Registered number.. 00206877 Charity number= 206655 THE GIRLS, BRIGADE ENGLAND AND WALES IA Company Limited by Guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) CONTENTS Page Reference and administrative details of the company. it5 Trustees and advisers Chair's Statement Trusteès, report 4-12 Independent audltor's report on the financ5al statements 13-17 Consolidated statement of financial activities 18 Consolidated balance sheet 19-20 Company balance sheet 21-22 Consolldated statement of cash flows 23 Notes to the financial statements 24-53
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021 Trustee5 Ms C Boxall lappointed 15 August 20211 Mrs S Claydon (resigned 6 March 20211 Mrs C De Beger Mrs C Fanawopo (appointed 22 February 20211 Miss H Flint lappointed 22 February 20211 Mrs J Greengr355, Chair Mrs H Hepworth (resigned 4 August 20211 Mrs S Hall (appointed 22 February 20211 Dr A Heaford Iresigned 30 October 20211 Mrs E In51ey Mrs S Parkin lappointed 6 November 20211 Company reglstered number 00206877 Charlty reglstered number 206655 Registered office Cliff College Calver Hope Valley Derbyshire EI 8A2 Company secretary Mrs Julie Murdv Senior management team Mr5 Julie Muidy, Director Miss Catherine Burt, Assistant Director & Communications Manager Mr Alan Carr, Finance Manager Independent auditor BHP LLP Chartered Accountant5 2 Rutland Park Sheffield SIO 2PD Bankers The Co-operative Bank plc 4th Floor 9 Piescot Street London EI 88E Solicitors Anthony Collins 134 Edmund Street Birmingham B3 2ES Page I
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 Investment managers Epworth Investment Management Limited 9 Bonhill Street London EC2A 4PE Page 2
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) CHAIR'S STATEMENT FOR THE YEAR EIVDED 31 DECEMBER 2021 The chair presents her staternent for the year. 2021 began with the country in lockdown due to the COVID-19 pandemic. Despite the challenges that the pandemic has presented, The Girls. Brigade England & Wales IGBI has continued to raise hope among this generation of girls and young women who now more than ever need atce55 to opportunities that support well-being and encourage self-confidence, self-worth and offer the stability of re8ular weekly activities, whether face-to-face or online. The year hasn't been without its challenges, and we have seen a number of groups close, and our numbers of members reduce a5 a direct result of the pandernic. The pandemic ha5 rneant that 50rne of our partner churches have closed and seen people reassess how they use their time. This has presented financial challenges to the organisation as we have sought to reduce the financial impact on our members whilst continuing to provide the services they require. We have continued to look for fundin& although this has been challengine during the past year. and to look at ways to improve our financial sustainability. We have been extremely grateful to the donations which have been rnade to support the work of GB and for the COVID-19 Support Grant which were received in 2020, but supported direct costs during January to March this year. This year has seen the introduction of a new database, GB Manager. which enables G8 centrally to support leader and training registrations and DBS cornpliante, a5 well a5 SUPPOrting administrative function5 for our local community groups. The database will help us to be more responsive and efficient in our sUPPOrt of leaders and provide GB with accurate and up-to-date information about its membership. None of our work would be possible without the amazing volunteers who week in and week out work among gir15 and voung women from all backgrounds and abilities, helping them to discover life in all its fullnes5. They have continued to be flexible and adaptable during a changing landscape whilst empowering girls and young women to play an active role amongst their peers. community, church. and the world. They have provided consistent and positive role models to the girls and young women in their care during a time of significant impact for young people. We celebrate and tommend them for their commitment and dedication. The pandemic has helped to support new ways of working and we've continued during 2021 to deliver training and equipping online through a network of volunteer trainers. This is enabling GB to look at new models of training delivery. We've a150 been able to hold online retreat5 for leaders which have given Space and time to reflect and meet with God in arnong5t the bu5ynes5 of life. We continue to advocate for, and with, girls and young women on the issues that matter to them, whether that's been through GB'S online resource koko, through the Esther Collective podcasts or through speaking to the Christian media about the i55ues affecting gir15 and young women. Whi15t undoubtedly the impact of COVID-19 will continue into 2022, the Board are cornmitted to looking forward and will be developing a new five-year strategy during the year to ensure that GB can continue to be a safe, relevant, fun, and affordable place for girls to meet. One which will raise up a new generation of women leaders for whom God is at the centre Of all they do. 22 L.I.46 GMT411 Mrs joanne Greengrass Chair Date.. Aug 19, 2022 Page 3
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 The trustees present their annual report together with the audited financial statements of the company for the year to 31 December 2021. The annual report serves the purposes of both a trustees, report and a directors, report under company law. The trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provision5 of the Statement of Recornrnended Practice ISORPI applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 published in October 2019. This IS the annual report of Girls, Brigade England & Wales also operating under the name of Girls, Brigade Ministries. Since the group and the company qualify as small under section 383 of the Companies Act 2006, the Group Strate8lC Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors. Report) ReEulations 2013 has been omitted. Objettives ond tsrtivities a. Our purpose and activities Girls. Brigade England & Wales IGBEW/GB England & Wale5/GBI operating as Girls, Brigade Ministries IGBMI has a vision to see Lives und communities tronsformed und enriched t7s individuuls seek. serve t7ndfolltswJesus Christ. We primarily work among girls and women, and in a way that we believe reflect5 our Christian etho5'. Relational in the way in which we work together as teams and among those with whom we work Responslve to the needs of all whom we serve Rèlevant to the culture and Context of today's communities. The GB England & Wale5' Network is also a part of Girls, Brigade International IGBII, sharing in the world-wide vision to see Girls, lives transformed.. God s world enriched. b. Our actlvltles to dellver publlc beneflt The trustees confirm that they have had regard to the Charity Commission's guidance on public benefit. The Christian values upon which we base our work are of significant benefit to the whole society. GB is outward-looking and concerned with the transformation of society for the better. Our work among girls and women is sustainable, holistic and life-enriching, committed to enabling them to discover and We work from, and share, a Christian eth05 and accept the right of individuals to have differing views and beliefs, or no belief. The strategies employed to achieve the tharity's aims and objectives are= Partnership with churches to provide holistic mission amon8 girls, children and youn8 wornen Equipping for the church in mission skills and understanding Advocacy for and with girls, children and women Empowerment of girls, children and women towards Christian discipleship. This four-fold strategy is the basis of the group's development plan and informed our sustainability plan for 2019-2022. Page 4
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 Objectives and artivities Icontinuedl GBM puts these strategies into action through four Major areas of activity,. the establishing and nurture of local community groups (primarily for girls and young women), the equipping and resourcing of volunteer leaders. and the provision of relevant programme, resources and activities, and the provision of a space for new, relevant initiatives that contribute to GBM'S vision and objectives, to be pioneered and e5tabli5hed. Our key activities this year are described below and very much focus on the transformation of lives and communities cross England and Wales. c. Establishin8 and nurture of local community group5 GB continues to deliver sustainable local groups for 4-8s, 7-Ils, 10-14s, and 13-185 for girls Iprimarilyl run in partnership with local churches across England and Wales. Around 5,000 children and young people are members of these groups with over 2,000 volunteer leaders supp(>rting them. In some areas, where there is no provision for boys, GB takes boys in trust. These groups provide rewarding, stretching and positive opportunities, through which girls and young women grow and develop in confidence, resilience, well-being, and life skills, whilst developing strong friendships, a sense of belonging and having great fun along the way. The innovative programme materials explore current cultural i55ue5 in ways that are relevant to the ages of our members. GB members may also engage in a structured leadership programme, which encourages leadership, communication. and team-working skills. They can also take part in the Duke of Edinburgh's Award Scheme with 28 young people reteiving awards, 11 at Gold level, 7 at Silver level and 10 at Bronze level, de5Plte operating under COVID-19 restrictions. GB'S International Queen's Award that encourages resilience, social mixin8 and innovation has been awarded to 5 young women over the year. d. Equlpplng and resourclng volunteer leaders Much of the work of the empltsyed staff team at GBM'S Supp(>rt Centre is focused on the support and resourcing of the 2,500 plu5 volunteer GB leader5 who give their time, energy, skills, and Christian experience to girls in local areas around England and Wales. This support work has always been devolved to local branch leaders, and it is with this group that the Support Centre has most involvement. The Support Centre team provide5 conferences, events, telephone support and resource materials to help the organisational. spiritual and youth work skills development of GB leaders and groups. Additionally, and importantly, the Support Centre team maintains a GB leader and groups, database. oversees the registration of leaders, and ensures ppropriate standards of training and safeguarding are maintained throughout the charity. During 2021 we Continued to deliver training and equipping online and around 800 training and equipping spaces have been filled, ensuring that leaders rernain up-to-date with core skills such as safeguarding and residential event training and that new leaders continue to be trained and onboarded. We have also delivered training to equip leaders to reflect on how to lead and deliver our prograrnme in a thanging context, to consider rhythms of faith and looking at mental health. The annual subscription paid to GB by local members and groups is the main source of income for GB England & Wales and is used for infrastructure and staffing costs of the charity, including the employed teams, work to develop leadership resourtes and programme materials. Building on the mission trainin& which GB delivered with the Methodist Church in previous years, we have continued to look for further opportunities for partnership with churches regarding mission equipping, with equipping events being offered with the Methodist Well Network and through the Boost Conference. Page 5
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 Objectives and artivities Icontinuedl e. Programme and actlvities During the early part of the year the pandemic restrictions meant that G8 groups had to be able to offer programme both online and in per50n. With the support of a DCMS Coronaviru5 Support grant, the GB staff team. working together with key volunteers, wa5 able to make new programme materia15 available during the year, which enabled groups to offer a blended approach to deliver activities safely during the pandemic. GB worked alongside other uniformed youth organisations, through the Youth United Ftsundation, and with the National Youth Agency to update the guidance for resuming face-to-face activities as government guidance chan8ed, tO8ether with adaptable risk assessments to ensure face-to-face activities and online activities were conducted in a safe and secure environment, adhered to COVID-19 guidelines, and met safeguarding requirements. f. GB Ministriès, initiatives koko (Keep on Keeping ON) 15 GBM'S award-winnin8 online rninistry, which seeks to reach a new 8eneration of young women. Its regular blogs focus on addressing issues affecting teenage girls. Throughout the year a group of GB'S 18-30s leaders have written blogs and shared their experiences in this way. In terms of leadership and faith development amoN8 18-305 women exploring integrity, faith, and purpose, our first Esther Collective podcasts were launched. Despite the impact of the pandemit, more than 50 women leaders attended an online retreat during 2021 which encoura8ed them to grow a5 disciples, grow as teams, and take time to be refreshed in their roles as volunteer leaders. Achlevements undperfomiance a. MaSn achlevements of the charStable company The provision of quality, fun and meaningful programme and activity is the backbone of GB'S 5UStainable and life- transforming mission among children. Despite the pandemic, once again this year GB has provided on average three hour5 of direct children's and youth activity per week for 40 weeks in the year amongst 1,400 groups of local girls and young people. Over 100 attained awards in youth leadership. around 240 young people took part in residential activities, 29 new members were registered to take part in the Duke of Edinburgh's Awèrd Scheme through GB with 12 receiving awards during the year, de5Plte the impact of COVID on activities, and 13 young wornen completed GB'S own Queen's Award, which is GB'S highest award. Two further sets of blended programmes for delivery online, @Home or in person were provided during the first quarter of the year. Mission equipping remained a high priority a5 part of the Build Hope initiative, with 390 attendee5 at our national leadership and equipping conferences which were held online during the year. GB ha5 continued to respond to girls, issues and has featured in publications by Premier Christianity and Youth as well as speaking out on UCB, Premier and TWR radio. During the year we launched our new database. GB Manager, which supports key support centre functions around leader registrations and Compliance but has additional functionality for local groups to maintain rnember5hip records and streamline administrative functions. During the year more than 300 leader5 were trained in the use of the database and began to use its functionality. Page 6
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 Achievement5 and performance Icontinuedl We have also supported our groups to look at ways to grow their membership and volunteer numbers through provision of the Growing GB resource which provided practical ideas for recruitment and awareness raisin& as well as a social media asset pack and other publicity resources. Training in how to Use the resources was provided at our conferences and online work5hop5 and groups have Shared the positive impart that the resources have had in term5 of growth in numbers. Flnanclol revlew a. Flnanclal revlew The deficit for the year was £34,72812020.' surplus of £56,496 - including a pri(>r year adjustment of £5,745) made up of surplus of £84,136 12020.. £46,844) from unrestricted fund5 and a deficit of £118,864 12020.. £9,652 surplus) from restricted funds. Funds total £660,89512020'. £695,623 after a prior year adjustment of £5,745) comprising of unrestricted funds of £159,32612020: £61,730) and restricted funds of £501.56912020.' £633.8931. Once again GB'5 income has largely been drawn from membership subscription5, which for the 12-month period to 31 December 2021 was £214,71812020- £316,577), but this has been augmented this year through the DCMS coronavirus funding which included the period to end of March 2021. The provision of grants shows the value placed upon the work of GBM externèllv. As a charity we're also grateful to individual donors who support our mission either through one-off donations or through regular givine to the charity and have been pleased to see those connected to GB respond to the impact of COVID-19 on our income, as well as those who took up our'coffee eup challenge, increasing the number of regular don(>rs to our work. Steps have continued to be taken to address the funding gap during the year included reducing overheads and staff costs and realigning roles and responsibilities. The Board has closely monitored the impact of COVID-19 and delivery against GB'5 finances via regular reporting. b. Investments powers and policy The trustees, having a keen awareness of the need for GB to balance operational liquidity and stable growth of investments, benefited from the services of Epworth Investment Management Service again this year. Aims and parameter5 for the porrfolio are well established, and we receive a quarterly performance report to enable timely monitoring and control of this important issue. The aims and parameters for the year were established in October 2002 for unrestricted funds as follows.. To achieve a balance of capital growth and current income. Investment pararneters are set for thi5 as follows.. Equities150-70%1,. Fixed interest130-50%1. Some funds were kept in interest-bearing deposlt accounts to provide actess as needed for cash flow management. Page 7
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 c. Goin8 concern The trustees are aware of GB'S financial position. Steps have been taken to address the funding gap in previous years which have included reducing overheads and staff costs and liquidating assets previously held in property. During the year GB has Continued to review its finances, making decisions to not fill posts a% they became vacant and reducing other costs where appropriate. Due to the reduction in services needed when groups were unable to rneet, GB was able to take advantage of the government's job retention scheme. The Board will be reviewing its strategy during the early part of 2022 to ensure that it tan take steps towards a more sustainable future and will be looking at changes to working to provide economies and efficiencies. The trustees have prepared forecasts of income and expenditure and cash flow for a period of 12 months from the date of pproving these financial statements, which show5 the group has sufficient funds to be able to continue in operational existence. These forecast5 are based on assumptions which continue to be uncertain due to the COVID-19 pandernic. The trustees believe that their forecasts for the group have been prepared on a prudent basis and have been subject to realistic sensitivity checks. It is for this reason that they believe it is appropriate to prepare the financial statements on a going concern basis. d. Reserves policy Reserves are needed to bridge the gap between the spending and receiving of income and to cover unplanned emergency expenditure. The trustees consider the ideal level of reserves at 31 December 2021 should be in the range of three to six months Cover of annual Charitable expenditure which gives 3 target of £89,000 to £178,000. Defined by the Charity Commission as unrestricted funds available to spend on the general purposes of the charity, but not yet spent. committed, or designated, the free reserves held by GB England & Wales at 31 December 2021 comprised the following-. Total consolidated funds per Balance Sheet IGroupl Less= Restricted funds Pension reserve- unrestricted funds Fixed assets-unrestricted funds 660,895 1501,5691 29,872 117,8081 Free reserves 171,390 e. Grant-making funds The Holcot Fund (Matilda Alice Hubbard Trust 20011 was established following the sale, in 2001. of a property IHolcotl originally donated to GB by Matilda Alice Hubbard. Within the terms of the Trust, the criteria ftsr grant support are to provide or a5SlSt in the provision of holiday or residential event accommodation for rnembers to as51St in their training. Grants awarded from this trust are administered centrally, through a written application proces5. An annual report of applications and awards is made to the trustees due to the impact of COVID-19 on activities, no awards were given in the year. Page 8
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 f. Plan5 for future periods As GB transitions into 2022 it will continue to Seek, Serve and Follow Christ. Our focus will be on recovery and supporting existing groups to grow by attracting new members and volunteers. as well as supporting new church mission partnerships to emerge. The trustees will be seeking to develop a new five-year strategy which will support growth and the future sustainability of the organisation. We will continue to grow strong foundations through continued development of the GB Manager database which will help to make administrative processes more efficient and effective for volunteers and the staff team and improve our governance around safe recruitment of volunteers. A review of trainin8 requirements and delivery options will be undertaken during the year to identify way5 to ensure that our training constantly reflects current practice and to make the most of our digital solutions and skills of our volunteers. Structure. govemunce ond management a. Govèrning document The Gir15' Brigade England and Wales is a charitable company limited by guarantee, governed by its Memorandum and Articles of Association dated July 2017. It is registered as a charity with the Charity Commission. Members of the Girls, Brigade England & Wales Board are the Company Members and, in the event of the Company being wound up, the liability of each member is limited to a maximum of £1. b. Appointment of Trustees GB is governed by a board of trustees who serve for a three-year period renewable for one further, consecutive, term. c. Recruitment and training of Trustèes To maintain a mature and well-equipped trustee board, information about the role, responsibilities and skills needed for board membership is made available to all GB members, and externally, when vacancies arise. Once a trustee has been appointed, they receive induction training. This is the responsibility of the leadership staff team and involves peer support. Induction covers issues such as the role5 and responsibilities of trusteeship and introduction to the strategic and spiritual objectives of the organisation. Further training is offered on an ongoing basis. Members of the board are provided with relevant periodicals regarding their role and encouraged to subscribe to good governance practice journals and websites. In addition, the board members regularly deditate time to strategic direction and reflection. Page 9
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 Structure. 8overnance and mana8ement Icontinuedl d. Organlsation The board comprises a maximum of 10 trustees. Membership is determined as follows.. Up to four representatives elected by the GB England & Wales Network Executive. Up to six other persons, independent of G8 make up this number. The board meets three times in the year, although other meetings may be called if required, and work corporately to govern the movement and appoint standing groups for specific purposes. Currently the standing 8roups are GBEW Network Executive, personnel, finance, and risk. Each of these groups look at their areas of responsibility in detail and report to the board during the year. The director of Girls, Brigade Ministries 15 appointed by the Board to manage day-to-day operation5 of the group charity. This person has delegated authority for strategic and operational matters including finance, employment, and activities in pursuit of GB'S strategic Eoals. e. Related parties and to-operation with other organisations None of the trustees receive remuneration or other benefit from their work with the charity. Any connection between a trustee or senior manager of the charity with an organisation used by the charity must be disclosed in the same way as any other contractual relationship with a related party. No such transactions were reported within this period outside of the group as detailed in note 32. f. Fundraising Standards information Girls, Brigade England & Wales is not currently registered with the Fundraising Regulator. During the year we have not appointed any professional fundraiser to support the work of the charity. GB is registered with Give as You Live and our supporters are able to raise donations for our work through this. GB is also registered with Amazon Smile and Facebook. During 2018 we implemented processes to ensure that we were compliant with GDPR ensuring that friends and members can indicate their preference including whether they can be contacted for fundraising purposes. We have again this year entouraged those connected with GB to participate in the 'coffee tup, challenge and become regular donors to our work. We have received no cornplaint5 in relation to fundraising activities. 8. Pay policy for senior staff The board of directors. who are the charity's trustees. and the senior management team comprise the key management personnel of the charity in charge of directing and controlling, running, and operating GB on a day-to-day basis. All directors give their time freely and no director received remuneration in the year. Details of directors, expense5 and related party transactions are disclosed in note 15 and note 32 to the accounts. The pay of the senior staff is reviewed annually and normally increased in atcordènce with Cost of living/inflation levels. In view of the Nature of the charity, the directors benchmark against pay levels IN other Christian charities of a similar nature and size, and similar roles in the geographic area of the registered office. Page 10
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 Structure. 8overnance and mana8ement Icontinuedl h. Rlsk management The trustees have a risk management strategy, which comprises.. An annual review of the principal risk5 and uncertaintie5 that the charity face5; The establishment of policies, systems and procedures to mitigate those risks identified in the annual review,. and The implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise. This work has continued to identify that financial sustainability and the impact of COVID-19 have been the major financial risks for the charity. A key element in the management of financial risk has been a regular review of available liquid funds to settle debt% as they fall due, regular attendance to bank reconciliation and other financial management disciplines, active management of debtor and creditor balances to ensure sufficient workin8 capital by the charity, and the strict control of expenditure. Attention has also been focused on management of non-financial risks arising from issues such as COVID-19, safeguarding and first aid. COVID-19 secure risk assessmeNt5 were updated to reflect change5 in governrnent guidance for those working at the GB Support Centre during 2021, as were the good guidance and risk assessments for the local community groups for face-to-face and online delivery. The local group risk assessments continued to be approved by the local partner church and GB nationally to ensure the safety of volunteers ènd rnembers. Updates to key policies and procedures were released in March 2021. Two members of the leadership team have completed Designated Safeguarding Lead training with the NSPCC and further changes to the code of Conduct and the introduction of guidance for declaration of relationship and strengthening of guidance around position5 of trust will be introduced in 2022. Page 11
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 Statement of Trustees, responsibilities The trustees Iwho are also the directors of the charitable company for the purposes of company lawl are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Atcounting Practice). Company law requires the trustees to prepare financial staternent5 for each financial year. Under company law, the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and the parent charitable company and of their incoming resources and application of resources, including their inctsme and expenditure, for that period. In preparing these financial statements, the tiustees are required to.. select suitable accounting policies and then apply them consistently,. observe the methods and principles of the Charities SORP 2019 IFRS 1021,. make judgment% and atctsunting estimates that are reasonable and prudent,. state whether applicable UK Accounting Standard5 have been followed, subject to any material departures disc105ed and explained in the financial statement5; prepare the financial statement5 on the goin8 concern ba515 unles5 It 15 inappropriate to presume that the group and parent charitable company will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the group and the parent charitable company and enable them to ensure that the financial staternent5 comply with the Companie5 Act 2006. They are 3150 responsible for Safeguarding the a55et5 of the group and the parent charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Olselosure of Informatlon to audltor In 50 far as the trustees are aware.. there is no relevant audit information of which the charitable group's auditor is unaware, and the trustees have taken all the steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. Auditor The auditor, BHP LLP, ha5 indicated their willingne55 to continue in office. The designated trustees will propose a motion reappointing the auditor at a meeting of the trustees. Approved by order of the members of the board of trustees and signed on their behalf bv.. Mrs J Greèngrass Date- Aug 19. 2022 Page 12
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS AND TRUSTEES OFTHE GIRLS, BRIGADE ENGLAND AND WALES Oplnlon We have audited the financial statements of The Girls. Brigade England and Wales (the 'parent charitable company'l and its 5ub5idiarie5 Ithe'group'l for the year ended 31 Decernber 2021 which cornprise the con501idated statement of financial activitie5, the consolidated balance sheet, the cornpany balance sheet, the consolidated statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, Iunited Kingdom Generally Accepted Accounting Practice). In the opinion the financial statements.. give a true and fair view of the state of the group's and parent charitable company's affairs as at 31 December 2021 and of the group's incomiN8 resources and application of resources, includin8 Its income and expenditure for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011. Basls for oplnlon We conducted the audit in accordance with International Standard5 on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those Standards are further described in the auditor responsibilities for the audit of the financial statements section of the report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to the audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled the other ethical re5pon5ibilitie5 in accordance with these requirernent5. We believe that the audit evidence we have obtained 15 sufficient and appropriate to provide a ba515 for the opinion. Concluslons relatlng to golng concern In auditing the financial statements, we have concluded that the directors, use of the going concern basis of accountinE in the preparation of the financial statement5 is appropriate. Based on the work we have performed, we have not identified any material uncertainties relatin8 to events or conditions that. individually or collectively, may cast significant doubt on the group and parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our respon5ibilitie5 and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Page 13
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS AND TRUSTEES OFTHE GIRLS, BRIGADE ENGLAND AND WALES ICONTINUEDI Other Informatlon The other information comprises the information included in the trustees. report other than the financia1 statements and the Auditor's Report thereon. The trustees are re5pon5ible for the other information contained within the trustees, report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in the report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and. in doing so, consider whether the other information is materially inconslstent with the financial statements or the knowledge obtained in the course of the audit, or otherwise appear5 to be materially misstated. If we identify such material incon5iStencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. OplnSons on other matters prescrlbed by the Companles Act 2006 In the opinion, based on the work undertaken in the course of the audit= the information given in the trustees, report (incorporating the directors, report) for the financial year for which the financial statements are prepared is consistent with the financial statements,. and. the directors, report has been prepared in accordance with applicable legal requirements. Mattèrs on which we arè rèquired to report by exception In the light of the knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors, report. We have nothing to report in respect of the following matters in relation to which Companies Act 2006 and the Charities Act 2011 requires us to report to you if. in the opinion.. the parent charitable company has not kept adequate and sufficient accounting records, or returns adequate for the audit have not been received from branches not visited by us,. or the parent charitable company's financial statements are not in agreement with the accounting records and returns,. or certain disclosures of directors. remuneration specified by law are not made.. or we have not received all the information and explanations we require for the audit,. or the trustees were not entitled to prepare the financial statements in attordance with the small companies, regime nd take advantage of the small companies, exemptions in preparing the dirertors, report and from the requirem8nt to prepare a strategic report. Page 14
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS AND TRUSTEES OFTHE GIRLS, BRIGADE ENGLAND AND WALES ICONTINUEDI Responslbllltles of trustees As explained more fully in the trustees. responsibilities statement, the trustees (who are also the directors of the parent charitable company for the purposes of company lawl are responsible for the preparation of the financial Statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statement5, the trustee5 are re5pon5ible for a55e55ing the group and parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or parent charitable company or to cease operations, or have no realistic alternative but to do so. Page 15
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS AND TRUSTEES OFTHE GIRLS, BRIGADE ENGLAND AND WALES ICONTINUEDI Audltor responslbllltles for the audlt of the flnanclal statements We have been appointed auditor under the Companies Act 2006 and section 151 of the Charities Act 2011 and report in accordance with those Acts. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error. and to issue an Auditor's Report that includes the opinion. Reasonable assurance 15 a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISA5 IUKI will always detect a material misstatement when it exists. Misstatement5 can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are in5tance5 of non-compliance with law5 and regulations. We design procedures in line with the responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which the procedures are capable of detecting irregularities. including fraud is detailed below.. We gained an understanding of the legal and regulatory framework applicable to the group and the sector in which it operates, and considered the risk of such regulations, including fraud. We designed audit procedures to respond to the risk. We focused on laws and regulation5 relevant to the group which could give rise to a material mi55tatement in the financial statements. Our testing included discussions with management, trustees, and those staff with direct responsility for the compliance of laws and regulations. We also reviewed legal expenses. We addressed the risk of management override of internal controls, including the testing of jouina15 and review of the nominal ledger. We evaluated whether there wa5 evidence of bias by rnanagement or the trustees that represented a risk of material misstatement due to fraud. Because of the inherent lirnitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material rnisstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also 8reater regarding irregularitie5 occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of the responsibilities for the audit of the financial statements is located on the FRC'S website at.. www.frc.or auditorsres onsibilities. This description forms part of the Auditor's Report. We have been appointed auditor under the Companies Act 2006 and section 151 of the Charities Act 2011 and report in accordance with those Acts. Page 16
THE GIRLS' BRIGADE ENGLAND AND WALES
(A Company Limited by Guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF THE GIRLS' BRIGADE ENGLAND AND WALES (CONTINUED)
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's members and its trustees those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, and the charitable company's trustees as a body, for the audit work, for this report, or for the opinions we have formed.
Jane Marshall (Senior Statutory Auditor)
for and on behalf of
BHP LLP Chartered Accountants Statutory Auditor 2 Rutland Park Sheffield SlO 2PD
Date: Aug 19, 2022
Page 17
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES IINCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 DECEMBER 2021 As restated Total funds 2020 Unrestricted funds 2021 Restricted funds 2021 Total funds 2021 Note Incomè from- Donations and legacies Charitable activities 83,092 224,742 56,484 1,915 19,361 17,102 2,746 100,194 227,488 56,484 2,697 19,361 169,557 341.720 Other trading activities Investments 33,752 4.971 782 Other income 35,813 Total income 385,594 20,630 406,224 585,813 Expendlture on: Raising funds Charitable activities 79,177 226,816 1,928 130,009 81,105 356,825 47,263 489.495 io Total expendlture 305,993 131,937 437,930 536.758 Net incomellexpenditurel before net galnslllossesl on Investments Net gains/l1055esl on investments 79,601 4,535 1111,3071 17,5571 131,7061 13,0221 49.055 7,441 18 Net incomellexpenditurel Transfers between funds 84,136 13,459 1118,8641 113,4591 134,7281 56,496 24 Net movement In funds 97,595 1132,3231 134,7281 56.496 Recontiliation of funds.. Total funds brought forward as previouslv stated 55,985 5,745 633,893 689,878 5,745 659,127 120,0001 Prior year adju5trnent Total funds brought forward as restated Net movement in funds 61,730 633,893 1132,3231 695,623 134,7281 639.127 97,595 56,496 Total funds carried forward 159,325 501,S70 660,895 695,623 The Consolidated statement of financial activities includes all gains and losses recognised in the year. Page 18
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) REGISTERED NUMBER.. 00206877 CONSOLIDATED BALANCE SHEET AS A T31 DECEMBER 2021 As restated 2020 2021 Note Fixed assets Intangible assets Tangible assets Investments 16 14,583 3,225 176,939 26.250 17 5,451 179.961 18 194,747 211.662 Current a55ets Stocks 19 27.597 37,814 70,742 635,965 Debtors 20 73.340 480,641 Cash at bank and in hand 581.578 744,521 Creditors.. amounts falling due within one year 21 198.9391 1166,4871 Net current 3$5et5 482,639 578,034 Total assets lèss current liabilities 677,386 789.696 Creditors.. amounts falling due after more than one year 22 116,4911 194.0731 Total net assets 660,895 695.623 Charity funds Restricted funds 24 501,570 633,893 Unrestricted funds General funds 24 105.700 83.497 98,212 86,519 Revaluation reserve Unrestricted funds excluding pension liabilitv Pension reserve 24 189.197 129.8721 184,731 1123.0011 24 Total unrestricted funds 24 159,325 61,730 Total funds 660,895 695,623 Page 19
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) REGISTERED NUMBER.. 00206877 CONSOLIDATED BALANCE SHEET ICONTINUEDI AS A T31 DECEMBER 2021 The Trustee5 acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Mrs J Greengrass Date: Aug 19, 2022 The notes on pages 24 to 53 form part of these financial statements. Page 20
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) REGISTERED NUMBER.. 00206877 COMPANY BALANCE SHEET AS A T31 DECEMBER 2021 2021 2020 Note Fixed assets Intangible assets Tangible as5et5 Investments 16 14,583 3,225 176,940 26.250 5,451 179.962 17 18 194,748 211,663 Currènt assets Stocks 19 1,732 Debtor5 20 152,915 420.059 143,165 589,424 Cash at bank and in hand 573.662 734,321 Creditors.. amount5 falling due within one year 21 191,0231 1162,0981 Net Current assets 482,639 572.223 Total assets less current Ilabllltles 677,387 783.886 Creditors.. amounts falling due after more than one year 22 116,4911 194.0731 Total net assets 660,896 689,813 Charity funds Restricted funds 24 501,570 633.893 Unrestricted funds Unrestricted funds excluding pension liabilitv (including revaluation reserve of £83,497 12020.. £86,519) Pension reserve 24 170.552 129.8721 178,921 1123.0011 24 Total unrestricted funds 24 159,326 55,920 Total funds 660,896 689,813 Page21
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) COMPANY BALANCE SHEET ICONTINUEDI AS A T31 DECEMBER 2021 The charitable company ha5 taken advantage of the exemption allowed under section 408 of the Cornpanies Act 2006 and ha5 not presented it5 own statement of financial activities in these financial statement5. The company'5 net rrovement in funds for the year was £128,917112020- £44,362). The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting record5 and preparation of financial Statements. The financial statements have been prepared in accordance with the provisions applicable to entitie5 subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf bv.. Mrs J Greengrass Date: Aug 19, 2022 The note5 on page5 24 to 53 form part of these financial statement5. Page 22
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) CONSOLIDATED STATEMENTOF CASH FLOWS FOR THE YEAR EIVDED 31 DECEMBER 2021 As restated 2020 2021 Note Cash flows from operatlng actlvltles Net cash used in operating activities 27 1157.8591 10,663 Cash flows from Investlng actlvltles Dividends, interests and rents from investment5 Proceeds from the sale of tangible fixed assets Purchase of fixed assets 2.435 i) 4,971 13,4811 42.000 Proceeds from sale of investments Net cash provlded by Investlng actlvlt5es 2.535 43,490 Change In cash and cash equlvalents In the year 1155.3241 54,153 Cash and cash equivalents at the beginning of the year 635.965 581,812 Cash and cash equiv31ents at the end of the year 28 480,641 63S,965 Page 23
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR EIVDED 31 DECEMBER 2021 General information The charitable company is a company limited by guarantee. The members of the company are the Trustees named on page l. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company. Accounting policies 2.1 Basis of preporfjtion oAfinqnciolstgtement5 The financial statements 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 issued in October 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. The Girls. Brigade England and Wales meets the definition of a public benefit entity under FR5 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. The Consolidated Statement of Financial Activities ISOFAI and Consolidated Balance Sheet consolidate the financial statements of the Group and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis. The Group has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Financial Activities in these financial statements. 2.2 Golng concern The group generated an overall Ioss for the period of £34,728 and at 31 Oecember 2021 the group had free reserves of £171,390. The trustees are aware of GB'S financial position. Steps have been taken to address the funding gap in previous years which have included reducing overheads and staff costs and liquidating assets previously held in property. During the year GB has continued to review its finance5, making decisions to Not fill p05ts as they became vacant and reducing other costs where appropriate. Due to the reduction in services needed when groups were unable to meet, GB was able to take advantage of the government's job retention scheme. The Board will be reviewing its strategy durin8 the early part of 2022 to ensure that it can take steps towards a more sustainable future and will be looking at changes to working to provide economies and efficiencies. The trustees have prepared forecasts of income and expenditure and cash flow for a period of 12 months from the date of approving these financial statements, which show5 the group has sufficient funds to be able to continue in operational existence. These forecasts are based on assumptions which continue to be uncertain due to the COVID-19 pandemic. The tTUStees believe that their forecasts for the group have been prepared on a prudent basis and have been subject to realistic sensitivity checks. It is for this reason that they believe it is appropriate to prepare the financial statements on a going concern basis. Page 24
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR EIVDED 31 DECEMBER 2021 Accountin8 policies Icontinuedl 2.3 Income All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable tan be measured reliably. The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the company has sufficient evidence that a Eift has been left to them Ithrough knowledge of the existence of a valid will and the death of the benefactorl and the executor 15 sat15fied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable. which will generally be the expected cash amount to be distributed to the company, can be reliably measured. Grant5 are included in the Con501idated Statement of Financial Aetivities on a receivable basis. The balance of income received for specific purpose5 but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is aetrued. Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Revenue for the trading subsidiary is recognised to the extent that it is probable that the economic benefits will flow to the entity and the revenue can be reliably rneasured. Revenue 15 measured a5 the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Income relating to the Coronavirus Job Retention Scheme is recognised in the period for which the funding is claimed. 2.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 15 classified by activity. The costs of each artivity are made up of the total of direct costs and shared costs, including sUPPOrt Costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activitie5 on a basi5 consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable tradine. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support cost5. Page 25
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR EIVDED 31 DECEMBER 2021 Accountin8 policies Icontinuedl 2.5 Interest recelvable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the group- thi5 is normally upon notification of the interest paid or payable by the institution with whom the funds are deposlted. 2.6 Taxatlon The company is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it rneets the definition of a charitable compariy for UK corporation tax purposes. Accoidingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. 2.7 Intangible G55ets and umortisGtion Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Amortisation is provided On intangible assets at rates talculated to write off the cost of each asset on a 5traight-line ba515 over its expected useful life. Amortisation is provided on the following basis- Website costs 2.8 Tangiblefixed ossets Gnd depretiation Tangible fixed a55ets are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition. under the cost model. tangible fixed aS5et5 are measured at cost les5 accumulated depreciation and any accurnulated impairment Ios5e5. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives. Depreciation is provided on the following ba5es'. Fixtures and fittings Computer equipment IO% per annurn 25% per annum Page 26
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR EIVDED 31 DECEMBER 2021 Accountin8 policies Icontinuedl 2.9 Investments Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and 5ub5equently measured at fair value at the Balance Sheet date, unle55 the value cannot be rneasured reliably in which case it is measured at cost less impairment. Investment gain5 and losses, whether realised or unrealised, are combined and presented as 'Gains/lLossesl on investments, in the Consolidated Statement of Financial Activities. Investments in sub5idiarie% are valued at tost less provision for impairment. 2.10 Stoclr5 Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. 2.11 Debtor5 Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.12 Cush ut bank und in hund Cash at bank and in hand includes cash and short-term highly liquid investments Wlth a short rnaturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.13 Llabllltles undprovlslons Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it ha5 received a5 advanced payment5 for the good5 or service5 it must piovide. Provisions are measured at the best estirnate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts. discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recogni5ed in the Consolidated Statement of Financial Attivities as a finante cost. 2.14 Fingnciol instruments The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loan5 which are subsequently rneasured at arnortised c05t Using the effective interest method. Page 27
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR EIVDED 31 DECEMBER 2021 Accountin8 policies Icontinuedl 2.15 Operotlng leases Rentals paid under operating leases are charged to the Consolidated Statement of Financial Activities on a straight line basis over the lease term. 2.16 Employee benefits ondpensions When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. The charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable. The charity also contribute5 to The Pensions Trust Growth Plan for its empltsyee5. This 15 in most respects a money purchase arrangement, but does include certain guaranteed benefit elements. The Plan is a multi- employer scheme. Since the charity has entered into an agreement (the Recovery Plan that determines how each employer within the scheme will fund the overall deficit), the contributions paid are shown in the income and expenditure aetount. Under FRS 102, the fair value of the Commitment is reeognised. The calculation of their fair value of the commitment is subject to an assumption on the discount rate. The discount rate is determined by reference to market yields at the reporting date on high quality bonds. 2.17 Fund occountlng General fund5 are unrestricted funds which are available for use at the discretitsn of the Trustees in furtherance of the general objective5 of the Group and which have not been designated for other purpose5. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the Specific fund. The aim and use of each restricted fund 15 Set out in the note5 to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Critital attounting estimates and arèas of judgment E5timate5 and judgments are continually evaluated and are based ON historical experience and other factor5, including expectations of future events that are believed to be reasonable under the circumstances. Critical accounting estimates and assumptions.. The company make5 estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual result5. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. The commitment in respect of the Pensions Trust Growth Plan is subject to an assumption on the discount rate. Page 28
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR EIVDED 31 DECEMBER 2021 Income from donatlons and legacles Unrestrirted funds 2021 Restricted funds 2021 Total funds 2021 Total funds 2020 Donations and legacies Grants 83,092 3,121 13,981 86.213 13,981 56,987 112,570 83,092 17,102 100,194 169,5S7 Total 2020 51,457 118,100 169,557 Income from the Development of the Christian faith Unrestrlcted funds 2021 Restrlcted funds 2021 Total funds 2021 Total funds 2020 Subscription5 Activities and camp fees Annual meeting European fellowship income International office income 213,992 726 214.718 2.642 316,577 14.644 744 1.898 158 180 8,333 1,673 8.333 1.795 8,333 1.828 Other income 122 Totu12021 224,742 2.746 227.488 341.720 Total 2020 322,369 19.351 341,720 Page 29
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR EIVDED 31 DECEMBER 2021 Income from other tradlng actlvltles Incomè from non charitable trading artivities Unrestrlcted funds 2021 Total funds 2021 Total funds 2020 Trading income Charity trading income 55,073 1,411 55,073 1.411 32,683 1,069 56,484 56.484 33,752 Total 2020 33.752 33,752 Investment Income Unrestrirted funds 2021 Restricted funds 2021 Total funds 2021 Total funds 2020 Dividends received 1,915 264 2.179 518 3.644 1,327 Bank interest 518 1,915 782 2.697 4,971 Total 2020 3,644 1,327 4,971 Page 30
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR EIVDED 31 DECEMBER 2021 other Incomlng resources Unrestricted funds 2021 Total funds 2021 Total funds 2020 Coronavirus Job Retentic>n Scheme income 19,361 19,361 35,813 Total 2020 35,813 35,813 Expenditure on raisin8 funds As restated Total funds 2020 Unrestrirted funds 2021 Restricted funds 2021 Total funds 2021 Trading expenses Fundraising expenses 58,364 20,813 58.364 22.741 30.743 12,125 1,928 79,177 1,928 81.105 42,868 Total 2020 as restated 42,868 42,868 Page31
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR EIVDED 31 DECEMBER 2021 Expenditure on raisin8 fund5 Icontinuedl Other tmdlng expenses Unrestrieted funds 2021 Total funds 2021 Total funds 2020 Administration expenses 4,395 Total 2020 4.395 4,395 io. Analysis of expenditure on tharitable activities Summary byAund type Unrestrlcted funds 2021 Restrlcted funds 2021 Total funds 2021 Total funds 2020 Development of the Christian faith 226,816 130,009 356.825 489,495 Total 2020 351,784 137,711 489,495 Summary by expenditure type Total funds 2021 Total funds 2020 Staff tosts 2021 Depretiation 2021 Other tosts 2021 Development of the Christian faith 204,869 1,958 149,998 356.825 489,495 Total 2020 254,050 1,650 233,795 489,495 Page 32
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR EIVDED 31 DECEMBER 2021 5ummury by uctlvlty type Total funds 2021 Total funds 2020 Dlrect costs Support costs 2021 2021 Volunteer and Group Supptsrt Insurance and Insurance Administration 90,386 32,023 36,343 20,435 54,667 34,132 90,386 32.023 36,343 20.435 76,401 34.132 124,178 43,995 49,930 28,075 104,963 46,893 Programme Deliverv Programme Development Governance and Strategy Development Volunteer Equipping Subscription5 Communications and Media Presence 21,734 21,709 27,740 7,125 9,998 21,709 27.740 7,125 9.998 29,826 38,111 9,788 13,736 Networking Fundraising and Donor Management 334,558 21,734 356.292 489,495 Total 2020 471,742 17.753 489,495 The allocation of the costs between activities is based on the proportion of staff time spent on each activitv. Page 33
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR EIVDED 31 DECEMBER 2021 ii. Charitable activitie5 2021 2020 Rent and rates 29,533 8.428 28,161 2.864 29,341 8,824 34,357 7,941 Telephone and fax In5urance5 Printing, postage and stationary Loss on disposal of fixed a55et5 Computer costs Recruitment costs 169 40.082 153 30,168 213 Training costs Legal and profes5ion31 tosts Motor and travel costs 99 209 2,510 1,490 3,200 loo 241 Meeting costs International fees Subscription% Activities and camp costs Grant5 and donations 2,461 12.IS9 38,523 1.733 6,393 19,794 IS,599 4,269 The View costs Development of new groups Sundries 8,104 17.182 2,297 6,981 38,144 2,987 207 Bank charges and interest paid Development costs- programme Wages and 5al3ries Remeasurement of pension scheme National insurance 185,572 164.4941 13,550 5.747 234,383 3,524 14,040 Pension cost 5,627 Depreciation Governance costs (note 121 1,958 21.734 1,650 17,753 356.825 489,495 Page 34
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR EIVDED 31 DECEMBER 2021 12. Governance costs 2021 2020 Auditor and accountancy fees Accountancy fees- outsourced Trustees, and executives, travel and meeting costs 20.053 823 14,143 2,399 1,211 858 21.734 17,753 13. Net incomellexpenditurel Thi5 IS stated after charging.. 2021 2020 Depreciation of tangible fixed a55et5 owned by the charitable group Amortisation of intangible fixed assets Auditor's remuneration audit 1,958 11.667 1,650 8.750 15,250 4.6rx) 48,358 10,300 3.843 21,099 Auditor's remuneration non audit Operating lease payments 14. Audltor's remuneratlon The auditor's remuneration amounts to an audit fee of £15,25012020.. £10,300), and accountancy and VAT services of £4,60012020.. £3,843). 15. Staff costs Group 2021 Group 2020 Company 2021 Company 2020 Wages and salaries Social 5ecuritV Costs Contribution to defined contribution pension schemes 185.572 234.383 182.572 230.124 13.550 14,040 13.550 14,040 5,747 5,627 5,747 5,627 204.869 254.050 201.869 249.791 Page 35
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR EIVDED 31 DECEMBER 2021 15. Staff costs Icontinuedl The average number of persons employed by the company during the year was as follows.. Group 2021 No. Group 2020 No. Staff numbers- charitable activities io 12 No employee received remuneration èmountinE to more than £60,000 in either year. None of the trustees, nor any person connected to them, received any remuneration during the current or preceding year. 3 rnembers of the Trustee Board 12020- 11 received reimbursed travel expense5 amounting to £17412020.. £1501. The charity 15 heavily reliant upon the support of volunteer5 who give their time to the work of the Gir15' Brigade, which cannot be valued. The total amount of employee benefits, includinE employer's pension contributions and employers, national insurance, received by the senior management team 15 £95,44012020.. £95,401). The charity's senior management team are detailed on page l. Page 36
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR EIVDED 31 DECEMBER 2021 16. Intan8ible asset5 Group und company Website c0515 Cost At l January 2021 44,000 At 31 Decernber 2021 44,000 Amortisotion At I January 2021 Charge for the year 17,750 11,667 At 31 December 2021 29,417 Net book volue At 31 Decernber 2021 14,583 At 31 December 2020 26,250 Page 37
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR EIVDED 31 DECEMBER 2021 16. Intan8ible asset5 Icontinuedl Company Website Cost At I january 2021 35,000 At 31 Decernber 2021 35,000 Amortlsutlon At I january 2021 Charge for the year 8,750 11,667 At 31 Decernber 2021 20,417 Net book vulue At 31 December 2021 14,583 At 31 Decerrber 2020 26,250 Page 38
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR EIVDED 31 DECEMBER 2021 17. Tangible fixed asset5 Group and Company Fixtures and flttlngs Computer equlpmet)t Total Cost or valuutlon At l January 2021 Disposals 96,760 126.2401 124,000 176,9491 220,760 1103,1891 At 31 Decernber 2021 70.520 47,051 117,571 Depreciotion At I january 2021 Charge for the year On disposals 93.920 737 121,389 1,221 215,309 1,958 125.9721 176,9491 1102,9211 At 31 Decernber 2021 68,685 45,661 114,346 Net book vulue At 31 December 2021 1.835 1,390 3,225 At 31 December 2020 2,840 2,611 5,451 Page 39
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR EIVDED 31 DECEMBER 2021 18. Fixed asset investments Listed investments Group Cost or vulu¢7tion At l January 2021 Revaluations 179,961 13,0221 At 31 December 2021 176,939 Net book vulue At 31 December 2021 176,939 At 31 Decernber 2020 179,961 The historical cost of listed investments held in the group was £93,44212020.. £93.4421. Investments In $ubsidiary ompanie5 Listed investrnents Total Company Cost gr valuotion At l January 2021 Revaluation5 179,961 13,0221 179,962 13,0221 At 31 December 2021 176,939 176,940 Net book volue At 31 Decernber 2021 176,939 176,940 At 31 December 2020 179,961 179,962 The historical cost of listed investments held in the company was £93,44212020'. £93.4421. Page 40
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR EIVDED 31 DECEMBER 2021 Principal subsidiarie5 The following was a subsidiary undertaking of the company: Company number Prlnclpal actlvlty Class of Shares Holdlng GBEW Trading Limited 06039496 Sale of uniforms Ordinary loo% The financial results of the subsidiary for the year were.. In¢ome Expenditure ILo$sl forthe year GBEW Trading Limited 55,073 61,364 16,2911 119,3281 19. Stocks Group As restated 2020 Company As restated 2020 Group 2021 Company 2021 Finished goods and good5 for resale 27,597 37,814 1,732 20. Debtor5 Group 2021 Group 2020 Company 2021 Company 2020 Trade debtors 16,032 17,060 9.535 86.072 8,079 49.229 14,738 74.745 Amounts owed by group undertakings Other debtors 8,079 49.229 11,655 42.027 11,655 42.027 Prepayments and accrued income 73.340 70,742 152.915 143,165 Page 41
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR EIVDED 31 DECEMBER 2021 21. Creditors.. Amounts falllng due wlthln one year Group 2021 Group 2020 Company 2021 Company 2020 Pension liability Trade creditors 13.381 13.169 28,928 37.304 13.381 9.633 28,928 37.196 3,812 557 Other taxation and social security other creditors 3.214 2.168 3,713 557 3.214 2.168 Accruals and deferred income 67.007 95,985 62.627 91,605 98,939 166,487 91,023 162,098 Group Group 2020 2021 Deferred Intome Deferred income at I january 2021 Resources deferred during the year Amounts released from previou5 periods 78.653 45.823 178.6531 93,424 78.653 193,4241 Defvrred income at 31 December2021 45,823 78,6S3 The deferred income relates to events occuring in future periods and subscriptions received in advance. 22. Creditors.. Amounts falling due after more than one year Group Group 2020 Company 2021 Company 2020 2021 Pensitsn liability 16,491 94,073 16,491 94,073 23. Prior year adjustment There has been a prior year adjustment to correct the valuation of stock in the trading subsidiary, GBEW Trading Limited. The impact of the adjustment is an increase in net assets as at 31 December 2020 and a reduction in the deficit IN the year to 31 December 2020 of £5,745. Page 42
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR EIVDED 31 DECEMBER 2021 Statement of funds Statement of funds- current year As rÈstatÈd BalaThce at I January 2021 Transfers inlout Gainsl Balance at 31 1105sesl December 2021 Income Expenditure Unrestrictedfvnds General funds- charity Investment income re branches 111,250 330,521 1337,7581 21,016 125,029 14,5351 4.535 General funds- trading Revaluation reserve 113.0381 86,519 1123.0011 55,073 161.3641 119,3291 83,497 129,8721 13,0221 Pension reserve 93.129 61.730 385,594 1305.9931 13,459 4.535 159,325 Re5trictedfvnds Matilda Alice Hubbard fund 25.168 25,168 The Irene Bosworth Friendship Fund DCLG Grant 3,707 202 3,707 424 13.8111 4,033 DCLG Start Up Grants 19.372 175 15331 14,0331 14,806 175 SLF/YML Income YUF 4.039 184 13131 11,9281 3,726 I,oio DofE 2,754 Build Hope Branches. funds 793 793 479,451 17,876 148,4321 12.2371 113,4591 17.5571 427,879 Keep On Keepin On Bristol Development Project DCMS Covid 19 assistance Erant 2.618 381 25,040 11,5391 23,501 73,144 173,1441 633,893 20,630 1131,9371 113,4591 17.5571 501,570 Page 43
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR EIVDED 31 DECEMBER 2021 Statement of funds Icontinuedl Tot¢71 offunds 695.623 406,224 1437,9301 13.0221 660,895 Statement of funds- prior year As restated Balance at Gain51 31 December (Losses) 2020 As restated Balance at l January 2020 As restated Expenditure Transfer5 inlout Income Unrestricted funds General funds- charitv General funds- trading Revaluation 96,899 414,352 1383,4881 115,3691 11,1441 111.250 16,3241 32,683 139,3971 113,0381 reserve 71,150 1146,8391 15,369 86,519 1123.0011 Pension reserve 23,838 14,886 447,035 1399,0471 11,1441 61.730 Balance at Gains1 31 December ILos5esl 2020 Balance at l January 2020 Transfers inlout Income Expenditure Restrictedfvnd5 Matilda Alice Hubbard fund 25,492 13241 25,168 The Irene Bosworth Friendship Fund DCLG Grant 3,707 1,765 3.707 11,5631 202 DCLG Start Up Gr3nt5 48,977 129,60SI 19,372 SLF/YML Income YUF 175 175 4,54S 184 15061 4,039 184 DofE Build Hope Branches. funds 37,396 490,126 1,438 223 136,8261 135,9491 11861 793 36,689 1,366 120,0001 8,585 479,451 2,618 Keep On Keepin On Page 44
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR EIVDED 31 DECEMBER 2021 Statement of funds Icontinuedl Statement olfvnds- prloryear fcontlnuedj As restated Balance at I January 2020 As restated Balance at Gains/ 31 December (Losses) 2020 As restated Expenditure Transfers in/out Income Development Project DCMS Covid 19 assistance grant Tesco Gfant 10,436 15,3961 20,000 25.040 loo,000 soo 126,8561 15001 73,144 624,241 138,778 1137,7111 8,585 633,893 Total offunds 639,127 585,813 1536,7581 7,441 695,623 Matilda Alice Hubbard fund Matilda Alice Hubbard left a property to the charity in her will specifically for the purpose of providing a training and holiday home/camp for the use of charity. Subsequent to her death in 1932, the charity purchased an adjacent property and land and two propertie5 became known a5 Holcot" The property Wa5 501d during the year ending 31 March 2002 and the proceed5 relating to the original bequest were transferred into a specific restricted fund. Irene Bosworth Frlendshlp fund The Irene Bosworth Friendship Fund 1% to support leadership and training. DCLG Grant This fund is to help open new groups, increase existing groups and recruit and equip new leaders in specific geogiaphical Ioc3tions. DCLG Start Up Grants This fund is available to local new groups being established via the DCLG work. Groups may apply for one grant up to a maximum of £4,500 to financially Support the new group as it becomes established and self-sustaining. SLFIYML Income This fund is to help open new groups, increase existing groups and recruit and equip new leaders across the London area. Page 45
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR EIVDED 31 DECEMBER 2021 YUF The YUF Stronger Foundations grant was awarded through the Uniformed Youth Fund provided by the Department for Digital, Culture Media and Sport, administered by Youth United Foundation. The grant Wa5 given in order to fund work of key staff in developing Sustainability for GB rnovin8 forward. The initial tranche received in 2018 funded core posts to free up capacity to create a sustainability plan and work on redeveloping GB'S new group process. Further tranches in 2019 continued to fund core work on implementing the plan, as well as funding new digital infrastructure in the form of a new web51te and database. Alongside thi5, further funding under the banner of Reach, enabled GB to grow new and exi5tin8 groups. DofE The DofE Diamond Fund was launched by the Duke of Edinburgh's Award to celebrate its Diamond Anniversary. It airns to enable more disadvantaged young people to take part in the DofE Scheme. As a long-term licenced DofE partner, GB has been offering young people the opportunity to take part in the scheme for many years. This additional funding provided opportunities for more young people to take part through the funding of equipment and resource patk5. Bulld Hope The Build Hope Project, funded through a Methodist Connexional Grant. aims to Build Hope for girls and young women, for the local church, and for GB. Through the project, GB airns to.. Increase our engagement and partnership with local churches and extend the number of local groups that are delivered across England and Wales. Work with local churches to develop communities of 18-305 women looking to explore the Christian faith Help to increase the confidence of GB leaders and church members to share their faith at work, schtsol and in the local community. Consult with local churches to enable them to 'look out from the Rooftop, to identify the needs of the local communities and develop strategies to engage with and share the Ic>ve of God with those around them. Branches, Funds Branch funds are only available for use by the branches concerned and therefore are deemed to be restricted funds for the purposes of the financial statements. Keep On Keepin On Koko is a film and digital project for a target audience - teenage girls. It provides encouraging and constructive views on issues facing teenage girls, pointing them to support agencies on specific issues e.g. Self-Harm. The initiative also resources youth leaders, working alongside GBEW to release resources that atcompany films, for use in youth groups. Brlstol Development Project The Bristol Development Fund was set up by the Bristol Distritt of Girl%, Brigade England & Wale5 in fund a Development Worker to extend the outreach and mission of Girls, Brigade in the Bristol area bv Setting up new groups and new expressions of mission Encouraging more people to become volunteers within GB'S local community groups Increasing the number of children and young people who participate in GB'5 local community groups and activitie5 across the Bristol area. DCMS Covld 19 asslstance grant The DCMS Covid 19 grant Wa5 to mitigate the impact on GB nationally and locally. It enabled GB to produce resource5 to support online and blended delivery,. revise trainin8 materials and offer online training to volunteers,. support core cost to subsidise local group subscriptions. Page 46
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR EIVDED 31 DECEMBER 2021 Tesco grant The Tesco grant was a contribution towards the design cost of the GB@Home resources which were an immediate response to engaging with young people in the first lockdown. 25. Summary offunds Summary of funds- current year As $tated BalaThce at I January 2021 Transfers in/out Gainsl Balance at 31 1105sesl December 2021 Income Expenditure General funds 61,730 633.893 385,594 20,630 1305,9931 1131.9371 13,459 113,4591 4,535 17.5S71 159,325 501,570 Restricted funds 69S.623 406,224 1437.9301 13.0221 660,895 Summary of funds- prior year As restated Balance at l Januarv 2020 As restated Balance at Gains/ 31 December (Losses) 2020 As restated Expenditure Transfers in/out Incorne General funds 14,886 624,241 447,035 138,778 1399,0471 1137,7111 11,1441 8,585 61,730 633,893 Restricted funds 639,127 585,813 1536,7581 7,441 695,623 Page 47
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR EIVDED 31 DECEMBER 2021 26. Analysls of net assets between funds Analysis of nèt assets betwèen funds- current year Unrestricted funds 2021 Restrirted funds 2021 Total funds 2021 Tangible fixed assets Intangible fixed assets Fixed asset investments 3,225 14.583 3,225 14,583 56,524 200.423 198,9391 116.4911 120,415 381,155 176,939 581,578 198,9391 116,4911 Current assets Creditors due within one year Creditors due in more than one year Totul 159.325 501,570 660,895 Analysis of net assets between funds- prior year As restated Unrestricted funds 2020 As restated Total funds 2020 Restricted fund5 2020 Tangible fixed assets Intangible fixed assets Fixed asset investments 5.451 5.451 26,250 51.989 26,250 179.961 127,972 Current assets 238,600 1166.4871 194,0731 505,921 744,521 1166.4871 194,0731 Creditors due within one year Creditors due in more than one year Total as restated 61,730 633,893 695,623 Page 48
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR EIVDED 31 DECEMBER 2021 27. Reconclllatlon of net movement In funds to net cash flow from operatlng actlvltles Group As restated 2020 Group 2021 Net expenditure/lincomel for the year las per Statement of Financial Activities) 134.7281 56.496 AdJustmentslor.- Depreciation charges Amortisation charges ILossesl/gains on investments Dividends and interests from investments 1.958 11.667 1,650 8.750 17,4411 14.9711 3.022 12.4351 L055 ON the sale of fixed assets Decrease/lincreasel in stocks Ilncreasel in debtors IDecreasel/increase in creditors Pension deficit adjustments 10.217 12.5981 152.0011 193.1291 15691 138,2301 18.816 123,8381 Net cash (used in)/provided by open7ting ottivitiés 1157,8591 10,663 Analysis of cash and cash equivalents Group Group 2020 2021 Cash in hand 480.641 635.965 Tot¢71 cush andc¢75h equivalent5 480.641 635,965 Page 49
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR EIVDED 31 DECEMBER 2021 29. Analysls of changes In net debt At31 December 2021 At l January 2021 Cash flows Cash at bank and in hand 635,965 1155.3241 480,641 635,965 1155.3241 480,641 Penslon commltments Penslons Trust Growth Plan The company participates in the scheme, a multi-employer scheme which provides benefits to some 638 non- associated participating employers. The scheme is a defined benefit scheme in the UK. It is not possible for the company to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore it account5 for the scheme a5 a defined contribution 5cherne. The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension scheme5 in the UK. The scheme is classified as a 'last-man standing arrangement.. Therefore the company is potentially liable for other participating employers, obligations if those employer5 are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme. A full actuarial valuation for the scheme was carried out at 30 September 2020. This valuation showed assets of £800.3m, liabilities of £831.9rn and a deficit of £31.6m. To eliminate thi5 funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows.. Dofieit contributiong From i April 2022 10 31 january 2025.. E3.312.000 per annum Ipayablc monthly) Unless a concession has been agreed with the Trustee the term to 31 January 2025 applies. Note that the scheme'5 previous valuation wa5 carried out with an effective date of 30 Septernber 2017. This valuation showed as5et5 of £794.9m, liabilitie5 of £926.4m and a deficit of £131.5m. To eliminate this funding shortfall, the Trustee asked the participating employers to pay additional contributions to the scheme as follows: Page 50
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR EIVDED 31 DECEMBER 2021 Pension commitment5 Icontinuedl Deficit contributions From i Aprll Z019 to 30 September 2025.. Ell,243.0(O per 3nnum (payable monthly and increasin8 by 3% each The recovery plan contributions are allocated to each participating employer in line with their estimated Share of the Series l and Series 2 scheme liabilities. Where the scheme 15 in deficit and where the cornpany has agreed to a deficit funding arrangement the cornpany recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost. PRESENT VALUES OF PROVISION 310ecember 2021 l£sl 31 December 2020 310ecember 2019 Present value of provisioD 29,872 123.001 147,476 RECONCILIATION OF OPENING AND CLOSING PROVISIONS Perlod Endlng .41 nprpmhpr ?(]?I Perfod Endlng .41 F)prp.mhpr ?O?O Provision at start of period 123,Wl 147.476 lJnMrindin8 nf thp disfniint fArtnr linfprpst pwpnfipl ?9 1 49fi Defltlt contrlbutlon pald 128,9281 128.0861 RemeasuieTnents- Imp2ci of any change In 355umptlons 13391 Remeasurements- amendments to the contribution schedule 164,1551 Prnvi*inn at pnd nf pprind ?q 517? Page51
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR EIVDED 31 DECEMBER 2021 Pension commitment5 Icontinuedl INCOME AND EXPENDITURE IMPACT Peilod Endln8 31 December 2021 Perlod Endin8 310ecember 2020 1ntprp.sr pxpen%p ?9.4 1.49fi Remeasuremenrs- Impart of any change In assumptlons 13391 2.115 Remeasurements-aniendmeiils lo Ilie (OiilKibution schedule 164,1551 Contributions paid in respect of future servitr. Costs reco8Dised in income and e%penditure account include5 defined contribution schemes and future service contributions li.e. excluding any deficit reduction payrnentsl to defined benefit schemes which are treated as defined contribution schemes. To be completed by the company- ASSUMPTIONS l ilecember 2U21 % pp.rAnniim 41 Uecernber 2U2U % w.r Anniim 31 L)ecernber july % per annijm Raie of discount 1.18 0.27 1.13 The discount rates shown above are the equivalent single di5COUNt rate5 which, when used to discount the future recovery plan contributions due, would give the same results as using a full AA corporate bond yield curve to discount the same recovery plan contributions. The following schedule detai15 the deficit contribution5 agreed between the company and the scheme at each year end period.. Page 52
THE GIRLS, BRIGADE ENGLAND ANDWALES IA Company Llmlted by Guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR EIVDED 31 DECEMBER 2021 Pension commitment5 Icontinuedl DEFICIT CONTRIBUTIONS SCHEDULE Year endlng 31 December 2021 31 December 2020 31 December 2019 (Esl Year I 13,381 28,928 28,086 Year 2 8,127 29,796 28,928 Year 3 8,127 30.690 29,796 Year 4 677 31,611 30,690 Year 5 2,654 31,611 Year 6 2,654 Year 7 The company must recognise a liability measured as the present value of the contributions payable that arise from the deficit recovery agreement and the resulting expense IN the income and expenditure account i.e. the unwinding of the discount rate as a finance cost in the period in which it arises. It is these contributions that have been used to derive the company's balance sheet liability. 31. Operating lease commitments At 31 December 2021 the Group and the company had commitments to rnake future minimum lease payments under non-cancellable operating leases as follows: Group Group 2020 Company Company 2020 2021 2021 Not later than I year Later than I year and not later than 5 years 63,238 72.111 62,238 100,469 63,238 72.111 62,238 100,469 135.349 162,707 135.349 162,707 32. Related party transactions The charitable company owns 100% of its subsidiary GBEW Trading Limited. During the year. expenditure was recharged of £3,00012020.. £4,094) to the subsidiary cornpany. At the year end arnounts totalling £86,07212020.. £74,745) are included in debtor5 owed to the parent charitable cornpany. Thi5 balance is after a provision ha5 been made of £19,32812020.' £18,848), which is the portion of the balance which is deemed to be irrecoverable. Page 53
The Girls, Brigade England and Wales 2021 Final Accounts preparation Final ALJdil Report 2022-08-19 Created.. 2022-08-17 By.. Laura Green IL3ura.green@bhp.co.ukl Slalus.. Signed Transaction ID.. CBJCHBCAABMK1tLL-H3vt-psUpV_ehMfOuwE4Yrf f "The Girls, Brigade England and Wales 2021 Final Accounts pr eparation" History Docum8nt created by Laura Green llaura.gr8en@bhp.co.ukl 2022-08-17- 1'.17'.11 PM GMT- IP address.. 81.23.52.242 Document emailed to joanne.greengrass@nhs.nel for signature 2022-0&17- 1.'19..11 PM GMT Email viewed byjoanne.greengrass@nhs.net 2022-08-17- 4".59".05 PM GMT- IP addtsss." 92.238.200.192 Email viewed by joanne.greengrass@nhs.net 2022-08-19- 12'.45'.31 PM GMT- IP address.. 92.238.200.192 signerjoanne.greengrass@nhs.net entered name al signing as Joanne Greengrass 2022-0&19- 12..46..49 PM GMT- IP address.. 92.238.200.192 Document e-signed by Joanne Greengrass 0oann8.greengrass@nhs.nell Signature D818'. 2022-08-19- 12'.46".50 PM GMT- Tim8 Sour¢*." s8N8r- IP addres8'. 92.238.200.192 DocLJment emailed to Jane Marshall liane.marshall@bhp.co.ukl for signature 2022.08-19- 12..46..52 PM GMT Email viewed by Jane Marshall lane.marshall@bhp.co.ukl 2022-08-19- 12..59..27 PM GMT- IP address.. 193.42.58.76 Document e-signed by Jane Marshall tiane.marshall@bhp.co.ukl Signalure Dale.. 2022-08-19- 12.'59'.44 PM GMT- Fime Source.. server- IP address.. 109.156.12.67 Agreement completed. 2022-0&19- 12..59..44 PM GMT IJ Adobe Acrobat Slgn