| TOWNSWOMEN'S GUILDS |
|
|---|---|
| REPORT AND FINANCIAL STATEMENTS | |
| FOR THE YEAR ENDED 31JANUARY 2021 | |
| CONTENTS | Page |
| Officers and professional advisers |
|
| Trustees' report | 2-10 |
| Independent Examiner's report |
|
| Statement of financial activities |
12 |
| Balance sheet | 13 |
| Notes to the financial statements | 15-22 |
| The Trustees | who served throughout | who served throughout | the year and at | the year and at | the year and at | the | date | date | of signing | of signing | these accounts | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| were: | ||||||||||||
| National | Office held | |||||||||||
| to 16September | from 16September | |||||||||||
| 2020 | 2020 | |||||||||||
| Ms M Brown | ||||||||||||
| Ms 8 Cobain | ||||||||||||
| Ms 8 Hales | Vice -Chairman | Vice -Chairman | ||||||||||
| Mrs M Lawton | Hon. | Treasurer | Hon. Treasurer | |||||||||
| Mrs K M Moore | (co-opted 12November | 2020) | ||||||||||
| Mrs C Nunn | ||||||||||||
| Ms P Ryan | Chairman | Chairman | ||||||||||
| Mrs J Watkins | ||||||||||||
| Mrs LYoung | ||||||||||||
| REGISTERED OFFICE | ||||||||||||
| 1st Floor, Gee House | Company | Registration: 05901323 | ||||||||||
| Gee Business | Centre | Registered | in England | |||||||||
| Holborn Hill |
||||||||||||
| Birmingham | Charities | Commission | Registration | No: 1115974 | ||||||||
| 875JR | ||||||||||||
| PROFESSIONAL ADVISERS | ||||||||||||
| Bankers | Independent | Examiner | ||||||||||
| NatWest Bank pic |
Stephen | Lewis (Chartered | Accountant) | |||||||||
| 6 Floor |
TrevorJones | lk Co | ||||||||||
| 2 St Philips Place | Old Bank | Chambers | ||||||||||
| Birmingham | 582-586 | Kingsbury | Road | |||||||||
| 832RB | Birmingham | |||||||||||
| 824 9ND | ||||||||||||
| Investment | advisers | |||||||||||
| Vestra Wealth | LLP | |||||||||||
| 14Cornhill | ||||||||||||
| London | ||||||||||||
| EC3V 3NR | ||||||||||||
| Accountants | ||||||||||||
| TrevorJones | Ik Co | |||||||||||
| Old Bank Chambers | ||||||||||||
| 582-586 Kingsbury | Road | |||||||||||
| Birmingham | ||||||||||||
| 824 9ND |
| otal costs | fell by an alm | ost matched f | 70, | 806.The main | elements ofthis |
|---|---|---|---|---|---|
| f | |||||
| Pandemic | related reduced events | 62,000 | |||
| Fall in Trustee expenses | due to lockdown | rules | 20,000 | ||
| Suspended | Advertising | 21,000 | |||
| Reduction | in investment | management | costs | 6,000 | |
| Additional | staff costs (see below) | 9,000 | |||
| Total savings | 118,000 | ||||
| Less Newsletter costs |
(49,000) | ||||
| Total cost | reductions | 69,000 |
| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| Note | E | E | |||||
| Income from: | |||||||
| 2 | Donations and legacies |
234,020 | 292,689 | ||||
| 3 | Charitable activities |
20,252 | 41,342 | ||||
| 4 | Other trading activities |
4,828 | 14,911 | ||||
| 5 | Investments | 18,762 | 25,852 | ||||
| 6 | Other income | 31,533 | 1,738 | ||||
| Total Income | 309,395 | 376,532 | |||||
| Expenditure on: |
|||||||
| 7 | Raising funds | 18,900 | 37,794 | ||||
| 8 | Charitable activities |
631,544 | 683,456 | ||||
| 650,444 | 721,250 | ||||||
| 15 | Net gains on investments | 27,780 | 138,483 | ||||
| Net expenditure | (313,269) | (206,235) | |||||
| Reconciliation offunds: |
|||||||
| Total funds brought forward | 1,283,780 | 1,490,015 | |||||
| 20 | Total funds carried forward | 970,511 | 1,283,780 | ||||
| All income and expenditure | derive from continuing | operations | and | are unrestricted | |||
| The Statement of Financial | Activities also complies | with the requirement for an |
|||||
| Income and Expenditure | Account under the Companies | Act 2006. | |||||
| The notes on pages 14-22form part ofthese financial | statements. |
| 2 | DONATIONS | 2021 | 2020 | |||
|---|---|---|---|---|---|---|
| E | ||||||
| Affiliation fees | 233,717 | 285,450 | ||||
| Raffle income | 6,918 | |||||
| General donations | 303 | 321 | ||||
| 234,020 | 292,689 | |||||
| 3 | INCOME FROM CHARITABLE ACTIVITIES | 2021 | 2020 | |||
| E | E | |||||
| Events | 6,120 | 30,092 | ||||
| Townswoman | Magazine | 14,132 | 11,250 | |||
| 20,252 | 41,342 | |||||
| 4 | OTHER TRADING ACTIVITIES | 2021 | 2020 | |||
| E | E | |||||
| Internet advertising |
receipts | 206 | 283 | |||
| Sale ofTG branded | goods | 4,622 | 14,628 | |||
| 4,828 | 14,911 | |||||
| 5 | INVESTMENT INCOME | 2021 | 2020 | |||
| f | E | |||||
| Income from | IJK listed investments | 11,302 | 11,977 | |||
| Income from | overseas listed investments | 7,392 | 13,740 | |||
| Bank interest | 68 | 135 | ||||
| 18,762 | 25,852 | |||||
| 6 | OTHER INCOME | 2021 | 2020 | |||
| E | E | |||||
| Coronavirus | Job Retention Scheme | 30,310 | ||||
| Closed guilds | and development | funds | 1,223 | 1,738 | ||
| 31,533 | 1,738 |
| 7 | RAISING FUNDS | RAISING FUNDS | 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| E | E | |||||||||
| Cost ofgoods sold | 12,607 | 13,713 | ||||||||
| Investment | management | fees | (1,176) | 4,532 | ||||||
| Raffle costs | 1,367 | |||||||||
| Other direct | costs | (including | direct | staff costs) | 2,864 | 6,386 | ||||
| Share ofsupport costs | (note 9) | 4,312 | 10,137 | |||||||
| Share ofgovernance | costs | (note 10) | 293 | 1,780 | ||||||
| 18,900 | 37,915 | |||||||||
| CHARITABLE | ACTIVITIES | Direct | Support | Governance | Total | |||||
| Costs | Costs | Costs | 2021 | |||||||
| 2021 | E | E | E | E | ||||||
| Events | 36,114 | 48,295 | 3,287 | 87,696 | ||||||
| Campaigns | 27,533 | 38,809 | 2,641 | 68,983 | ||||||
| Townswoman | Magazine | & | ||||||||
| Newsletter | 213,551 | 21,560 | 1,467 | 236,578 | ||||||
| Raising awareness | & | Guild | ||||||||
| development | 99,905 | 56,919 | 3,875 | 160,699 | ||||||
| Membership | management | & | ||||||||
| sUpport | 37,059 | 37,946 | 2,583 | 77,588 | ||||||
| 2021Total | 414,162 | 203,529 | 13,853 | 631,544 | ||||||
| note 9 | note 10 | |||||||||
| 2020 | Direct | Support | Governance | Total | ||||||
| Costs | Costs | Costs | 2020 | |||||||
| E | E | E | ||||||||
| Events | 98,132 | 52,712 | 8,627 | 159,471 | ||||||
| Campaigns | 27,016 | 40,547 | 6,636 | 74,199 | ||||||
| Townswoman | Magazine | 168,397 | 20,274 | 3,318 | 191,989 | |||||
| Raising awareness | & | Guild | ||||||||
| development | 122,204 | 50,684 | 8,295 | 181,183 | ||||||
| Membership | management | & | ||||||||
| 5Upport | 43,586 | 28,383 | 4,645 | 76,614 | ||||||
| 2020Tota I | 459,335 | 192,600 | 31,521 | 683,456 | ||||||
| note 9 | note 10 |
| 9 | SUPPORT COSTS | 2021 | 2020 | |
|---|---|---|---|---|
| f | f | |||
| Premises expenses | 43,148 | 46,036 | ||
| General office costs | 34,728 | 46,728 | ||
| Stafi - for those able to work | 35,729 | 109,973 | ||
| -for those on furlough | 41,589 | |||
| Redundancy costs |
52,647 | |||
| 207,841 | 202,737 | |||
| Allocated to: | ||||
| Raising Funds | 4,312 | 10,137 | ||
| Charitable activities |
203,529 | 192,600 | ||
| 207,841 | 202,737 | |||
| 10 | GOVERNANCE COSTS |
2021 | 2020 | |
| f | f | |||
| Independent examination |
fees | 1,250 | 2,475 | |
| Legal and professional | 7,752 | 5,761 | ||
| Trustees' expenses R meeting costs | 3,425 | 23,221 | ||
| Financial statements | 1,719 | 1,723 | ||
| 14,146 | 33,180 | |||
| Allocated to: | ||||
| Raising Funds | 293 | 1,780 | ||
| Charitable activities |
13,853 | 31,400 | ||
| 14,146 | 33,180 | |||
| 11 | NET EXPENDITURE | 2021 | 2020 | |
| f | ||||
| Net expenditure is stated after charging: |
||||
| Independent examination |
fees | 1,250 | 2,475 | |
| Depreciation oftangible fixed assets |
||||
| Owned assets | 2,571 | 3,116 | ||
| Leased assets | 5,573 | 5,573 | ||
| Amortisation of intangible |
assets | 5,040 | 5,040 | |
| Operating lease rentals |
||||
| Property | 19,684 | 19,684 | ||
| Otherleases | 283 | 2,905 |
| 12 | INFORMATION REGARDING EMPLOYEES AND TRUSTEES |
INFORMATION REGARDING EMPLOYEES AND TRUSTEES |
2021 | 2020 | 2020 | |||
|---|---|---|---|---|---|---|---|---|
| E | E | |||||||
| Salaries | 231,524 | 202,278 | ||||||
| Freelance and temporary staff |
17,894 | |||||||
| Social security costs | 14,617 | 16,266 | ||||||
| Pension costs | 19,899 | 20,739 | ||||||
| 266,040 | 257,177 | |||||||
| The management ofTG is undertaken by the Trustees with |
support | from | key | |||||
| Included in total staff costs are the following: |
2021 | |||||||
| Redundancy costs ofthree members ofstaff being statutory |
redundancy | pay | ||||||
| and sums paid for unworked notice periods together with |
related | costs | 52,647 | |||||
| Costs of fulough periods not worked due to pandemic |
41,589 | |||||||
| For which Government funds were received (included |
in other | income) | (30,310) | |||||
| Net cost borne by Townswomen's Guilds |
11,279 | |||||||
| 2021 | 2020 | |||||||
| Number | Number | |||||||
| Average number ofemployees calculated on a full-time |
||||||||
| equivalent basis |
||||||||
| Employed wholly on administration and management |
||||||||
| Employed partly on direct charitable activities and partly |
||||||||
| on administration and management |
||||||||
| There is no material difference between the full-time equivalent |
number | ofemployees | ||||||
| and the average monthly number ofemployees. |
||||||||
| There were no employees whose emoluments exceeded |
E60,000 in either year. | |||||||
| None ofthe NEC, or persons related or connected by business to them, |
received | any | ||||||
| remuneration during the year (2020: Nil). |
||||||||
| During the year the total expenses reimbursed to 7(2020: 12) |
members | ofthe | NEC | |||||
| amounted to E2,0262020:E12,650).This principally represents |
travelling | and | subsistence | |||||
| expenses incurred in the management ofthe charity's affairs. |
||||||||
| The charity has arranged insurance to protect the charity |
from | loss arising from | neglect of | |||||
| default ofits trustees, employees or agents and to indemnify the trustees from |
the | |||||||
| consequence of any neglect or default on their part. The |
annual | cost ofsuch insurance, | ||||||
| which also covers the trustees and officers of individual guilds and federations, |
was | E2,800 | ||||||
| (2020:E2,800). | ||||||||
| The NEC is not aware of any material transaction, contract or other arrangement |
with any | |||||||
| connected person. |
| TOWNSWOMEN'S GUILDS |
TOWNSWOMEN'S GUILDS |
TOWNSWOMEN'S GUILDS |
TOWNSWOMEN'S GUILDS |
|---|---|---|---|
| NOTES TO THE FINANCIAL STATEMENTS forthe year ended 31January 2021 | |||
| (continued) | |||
| 13 | INTANGIBLE FIXEDASSETS | Database | |
| E | |||
| Cost | |||
| At 31January 2020 and 31January 2021 | 25,200 | ||
| Depreciation | |||
| At 31January 2020 | 7,140 | ||
| Charged in the year |
5,040 | ||
| At 31January 2021 | 12,180 | ||
| Net book value | |||
| At 31January 2021 | 13,020 | ||
| At 31January 2020 | 18,060 | ||
| 14 | TANGIBLE FIXEDASSETS - HELD FOR CHARITY USE | Office furniture | |
| and equipment | |||
| Cost | E | ||
| At 1February 2020 | 43,875 | ||
| Disposals offully depreciated | assets | (2,717) | |
| 31January 2021 | 41,158 | ||
| Accumulated depreciation |
|||
| At 1February 2020 | 27,884 | ||
| Charged in the year |
8,144 | ||
| Disposals offully depreciated | assets | (2,717) | |
| At 31January 2021 | 33,311 | ||
| Net BookValue | |||
| At 31January 2021 | 7,847 | ||
| At 31January 2020 | 15,991 |
| 15 | INVESTMENTS | 2021 | 2020 | ||||
|---|---|---|---|---|---|---|---|
| E | E | ||||||
| Market value 1February | 2020 | 1,288,648 | 1,417,003 | ||||
| Additions at cost | 386,108 | 529,900 | |||||
| Disposals at market value | (727,749) | (796,738) | |||||
| Gains/(losses) in market value |
27,780 | 138,483 | |||||
| Market value 31January | 2021 | 974,787 | 1,288,648 | ||||
| Market Value | Cost | ||||||
| 2021 | 2020 | 2021 | 2020 | ||||
| E | E | E | |||||
| IJK listed investments | 259,053 | 424,717 | 262,567 | 390,074 | |||
| Overseas listed investments |
607,762 | 802,447 | 443,453 | 674,596 | |||
| Total investments | 866,815 | 1,227,164 | 706,020 | 1,064,670 | |||
| Cash held by investment | managers | 107,972 | 61,484 | 107,972 | 61,484 | ||
| 974,787 | 1,288,648 | 813,992 | 1,126,154 | ||||
| Investments are valued |
at bid price. | ||||||
| 16 | DEBTORS | 2021 | 2020 | ||||
| E | E | ||||||
| Prepayments and accrued |
income | 33,408 | 10,932 | ||||
| Other debtors | 2,160 | 7,369 | |||||
| 35,568 | 18,301 | ||||||
| All amounts fall due within one year. |
|||||||
| 17a | CREDITORS: Amounts | falling due within one year | 2021 | 2020 | |||
| E | E | ||||||
| Trade creditors | 71,333 | 38,528 | |||||
| Other taxes and social | security | 2,706 | 5,041 | ||||
| Accruals | 33,197 | 26,622 | |||||
| Other creditors | 23 | 1,124 | |||||
| Deferred income (see | 17b) | 256 | 527 | ||||
| Obligations under finance |
leases | 5,802 | 4,961 | ||||
| 113,317 | 76,803 |
| 17b | DEFERRED INCOME | DEFERRED INCOME | 2021 | 2020 | |
|---|---|---|---|---|---|
| E | |||||
| Deferred | income brought | forward | 527 | 7,072 | |
| Released | in year | (306) | (6,851) | ||
| Deferred | in year | 35 | 306 | ||
| Deferred | income carried | forward | 256 | 527 |
| Deferred income relates | Deferred income relates | to the sale oftickets for events occurring after the year end for | to the sale oftickets for events occurring after the year end for | to the sale oftickets for events occurring after the year end for |
|---|---|---|---|---|
| which income | has been | received in advance. |
||
| CREDITORS: | 2021 | 2020 | ||
| Amounts | falling due after more than one year | E | E | |
| Obligations under finance leases |
2,226 | 8,028 | ||
| Total amounts | payable | under finance leases | 2,314 | 16,639 |
| Total | Total | |
|---|---|---|
| Property leases | 2021 | 2020 |
| E | E | |
| Not later than one year | 19,687 | 19,687 |
| Later than one year and not later than five year | 6,196 | 25,583 |