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2023-12-31-accounts

The Trefoil Guild

Trustees’ Report and Unaudited Financial Statements

for the year ended 31 December 2023

Registered Charity Number 1075232

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

INDEX

Page
Charity information 1
Report of the Trustees 2
Independent Examiner’s report 7
Statement of financial activities 8
Balance sheet 9
Accounting policies 10
Notes to the financial statements 13

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

CHARITY INFORMATION

Trustees

Mrs Dianne Bollom Mrs Kristian Clarke (from 1 September 2023) Mrs Karen Cochrane Mrs Hilary Crane Mrs Elaine Diack Mrs Heather Hern Mrs Susan Hogg Mrs Jean Kelly

Mrs Sheila Leete Mrs Chris Martin Mrs Eileen Martin Mrs Lesley Mathews Mrs Sheran Oke Mrs Evelyn Walker Mrs Jennifer Watson

Principal office

17-19 Buckingham Palace Road London SW1W 0PT

Registered charity number

1075232

Independent Examiner

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

Bankers

CCLA Investment Unity Trust Bank plc Management Ltd Nine Brindleyplace 80 Cheapside Birmingham 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

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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 2023. 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 operates under a Constitution which was last updated in June 2023. The Trefoil Guild was 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 four 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 SubCommittee, 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 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 regularly key risks by which The Trefoil Guild is likely to be affected and systems and procedures have been established to manage the risks identified.

Page 2

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

REPORT OF THE TRUSTEES

Governance

The Trefoil Guild is a branch of The Guide Association but is independently administered and is selfsupporting. The administration of The Trefoil Guild throughout the United Kingdom, and Trefoil Guilds in Foreign Countries is vested in the Board of Trustees of The Trefoil Guild. Regulation is by the Trustees. The Board of Trustees is empowered to:-

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 Communications and Engagement 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:

Page 3

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

REPORT OF THE TRUSTEES

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 split into board of trustee and operational meetings. There has been one change of trustee during the year. We welcomed our new communications and engagement adviser (the role was formerly public relations adviser).

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 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.

2023 was our 80th Anniversary which was celebrated across countries and regions. Our 80th Anniversary challenge was enjoyed by both Trefoil members and all sections of Girlguiding, resulting in the sale of 27,113 badges.

Communication and digital strategy

We continue to produce 4 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 access to our database, KEY.

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. 230 members celebrated their 90th birthday and several their 100th birthday.

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

The Silver Brooch for outstanding service to Trefoil Guild has been presented to 1 member this year.

Page 4

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

REPORT OF THE TRUSTEES

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

Our TOPAZ programme has continued with teams visiting Lesotho in March 2023 and Thailand In November 2023.

The Voyage award continues to be very popular with over 3330 registered since the start. During 2023, 46 members completed gold, 52 silver and 81 bronze.

Our STARS (Skills, Together, Action, Roam, Self) challenge helps guilds to create varied, interesting, inclusive, and meaningful programmes to help retain and attract members, with badges for the 5 themes which together form a star – this continues to be popular with our members too.

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 deficit of £783 (2022 surplus: £20,014) before gains on investments of £24,619 (2022 losses: £54,133).

At 31 December 2023, the charity’s free reserves (i.e. unrestricted funds not represented by fixed assets) totalled £565,649 (2022: £555,815) with £35,116 (2022: £33,619) designated for specific purposes as set out in the notes to the accounts.

Trefoil Guild’s investments were valued at £479,794 (2022: £459,576) at the balance sheet date and formed part of the net assets of each fund as follows: The Unrestricted Fund at £326,919 (2022: £313,492), the SDR Fund at £11,676 (2022: £11,196), the Holiday Fund at £82,006 (2022: £77,795) and the Bursary Fund at £59,193 (2022: £57,093). Grants from the restricted and designated funds have been made when requested. The Holiday Fund, the Bursary 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 no more than two years of 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 £565,649 at 31 December 2023 represent 141% of this year’s expenditure (2014 – 182%, 2015 – 156%, 2016 – 159%, 2017 – 119%, 2018 – 119%, 2019 – 119%, 2020 – 209%, 2021 – 210%, 2022 – 191%). The Trustees plan to reduce this level of reserve by –

Page 5

THE TREFOIL GUILD UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 REPORTOFTHE 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 Tnjstees to prepare financiol 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 finoncial statements. the Trustees ore required to: select suitable accounting policies and then apply them consistently" observe the methods ond principles in the Charities SORP 2019 (FRS102). make judgements and estimates that are reasonable and prudent: state whether applicable accounting standards have been followed. subject to any material departures 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 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. APPOINTMENTOF INDEPENDENTEXAMINER Geoffrey Frost has indicated his willingness to act as Independent Examinerfor the yearto 31 December 2024 and a resolution to appoint him will be put to the Board of Trustees. Approved by the Trustees and signed on their behalf. Trustee Date Page 6

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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 2023 which are set out on pages 8 to 23.

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 a 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

20 May 2024 Date

Page 7

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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
Walk
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
£
793
259,431
32,890
57,792
29,020
14,060
393,986
3,108
22,758
373,803
-
399,669
15,241
1,773
11,331
-
11,331
589,434
600,765		 Restricted
Funds
£
-
-
-
-
-
6,193
6,193
1,293
-
-
-
1,293
7,137
468
12,505
-
12,505
185,759
198,264		 2023
Total
Funds
£
793
259,431
32,890
57,792
29,020
20,253
400,179
4,401
22,758
373,803
-
400,962
22,378
2,241
23,836
-
23,836
775,193
799,029		 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

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

Page 8

THETREFOIL GUILD UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 BALANCE SHEEf AS AT 31 DECEMBER 2023 2022 Note FIXED ASSE Tangible ossets Investments 479.794 459.F16 Total fixed assets 479,794 459,576 CURRENT ASS￿$ Stock 11,276 8.587 Debtors 14 19.783 26288 Cosh at hand and in bank 356.957 348.241 Totul current assets 388.016 383.116 CURRENT LIABILITIES Creditors-. amounts falling due within one year 15 68,781 67,499 Net currenl asseisl(liabilities) 319.235 315.617 Net assets 799.029 775.193 THE FUNDS OFTHE CHARITY Expendable endowment funds Designated funds SDR fund 198,264 185,759 31.327 29.989 Platinum fund 3.789 3.630 35.116 33.619 General fund 565.649 555.815 Totol unrestricted funds 600.765 589.434 Total churilyfund$ 799.029 775,193 The financial statements on pages 8 to 23 were approved and authorised by the Trustees on ........._.. their behalf by. .ond igned on Trustee Page 9

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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:

Page 10

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

ACCOUNTING POLICIES

Resources expended (continued)

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.

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.

Stocks

Stocks consist of awards and neckers and are held at cost.

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.

Page 11

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

ACCOUNTING POLICIES

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 12

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

NOTES TO THE FINANCIAL STATEMENTS

1. Income from donations and legacies

Donations
Legacies		 Unrestricted
Funds
£
793
-
793		 Restricted
Funds
£
-
-
-		 2023
Total
Funds
£
793
-
793		 Unrestricted
Funds
£
178
-
178		 Restricted
Funds
£
-
-
-		 2022
Total
Funds
£
178
-
178

2. Income from charitable activities

2. Income from charitable activities
Unrestricted
Funds
£
Membership subscriptions
259,431
Members' activities and services provided
Magazine advertising
4,434
Annual meetings and badges
18,484
Advisors meeting
2,080
Sales
5,041
TOPAZ
1,037
Voyage Award
1,814
32,890
Members' Gathering
57,792
Walk
29,020
379,133		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-		 2023
Total
Funds
£
259,431
4,434
18,484
2,080
5,041
1,037
1,814
32,890
57,792
29,020
379,133		 Unrestricted
Funds
£
264,434
3,062
20,891
2,650
4,029
1,440
1,663
33,735
-
-
298,169		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-		 2022
Total
Funds
£
264,434
3,062
20,891
2,650
4,029
1,440
1,663
33,735
-
-
298,169

Page 13

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

NOTES TO THE FINANCIAL STATEMENTS

3. Income from investments

Unrestricted
Funds
£
Dividend income & interest received
14,060
14,060
4. Expenditure on raising funds
Unrestricted
Funds
£
Investment management fees
3,108
3,108		 Restricted
Funds
£
6,193
6,193
Restricted
Funds
£
1,293
1,293		 2023
Total
Funds
£
20,253
20,253
2023
Total
Funds
£
4,401
4,401		 Unrestricted
Funds
£
9,404
9,404
Unrestricted
Funds
£
3,267
3,267		 Restricted
Funds
£
4,324
4,324
Restricted
Funds
£
1,372
1,372		 2022
Total
Funds
£
13,728
13,728
2022
Total
Funds
£
4,639
4,639

5. Expenditure on charitable activities - grants to individuals

GOLD grants
TOPAZ grants
Starter packs
Grants to Trefoil members and
Donations
Recruitment grant		 Unrestricted
Funds
£
13,245
5,600
3,788
125
-
22,758		 Restricted
Funds
£
-
-
-
-
-
-		 2023
Total
Funds
£
13,245
5,600
3,788
125
-
22,758		 Unrestricted
Funds
£
4,940
-
3,094
170
-
8,204		 Restricted
Funds
£
-
-
-
-
-
-		 2022
Total
Funds
£
4,940
-
3,094
170
-
8,204

Page 14

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

NOTES TO THE FINANCIAL STATEMENTS

2023
Unrestricted
Restricted
Total
Funds
Funds
Funds
£
£
£
Membership support
Direct costs
103,396
-
103,396
Support costs
84,114
-
84,114
187,510
-
187,510
Trefoil magazine
Direct costs
88,572
-
88,572
Support costs
12,608
-
12,608
101,180
-
101,180
Annual report
Direct costs
-
-
-
Support costs
9,848
-
9,848
9,848
-
9,848
Annual meeting
Direct costs
27,846
-
27,846
Support costs
19,506
-
19,506
47,352
-
47,352
WAGGGS Europe Levy
Direct costs
(4,500)
-
(4,500)
Support costs
-
-
-
(4,500)
-
(4,500)
Governance costs
Direct costs
20,513
-
20,513
Support costs
11,900
-
11,900
32,413
-
32,413
373,803
-
373,803
6. Expenditure on charitable activities - members' activities and services		 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

Page 15

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

NOTES TO THE FINANCIAL STATEMENTS

7. Expenditure on charitable activities - Contributions

Contributions
8. Examiner's fees
Independent examiner's fees		 Unrestricted
Funds
£
-
-
Unrestricted
Funds
£
1,650		 Restricted
Funds
£
-
-
Restricted
Funds
£
-		 2023
Total
Funds
£
-
-
2023
Total
Funds
£
1,650		 Unrestricted
Funds
£
1,000
1,000
Unrestricted
Funds
£
1,650		 Restricted
Funds
£
-
-
Restricted
Funds
£
-		 2022
Total
Funds
£
1,000
1,000
2022
Total
Funds
£
1,650

9. Wages and salary cost

Gross wages
Employer's national insurance costs
Employer's pension contributions		 2023
Total
Funds
£
102,087
8,488
8,422
118,997		 2022
Total
Funds
£
87,210
8,170
7,741
103,121

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:

2023 2022
Administration of charitable activities 4 3
The number of staff to whom retirement benefits are accruing under defined contribution schemes, analysed by function was:
2023 2022
Administration of charitable activities 4 3

Page 16

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

NOTES TO THE FINANCIAL STATEMENTS

10. Related party transactions

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.

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.

Fifteen (2022: Seventeen) Trustees or their representatives were reimbursed or had expenses paid on their behalf for travel and subsistence totalling £7,360 (2022: £8,442) during the year under review.

11. Fixed assets - charity

Cost
At 1 January 2023
Additions
Disposals
At 31 December 2023
Depreciation
Accumulated at 1 January 2023
Charge for the year
On disposals
At 31 December 2023
Net book value at 31 December 2023
Net book value at 31 December 2022		 Office
equipment
£
13,352
-
-
13,352
13,352
-
-
13,352
-
-		 Total
£
13,352
-
-
13,352
13,352
-
-
13,352
-
-

Page 17

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

NOTES TO THE FINANCIAL STATEMENTS

Investments
£
Reconciliation of movement on investments
Market value brought forward
449,951
Additions at cost
177,605
Disposals at carrying value
(175,313)
Gain/(Loss) on revaluation
22,378
Net increase/(decrease) in cash
-
Market value carried forward
474,621
Gains/(losses) on investments
Unrealised (from above)
22,378
Realised on disposals
2,241
24,619
The investments above are analysed as follows:
Cash and cash equivalents
-
Listed investments
474,621
474,621
12. Fixed asset investments - managed funds		 Cash
£
9,625
-
-
-
(4,452)
5,173
-
-
-
5,173
-
5,173		 2023
Total
Funds
£
459,576
177,605
(175,313)
22,378
(4,452)
479,794
22,378
2,241
24,619
5,173
474,621
479,794		 Investments
£
511,749
94,411
(112,170)
(44,039)
-
449,951
(44,039)
(10,094)
(54,133)
-
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

13. Stock

Brooches
Voyage Award materials
Stars badges
Other badges and items
Neckers		 2023
Total
Funds
£
714
2,107
2,699
779
4,977
11,276		 2022
Total
Funds
£
790
2,252
3,208
633
1,704
8,587

Page 18

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

NOTES TO THE FINANCIAL STATEMENTS

14. Debtors

Trade debtors
Prepayments and accrued income
Trade creditors
Payroll, social security and pension costs
Accruals and deferred income
Other creditors
15. Creditors: amounts falling due within one year		 2023
Total
Funds
£
3,419
16,364
19,783
2023
Total
Funds
£
16,916
36,749
14,662
454
68,781		 2022
Total
Funds
£
-
26,288
26,288
2022
Total
Funds
£
877
25,889
40,135
598
67,499

Page 19

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

NOTES TO THE FINANCIAL STATEMENTS

16. Analysis of net assets between funds

16. Analysis of net assets between funds
Fixed assets
Current assets
Current liabilities
Fixed assets
Current assets
Current liabilities		 General
Designated
Funds
Funds
£
£
326,919
11,676
307,511
23,440
(68,781)
-
565,649
35,116
General
Designated
Funds
Funds
£
£
313,492
11,196
309,822
22,423
(67,499)
-
555,815
33,619
Unrestricted Funds
Unrestricted Funds		 Restricted
Funds
£
141,199
57,065
-
198,264
Restricted
Funds
£
134,888
50,871
-
185,759		 2023
Total
Funds
£
479,794
388,016
(68,781)
799,029
2022
Total
Funds
£
459,576
383,116
(67,499)
775,193

Page 20

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

NOTES TO THE FINANCIAL STATEMENTS

17. Analysis of net movement in funds

Restricted funds
Holiday fund
Bursary fund
Other restricted
Unrestricted funds
Designated funds
SDR fund
Platinum fund
General fund
Total unrestricted funds
Total funds
Restricted funds
Holiday fund
Bursary fund
Other restricted
Unrestricted funds
Designated funds
SDR fund
Platinum fund
General fund
Total unrestricted funds
Total funds		 2023
Total funds
brought
forward
£
99,253
86,506
-
185,759
29,989
3,630
33,619
555,815
589,434
775,193		 Total
incoming
resources
£
3,082
3,111
-
6,193
983
159
1,142
392,844
393,986
400,179		 Total
Transfers
resources
Gains/(losses)
between
expended
on investments
funds
£
£
£
(749)
4,960
-
(544)
2,645
-
-
-
-
(1,293)
7,605
-
(232)
587
-
-
-
-
(232)
587
-
(399,437)
16,427
-
(399,669)
17,014
-
(400,962)
24,619
-
2022		 Total funds
carried
forward
£
106,546
91,718
-
198,264
31,327
3,789
35,116
565,649
600,765
799,029
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
Transfers
resources
Gains/(losses)
between
expended
on investments
funds
£
£
£
(792)
(10,931)
-
(580)
(6,987)
-
-
-
-
(1,372)
(17,918)
-
(113)
(1,249)
490
-
-
-
(113)
(1,249)
490
(290,576)
(34,966)
(490)
(290,689)
(36,215)
-
(292,061)
(54,133)
-		 Total funds
carried
forward
£
99,253
86,506
-
185,759
29,989
3,630
33,619
555,815
589,434
775,193

Page 21

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

NOTES TO THE FINANCIAL STATEMENTS

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.

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.

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)		 2023
Total
Funds
£
479,794
479,794
3,419
3,419
16,916
16,916		 2022
Total
Funds
£
459,576
459,576
-
-
877
877

Page 22

THE TREFOIL GUILD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

NOTES TO THE FINANCIAL STATEMENTS

19. Financial instruments (continued)

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		 2023
Total
Funds
£
20,253
(4,401)
15,852
2,241
22,378
24,619		 2022
Total
Funds
£
13,728
(4,639)
9,089
(10,094)
(44,039)
(54,133)

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

Page 23