## 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:-
- 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 members of The Trefoil Guild.
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:
- 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:
**Page 3**
## **THE TREFOIL GUILD**
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
## **REPORT OF THE TRUSTEES**
- 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 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 –
- a. Continuing to support Countries and Regions 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
- c. Enhancing members’ services.
**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:
- 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.
**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**