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2020-12-31-accounts

DocuSign Envelope ID: 6605898B-FA9B-4FB5-9A1D-2124FE368728

The Trefoil Guild

Trustees’ Report

and Unaudited Financial Statements

for the year ended 31 December 2020

Registered Charity Number 1075232

DocuSign Envelope ID: 6605898B-FA9B-4FB5-9A1D-2124FE368728

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

INDEX

Page
Charity information 1
Report of the Trustees 2
Independent Examiner’s report 6
Statement of financial activities 7
Balance sheet 8
Accounting policies 9
Notes to the financial statements 11

DocuSign Envelope ID: 6605898B-FA9B-4FB5-9A1D-2124FE368728

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

CHARITY INFORMATION

Trustees

Mrs Dianne Bollom Mrs Hilary Crane (from June 2020) Mrs Heather Hern Mrs Linda Hill-Tout Mrs Susan Hogg Mrs Jean Kelly Mrs Sheila Leete Mrs Chris Martin Mrs Eileen Martin Mrs Sheran Oke (from January 2020) Miss Hilary Richardson Mrs Valerie Sewell (to June 2020) Mrs Eirlais Tomkins Miss Janet Vine Ms Jennifer Watson Mrs Elizabeth Jane Webster

Principal office

17-19 Buckingham Palace Road London SW1W 0PT

Registered charity number

1075232

Auditor

Geoffrey Frost BSc(Hons) FCA Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY

Bankers

Lloyds Bank plc CCLA Investment Unity Trust Bank plc Butler Place Management Ltd Nine Brindleyplace Caxton Street 80 Cheapside Birmingham London, SW1H 0PR London, EC2V 6DZ B1 2HB

Investment Manager

Investec Wealth & Investment Ltd Unit 4, The Billings 3 Walnut Tree Close Guildford Surrey, GU1 4UK

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DocuSign Envelope ID: 6605898B-FA9B-4FB5-9A1D-2124FE368728

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

REPORT OF THE TRUSTEES

The Trustees have pleasure in presenting their annual report for the purposes of the Charities Act 2011, together with the accounts for the year ended 31 December 2020. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Trefoil Guild is a registered charity constituted under a Royal Charter dated 14 December 1922 and a Constitution dated 10 June 2017 and registered as a charity on 23 April 1999.

The Trefoil Guild is a branch of The Guide Association but maintains a separate identity. It is independently administered and is financially self-supporting. It is organised at national level by committees of volunteers who meet regularly throughout the year. All major decisions and all the activities of this organisation are carried out by volunteers with the exception of office administration tasks covered by three members of staff.

The Board of Trustees is the governing body of The Trefoil Guild where all major policy decisions on strategy are made.

The Board of Trustees is supported by one sub-committee, the Finance and General Purposes Sub-Committee, which deals with all financial matters in the first instance. It proposes an annual budget and all advisers and committees who are committing Trefoil Guild monies consult the Finance and General Purposes Sub-Committee which in turn brings proposals for financial decisions to the Board of Trustees.

In accordance with the Royal Charter and Bye-Laws of The Guide Association, The Trefoil Guild is controlled and managed by means of a constitution for The Trefoil Guild.

Appointment and induction of Trustees

The Board of Trustees is made up of the National Chair, her Deputy, the Chairs of the Countries and Regions, the Hon. Treasurer, the Chairman of the Finance and General Purposes Sub-Committee, and the National Advisers. The President and the Chief Guide may attend as non-voting members.

The Chairs from Countries and Regions are appointed for three years, which may be extended by not more than a further two, for their own Country or Region in consultation with The Trefoil Guild National Chair. Their training and induction is the responsibility of the Chair and her Deputy who deal with this on an individual basis.

Risk Assessment

The Trustees have considered the major risks to which the charity is exposed and have completed a formal evaluation of these. The Finance and General Purposes Sub-Committee review and assess annually key risks by which The Trefoil Guild is likely to be affected and systems and procedures have been established to manage the risks identified.

Governance

The Trefoil Guild is a branch of The Guide Association but is independently administered and is self-supporting. The administration of The Trefoil Guild throughout the United Kingdom, British Trefoil in Foreign Countries and The Guide Association’s Branch Associations is vested in the Board of Trustees of The Trefoil Guild. Regulation is by the Trustees. The Board of Trustees is empowered to:-

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DocuSign Envelope ID: 6605898B-FA9B-4FB5-9A1D-2124FE368728

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

REPORT OF THE TRUSTEES

Voting Members Ex Officio The Chair of The Trefoil Guild The Deputy Chair (if appointed) The Country & Region Chairs The Chairs of Sub-Committees The Treasurer The Programme Adviser The Public Relations Adviser The International Adviser

Non-voting Members Ex Officio The President of The Trefoil Guild The Chief Guide

The constitution of The Trefoil Guild lays down the composition of Board of Trustees and the arrangements for appointments.

OBJECTIVES AND ACTIVITIES

The charity’s objects are:

During the year under review the charity has worked on the forward plan to achieve its objectives and concentrate on its three main objectives:

In carrying out the charity’s activities for the year the charity has had due regard to the Charity Commission’s guidance on public benefit. The charity invites all members of the public to join as long as they are at least 18 years of age. Our members support the public; for example by working with local Guiding and Scouting groups in the UK and overseas and supporting local and national charities both financially and with their time.

ACHIEVEMENTS AND PERFORMANCE

Trefoil Guild continues to be forward thinking in its plans to enable all members to have a positive and meaningful experience.

There have been a number of changes of Trustees during the year. We welcomed a new Region Chair and an International Adviser. Our thanks go to all those who have completed their term of office.

2020 was a challenging year due to Covid and we had to cancel our Annual Meeting. All other meetings, including our Board of Trustees, were moved to online formats, using Microsoft Teams and Zoom.

Our charity’s objectives of supporting Girlguiding and the community have continued with many of our members being actively involved as leaders, whether online or face to face where this was permissible, supporting new Girlguiding units by providing Starter Packs as well as supporting local and national charities, including those who were requesting

Page 3

DocuSign Envelope ID: 6605898B-FA9B-4FB5-9A1D-2124FE368728

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

REPORT OF THE TRUSTEES

scrubs and comfort bags Grants have been available to our members and their carers, Girlguiding members to travel overseas and our members to travel overseas and attend conferences, all of which are in abeyance for the time being. Throughout our 75th celebrations in 2018 members raised over £113,875.86 for Riding for the Disabled Association used to sponsor their Countryside Challenge for 3 years, specific parts of their new training centre and a Trefoil Tearoom. We have agreed to defer ongoing support for the Countryside Challenge until this is reinstated

Communication and digital strategy

We continue to produce four magazines a year, our website is regularly updated and we have increased the use of social media. Zoom meetings have become the norm for many guilds, who continue to complete the Voyage Award and STARS challenge.

Grow membership and retain existing members

We continue to attract new members with our developing programme opportunities and continue to retain our existing members despite age. 223 members celebrated their 90[th] birthday and 7 their 100[th] birthday. They are always very appreciative of the card they receive from the National Chair. This is evidence of retaining our members.

The Thanks and Recognition Brooch remains very popular with our members.

The Silver Brooch for Outstanding Service to Trefoil Guild has been presented to 5 Members this year.

Develop our key messages: find friendship, get active, get involved and give support

In 2020 we were due begin a new 5 year Partnership with Lesotho Girl Guides Association, this has also been put in abeyance.

The Voyage Award continues to be very popular with over 2900 registered since the start. During 2020, 51 members completed gold, 64 silver and 50 bronze.

FINANCIAL REVIEW OF THE YEAR

The Trefoil Guild’s financial affairs are summarised on the following pages and the assets are considered to be adequate to fulfil all known obligations. We ended the year with a surplus of £56,134 (2019 deficit: £11,431) before losses on investments of £8,340 (2019 gains: £49,030).

At 31 December 2020, the charity’s free reserves (i.e. unrestricted funds not represented by fixed assets) totalled £481,423 (2019: £434,120) with £33,191 (2019: £32,231) designated for specific purposes as set out in the notes to the accounts.

Trefoil Guild’s investments were valued at £482,648 (2019: £495,404) at the balance sheet date and formed part of the net assets of each fund as follows: The Unrestricted Fund at £326,086, the SDR Fund at £11,646 the Holiday Fund at £84,141 and the Bursary Fund at £60,775. Grants from the restricted and designated funds have been made when requested. The Holiday Fund, the Bursary Fund, the Talking Trefoil Fund and the SDR Fund all remain in a healthy state.

Investment Policy

The Trustees aim to achieve both income and growth from their investments and also require security. Professional advisers and fund managers are employed to manage the funds and their performance is regularly reviewed by the Finance and General Purposes Sub-Committee.

Reserves Policy

The Trustees consider that the general reserve should be maintained at a level broadly equivalent to the annual expenditure of the Guild to cover the delay in receiving membership subscriptions or any other fluctuations in income and expenditure. General reserves of £481,423 at 31 December 2020 represent 209% of this year’s expenditure (2014 – 182%, 2015 – 156%, 2016 – 159%, 2017 – 119%, 2018 – 119%, 2019 – 119%). The Trustees plan to reduce this level of reserve by –

Page 4

DocuSign Envelope ID: 6605898B-FA9B-4FB5-9A1D-2124FE368728

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

REPORT OF THE TRUSTEES

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

APPOINTMENT OF INDEPENDENT EXAMINER

Geoffrey Frost has indicated his willingness to act as Independent Examiner for the year to 31 December 2020 and a resolution to appoint him will be put to the Annual Meeting.

Approved by the Trustees and signed on their behalf.

24 March 2021 ………………………………………… ………………………… Trustee Date

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DocuSign Envelope ID: 6605898B-FA9B-4FB5-9A1D-2124FE368728

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

INDEPENDENT EXAMINER’S REPORT

Independent Examiner's Report to the Trustees of The Trefoil Guild

I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 December 2020 which are set out on pages 7 to 16.

Responsibilities and basis of report

As the charity’s Trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent Examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. I confirm that I am qualified to undertake the examination because I am member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Geoffrey Frost BSc(Hons) FCA Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY

24 March 2021 Date

Page 6

DocuSign Envelope ID: 6605898B-FA9B-4FB5-9A1D-2124FE368728

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

STATEMENT OF FINANCIAL ACTIVITIES

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
1
Charitable activities
Membership subscriptions
2
Members' activities and services provided
2
Members' Gathering
2
Investments
3
Total
EXPENDITURE ON:
Raising funds
4
Charitable activities
Grants payable
5
Members' activities and services
6
Contributions
7
Total resources expended
Gains / (losses) on investments
Unrealised
12
Realised
12
Net Incoming Resources
Transfers between funds
17
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
17
Total funds carried forward
17		 Unrestricted
Funds
£
10,737
257,545
9,448
-
6,991
284,721
3,094
1,655
225,010
500
230,259
(1,974)
(4,225)
48,263
-
48,263
466,351
514,614		 Restricted
Funds
£
-
-
29
-
3,191
3,220
1,322
-
226
-
1,548
153
(2,294)
(469)
-
(469)
188,670
188,201		 2020
Total
Funds
£
10,737
257,545
9,477
-
10,182
287,941
4,416
1,655
225,236
500
231,807
(1,821)
(6,519)
47,794
-
47,794
655,021
702,815		 2019
Total
Funds
£
543
250,454
45,880
43,499
13,695
354,071
4,542
23,833
336,627
500
365,502
47,365
1,665
37,599
-
37,599
617,422
655,021

The charity has no recognised gains or losses other than those dealt with in the statement of financial activities

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DocuSign Envelope ID: 6605898B-FA9B-4FB5-9A1D-2124FE368728

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

BALANCE SHEET AS AT 31 DECEMBER 2020

Note
FIXED ASSETS
Tangible assets
11
Investments
12
Total fixed assets
CURRENT ASSETS
Stock
13
Debtors
14
Cash at hand and in bank
Total current assets
CURRENT LIABILITIES
Creditors: amounts falling due within one year
15
Net current assets/(liabilities)
Net assets
THE FUNDS OF THE CHARITY
Expendable endowment funds
17
Designated funds
SDR fund
Platinum fund
General fund
Total unrestricted funds
Total charity funds		 £
£
-
482,648
482,648
9,138
21,853
219,977
250,968
30,801
220,167
702,815
188,201
29,596
3,595
33,191
481,423
514,614
702,815
2020		 £
£
-
495,404
495,404
7,568
17,614
184,178
209,360
49,743
159,617
655,021
188,670
28,644
3,587
32,231
434,120
466,351
655,021
2019		 £
£
-
495,404
495,404
7,568
17,614
184,178
209,360
49,743
159,617
655,021
188,670
28,644
3,587
32,231
434,120
466,351
655,021
2019
655,021
188,670
466,351
655,021

24 March 2021

The financial statements on pages 7 to 16 were approved and authorised by the Trustees on ……………………………………. And signed on their behalf by:

………………………………………..

Trustee

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DocuSign Envelope ID: 6605898B-FA9B-4FB5-9A1D-2124FE368728

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

ACCOUNTING POLICIES

General information, scope and basis of the financial statements

The Trefoil Guild is an unincorporated association constituted under a Royal Charter and Constitution. The address of the principal office is given in the reference and administrative details section and the nature of the charity’s operations and principal activities are given in the Trustees' report.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Cash flow statement

The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a statement of cash flows on the grounds that it is applying FRS 102 Section 1A.

Incoming resources

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

Investment income is earned through holding assets for investment purposes such as shares. It includes dividends and interest. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established.

Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following expenditure headings:

Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grant. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.

Support and governance costs are those that assist the work of the charity but do not directly represent charitable activities. They are incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in the governance of the charity and primarily associated with the constitution and statutory requirements.

VAT

The charity is not registered for VAT and is unable to recover VAT incurred. On this basis costs are recorded inclusive of VAT within the SOFA.

Taxation

The charity is considered to pass the tests set out in sections 521 to 536 Income Tax Act 2007 (ITA 2007), as such no income tax is payable on the charity's activities.

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DocuSign Envelope ID: 6605898B-FA9B-4FB5-9A1D-2124FE368728

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

ACCOUNTING POLICIES

Investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Where investments are denominated in currencies other than sterling, transactions are translated at the rate prevailing at the date of the transaction and year end values are calculated using the exchange rate prevailing at the year end.

Investments held in foreign currencies

Where investment assets are held in a foreign currency they are translated at the prevailing rate at the balance sheet date and any gain/loss on exchange rate movements is included in the statement of financial activities in the other recognised gains and losses section.

Debtors receivable and creditors payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Fund accounting

Unrestricted income funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds is charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Going concern

The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

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DocuSign Envelope ID: 6605898B-FA9B-4FB5-9A1D-2124FE368728

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

NOTES TO THE FINANCIAL STATEMENTS

1. Income from donations and legacies

Unrestricted
Funds
£
Donations
737
Legacies
10,000
10,737
2. Income from charitable activities
Unrestricted
Funds
£
Membership subscriptions
257,545
Members' activities and services provided
Magazine advertising
6,221
Annual meetings
-
Sales
1,437
TOPAZ
80
Voyage Award
1,710
9,448
Members' Gathering
-
266,993
3. Income from investments
Unrestricted
Funds
£
Dividend income and interest received
6,991
6,991
4. Expenditure on raising funds
Unrestricted
Funds
£
Investment management fees
3,094
3,094		 Restricted
Funds
£
-
-
-
Restricted
Funds
£
-
-
-
29
-
-
29
-
29
Restricted
Funds
£
3,191
3,191
Restricted
Funds
£
1,322
1,322		 2020
Total
Funds
£
737
10,000
10,737
2020
Total
Funds
£
257,545
6,221
-
1,466
80
1,710
9,477
-
267,022
2020
Total
Funds
£
10,182
10,182
2020
Total
Funds
£
4,416
4,416		 Unrestricted
Funds
£
443
100
543
Unrestricted
Funds
£
250,454
8,228
19,855
1,965
12,623
2,647
45,318
43,499
339,271
Unrestricted
Funds
£
9,237
9,237
Unrestricted
Funds
£
3,176
3,176		 Restricted
Funds
£
-
-
-
Restricted
Funds
£
-
-
-
562
-
-
562
-
562
Restricted
Funds
£
4,458
4,458
Restricted
Funds
£
1,366
1,366		 2019
Total
Funds
£
443
100
543
2019
Total
Funds
£
250,454
8,228
19,855
2,527
12,623
2,647
45,880
43,499
339,833
2019
Total
Funds
£
13,695
13,695
2019
Total
Funds
£
4,542
4,542

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DocuSign Envelope ID: 6605898B-FA9B-4FB5-9A1D-2124FE368728

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

NOTES TO THE FINANCIAL STATEMENTS

5. Expenditure on charitable activities - grants to individuals

Unrestricted
Funds
£
GOLD grants
-
TOPAZ grants
-
Starter packs
1,655
Grants to Trefoil members and Donations
-
Recruitment grant
-
1,655		 Restricted
Funds
£
-
-
-
-
-
-		 2020
Total
Funds
£
-
-
1,655
-
-
1,655		 Unrestricted
Funds
£
15,552
1,440
4,782
1,059
1,000
23,833		 Restricted
Funds
£
-
-
-
-
-
-		 2019
Total
Funds
£
15,552
1,440
4,782
1,059
1,000
23,833

6. Expenditure on charitable activities - members' activities and services

Membership support
Direct costs
Support costs
Trefoil magazine
Direct costs
Support costs
Annual report
Direct costs
Support costs
Annual meeting
Direct costs
Support costs
WAGGGS Europe Levy
Direct costs
Support costs
Governance costs
Direct costs
Support costs		 Unrestricted
Funds
£
18,245
63,447
81,692
85,695
9,507
95,202
-
7,437
7,437
6,290
14,684
20,974
5,039
-
5,039
6,211
8,455
14,666
225,010		 Restricted
Funds
£
226
-
226
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
226		 2020
Total
Funds
£
18,471
63,447
81,918
85,695
9,507
95,202
-
7,437
7,437
6,290
14,684
20,974
5,039
-
5,039
6,211
8,455
14,666
225,236		 Unrestricted
Funds
£
85,386
63,992
149,378
83,662
9,590
93,252
-
7,498
7,498
29,169
14,819
43,988
5,291
-
5,291
28,128
8,676
36,804
336,211		 Restricted
Funds
£
416
-
416
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
416		 2019
Total
Funds
£
85,802
63,992
149,794
83,662
9,590
93,252
-
7,498
7,498
29,169
14,819
43,988
5,291
-
5,291
28,128
8,676
36,804
336,627

7. Expenditure on charitable activities - Contributions

Contributions Unrestricted
Funds
£
500
500		 Restricted
Funds
£
-
-		 2020
Total
Funds
£
500
500		 Unrestricted
Funds
£
500
500		 Restricted
Funds
£
-
-		 2019
Total
Funds
£
500
500

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DocuSign Envelope ID: 6605898B-FA9B-4FB5-9A1D-2124FE368728

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

NOTES TO THE FINANCIAL STATEMENTS

8. Examiner's fees

Independent examiner's fees Unrestricted
Funds
£
1,440		 Restricted
Funds
£
-		 2020
Total
Funds
£
1,440		 Unrestricted
Funds
£
1,440		 Restricted
Funds
£
-		 2019
Total
Funds
£
1,440

9. Wages and salary cost

Gross wages
Employer's national insurance costs
Employer's pension contributions		 2020
Total
Funds
£
72,697
6,699
5,150
84,546		 2019
Total
Funds
£
74,803
6,336
5,625
86,764

There were no employees with emoluments (excluding employer pension costs) above £60,000 in this or the preceding year

Staff numbers, on an average headcount basis, analysed by function was:

Administration of charitable activities
e number of staff to whom retirement benefits are accruing under defined contribution schemes, analysed
Administration of charitable activities		 2020
3
by function was
2020
3		 2019
3
2019
3

The number of staff to whom retirement benefits are accruing under defined contribution schemes, analysed by function was

During the year under review and the comparative year management of the charity was the responsibility of the trustees with day-to-day operational tasks undertaken by a small administrative team. The trustees are unremunerated and therefore there is no information on key management personnel remuneration and benefits to disclose.

10. Related party transactions

None of the trustees received any remuneration or received any other benefits from employment with the charity during the year under review or the comparative year.

Sixteen (2019: Twenty) trustees or their representatives were reimbursed or had expenses paid on their behalf for travel and subsistence totalling £4,476 (2019: £21,525) during the year under review.

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DocuSign Envelope ID: 6605898B-FA9B-4FB5-9A1D-2124FE368728

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

NOTES TO THE FINANCIAL STATEMENTS

11. Fixed assets - charity

Cost
At 1 January 2020
Additions
Disposals
At 31 December 2020
Depreciation
Accumulated at 1 January 2020
Charge for the year
On disposals
At 31 December 2020
Net book value at 31 December 2020
Net book value at 31 December 2019		 Office
equipment
£
13,352
-
-
13,352
13,352
-
-
13,352
-
-		 Total
£
13,352
-
-
13,352
13,352
-
-
13,352
-
-

12. Fixed asset investments - managed funds

Investments
£
Reconciliation of movement on investments
Carrying (market) value brought forward
479,405
Additions at cost
98,216
Disposals at carrying value
(107,329)
Gain/(Loss) on revaluation
(1,821)
Net increase/(decrease) in cash
-
Carrying (market) value carried forward
468,471
Gains/(losses) on investments
Unrealised (from above)
(1,821)
Realised on disposals
(6,519)
(8,340)
The investments above are analysed as follows:
Cash and cash equivalents
-
Listed investments
468,471
468,471		 Cash
£
15,999
-
-
-
(1,822)
14,177
-
-
-
14,177
-
14,177		 2020
Total
Funds
£
495,404
98,216
(107,329)
(1,821)
(1,822)
482,648
(1,821)
(6,519)
(8,340)
14,177
468,471
482,648		 Investments
£
430,642
90,292
(88,894)
47,365
-
479,405
47,365
1,665
49,030
-
479,405
479,405		 Cash
£
20,274
-
-
-
(4,275)
15,999
-
-
-
15,999
-
15,999		 2019
Total
Funds
£
450,916
90,292
(88,894)
47,365
(4,275)
495,404
47,365
1,665
49,030
15,999
479,405
495,404

13. Stock

Brooches
Voyage Award materials
Stars badges
Other badges and items
Neckers		 2020
Total
Funds
£
1,166
1,363
4,537
998
1,074
9,138		 2019
Total
Funds
£
1,354
1,453
1,610
1,624
1,527
7,568

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DocuSign Envelope ID: 6605898B-FA9B-4FB5-9A1D-2124FE368728

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

NOTES TO THE FINANCIAL STATEMENTS

14. Debtors

14. Debtors
Trade debtors
Prepayments and accrued income		 2020
Total
Funds
£
100
21,753
21,853		 2019
Total
Funds
£
1,743
15,871
17,614

15. Creditors: amounts falling due within one year

Trade creditors
Accruals and deferred income
Other creditors		 2020
Total
Funds
£
17,921
12,025
855
30,801		 2019
Total
Funds
£
42,398
6,594
751
49,743

16. Analysis of net assets between funds

Fixed assets
Current assets
Current liabilities
Fixed assets
Current assets
Current liabilities		 General
Designated
Funds
Funds
£
£
326,086
11,646
186,138
21,545
(30,801)
-
481,423
33,191
General
Designated
Funds
Funds
£
£
335,058
11,966
148,805
20,265
(49,743)
-
434,120
32,231
Unrestricted Funds
Unrestricted Funds		 Restricted
Funds
£
144,916
43,285
-
188,201
Restricted
Funds
£
148,380
40,290
-
188,670		 2020
Total
Funds
£
482,648
250,968
(30,801)
702,815
2019
Total
Funds
£
495,404
209,360
(49,743)
655,021

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DocuSign Envelope ID: 6605898B-FA9B-4FB5-9A1D-2124FE368728

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

NOTES TO THE FINANCIAL STATEMENTS

17. Analysis of net movement in funds

Restricted funds
Holiday fund
Bursary fund
Talking Trefoil
Unrestricted funds
Designated funds
SDR fund
Platinum fund
General fund
Total unrestricted funds
Total funds
Restricted funds
Holiday fund
Bursary fund
Talking Trefoil
Unrestricted funds
Designated funds
SDR fund
Platinum fund
General fund
Total unrestricted funds
Total funds		 2020
Total funds
brought
forward
£
100,973
87,451
246
188,670
28,644
3,587
32,231
434,120
466,351
655,021		 Total
incoming
resources
£
1,707
1,484
29
3,220
1,273
8
1,281
283,440
284,721
287,941		 Total
resources
Gains/(losses)
expended
on investments
£
£
(762)
(412)
(560)
(1,729)
(226)
-
(1,548)
(2,141)
(107)
(214)
-
-
(107)
(214)
(230,152)
(5,985)
(230,259)
(6,199)
(231,807)
(8,340)
2019		 Transfers
between
funds
£
-
-
-
-
-
-
-
-
-
-		 Total funds
carried
forward
£
101,506
86,646
49
188,201
29,596
3,595
33,191
481,423
514,614
702,815
Total funds
brought
forward
£
91,489
80,280
100
171,869
26,959
3,563
30,522
415,031
445,553
617,422		 Total
incoming
resources
£
2,339
2,119
562
5,020
775
24
799
348,252
349,051
354,071		 Total
resources
Gains/(losses)
expended
on investments
£
£
(785)
8,010
(581)
5,633
(416)
-
(1,782)
13,643
(310)
1,220
-
-
(310)
1,220
(363,410)
34,167
(363,720)
35,387
(365,502)
49,030		 Transfers
between
funds
£
(80)
-
-
(80)
-
-
-
80
80
-		 Total funds
carried
forward
£
100,973
87,451
246
188,670
28,644
3,587
32,231
434,120
466,351
655,021

18. Description of funds

Restricted funds

The purpose of the Holiday Fund is to give financial help to Leaders, Ex-Leaders and Trefoil Guild members to enable them to have a much needed holiday, which they could not otherwise afford.

The purpose of the Bursary Fund is to provide help to Trefoil Guild members with the cost of training, attendance at Gatherings and generally to direct benefit in connection with Trefoil activities.

The purpose of the Talking Trefoil is to provide an audio version of The Trefoil magazine and equipment for members with impaired sight and those with holding and turning page difficulties.

Designated funds

The purpose of the designated fund called the Support, Development and Relief Fund (the SDR Fund) is to provide financial help to Girl Guides and Girl Scouts (as individuals or groups) or to communities worldwide (including the United Kingdom) when and where financial assistance is seen to be needed to sustain their viability, to develop their membership or deal with unexpected disasters.

The purpose of the Platinum Fund is to assist members of Trefoil Guild with acute mental or physical disability and those who are suffering from a terminal illness or a serious illness from which there is no prospect of full recovery, to enable them to take part, with their carers as required, in Trefoil Guild activities. A secondary purpose is to assist members with caring responsibilities who incur high costs for support care whilst they attend their meetings.

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DocuSign Envelope ID: 6605898B-FA9B-4FB5-9A1D-2124FE368728

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

NOTES TO THE FINANCIAL STATEMENTS

19. Financial instruments

The carrying amounts of the charity's financial instruments are as follows:

19. Financial instruments
The carrying amounts of the charity's financial instruments are as follows:
Financial assets
Measured at fair value through net income/(expenditure):
Fixed asset investments
Debt instruments measured at amortised cost:
Trade debtors (note 14)
Financial liabilities
Measured at amortised cost:
Trade creditors (note 15)		 2020
Total
Funds
£
482,648
482,648
100
100
17,921
17,921		 2019
Total
Funds
£
495,404
495,404
1,743
1,743
42,398
42,398

The income, expense, net gains and net losses attributable to the charity's financial instruments are summarised as follows

Income and expense
Financial assets measured at fair value through net income/(expenditure)
Investment income
Investment management fees
Net gains and losses (including changes in fair value)
Financial assets measured at fair value through net income/(expenditure)
Realised gains/(losses) on investments
Unrealised gains/(losses) on investments		 2020
Total
Funds
£
10,182
(4,416)
5,766
(6,519)
(1,821)
(8,340)		 2019
Total
Funds
£
13,695
(4,542)
9,153
1,665
47,365
49,030

Fixed asset investments are held at fair value with valuations obtained using last traded or closing mid/bid market prices as available

Page 17