## 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:-
- i. Manage and regulate the affairs of The Trefoil Guild and promote new ideas and projects,
- ii. Provide an efficient channel of communication between the Central Administration and local guilds,
- iii. Promote co-operation and support between The Trefoil Guild and other organisations to which it is linked such as WAGGGS,
- iv. Act with the Treasurer on all matters relating to finance,
- v. Appoint such sub-committees as may be necessary for its effective working,
- vi. Present an annual report and accounts to the Annual Meeting of The Trefoil Guild.
**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:
- Keeping alive among the members the spirit of the Guide and Scout Promise and Laws,
- Carrying that spirit to the communities in which members live and work, and
- Giving practical, moral and financial support to Guiding and Scouting at local, national and international level.
During the year under review the charity has worked on the forward plan to achieve its objectives and concentrate on its three main objectives:
- Review our organizational structure and support networks to include a digital strategy. This acknowledges that good communication is essential to our organization
- To grow our membership by encouraging new members and retaining existing members by being welcoming and offering an exciting programme
- To develop our four key messages
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 reSoUrS 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 Dernr 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 Caled 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 exeded £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 ce 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 COnM5 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{APLaCl
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:
- Raising funds; these include investment management fees charged by the charity's investment managers.
- Charitable activities; these include grants to third parties and the costs of administering the charity inclusive of governance costs.
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**