townswomen's guilds
REPORT AND FINANCIAL STATEMENTS
31 JANUARY 2025
ReBlstered Charlty numb•r: 1115974
Re8isiered Lompany number: Sg1)1323

TOWNSWOMEN'S GUILDS
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
CONTENTS
Page
Officers and professional advisers
Trustees, report
2-10
Independent Examiner's report
11
Statement of financial activities
12
Balance Sheet
13
Notes to the financial statements
14-22

TOWNSWOMEN'S GUILDS
OFFICERS AND PROFESSIONAL ADVISERS
FOR THE YEAR ENDED 31 JANUARY 2025
The Trustees who served throughout the year and at the date of signing these accounts
were:
National Office held
Ms B Hales
Ms L Howells
Ms M Brown
Mrs L Lewis
Mrs K M Moore
Mrs S Stebbing
Chairman
Vice-Chairman/Treasurer
Treasurer
Secretary
REGISTERED OFFICE
1st Floor, Gee House
Gee Business Centre
Holborn Hill
Birmingham B7 5JR
Company Registration: 05901323
Registered in England
Charities Commission Registration No: 1115974
PROFESSIONAL ADVISERS
Bankers
Natwest Bank plc
th
6 Floor
2 St Philips Place
Birmingham
B3 2RB
Independent Examlner
Stephen Lewis (Chartered Accountant)
LMH Accountants Ltd T/a Trevor Jones & Co
Old Bank Chambers
582-586 Kingsbury Road
Birmingham B24 9ND
Investment advlsers
Vestra Wealth LLP
14 Cornhill
EC3V 3NR
Accountants
LMH Accountants Ltd
T/a Trevor Jones & Co
Old Bank Chambers
582-586 Kingsbury Road
Birmingham

TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED 31 January 2025
The Trustees of Townswomen's Guilds ITGI, who together form the National Executive
Committee {NECI and are also the Directors of TG for the purposes of Company Law, present
their annual report to members and the wider public.
Objectives and Activities
TG is a national organisation which acts as an umbrella for the member guilds who operate
autonomously throughout the United Kingdom. The structure of the organisation is
explained more fully under the heading Structure, Governance and Management.
The objects of TG, found in it's Memorandum of Association, are to undertake any charitable
purposes but more specificallv..
to advance the education of women irrespective of race, creed and party so as to enable
them to make the best contribution towards the common good, and to develop their
individual capabilities, competences, skills and understanding.
to educate people, but in particular women, on the principals of good citizenship and in all
public questions, both national and international,
to advance the education of the public by carrying out research into any public
questions, whether local, national, or international, and publishing the useful results of
such research.
to advance the educatlon of the public by promoting public understanding of any subject
of educational value where women have particular knowledge or experience.
to provide or assist in the provision of facilities for recreation or other leisure time
occupation, including for creative and performing arts and crafts, in particularforwomen
but also for such individuals who have a need for such facilities in the interests of social
welfare and with a view to improving their conditions of life; and
to advance citizenship for the public benefit by the promotion of civic responsibility and
volunteering so that people become active members of society.
During the year the NEC has continued meeting monthly on Zoom for our Board meetings.
These are working very well, only taking a few hours instead of the 3-day, 2-night stay in
Birmingham that it Used to be. This has been a two-fold benefit as it has saved TG money i.e.
not travelling and hotel costs, and also time so that we can concentrate on supporting the
guilds and federations in our areas.
Achievements and Performance
Education and Event5
Throughout the year Beryl Hales has continued to hold a weekly quiz via Zoom and each
month has put on an online evening. Every month is a different topic eg. You'vegota Friend in
Me, BatAppreciation Weekand A TG Christmas Cracker, These events are very much appreciated by
the audience, and it is open to all our members.

We are using social media more; TG is on Facebook and Instagram and they are both
valuable tools to promote TG. Ourguilds are also using Facebook to advertise their events and
post their activitie5, SO that otherguilds can get ideas for their meetings.
In April and October, we sent out issues of Townswoman magazine and throughout the year,
four editions of our newsletter TG Together" went to every member, either by email or
post. We also sent two mailings in Spring and Autumn to all Guilds and Federations primary
contacts to pass on to the members. These included 'How to apply for AGM tickets" the TG
insurance certificate and detailsfortheyear, the mandate selected fordiscussion attheAGM,
how affiliation fees were spent, and details and encouragement about Operation
Townswomen.
In March the National International Women's Day event was held in Norwich with three
th
fascinating speakers. Members also pledged to help TG reach our 100 birthday, with raffle
proceeds donated to Operation Townswomen.
The Final of the National General Knowledge Quiz was held online in April 2024when 8 teams
tookpart using Zoom.
Our AGM was held in Coventry in June, and we were fortunate to have our Patron, HRH, The
th
Princess Royal present to help us celebrate our 95 Anniversary and cut our anniversary
cake,
At the AGM Marilyn Lawton retlred a5 Honorary Treasurer after completlng her nine years
on the NEC. We thank Marilyn for all her hard work although she will still be supporting
Guilds in her area.
Maureen Brown and Lesley Howells will be taking bn the role of Honorary Treasurers with
the help of Trevor Jones Chartered Accountants. This was necessary as no Members came
forward to volunteer and we were unable to find anyone through outside sources.
We also welcomed Karen Moore in her new role as nominal Company Secretary and Le51ey
Howells as Vice chair. We have not been able to recruit new Trustees this year, and this is a
concern for the NEC.
The ABC Award winner for services to her community was won by Kathleen Reader of Alsager
Pikemere Guild and the winners of the National General Knowledge Quiz were Solihull
Blossomfield Guild who had retained the title. Both awards were presented by the National Chair
Beryl Hales.
Our Patron, HRH The Princess Royal, presented the Chair's Award to Jean Martin together with
the Most New Members Award which was won jointly by Wellington (E) Guild and Eastwood
Cockethurst and SedgeleylE) each having recruited 20 new members.
We held our National Carol Service at St Mary and All Saints Parish Church in Chesterfield in
December. The TG Singes(Sedgeley} took part as well as the Trustees.

Campalgns
Rhiannon Batsford our Campaigns Co-ordinator kept Trustees updated on the progress of
campaigns.
Domestic abuse - we have been working with the End Violence Against Women coalition to
support its initiatives and we are encouraging members to wear orange on the 25th of each
month to draw attention to domestic violence.
In our Hands - we are continuing to encourage our members to raise awareness of Climate
Change through our Facebook page and campaign in their local areas,
Recruitment
In January 2024 we publicly launched Operatlon Townswomen on Facebook with a series
of vldeos aimed at both TG members and the public.
The videos aimed to encourage the recruitment of new members and provide guilds with
direction in how they could recruit members to their own guilds or advice on how to
encourage younger people to form their own Guilds.
Trustees went out and about to Guilds and Public events to promote Operation
Townswomen and many Guilds followed their example and went out and promoted TG, and
we have seen a rise in new members as a result, unfortunately, this has not offset the
continued decline in membership.
The weekly quiz and monthly Zoom events hosted by Beryl Hales are also used for
recruitment.
We have had new merchandise this year in the form of a Floral Magnet 95th Anniversary
Magnet, a new Floral Fun and Friendship Badge and a TG Compact Mirror.
External relatlons
TG continues to be part of the'six O, Network and have met on Zoom throughout the year.
Banking problems are kept under discussion because, just like our guilds and federations,
they are affected as well, Matters related to climate change and domestic violence also
remain on the group's agenda. More recently we have been looking at how as a group we
can increase our effectiveness,
As previously mentioned, we have joined in with Climate Change events throughout the
year as this is an ongoing and ever evolving concern.
Headquarters
Joanne, Nancy, Sara, Rhiannon, and Helen have all been busy at the office and working frorn
home to keep the business side of TG going, answering phone calls, handling affiliation,
sending out to help us in any way that they can. They are always very supportive of the
members and the Trustees and are very friendly and helpful.
At the beginning of 2025 we offered the staff the opportunity to volunteer for redundancy

and Sara Trayer5 accepted and left TG in April 2025. We thank Sara for all her hard work
over the years.
Membershlp
Our membership has been declining for several year5, and this is continuing year on year.
We have had a new Guild open in Halesowen.
Future plans
It has been decided by the Trustees that it is necessary to close Townswomen's Guilds the
Registered Company Number 5901323 and Townswomen's Guilds the Registered Charity
Number 1115974.
A resolution to close the company and charity was agreed unanimously at a Trustee
Meeting held on Wednesday 23rd April 2025.
To ensure that the closure is conducted correctly it has proven necessary to take
professional advice and we are waiting to hear from our legal team to advise how we should
proceed.
Thls does not mean that the Indlvldual Townswomen's Gullds around the country need
to Close.
Why we have decided we need to close
The members of the National Executive Committee are both Trustees of the Charity and
Directors of the company. As Directors of the company, we have a fiduciary duty to ensure
that the company is viable, and we believe that by continuing we will drift into insolvencv
and we wish to avoid this.
We firmly believe that this course of action, a planned closure, is fairer to both staff and
members.
The plan will be to close membership on 31st January 2026 and complete the accounts for
2025/26 and with the help of our Accountants wind up the Company and the Charity.
The following problems are the main reasons we have come to this decision:
Declining Membership membership has been declining for several years and this is
continuing year on year.
Year
Members
Guilds
2020
17,000
472
2024
9,769
281
Currently
8,444
249

Increasing costs: Despite reducing costs over the years including making staff
redundant as membership declined, reducing the number of magazines to members
and reducing the number and cost of events we still cannot balance our books and
needed to increase our Affiliation Fees this year to £25.00.
The following graph shows that despite these cost reductions we are Still having to
Use our reserves, and they are continuing to decline.
1600000
Total Funds for Townswomen's Guilds
' 1400000
1200000
1000000
800000
600000
400000
200000
Year
•I￿valUe b
2020
ht forward
2022
bFLind8 ro¥èyi Irom Rese&(￿4
A further increase in Affiliatlon Fees would be required and members have told us
how hard it is to pay the increased costs of the Affiliation Fees and by closing in 2026
Guilds would no longer have this cost.
Why 2026 is the time to Close the Notional Compony and Charity
Insurance: Our brokers have found it difficult to find anyone willing to insure us this
vear and it has resulted in our insurance costs increasing from £7,308.24 to
£12,314.75. It is extremely unlikely that we will be able to get insurance next year
and we would need to change our Articles of Association and Guilds would be
required to obtain their own insurance cover.
By closing in 2026 Guilds can use part of the Affiliation fees to fund their insurance
costs
Lease renewal.. We are coming to the end of our current lease on our Headquarters,
May 2026, and we had planned to move to a smaller 5Ulte of offices within Gee House
to save money. However, we have been informed that there will no longer be any
commercial advantage to this.
Trustees: We have been struggling along for many years with less than the ideal

number of Trustees112) and nowwe only have 6Trustees. When Beryl's time as Chair
is over, we would have only 5
By closing in 2026 we are being fairer to the remaining Trustees as we are all willing
to continue to see the closure process completed.
Reserves: We currently have enough reserves to continue for a further year or two
at most and we wish to ensure that the company has a planned closure and does not
need to go into insolvency.
By c105ing in 2026 we are being fairer on our staff many of whom have been with us
for many years and ensures they receive a fair redundancy payment.
Residual Funds.. By closing in 2026 we will hopefully have some residual funds which
we need to give to a charity or number of charities with similar aims to ourselves.
The current membership will end in January 2026 and until that time we plan to run TG as
normal, provide support and National Events in 2025, including the AGM and Carol Service
The National Carol Service In December 2025.
Financial Revlew
The financial statements have been prepared in accordance with the accounting policies set
out in notes to the accounts and complywith the charity's governingdocument, the Charities
Act 2022 and 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.
The results for the year are set out in the Statement of Financial Activities and the notes to
the accounts,. the Balance Sheet sets out the financial position at the end of the year.
Investment pollcy ond perform¢7nce
Most of TG'S funds are placed with Investment Managers, Vestra Wealth LLP, in accordance
with the powers granted to the NEC by the Memorandum of Association. Vestra have been
instructed that our investments should form a balanced, medium/low risk portfolio, with an
emphasis on providing regular income and malntaining capital growth. However, last year
we had to withdraw £123,500 from the portfolio to fund our continuing activities.
Vestra Wealth LLP have been informed of our plans to close Townswomen's Guild and will
start to reduce the equity exposure on the portfolio and move the portfolio in cash when
instructed.
Golng Concern
A resolution to close the company and charity was agreed unanimouslyat a Trustee Meeting
held on Wednesday 23rd April 2025.

Reserves and resenies policy
All of TG'S funds are unrestricted, that means they can be used for any of the charitable
purposes. On 31st January 2025, total reserves amounted to £320,884. In setting its reserve
policy the NEC has regard its normal income pattern, which sees most being received at the
start of the year. The NEC believes that to meet its liabilities 35 they fall due, it should have
ready access to funds equal to one half of its estimated annual expenditure, this is
approximately £160,500. Excess funds are held as investment5.
Risk management
The NEC undertakes an annual review of the risks TG faces and puts in place appropriate
measures to mitigate or eliminate those risks which cannot be tolerated or are beyond our
control.
The key risks we face are
The continuing decline in membership
We have been unable to recrult enough Trustees to the National Executive
Increase In costs
The need to continue to fund our activities from our reserves.
Structurei governance, and management
TG is a limited company and reglstered charity and, as such, we are governed by our Articles
of Association. Our registration numbers appear on the cover of this document and details
of Trustees,. our Registered Office and our Advisers appear on page l.
Under company law, the Members of TG are the individual Guilds who are formed under the
umbrella of TG. Each Guild is autonomou5 but shares the National objectives. The members
of each Guild are affiliated to the National organisation through their Guild who pay a
capitation amount to the National Office. Associate membership is available to those who
wish to be part of the movement, Membership is open to all women over the age of 16.
TG is governed by the NEC which is responsible for setting the strategic direction of the
organisation, establishing policy, appraising staff, and agreeing remuneration, and budgeting
and monitoring finances. The day-to-day operation of TG is conducted by a paid staff, acting
in accordance with the established strategy and policy. The overall management of TG rests
with the Trustees who act on an entirely voluntary basis.
The NEC con51Sts of a maximum of between 12 and 14 Trustees, twelve of whom will be
elected (if more candidates are nominated than the number of vacancies); the remaining
two are available for existing Trustees to fill by co-option, All Trustees are members of a
Guild and will have served as a member of a Guild or Federation committee for at least five
years.
Where we have fewer that 10 Trustees the service qualifications set out above may be

replaced by enquiries of Members in the candidates Guild and/or Federations as to the
suitability of the applicant for appointment as a Trustee, Candidates, suitability as a Trustee
will focus on their willinBness, enthusiasm and integrity in their dealings both within TG and
without.
Each Trustee is allocated an area of the UK to cover and aims to support the Guilds and
Federations in that area through visits and letters.
Trustees also attend National events, such as the AGM and Carol Services, and attend regular
Zoom board meetings. The Trustees come from across the country. The Trustees always try
to do their best for members in their areas, but in normal circumstances need an invitation
to visit Guilds and Federations.
The NEC elects the Chair and one or two Vice-chairs by secret ballot, while it is preferable to
have two Vice Chairs this is not always possible due to the size of the Board, An Honorarv
Treasurer is a nominated position. Officers, who must have served as Trustees for a
minimum of two years, hold their roles for a period of one year and may then seek re-
election. The maximum period that the Chairman may serve in that office is three
consecutive years. Trustees normally serve for three years but may be re-elected or re-
appointed at the end of the term to a maximum of 9 years, service,
All Trustees receive an information pack on joining the board, and induction and training as
needed over the course of their Trusteeship.
To ensure that Trustees receive no private benefit from their role, they receive no
remuneration and have no financial interest in the Charity. They are reimbursed forexpenses
they incuronly in accordance with the Trustees, expenses policy. If a topic in which a Trustee
has a greater monetary interest than her colleagues is raised at a meeting, that Trustee must
declare her interests before the matter is discussed and may be asked to withdraw from
decision-making on that topic.

Statement of Trustee responsibilities
The Trustees (who are also Directors of Townswomen's Guilds for the purposes of Company
Lawl are responsible for preparing the Trustees, Report and the financial statement5 in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom
Generally Accepted Accounting Practice).
The law applicable to charities in England & Wale5 requires the Trustee5 to prepare financial
statements for each financial year which give a true and fair view of the state of the affairs
of the charity, and the income and expenditure of the charity for that period. In preparing
these financial statements, the Trustees are required to..
select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP,.
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,. and
prepare the financial statements on the going concern basis unless it is inappropriate
to presume that the charity will continue in business.
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 2022 and the provisions
of the Articles of Association, 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.
This report was approved and authorised for issue by the Board of Trustees at its meeting
on .I,kh.. .June 2025 and is signed on its behalf on
,by
Mrs Beryl Hales National Chair
10

INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF TOWNSWOMEN'S GUILDS
I report to the Trustees on my examination of the financial statements Townswomen's Guilds {the
incorporated charity) for the year ended 31 January 2025.
Responsibilities and bas15 of report
As the Trustees of the cha rity (and also its directors for the purposes of company law) you are responsible
for the preparation of the financial statements in accordance with the requirements of the Companies Act
2006 (the 2006 Act),
Having satisfied myself that the financia I statements of the charity are not required to be a udited under
Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my
examination of the charity's financial statements carried out under section 145 of the Charities Act
2022. In carrying out my examination I have followed all the applicable Directions given by the Charity
Commission under section 145{51{bl of the 2022 Act,
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in
connection with the examination giving me cause to believe that in any material respect..
accounting records were not kept in respect of the cha rity as required by section 386 of the 2006
Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the
2006 Act 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,. or
the financial statements have not been prepared in accordance with the methods and
principles of the Statement of Recommended Practice for accounting and reporting by charities
applicable to charities preparing their accounts in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland {FRS 1021.
I have no concerns and have come across no other matters In connection wlth the examination to
which attention should be drawn in this report in order to ena ble a proper understanding of the
Stephen Lewis (Chartered Accountant)
For and on behalf of
LMH Accountants Llmited T/a Trevor Jones & Co
Old Bank Chambers
Balance Sheet
ErdinEton
Birmingham B24 9ND
li

TOWNSWOMEN'S GUILDS
STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 January 2025
2025
Note
2024
Income from:
Donations and legacies
Charitable activities
4 Other trading activities
Investments
6 Other income
Total Income
188,263
13,256
1,606
4,991
494
208,610
188,124
15,134
2,005
8,345
7,986
221,594
Expendlture on:
Raising funds
8 Charitable activities
9,191
305,936
315,127
8,723
320,690
329,413
IS Net gain/lloss) on investments
20,891
{11,080}
Net expendlture
185,6261 (118,8991
Reconclllatlon of funds:
Total funds brought forward
406,511
525,410
Total funds carried forward
320,885
406,511
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 13-21 form part of these financial statements.
12

TOWNSWOMEN'S GUILDS
Balance Sheet 31 January 2025
Company number 5901323
Note
2025
2024
Fixed assets..
13 Intangible assets
14 Tangible assets
15 Investments
Totalfixed ¢7ssets
4,059
283,793
287,852
1,730
388,876
390,606
Current assets:
Stocks
16 Debtors
Cash at bank and in hand
Total current assets
Liablllties;
17 Creditors: Amounts falling due within one year
3,672
13,824
27,488
44,984
3,163
16,525
25,422
45,110
{11,8231
(28,472}
Net current {liabilities)/ assets
33,161
16,638
Total assets less current IiGbilities
321,013
407,244
18 Creditors: Amounts falling due after more than
one year
Total net assets
(128)
320,885
1733)
406,511
The funds of the charlty..
Unrestricted Funds
Revaluation Reserve
277,960
42,925
320,885
375,785
30,726
406,511
19
Total charltyfunds
For the year ending 31 January 2025 the Trustees confirm that the charitable company
was entitled to the exemption from audit granted under section 477 of the Companies
{al the members have not required the company to obtain an audit of its accounts for
year in question in accordance with section 476, and
(bl the Trustees acknowledge their responsibilities for complying with the requirements
of this Act with respect to accounting records and the preparation of accounts.
The financial statements have been prepared on the basis stated in note l.
The financial statements were approved in principle and authorised for issue by the
NEC and were signed on Il June 2025 on its behalf by,.
Mrs B Hales
National Chalr
Mrs M Brown
- Vice Chair trjl ortec-*Th
13

TOWNSWOMEN'S GUILDS
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 January 2025
I ACCOUNTING POLICIES
Statement of Compliance
The financial statements have been prepared in accordance with the accounting policies set
out in the notes to the accounts and comply with the charity's governing document, the
Companies Act 2006, the Charities Act 2022 and the SORP IFRS102) Accounting and Reporting
by Charities.. Statement of Recommended Practice applicable to charities preparing their
accounts in accordance with the Financial Reporting Standard 102 applicable in the UK and
Republic of Ireland (effective l January 20191.
The charity is a company limited by guarantee a nd is a public benefit entity as defined by FRS
102. Statutory information appears on page l. The financial statements are prepared in
sterling.
Golng Concern Status
The Trustees have prepared the financial statement5 on a basis other than that of a going
concern.
As disclosed in the trustees report, the Trustees have decided that the charity will cease its
operations for the year ending 31 January 2026. While the charity has sufficient funds to
continue for a period beyond this date, the decision has been made to formally wind down its
activities.
Fund accountlng
General funds are unrestricted funds which are available for use at the discretion of the NEC in
furtherance of the general objective5 of the charity and which have not been designated for
other purposes.
Income
All income is recognised in the Statement of Financial Activities when the conditions for
receipt have been complied with and there Is reasonable assurance of receipt. The following
accounting policies are applied to income.,
Affiliation fees: Affiliation fees are accounted for when received
Legacies are accounted for when legal entitlement has been established and the amount
receivable is reasonably certain.
Investment income,. Investment income is accounted for when receivable
Other income: Other income is accounted for when receivable
Expendlture
Expenditure is included on an accruals basis and is recognised when there is a legal or
constructive obligation.
Costs of raising funds are those costs incurred in attracting income, and those incurred in
profile raising activities that raise funds
Charitable activities include expenditure associated with staging meetings a nd other
natlonal events, and the publication of Townswoman Magazine. They include both the
dlrect and support costs relating to these activities.
Support costs include central functions and have been allocated to activity cost
categories on a basis consistent with the time spent directly on each area.
Intanglble fixed assets
Townswomen's Guilds acquired software from which the Trustees believe long term cost
savings could be derived. Accordingly the asset wa5 capitali5ed a nd has been amortised over
its estimated minimum useful life of 5 years. It is also Subject to a nn ual impairment review.
14

TOWNSWOMEN'S GUILDS
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 January 2025
(continued)
I ACCOUNTING POLICIES {Contlnued)
Tanglble fixed assets
All fixed assets Costing more than £250 are capitalised, and are subject to annual
impairment reviews
Tangible fixed assets are stated at cost less depreciation which is provided in equal
annual instalments over the estimated useful lives of the assets.
The rate of depreciation applied is..
Office furniture and equipment- 20%- 25/
Equipment held under finance leases is depreciated over the life of the lease.
Investments
Investments, which are all considered as financial instruments, are stated at bid value.
This constitutes fair value for the purposes of Financial Reporting Standards. Any gain or
loss on revaluation is taken to the Statement of Financial Activities.
Stocks
Stocks, which mainly represent Townswomen's Guilds branded goods for sale to members,
are valued at the lower of cost and estimated realisable value.
Pension Costs
The charity operates a defined contribution scheme which is funded by contributions from
the charity, Payments are made to an insurance company which is financially separate from
the charity. The payments are charged to the Statement of Financial Activities in the year in
which they become payable,
Leased assets and obligations
Where assets are financed by leasing agreements that give rights approximating to
ownership I'finance leases I the assets are treated as if they had been purchased outright.
The amount capitalised is the present value of the minimum lease payments payable during
the lease term.
Lease payments are treated as consisting of capital and interest elements, and the interest
is charged to the Statement of Financial Activities in proportion to the remaining balance
outstanding.
All other leases are 'operating leases" and the annual rentals are charged on a straight line
basis over the lease term. Rent free periods achieved when entering into an operating lease
are accounted for over the period of the lease so as to spread the cost evenly over the lease
term.
Financial Instruments
Townswomen's Guilds values its financial assets and liabilities in accordance with the
provisions of FRS102 as basic financial instruments. This means that trade debtors and
creditors are recognised when there is a contractual entitlement to make payment or
receive funds and are valued at the amount expected to be received or paid.
15

TOWNSWOMEN'S GUILDS
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 January 2025
(continued)
DONATIONS
2025
2024
Aff iliation fees
General donations
Operation Townswomen donations
Legacies
179,630
212
7,421
1,000
188,263
184,011
1,071
3,042
188,124
INCOME FROM CHARITABLE ACTIVITIES
2025
2024
Events
Townswoman Magazine
6,756
6,500
13,256
8,634
6,500
15,134
4 OTHER TRADING ACTIVITIES
2025
2024
Internet advertising receipts
Sale of TG branded goods
61
1,545
1,606
2,005
2,005
5 INVESTMENT INCOME
2025
2024
Income from UK listed investments
Income from overseas listed investments
Bank interest
1,292
1,730
1,969
4,991
3,646
3,088
1,611
8,345
6 OTHER INCOME
2025
2024
Closed guilds and development funds
494
7,986
16

TOWNSWOMEN'S GUILDS
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 January 2025
(continued)
7 RAISING FUNDS
2025
2024
Cost of goods sold
Investment management fees
Other direct costs (including d irect staff costs)
Share of support costs
{note 9)
Share of governance costs
(note 10)
2,324
2,187
2,648
1,755
277
9,191
3,000
1,066
2,724
1,630
303
8,723
8 CHARITABLE ACTIVITIES
Direct
Costs
Support Governance
Costs
Costs
Total
2025
2025
Events
Campaigns
Townswoman Magazine &
Newsletter
Raising awareness & Guild
development
Membership management &
support
2025 Total
21,907
17,085
6,783
11,953
1,069
1,883
29,759
30,921
80,926
11,147
1,757
93,830
51,728
29,551
4,658
85,937
40,642
212,288
21,464
80,898
3,383
12,750
65,489
305,936
note 9
note 10
Dlrect
Costs
Support Governance
Costs
Costs
Total
2024
2024
Events
Campaigns
Townswoman Magazine &
Newsletter
Raising awareness & Guild
development
Membership management &
support
2024 Total
24,994
17,490
6,301
11,104
1,172
2,065
32,467
30,659
82,035
10,355
1,925
94,315
63,748
27,539
5,120
96,407
43,196
231,463
19,939
75,238
3,707
13,989
66,842
320,690
Basis of apportioning costs..
Wherever possible costs, including staff costs are apportioned directly to a relevant
expense heading, Common costs, such as office running costs and the costs of staff
involved in managing and administering the organisation are apportioned between
headings on the basis of the direct staff time allocated to each area.
17

TOWNSWOMEN'S GUILDS
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 January 2025
(continued)
9 SUPPORT COSTS
2025
2024
Premises expenses
General office costs
Staff costs
Redundancy costs
35,635
31,924
15,094
26,175
34,806
15,887
82,653
Allocated to..
Raising Funds
Charitable activities
76,868
1,755
80,898
82,653
1,630
75,238
76,868
10 GOVERNANCE COSTS
2025
2024
Independent examination fees
Legal and professional
Trustees, expenses & meeting costs
1,500
8,290
3,237
13,027
1,313
7,374
5,605
14,292
Allocated to.,
Raising Funds
Charitable activities
277
12,750
13,027
303
13,989
14,292
5 11 NET EXPENDITURE
2025
2024
Independent examination fees
Depreciation of ta ngi ble fixed assets
Owned assets
Leased assets
Amortisation of intangible assets
Operating lease rentals
Property
1,500
1,313
534
636
180
636
2,940
25,457
24,962
18

TOWNSWOMEN'S GUILDS
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 January 2025
(continued)
12 INFORMATION REGARDING EMPLOYEES AND TRUSTEES
2025
2024
Salaries
Social security costs
Pension costs
118,085
5,019
11,830
134,934
120,978
5,419
12,098
138,495
The management of TG is undertaken by the Trustees with support from key
Included in total staff costs are the following:
2025
2024
Redundancy
2025
Number
2024
Number
Average number of employees calculated on a full-time
equivalent basis
Employed partly on direct cha ritable activities and pa rtly
There is no material difference between the full-time equivalent number of employees
and the average monthly number of employees.
None of the NEC, or persons related or connected by business to them, received any
remuneration during the year (2024: Nil).
During the year the total expenses reimbursed to 6 {2024.. 8) members of the NEC
amounted to £3,260 {2024.. £5,213J. This princippally represents travelling and
subsistence expenses incurred in the management of the charity's affairs.
The charity has arranged insurance to protect the charity from Ioss arising from neglect of
default of its trustees, employees or agents and to indemnify the trustees from the
consequence of any neglect or default on their part. The insurance also covers the
trustees and officers of individual guilds and federations.
The NEC is not aware of any material transaction, contract or other arrangement with any
connected person.
19

TOWNSWOMEN'S GUILDS
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 January 2025
(continued)
13 INTANGIBLE FIXED ASSETS
Database
Cost
At 31 January 2024 and 31 January 2025
25,200
Depreciation
At 31 January 2024
Charged in the year
At 31 January 2025
25,200
25,200
Net book value
At 31 January 2025
At 31 January 2024
14 TANGIBLE FIXED ASSETS - HELD FOR CHARITY USE
Offlce furnlture
and equlpment
Cost
At l February 2024
Additions in the year
Disposals
31 January 2025
24,073
3,500
27,573
Accumulated depreciation
At l February 2024
Charged in the year
Disposals
At 31 January 2025
22,343
1,171
23,514
Net Book Value
At 31 January 2025
4,059
At 31 January 2024
1,730
The above balance includes assets with a book value of £735 {2024.. £1,371) which
are held under finance lease.
There were no capital commitments at 31 January 2025 {2024.. £Nil),
20

TOWNSWOMEN'S GUILDS
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 January 2025
(contlnued)
15 INVESTMENTS
2025
2024
Market value l February 2024
Additions at cost
Disposals at market value
ILossesl/Gains in market value
Market value 31 January 2025
348,837
454,273
364,697
{109,3571 {459,0531
20,891
{11,0801
260,371
348.837
Market Value
2024
Cost
2025
2025
2024
UK listed investments
Overseas listed investments
162,345
98,026
252,056
96,781
152,260
65,186
247,238
70,873
Total investments
Cash held by investment managers
260,371
23,422
283,793
348,837
40,039
388,876
217,446
23,422
240,868
318,111
40,039
358,150
Investments are valued at bld price.
16 DEBTORS
2025
2024
Prepayments and accrued income
Other debtors
13,507
317
13,824
15,688
837
16,525
All amounts fall due within one year.
17a CREDITORS: Amounts falling due wlthin one year
2025
2024
Trade creditors
Other taxes and social security
Accruals
Other creditors
Deferred income (see 17bl
Obligations under fina nce leases
4,448
2,341
4,408
20
8,560
2,486
14,123
20
2,682
601
28,472
606
11,823
Obligations under fina nce leases are secured on the relevant fixed assets (note 141,
17b DEFERRED INCOME
2025
2024
Deferred income brought forward
Released in year
Deferred in year
Deferred income carried forward
2,682
12,682)
4,303
14,3031
2,682
2,682
21

TOWNSWOMEN'S GUILDS
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 January 2025
Icontlnued)
18 CREDITORS: Amounts falling due after more than one year
2025
2024
Obligations under finance leases
128
733
Total amounts payable under finance leases
128
733
19 FUNDS
All funds are unrestlcted and comprise..
Brought
Incomlng Resources
forward Resources
Expended
Investment
{Losse5}1
Galn5
Transfer
Between
Funds
Carrled
Forward
2025
Revaluation Reserve
30,726
118
13291
12,410
42,925
Designated Fund
Operation Townswomen
3,042
7,421
110,4631
General Fund
372,743
201,071
1314,7981
8,481
10,463
277,960
406,511
208,610
315,127
20,891
320,885
Brought
Incomln8 Resoutces
forward Resources
Expended
Investment
{Losses11
Galns
Transfer
Between
Funds
Carrled
Forward
2024
Revaluation Reserve
26,620
4,106
30,726
Designated Fund
Operotion Townswomen
3,042
3,042
General Fund
498,790
218,552
1329,4131
115, 1861
372,743
525,410
221,594
329,413
111,0801
406,511
The Operation Townswomen designated fund relates to money received in response to an appeal launched
at the AGM 2023. To help ensure that TG continues to operate to our Iooth anniversary in 2029 and
beyond. Due to reduction in funds it will not be feasible to achieve this target,. it was decided that the TG
will close 31st January 2026. It has been decided to transfer the designated funds to general funds.
22