Registered number: 00206877 Charity number: 206655
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
**(A Company Limited by Guarantee)**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2024**
Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## **(A Company Limited by Guarantee)**
## CONTENTS
||Page|
|---|---|
|**Reference and administrative details of the charity, its Trustees and advisers**|1 - 2|
|**Chair's Statement**|3|
|**Trustees' report**|4 - 11|
|**Independent examiner's report**|12|
|**Statement of financial activities**|13 - 14|
|**Balance sheet**|15 - 16|
|**Statement of cash flows**|17|
|**Notes to the financial statements**|18 - 46|
Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## **(A Company Limited by Guarantee)**
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS _FOR THE YEAR ENDED 31 DECEMBER 2024_
|**Trustees**|Mrs A Allchorn|
|---|---|
||Ms C Boxall|
||E Brailsford,Chair from 5 July2025(appointed 5 July2025)|
||Mrs S Fagg|
||Miss H Flint|
||Mrs J Greengrass,Chair until 5 July2025(resigned 5 July2025)|
||Mrs S Hall|
||Mrs A Palmer(appointed 26 February2024)|
||Mrs S Parkin|
||Mrs D E Thomas(appointed 26 February2024)|
|**Company registered**
**number**
00206877
**Charity registered number**
206655
**Registered office**
Cliff College
Calver
Hope Valley
Derbyshire
S32 3XG
**Company secretary**
Mrs Julie Murdy (resigned 4 May 2024)
Mrs Judith Davey-Cole (appointed 4 May 2024)
**Senior management team**
Mrs Julie Murdy, Director (resigned 17 January 2024)
Mrs Judith Davey-Cole, Chief Executive (from 18 January 2024)
Miss Catherine Burt, Deputy CEO (resigned 31 August 2024)
Mrs Jess Gill, Operations Manager (from 1 September 2024)
Ms Eleanor Harding, Comms and Media Manager (from 5 February 2025)
Mrs Sheryl Meakin, Finance Manager (from 1 September 2024)
**Accountants**
Rachel Heath FCCA DChA
BHP LLP
Albert Works
Sidney Street
Sheffield
S1 4RG
**Bankers**
The Co-operative Bank plc
4th Floor
9 Prescot Street
London
E1 8BE||
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Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## **(A Company Limited by Guarantee)**
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS (CONTINUED) _FOR THE YEAR ENDED 31 DECEMBER 2024_
**Solicitors** Anthony Collins 134 Edmund Street Birmingham B3 2ES **Investment managers** Epworth Investment Management Limited 9 Bonhill Street London EC2A 4PE
## **Solicitors**
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Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
**(A Company Limited by Guarantee)**
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## CHAIR'S STATEMENT
_FOR THE YEAR ENDED 31 DECEMBER 2024_
2024 was a good year for The Girls’ Brigade England & Wales.
We made good progress in bouncing back from the challenges we experienced during the COVID period when our weekly youth groups couldn’t meet and consequently caused a large dip in our income. The number of girls and young women are growing, as is the number of volunteers that run the Girls’ Brigade groups up and down England and Wales. We’re grateful to all those volunteers who give so generously of their time to improve the lives of the young people in their care. Crucially we know that our impact is strong – we help girls and young women build their confidence, gain life skills, and develop leadership skills so that they’re able to contribute to their communities and to society. We sow the seeds of faith.
We’ve raised our profile through various national events and were featured in the national media on numerous occasions. We’re delighted that the amazing Margaret Casely-Hayford became our patron.
We developed new income streams through our Fundraising Challenge and were successful in applying for Match Funding from The Big Give. The Girls’ Brigade were successful in bidding for grant funding from the Department of Culture, Media and Sport and put that to good use in modernising our approaches and extending our reach. At the same time, we reviewed our cost base and made some substantial ongoing savings.
We are well positioned for the future and are confident that we can continue to play a role in shaping the lives of girls and young girls for generations to come.
Amanda Allchorn
Signer ID: RYOJ9YKTBR...
Deputy Chair Date: 26/09/2025 GMT
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Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## **(A Company Limited by Guarantee)**
## TRUSTEES' REPORT
_FOR THE YEAR ENDED 31 DECEMBER 2024_
The Trustees are delighted to present their annual report together with the audited financial statements of The Girls' Brigade England & Wales for the year 1 January 2024 to 31 December 2024.
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 provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
## _**Objectives and activities**_
## **a. Policies and objectives**
Girls' Brigade England & Wales is part of the Girls' Brigade International fellowship, and we operate solely in England and Wales. Our purpose is to develop confident girls and young women who have the life skills they need to live their lives to the full and to contribute to their communities and to society. Crucially, we sow the seeds of Christian faith. Although we are a proudly Christian organisation, we understand and respect that some of our young people and our volunteers have other faiths or no faith. Everyone is welcome.
We work with girls and young women between the ages of 4-18, and our young leaders’ pathway is from the age of 14-26. We’re proud that we provide a girls-only space as research shows that the challenges facing girls and young women are quite different from the challenges facing boys and young men.
We’re well over 130 years and we’re determined to ensure that we empower, equip, and enable girls and young women to build their skills and confidence in contributing to their local communities and to society. We’re determined to develop female leaders of the future for generations to come. We’ve developed and transformed over these 130 years and continue to do so. This ensures that we remain relevant to girls and young women and work with them on the things that matter most to them.
## **b. Our activities to deliver public benefit**
The Girls’ Brigade delivers public benefit through providing safe spaces where young people have fun, learn Christian values, and develop life skills and leadership skills through physical activity, crafts, teamwork and community outreach. Our work is sustainable, holistic and life-enriching, enabling young people to live life to the full. This has a positive impact on communities and society.
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Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## **(A Company Limited by Guarantee)**
## TRUSTEES' REPORT (CONTINUED)
_FOR THE YEAR ENDED 31 DECEMBER 2024_
## **Objectives and activities (continued)**
## **c. Objectives and activities**
Our “theory of change” describes what change we want to see for children and young people in England and Wales. It shows the “what and how” needed to enable children and young people to live their best lives - live life to the full as set out in scripture. It informs our short-, medium-, and long-term decision making. The strategic plan takes account of the tough environment within which uniformed youth charities like Girls’ Brigade are operating:
- People. We continuously celebrate the achievements of our girls and the contribution of our volunteers and leaders. We are committed to continuously improving the volunteer experience to ensure that our retention of volunteers remains high. We provide top quality training to our volunteers on youth work and safeguarding so that they provide an environment that is safe and well managed, in which our girls and young women can thrive and develop.
- Profile. We are raising our profile, shouting about our work, and sharing stories that evidence the transformational impact that we have on the lives of girls and young women. These stories show powerfully and viscerally that we’re as relevant to girls today as we were 130 years ago and will encourage people to join us as members of our groups or as volunteers.
- Sustainability. We are seeking to increase our income so that we can invest more in our programme work – how we build girls’ and young women’s skills and confidence and develop their leadership skills. We also want to increase our resilience to external shocks and diversify our sources of income so that we are not so heavily dependent on a small number of income streams.
We assess performance against the strategic plan objectives quarterly using a KPI dashboard to ensure that we’re on track.
## _**Achievements and performance**_
## **a. Achievements and performance**
We reduced costs in 2024 and the benefits from this will flow through into 2025 and beyond. Bringing our trading activities in-house has helped reduce costs. Changes and improvements to our online shop have helped drive additional efficiencies in trading. Our fundraising campaigns and grant applications were successful, which has helped our financial position considerably.
Feedback from girls and young women attending our groups is very positive about the activities we undertake. Surveys show that they have fun, make friends, and develop skills. Developing their leadership potential is seen as a key strength. “Bring a friend” events are successful in ensuring that our groups grow and flourish.
Our volunteer retention remains incredibly high, with just under 1000 volunteers with over 50 years’ service as a Girls’ Brigade volunteer. Our focus remains on recruiting new volunteers and ensuring a positive volunteer experience,
An external agency assessed our policies, procedures and practice on equality, diversity and inclusion to ensure that we have the necessary approaches in place to address any specific needs such as neurodiversity and SEND. We were delighted that we were assessed as a “potential trailblazer”.
We successfully delivered the grant from the Department for Culture, Media and Sport and achieved all the required KPIs and milestones.
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Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## **(A Company Limited by Guarantee)**
TRUSTEES' REPORT (CONTINUED) _FOR THE YEAR ENDED 31 DECEMBER 2024_
## **Achievements and performance (continued)**
All policies and procedures were reviewed to ensure compliance with legislation and regulation. There were no reportable incidents.
## _**Financial review**_
## **a. Financial Review**
The deficit for the year was £23,349 (2023: deficit of £83,383 after a prior year adjustment increasing the deficit by £18,201). This is made up of a deficit of £7,244 (2023: £52,046 ) from unrestricted funds and a deficit of £16,105 (2023: £28,337) from restricted funds. Funds total £517,601 (2023: £540,950 after a prior year adjustment reducing it by £18,201) comprising of unrestricted funds of £113,452 (2023: £120,696) and restricted funds of £404,149 (2023: £420,254).
Our income has largely been drawn from membership subscriptions, which for the 12-month period to 31 December was £246,032 (compared to £234,117 in 2023). This increase in subscription income reflects the positive work done through the DCMS grant to increase young people and volunteers in groups. A further grant from the DCMS Uniformed Youth Fund was also received during 2024 which has allowed us to continue to build on this work. The provision of grants shows the value placed upon the work of Girls' Brigade externally.
The national fundraising campaign that took place in October 2024 was also very successful which coincided with Match Funding we received from the Big Give. This formed a large portion of the total donations we received in 2024 (£75,859, compared to £26,795 in 2023). We’re grateful to those people who have supported our mission financially - whether through the Fundraising Challenge, one-off donations or regular giving.
## **b. Investment powers and policies**
The trustees, who have a keen awareness of the need for Girls’ Brigade to balance operational liquidity and stable growth of investments, benefited from the services of Epworth Investment Management Service again this year. Aims and parameters for the portfolio 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 parameters are set for this as follows: Equities (50-70%); Fixed interest (30-50%).
Some funds were kept in interest-bearing deposit accounts to provide access as needed for cash flow management.
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Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## **(A Company Limited by Guarantee)**
## TRUSTEES' REPORT (CONTINUED)
_FOR THE YEAR ENDED 31 DECEMBER 2024_
## **c. Going concern**
In 2025 we will continue to build on the profile-raising work that we’ve been doing to ensure Girls’ Brigade is at the front of parents’ minds when they’re looking for activities for their children. The work we’ve done in 2024 has proven that the local advertising and sharing powerful stories about our girls works. Attracting more girls will also help increase subscription income.
The laser sharp focus for 2025-26 is on increasing and diversifying income through fundraising. We have also planned a national fundraising appeal in October 2025. We will also be seeking additional grant funding.
The Trustees have reviewed detailed financial forecasts over a period of 24 months to December 2026 based upon known costs and projected income, the latter of which is supported by a fundraising campaign scheduled for launch in September 2025. The Trustees recognise there are challenges from generating voluntary income both from subscription income and that income from the fundraising campaign can be unpredictable. We have undertaken sensitivity testing on the forecasts and have appropriate plans in place.
In summary, the Trustees are of the opinion that despite the challenge in increasing voluntary income, the charity has adequate resources to meet its financial obligations, and to continue in operational existence for at least 12 months from approval of these financial statements. It is for the reasons stated above that the directors are satisfied that the charity will have adequate resources to continue in operational existence for the foreseeable future and has prepared these financial statements on the 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 2024 to be in the range of three to six months cover of annual charitable expenditure which gives a target of £103,000 to £206,000.
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 2024 comprised the following:
|Total consolidated funds per Balance Sheet (Group)
Less:
Restricted Funds
Fixed assets - unrestricted funds
Free Reserves|£
517,601
(404,149)
(2,965)|
|---|---|
||
£110,482|
Although the year end level of free reserves is within the target range of £103,000 to £206,000 trustees recognise that they are at the lower end of aspirations and they keep the free reserves level under close review. 2025 will benefit from a full year of reduced overheads after a thorough review through 2024 and another focus on the fundraising campaign will help contribute to unrestricted income.
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Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## **(A Company Limited by Guarantee)**
## TRUSTEES' REPORT (CONTINUED)
_FOR THE YEAR ENDED 31 DECEMBER 2024_
## **e. Grant-making funds**
The Holcot Fund (Matilda Alice Hubbard Trust 2001) was established following the sale, in 2001, of a property (Holcot) originally donated by Matilda Alice Hubbard. Within the terms of the Trust, the criteria for grant support are to provide or assist in the provision of holiday or residential event accommodation for members to assist in their training. Grants awarded from this trust are administered centrally, through a written application process. An annual report of applications and awards is made to the trustees. During the year, 3 grants were given which subsidised individual girls and this fund paid for the delivery of the Esther Generation Weekend for 19 Queen’s Award candidates aged between 18 and 25.
## **f. Plans for future periods**
Our plans for 2025 include:
## People
- Focus on recruitment of new volunteers as this is the key constraint in growing groups, increasing impact and deepening our impact
- Improving our volunteer experience
- Re-vamping our young leader training to ensure it remains current and relevant and helps provide pathways to employment for young women. This will also help us increase the numbers of adult volunteers as young leaders become fully fledged volunteer leaders
- Continuing to augment our place-based groups with online groups as we know many young people enjoy online activities and some groups of young people prefer online
## Profile
- Continuing to raise our profile by sharing powerful stories of change with the media and press.
- Deepening our reputation as an agency that has insightful things to say about issues that matter to girls and young women.
- Celebrating the achievements of our children, young people and volunteers
## Sustainability
- Continuing to run a national fundraising appeal every year to raise funds to invest in delivering our mission
- Diversifying our income and funding streams
- Updating our programme work – the activities undertaken in the community groups – to ensure that our work remains relevant and reflects current issues facing girls and young women and we attract new members
- Strengthening our governance and compliance – particularly of local groups and districts
## _**Structure, governance and management**_
## **a. Governing document**
The Girls' Brigade England & 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.
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Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## **(A Company Limited by Guarantee)**
## TRUSTEES' REPORT (CONTINUED)
_FOR THE YEAR ENDED 31 DECEMBER 2024_
## **Structure, governance and management (continued)**
## **b. Methods of appointment or election of Trustees**
The Girls' Brigade 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 Trustees**
To maintain a mature and well-equipped trustee Board, information about the role, responsibilities and skills needed for Board membership is made available internally and externally when vacancies arise. New trustees undergo a formal induction process and training in governance-related matters is offered to trustees on an ongoing basis.
## **d. Organisation**
The Board comprises a maximum of 10 trustees. The Board meets four times in the year, although other meetings may be called if required. The Board can appoint standing groups for specific purposes. Currently the standing groups are the Network Executive (which maintains oversight of the uniformed youth work), Personnel, Finance, and Risk. The Network Executive meets 3 times a year and the other groups meet on an “as required” basis but meet at least once a year. The board has nominated a lead trustee for safeguarding.
The Chief Executive is appointed by the Board to manage day-to-day operations of the charity. This person has delegated authority for strategic and operational matters including finance, employment, and delivery of the strategic plan.
## **e. Related parties and co-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 is disclosed in the same way as any other contractual relationship with a related party. No such transactions were reported within the reporting period.
Details of directors’ expenses and related party transactions are disclosed in note 15 and 32 to the accounts.
## **f. Fundraising standards information**
Girls’ Brigade are registered with the Fundraising Regulator. During the year we have not appointed any professional fundraisers to support the work of the charity. We are registered with Give as You Live and our supporters can raise donations for our work through this. We are also registered on the Stewardship and PayPal donation platforms.
We have not received any complaints about our fundraising practice during 2024. There have been no serious or reportable incidents during 2024.
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Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## **(A Company Limited by Guarantee)**
## TRUSTEES' REPORT (CONTINUED)
_FOR THE YEAR ENDED 31 DECEMBER 2024_
## **Structure, governance and management (continued)**
## **g. 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 GBM on a day-to-day basis. All trustees give of their time freely and no trustee received remuneration in the year. Details of directors’ expenses and related party transactions are disclosed in note 15 to the accounts.
The pay of the senior staff is reviewed annually and normally increased in accordance with cost of living/inflation levels.
## **h. Risk Management**
- The trustees have a risk management strategy, which comprises:
- An annual “deep dive” review of the principal risks and uncertainties that the charity faces and quarterly review of the risk register.
- 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.
Key risks to the organization are:
- financial sustainability bearing in mind the external environment. Ongoing attention is paid to both income generation, efficiency and effectiveness.
- Compliance with legislation and regulation (including safeguarding), particularly at the local groups and districts, given the nature of our work (which could have financial and reputational consequences). We continue to maintain an intense focus on this risk through safer recruitment, DBS checks, embedding of policies and procedures, and continually raising the awareness of our volunteer leaders of their responsibilities and duties in this regard. We are a member of thirtyone:eight – the Christian safeguarding agency and can access help and advice through their helpline should we judge that’s necessary.
- Cyber attack on our systems to access sensitive personal data about children, young people, their parents and volunteers. Advice is being sought on penetration and other forms of “white hat” testing on key systems.
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Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## **(A Company Limited by Guarantee)**
## TRUSTEES' REPORT (CONTINUED)
_FOR THE YEAR ENDED 31 DECEMBER 2024_
## **Statement of Trustees' responsibilities**
The Trustees (who are also the directors of the charity for the purposes of company law) 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 Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . 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 charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP 2019 (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping adequate accounting records that are sufficient to disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
## Signer ID: RYOJ9YKTBR...
**Mrs A Allchorn** Deputy Chair Date: 26/09/2025 GMT
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Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
**(A Company Limited by Guarantee)**
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## INDEPENDENT EXAMINER'S REPORT
_FOR THE YEAR ENDED 31 DECEMBER 2024_
## **Independent examiner's report to the Trustees of The Girls' Brigade England and Wales ('the charity')**
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 December 2024.
## **Responsibilities and basis of report**
As the Trustees of the charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ACCA, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed:
Dated: 26/09/2025 GMT
Signer ID: WKOLTHN6RI...
Rachel Heath FCCA DChA
BHP LLP Albert Works Sidney Street S1 4RG
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Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## **(A Company Limited by Guarantee)**
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) _FOR THE YEAR ENDED 31 DECEMBER 2024_
|**Note**
**Income from:**
Donations and legacies
4
Charitable activities
5
Other trading activities
6
Investments
7
Other income
8
**Total income**
**Expenditure on:**
Raising funds
9
Charitable activities
10
**Total expenditure**
**Net expenditure before net gains on**
**investments**
Net gains on investments
**Net expenditure**
Transfers between funds
24
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward as previously
stated
Prior year adjustment
Total funds brought forward as restated
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2024**
**£**
**67,981**
**257,599**
**64,823**
**9,231**
**1,049**
**400,683**
**61,140**
**350,692**
**411,832**
**(11,149)**
**-**
**(11,149)**
**3,905**
**(7,244)**
**65,322**
**55,374**
**120,696**
**(7,244)**
**113,452**|**Restricted**
**funds**
**2024**
**£**
**142,877**
**22,406**
**-**
**8,005**
**-**
**173,288**
**-**
**195,325**
**195,325**
**(22,037)**
**9,837**
**(12,200)**
**(3,905)**
**(16,105)**
**493,829**
**(73,575)**
**420,254**
**(16,105)**
**404,149**|**Total**
**funds**
**2024**
**£**
**210,858**
**280,005**
**64,823**
**17,236**
**1,049**
**573,971**
**61,140**
**546,017**
**607,157**
**(33,186)**
**9,837**
**(23,349)**
**-**
**(23,349)**
**559,151**
**(18,201)**
**540,950**
**(23,349)**
**517,601**|As restated
Total
funds
2023
£
282,767
273,547
83,541
8,231
-
648,086
83,406
653,219
736,625
(88,539)
5,156
(83,383)
-
(83,383)
624,333
-
624,333
(83,383)
540,950|
|---|---|---|---|---|
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Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## **(A Company Limited by Guarantee)**
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) (CONTINUED)
_FOR THE YEAR ENDED 31 DECEMBER 2024_
The Statement of financial activities complies with the requirements for an income and expenditure account under the Companies Act 2006 and includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## **(A Company Limited by Guarantee)**
REGISTERED NUMBER: 00206877
## BALANCE SHEET
_AS AT 31 DECEMBER 2024_
|**Note**
**Fixed assets**
Intangible assets
16
Tangible assets
17
Investments
18
**Current assets**
Stocks
19
Debtors
20
Cash at bank and in hand
**Current liabilities**
Creditors: amounts falling due within one year
21
**Net current assets**
**Total assets less current liabilities**
Creditors: amounts falling due after more than
one year
22
**Total net assets**|**20,653**
**84,125**
**359,003**
**463,781**
**(91,516)**|**2024**
**£**
**-**
**2,965**
**153,737**
**156,702**
**372,265**
**528,967**
**(11,366)**
**517,601**|17,699
109,894
408,345
535,938
(139,625)|As restated
2023
£
-
1,191
143,900
145,091
396,313
541,404
(454)
540,950|
|---|---|---|---|---|
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Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## **(A Company Limited by Guarantee)**
REGISTERED NUMBER: 00206877
## BALANCE SHEET (CONTINUED)
_AS AT 31 DECEMBER 2024_
|**Note**
**Charity funds**
Restricted funds
24
Unrestricted funds
General funds
24
Revaluation reserve
Unrestricted funds excluding pension liability
24
Pension reserve
24
Total unrestricted funds
24
**Total funds**|**79,264**
**50,458**
**129,722**
**(16,270)**|**2024**
**£**
**404,149**
**113,452**
**517,601**|78,819
50,458
129,277
(8,581)|As restated
2023
£
420,254
120,696|
|---|---|---|---|---|
||||||
|||||540,950|
The charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees 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:
Signer ID: RYOJ9YKTBR...
**Mrs A Allchorn** Deputy Chair Date: 26/09/2025 GMT
The notes on pages 18 to 46 form part of these financial statements.
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Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## **(A Company Limited by Guarantee)**
## STATEMENT OF CASH FLOWS
_FOR THE YEAR ENDED 31 DECEMBER 2024_
|**Note**
**Cash flows from operating activities**
Net cash (used in) operating activities
27
**Cash flows from investing activities**
Dividends and interest from investments
Purchase of tangible fixed assets
**Net cash provided by investing activities**
**Cash flows from financing activities**
Pension deficit contributions
**Net cash used in financing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**
28|**2024**
**£**
**(53,138)**
**15,978**
**(2,700)**
**13,278**
**(9,482)**
**(9,482)**
**(49,342)**
**408,345**
**359,003**|As restated
2023
£
(88,015)
8,231
(1,586)
**6,645**
(8,127)
**(8,127)**
**(89,497)**
497,842
408,345|
|---|---|---|
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Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
**THE GIRLS' BRIGADE ENGLAND AND WALES**
**(A Company Limited by Guarantee)**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2024_
## **1. General information**
The charitable company is a company limited by guarantee. The members of the company are the trustees names on page 1. 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.
## **2. Accounting policies**
## _**2.1 Basis of preparation of financial statements**_
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Girls' Brigade England and Wales meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
Following an agreement to transfer the assets, liabilities and undertakings of GBEW Trading in July 2024, the financial statements for the charity have adopted the merger method of accounting, which involves aggregating the assets, liabilities and funds as a combined entity and presenting them as though they had always been part of the same reporting charity.
The financial statements include the results of the combining charities for the whole reporting period in which the merger occurred and present comparative amounts on the same basis to show the aggregated results of for the combining charities for the previous reporting period.
## _**2.2 Going concern**_
The Trustees have reviewed the detailed financial forecasts over a period of 24 months to December 2026 based upon known costs and projected income. The Trustees recognise there are challenges from generating voluntary income both from subscription income and that income from the fundraising campaign is unpredictable.
To combat the identified unpredictability of voluntary income the charity is taking proactive steps to manage costs and has undertaken sensitivity testing on the forecasts, to ensure that all options have been considered in the event that fundraising income does not achieve current projections.
In summary, the Trustees are of the opinion that despite the significant challenges of increasing voluntary income, the charity has adequate resources to meet its financial obligations, and to continue in operational existence for at least 12 months from approval of these financial statements. It is for the reasons stated above that the directors are satisfied that the charity will have adequate resources to continue in operational existence for the foreseeable future and has prepared these financial statements on the going concern basis.
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Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
**THE GIRLS' BRIGADE ENGLAND AND WALES**
**(A Company Limited by Guarantee)**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2024_
## **2. Accounting policies (continued)**
## _**2.3 Income**_
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can 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 charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied 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 charity, can be reliably measured.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes 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 accrued.
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.
## _**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 is classified by activity. The costs of each activity 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 activities on a basis 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 charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
## _**2.5 Taxation**_
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity 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.
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Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## **(A Company Limited by Guarantee)**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2024_
## **2. Accounting policies (continued)**
## _**2.6 Intangible assets and amortisation**_
Intangible assets costing £NIL or more are capitalised and recognised when future economic benefits are probable, and the cost or value of the asset can be measured reliably.
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 calculated to write off the cost of each asset on a straight-line basis over its expected useful life.
Amortisation is provided on the following basis:
Website costs
- 33 % straight line
## _**2.7 Tangible fixed assets and depreciation**_
Tangible fixed assets 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 assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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 basis:
Fixtures and fittings - 10% per annum straight line Computer equipment - 25% per annum straight line
## _**2.8 Investments**_
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities.
## _**2.9 Stocks**_
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.
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Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
**THE GIRLS' BRIGADE ENGLAND AND WALES**
**(A Company Limited by Guarantee)**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2024_
## **2. Accounting policies (continued)**
## _**2.10 Debtors**_
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.
## _**2.11 Cash at bank and in hand**_
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## _**2.12 Liabilities and provisions**_
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 charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate 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 recognised in the Statement of Financial Activities as a finance cost.
## _**2.13 Financial instruments**_
The charity 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 loans which are subsequently measured at amortised cost using the effective interest method.
## _**2.14 Operating leases**_
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the lease term.
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Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
**(A Company Limited by Guarantee)**
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2024_
## **2. Accounting policies (continued)**
## _**2.15 Employee benefits and pensions**_
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 contributes to The Pensions Trust Growth Plan for its employees. This is in most respects a money purchase arrangement, but does include certain guaranteed benefit elements. The Plan is a multiemployer 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 account. Under FRS 102, the fair value of the commitment is recognised. 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.
## _**2.16 Fund accounting**_
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity 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 is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
## _**3.**_ **Critical accounting estimates and areas of judgment**
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions:
The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. 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.
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Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## **(A Company Limited by Guarantee)**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2024_
## **4. Income from donations and legacies**
|Donations and legacies
Grants
Total 2023|**Unrestricted**
**funds**
**2024**
**£**
67,981
-
67,981
17,818|**Restricted**
**funds**
**2024**
**£**
7,878
134,999
142,877
264,949|**Total**
**funds**
**2024**
**£**
**75,859**
**134,999**
**210,858**
282,767|Total
funds
2023
£
26,795
255,972|
|---|---|---|---|---|
|||||282,767|
||||||
## **5. Income from the development of the Christian faith**
|Subscriptions
Activities and camp fees
Annual meeting
International office income
Other income
Total 2023|**Unrestricted**
**funds**
**2024**
**£**
243,324
4,956
-
8,333
986
257,599
244,665|**Restricted**
**funds**
**2024**
**£**
2,708
19,683
-
-
15
22,406
28,882|**Total**
**funds**
**2024**
**£**
**246,032**
**24,639**
**-**
**8,333**
**1,001**
**280,005**
273,547|Total
funds
2023
£
234,117
28,643
25
8,386
2,376|
|---|---|---|---|---|
|||||273,547|
||||||
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Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## **(A Company Limited by Guarantee)**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2024_
## **6. Income from other trading activities**
## **Income from non charitable trading activities**
|Trading income
Charity trading income
Total 2023|**Unrestricted**
**funds**
**2024**
**£**
33,296
31,527
64,823
83,541|**Total**
**funds**
**2024**
**£**
**33,296**
**31,527**
**64,823**
83,541|Total
funds
2023
£
83,032
509|
|---|---|---|---|
||||83,541|
|||||
## **7. Investment income**
|Dividends received
Bank interest
Total 2023|**Unrestricted**
**funds**
**2024**
**£**
9,231
-
9,231
5,280|**Restricted**
**funds**
**2024**
**£**
-
8,005
8,005
2,951|**Total**
**funds**
**2024**
**£**
**9,231**
**8,005**
**17,236**
8,231|Total
funds
2023
£
5,596
2,635|
|---|---|---|---|---|
|||||8,231|
||||||
## **8. Other incoming resources**
||**Unrestricted**|**Total**|Total|
|---|---|---|---|
||**funds**|**funds**|funds|
||**2024**|**2024**|2023|
||**£**|**£**|£|
|Other income|1,049|**1,049**|-|
Page 24
Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## **(A Company Limited by Guarantee)**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2024_
## **9. Expenditure on raising funds**
## _**Costs of raising voluntary income**_
|Trading expenses
Total 2023|**Unrestricted**
**funds**
**2024**
**£**
61,140
83,406|**Total**
**funds**
**2024**
**£**
**61,140**
83,406|Total
funds
2023
£
83,406|
|---|---|---|---|
|||||
## **10. Analysis of expenditure on charitable activities**
_**Summary by fund type**_
|Development of the Christian faith
Total 2023
**Summary by expenditure type**
Development of the Christian faith
Total 2023|**Staff costs**
**2024**
**£**
226,418
220,011|**Unrestricted**
**funds**
**2024**
**£**
350,692
331,369
**Depreciation**
**2024**
**£**
926
1,992|**Restricted**
**funds**
**2024**
**£**
195,325
321,850
**Other costs**
**2024**
**£**
318,673
431,216|**Total**
**2024**
**£**
**546,017**
653,219
**Total**
**2024**
**£**
**546,017**
653,219|Total
2023
£
653,219|
|---|---|---|---|---|---|
||||||Total
2023
£
653,219|
|||||||
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Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## **(A Company Limited by Guarantee)**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2024_
## **Summary by activity type**
|Volunteer and Group Support
Insurance and Insurance Administration
Programme Delivery
Programme Development
Governance and Strategy Development
Volunteer Equipping
Subscriptions
Communications and Media Presence
Networking
Fundraising and Donor Management
Total 2023|**Direct costs**
**2024**
**£**
139,327
49,362
56,021
31,500
86,315
52,615
33,465
42,761
10,982
15,411
517,759
618,664|**Support costs**
**2024**
**£**
-
-
-
-
31,454
-
-
-
-
-
31,454
34,555|**Total**
**funds**
**2024**
**£**
**139,327**
**49,362**
**56,021**
**31,500**
**117,769**
**52,615**
**33,465**
**42,761**
**10,982**
**15,411**
**549,213**
653,219|Total
funds
2023
£
165,712
58,710
66,630
37,465
140,071
62,577
39,802
50,860
13,062
18,330|
|---|---|---|---|---|
|||||653,219|
||||||
The allocation of the costs between activities is based on the proportion of staff time spent on each activity.
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Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## **(A Company Limited by Guarantee)**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2024_
## **11. Charitable activities**
|Rent and rates
Telephone costs
Insurances
Printing costs
Computer costs
Recruitment costs
Training costs
Legal and professional costs
Motor and travel costs
Meeting costs
International fees
Subscriptions
Activities and camp costs
Costs associated with DCMS fund
The View costs
Development costs - programme
Sundries
Bank charges and interest paid
Wages and salaries
National insurance
Pension cost
Remeasurement of pension scheme
Depreciation
Governance costs (note 12)|**2024**
**£**
**21,881**
**10,289**
**36,527**
**1,853**
**46,203**
**1,212**
**-**
**96**
**4,404**
**75**
**319**
**1,939**
**48,674**
**85,379**
**268**
**790**
**9,033**
**2,338**
**199,437**
**11,198**
**15,783**
**16,964**
**926**
**30,429**
**546,017**|2023
£
30,300
9,562
33,863
2,844
44,903
3,504
450
651
1,422
233
186
3,133
67,147
189,250
1,629
506
3,226
3,866
198,068
10,513
11,430
(14)
1,992
34,555
653,219|
|---|---|---|
Page 27
Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## **(A Company Limited by Guarantee)**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2024_
|**12.**
**Governance costs**
Auditor and independent examiner fees
Accountancy fees - outsourced
Trustees' and executives' travel and meeting costs
**13.**
**Net income/(expenditure)**
Depreciation of tangible fixed assets owned by the charity
Amortisation of intangible fixed assets
Auditor's remuneration - audit
Auditor's remuneration - non audit
Operating lease payments
**14.**
**Independent examiner's/ auditor's remuneration**
Fees payable to the charity's independent examiner for the independent
examination of the charity's annual accounts
Fees payable to the charity's auditor in respect of:
Audit services
Other accountancy and VAT services|**2024**
**£**
**8,140**
**17,979**
**4,310**
**30,429**
**2024**
**£**
**926**
**-**
**-**
**-**
**41,438**
**2024**
**£**
**7,645**
**-**
**-**|2023
£
23,472
8,800
2,283|
|---|---|---|
|||34,555|
|||2023
£
1,992
2,916
20,200
2,800
69,237|
|||2023
£
-
20,200
2,800|
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Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## **(A Company Limited by Guarantee)**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2024_
## **15. Staff costs**
|Wages and salaries
Social security costs
Contribution to defined contribution pension schemes|**2024**
**£**
**199,437**
**11,198**
**15,783**
**226,418**|2023
£
198,068
10,513
11,430|
|---|---|---|
||||
|||220,011|
The average number of persons employed by the charity during the year was as follows:
||**2024**|2023|
|---|---|---|
||**No.**|No.|
|Employees|**9**|9|
No employee received remuneration amounting 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. 9 members of the Trustee Board (2023: 7) received reimbursed travel expenses amounting to £788 (2023: £490).
During the period, trustees made donations to the charity totalling £2,850 (2023: £135).
The charity is heavily reliant upon the support of volunteers who give their time to the work of the Girls' Brigade, which cannot be valued.
The total amount of employee benefits, including employer's pension contributions and employers' national insurance, received by the senior management team is £96,311 (2023: £101,977). The charity's senior management team are detailed on page 1.
Page 29
Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## **(A Company Limited by Guarantee)**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2024_
## **16. Intangible assets**
|**_Cost_**
At 1 January 2024
At 31 December 2024
**_Amortisation_**
At 1 January 2024
At 31 December 2024
**_Net book value_**
At 31 December 2024
At 31 December 2023
**17.**
**Tangible fixed assets**
**_Cost or valuation_**
At 1 January 2024
Additions
Disposals
At 31 December 2024
**_Depreciation_**
At 1 January 2024
Charge for the year
On disposals
At 31 December 2024|**Fixtures and**
**fittings**
**£**
**69,117**
**182**
**-**
**69,299**
**68,722**
**161**
**-**
**68,883**|**Computer**
**equipment**
**£**
**50,040**
**2,518**
**(8,434)**
**44,124**
**49,244**
**765**
**(8,434)**
**41,575**|**Website**
**£**
**44,000**
**44,000**
**44,000**
**44,000**
**-**
-
**Total**
**£**
**119,157**
**2,700**
**(8,434)**
**113,423**
**117,966**
**926**
**(8,434)**
**110,458**|
|---|---|---|---|
Page 30
Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## **(A Company Limited by Guarantee)**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2024_
|**17.**
**Tangible fixed assets (continued)**
**Fixtures and**
**fittings**
**Computer**
**equipment**
**£**
**£**
**_Net book value_**
At 31 December 2024
**416**
**2,549**
At 31 December 2023
395
796
**18.**
**Fixed asset investments**
**_Cost or valuation_**
At 1 January 2024
Revaluations
At 31 December 2024
**_Net book value_**
At 31 December 2024
At 31 December 2023
The historical cost of listed investments held in the charity was £93,442 (2023: £93,442).
**19.**
**Stocks**
**2024**
**£**
Finished goods and goods for resale
**20,653**|**Total**
**£**
**2,965**|
|---|---|
||1,191|
||**Listed**
**investments**
**£**
**143,900**
**9,837**|
||**153,737**|
||**153,737**|
||143,900|
||2023
£
17,699|
Page 31
Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## **(A Company Limited by Guarantee)**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2024_
## **20. Debtors**
|Trade debtors
Other debtors
Prepayments and accrued income
**Creditors: Amounts falling due within one year**
Pension liability
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
Deferred income at 1 January 2024
Resources deferred during the year
Amounts released from previous periods
**_Deferred income at 31 December 2024_**|**2024**
**£**
**2,421**
**2,536**
**79,168**
**84,125**
**2024**
**£**
**4,904**
**13,953**
**4,615**
**1,438**
**66,606**
**91,516**
**2024**
**£**
**57,450**
**52,299**
**(57,450)**
**52,299**|2023
£
17,416
9,465
83,013|
|---|---|---|
||||
|||109,894|
|||2023
£
8,127
28,770
4,673
2,001
96,054|
||||
|||139,625|
|||2023
£
55,138
57,450
(55,138)|
||||
|||57,450|
## **21. Creditors: Amounts falling due within one year**
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**
||**2024**|2023|
|---|---|---|
||**£**|£|
|Pension liability|**11,366**|454|
Page 32
Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## **(A Company Limited by Guarantee)**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2024_
## **23. Prior year adjustments**
A transfer from restricted to unrestricted of £55,374 was made as a prior year adjustment. This represents the correction of the allocation of staff costs to DCMS funding.
A prior year adjustment of £18,202 was made to Branches’ funds. This reflects expenditure that occurred during 2023 (£7,876), an amount which was misclassified as Branches’ funds (£2,332) and an investment still held that was transferred from restricted to unrestricted funds (£7,994).
Page 33
Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## **(A Company Limited by Guarantee)**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2024_
## **24. Statement of funds**
## **Statement of funds - current year**
|**_Unrestricted_**
**_funds_**
General funds -
charity
General funds -
trading
Revaluation
reserve
Pension reserve
**_Restricted funds_**
Matilda Alice
Hubbard fund
The Irene
Bosworth
Friendship Fund
DCLG Grant
DCLG Start Up
Grants
SLF/YML Income
YUF
DofE
Build Hope
Branches' funds
Keep On Keepin
On
Bristol
Development
Project
DCMS Uniformed
Youth New
Groups Funding|**As restated**
**Balance at 1**
**January 2024**
**£**
**96,083**
**(17,264)**
**50,458**
**(8,581)**
**120,696**
**21,911**
**3,707**
**424**
**14,990**
**175**
**2,223**
**1,010**
**793**
**350,368**
**533**
**23,501**
**619**|**Income**
**£**
**367,425**
**33,258**
**-**
**-**
**400,683**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**49,495**
**91**
**-**
**123,702**|**Expenditure**
**£**
**(373,858)**
**(30,285)**
**-**
**(7,689)**
**(411,832)**
**(1,154)**
**-**
**-**
**(803)**
**-**
**-**
**-**
**-**
**(68,085)**
**-**
**(962)**
**(124,321)**|**Transfers**
**in/out**
**£**
**(10,386)**
**14,291**
**-**
**-**
**3,905**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**(3,905)**
**-**
**-**
**-**|**Gains/**
**(Losses)**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**9,837**
**-**
**-**
**-**|**Balance at 31**
**December 2024**
**£**
**79,264**
**-**
**50,458**
**(16,270)**
**113,452**
**20,757**
**3,707**
**424**
**14,187**
**175**
**2,223**
**1,010**
**793**
**337,710**
**624**
**22,539**
**-**|
|---|---|---|---|---|---|---|
Page 34
Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## **(A Company Limited by Guarantee)**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2024_
## **24. Statement of funds (continued)**
## _**Statement of funds - current year (continued)**_
|**_Total of funds_**|**As restated**
**Balance at 1**
**January 2024**
**£**
**420,254**
**540,950**|**Income**
**£**
**173,288**
**573,971**|**Expenditure**
**£**
**(195,325)**
**(607,157)**|**Transfers**
**in/out**
**£**
**(3,905)**
**-**|**Gains/**
**(Losses)**
**£**
**9,837**
**9,837**|**Balance at 31**
**December 2024**
**£**|
|---|---|---|---|---|---|---|
|||||||**404,149**|
|||||||**517,601**|
Page 35
Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## **(A Company Limited by Guarantee)**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2024_
## **24. Statement of funds (continued)**
**Statement of funds - prior year**
|**_Unrestricted_**
**_funds_**
General funds -
charity
General funds -
trading
Revaluation
reserve
Pension reserve
**_Restricted funds_**
Matilda Alice
Hubbard fund
The Irene
Bosworth
Friendship Fund
DCLG Grant
DCLG Start Up
Grants
SLF/YML Income
YUF
DofE
Build Hope
Branches' funds
Keep On Keepin
On
Bristol
Development
Project|Balance at
1 January
2023
£
167,340
(20,761)
45,302
(16,139)
175,742
24,207
3,707
424
15,143
175
2,367
1,010
793
376,936
328
23,501|Income
£
268,237
83,067
-
-
351,304
-
-
-
-
-
-
-
-
65,098
205
-|As restated
Expenditure
£
(342,763)
(79,570)
-
7,558
(414,775)
(2,296)
-
-
(153)
-
(144)
-
-
(88,397)
-
-|Transfers
in/out
£
3,269
-
5,156
-
8,425
-
-
-
-
-
-
-
-
(8,425)
-
-|Gains/
(Losses)
£
-
-
-
-
-
-
-
-
-
-
-
-
-
5,156
-
-|As restated
Balance at
31 December
2023
£
96,083
(17,264)
50,458
(8,581)
120,696
21,911
3,707
424
14,990
175
2,223
1,010
793
350,368
533
23,501|
|---|---|---|---|---|---|---|
Page 36
Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## **(A Company Limited by Guarantee)**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2024_
## **24. Statement of funds (continued)**
_**Statement of funds - prior year (continued)**_
|DCMS Uniformed
Youth New
Groups Funding
**_Total of funds_**|Balance at
1 January
2023
£
-
448,591
624,333|Income
£
231,479
296,782
648,086|As restated
Expenditure
£
(230,860)
(321,850)
(736,625)|Transfers
in/out
£
-
(8,425)
-|Gains/
(Losses)
£
-
5,156
5,156|As restated
Balance at
31 December
2023
£
619|
|---|---|---|---|---|---|---|
|||||||420,254|
|||||||540,950|
Page 37
Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
**THE GIRLS' BRIGADE ENGLAND AND WALES**
**(A Company Limited by Guarantee)**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2024_
## **24. Statement of funds (continued)**
## **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 properties became known as "Holcot". The property was sold during the year ending 31 March 2002 and the proceeds relating to the original bequest were transferred into a specific restricted fund.
## **Irene Bosworth Friendship fund**
The Irene Bosworth Friendship Fund is 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 geographical locations.
## **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.
## **SLF/YML Income**
This fund is to help open new groups, increase existing groups and recruit and equip new leaders across the London area.
## **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 was given in order to fund work of key staff in developing sustainability for GB moving 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 website and database. Alongside this, further funding under the banner of Reach, enabled GB to grow new and existing groups.
## **DofE**
The DofE Diamond Fund was launched by the Duke of Edinburgh’s Award to celebrate its Diamond Anniversary. It aims 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 packs.
## **Build 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 aims 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 18-30s women looking to explore the Christian faith
- Help to increase the confidence of GB leaders and church members to share their faith at work, school 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 love of God with those around them.
Page 38
Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
**(A Company Limited by Guarantee)**
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2024_
## **24. Statement of funds (continued)**
## **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 accompany films, for use in youth groups.
## **Bristol Development Project**
The Bristol Development Fund was set up by the Bristol District of Girls’ Brigade England & Wales in fund a Development Worker to extend the outreach and mission of Girls’ Brigade in the Bristol area by:
- 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’s local community groups and activities across the Bristol area.
## **DCMS Uniformed Youth New Groups Funding**
The funding is a grant given by the Department of Culture, Media and Sport to support growth in available spaces for young people and the training and recruitment of volunteer leaders.
## **Transfers**
There has been a transfer from restricted to unrestricted funds of £3,905 in relation to branches closed in the period with funds transferred to the charity.
## **25. Summary of funds**
## **Summary of funds - current year**
|General funds
Restricted funds|**As restated**
**Balance at 1**
**January 2024**
**£**
**120,696**
**420,254**
**540,950**|**Income**
**£**
**400,683**
**173,288**
**573,971**|**Expenditure**
**£**
**(411,832)**
**(195,325)**
**(607,157)**|**Transfers**
**in/out**
**£**
**3,905**
**(3,905)**
**-**|**Gains/**
**(Losses)**
**£**
**-**
**9,837**
**9,837**|**Balance at 31**
**December 2024**
**£**
**113,452**
**404,149**|
|---|---|---|---|---|---|---|
|||||||**517,601**|
Page 39
Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## **(A Company Limited by Guarantee)**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2024_
## **25. Summary of funds (continued)**
## **Summary of funds - prior year**
|General funds
Restricted funds|Balance at
1 January
2023
£
175,742
448,591
624,333|Income
£
351,304
296,782
648,086|As restated
Expenditure
£
(414,775)
(321,850)
(736,625)|Transfers
in/out
£
8,425
(8,425)
-|Gains/
(Losses)
£
-
5,156
5,156|As restated
Balance at
31 December
2023
£
120,696
420,254|
|---|---|---|---|---|---|---|
|||||||540,950|
## **26. Analysis of net assets between funds**
## **Analysis of net assets between funds - current period**
|Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Creditors due in more than one year
**_Total_**|**Unrestricted**
**funds**
**2024**
**£**
2,965
7,016
206,353
(91,516)
(11,366)
113,452|**Restricted**
**funds**
**2024**
**£**
-
146,721
257,428
-
-
404,149|**Total**
**funds**
**2024**
**£**
**2,965**
**153,737**
**463,781**
**(91,516)**
**(11,366)**|
|---|---|---|---|
||||**517,601**|
Page 40
Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## **(A Company Limited by Guarantee)**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2024_
## **26. Analysis of net assets between funds (continued)**
## **Analysis of net assets between funds - prior period**
|Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Creditors due in more than one year
**_Total As restated_**|As restated
As restated
Unrestricted
funds
2023
£
1,191
4,317
255,267
(139,625)
(454)
120,696|As restated
Restricted
funds
2023
£
-
139,583
280,671
-
-
420,254|As restated
Total
funds
2023
£
1,191
143,900
535,938
(139,625)
(454)
540,950|
|---|---|---|---|
## **27. Reconciliation of net movement in funds to net cash flow from operating activities**
|Net expenditure for the period (as per Statement of Financial Activities)
**_Adjustments for:_**
Depreciation charges
Amortisation charges
Gains on investments
Dividends and interest from investments
(Increase)/decrease in stocks
Decrease/(increase) in debtors
(Decrease)/ increase in creditors
Pension deficit adjustments
**_Net cash (used in) operating activities_**|**2024**
**£**
**(23,349)**
**926**
**-**
**(9,837)**
**(15,978)**
**(2,954)**
**25,769**
**(44,886)**
**17,171**
**(53,138)**|2023
£
(83,383)
1,992
2,916
(5,156)
(8,231)
7,729
(31,862)
27,411
569
(88,015)|
|---|---|---|
Page 41
Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## **(A Company Limited by Guarantee)**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2024_
## **28. Analysis of cash and cash equivalents**
|Cash in hand
**_Total cash and cash equivalents_**
**Analysis of changes in net debt**
Cash at bank and in hand|**At 1 January**
**2024**
**£**
**408,345**
**408,345**|**2024**
**£**
**359,003**
**359,003**
**Cash flows**
**£**
**(49,342)**
**(49,342)**|As restated
2023
£
408,345|
|---|---|---|---|
|||||
||||408,345|
||||**At 31**
**December**
**2024**
**£**
**359,003**|
||||**359,003**|
## **29. Analysis of changes in net debt**
## **30. Pension commitments**
Pensions Trust Growth Plan
The company participates in the scheme, a multi-employer scheme which provides benefits to some 521 nonassociated 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 accounts for the scheme as a defined contribution scheme.
The charge to the statement of financial activities in respect of the scheme was £17,171 (2023: £11,430). Amounts owed at year end were £16,270 (2023: £8,581) which and held within creditors.
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 schemes 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 employers 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 2023. This valuation showed assets of £514.9m, liabilities of £531.0m and a deficit of £16.1m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:
Page 42
Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
**(A Company Limited by Guarantee)**
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2024_
## **30. Pension commitments (continued)**
Unless a concession has been agreed with the Trustee the term to 31 March 2028 applies.
Note that the scheme’s previous valuation was carried out with an effective date of 30 September 2020. This valuation showed assets of £800.3m, liabilities of £831.9m and a deficit of £31.6m. To eliminate this funding shortfall, the Trustee asked the participating employers to pay additional contributions to the scheme as follows:
The recovery plan contributions are allocated to each participating employer in line with their estimated share of the Series 1 and Series 2 scheme liabilities. Where the scheme is in deficit and where the company has agreed to a deficit funding arrangement the company 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.
Page 43
Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
**(A Company Limited by Guarantee)**
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2024_
## **30. Pension commitments (continued)**
Page 44
Document ID: f0faf741480a05d06d2fd69ad26b5ddc5c129ed2328276cd25a476136fd6b892
**(A Company Limited by Guarantee)**
## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2024_
## **30. Pension commitments (continued)**
The discount rates shown above are the equivalent single discount rates 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 details the deficit contributions agreed between the company and the scheme at each year end period:
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 2024 the charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:
|Not later than 1 year
Later than 1 year and not later than 5 years|**2024**
**£**
**1,163**
**2,616**
**3,779**|2023
£
41,438
3,779|
|---|---|---|
||||
|||45,217|
## **32. Related party transactions**
The company owns 100% of its subsidary GBEW Trading Limited. During the year this subsidary ceased trading. Prior to cessation, expenditure was recharged of £1,500 (2023: £3,000) to the subsidiary company. At 31 December 2023 amounts totalling £87,519 were included in debtors owed to the parent charitable company. This balance was after a provision has been made of £19,328, which is the portion of the balance which was deemed to be irrecoverable. Details of trustees' remuneration and transactions are detailed in note 15.
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## **THE GIRLS' BRIGADE ENGLAND AND WALES**
## **(A Company Limited by Guarantee)**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2024_
## **33. Merger accounting**
In the year, GBEW Trading Limited ceased trading and its assets and liabilities were transferred to The Girls' Brigade England and Wales. To present a true and fair view, the 2023 comparative figures in these financial statements combine the results of GBEW Trading and The Girls' Brigade England and Wales.
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