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2022-10-31-accounts

Page
Reference and Administrative Details ofthe Charity, its Trustees and Advisers
Trustees'
Report
2-23
Independent Auditors'
Report
on the Financial Statements 24 —27
Consolidated Statement of Financial Activities 28
Consolidated Balance Sheet 29
Charity Balance Sheet 30
Consolidated Statement ofCash Flows 31
Notes to the Financial Statements 32-59
Appendix
I —Charity Statement
of Financial Activities
Appendix
II
—Charity Statement ofCash Flows
Appendix
III
—Charity Income

Trustees S Evans, President
J C Blackburn
A J Daymond
(appointed
2 April 2022)
J E Hall
E Ingle
SJ M Kelly
H M Pringle
C Powell (resigned 30 November
2022)
S L Roberts (resigned 11 February 2023)
P M Tanton (appointed 2 April 2022)
H Vivian (resigned 2 April 2022)
SBWarren (resigned 13 November 2021)
M J Williams
M C Yeodal
Company registered
number 03447631
Charity registered
numbers 1067361and SC043174
Registered office St Anthony's
Hall
Peasholme
Green
York
North Yorkshire
YO1 7PW
Company secretary M C Greensmith
Chief executive officer C Gatman
Independent auditors Clive Owen LLP
Chartered
Accountants
S Statutory Auditors
140Coniscliffe Road
Darlington
County Durham
DL3 7RT
Bankers Unity Trust Bank pic
4 Brindley Place
Birmingham
B12JB
COLA Investment Management
1 Angel Lane
London
EC4R 3AB
Solicitors Redkite Solicitors
Natwest
Bank Chambers
12The Homend
Ledbury
Herefordshire
HRS 1AB

Executive Committee
Sheri Warren (President —resigned 13 November 2021)
Sheila Evans (Vice President
- Acting President 13November
2021 —appointed
President
2 April 2022)
Helen Pringle (Membership)
Jenny
Hall
(Education)
Melanic Williams (Collections
& Heritage)
Elizabeth
Ingle
(Communications)
Jane Blackburn (Treasurer)
Guild Officers
Gill Clark (Festival of Quilts Officer)
Linda Bilsborrow (Interim
National
Website
Officer —appointed December 2021)
Julie Edwards (Bursaries
Officer)
Lis Tate (Library Officer)
Carol Fieldhouse (International
Officer)
Lisbet Borggreen (Quilt Judging
Committee
Chair- resigned August 2022)
Stephanie
Pettengell
(Quilt Judging
Committee
Chair —appointed August 2022)
Allison James (Education
Officer)
Rose Horton-Smith (Heritage Officer —resigned January 2022)
Anne Gosling (Guild Accountant)
Kathryn
Thompson
(Event Officer —resigned April 2022)
Christine
Adey
(National
Young Quilter Officer)

There is a a risk management risk management risk management risk management strategy
by which
trustees
annually
review
the risks
strategy
by which
trustees
annually
review
the risks
strategy
by which
trustees
annually
review
the risks
faced faced by the charity the charity the charity and
establish procedures to mitigate the risks identified
by the charity. 2021/22 saw the pandemic
continue to have
an impact. Trustees continue to review
The Guild's
risks closely
and
to adjust as necessary
to ensure all
circumstances have been considered.
The most significant
risks identified
by the Trustees
continue to be those
highlighted in the following table and minor adjustments
have been made to reflect evolving
circumstances:
RISK MITIGATION
Failure to deliver an attractive ~ On-going
work to increase benefits for members
offer to members ~ Strive to increase understanding
of charitable
purpose
amongst
members
~ Training
&encouragement
of regional committees
~ Regular
review ofworking
practices and adaptation
as required
~ Membership
survey and focus group feedback
~ Sub-committee
review
Loss of membership income ~ Constant
review of membership
offer
growth or absolute loss in ~ Openness
to changing
processes and services
membership numbers ~ Appointment
of marketing
adviser/trustee
~ Provide alternative
means of viewing the Guild Collection
~ Apply for funding
~ Change staff responsibilities
to take online recruitment
forward
~ Recruit marketing
expertise
~ Ensure
membership
fees are appropriate
vs cost
of operation
and technolo
Technological change ~ Continue to develop
/ review website and technological
position,
including website skills and personnel
~ Be digitally
active and constantly
improving
—cyber security
as
a priority
~ Ensure
availability
of appropriate
equipment
to facilitate
home
working or working
from different premises
~ Ensure
staff have
appropriate
skills
in changing
technological
world or recruit same
~ Ensure emergency
plan is up to date and regularly
reviewed
~ Ensure tech
artners are suitable and cost effective

Unrestricted Restricted Total Total
funds funds funds funds
Note 2022
F
2022
f.
2022f 2021f
Income from:
Donations
and
legacies 49,198 4,952 54,150 117,152
Charitable
activities
259,293 1,272 260,565 159,202
Other trading
activities
324,518 8,154 332,672 318,529
Investments 2,055 587 2,642 498
Total income 635,064 14,965 650,029 595,381
Expenditure
on:
Raising funds 29,213 29,213 33,124
Charitable
activities
9 721,818 32,453 754,271 573,963
Total expenditure 751,031 32,453 783,484 607,087
Net expenditure before net
(losses)/gains on investments (115,967) (17,488) (133,455) (11,706)
Net (losses)/gains on investments (992) (992) 2,470
Net expenditure before taxation (115,967) (18,480) (134,447) (9,236)
Taxation 1,099 1,099 (13)
Net movement in funds (114,868) (18,480) (133,348) (9,249)
Reconciliation of funds:
Total funds brought forward 586,663 133,512 720,175 729,424
Net movement in funds (114,868) (18,480) (133,348) (9,249)
Total funds carried forward 471,795 115,032 586,827 720,175

CONSOLIDATED BALANCE SHEET
AS AT 31 OCTOBER 2022
Note 2022f 2021f
Fixed assets
Intangible assets 14 39,569 23,858
Tangible assets 15 17,098 26,435
Investments 16 9,124 10,116
65,791 60,409
Current assets
Stocks 17 11,781 13,686
Debtors 18 41,248 17,826
Cash at bank and in hand 647,760 802,120
700,789 833,632
Creditors: amounts falling due within one
year 19 (179,753) ff73,866)
Net current assets 521,036 659,766
Total assets less current liabilities 586,827 720,175
Total net assets 586,827 720,175
Charity funds
Restricted funds 20 115,032 133,512
Unrestricted
funds
20 471,795 586,663
Total funds 586,827 720,175

SEvans
President Chair ofthe Audit Com tee

FOR T HE YEAR ENDED 31 OCTOBER 202 2
2022f 2021f
Cash flows from operating
activities
Net cash used
in operating
activities
(134,431) 31,396
Cash flows from investing
activities
Dividends,
interests
and rents from investments
2,641 498
Proceeds from the sale oftangible
fixed
assets 420 30
Purchase of intangible
assets
(21,096) (11,196)
Purchase of tangible fixed assets (1,894) (14,338)
Net cash used in investing
activities
(19,929) (25,006)
Cash flows from financing
activities
Net cash provided
by financing
activities
Change
in cash and cash equivalents
in the year (154,360) 6,390
Cash and cash equivalents
at the beginning
ofthe year 802,120 795,730
Cash and cash equivalents
at the end
of the year 647,760 802, 120
The notes on pages 32 to 59form part ofthese financial statements

Fixtures and fittings 10% straight line
Office equipment 20% straight line
Computer equipment 33% straight line

Unrestricted Restricted Total
funds funds funds
2021f 2021 2021
Donations
and
sponsorship 5,488 2,887 8,375
Grant income 66,250 3,000 69,250
Gift Aid income 39,472 55 39,527
111,210 5,942 117,152
Income from charitable activities
Unrestricted Restricted Total
funds funds funds
2022
F
2022f 2022
E
British Quilt Studies Group 16,954 16,954
Contemporary Quilt 16,235 16,235
Judging
Course
15,213 15,213
Education
and
outreach 1,272 1,272
Communication
Miniature
Quilt
Group 3,682 3,682
Regional activities 134,266 134,266
Traditional
Quilt Group
3,597 3,597
Modern
Quilt Group
4,746 4,746
The Loft 1,732 1,732
FOQ events 23,737 23,737
Conference
and magazine
advertisements 39,131 39,131
259,293 1,272 260,565

Unrestricted Restricted Total
funds funds funds
2021 2021 2021
6 6
British Quilt Studies Group 5,376 5,376
Contemporary
Quilt
8,662 8,662
Judging
Course
6,715 6,715
Education
and outreach
1,096 1,096
Communication 19,500 19,500
Miniature
Quilt Group
1,506 1,506
Regional activities 91,029 91,029
Traditional
Quilt Group
3,890 3,890
Modern
Quilt Group
4,083 4,083
Conference
and magazine
advertisements 17,345 17,345
158,106 1,096 159,202

Unrestricted Restricted Total
funds funds funds
2022 2022 2022
F
Fundraising 4,160 8,071 12,231
Membership subscriptions 289,610 83 289,693
Other income 3,100 3,100
Retail sales 27,648 27,648
324,518 8,154 332,672

Unrestricted Restricted Total
funds funds funds
2021
6
2021 2021f
Fundraising 7,110 7,110
Membership subscriptions 273,781 505 274,286
Other income 2,662 2,662
Retail sales 34,471 34,471
310,914 7,615 318,529
Investment income
Unrestricted Restricted Total
funds funds funds
2022f 2022f 2022
Income from local listed investments 2,055 587 2,642
Unrestricted Restricted Total
funds funds funds
2021
6
2021
6
2021f
Income from local listed investments 53 445 498

Unrestricted Total
funds funds
2022 2022
F
Museums and Galleries Exhibition Tax Relief refund 1,086 1,086
Unrestricted Total
funds funds
2021 2021
6 6
Corporation Iax charge 13 13
Page 40

Unrestricted Restricted
funds funds Total
2022f 2022
F
2022
6
721,818 32,453 754,271
Unrestricted Restricted
funds funds Total
2021 2021
6
2021f
524,005 49,958 573,963

Activities
undertaken Support Total
directly costs funds
2022
E
2022
F
2022f
Charitable activities 370,680 383,591 754,271
Activities
undertaken Support Total
directly costs funds
2021 2021 2021f
Charitable activities 251,720 322,243 573,963

Total Total
Activities funds funds
2022 2022 2021
F F
Staff costs 6,680 6,680
Anne Morgan Legacy 766 766
British Quilt Study Group 16,423 16,423 4,038
Collections'
Management
50 50 459
Communication 100,930 100,930 92,390
C Q Award 100 100
Contemporary
Quilt
12,682 12,682 7,259
Doris Debney Fund 100 100
Education 11,646 11,646 5,012
Life membership
income release
5,093 5,093 5,066
Mary Ann Corp Fund 14,513 14,513 11,979
Membership 5,282 5,282 10,877
Miniature
Quilt Group
2,638 2,638 1,004
Modern
Quilt Group
1,681 1,681 1,185
Conference 38,931 38,931 2,195
QGBI - Education
and Travel Scholarship
2,284 2,284 4,649
The Quilters
Guild Collection
4,387 4,387 2,169
Regional
activities
134,500 134,500 66,639
Sue Belton Award 9 9 615
Sue Ridgwell Trophy 76 76
The Loft 1,020 1,020
Traditional
Quilt Group
3,855 3,855 3,085
The Leche Trust 4,735
Founder Members'
bursary
500
Heritage
Lottery Fund 2020
11,130
Young Quilters'
Project
7,034 7,034 16,734
370,680 370,680 251,720

Total Total
Activities funds funds
2022 2022
F
2021f
Staff costs 259,801 259,801 212,625
Amortisation
of computer
software 5,385 5,385 5,748
Audit and accountancy charges 12,800 12,800 9,550
Bank charges 4,849 4,849 7,946
Computer
maintenance
17,450 17,450 16,762
Depreciation
of fixtures,
fittings & equipment 10,621 10,621 7,153
Equipment
hire and maintenance
1,667 1,667 2,581
General insurance 7,107 7,107 6,830
Printing,
postage and stationery
10,027 10,027 9,081
Premises costs 30,594 30,594 31,163
Professional fees 1,089 1,089 2,465
Sundries 4,842 4,842 6,865
Telephone
and internet
978 978 664
Travel and subsistence 499 499 27
Governance
costs
15,882 15,882 2,783
383,591 383,591 322,243
Auditors'
remuneration
2022 2021
Fees payable to the Charity's auditor for the audit ofthe Charity's annual
accounts 10,750 8,225
Fees payable to the Charity's auditor in respect of:
All taxation
advisory services
not included above 600 575
All non-audit
services not included
above 750

Staffcosts
Group Group Charity Charity
2022 2021f 2022f 2021f
Wages and salaries 253,975 215,758 244,914 195,547
Social security costs 14,446 11,063 14,402 11,063
Contribution to defined contribution pension
schemes 7,121 6,015 7,071 6,015
275,542 232,836 266,387 212,625
Group Group Charity Charity
2022 2021 2022 2021
No. No. No. No.
Employees 14 13 12 13

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022
14. Intangible assets
Group
Computer
software
6
Cost
At 1 November 2021 37,245
Additions 21,097
At 31 October 2022 58,342
Amortisation
At 1 November 2021 13,387
Charge for the year 5,386
At 31 October 2022 18,773
Net book value
At 31 October 2022 39,569
At 31October 2021 23,858

Intangible asse ts (continued)
Charity
Computer
software
Cost
At 1 November 2021 37,245
Additions 21,097
At 31 October 2022 58,342
Amortisation
At 1 November 2021 13,387
Charge for the year 5,386
At 31 October 2022 18,773
Net book value
At 31 October 2022 39,569
At 31 October 2021 23,858

Fixtures and Office Computer
fittings equipment equipment Total
F
Cost or valuation
At 1 November 2021 72,654 11,626 54,274 138,554
Additions 214 448 1 231 1,893
Disposals (370) (797) (1,167)
At 31 October 2022 72,868 11,704 54,708 139,280
Depreciation
At 1 November 2021 71,321 6,544 34,254 112,119
Charge for the year 611 1,610 9,009 11,230
On disposals (370) (797) (1,167)
At 31 October 2022 71,932 7,784 42,466 122,182
Net book value
At 31 October 2022 936 3,920 12,242 17,098
At 31October 2021 1,333 5,082 20,020 26,435
Charity
Fixtures and Office Computer
fittings equipment equipment Total
F
Cost or valuation
At 1 November 2021 61,643 11,371 54,274 127,288
Additions 1,231 1,231
Disposals (370) (797) (1,167)
At 31 October 2022 61,643 11,001 54,708 127,352

Charity (continued)
Fixtures and Office Computer
fittingsf equipment f equipment Totalf
Depreciation
At 1 November
2021
60,871 6,363 34,254 101,488
Charge for the year 423 1,585 9,009 11,017
On disposals (370) (797) (1,167)
At 31 October 2022 61,294 7,578 42,466 111,338
Net book value
At 31 October 2022 849 3,423 12,242 16,014
At 31October 2021 772 5,008 20,020 25,800
16. Fixed asset investments
Investments
Group F
Cost or valuation
At 1 November
2021
10,116
Revaluations (992)
At 31 October 2022 9,124
Net book value
At 31 October 2022 9,124
At 31October 2021 10,118

17. Stocks
4,120
Group Group
2022f 2021f
Raw materials and consumables 11,781 13,686
18. Debtors
Group Group Charity Charity
2022f 2021 2022f 2021f
Due within one year
Trade debtors 14,990 1,457 14,243 1,306
Amounts
owed by group undertakings
28,560 36,148
Other debtors 996 996
Prepayments and accrued income 25,262 16,369 25,113 9,609
41,248 17,826 68,912 47,063

Group Group Charity Charity
2022f 2021f 2022
6
2021
Trade creditors 9,232 10,560 9,172 7,997
Other taxation and social security 5,542 4,496 4,284 3,852
Other creditors 470 150 320
Accruals and deferred income 164,509 158,660 159,990 154,965
179,753 173,866 173,766 166,814
Group Group Charity Charity
2022 2021 2022 2021
6 8 6
Deferred Income at 1 November 2021 139,481 137,172 139,481 137,172
Resources deferred during the year 150,684 139,481 150,684 139,481
Amounts released from previous periods (139,481) (137,172) (139,481) (137,172)
150,684 139,481 150,684 139,481
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Statement
offu
nds - prior year
Balance at Balance at
1 November Transfers Gainer 31October
2020 Income
f
Expenditure inlout
6
(Losses)
6
2021
Unrestricted
funds
Designated
funds
British Quilt
Study Group
Fund 19,616 5,376 (4,038) 20,954
Collections'
Management
Fund 8,444 2,320 (459) (735) 9,570
Contemporary
Quilt Fund 17,504 8,662 (7,259) 18,907
Founder
Members'
Bursary Fund 904 (500) 404
Judging
Courses 23,604 6,715 (4,369) 25,950
Life
Membership
Fund 29,463 5,400 (5,066) 29,797
Miniature
Quilt
Group Fund 6,485 1,506 (1,004) 6,987
Modern
Quilt
Group Fund 9,910 4,083 (1,185) 12,808
Regional
Funds
(General) 145,618 91,029 (66,639) 170,008
Traditional
Quilt
Group Fund 11,110 3,890 (3,085) 11,915
272,658 128,981 (93,604) (735) 307,300
General funds
General Funds
-all funds 292,599 451,302 (463,538) (1,000) 279,363
Total
Unrestricted
funds 565,257 580,283 (557,142) (1,735) 586,663

Statement offun ds - prior year (continued)
Balance at Balance at
1 November Transfers Gainsr 31October
2020f Income
f
Expenditure f inlout
6
(Losses) 2021
Clydesdale
Bank Grant 500 500
Heritage
Lottery
Fund 48,100 (11,130) 36,970
Anne Morgan
Fund 11,210 11,210
Sue Belton
Fund 11,850 444 (615) 2,470 14,149
Sue Ridgwell
Fund 279 279
240 for 40
years 14,508 450 14,958
Anne Tuck
Fund 1,000 1,000
Doris Debney
Fund 100 100
Mary Ann Corp
Fund 48,718 1,538 (11,979) 38,277
Quilt Historians 575 575
QGBI
Education and
Travel
Scholarship
Fund 11,871 (4,649) 7,223
The Chair Fund 73 (65) 8
Young Quilters'
Fund 15,332 9,665 (16,734) 8,263
The Leche
Trust 3,000 (4,735) 1,735
York Museum 51 (51)
164,167 15,098 (49,958) 1,735 2,470 133,512
Total offunds 729,424 595,381 (607,100) 2,470 720,175

Analysis
Analysis
ofnet assets between funds
ofnet assets between
funds - current year
Unrestricted Restricted Total
funds funds funds
2022 2022 2022
Tangible fixed assets 17,098 17,098
Intangible fixed assets 39,569 39,569
Fixed asset investments 9,124 9,124
Current assets 594,881 105,908 700,789
Creditors due within one year (179,753) (179,753)
Total 471,795 115,032 586,827
Analysis of net assets between funds - prior year
Unrestricted Restricted Total
funds funds funds
2021f 2021
6
2021f
Tangible fixed assets 26,427 26,435
Intangible fixed assets 23,858 23,858
Fixed asset Investments 10,116 10,116
Current assets 710,244 123,388 833,632
Creditors due within one year (173,866) (173,866)
586,663 133,512 720,175

Group Group
2022
F
2021f
Net expenditure
for
the year (as per Statement of Financial Activities) (133,348) (9,249)
Adjustments
for:
Depreciation
charges
11,230 14,256
Amortisation
charges
5,386 5,748
Gains/(losses)
on investments
992 (2,470)
Dividends,
interests
and rents from investments (2,642) (498)
Profit on the sale of fixed assets (420) (30)
Decrease
in stocks
1,905 5,282
Decrease/(increase) in debtors (23,421) 16,689
Increase
in creditors
6,986 1,694
Taxation charge (1,099) (26)
Net cash provided by/(used in) operating activities (134,431) 31,396
23. Analysis ofcash and cash equivalents
Group Group
2022f 2021
Cash in hand 647,760 802,120
Total cash and cash equivalents 647,760 802,120
24. Analysis ofchanges
in net debt
At 1 At 31
November October
2021 Cash flows 2022
6
Cash at bank and in hand 802,120 (154,360) 647,760
802,120 (154,360) 647,760

Group Group Charity Charity
2022f 2021f 2022f 2021f
Contracted for but not provided in these
financial statements
Acquisition of tangible fixed assets 12,012 18,876 12,012 18,876

Group Group Charity Charity
2022f 2021 2022
f.
2021
Not later than 1 year 7,254 7,254

FOR THE Y EAR ENDED 31OCTOB ER 2022
Unrestricted Restricted Total Total
funds funds funds funds
2022 2022 2022 2021
6
Income from:
Donations
and
legacies 49,198 4,952 54,150 125,343
Charitable
activities
220,162 1 272 221,434 141,857
Other trading activities 296,529 8,154 304,683 282,836
Investments 3,538 587 4,125 1,998
Total income
569427 14965 554392 552634
Expenditure
on:
Raising funds
Charitable
activities
675,671 32,453 708,124 563,753
Total expenditure 675 671 32453 708124 563753
Net expenditure before net
(losses)/gains on investments (106,244) (17,488) (123,732) (11,719)
Net (losses)/gains on investments (992) (992) 2,470
Net expenditure before taxation
(106,244) (18,480) (124,724) (9,249)
Taxation 1,086 1,086
Net movement in funds ~ILI553~u5s ~3a53~24
Reconciliation of funds:
Total funds brought forward 572,834 133,512 706,346 715,595
Net movement in funds (105,158) (18,480) (123,638) (9,249)
Total funds carried forward 4)6ZJB&~5iJQ2.~6~&~Q~4

2022 2021
Net expenditure
for
the year (as per Statement of Financial Activities) (123,638) (9,249)
Adjustments
for:
Depreciation
charges
11,017 14,032
Amortisation
charges
5,386 5,748
Gains/(losses)
on investments
992 (2,470)
Dividends,
interests
and rents from investments (4,125) (1,998)
Profit on the sale of fixed assets 420 (30)
Decrease/(increase) in debtors (21,849) 14,676
Increase
in creditors
6,952 2,134
Taxation charge (1,086)
Net cash provided by/(used in) operating activities ~Lrrs ~22
4

Unrestricted Restricted Total
funds funds funds
2022 2022 2022
E E K
Donations and sponsorship 10,783 4,862 15,645
Grant income 750 750
Gift Aid income 37,665 90 37,755
Unrestricted Restricted Total
funds funds funds
2021
6
2021 2021f
Donations and sponsorship 13,679 2,887 16,566
Grant income 66,250 3,000 69,250
Gift Aid income 39,472 55 39,527

Unrestricted Restricted Total
funds funds funds
2022f 2022
6
2022
6
British Quilt Studies Group 16,954 16,954
Contemporary Quilt 16,235 16,235
Judging
Course
15,213 15,213
Education
and
outreach 1,272 1,272
Communication
Miniature
Quilt
Group 3,682 3,682
Regional activities 134,266 134,266
Traditional
Quilt Group
3,597 3,597
Modern
Quilt Group
4,746 4,746
The Loft 1,732 1,732
FOQ events 23,737 23,737

Unrestricted Restricted Total
funds funds funds
2021 2021 2021f
British Quilt Studies Group 5,376 5,376
Contemporary
Quilt
8,662 8,662
Judging Course 6,715 6,715
Education
and outreach
1,096 1,096
Communication 19,500 19,500
Miniature
Quilt Group
1,506 1,506
Regional activities 91,029 91,029
Traditional
Quilt Group
3,890 3,890
Modern
Quilt Group
4,083
4,083
~47 t~~4tJhiT

Unrestricted Restricted Total
funds funds funds
2022
6
2022f 2022
6
Fundraising 4,160 8,071 12,231
Membership subscriptions 289,610 83 289,693
Other income 2,759 2,759
Unrestricted Restricted Total
funds funds funds
2021 2021 2021
5 6
Fundraising 7,110 7,110
Membership subscriplions 273,781 505 274,286
Other income 1,440
~2T
22
~f 1,440
~22,82i

Unrestricted Total
funds funds
2022 2022
E
Unrestricted Total
funds funds
2021 2021
E E