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2022-12-31-accounts

The Trefoil Guild

Trustees’ Report and Unaudited Financial Statements

for the year ended 31 December 2022

Registered Charity Number 1075232

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

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

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

CHARITY INFORMATION

Trustees

Mrs Dianne Bollom Mrs Karen Cochrane (from 1 January 2022) Mrs Hilary Crane Mrs Heather Hern Mrs Susan Hogg Mrs Jean Kelly (from 6 January 2022) Mrs Sheila Leete Mrs Chris Martin Mrs Eileen Martin Mrs Lesley Mathews (from 1 July 2022) Mrs Sheran Oke Mrs Frances Parrett (to 6 November 2022) Mrs Elaine Diack Miss Janet Vine (to 30 June 2022) Mrs Evelyn Walker Ms Jennifer Watson Mrs Elizabeth Jane Webster (to 6 January 2022)

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

Page 1

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

THE TREFOIL GUILD

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 2022. 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 (if appointed), the Chairs of the Countries and Regions, the Hon. Treasurer, the Chair 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 (if appointed) 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:-

Page 2

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

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. Our Trustee meetings are now split into Board of Trustee and Operational meetings.

There have been a number of changes of Trustees during the year. We welcomed 1 new Country and Region Chair. Our Public Relations adviser stepped down for personal reasons and we will be appointing a new adviser in early 2023. Our thanks go to all those who have completed their term of office.

In March 2019 we launched STARS (Skills, Together, Action, Roam, Self) to help guilds to create varied, interesting, inclusive, and meaningful programmes to help retain and attract members, with badges for the five themes which together form a star. This continues to be popular with our members.

Our charity’s objectives of supporting Girlguiding and the community have continued with many of our members being actively involved as leaders or on an ad hoc basis, supporting new Girlguiding units by providing Starter Packs as well

Page 3

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

THE TREFOIL GUILD

REPORT OF THE TRUSTEES

as supporting local and national charities. Grants are available to our members and their carers, Girlguiding members to travel overseas, and our members to travel overseas and attend conferences.

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. Our 3-year sponsorship of Riding for the Disabled Association used to sponsor their Countryside Challenge, specific parts of their new training centre and a Trefoil Tearoom is now complete.

Communication and digital strategy

We continue to produce four issues of The Trefoil magazine a year, our website is regularly updated and now includes a member’s only area. We have increased the use of social media. Countries and Regions continue to have KEY access to help take the database forward.

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. 242 members celebrated their 90th birthday and several their 100th 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 2 members this year.

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

Our TOPAZ programme has been on hold but the team visiting Lesotho in 2023 has continued to fundraise for their trip.

The Voyage Award continues to be very popular with over 3,170 registered since the start. During 2022, 47 members completed gold, 50 silver and 60 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 £20,014 (2021: £66,041) before losses on investments of £54,133 (2021 gains: £40,456).

At 31 December 2022, the charity’s free reserves (i.e. unrestricted funds not represented by fixed assets) totalled £555,815 (2021: £574,313) with £33,619 (2021: £34,274) designated for specific purposes as set out in the notes to the accounts.

Trefoil Guild’s investments were valued at £459,576 (2021: £518,347) at the balance sheet date and formed part of the net assets of each fund as follows: The Unrestricted Fund at £313,492, the SDR Fund at £11,196, the Holiday Fund at £77,795 and the Bursary Fund at £57,093. 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 £555,815 at 31 December 2022 represent 191% of this year’s expenditure

Page 4

THE TREFOIL GUILD UNAUDtrED FINANCIAL ￿ATEmENTs FOR THE YEAR ENDED 31 DECEMBER 2022 REPORT OF THE TRUSTEES (2014 - 182010, 2015 - 156%, 2016 - Is￿/0, 2017 - 119%, 2018 1190/0, 2019 - 119%, 2020 - 2090h, 2021 - 210%). The Trustees plan to redu￿ this level of reserve by - a. Conb"nuing to support Countries and Region5 in promotion of the Trefoil Guild,. b. Absorbing any potential reduction in membership as leaders remain active in guiding after the age of 65,. and Enhancing members, seNices. STATEMENT OF TRusfEES' RESPONSIBILTtIES The Trustee5 are responsible for preparing the Trustees, Annual Report and the finanaal statements in accordance with applicable law and United Kingdorn Accounting Stsndaids (United Kingdom Generalty Accepted Accounting Praclice). The law applicable to charities in England & Wales requires the Truste& to prepare financial statements for each financial year which give a true and fair view of the stste of affairs of the charity and of the incoming reSoUr￿S and application of resources of the charity for that period. In preparing these finanaal ststements, the Trustees are required to.. select suitsble accounung pollcies and then apply them consistently. obseNe the methods and principles in the Charities SORP 2019 {FRS 102). make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed. subjett to any material departijres disclosed and explained in the financial statements. prepare the financial statements on the going concern basis unless It is inappropriate to presume that the charity will continue In operation. The Twstees are responsible for keeping proper accounting record5 that disclose wlth reasonable accuracy at any time the financial posltion of the charity and enable them to ensure that the financial ststements compty with the Charitses Art 2011, the Charities {Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also resFX)nsible for safeguarding the assets of the charity and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities. APPoINTMEr￿ OF INDEPENDENT EXAMINER Geoffrey Frost has indicated his willingness to act as Independent Examiner for the year to 31 De￿rn￿r 2023 and a resolutK)n to appoint him will be put to the Annual Meeting. Approved by the Trustees and signed on their tehalf. Trustee Date Page 5

THE TREFOIL GUILD UNAUDITED FINANaAL STATEMEWtS FOR THE YEAR ENDED 31 DECE MBER 2022 INDEPENDENT EXAMINER'S REPORT Independent Examinerfs Report to the Trustees of The Trefoil Guild I report to the charity TTu5tees on my examination of the accounts of the charity for the year ended 31 December 2022 which are set out on page5 7 to 17. Responslbllltles and basls of report As the tharity's TNstees you are responsible for the preparatlon of the accounts in accordance with the requirements of the Charities Act 2011 Cthe ACV). I report in respect of my examination of the charity's accounts Ca￿led out tjnder sectlon 145 of the Art and in carrying out my examination I have followed all the applicable Dirertions given by the Charity Commission under section 145(5){b) of the Art. Independent Examiner's ststement Slnce the chaws gross income ex￿eded £250.000 your examiner must be a member of a body Ilsted In section 145 of the Att. E confim) that l am qualified to undertske the examination trecause I arn a member of the Institute of Chartered Accountants in England and Wales, which is c￿e of the listed bodies. I have cc*rpleted my examination. I confirm that no material matters have come to my attention in connection with the examination gimng me cause to believe that in any material respert.. accounting records were not kept in ￿pert of the tharity as required by section 130 of the Act; or the accounts do not accord with those records. or the accounts do not comply with the applicable requirements conceming the form and content of accounts set out in the Charities (Accounts and Rewjrts) Regulations 2008 other than any requirement that the accounts give 'true and fair wew, which Is not a matter consldered as part of on independent examination. I have no COn￿M5 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 proFer understanding of the accounts to be reached. Geoffrey ost Blue Spire knmited Cawley Priory South Pallant Chichester West Sussex P019 ISY (Hons) FCA Date JoL4 Page 6

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

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
£
178
264,434
33,735
-
9,404
307,751
3,267
8,204
278,218
1,000
290,689
(29,849)
(6,366)
(19,153)
-
(19,153)
608,587
589,434		 Restricted
Funds
£
-
-
-
-
4,324
4,324
1,372
-
-
-
1,372
(14,190)
(3,728)
(14,966)
-
(14,966)
200,725
185,759		 2022
Total
Funds
£
178
264,434
33,735
-
13,728
312,075
4,639
8,204
278,218
1,000
292,061
(44,039)
(10,094)
(34,119)
-
(34,119)
809,312
775,193		 2021
Total
Funds
£
1,295
278,454
51,008
-
10,611
341,368
4,757
2,424
267,146
1,000
275,327
40,033
423
106,497
-
106,497
702,815
809,312

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

Page 7

THE TREFOIL GUILD UNAUDftED FINANCtAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 BALANCE SHE￿ AS AT 31 DECEMBER 2022 2022 2021 Note FIXED AssErs Tangible a Investments Total fixed a%ets li 12 459 576 518 347 459,576 518,347 CURRE1￿ ASSETS stock Debtors Cash at hond and in bHnk Total ¢urrwtt ass¢ts 13 14 8,587 26,288 7,364 22.503 3Ql 033 330,900 383.116 CURRE￿ LIABILTfiES Creditors.. amounts falling due wthh one yeai 15 Net currentassots1(liabllltiesl 315,617 290,965 775 193 THE FUNDS OF THE CHAAirY Expendab￿ endowment fur 17 185,759 200,725 De&gnated funds SDR fund Piatinum fund 29,989 30.679 33,619 555 815 34,274 574 313 General fund Totsi unresthctsd fur￿$ 589,434 608,587 Total tharltyfunds 775 193 IS{AP￿LaC￿l The financial siatements on pages 7 tr) 17 were apwowj and autt¥Jrised by the Trwtees on ........... behaW by.. And slgned on Page 8

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

THE TREFOIL GUILD

ACCOUNTING POLICIES

General information, scope and basis of the financial statements

The Trefoil Guild is an unincorporated charity 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 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.

Page 9

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

THE TREFOIL GUILD

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.

Page 10

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

THE TREFOIL GUILD

NOTES TO THE FINANCIAL STATEMENTS

1. Income from donations and legacies

Donations
Legacies		 Unrestricted
Funds
£
178
-
178		 Restricted
Funds
£
-
-
-		 2022
Total
Funds
£
178
-
178		 Unrestricted
Funds
£
1,295
-
1,295		 Restricted
Funds
£
-
-
-		 2021
Total
Funds
£
1,295
-
1,295

2. Income from charitable activities

2. Income from charitable activities
Unrestricted
Funds
£
Membership subscriptions
264,434
Members' activities and services provided
Magazine advertising
3,062
Annual meetings and badges
20,891
National conference income
-
Walking festival
-
Advisors meeting
2,650
Sales
4,029
TOPAZ
1,440
Voyage Award
1,663
33,735
Members' Gathering
-
298,169
3. Income from investments
Unrestricted
Funds
£
Dividend income and interest received
9,404
9,404		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
Restricted
Funds
£
4,324
4,324		 2022
Total
Funds
£
264,434
3,062
20,891
-
-
2,650
4,029
1,440
1,663
33,735
-
298,169
2022
Total
Funds
£
13,728
13,728		 Unrestricted
Funds
£
278,454
2,660
49
22,708
17,918
-
5,942
74
1,657
51,008
-
329,462
Unrestricted
Funds
£
7,300
7,300		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
Restricted
Funds
£
3,311
3,311		 2021
Total
Funds
£
278,454
2,660
49
22,708
17,918
-
5,942
74
1,657
51,008
-
329,462
2021
Total
Funds
£
10,611
10,611

4. Expenditure on raising funds

Investment management fees Unrestricted
Funds
£
3,267
3,267		 Restricted
Funds
£
1,372
1,372		 2022
Total
Funds
£
4,639
4,639		 Unrestricted
Funds
£
3,333
3,333		 Restricted
Funds
£
1,424
1,424		 2021
Total
Funds
£
4,757
4,757

Page 11

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

THE TREFOIL GUILD

NOTES TO THE FINANCIAL STATEMENTS

5. Expenditure on charitable activities - grants to individuals

Unrestricted
Funds
£
GOLD grants
4,940
TOPAZ grants
-
Starter packs
3,094
Grants to Trefoil members and Donations
170
Recruitment grant
-
8,204		 Restricted
Funds
£
-
-
-
-
-
-		 2022
Total
Funds
£
4,940
-
3,094
170
-
8,204		 Unrestricted
Funds
£
-
-
2,424
-
-
2,424		 Restricted
Funds
£
-
-
-
-
-
-		 2021
Total
Funds
£
-
-
2,424
-
-
2,424

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
£
26,658
72,654
99,312
86,135
10,890
97,025
-
8,506
8,506
21,684
16,851
38,535
4,500
-
4,500
20,028
10,312
30,340
278,218		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 2022
Total
Funds
£
26,658
72,654
99,312
86,135
10,890
97,025
-
8,506
8,506
21,684
16,851
38,535
4,500
-
4,500
20,028
10,312
30,340
278,218		 Unrestricted
Funds
£
76,926
61,025
137,951
79,522
9,146
88,668
-
7,147
7,147
(1,536)
14,144
12,608
4,549
-
4,549
7,737
8,486
16,223
267,146		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 2021
Total
Funds
£
76,926
61,025
137,951
79,522
9,146
88,668
-
7,147
7,147
(1,536)
14,144
12,608
4,549
-
4,549
7,737
8,486
16,223
267,146

7. Expenditure on charitable activities - Contributions

Contributions Unrestricted
Funds
£
1,000
1,000		 Restricted
Funds
£
-
-		 2022
Total
Funds
£
1,000
1,000		 Unrestricted
Funds
£
1,000
1,000		 Restricted
Funds
£
-
-		 2021
Total
Funds
£
1,000
1,000

Page 12

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

NOTES TO THE FINANCIAL STATEMENTS

8. Examiner's fees

Independent examiner's fees Unrestricted
Funds
£
1,650		 Restricted
Funds
£
-		 2022
Total
Funds
£
1,650		 Unrestricted
Funds
£
1,440		 Restricted
Funds
£
-		 2021
Total
Funds
£
1,440

9. Wages and salary cost

Gross wages
Employer's national insurance costs
Employer's pension contributions		 2022
Total
Funds
£
87,210
8,170
7,741
103,121		 2021
Total
Funds
£
72,519
6,608
5,737
84,864

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		 2022
3
by function was
2022
3		 2021
3
2021
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.

Seventeen (2021: Eighteen) Trustees or their representatives were reimbursed or had expenses paid on their behalf for travel and subsistence totalling £8,442 (2021: £5,355) during the year under review.

Page 13

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

NOTES TO THE FINANCIAL STATEMENTS

11. Fixed assets - charity

Cost
At 1 January 2022
Additions
Disposals
At 31 December 2022
Depreciation
Accumulated at 1 January 2022
Charge for the year
On disposals
At 31 December 2022
Net book value at 31 December 2022
Net book value at 31 December 2021		 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
511,749
Additions at cost
94,411
Disposals at carrying value
(112,170)
Gain/(Loss) on revaluation
(44,039)
Net increase/(decrease) in cash
-
Carrying (market) value carried forward
449,951
Gains/(losses) on investments
Unrealised (from above)
(44,039)
Realised on disposals
(10,094)
(54,133)
The investments above are analysed as follows:
Cash and cash equivalents
-
Listed investments
449,951
449,951		 Cash
£
6,598
-
-
-
3,027
9,625
-
-
-
9,625
-
9,625		 2022
Total
Funds
£
518,347
94,411
(112,170)
(44,039)
3,027
459,576
(44,039)
(10,094)
(54,133)
9,625
449,951
459,576		 Investments
£
468,471
30,532
(27,287)
40,033
-
511,749
40,033
423
40,456
-
511,749
511,749		 Cash
£
14,177
-
-
-
(7,579)
6,598
-
-
-
6,598
-
6,598		 2021
Total
Funds
£
482,648
30,532
(27,287)
40,033
(7,579)
518,347
40,033
423
40,456
6,598
511,749
518,347

13. Stock

Brooches
Voyage Award materials
Stars badges
Other badges and items
Neckers		 2022
Total
Funds
£
790
2,252
3,208
633
1,704
8,587		 2021
Total
Funds
£
903
1,657
3,789
604
411
7,364

Page 14

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

THE TREFOIL GUILD

NOTES TO THE FINANCIAL STATEMENTS

14. Debtors

14. Debtors
Trade debtors
Prepayments and accrued income		 2022
Total
Funds
£
-
26,288
26,288		 2021
Total
Funds
£
8,359
14,144
22,503

15. Creditors: amounts falling due within one year

Trade creditors
Payroll, social security and pension costs
Accruals and deferred income
Other creditors		 2022
Total
Funds
£
877
25,889
40,135
598
67,499		 2021
Total
Funds
£
471
24,894
13,862
708
39,935

16. Analysis of net assets between funds

Fixed assets
Current assets
Current liabilities
Fixed assets
Current assets
Current liabilities		 General
Designated
Funds
Funds
£
£
313,492
11,196
309,822
22,423
(67,499)
-
555,815
33,619
General
Designated
Funds
Funds
£
£
361,785
11,646
266,070
21,545
(39,935)
-
587,920
33,191
Unrestricted Funds
Unrestricted Funds		 Restricted
Funds
£
134,888
50,871
-
185,759
Restricted
Funds
£
144,916
43,285
-
188,201		 2022
Total
Funds
£
459,576
383,116
(67,499)
775,193
2021
Total
Funds
£
518,347
330,900
(39,935)
809,312

Page 15

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

THE TREFOIL GUILD

NOTES TO THE FINANCIAL STATEMENTS

17. Analysis of net movement in funds
Total funds
brought
forward
£
Restricted funds
Holiday fund
108,726
Bursary fund
91,999
Talking Trefoil
-
200,725
Unrestricted funds
Designated funds
SDR fund
30,679
Platinum fund
3,595
34,274
General fund
574,313
Total unrestricted funds
608,587
Total funds
809,312
Total funds
brought
forward
£
Restricted funds
Holiday fund
101,506
Bursary fund
86,646
Talking Trefoil
49
188,201
Unrestricted funds
Designated funds
SDR fund
29,596
Platinum fund
3,595
33,191
General fund
481,423
Total unrestricted funds
514,614
Total funds
702,815		 17. Analysis of net movement in funds
Total funds
brought
forward
£
Restricted funds
Holiday fund
108,726
Bursary fund
91,999
Talking Trefoil
-
200,725
Unrestricted funds
Designated funds
SDR fund
30,679
Platinum fund
3,595
34,274
General fund
574,313
Total unrestricted funds
608,587
Total funds
809,312
Total funds
brought
forward
£
Restricted funds
Holiday fund
101,506
Bursary fund
86,646
Talking Trefoil
49
188,201
Unrestricted funds
Designated funds
SDR fund
29,596
Platinum fund
3,595
33,191
General fund
481,423
Total unrestricted funds
514,614
Total funds
702,815		 2022
Total funds
brought
forward
£
108,726
91,999
-
200,725
30,679
3,595
34,274
574,313
608,587
809,312		 Total
incoming
resources
£
2,250
2,074
-
4,324
182
35
217
307,534
307,751
312,075		 Total
resources
Gains/(losses)
expended
on investments
£
£
(792)
(10,931)
(580)
(6,987)
-
-
(1,372)
(17,918)
(113)
(1,249)
-
-
(113)
(1,249)
(290,576)
(34,966)
(290,689)
(36,215)
(292,061)
(54,133)
2021		 Transfers
between
funds
£
-
-
-
-
490
-
490
(490)
-
-		 Total funds
carried
forward
£
99,253
86,506
-
185,759
29,989
3,630
33,619
555,815
589,434
775,193
Total funds
brought
forward
£
101,506
86,646
49
188,201
29,596
3,595
33,191
481,423
514,614
702,815		 Total
incoming
resources
£
1,841
1,470
-
3,311
171
-
171
337,886
338,057
341,368		 Total
resources
Gains/(losses)
expended
on investments
£
£
(828)
6,207
(596)
4,479
-
-
(1,424)
10,686
(115)
1,027
-
-
(115)
1,027
(273,788)
28,743
(273,903)
29,770
(275,327)
40,456		 Transfers
between
funds
£
-
-
(49)
(49)
-
-
-
49
49
-		 Total funds
carried
forward
£
108,726
91,999
-
200,725
30,679
3,595
34,274
574,313
608,587
809,312

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.

Page 16

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

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)		 2022
Total
Funds
£
459,576
459,576
-
-
877
877		 2021
Total
Funds
£
518,347
518,347
8,359
8,359
471
471

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		 2022
Total
Funds
£
13,728
(4,639)
9,089
(10,094)
(44,039)
(54,133)		 2021
Total
Funds
£
10,611
(4,757)
5,854
423
40,033
40,456

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

Page 17