REGISTERED CHARITY NUMBER: 289590
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31 December 2021
for
THE ASSOCIATION OF GUILDS OF WEAVERS, SPINNERS AND DYERS
PM+M Solutions for Business LLP
Chartered Accountants
The Old Tannery
Eastgate
Accrington
Lancashire
BB5 6PW
THE ASSOCIATION OF GUILDS OF WEAVERS,
SPINNERS AND DYERS
Contents of the Financial Statements for the Year Ended 31 December 2021
|
Page |
Report of the Trustees |
1 to 4 |
Independent Examiner's Report |
5 |
Statement of Financial Activities |
6 |
Balance Sheet |
7 |
Notes to the Financial Statements |
8 to 14 |
Detailed Statement of Financial Activities |
15 to 16 |
THE ASSOCIATION OF GUILDS OF WEAVERS, SPINNERS AND DYERS
Report of the Trustees for the Year Ended 31 December 2021
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyear ended
31December2021.ThetrusteeshaveadoptedtheprovisionsofAccountingandReportingby Charities:
StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewith the
FinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective1 January
2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Association of Guilds of Weavers, Spinners and Dyers constitution states its objectives as follows:
1.Thepreservationandimprovementofcraftsmanshipinhandweaving,spinninganddyeing,forthe benefit
of the public.
2. The promotion of public awareness and education in such craftsmanship.
Significant activities
The biennial rotation of events: Exhibition, Summer School and Conference (Guilds Gathering) continues.
There are three certificates offered after a course of study to members of the member guilds of the AGWSD.
- The Foundation Certificate, initially for spinning is being developed for Natural Dyeing and for Weaving.
- The Certificate of Achievement offered in five associated subjects and
- The Certificate of Advanced Textile Studies for those who wish to pursue and research at a high level.
Production of a quarterly journal.
Public benefit
TheAssociationorganisesabiennialNationalExhibitionandConferencewithaSummerSchoolon the
alternateyear,theseareopentomembersofaffiliatedandassociateguildsandtomembersofthe public.
TheAssociationalsomaintainsapresenceatthemajorcraftexhibitionsthroughoutthecountryand member
guildssimilarlyholdlocalexhibitionsanddemonstrations.InformationconcerningtheAGWSDand the
member guilds is available at events and through theAGWSD website, and the member guilds' websites.
WorkiscontinuingondevelopingtheeducationalprogrammethroughtheFoundationCertificates, the
Certificates of Achievement and the Certificate in Advanced Textile Studies.
TheAssociationpublishesaquarterlymagazine,TheJournalforWeavers,SpinnersandDyers"The Journal"
which is on open sale to the public.
TheTrusteesoftheAssociationofGuildsofWeavers,SpinnersandDyersbelievetheyhavecompliedwith the
dutyinsection17oftheCharitiesAct2011tohavedueregardtothepublicbenefitguidancepublished by
the Charity Commission.
Page 1
THE ASSOCIATION OF GUILDS OF WEAVERS, SPINNERS AND DYERS
Report of the Trustees for the Year Ended 31 December 2021
ACHIEVEMENT AND PERFORMANCE
TheAssociationcurrentlyhas111memberguildsplus5associated(overseas)Guilds.Theguilds' members
now total 4,912.
Wewereabletokeepouractivitiesgoingthankstotheflexibility,patienceandwonderful'can-do'attitude of
our volunteers and of our member guilds, for which we are very grateful.
Wefullyunderstandthedifficultiesexperiencedbyourmemberguildsduring2021andare continually
lookingatwaysinwhichwecansupportthemgoingforward.Wehavebeenworkinghard on
communications,akeyactionbeingtheintroductionoftheAreaLinks,whoseprimaryfunctionis supporting
andsharinginformationbetweentheGuildsthemselvesandtheAGWSD,usingtoolssuchasvirtual meetings
andthroughtherevisedmonthlyAGWSDNewsbyprovidinginformationandsharinghighlightsfrom the
Guilds.
TheAssociation'sBiennialSummerSchoolwasheldatWhittleUniversityCollege,nearChelmsford, Essex,
from15th- 22ndAugust2021.Itwasattendedby224students(including20non-residential),6 companions,
16tutorsandoneconvenor.The15coursesattendedincludedWeaving(onshaft,inkleandtapestry looms),
Spinning,Dyeing(includingEco-printingandIndigoShibori),Feltmaking,Braiding,StitchingandKnitting, all
tutoredbyexpertsintheirfields.Eveningeventsincludedtwoeducationallectures,astudentsand tutors'
fashionshow,asilentauction,withahalf-daybreakallowedthechancetojoinorganisedlocalvisits. The
TradeFairat theendoftheweekhosted15tradersandOpenDayonthefinalfulldayincludedexhibitions of
CertificateofAchievement,CertificateofAdvancedTextileStudiesandTutors'work.Theeventwas planned,
withprecautionstakeninaccordancewithGovernmentguidelines,topreventanypossiblespreadof the
Covid-19virusarisingfromthegathering,whichprovedeffective.TheSummerSchoolmadea surplus
throughcarefulfinancialbudgeting,fullstudentnumbersandthegenerosityoftheCollegein providing
'economies of scale' savings on classrooms, accommodation, etc.
TheFoundationCertificatesconceptwasdevelopedtomeetthelearningneedsofmemberswhowere either
newtoGuildsorwhowantedtoextendtheirskills,andforwhomtheCertificateofAchievementseemed too
bigastep.Thefirst,theFoundationCertificateinSpinning,waspilotedin2016andlaunchedfullyin 2017.
Sincethen38studentshavebeenawardedtheFoundationCertificateandthereare45studentscurrently. In
2020theFoundationCertificatewassubmittedsuccessfullyforaccreditationtotheTextileInstituteand from
September2021isanapprovedcoursewithcredit.Thesecond,theFoundationCertificateinNatural Dyeing
waslaunchedwithapilotinMay2019.Thepilotiscompleteandthesyllabusisbeingreviewedbased on
feedbackfromstudentsandmentors.Arevisedcertificatewillberelaunchedlaterintheyear. Both
FoundationCertificateshavebeenaffectedbyCovidlockdownasstudentslostface-to-faceaccessto their
Guildsandotherstudents.BorrowingGuildbooksandequipmentwasmadealmostimpossibleand not
seeingfellowcraftershadimpactonmotivation.AlthoughthementorsdidafantasticjobinusingZoom to
keepintouchwithstudents,theoveralleffecthasbeentoslowdowntheprogressofstudents. Generous
extensionshavebeengivenwhenrequested.FoundationCertificatesinweavingandsyntheticdyeing will
follow. The syllabus for the Foundation Certificate in Weaving is in early draft form.
Duringtheyear,14guildmembersregisteredfortheCertificateofAchievement.Areviewofthenumber of
studentsregisterediscurrentlybeingundertaken.FinalassessmentstookplaceattheAGWSD Summer
School2021,therewerethreesubmissions.ThesubmissionsforWeavingandforNaturalDyeingwere both
awardedadistinction,andoneforSpinningwhichwasawardedacredit.Thestudentundertaking the
CertificateinAdvancedTextileStudiesalsosubmittedtheirworkforassessmentatSummerSchool2021, and
wasawardedadistinction.Thereis1studentcurrentlyundertakingtheCertificateinAdvanced Textile
Studies.
Page 2
THE ASSOCIATION OF GUILDS OF WEAVERS, SPINNERS AND DYERS
Report of the Trustees for the Year Ended 31 December 2021
TheJournalEditorialCommitteecontinuedtooperateviaZoommeetingsduring2021andproducedthe four
issuesasusual.TheimpactofGuildsnotbeingabletomeetinpersonhasmeantadeclineinGuild bulk
orders,thoughthisisoffsetfinanciallybyanincreaseinindividualsubscriptionsandOnlineGuildorders. The
committeewasfortunatetorecruitanewTreasurerin2021whospentseveralmonthsshadowingthe interim
Treasurer,whosehelpinsteppinginwasmuchappreciated.TheJECsecretaryretiredin2021andwe have
beenfortunatethatavolunteerhascomeforwardduringtheyeartotakeonthisimportantrole. Maintaining
committeemembershipatagoodlevelisvitalandnewmembersareneededtotraininrolesbefore the
existingmembersretire.Fora publicationwhichreliesonvolunteers,maintainingcontinuityis essential. Much
workhasgoneintoaprojecttodevelopanewwebsitewithincreasedfunctionalitywhichwill improve
efficiencyandmakethebestuseofvolunteertime.Theprojecthasbeendevelopedinconjunction with
AGWSDTrusteesanditishopedthenewwebsitewillbeoperationalbymid-2022.Aspartoftheproject a
detailedanalysisofoperationswascarriedouttoidentifywhereprocessescouldbeautomated.The Journal
finances remained stable over the year, with a small surplus.
TheAGWSDStuartGroomMemorialLibraryofbooksandjournalshasbeendevelopedoveryears from
booksgivenforreviewanddonations.Historically,thelibraryfunctionedthroughthegoodwillof volunteers
whohousedthebooksandorganisedlendingfromtheirhomes.Thelibrarymovedanumberof times
betweenvolunteers.TheAGWSDhasbeenlookingforsometimetofindapermanenthomeforthe library.
WenowhaveapartnerintheTrowbridgeMuseum,basedinanoldwoollenmillanddedicatedto preserving
thehistoryofwoolspinningandweavinginthearea.Theywillhousethelibraryadjacenttotheirown books
andwilladministerthelibrary.WeanticipateopeningtheStuartGroomMemorialLibrarytoguild members
who register for library cards in mid-spring 2022.
FINANCIAL REVIEW
Reserves policy
TheAssociationofGuildsofWeavers,SpinnersandDyershasapolicytoholdfreereservesequalto a
minimumof18monthsrunningcoststoenableassociationactivitiesandjournalproductiontocontinue until
subscriptionincomeisreceived.Thetrusteeshaveestimatedthetargetleveloffreereservestobe £170,000.
Freereservesat31December2021amountedto£265,495(2020-£227,577).Thetrusteeswilltake measures
to maintain the reserves at the target level.
Designatedreservestotalling£20,667(2020-£20,665)areheldforthepurposesofprovidingbursaries to
certainattendeesoftheSummerSchoolwhichisheldbiennially,thenextonetobeheldin2023. These
reservesarealsousedtocoveradditionalcostsfortrainingworkleadinguptoFoundationCertificate and
Certificate of Achievement that exceed the registration fees.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
TheAssociationofGuildsofWeavers,SpinnersandDyersisanunincorporatedassociationgovernedby a
constitutionadoptedon28April1984as amendedon27April1991,4 April1998,6 April2002,16April 2007,
12April2008,2April2011,13April2013,18April2015,22April2017,6April2019,1May2020and 19th
June 2021.
Recruitment and appointment of new trustees
The trustees are elected by association members at the Annual General Meeting.
TheGeneralPurposeCommitteeconsistsofthe4HonoraryOfficersandnotlessthan2normorethan 12
memberselectedattheAnnualGeneralMeetingandnomorethan4memberscanbeco-optedto the
committee.ThechairmanandtreasureroftheJournalEditorialCommitteeareadditionalmembersof the
General Purposes Committee.
TheJournalEditorialCommitteeconsistsofamaximumof18andnormallyaminimumof8members elected
attheAnnualGeneralMeetingandnomorethan3memberscanbeco-optedtothecommittee.Oneof the
members is elected by General Purposes Committee from its own members.
Page 3
THE ASSOCIATION OF GUILDS OF WEAVERS, SPINNERS AND DYERS
Report of the Trustees for the Year Ended 31 December 2021
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 289590
Principal address
Montrose
Tower Road
Ashley Heath
Market Drayton
Shropshire
TF9 4PU
Trustees
J Crowther - Chair
J Maher - Vice Chair
M England - Honorary Secretary
K Batchelor
P Blogg
R Campana
C Chisholm
L Hegarty - resigned 19/06/2021
H Miller
C Powell - end of tenure 19/06/2021
M Scott - end of tenure 19/06/2021
A Johnson
E Day - Treasurer - appointed 19/06/2021
A Martin - appointed 19/06/2021
A Easey - appointed 19/06/2021
L Shannon - appointed 19/06/2021
C Snape - appointed 19/06/2021
L Fidler - JEC Treasurer - appointed 19/06/2021
Independent Examiner
PM+M Solutions for Business LLP
Chartered Accountants
The Old Tannery
Eastgate
Accrington
Lancashire
BB5 6PW
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
....................................................................................
J Crowther - Chair - Trustee
Page 4
Independent Examiner's Report to the Trustees of The Association of Guilds of Weavers, Spinners and Dyers
Independent examiner's report to the trustees of The Association of Guilds of Weavers, Spinners and Dyers
IreporttothecharitytrusteesonmyexaminationoftheaccountsofTheAssociationofGuildsof Weavers,
Spinners and Dyers (the Trust) for the year ended 31 December 2021.
Responsibilities and basis of report
AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsinaccordance with
the requirements of the Charities Act 2011 ('the Act').
IreportinrespectofmyexaminationoftheTrust'saccountscarriedoutundersection145oftheActand in
carryingoutmyexaminationIhavefollowedallapplicableDirectionsgivenbytheCharityCommission under
section 145(5)(b) of the Act.
Independent examiner's statement
Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattention in
connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationto which
attentionshouldbedrawninthisreportinordertoenableaproperunderstandingoftheaccountsto be
reached.
Paul Spencer FCCA
PM+M Solutions for Business LLP
Chartered Accountants
The Old Tannery
Eastgate
Accrington
Lancashire
BB5 6PW
Date: .............................................
Page 5
THE ASSOCIATION OF GUILDS OF WEAVERS, SPINNERS AND DYERS
Statement of Financial Activities for the Year Ended 31 December 2021
2021
Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
2,187
Charitable activities
The Journal
44,475
Association
155,488
Other trading activities
3
12,259
Investment income
4
478
Total
214,887
EXPENDITURE ON
Charitable activities
5
The Journal
46,679
Association
132,923
Other
-
Total
179,602
Net gains/(losses) on investments
2,635
NET INCOME
37,920
RECONCILIATION OF FUNDS
Total funds brought forward
248,242
TOTAL FUNDS CARRIED FORWARD
286,162 |
2020
Total
funds
£
2,538
45,023
44,870
13,365
1,092 |
|
106,888
45,135
36,977
1,986 |
|
84,098
(2,178) |
|
20,612
227,630 |
|
248,242 |
The notes form part of these financial statements
Page 6
THE ASSOCIATION OF GUILDS OF WEAVERS, SPINNERS AND DYERS
Balance Sheet 31 December 2021
2021
Unrestricted
funds
Notes
£
CURRENT ASSETS
Stocks
10
560
Debtors
11
6,539
Investments
12
18,683
Cash at bank and in hand
281,076
306,858
CREDITORS
Amounts falling due within one year
13
(20,696)
NET CURRENT ASSETS
286,162
TOTAL ASSETS LESS CURRENT LIABILITIES
286,162
NET ASSETS
286,162
FUNDS
14
Unrestricted funds:
Association
128,069
Summer school bursaries
20,667
The Journal
137,426
286,162
TOTAL FUNDS
286,162 |
2020
Total
funds
£
560
9,862
16,048
294,498 |
|
320,968
(72,726) |
|
248,242 |
|
248,242 |
|
248,242 |
|
99,037
20,665
128,540 |
|
248,242 |
|
248,242 |
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
............................................. and were signed on its behalf by:
.............................................
J Crowther - Chair - Trustee
The notes form part of these financial statements
Page 7
THE ASSOCIATION OF GUILDS OF WEAVERS, SPINNERS AND DYERS
Notes to the Financial Statements for the Year Ended 31 December 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingby Charities:
StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsin accordance
withtheFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS102) (effective
1January2019)',FinancialReportingStandard102'TheFinancialReportingStandardapplicablein the
UKandRepublicofIreland'andtheCharitiesAct2011.Thefinancialstatementshavebeen prepared
under the historical cost convention.
Financial reporting standard 102 - reduced disclosure exemptions
Thecharityhastakenadvantageofthefollowingdisclosureexemptionsinpreparingthese financial
statements,aspermittedbyFRS102'TheFinancialReportingStandardapplicableintheUK and
Republic of Ireland':
the requirements of Section 7 Statement of Cash Flows.
Income
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementto the
funds, it is probable that the income will be received and the amount can be measured reliably.
Subscriptionsarerecognisedonanaccrualsbasiswithamountsreceivedinadvancebeingtaken to
deferred income in the balance sheet.
Bank interest is recognised when receivable.
Sales of services are included in the Statement of Financial Activities in the period to which they relate.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation
committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswill be
requiredinsettlementandtheamountoftheobligationcanbemeasuredreliably.Expenditure is
accountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregateall cost
relatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadingsthey have
beenallocatedtoactivitiesonabasisconsistentwiththeuseofresources.Expenditureincludes any
VAT which is not fully recoverable.
Stocks
Stocksarevaluedat thelowerofcostandnetrealisablevalue,aftermakingdueallowancefor obsolete
and slow moving items.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestrictedfundsareavailableforuseatthediscretionofthetrusteesinfurtheranceofthe general
objectives of the charity.
Designated funds are those set aside by the trustees to be used for particular purposes in the future.
Restricted funds can only be used for particular restricted purposes as laid down by the donor.
continued...
Page 8
THE ASSOCIATION OF GUILDS OF WEAVERS, SPINNERS AND DYERS
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
2. DONATIONS AND LEGACIES
Donations
3.
OTHER TRADING ACTIVITIES
Advertising income
Conference income
Other income
4.
INVESTMENT INCOME
Dividends received
Bank interest receivable
5.
CHARITABLE ACTIVITIES COSTS
The Journal
Association
6.
DIRECT COSTS OF CHARITABLE ACTIVITIES
Travel, journal, exhibition and miscellaneous
Promotional expenses
Computer expenses
Summer school expenses and bursaries
Insurance
Certificates of achievement
Printing, stationery, and advertising
Conference expenses
Bank charges
Website registration and hosting |
Direct
Costs (see
note 6)
£
44,825
131,069
175,894 |
2021
£
2,187
2021
£
10,611
-
1,648
12,259
2021
£
-
478
478
Support
costs (see
note 7)
£
1,854
1,854
3,708
2021
£
43,050
1,023
613
117,234
5,957
5,345
306
-
1,238
1,128
175,894 |
2020
£
2,538
2020
£
13,269
96
-
13,365
2020
£
119
973
1,092
Totals
£
46,679
132,923 |
2020
£
2,538
2020
£
13,269
96
- |
2020
£
2,538 |
|
|
|
|
13,365 |
|
|
|
|
|
|
2020
£
119
973 |
|
|
|
|
|
1,092 |
|
|
|
179,602 |
|
|
|
|
|
2020
£
43,406
590
723
-
5,972
1,682
1,557
19,469
916
2,717 |
|
|
|
|
|
77,032 |
|
|
continued...
Page 9
THE ASSOCIATION OF GUILDS OF WEAVERS, SPINNERS AND DYERS
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
7. SUPPORT COSTS
SUPPORT COSTS |
|
|
|
|
|
|
|
|
Governance |
|
|
|
|
costs |
|
|
|
|
£ |
The Journal |
|
|
|
1,854 |
Association |
|
|
|
1,854 |
|
|
|
|
3,708 |
Support costs, included in the above, are as follows: |
|
|
|
|
|
|
|
2021 |
2020 |
|
The |
|
Total |
Total |
|
Journal |
Association |
activities |
activities |
|
£ |
£ |
£ |
£ |
Independent examiner fee |
1,854 |
1,854 |
3,708 |
5,080 |
8. TRUSTEES' REMUNERATION AND BENEFITS
The trustees were not remunerated during the year ended 31 December 2021 or the previous period.
Trustees' expenses
Duringtheyear9trustees(2020-11trustees)werepaidexpensestotalling£34(2020-£70) for
printing,postageandstationery,£612(2020- £899)fortravellingand£2,339(2020- £1,750)for other
expenses.
9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
|
Unrestricted |
|
funds |
|
£ |
INCOME AND ENDOWMENTS FROM |
|
Donations and legacies |
2,538 |
Charitable activities |
|
The Journal |
45,023 |
Association |
44,870 |
Other trading activities |
13,365 |
Investment income |
1,092 |
Total |
106,888 |
EXPENDITURE ON |
|
Charitable activities |
|
The Journal |
45,135 |
Association |
36,977 |
Other |
1,986 |
Total |
84,098 |
Net gains/(losses) on investments |
(2,178) |
NET INCOME |
20,612 |
continued...
Page 10
THE ASSOCIATION OF GUILDS OF WEAVERS, SPINNERS AND DYERS
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
10.
STOCKS
Stocks
11.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Prepayments and accrued income
12.
CURRENT ASSET INVESTMENTS
Coloma Wealth
13.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Accrued expenses
Deferred income |
|
2021
£
560
2021
£
301
6,238
6,539
2021
£
18,683
2021
£
-
3,709
16,987
20,696 |
Unrestricted
funds
£
227,630
248,242
2020
£
560
2020
£
2,301
7,561
9,862
2020
£
16,048
2020
£
245
3,602
68,879
72,726 |
|
|
|
|
continued...
Page 11
THE ASSOCIATION OF GUILDS OF WEAVERS, SPINNERS AND DYERS
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
14. MOVEMENT IN FUNDS
Unrestricted funds
Association
Summer school bursaries
The Journal
TOTAL FUNDS
Net movement in funds, included in the above
Unrestricted funds
Association
Summer school bursaries
The Journal
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
Association
Summer school bursaries
The Journal
TOTAL FUNDS |
are as follows:
Incoming
resources
£
159,320
2
55,565
214,887
214,887
At 1.1.20
£
92,187
20,720
114,723
227,630
227,630 |
At 1.1.21
£
99,037
20,665
128,540
248,242
248,242
Resources
expended
£
(132,923)
-
(46,679)
(179,602)
(179,602)
Net
movement
in funds
£
6,730
65
13,817
20,612
20,612 |
Net
movement
At
in funds
31.12.21
£
£
29,032
128,069
2
20,667
8,886
137,426
37,920
286,162
37,920
286,162
Gains and
Movement
losses
in funds
£
£
2,635
29,032
-
2
-
8,886
2,635
37,920
2,635
37,920
Transfers
between
At
funds
31.12.20
£
£
120
99,037
(120)
20,665
-
128,540
-
248,242
-
248,242 |
|
|
|
|
continued...
Page 12
THE ASSOCIATION OF GUILDS OF WEAVERS, SPINNERS AND DYERS
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
14. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
Association
Summer school bursaries
The Journal
TOTAL FUNDS |
Incoming
resources
£
47,871
65
58,952
106,888
106,888 |
Resources
expended
£
(38,963)
-
(45,135)
(84,098)
(84,098) |
Gains and
Movement
losses
in funds
£
£
(2,178)
6,730
-
65
-
13,817
(2,178)
20,612
(2,178)
20,612 |
|
|
|
|
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
Association
Summer school bursaries
The Journal
TOTAL FUNDS |
At 1.1.20
£
92,187
20,720
114,723
227,630
227,630 |
Net
movement
in funds
£
35,762
67
22,703
58,532
58,532 |
Transfers
between
funds
£
120
(120)
-
-
- |
At
31.12.21
£
128,069
20,667
137,426 |
|
|
|
|
286,162 |
|
|
|
|
286,162 |
Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedin the
above are as follows:
Unrestricted funds
Association
Summer school bursaries
The Journal
TOTAL FUNDS |
Incoming
resources
£
207,191
67
114,517
321,775
321,775 |
Resources
expended
£
(171,886)
-
(91,814)
(263,700)
(263,700) |
Gains and
Movement
losses
in funds
£
£
457
35,762
-
67
-
22,703
457
58,532
457
58,532 |
|
|
|
|
Designatedreservestotalling£20,667(2020-£20,665)areheldforthepurposesofproviding bursaries
tocertainattendeesoftheSummerSchoolwhichisheldbiennially,thenextonetobeheldin 2023.
Thesereservesarealsousedtocoveradditionalcostsfortrainingworkleadinguptothe Foundation
Certificate and Certificate of Achievement that exceed the registration fees.
continued...
Page 13
THE ASSOCIATION OF GUILDS OF WEAVERS, SPINNERS AND DYERS
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
15. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2021.
Page 14
THE ASSOCIATION OF GUILDS OF WEAVERS, SPINNERS AND DYERS
Detailed Statement of Financial Activities for the Year Ended 31 December 2021
INCOME AND ENDOWMENTS
Donations and legacies
Donations
Other trading activities
Advertising income
Conference income
Other income
Investment income
Dividends received
Bank interest receivable
Charitable activities
Journal subscriptions
Summer school
Affiliation fees
Certificates of achievement
Conference income
Total incoming resources
EXPENDITURE
Charitable activities
Travel expenses- committee
Exhibition expenses
Miscellaneous expenses
Journal printing, design and packaging
Promotional expenses
Computer expenses
Summer school expenses and bursaries
Insurance
Certificates of achievement
Printing, stationery, and advertising
Conference expenses
Bank charges
Website registration and hosting |
2021
£
2,187
10,611
-
1,648
12,259
-
478
478
44,475
141,089
12,257
2,142
-
199,963
214,887
612
-
1,034
41,404
1,023
613
117,234
5,957
5,345
306
-
1,238
1,128
175,894 |
2020
£
2,538
13,269
96
- |
|
|
13,365
119
973 |
|
|
1,092
45,023
-
24,101
1,460
19,309 |
|
|
89,893 |
|
|
106,888
2,370
369
20,480
20,187
590
723
-
5,972
1,682
1,557
19,469
916
2,717 |
|
|
77,032 |
This page does not form part of the statutory financial statements
Page 15
THE ASSOCIATION OF GUILDS OF WEAVERS, SPINNERS AND DYERS
Detailed Statement of Financial Activities for the Year Ended 31 December 2021
Detailed Statement of Financial Activities
for the Year Ended 31 December 2021 |
|
|
Charitable activities
Other
AGM travelling expenses
AGM expenses
Support costs
Governance costs
Independent examiner fee
Total resources expended
Net income before gains and losses
Gains and losses on investments
Unrealised gains/(losses) on investments
Net income |
2021
£
-
-
-
3,708
179,602
35,285
2,635
37,920 |
2020
£
302
1,684 |
|
|
1,986
5,080 |
|
|
84,098 |
|
|
22,790
(2,178) |
|
|
20,612 |
This page does not form part of the statutory financial statements
Page 16