|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|
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|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|||||||||||||
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|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|
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||||||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.|||
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|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|
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|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|
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