a) Guild£ord Institute Annual Report andAccounts Guild£ord Institknt. ,I.JL'ei, Lw.. 2024
Contents Trustees Report Chairperson's Introduction Our Year at a Glance Who we are What we do Where we are Our value5 Our key achievements this year Important changes from July 2024 Our people Structure, Governance and Management Financial Review 5-11 12 13-16 17 18 Reference and Administrative Information 19 Financial Summary Independent Examiner's Report Statement of Financial Activities 20 21 Balance Sheet 22-23 Notes to the Financial Statement5 24-32 Detai led Statement of Financial Activities 33-34
Chairperson's Introduction 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. 1st August 2023 - 31st July 2024. As Last year. our main aim during this period has been to address financing concerns and secure long-term SUStainabiLity for The Guildford Institute. By the end of this period we had made considerabLe progress towards doing this. Firstly M.'Tech. an organisation providing extracurricular music technoLogy and creative courses for children. began their tenancy in May 2024. M.-Tech have settled in welL and we are confident that they share our values for the community and look forward to deveLoping joint projertS With them over time. Revenue from thi5 tenancy wilL Start to flow into the Gl Later in the 2024-2025 financiaL year. SecondLy, we have used a considerable amount of our remaining reserves to redeveLop the ground floor of the building (the former RBS premi5e51 as a Community and WeLlbeing Hub, opening in September 2024. The new space wilL consist of six purpose-built therapy room5 which WILI provide mentaL health 5UPPOrt for the community. The new space is a huge improvement on the oLd buiLding, and the space has been designed to provide maximum flexibiLity which wilL aLLow the hub to be used to best effect in coming years. These changes WILI mean that by the end of the next financial year the building WILI look very different, as wilL the funding model. However, despite these positive changes, ensuring adequate financing for the Institute WILI remain a chaLlenge. We have therefore had a reorganisation of our senior staffing roLes. We are delighted to welcome back as Manager Amy Rice after her maternity Leave, and Lisa TayLor. who had been covering that role during Amy's maternity leave. ha5 moved to Business DeveLopment Manager, a cruciaL roLe in ensuring the Guildford Institute's Long-term success. We have aLso continued to develop our charitabLe offer, from developing cLoser ties with Local charities. offering 'drop-in' activities such as the Chatty Cafe and Stitch & Sip. and have now opened up our wonderful historic library to aLI user5 of the Institute. We are also delighted to say that our award-winning V Cafe is again open 5 days a week for the first time since Covid. Looking forward. we hope for a period of consolidation after many years of difficuLt and turbuLent events. from Covid and Lockdown to our issue5 around finding a new tenanL This year we aim to concentrate on increasing the reach of GuiLdford Institute. whether it is in courses offered. talk5 and visits run, increasing room hire or in our charitabLe work. We hope to offer aftemoon fiLms. evening music events. and continue to innovate and surprise with our activitie5 to keep the Guildford Institute at the centre of our town and comrnunity. BRIAN CREESE The GuiLdford Institute AnnuaL Report & Account5 2024
Our year at a glance Offered over 1.114 hours of course teaching Delivered an afternoon talks programme to more than 1,250 people Supported Local cuLtural venues through 10 group visits Began work to turn our ground floor from a bank to a Community & WeLlbeing Hub Had 102.000 visits Made Library book borrowing freely available to the whole community to our website Facilitated 67 yoga cLasses and 60 meditation sessions, promoting weLLbeing Served 8,502 people in our vegetarian community cafe Offered a programme of 212 courses Obtained a new tenant on our second floor, providing financial support to our charity Ran free coffee momings in our Library to showcase our historic archive Grew our audience. with 16Yo of orders coming from new customers Installed I fixed and 2 portable hearing Loops 2 of our volunteers celebrated 10 years of 5errfice Provided weekly working opportunities for 4 interns The GuiLdford Institute Annual Report & Accounts 2024
Our year at a glance Facilitated 644 meetings for charities & not-for-profit organisations Facilitated 133 NHS meetings Provided staff training on Autism. Dernentia & Domestic Abuse Awareness Sij) Hosted over 245 hour5 of fun with Guildford Games CLub Condurted our first digitally- led brochure launch, to be environmentally conscious Ran a programme of free music events Acted as a drop-off Location for a Community Food Bank Ran 50 free drop-in sessions to tackle loneliness Sent monthLy e-newsletters to over 2.700 subscribers OO Continued to be part of the Safe Places National Network Provided a permanent space to 22 talking therapists, counselLors and psycologists Partnered with GuiLdford Arts to provide 11 free exhibitions to support over 25 LocaL artists Reached 40, 400 peopLe through our Instagram and Facebook posts Offered 203 5e55ion5 online, for those who find it easier to take part from home Partnered with Open Access Arts to offer free & creative dementia-friendly sessions The Guildford Institute Annual Report & Account5 2024
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 aLI 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 stllalL professionaL staff team, supported by voLunteers and interns. I 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 event5 to the aduLt community through courses, events. VlSlt5. 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 Grade11 listed building. ere we are We are based on the corner of North Street and Ward Street. in the heart of GuiLdford, where we have been educating. inspiring, and uniting people across the local area for over 150 years. 66 Guildlord Institute is a wonderful resource and our town is very lucky to have itl 99 ur values Irv ',T JI 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 The GuiLdford Institute AnnuaL Report & Account5 2024
Our key achievements this year e continued to develop our programme this year. Our programme is the heart of what we do Across the year, we organised 212 courses. representing 1,114 hour5 of teaching. Our programme was as wide-ranging as ever and incLuded topics as varied as Ukroinion Art. An Introduction to Zen andjapanese Philosophy and Marvels of Aerospace Engineering. We continued to provide an online programme offering for those who find it easier to take part from home. with 203 sessions offered online. Our Wednesday afternoon talks programme proved to be as popuLar as ever with more than 1,250 attending these events throughout the year. Particular highlights were 50Ld-out taLks conducted by V&A Curator Stephanie Wood on Coco Chanel and Mary Quant. We supported other local cuLturaL venues by organising a totaL of ten group visits thi5 year, and hosted a wealth of onsite '5pecial events.. Music night5 in particuLar were a prominent feature of the events programme thi5 year, with a series of free Open Mic Night5 on offer, recital5 by Local Young Musicians and a 50ld-out Guildlord Rock n Roll Show providing an evening of fun and nostalgia. As a first, with a view to being environmentslly conscious, we conducted a digital-first brochure launch this year. reducing the number of brochures that we printed and instead sending copies digitally. A growing reLiance on digital media will continue to form a focus for us moving forwards. enabling us to be more flexible and responsive with our programming. '66 Coming to courses and talks at the Guildford Institute is so important to me. I retired a year ago and am ling on my own. I did not seem to have a purpose ...... coming here means that l am learning new things, at my age ollife, and as importantly l am getting to know a lot of new people and hopefvlly these .11 develop into friendships. 99 We began redevelopment work5 to turn the Institute's ground floor into a Community & Wellbeing hub. We reclaimed the Space that had been Let out as a bank since 1964, turning it back into a community asset In July 2024, we began redeveLopment work5 to turn our ground fLoor into a Community & Wetlbeing Hub. Untiljune 2022, thi5 part of the building had been occupied by a banking tenant for 58 years. The GuiLdford Institute Annual Report & Accounts 2024
Our key achievements this year In the absence of a commerciaL tenant coming forward to take over this space, and following the withdrawaL of a previous offer from a dentaL prattice in November 2023, the Board decided this would provide the best way of effectively utilising this prominent space on North Street to extend our offering, whiLst also acquiring vitaL income for our charity. The redeveLopment project was funded from the Institute's reserves and invoLved the creation of 51X purpose-built therapy room5 that can be used to provide much-needed mentaL heaLth sUPPOrt for the community in the daytime, evenings & weekend5. Also included in this project was a meeting space that can be utiLi5ed for a wide range of meetings, which is regularLy used by groups such as Educatch Charity, an organisation that provides targeted support for young peopLe. 66 The demandfor mental health support in Guildlord and the wider community is extremely high and a Hub such as this is very much needed in the town centre. The demand for such setvices and space is experted to rise as the town centre populrtion is Set to increase over the next decade. 99 Vanessa King, Borough Councillor 66 As a counsellor Ifeel it is very important to offer counselling sessions in on accessible, easy to reach, town centre location near to trains, buses and parking. The Guildford Institute also offers other courses importantfor mental health such as art and tai chi that our clients can access. Here you meet a diverse range of people and committed volunteers. The new space will provide spacious, bright purpose-built therapy rooms and an areafor group counselling sessions. Helen Baker 99 The Guildford Institute AnnuaL Report & Accounts 2024
Our key aehieuements this year We obtained a long-term tenant for the second-floor of our building, securing vital income for our charity M..Tech Education Services began their tenancy on the second-fLoor of our buiLding in May 2024. M-Tech was Launched in 2008 and provides extracurricuLar music technology and creative courses for chiLdren. Importantly, they share our mission and value5. FolLowing a period of redeveLopment on the second fLoor in the earLy surntner of 2024. M:Tech have settLed into our buiLding and WILL continlje to provide assured income for the Institute in the years to come. We worked with local charities and organisations We partnered with a wide variety of local charities and organisations in order to widen the support we can give to the community. We continued our Long-standing relationship with Halow Project to provide 'Crafty Creations., which supports peopLe with learning disabilities and/or autism on their journey into and through aduLt Life. FoLLowing receipt of a grant from the ShanLy Foundation, we developed a partnership with Open Access Arts to deliver a Series of free creative sessions aimed at peopLe Living with t)ementia. One of our professionaL team sat on the Board of Experience GuiLdford. vvhich aims to support Local busine55es to coLLaborate and deveLop. We sponsored a prize at Guildford Art Societys summer exhibition. 66 Cn7fty Creations weekly art and craft group has met at The Guildford Institutefor eight years. in which time I have been their specialist art tutor. supplied by Guildford Institute. The Institute provides the Halow Projert students with a sympathetic venue, where they canfeel relaxed and where their talents canflower. This is an important 155uefor people with a learning disability. to whom the world can sometimesfeel a bewildering place. The Pmjert encourages student independence and the Institute's central location enables many of them to make their own way to classes, and its accessibility make it Sultablelor members with additional physical disabilities. Hilary Underwood, for Halow Project. Crafty Creations 99 The Guildford Institute Annual Report & Accounts 2024
Our key achievements this year 5-4J We provided facilities for more than 800 meetings Our room hire offering continued to be most popular with charities and not-for-profit organisations this year, with 75°A of our bookings coming from these organisations. Room Bookings August 2023- July 2024 We saw a significant rise in bookings and income obtained from hosting meetings this year- a 31% in increase in income compared to the previous year. We're delighted that our venue has been able to support so many other local charities by providing them with reduced room hire fees and an inclusive, accessible space to meet. We are proud to have included charities and not-for-profits such as the foLLowing in our list of reguLar hirers thi5 year: Lhanries & lommunrry Groups •NH5 Standard Users The Eikon Charity. who host a regular LGBTQ+ youth group at our venue Guildford Games Club Versus Arthritis. the UK'S largest charity dedicated to supporting peopLe with arthriti5 and The National Autistlc Society Focus on Room Hirers: Guildford Gamers We hosted 245 hours of board gaming fun. 66 The Guildford Institute is a great community venue. conveniently located in the town centre. Many board-games clubs meet in dark, - noisy, sticky pub5 - moving here was a literal game changer for LL.1 our group. The Institute is very accommodating, offering a variety of flexibly configured rooms to fit our needs. at reasonable rates. The staff are friendly and helpful. and the building is set up to ensure that attendees with mobility issues can access alL the spaces. The only unexpetted pirfalls and dicey 51tuations we face at The Guildford Institute are the ones in our games. 99 The Guildford Institute Annual Report & Accounts 2024
Our key achievements this year Our community vegetarian café provided healthy meals for local people. whilst also providing a friendly space for free events to take place This year, we served 8,502 people in our café. providing heaLthy, home-cooked food from a daily- changing menu. Our café increased its operating hours to include Mondays this year, for the first time since the pandemic. enabling us to offer this service five days a week once again. 66 Just lovely. Perfert place to chat with Iriends and ert tastyfood. Varied menu of veggie and vegan options. Lovely atmosphere. Plenty of space. A sale, comfvrtable space ifyou're on your own but equally welcomingfor small groups. Staff are superfriendly and helpful. 99 Tripadvisor Review, June 2024 Beyond providing healthy meals, the café space provided an area for a wide variety of groups to meet. free of charge. This include5: Stich and Sip. which meets fortnightly to provide sociaL opportunities whilst practising crafting skilts Meetings on behalf of the national Chatty Cafe Scheme the UK'5 Leading non-profit organisation tackling loneliness A Guildford Artists Support Platform (AGASP), which facilitates coLLaboration between LocaL artists Plus reguLar language conversation groups in French, Italian and German. respertively We also partnered with Local organisation Guildford Arts to provide 11 free exhibitions in the café, 5UPPOrting over 25 Local artists throughout the year. The Guildford Institute Annual Report & Accounts 2024
Our key achieve7nents this year Book borrowing became open to all, making our historic library more accessible to the community Having opened in 1892, our Library has been serving the Guildford community and beyond ever since! This April, we changed our policy regarding borrowing. making books from this unique asset avaiLable to all for the first time in recent history. This change brings book borrowing in line with acce5S to the Institute's impressive archive coLLection and historic research, which is aL50 freely avaiLable to the pubLic. Our library is staffed entireLy by an extremely dedicated and knowLedgeabLe team of voLunteer5. many of whom have been volunteering at the Institute for a period of ten year5 or more. In addition to ensuring the Library 15 well run day-to-day, the team host regular coffee mornings in the Library. These popular events are free to attend and provide an opportunity to showcase some of the historic archive material to an audience. The unique space provides a safe and welcoming place to browse, read and research. It also provides a home for Institute activities such as our Creative Writing course, a book cLub and writing circle, a5 weLL as a space for room hirers such as the NHS, who use the space weekLy to host a support group for those with personaLity disorders. 66 Libraries are special - andlew more so, to my mind, than the small but perfertly- lon77ed library rt the Guildlord Institute. This historic librory. with its wide selertion olbooks. friendly atmosphere and expert (volunteer) librarians, stays true to the Institute'slounding aim of offering educrtion to all. With shelves of books reaching to the ceiling, it exudes thot heady. slightly musty scent of learning, common to great libraries across the world.... jlBIjI:l-llllt12 r iNI:,-Jiir The Guildford Institute Annual Report & Accounts 2024 10
Our key achievements this year 66 .. Through 2024, I've been lucky enough to savour all thisfor myself. In the spring I was pleased to give a Coffee Morning talk, explaining the role the Institute (and Stella Stockerfs creative writing classes in particular) had played in my short story collertion being published. I've atso enjoyed the Library s eclertic selection of titles, spanningfirtion and non-fiction. It's clear that past, as well as current, librarians have had discerning taste, M'th slightly overlookedfemale writer5 - think Dorothy Whipple or Susan Hill - particularly well represented. Very often, a book thays hard to find elsewhere - even rt the larger Guildford Library across the road - can be tracked down in the Library's shelves or stores. The Library is open to all, whether Institute members or not, all day on Thursdays and Saturdays. It s o wonderful place to browse, learn about local history or simply read the newspaper. At a time when far too many libraries across Britain are closed or under threat, leys make the most of this precious gem on our doorstep. 99 Alice Fowler, former Institute student and author The GuiLdford Institute Annual Report & Accounts 2024 11
Important Developments since July 2024 This year, we've executed some big changes, making our organisation more resilient moving forwards. We'll continue to adapt during the upcoming year in order to secure the Long-term future of our important community resource. Our history 1891 1892 1964 The Mechanics Institute purchased a faiLing Temperance Hotel Created teaching rooms and a home for a Library- this became The Guildford Institute Let the ground floor and basement of the Institute to William5 & Glyn'5 Bank and subsequently The Royal Bank of Scotland (RB5). to provide us with income to sub5idi5e our core purpose - to offer educational activities - in an economicalLy viable way Present day September 2024 -• November 2024 Work5 in our new Community & WeLLbeing Hub were completed. with aLI therapy rooms Let at the point of compLetion to a totaL of 14 therapists, counseLLors and psychologists. The hub was ofFicialLy opened at a weLcome event by the Institute's patron. The Mayor of GuiLdford, SaLlie Barker MBE, alongside our local MP, Zoe Franklin. Future Plans Partnerships & Fundraising Growing our programme Despite the Successes reported in this report the Institute does still have a significant gap in our finance5 folLowing the Ios5 of the rental from our previous ground-floor tenant and in the face of the current economic climate. A key goal for the way forward is to focus on addressing this by extending our reach into the community with a greater number of partnerships with Like-minded organisations. We are also planning to launch fundraising campaigns and appLy for grants to secure additional funding. We will continue to grow our programme offering and audience. through the addition of new activities and making use of our greatest asset - our historic building - by utilising it as much as possibLe throughout the whole year. In February 2025, we will move away from a three-termly, traditional academic structure and instead release two large, six-monthly programmes per year. By doing so. we aim to make greater use of previously slightLy quieter time5 in the academic calendar, such as Augus¢ and ensure that we're providing a5 much as possible for the community, aLI year round! The GuiLdford Institute Annual Report & Accounts 2024 12
Our People We are governed by a board of trustees and operate with a small professional staff team aLong with volunteers and interns. We are extremely grateful for the hard work and dedication shown by aLI of these individuaLs. Trustees Brian Creese. Chair Background in: Education, TV/Video Elerted 2019 Mlke Klrby. Treasurer Background in: Accountsncy lp Elected 2020 Sophle Chapman Background in: Transport leadership David Cheeseman Background in: Transport and higher education I-l .trI.I*AI Elerted 2017 Elerted 2019 Janet Crowe Background in: The criminal justice system Phll Davles Background in: Public and charity sertor leadership Elerted 2022 ..1 Elerted 2018 Rachel Pirovano Background in: Fundraising sertor Tom Heasman Background in: Strategic change, economics, computer science Eletted 2021 441 Elerted 2022 Focus on David Cheeseman, Trustee The more I see of the Gl and what it does, the more l admire it. Our country and our Society IS much richer a5 a resuLt of having so many wonderful institutions dedicated to making crafts, arts, culture and further and higher education available. I think it is a priviLege to be involved in the Institute and its brilliant work. The Guildford Institute Annual Report & Accounts 2024 13
Our People Staff team Amy Rl Manager Chelsea Eves Programme Manager Amy Mason Events Assistant Mark Finn Evening Steward Usa Taylor Business DeveLopment Manager Emma Abram5 Marketing & Comms Officer icky Pursey Finance & Projects AsSlStant Antonio Stifanl Caretaker Focus on Amy Rice, Institute Manager Amy h35 worked at the Institute for more than 10 years, having done three roles in the office before taking over as Institute Man3ger in 2018. Amy enjoys how varied her role is, from dealing with the Grade11 Listed building, to helping with event5, to financial responsibilities and much more in- betweenl Amy's favourite part of her job, however, 15 spending time with all the peopLe invoLved at the Institute, including the customers and the dedicated staff team. The Institute is so important to so many peopLe, and it is lovely to be part of itl Our Interns & Volunteers Our organisation reLies on the support of a team of volunteers. who give their time in tasks as varied as- Running the Institute's library, which is staffed exclusiveLy by a team of volunteers Assisting with events organisation and delivery Assisting with the maintenance of our Grade11 listed building Working on our Reception and assisting with admin This year, we celebrated the ten-year anniversary of two of our volunteers joining our team. Both PhiLip WiLkinson and Rob Durham have given a huge amount of time to the Institute library and we are extremeLy gratefuL to them. The Guildford Institute AnnuaL Report & Accounts 2024 14
Our People We aLso provided deveLopment opportunitie5 to four interns this year. each of whom dedicated significant time to the Institute and gained vaLuabLe work experience as a result. These individuaLs were: Bipina Gharti, Marketing Intern Jansu OguLmus, Marketing Intern Emma Gunasekera, Data Intern lan Chan, Communication & Engagement Intern Focus on Emma Gunasekera, Data Intern I have loved my time volunteering at the GuiLdford Institute. and something I looked forward to each week. As a volunteer primarily based in the office. it has provided me with valuabLe knowLedge and skil15 that it takes to run a pLace Like the Gl on a day-to-day basis. Throughout my experience, I have aLso enjoyed getting to know the staff, who are incredibLy kind and generous, and aLway5 appreciative of any help they receive. The Gl is a very warm environment, both for the visitors and volunteer5. and a place I highly recommend to anyone in and around Guildford. Our Tutors We simpLy could not run our extensive activity programme without our dedicated team of tutors. Their passion and knowLedge of their subject matter ensures that our courses are aLways of high quaLity, and their creativity ensures that the programme is forever growing and extremeLy varied. We thank them for all of their hard work. Focus on Darren Harper BA (Hons) PGCE As an itinerant aduLt education teacher. teaching Philosophy, Literature and Creative Writing, I made contact with the Gl in January 2022. Since that time, Chelsea (Programme Manager) and I have experimented with different courses in these areas. and now have an enthusiastic folLowing for Philosophy. Philosophy & Literature. and StOlC15m with Meditation. The aim of my courses is to encourage people to think about the world from different perspectives, as well as to develop their understanding. By doing this in an engaging (and. dare I say. entertaining) way, I feel that the courses are not only fun, but intelLettuaLly. emotionaLly and Socially nourishing. AIL of this is made possible by the Gl itself. By the ever enthusiastic team (both in the office and the trustees I have met). who beLieve wholeheartedly in the immeasurable value of Lifelong Learning, and its benefits to the community. The GuiLdford Institute Annual Report & Account5 2024 15
Our People Gl Stakeholder Survey 2023 IOO°A of respondents rate the quality of course content as high quality or very high quality. 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 or a counselling appointment, joining a Chatty Café session, pLaying board games. using our library, 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 SUPPOrt personaL growth for each individual, and facilitate meaningfuL connections within our diverse community. 66 Many thanksfor Mondaji's party. I came solo,. and it was immediately obvious that one of the great strengths of the Gl is the appreciation of its members for all that is on offer and the way that the empathetic staff team do so much to give afocus to the strong communityfeeling and sheer sense of enjoyment at events. So on Monday I was able to sit and chat with two members I didn't know previously, and then 'link' with a new member who had recently returned to the area and wefound we had much in common. 99 Institute Member Thanks to all of our supporters The Guildford Institute AnnuaL Report & Account5 2C124 16
Structhre, 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 interns, 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-committee5. each with its own terms of reference and membership. Each subcommittee incLudes at Least one trustee who reports to the fuLI 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 proce55. 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 from among their number. Trustee Meetings Our trustees usuaLLy meet every six weeks. with the Institute Manager and Business Development 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 organi5ation. these demarcations are somewhat fluid. The manager 15 responsible for budgeting and generaL finance5 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 Charitie5: Statement of Recommended Prartice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicabLe in the UK and RepubLic of IreLand (FRS 102) (effective l January 2019). The Guildford Institute Annual Report & Account5 2024 17
Financial Review The year to 31st July 2024 was another challenging one for the Institute financially. In large part, this was due to the ground floor of our historic building being vacant for the entire financial year, and therefore it yielded no revenue. Total income this year was £261,772, 3 decrease of £168,418 or 39% year on year. However, last yearfs income incLuded a one-off receipt of £165,242 in diLapidations payments from our departing ground fLoor tenant. We are pleased to say that our course revenue showed a very healthy 9°A increase. TotaL expenditure this year wa5 reduced considerably. with outgoings totaLling £340,072 this year compared to £479.657 Last year (a 29% decrease)- However, thi5 figure is once again impacted by the dilapidation5 on the ground fLoor, with £123.759 being spent on thi5 in 2022-2023. compared to nothing in this financial year. OveraLL the Institute made a Significant Los5 this year of £78.300, compared with a [055 of £49,447 from 2022-2023. A5 discussed, thi5 is mainLy due to the absence of any rentaL income for the ground fLoor, in addition to increased costs in some areas, particuLarLy Staffing. FoLlowing the I055 of the prospective tenant, a dental practice. for the ground floor in November 2023, and in the absence of any immediate aLternative commerciaL interest, considerable thought and effort has been appLied this year into planning for the future and generating a feasible aLternative use for this premium space within our building. As discussed on pages 5, 6 and 7 in this report, a redeveLopment project was completed shortLy after the year end to turn thi5 Space into a Community & Wellbeing hub, which WILI benefit local people but WILI also make us a considerably more resilient organisation going forwards. The type of tenants who now occupy our ground fLoor space are al50 more cLoseLy aligned to our core charitable vaLues than were the previous long-term tenants. We also gained a new long-term tenant on our second fLoor during the 2023 2024 financial year. We anticipate that this WILI lead to an improved performance in 2024 - 2025 compared with this year, as we continue to adjust to the Loss of the extremely significant income we obtained from our former tenant. The Royal Bank of Scotland. However, it shouLd be stressed that the market for commercial properties is not as strong as it once was and the Institute 5tiLI faces chalLenge5 in order to get it5 income levels back to Long-susta inabi Lity. To sumrnarise, the Institute's Unrestricted Funds reduced by £80.915 this year to £418,281. These funds incLude £556.987 of Designated Funds. as detailed in note 16. The balance on the Institute's Restricted Funds increased by £2,615 to £473,437. leaving total funds at £891.718, a decrease of £78.300 for the year. Reserves Pollcy The Charity Commi55ion expect5 trustees to decide, pubLish, implement and monitor a charity'5 reserves policy. The board of trustees has determined that the Institute should be putting aside a reserve of £336,987 as Designated Funds. a subset of totaL Unrestricted Fund5, a5 detaiLed in note 16. The Guildford Institute AnnuaL Report & Accounts 2024 18
Reference andAdministrative Information Legal and administrative detsils Registered Company Number 6571640 (EngLand and Wales) Registered Office GuiLdford Institute Ward Street Guildford GUI 4LH Registered Charity Number 1125031 Bankers CAF Bank. 25. Kings Hill Avenue, Kings Hill. West MaLLing, Kent, ME19 4JO Solicitors Moore Barlow, Gateway House, Tollgate. Chandler's Ford. EastLeigh. S053 3TG Trustee5 S Chapman M F Kirby D S Cheeseman J Crowe B Creese T E Heasman P L G Davies R Pirovano (resigned 30.10.23) Independent Examiner A J Bennewith FCA. FCPA, FFA. FFTA, FIPA, DChA, FRSA Upper Ground Floor 18 Farnham Road Guildford Surrey GUI 4XA Approved by order of the board of tru5tee5 on . 30 Lr. and signed on its behalf by: B Creese - Trustee and Chairperson The Guildford Institute AnnuaL Report & Accounts 2024 19
Independent Examiner's Report to the Trustees of The Guildford Institute Independent examlner'5 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 2024. Responsibilities and basis of report As the charity's trustees of the Company land also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 2006 Act'l. 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 Settion 145 of the Charities Act 20111'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145151 Ibl of the 2011 Act. Independent examiner's statement Since your charity's gro55 income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, which 15 one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connertion with the examination giving me cause to believe= accounting records were not kept in respett of the Company as required by Section 386 of the 2006 Act- or the accounts do not accord with those records; or the accounts do not comply with the accounting requirements of Settion 396 of the 2006 Act other than anv requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or the accounts have not been prepared in accordance with the methods and principle5 of the Statement of Recommended Practice for accounting and reporting by charities lapplicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 10211. I have no concerns and have come across no other matters in connettion 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. AJ Bennewith FCA, FCPA. FFA, FFTA, FIPA, DChA FRSA Upper Ground Floor 18 Farnham Road Guildford Surrev GU14XA lois 20
Statement of Financial Artivities for the Year Ended 31 Jul 2024 31.7.24 Total funds 31.7.23 Total funds Unrestricted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 5,783 2,653 8.436 41,698 Charltsble artivities Institute Artivities Courses 17,560 99,040 17,560 99,040 17.577 90.872 Other trading activities Investment income Other income 126,724 5.012 126.724 5,012 5.000 101,094 2,399 176,550 5,000 Total 254.119 7,653 261,772 430.190 EXPENDITURE ON Charitable artivities Library Institute Attivities Bar Courses General Activities Premises 1,698 9,407 5,384 31,595 243,566 43.384 809 2,507 9,407 5,384 31,595 243,566 47.613 2.709 10.469 4.809 33.190 265,227 39,494 4,229 Other 123.739 Total 335,034 5,038 340,072 479,637 NET INCOME/{EXPENDITURE) 180,9151 2,615 I78,3} {49,4471 RECONCILIATION OF FUNDS Totsl funds brought forward 499,196 470,822 970,018 1,019.465 TOTAL FUNDS CARRIED FORWARD 418.281 473.437 891.718 970,018 The notes form part of these financial statements 21
Balance Sheet 31Jul 20Z4 31.7.24 Total funds 31.7.23 Total funds Unrestricted funds Restricted funds Notes FIXED ASSETS Tangible assets io 264,271 468,437 732,708 703.691 CURRENT ASSETS Stocks Debtors Cash at bank li 12 1,664 76,476 229.738 1,664 76,476 234,738 2.381 22,724 336.158 5.000 315,895 5,000 32.895 361,263 CREDITORS Amounts falling due within one year 13 1142,4431 1142,4431 {83,0091 NET CURRENT ASS5 165,435 5,000 170.435 278,254 TOTAL A55ETS LESS CURRENT LIABILITIES 429.706 473,437 903,143 981,945 CREDITORS Amounts falling due after more than one year 14 111,4251 111,4251 111,9271 NET ASSETS 418,281 473,437 891.718 970,018 FUNDS Unrestricted funds Restricted funds 16 418,281 473,437 499,196 470,822 TOTAL FUNDS 891,718 970,018 The charitsble company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for lal ensuring that the charitable company keeps accounting records that comply with Sertions 386 and 387 of the Companies Act 2006 and 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 ofthe Companies Art 2006 relating to financial statements, 50 far as applicable to the charitable company. Ibl The notes form part of these financial statements 22 continued...
Balance Sheet- continued 31Jul 2024 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 ..30 /•.*. 4..U.. .... and were signed on its behalf bv: reese- Trustee irby Trustee The notes form part of these financial statements 23
Notes to the Financial Statements for the Year Ended 31 Jul 2024 ACCOUNTING POUCIES Basls of preparing the financlal ststements 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 IFRS 1021 '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 IFRS 1021 leffective l January 20191,. 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 recogni5ed in the Statement ot Financial Artivities 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 committinE the charity to that expenditure, rt is probable that a transfer of economic bene*its 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 dirertly attribed to particular headings, they have been allocated to activitie5 on a ba515 con515tent 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 Freehold property Improvements to property Fixtures and fittings Computer equipment Not provided Straight line over 10 years Straight line over 3 years 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 charitsble activities. Fund accounting Unrestritted funds can be used in accordance with the charitable objertives at the discretion of the trustees. Designèted 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. 24 continued...
Notes to the Flnancial Ststements- contlnued for the Year Ended 31 Jul 2024 OTHER TRADING AcfiviTIES 31.7.24 31.7.23 Room and Equipment Hire Annual Membership Bar Rental Income Lifetime Membership Other Income Service charges Professional fees contribution 76,131 12,282 10,649 22,130 502 607 1,500 2,923 57,934 9,415 8,955 23,406 552 832 126.724 101,094 INVESTMENT INCOME 31.7.24 31.7.23 Dep051t account interest 5.012 2,399 OTHER INCOME 31.7.24 31.7.23 Grants receivable: core funding Grants receivable: specific Settlement received on departure of tenant 10,000 1,308 165,242 5,000 5,000 176.550 OThER 31.7.24 31.7.23 Dilapidations expenditure following departure of tenant 123,739 NEf INCOME/(EXPENDITURE) Net {incomel/expenditure 15 Stated 3fter {creditingllcharging'. 31.7.2 31.7.23 Independent Examiner's fee Depreciation - owned assets Legal and professional fee5 1,440 4,153 6,277 1,920 5,350 29,644 Of the above legal and professional fees, £5.504 related to building dilapidations and work connected with the proposed lease12023- £28,294) and £773 to other matters12023: £1,350). 25 continued...
Notes to the Financlal Statements - contlnued for the Year Ended 31Jul 2024 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 July 2024 nor for the year ended 31 July 2023. Trustees. expenses A total of £3012023: £4401 was paid to one trustee12023= four) in respect of travel expenses during the year. srAFF COSTS 31.7.24 31.7.23 Wage5 and salaries Social security costs Other pension costs 159,285 8.912 4,086 147,192 6.738 4.784 172,283 158,714 The average monthly number of employees during the year was as follows.. 31.7.24 31.7.23 Managerial and administrative No employees received emoluments in exce55 of£60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfiviTIES Unrestricted funds Restricted funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 41,450 41,698 Charitsble actlvltles Institute Activities Courses 17,577 90,872 17,577 90.872 Other trading activitie5 Investment income Other income 101,094 2.399 175,242 101.094 2.399 176.550 1,308 Total 428.634 1,556 430.190 EXPENDITURE ON Charitable activities Library Institute Activities Bar Courses General Activities Premises 1.941 10.469 4.809 33.190 262,283 39,494 768 2,709 10,469 4.809 33,190 265,227 39,494 2.944 26 continued...
Notes to the Financial Statements - continued for the Year Ended 31 Jul 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfiviTIES - continued Unrestricted funds Restricted funds Total funds Other 123,739 123,739 Total 475,925 3,712 479,637 NET INCOMEI(EXPENDITURE) 147.2911 12.1561 149,4471 RECONCILIATION OF FUNDS Total funds brought ft)rward 546,487 472,978 1,019,465 TOTAL FUNDS CARRIED FORWARD 499,196 470,822 970,018 io. TANGIBLE FIXED ASSErs Improvements to property Fixtures and fittlngs Freehold property Computer equipment Totals COST At l August 2023 Addttions 696,587 45,229 7,651 749,467 33.169 33,169 At 31 July 2024 696,587 33.169 45,229 7,651 782,636 DEPRECIATION At l August 2023 Charge for year 38,624 3,819 7,152 333 45,776 4,152 At 31July 2024 42,443 7,485 49.928 NET BOOKVALUE At 31 July 2024 696,587 33,169 2,786 166 732.708 At 31 July 2023 696,587 6,605 499 703,691 27 continued...
Note5 to the Financial Statements - contlnued for the Year Ended 31 Jul 2024 ii. STOCKS 31.7.24 31.7.23 Bar and other supplies 1,664 2,381 12. DEBTORS: AMOUNTS FALLING DLIE WITHIN ONE YEAR 31.7.24 31.7.23 Trade debtor5 Other debtors Prepayments and accrued income Prepayments to fixed assets 8,569 2,501 10,189 55,217 8.007 5,212 9,505 76,476 22.724 13. CREDITOR5.' AMOUNTS FALLING DUE WITHIN ONE YEAR 31.7.24 31.7.23 Trade creditors Social security and other taxes Other creditor5 Building projett loans Deferred income Accrued expenses 79,685 2,196 1,248 10,000 31,582 17,732 2,425 1,699 2,248 11,000 33,781 31,856 142,443 83,009 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 £1,000 were repaid. Deferred income represents income received in advance of the period to which it relates. CREDITORS: AMOUNTS FALLING DUE AFTER MORE ThAN ONE YEAR 31.7.24 31.7.23 Other loans (see note 151 Lifetime members due >1 year 10,000 1,425 iO.O(M) 1.927 11,425 11,927 28 continued...
Notes to the Financial Statements - continued for the Year Ended 31 Jul 2024 15. LOANS An analysis of the maturity of loans is given below.. 31.7.24 31.7.23 Amounts falling due between two and five years.. Building loans due 2-5 years 10,000 10.000 16. MOVEMENT IN FUNDS Net ovement in fund5 Tran5fer5 between funds At 31.7.24 At 1.8.23 Unrestricted fund5 General fund Designated Funds 59,196 440,000 {77,9021 13,0131 loo,000 iioo,0001 81,294 336,987 499,196 180,9151 418,281 Restricted funds Building Funds Hearing Loops SupportiveArt Courses 470,822 14061 21 3,000 21 1211 470,437 3,000 470,822 2,615 473,437 TOTAL FUNDS 970,018 178,3001 891,718 Net movement In funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestrlrted funds General fund Designated Funds 254,119 1332,0211 13,0131 {77.9021 13,0131 254.119 1335,0341 {80,9151 Restricted fund5 Building Funds Hearing Loops Supportive Art Courses 403 4,250 3,000 18091 14,2291 14061 21 3,000 7,653 15,038} 2.615 TOTAL FUNDS 261,772 1340,0721 {78,3001 29 continued...
Notes to the Financial Statements - continued for the Year Ended 31 Jul 2024 16. MOVEMENT IN FUNDS- continued Comparatives for movement in funds Net movement in funds Transfers between funds At 31.7.23 At 1.8.22 Unrestricted funds General fund Designated Funds 46,487 5LHJ.000 149.2971 2.006 62,006 162,0061 59,196 440,000 546,487 147,2911 499.196 Restrirted funds Building Funds 472,978 12,156) 470,822 TOTAL FUNDS 1,019,465 149.4471 970.018 Comparative net movement in funds. Included in the above are as follows: Incoming re50urce5 Resources expended Movement in funds Unrestrlrted funds General fund Designated Funds 418,634 10,000 1467,9311 17.9941 149,2971 2,006 428,634 1475,9251 147,2911 Restrkted ndS Building Funds 1,556 (3,7121 12,1561 TOTAL FUNDS 430,190 1479.6371 149,4471 30 continued...
Notes to the Financial Statements - continued for the Year Ended 31 Jul 2024 16. MOVEMENT IN FUNDS- contlnued A current year 12 months and prior year 12 months combined position is as follows: Net movement in funds Transfers between funds At 31.7.24 At 1.8.22 Unrestricted funds General fund Designated Funds 46.487 5(Kl.000 1127.1991 11,0071 162.006 1162.0061 81,294 336,987 546,487 1128.2061 418.281 Restrirted funds Building Funds Hearing Loop5 Supportive Art Courses 472,978 12,5621 21 3,000 21 1211 470,437 3,000 472,978 459 473,437 TOTAL FUNDS 1.019.465 1127.7471 891,718 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund Designated Funds 672,753 10,000 1799,9521 111,0071 1127.1991 11.0071 682,753 1810,9591 1128,206) Restricted funds Building Funds Hearing Loops Supportive Art Courses 1.959 4.250 3,000 14.5211 14.2291 12.5621 21 3.000 9.209 {8,7501 459 TOTAL FUNDS 691.962 1819,7091 1127.7471 31 continued...
Notes to the Financial Statements - Continued for the Year Ended 31 Jul 2024 16. MOVEMENT IN FUNDS- continued Deslgnated Funds These comprise the following items.. 31.7.24 31.7.23 Operating Reserve Loss of Revenue from losing RBS as a tenant Addressing Damp issues in the Listed Building Furniture Renewal programme in Meeting and Lecture rooms New External Signage Redecorating the Listed Building Internally and Extern311y Legacy Designated towards Wednesday Talks loo,000 20.000 140,000 30,000 10,000 30,000 6,987 loo,000 120,000 140,000 30.000 io,cKJo 30.(KJO 10.000 Total Designated Funds at 31 July 2024 336.987 440.000 Restrlrted Funds The Buildin 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 Trea5ure5 of the Guildford Institute Library Appeal. Hearin Loo Fund Money granted and donated for the specific purpose of the installation of a hearing loop system within our premises. ortive Art Fund This restricted grant is for a project called Creative Communications: Supporting People Living With Dementia Through Art which will be used for Art sessions for people with Dementia. 17. RELATED PARTY TRANSACTIONS There were no related party transactions for the year ended 31 July 2024. 32
Detailed Staternent of Financial Actlvities for the Year Ended 31 Jul 2024 31.7.24 31.7.23 INCOME AND ENDOWMENTS Donatlons and legacies Donations Gift aid Legacies 5,249 2,187 1,000 26.205 5,493 10,000 8.436 41.698 Other trading activitie5 Room and Equipment Hire Annual Membership Bar Rental Income Lifetime Membership Other Income Service charges Professional fees contribution 76,131 12,282 10,649 22,130 502 607 1,500 2,923 57,934 9,415 8.955 23.406 552 832 126,724 101,094 Investrnent Inrne Deposit account interest 5,012 2,399 Charitable activities Institute Activities Courses 17,560 99,040 17,577 90,872 116,600 108.449 Other income Grants receivable Dilapidations contribution 5,000 11,308 165.242 5,OLX) 176,550 Totsl incoming resources 261,772 430.190 EXPENDITURE Charitsble activities Wages Social security Pensions Rates and water Insurance Carried forward 159.285 8,912 4,086 1,751 4,960 178,994 147,192 6,738 4,784 618 4.667 163,999 This page does not form part of the statutory financial statements 33
Detailed Statement of Financial Activities forthe Year Ended 31Jul 2024 31.7.24 31.7.23 Charitable activities Brought forward Light and heat Telephone Postage and stationery Advertising IT and website costs Books Photocopying Bad debts Subscriptions Equipment Travel Bèr supplies Other cost5 Licences Cleaning Training & recruitment Institute activities Tutor fees Repairs and renewals Bank charges Accountancy Le8al and professional fees Independent Examination fee Fundraising consultancy Temporary staff Fixtures and fittings Computerequipment 178,994 11,609 5,275 5,276 12,565 11,184 232 904 163,999 14,421 5,071 6,628 12,737 14,655 191 1,438 49 80 809 535 4,809 869 608 9,712 2.018 10.469 32.790 11.470 3,114 5,484 29,644 1,920 17,028 30 1.104 366 5.491 979 665 11,230 800 10,814 31,335 15.159 3.769 5.640 6,277 1,440 13,380 1,402 3,819 333 4,767 583 340,072 355,898 Other Dilapidations expenses 123.739 Totsl resources expended 340,072 479,637 Net expenditure 178,3001 {49,4471 This page doe5 not form part of the statutory financial statement5