060
TOTAL FUNDS
1.571.389
58.671
1.630.060
Pwje 20
conb"nued...

GUILOHE UMITED
Note5 to the Financtal StatwTrents- ￿nIInued
for the Year Ended 31 July 202S
15.
MOVEMENT IN FUNDS- continued
Net rth)vement in funds, i￿luded in ￿ atThe a￿ as folbws".
Inc(mirg
Resour
Movement
in funds
Unrestrtcted funds
General fund
1.121.354
11.062.683)
58.671
TOTAL FUNDS
1.121,354
11.062,6831
58.671
Comparatives lor mov•m•nt in
At
31.7.24
At 1.8.23
in funds
Unrestricted funds
Gefieral ftjnd
Members. project fvnd
Asset growth fund as reccgnth.on of
pension deficit
333.635
120.CiIO
417.754
751,389
120,000
T￿.0cl)
700,000
1,153,635
417.754
1,571.389
TOTAL FUNDS
1,153,635
417.754
1,571,389
Comparative net movement in funds. indudgj in the at￿ye are as folkys..
Ir￿￿1￿
Gains aTh
losse5
Movement
in funds
Unrestricted funds
General fund
1.129.740
11.132.478)
420,492
417,754
TOTAL FUNDS
1.129,740
(1.132,4781
420.492
417,754
P*JÈ21
ntinued..

GUILDHE LMIITED
Note5 to the Financial Statements- contiTh*d
for the Year Ended 31 July 2025
15.
MOVEMENT IN FUNDS- continued
A current year 12 months and Fmr year 12 months comtAned F•JSitIc￿ is as follows..
Net
At
31.7.25
At 1.8.23
I fuT¥J5
Unrnstricted funds
General fund
Members, project fund
Asset growth fund as recc¥Jiwbon of
pension deficJt
333,635
120.fKKJ
476.425
810,060
120,IXIO
7(Kl.C
700,000
1,153,635
476,425
1,630.060
TOTAL FUNDS
1.153.635
476,425
1.630.060
A current year 12 rnonlhs and pricf year 12 rThJnths combin&J net rr*)vement in fijnds. induded in the
above are as follcNts'.
IncorniThJ
Resources
Gains aTr
Movement
) funds
Unrestrictsd fvnds
General fund
2.251.094
12,195.161)
420,4¥2
476,425
TOTAL FUNDS
2.2S1,094
{2,195.161)
420,492
476.425
Members. project fund
The Members, Prqed Fund rewesents fundiro for m￿15, interests that may not be met in full frr
membership subscriptions in any one year.
Asset growth fund as I￿ogni1•On of pension deficit
The fund represents anK)unts set aside for the wtential cryslallisatkyj of the Ik8bJJty associated with
the charity's membership of the Universities Pension Stheme. Detals of how the liabl￿'ty is Ireated is
sel out in note 10.
16.
RELATED PARTh DISCLOSURES
Owiry to the nature of the charitls yrations and the comF*)S￿On of the txJar(l (rf trustees being
¢Jrawn from public seclor and private sector organisab'ons transactions may take pla￿ with
organisab.ons in which a trustee has an inte￿$t. Al transactM)ns involving suth organisats'on are
conducted in *£ordarrE with the chanVs financial ￿￿131￿1n$ and nomial pr(￿re￿￿nI prccedures.
No related party transacb.ons loc1( plw* in the year. Transa&1￿$ wrth memLEr institutions wtr
trustees have an interest have not ￿en disdosed as they do not meet the definib.on of a reEaled party.
Paje 22
continLEd...

GUILDHE LIMITED
Notes lo fv Flnancial Staternents-clwrtinued
for the Year Ended 31 Juty 2025
17.
ULTIPMTE CONTrOLLING PARTY
The charity is controlkd by its ffleMbe￿.
Page 23