a) Guild£ord &4 Institute Annual Report andAeeounts 2023
Contents
Trustees Report
| Trustees Report | |
|---|---|
| Chairperson’s Introduction | 1 |
| Our Year at a Glance | 2-3 |
| Who we are | 4 |
| What we do | 4 |
| Where we are | 4 |
| Our values | 4 |
| Our key achievements this year | 5-9 |
| Important developments since July 2023 | 10 |
| Our people | 11 - 15 |
| Structure, Governance and Management | 16 |
| Financial Review | 17 |
| Reference and Administrative Information | 18 |
| Financial Summary | |
| Independent Examiner’s Report | 19 |
| Statement of Financial Activities | 20 |
| Balance Sheet | 21 - 22 |
| Notes to the Financial Statements | 23 - 31 |
| Detailed Statement of Financial Activities | 32 - 33 |
Chairpersons’ Introduction
The Guildford Institute Annual Report
The Board of Trustees are delighted to present the Annual Report of a charity committed to enriching the lives of individuals and the community as a whole.
This report serves as an overview of our principal activities and community initiatives along with a summary of achievements and developments for the year under review, August 2022 - July 2023. Since this period ended some while ago, we will, as usual, provide updates later in proceedings.
Our main aim during this period has been to address financing concerns and secure long term sustainability for The Guildford Institute - and we feel we have made considerable progress.
Confronted with a significant annual shortfall, the need to explore new directions and look at innovative solutions, in March we engaged the services of fundraising professionals. With their help we are developing a new business model that positions us as a grant-led charity with a clearer roadmap for the future, and to shout louder about our current charitable activities. We have been told in no uncertain terms that we must shout louder about our achievements.
Our commitment to doing what we do well, both within our termly programme and our community initiatives remains unwavering. In order to maximise the use of our building we continue to find ways to utilise it more during evenings and weekends. This endeavour has not only increased our visibility but also allowed us to engage with a wider audience.
While exploring these new directions and embracing innovative fundraising strategies, we aim to not only bridge the financial gap but also expand our impact and reach within the community.
BRIAN CREESE
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The Guildford Institute Annual Report & Accounts 2023
Our year at a glance
Provided over courses 200 with hours of teaching 1,200 for students 2279
Delivered hours of 50 Ran special events 10 Wednesday afternoon talks including a Community for attendees & 900 150 Street Party online via Zoom
Organised visits to 10 events, stately homes and other places of interest
Ran our first free to enter/attend Open Mic Night
Provided free access to the Library and Archives with free research
Delivered over hours of 200 Tai Chi - promoting good health, balance and wellbeing
Ran Turkish cooking workshops on Zoom
Ran Family History workshops , both in person and via Zoom
Ran practical Craft courses
Introduced Fashion History and Garden History to the course programme
Offered free spaces on talks via social prescribers
Supported our charitable mission with memberships 500
Engaged volunteers - 20 2,000[hours of support]
Provided work for 3 interns
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The Guildford Institute Annual Report & Accounts 2023
Our year at a glance
Facilitated charity/ 545 Facilitated 122 community group meetings NHS meetings
Hosted over 250 hours of Chess
Hosted conversation groups for German, Italian and French
Introduced groups to combat loneliness
Joined a Community Food Bank programme
Facilitated over 3,500 hours of counselling
Joined the Safe Places National Network
Published 300[social media] Carried out a
posts and sent 21 newsletters Stakeholder Survey
Hosted weekly/monthly Guildford community clubs and societies
Venue for free Young Musicians’ Recitals
Received Dementia Friendly staff training
Partnered with Guildford Arts offering free exhibitions promoting local artists
Worked to green our footprint
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The Guildford Institute Annual Report & Accounts 2023
Who we are
The Guildford Institute is a local registered charity and limited company, providing cultural education to people in Guildford and beyond in an accessible and friendly environment.
We are open to all and serve a diverse audience from across the local community, including older people, professionals, young people and children.
We are governed by a board of trustees and operate with a small professional staff team, supported by volunteers and interns.
What we do
We deliver a flexible, high quality and diverse range of activities and provide space to support a variety of local groups and charities.
Our principal business is the provision of education and cultural events to the adult community through courses, events, visits, talks and access to our historic library and archive.
We are also home to a group of talking therapists - counsellors, psychologists, psychotherapists and family mediators.
We run an accessible community café, which is open to all, providing quality, healthy and nourishing food and refreshments in a comfortable and welcoming space.
In order to subsidise our charitable activities we also lease out parts of Grade II listed building.
Where we are
We are based in Ward Street, in the heart of Guildford, where we have been educating, inspiring, and uniting people across the local area for over 130 years.
Guildford Institute is a wonderful resource and our town is very lucky to have it!
Our values
Our values are simple, we
are inclusive
deliver quality in all we do
value participation
are committed to a culture of team work and collaboration
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The Guildford Institute Annual Report & Accounts 2023
Our key achievements this year
We provided almost 1,200 hours of teaching, including over 200 courses
In Autumn 2022 we offered 73 Courses for 812 students - our focus was Festivals around the World and included The Art of Celebration (Art History), The Festival of Colour (Drawing & Painting), Festivals of Remembrance (History) and Seasons of Mist and Mellow Fruitfulness (Literature & Poetry).
In Spring 2023 we offered 72 courses for 820 students – our focus was Journeys and Discoveries and included Women as Pioneers of Modernism (Art History), Django and Grappelli – Gypsy Jazz (Music), Poems on the Underground (Literature and Poetry) and Gardens of Sintra – The Mountain of the Moon (Garden History).
In Summer 2023 we offered 64 courses for 700 students – our focus was Wonderland and included Paper Wonderlands: The History of Illustrated Children’s Books (Art History), Gertrude Jekyll – Philosophy, Art & Legacy (History), Literary Nonsense (Literature and Poetry) and Wines of Sicily (Food and Wine).
This year we organised 10 Special Events including a Community Street Party to celebrate the coronation of The King on 2nd April.
August 2022 – July 2023 we hosted 50 hours of Wednesday afternoon Window on the World Talks for over 1,000 attendees.
This year we provided over 150 hours of Yang Style Tai Chi and Qigong. Health & Wellbeing are a regular part of our offer (these disciplines are particularly beneficial for older people with GPs referring patients to our sessions).
We provided space for Guildford’s clubs and societies to meet each week/ month
These included Guildford Chess Club, Guildford Speakers Club, Guildford Boardgamers, The Music Institute Folk Club, Guildford Mahjong Club, Guildford Institute Book Club, Italian Conversation Group, German Conversation Group, French Conversation Group.
Tuesday night games is super fun - would recommend for anyone who wants new friends or to do something new.
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The Guildford Institute Annual Report & Accounts 2023
Our key achievements this year
127 years of chess - Focus on Guildford Chess Club
We are home to Guildford Chess Club, founded at a meeting on 10 April 1896 at The Guildford Institute, as the ‘Guildford and Working Men’s Institute (GWMI) Chess Club.’
The first set of minutes state ‘That a Club should be formed amongst the members of the Institute for the purpose of promoting and teaching the game of Chess’. 127 years later the club continues to foster the playing of chess in Guildford and its environs.
We organised 10 visits to events, stately homes and other places of interest
This year we organised visits to a variety of locations and events including a visit to Fulham Palace and a Glow event at Waddesdon Manor – these visits are popular with older customers who do not drive or no longer wish to, and with those who are single but who enjoy the company of others when visiting places of interest.
We provided facilities for over 800 meetings by local groups
This year we had over 800 Room Bookings with almost 70% (545) to charities and community groups, 122 to NHS providers and 147 to standard users for private events.
Our spaces are also used for other activities such as Music Recitals given by young musicians from the area – this year we hosted five recitals in our Assembly Room.
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The Guildford Institute Annual Report & Accounts 2023
Our key achievements this year
We offered free access to our historic library and local archive
Our Library opened in 1892 as Guildford’s first public library. Now run by a dedicated team of volunteers, we aim to share Guildford’s heritage and story through our remarkable Library which is also home to our impressive Archive collection. Our Library is open to everyone – a welcoming space to browse, read and research.
The Archive is a treasure trove for Guildford’s history, consisting of original photographs, playbills and more! If you have any research questions, please ask one of our friendly volunteers. Our Library is also home to Guildford Book Club and Guildford Writers who meet here monthly.
The Guildford Institute’s Library - By David Rose (excerpt)
The Library at the Guildford Institute is, for me, a local historian, a unique and invaluable source. Its archive material in particular is most useful. This includes the numerous scrapbooks of period local newspaper cuttings, photographs and other illustrations.
For my own research, the scrapbook of material relating to Guildford during the First World War provided me with a considerable amount of facts and stories, much of which enabled me to write my book Great War Britain Guildford Remembering 1914-18, published in 2014 by The History Press, and in association with The Guildford Institute.
The Library’s archive collection of photographs of once prominent and important people from Guildford must be unique in itself. It’s one thing to find written details about the great and the good from my home town, but to see photographic images of these people from the late 19th and the early 20th century is truly wonderful.
The photograph collection also includes many high quality vintage views of Guildford town centre. It includes, what I believe is also unique, a set of photographs of Guildford High Street’s shop fronts all taken in 1922. There are also period photographs of Guildford churches and other prominent buildings, plus events of note.
The so-called ‘Golden Age’ of the picture postcard began in the early 1900s and lasted to about the time of the First World War. The then Institute librarian, Frederick Elsley, must have realised then (as historians and collectors such as myself know today) what a fantastic resource it would be to build a collection of such cards.
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The Guildford Institute Annual Report & Accounts 2023
Our key achievements this year
We provided 4,613 hot lunches at our commmunity vegetarian café
Our Café provides a space for people to meet and enjoy healthy, home-cooked, freshly made lunches. This year our Café was part of a University of Surrey/UKRI Healthy Ageing Challenge research project – resulting in the development of a Toolkit for Age-inclusive Hospitality Venues.
We ran groups to combat loneliness
We joined The Chatty Café Scheme – this is the UK’s leading non-profit organisation tackling loneliness.
We set up a Stitch and Sip Group – an opportunity for individuals to meet up and enjoy creative activities with like-minded individuals.
We provided numerous volunteering opportunities for local people
See further details in ‘Our People’.
We offer membership to our charity
Membership fees provide us with an essential income stream and allows us to provide subsidised facilities for charities and other not-for-profit organisations. Our current membership is 500.
We offered a place of safety to local people as part of the Safe Places National Network
Our Safe Place offers help if someone is anxious, scared or at risk while they are out and about and need support.
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The Guildford Institute Annual Report & Accounts 2023
Our key achievements this year
We worked and partnered with local charities and organisations
We partnered with many local charities and not-for-profit groups, such as the ‘Crafty Creations’ group for Halow Project, who provide support people aged 16+ with learning disabilities and/or on the autism spectrum on their journey into and through adult life.
We sponsored a prize at Guildford Art Society’s summer exhibition.
We provided exhibition space to Guildford Arts and 18 local artists
We were a venue for Guildford Shakespeare Company’s Sonnet Walk Weekend
Guildford Arts / Guildford Institute Partnership
Guildford Arts is a charity dedicated to promoting the Arts in and around Guildford. An important part of their activities has been staging exhibitions in the town. Guildford Arts find local artists for a coordinated series of exhibitions through the year. The art is exhibited in the Assembly Room at the Guildford Institute and is viewed daily by members of the public in a town with limited comparable exhibition space - the Guildford Institute has helped to keep this vital links with the Arts alive.
We provided a home to a group of counsellors, psychologists, therapists and mediators
We have six Talking Therapy consulting rooms from which 25 counsellors and therapists operate - this year they have provided over 3,500 hours of counselling.
Focus on Nathalie Skelton, Counsellor & Psychotherapist
I have been working as a counsellor/psychotherapist at The Guildford Institute for two years. It has been wonderful to be in such a warm and welcoming setting, especially when working with a client group that might feel nervous about coming in the first place. I have also noted how often my clients have found additional benefits through discovering what the Institute has to offer them beyond counselling. I feel very lucky to have set up my practice here.
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The Guildford Institute Annual Report & Accounts 2023
Important Developments since July 2023
We are planning some big changes - to our business plan, our offer, our building and our financial arrangements. These are designed to realign GI with the current environment in which we operate, and, by expanding and improving the range of services offered at our Ward Street premises, to secure the long-term future of this precious Guildford asset.
Our 1891 1892 1964 history The Mechanics Created teaching rooms Let the ground floor and basement of Institute purchased a and a home for a library - the Institute to Williams & Glyn’s Bank failing Temperance this became The and subsequently The Royal Bank of Hotel Guildford Institute Scotland (RBS), to provide us with income to subsidise our core purpose - to offer educational activities - in an economically viable way
Present March 2022 March 2023 day RBS closed their doors Agreed heads of for the final time term with a new dental practice to lease the ground floor space
November 2023
The dental practice walked away from the agreement, leaving us back where we started with little prospect of securing a new tenant in the immediate future.
Future The Guildford Institute Community Plans Hub & Talking Therapy Centre
We’d like to reclaim the ground floor space to house many of the counsellors currently occupying spaces on the second floor of the building. This will include a talking therapy centre, providing specially designed, sound proofed spaces. A new meeting room will be available to charities and NHS providers. We’re also in discussion with a local arts-based organisation who are keen to rent the second floor of the building.
Fundraising campaign
In order to achieve our vision, we’ll be embarking on a major fundraising campaign to gain vital funding for the building development
This proposal will enable us to grow as an organisation by significantly developing our community offering and with the greater visibility provided by having a prominent North Street entrance.
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The Guildford Institute Annual Report & Accounts 2023
Our People
August 2022 - July 2023
We are governed by a board of trustees and operate with a small professional staff team along with volunteers and interns.
Trustees
Brian Creese, Chair Background in: Education, TV/Video Elected 2019
Mike Kirby, Treasurer Background in: Accountancy Elected 2020
Janet Crowe Background in: The criminal justice system Elected 2018
Sophie Chapman Background in: Transport leadership Elected 2017
David Cheeseman Background in: Transport and higher education Elected 2019
Phil Davies Background in: Public and charity sector leadership Elected 2022
Lisa Taylor Background in: Large-scale public event management Elected 2018
Rachel Pirovano Tom Heasman Background in: Background in: Fundraising Strategic change, sector economics, computer science Elected 2022 Elected 2021
Focus on Phil Davies, Trustee
Phil joined the Trustee Board in late 2021 when he retired from the local charity, Citizens Advice Waverley, where he was Chief Executive. He has a passion for the charity sector and a strong belief in widely promoting its work and social value. Since joining the board he has enjoyed many cultural opportunities that the Guildford Institute has to offer, including borrowing a particularly difficult to find book from the library and participating in its inaugural Open Mic night.
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The Guildford Institute Annual Report & Accounts 2023
Our People
Staff team
----- Start of picture text -----
Amy Mason Mark Finn
Amy Rice Chelsea Eves
Events Evening
Manager Programme
Assistant Steward
Manager
Emma Vicky Pursey Steve Stone
Lisa Taylor
Wilkinson Finance & Caretaker
Manager
Marketing & Projects
(maternity
Comms Assistant
cover)
Officer
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Focus on Mark Finn, Evening Steward
Mark has worked for The Guildford Institute for over 34 years, is the longest serving member of the team and is our weekend and evening Steward. Mark has an amazing memory and can remember every twist and turn in the Institute’s more recent history. Mark enjoys working with the various clubs and societies that meet at the GI each week and his own son has recently joined the Junior Chess Club.
Office Interns
Rebecca Hodges , Programme Intern
Ian Chan , Comms & Engagement Intern Bipina Gharti , Marketing Intern
All the GI staff members are very warm and welcoming and it is clear that the organisation is highly valued by the locals. For anyone looking to volunteer in a relaxed and creative environment, I highly recommend volunteering at The Guildford Institute. Bipina Gharti
GI Stakeholder Survey 2023
100% of respondents described the GI staff and volunteers as extremely friendly or very friendly.
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The Guildford Institute Annual Report & Accounts 2023
Our People
Focus on Rebecca Hodges, Programme Intern
I have been Programme Intern at the GI since 2021. During my time at the GI I have learnt a variety of new skills and gained confidence in my work. I’ve been given the opportunity to undertake additional training and certification in GDPR, a time management session and learnt how to use software such as WordPress, Canva and Photoshop. I feel like a valued member of the team and have really enjoyed contributing to the production of each term’s programme.
This year, internships at The Guildford Institute have helped both Rebecca and Bipina to secure full time work in their chosen careers.
Library Volunteers
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Pam Keen
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Tom Crawshaw
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Viv Crawshaw Maureen Wright Philip Wilkinson Rob Durham Carolyn Hollis Sandra Cumming
I volunteer in The Guildford Institute Library for a number of reasons, primarily because it is an important asset to the local community with a long and rich history.
This library differs in that it serves the local community, providing a wealth of information on Guildford and the surrounding areas. It is admired for its historic appearance, peaceful atmosphere, and committed volunteers, who also continue to broaden their own knowledge.
To come to GI weekly, work with excellent colleagues, on interesting material is a privilege.
The fact it (The Library) has been serving Guildford for over 120 years in the same room gives it a wonderful sense of history.
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The Guildford Institute Annual Report & Accounts 2023
Our People
Tutors
We deliver our programme of courses and talks with the support of a dedicated tutor group, who produce activities, ranging from Art History, Creative Writing, and languages, through to Science, Turkish Cookery and Tai Chi. They provide activities in a range of delivery styles, including online and hybrid formats. Their passion and dedication to their students and to the Institute is inspiring
GI Stakeholder Survey 2023
100% of respondents rated the quality of course tutors as very professional and extremely professional.
Focus on Devdan Sen MA
Having practiced Taichi and Qigong (pronounced ‘Chigong’) for several years and with experience as an instructor, I offered my services to The Guildford Institute. Over a few years, including the difficult Covid period, a core of students at the Institute have remained totally dedicated and gone on to learn the entire form. Others are on their way while the beginner sessions are always lively and promising. Complementing the Taichi, Qigong with its focus on health, inner energy, harmony and well-being, has had a small but dedicated following; the sessions also benefit those in the process of recovery.
I am immensely proud of my students with the knowledge that the practice of Taichi and Qigong will live with them for years to come. None of this could happen without the incredible team at the Institute who have enthusiastically supported the programme and have stood by me throughout.
This wonderful and inspiring Institute is made possible by an enthusiastic and welcoming team, with whom I feel we are able to make a small but significant difference to the community, by promoting and providing a plethora of lifelong learning courses, in an intellectually stimulating, accessible and entertaining way. Darren Harper, Philosophy Tutor.
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The Guildford Institute Annual Report & Accounts 2023
Our People
Our Customers
The people who use the services that we provide are from right across the local community – people who want to learn, be entertained, socialise, or who need support – are why we do what we do. Whether attending an art history lecture, a counselling appointment or Tai Chi class, joining a Chatty Café session, playing chess, or having lunch in our café, we value each and every one that comes in to our building. We provide a warm welcome, a helping hand if needed, a promise to foster personal growth for each individual, and facilitate meaningful connections within our diverse community.
GI Stakeholder Survey 2023
Over 1/3 of survey participants said they have increased their social network by attending The Guildford Institute.
V Café
The Guildford Institute’s V Café is operated by Nick Humble, our community café serving freshly made vegetarian and vegan lunches.
Excellent vegetarian/vegan café in central Guildford. A really unique place to enjoy lunch, lots of choice and Nick and Ian are great hosts. The Guildford Institute and V Café are true gems that everyone should try, if you come once you‘re sure to come back!
When telling people where I work and explain what The Guildford Institute do, I often get responses of “Wow we could really do with something like that where I live“.
Thanks to all of our supporters
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The Guildford Institute Annual Report & Accounts 2023
Structure, Management and Governance
Our Organisation
The Guildford Institute is a registered charity and company limited by guarantee. Our work is delivered by a small team of paid staff, supported by volunteers and overseen by a trustee board.
Our Governance and Management
Our trustee board sets out our vision and strategic direction. It delegates some of its responsibilities to sub-committees, each with its own terms of reference and membership. Each subcommittee includes at least one trustee who reports to the full board. Our Institute Manager, working with our management team, is responsible for delivering the board’s vision and for day-to-day operation.
Election and Training of Trustees
We recruit trustees through an open and competitive process, using local and national media to find people with suitable skills and experience to provide good leadership and make sound decisions. Trustees are formally elected by board members at their Annual General Meeting (AGM) and given such training as is necessary upon appointment. The trustees appoint the Chairperson and Vice Chairperson from among their number.
Trustee Meetings
Our trustees usually meet every six weeks, with the Institute Manager and Programme Manager in attendance. Trustees are asked at the start of each meeting to declare any relevant interests.
Strategic Planning and Delivery
Strategic planning and strategic decision making is the responsibility of the board of trustees. A formally agreed and regularly reviewed strategic plan informs and guides the work of the trustees, the manager and the professional team. Operational planning, management and management decision making is the responsibility of the manager. However, as the Institute is a small organisation, these demarcations are somewhat fluid. The manager is responsible for budgeting and general finances with the support of the trustees and the designated treasurer.
Risk and internal controls
The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019).
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The Guildford Institute Annual Report & Accounts 2023
Financial Review
This was a challenging year for the Institute, being the first year in our history with no tenant on the ground floor, RBS having vacated in June 2022.
Total income this year was £430,190, an increase of £145,879 or 51% year on year. However, this included a one-off receipt of £165,242 from the departing ground floor tenant. Stripping that out, revenue was £264,948 or 7% lower than the previous year, which was a creditable performance considering the loss of ongoing revenue from the ground floor was in total over £90,000. With sterling efforts from our professional team, revenues continued to show a strong recovery from the pandemic in all areas, particularly course revenues, other activities and room hire.
Total expenditure in the year was up by 57% or £173,814 to £479,637, an increase which largely reflects the £123,739 expenditure the Institute has incurred in rectifying work following the departure of the ground floor tenant. Other areas showing significant increases were staff costs, fundraising consultancy and legal and other costs relating to efforts to relet the ground floor, including the failure of the proposed new tenants to conclude a lease, despite signing Heads of Terms in March 2023.
The net result of the above was that the Institute ended the financial year with a loss of £49,447 compared to a loss of £21,512 the previous year.
The Institute’s Unrestricted Funds reduced by £47,291 to £499,196. These funds include £440,000 of Designated Funds, as detailed in note 16.
The balance on the Institute’s Restricted Funds decreased by £2,156 to £470,822, leaving total funds at £970,018, a decrease of £49,447 for the year.
Reserves Policy
The Charity Commission expects trustees to decide, publish, implement and monitor a charity’s reserves policy. The board of trustees has determined that the Institute should be keeping £440,000 as Designated Funds, a subset of total Unrestricted Funds, as detailed in note 16.
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The Guildford Institute Annual Report & Accounts 2023
Reference and Administrative Information
Legal and administrative details
Registered Company Number 6571640 (England and Wales) Registered Office Guildford Institute Ward Street Guildford GU1 4LH Registered Charity Number 1125031
Bankers
CAF Bank, 25, Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4JQ
Solicitors
Moore Barlow, Gateway House, Tollgate, Chandler’s Ford, Eastleigh, SO53 3TG
Trustees
L K Taylor (resigned 16.4.23) S Chapman M F Kirby D S Cheeseman J Crowe B Creese T E Heasman P L G Davies R Pirovano (appointed 20.9.22)
Independent Examiner
A J Bennewith FCA, FCPA, FFA, FFTA, FIPA, DChA, FRSA 3 Wey Court Mary Road Guildford Surrey GU1 4QU
Approved by order of the board of trustees on .............02.02.2024............. and signed on its behalf by:
..........................................................................
B Creese - Trustee and Chairperson
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The Guildford Institute Annual Report & Accounts 2023
Independent Examiner's Report to the Trustees of The Guildford Institute
Independent examiner's report to the trustees of The Guildford Institute ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can 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 matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts 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
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the accounts 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 102)).
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.
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Statement of Financial Activities for the Year Ended 31 July 2023
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Institute Activities Courses Other trading activities 2 Investment income 3 Other income 4 Total EXPENDITURE ON Charitable activities Library Institute Activities Bar Courses General Activities Premises Other 5 Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted funds £ 41,450 17,577 90,872 101,094 2,399 175,242 428,634 1,941 10,469 4,809 33,190 262,283 39,494 123,739 475,925 (47,291) 546,487 499,196 |
Restricted fund £ 248 - - - - 1,308 1,556 768 - - - 2,944 - - 3,712 (2,156) 472,978 470,822 |
31.7.23 Total funds £ 41,698 17,577 90,872 101,094 2,399 176,550 430,190 2,709 10,469 4,809 33,190 265,227 39,494 123,739 479,637 (49,447) 1,019,465 970,018 |
31.7.22 Total funds £ 8,198 9,526 86,522 162,425 885 16,755 284,311 3,668 4,750 3,790 34,450 215,784 43,381 - 305,823 (21,512) 1,040,977 1,019,465 |
|---|---|---|---|---|
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The notes form part of these financial statements
Balance Sheet 31 July 2023
| Notes FIXED ASSETS Tangible assets 10 CURRENT ASSETS Stocks 11 Debtors 12 Cash at bank CREDITORS Amounts falling due within one year 13 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 14 NET ASSETS FUNDS 16 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted funds £ 251,978 2,381 22,686 317,087 342,154 (83,009) 259,145 511,123 (11,927) 499,196 |
Restricted fund £ 451,713 - 38 19,071 19,109 - 19,109 470,822 - 470,822 |
31.7.23 Total funds £ 703,691 2,381 22,724 336,158 361,263 (83,009) 278,254 981,945 (11,927) 970,018 499,196 470,822 970,018 |
31.7.22 Total funds £ 702,436 1,909 25,802 386,620 414,331 (94,396) 319,935 1,022,371 (2,906) 1,019,465 546,487 472,978 1,019,465 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
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The notes form part of these financial statements
continued...
Balance Sheet - continued 31 July 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on …..02.02.2024.... and were signed on its behalf by:
............................................. B Creese – Trustee and Chairperson
............................................. M F Kirby – Trustee and Treasurer
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The notes form part of these financial statements
Notes to the Financial Statements for the Year Ended 31 July 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Lifetime memberships are credited to the Statement of Financial Activities over a period of ten years.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Freehold property | - Not provided |
|---|---|
| Fixtures and fittings | - Straight line over 3 years |
| Computer equipment | - Straight line over 3 years |
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Designated funds, which are Unrestricted funds, have been set aside by the trustees for future expenditure as noted in the Trustees' Report.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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continued...
Notes to the Financial Statements - continued for the Year Ended 31 July 2023
2. OTHER TRADING ACTIVITIES
| Room and Equipment Hire Annual Membership Bar Rental Income Lifetime Membership Other Income Redecoration contribution 3. INVESTMENT INCOME Deposit account interest 4. OTHER INCOME Grants receivable: government Grants receivable: library redevelopment Grants receivable: core funding Grants receivable: specific Settlement received on departure of tenant 5. OTHER Dilapidations expenditure following departure of tenant |
31.7.23 £ 57,934 9,415 8,955 23,406 552 832 - 101,094 31.7.23 £ 2,399 31.7.23 £ - - 10,000 1,308 165,242 176,550 31.7.23 £ 123,739 |
31.7.22 £ 37,169 10,421 6,298 101,619 984 108 5,826 162,425 31.7.22 £ 885 31.7.22 £ 12,555 4,200 - - - 16,755 31.7.22 £ - |
||
|---|---|---|---|---|
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continued...
Notes to the Financial Statements - continued for the Year Ended 31 July 2023
6. NET INCOME/(EXPENDITURE)
| Net (income)/expenditure is stated after (crediting)/charging: | 31.7.23 | 31.7.22 |
|---|---|---|
| £ | £ | |
| Independent Examiner's fee | 1,920 | 1,800 |
| Depreciation - owned assets | 5,350 | 4,089 |
| Legal and professional fees | 29,644 | 20,388 |
Of the above legal and professional fees, £28,294 related to building dilapidations and work connected with the proposed lease (2022: £19,681) and £1,350 to other matters (2022: £707).
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 July 2023 nor for the year ended 31 July 2022.
Trustees' expenses
A total of £440 (2022: £167) was paid to four trustees (2022: two) in respect of travel, subsistence and sundry expenses during the year.
8.
| STAFF COSTS Wages and salaries Social security costs Other pension costs |
31.7.23 £ 147,192 6,738 4,784 158,714 |
31.7.22 £ 131,880 5,607 4,535 142,022 |
|---|---|---|
The average monthly number of employees during the year was as follows:
| 31.7.23 | 31.7.22 | |
|---|---|---|
| Managerial and administrative | 7 | 6 |
No employees received emoluments in excess of £60,000.
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continued...
Notes to the Financial Statements - continued for the Year Ended 31 July 2023
9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Institute Activities Courses Other trading activities Investment income Other income Total EXPENDITURE ON Charitable activities Library Institute Activities Bar Courses General Activities Premises Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted funds £ 8,098 9,526 86,522 162,425 885 4,555 272,011 698 4,750 3,790 34,450 209,420 43,381 296,489 (24,478) 570,965 546,487 |
Restricted fund £ 100 - - - - 12,200 12,300 2,970 - - - 6,364 - 9,334 2,966 470,012 472,978 |
Total funds £ 8,198 9,526 86,522 162,425 885 16,755 284,311 3,668 4,750 3,790 34,450 215,784 43,381 305,823 (21,512) 1,040,977 1,019,465 |
|---|---|---|---|
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continued...
Notes to the Financial Statements - continued
for the Year Ended 31 July 2023
10. TANGIBLE FIXED ASSETS
| Freehold property £ COST At 1 August 2022 696,587 Additions - Disposals - At 31 July 2023 696,587 DEPRECIATION At 1 August 2022 - Charge for year - Eliminated on disposal - At 31 July 2023 - NET BOOK VALUE At 31 July 2023 696,587 At 31 July 2022 696,587 11. STOCKS Bar and other supplies 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors Prepayments and accrued income |
Fixtures and Computer fittings equipment £ £ 38,624 24,761 6,605 - - (17,110) 45,229 7,651 33,857 23,679 4,767 583 - (17,110) 38,624 7,152 6,605 499 4,767 1,082 31.7.23 £ 2,381 31.7.23 £ 8,007 5,212 9,505 22,724 |
Totals £ 759,972 6,605 (17,110) 749,467 57,536 5,350 (17,110) 45,776 703,691 702,436 31.7.22 £ 1,909 31.7.22 £ 12,878 4,341 8,583 25,802 |
|---|---|---|
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continued...
Notes to the Financial Statements - continued for the Year Ended 31 July 2023
13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|
| 31.7.23 | 31.7.22 | |
| £ | £ | |
| Trade creditors | 2,425 | 3,311 |
| Social security and other taxes | 1,699 | 3,614 |
| Other creditors | 2,248 | 1,214 |
| Building project loans | 11,000 | 31,000 |
| Accruals and deferred income | 33,781 | 28,453 |
| Accrued expenses | 31,856 | 26,804 |
| 83,009 | 94,396 |
During the project for redevelopment of the charity's building in 2013, a number of individuals made interest-free loans to the charity in order to assist the financing of the development.
These loans are repayable on differing terms. During the year, loans of £11,000 were repaid. In addition a loan of £10,000, which was due for repayment, was rolled over for a further 3 years (note 15), also at the instigation of the lenders.
Deferred income represents income received in advance of the period to which it relates.
14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
| 31.7.23 | 31.7.22 | |
|---|---|---|
| £ | £ | |
| Other loans (see note 15) | 10,000 | 1,000 |
| Lifetime members due >1 year | 1,927 | 1,906 |
| 11,927 | 2,906 |
15. LOANS
An analysis of the maturity of loans is given below:
| 31.7.23 | 31.7.22 | |
|---|---|---|
| £ | £ | |
| Amounts falling between one and two years: | ||
| Building loans due 1-2 years | - | 1,000 |
| Amounts falling due between two and five years: | ||
| Building loans due 2-5 years | 10,000 | - |
continued...
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Notes to the Financial Statements - continued for the Year Ended 31 July 2023
16. MOVEMENT IN FUNDS
| Unrestricted funds General fund Designated Funds Restricted funds Building Funds TOTAL FUNDS Net movement in funds, included in the above are Unrestricted funds General fund Designated Funds Restricted funds Building Funds TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Designated Funds Restricted funds Building Funds TOTAL FUNDS |
At 1.8.22 £ 46,487 500,000 546,487 472,978 1,019,465 as follows: At 1.8.21 £ 495,965 75,000 570,965 470,012 1,040,977 |
Net movement in funds £ (49,297) 2,006 (47,291) (2,156) (49,447) Incoming resources £ 418,634 10,000 428,634 1,556 430,190 Net movement in funds £ (24,478) - (24,478) 2,966 (21,512) |
Transfers between funds £ 62,006 (62,006) - - - Resources expended £ (467,931) (7,994) (475,925) (3,712) (479,637) Transfers between funds £ (425,000) 425,000 - - - |
At 31.7.23 £ 59,196 440,000 499,196 470,822 970,018 Movement in funds £ (49,297) 2,006 (47,291) (2,156) (49,447) At 31.7.22 £ 46,487 500,000 546,487 472,978 1,019,465 |
|
|---|---|---|---|---|---|
continued...
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Notes to the Financial Statements - continued for the Year Ended 31 July 2023
16. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Building Funds TOTAL FUNDS |
Incoming resources £ 272,011 12,300 284,311 |
Resources Movement expended in funds £ £ (296,489) (24,478) (9,334) 2,966 (305,823) (21,512) |
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Designated Funds Restricted funds Building Funds TOTAL FUNDS |
At 1.8.21 £ 495,965 75,000 570,965 470,012 1,040,977 |
Net movement in funds £ (73,775) 2,006 (71,769) 810 (70,959) |
Transfers between funds £ (362,994) 362,994 - - - |
At 31.7.23 £ 59,196 440,000 499,196 470,822 970,018 |
|---|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Designated Funds Restricted funds Building Funds TOTAL FUNDS |
Incoming resources £ 690,645 10,000 700,645 13,856 714,501 |
Resources Movement expended in funds £ £ (764,420) (73,775) (7,994) 2,006 (772,414) (71,769) (13,046) 810 (785,460) (70,959) |
|---|---|---|
continued...
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Notes to the Financial Statements - continued for the Year Ended 31 July 2023
16. MOVEMENT IN FUNDS - continued
Designated Funds
These comprise the following items:
| Operating Reserve Loss of Revenue from losing RBS as a tenant Addressing Damp issues in the Listed Building Replacing an Ageing Server/Migrating to the Cloud Furniture Renewal programme in Meeting and Lecture rooms New External Signage Redecorating the Listed Building Internally and Externally Legacy Designated towards Wednesday Talks Total Designated Funds at 31 July 2023 |
31.7.23 £ 100,000 120,000 140,000 - 30,000 10,000 30,000 10,000 440,000 |
31.7.22 £ 90,000 180,000 140,000 20,000 30,000 10,000 30,000 - 500,000 |
|---|---|---|
Restricted Funds
The Building Fund was established for the purposes of redeveloping the existing building and facilities, including the continued growth and development of the library. Donations towards it and expenditure relating to it are shown above. This fund also includes specific donations that have been made to the Treasures of the Guildford Institute Library Appeal.
17. RELATED PARTY TRANSACTIONS
Some of the building loans have been provided by existing and previous trustees who are regarded as related parties and, under FRS 102, must be disclosed. The amounts outstanding at the year end are as follows:
Michael Adams £nil (2022: £10,000). (Resigned as trustee 31 October 2021).
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Detailed Statement of Financial Activities for the Year Ended 31 July 2023
| 31.7.23 | 31.7.22 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 26,205 | 1,779 |
| Gift aid | 5,493 | (624) |
| Legacies | 10,000 | 7,043 |
| 41,698 | 8,198 | |
| Other trading activities | ||
| Room and Equipment Hire | 57,934 | 37,169 |
| Annual Membership | 9,415 | 10,421 |
| Bar | 8,955 | 6,298 |
| Rental Income | 23,406 | 101,619 |
| Lifetime Membership | 552 | 984 |
| Other Income | 832 | 108 |
| Redecoration contribution | - | 5,826 |
| 101,094 | 162,425 | |
| Investment income | ||
| Deposit account interest | 2,399 | 885 |
| Charitable activities | ||
| Institute Activities | 17,577 | 9,526 |
| Courses | 90,872 | 86,522 |
| 108,449 | 96,048 | |
| Other income | ||
| Grants receivable | 11,308 | 12,555 |
| Library redevelopment grant | - | 4,200 |
| Dilapidations contribution | 165,242 | - |
| 176,550 | 16,755 | |
| Total incoming resources | 430,190 | 284,311 |
| EXPENDITURE | ||
| Charitable activities | ||
| Wages | 147,192 | 131,880 |
| Carried forward | 147,192 | 131,880 |
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This page does not form part of the statutory financial statements
| Charitable activities Brought forward Social security Pensions Rates and water Insurance Light and heat Telephone Postage and stationery Advertising IT and website costs Books Photocopying Bad debts Subscriptions Equipment Travel Bar supplies Other costs Licences Cleaning Training & recruitment Institute activities Tutor fees Repairs and renewals Bank charges Accountancy Legal and professional fees Independent Examination fee Fundraising consultancy Fixtures and fittings Computer equipment Other Dilapidations expenses Total resources expended Net expenditure |
Detailed Statement of Financial Activities for the Year Ended 31 July 2023 31.7.23 31.7.22 £ £ 147,192 131,880 6,738 5,607 4,784 4,535 618 925 4,667 2,340 14,421 10,155 5,071 4,074 6,628 4,788 12,737 16,274 14,655 10,694 191 - 1,438 620 49 - 80 80 809 1,710 535 639 4,809 3,182 869 1,845 608 426 9,712 10,271 2,018 931 10,469 5,565 32,790 33,835 11,470 21,016 3,114 2,928 5,484 5,228 29,644 20,388 1,920 1,800 17,028 - 4,767 3,554 583 533 355,898 305,823 123,739 - 479,637 305,823 (49,447) (21,512) |
|---|---|
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