Charity registration number 289590 (England and Wales)
THE ASSOCIATION OF GUILDS OF WEAVERS, SPINNERS AND DYERS ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE ASSOCIATION OF GUILDS OF WEAVERS, SPINNERS AND DYERS
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
A Easey J Crowther L Fidler A Martin J Maher L Shannon M England C Knowles K Johnston J Monk J Matthews A Lawrence
(Appointed 8 June 2024) (Appointed 8 June 2024) (Appointed 8 June 2024)
Charity number (England and Wales) 289590 Independent examiner PM+M Solutions for Business LLP New Century House Greenbank Technology Park Challenge Way Blackburn Lancashire BB1 5QB
THE ASSOCIATION OF GUILDS OF WEAVERS, SPINNERS AND DYERS
CONTENTS
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Page
Trustees' report 1 - 6
Independent examiner's report 7
Statement of financial activities 8
Balance sheet 9
Notes to the financial statements 10 - 15
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THE ASSOCIATION OF GUILDS OF WEAVERS, SPINNERS AND DYERS
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their annual report and financial statements for the year ended 31 December 2024.
The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and Aims
The Association of Guilds of Weavers, Spinners and Dyers constitution (AGWSD) states its objectives as follows:
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The preservation and improvement of craftsmanship in hand weaving, spinning and dyeing, for the benefit of the public.
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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.
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The Foundation Certificate, initially for spinning is being developed for Natural Dyeing and for Weaving,
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The Certificate of Achievement offered in five associated subjects; and
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The Certificate in Advanced Textile Studies for those who wish to pursue and research at a high level.
Production of a quarterly journal.
Public Benefit
The Association organises a biennial National Exhibition and Conference, with a Summer School on the alternate year, these are open to members of affiliated and associate guilds and to members of the public. The Association also maintains a presence at the major craft exhibitions throughout the country and member guilds similarly hold local exhibitions and demonstrations. Information concerning the AGWSD and the member guilds is available at events and through the AGWSD website, and the member guilds' websites.
Work is continuing on developing the educational programme through the Foundation Certificates, the Certificates of Achievement and the Certificate in Advanced Textile Studies.
The Association publishes a quarterly magazine, "The Journal for Weavers, Spinners and Dyers" which is on sale to guild members and the public.
The Trustees of the Association of Guilds of Weavers, Spinners and Dyers believe they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission.
ACHIEVEMENT AND PERFORMANCE
The Association currently has 117 affiliated member guilds plus 1 associated (overseas) Guild. The guilds' members now total 5,399. It should be noted that, although we undertake detailed five-year financial forecasting and planning, it is recognised that certain aspects of fulfilling our main educational aims – Certificates (Foundation Certificate, Certificate of Achievement and Certificate in Advanced Textile Studies), Stuart Groom Memorial Library and our biennial National Exhibition - are not self-financing and therefore effectively partially subsidised by Association reserves, but largely by the vital importance of volunteer ‘gift time’, both within the Guilds and the Association, which is donated by members at all levels of expertise with a wide range of both textile, practical and administrative talents. Without this personal commitment, the Association could not continue to offer the current wide range of activities for such a modest affiliation fee.
We were able to keep our activities going thanks to the flexibility, patience and wonderful ‘can-do’ attitude of our volunteers and of our member guilds, for which we are very grateful.
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THE ASSOCIATION OF GUILDS OF WEAVERS, SPINNERS AND DYERS
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
Area Links
Regular communications between five Area Links, who are members of the GPC, and the guilds in their ‘area’ take place via zoom, five times a year based around the timings of the GPC meetings and AGWSD AGM. The Area Links hold their own group zoom meetings to share and collate information from and to the guilds, the AGWSD Chair and Vice Chair attend these meetings to give support and to aid communications. This has developed well over the past year, with guilds working together for events developed through the Area Link meetings.
Monthly Newsletter
The AGWSD News continues to play a significant part in the communications between the GPC, the JEC and members of all the affiliated and associate guilds. It is emailed to all guild secretaries monthly for forwarding to their guild members. The News includes information of a more time sensitive nature, such as guild events. There is a rolling programme of ‘from the guilds’ where guilds can celebrate their events, information about the GPC and the members, its work and is used as a way of promoting all the AGWSD has to offer to member guilds.
Biennial National Conference
The biennial conference, ‘The Riches of Wool’, took place at Bicton College. The event was fully subscribed and proved to be a successful weekend due to the capabilities of the team that managed the event.
Biennial National Exhibition
The Association's Biennial Exhibition was held between 14[th] and 27[th] October at Hay Castle in Hay on Wye. There were 107 selected items and 173 notebooks on display. Everyone agreed that the quality of work was outstanding, a true reflection of the skills within our community. Many of our member guilds were represented, both with display items and in visitors. The daily total of between 80 and 100 visitors delighted our hosts. Massive thanks are due to the committee of volunteers who worked hard during the year to ensure that everything went smoothly. From finding a suitable venue to the logistics of managing the large number of items (receiving them, hanging them and then returning them to the owners) required a great deal of planning and attention to detail, as did managing the daily rota of volunteer demonstrators.
Biennial Summer School
Preparation for the 2025 Summer School to be held at Queen Margaret University in August 2025 has started in earnest.
Looking ahead to 2026 and to 2027, work is already in progress to find venues for the biennial events in these years.
The Certificates
The Foundation Certificates concept was developed to meet the learning needs of members who were either new to Guilds or who wanted to extend their skills, and for whom the Certificate of Achievement seemed too big a step. The first, the Foundation Certificate in Spinning, was piloted in 2016 and launched fully in 2017. Since then,60 students have been awarded the Foundation Certificate and there are 52 students currently studying. In 2020 the Foundation Certificate was submitted successfully for accreditation to the Textile Institute and from September 2021 is an approved course with credit. There are currently 15 mentors supporting the active students. The second, the Foundation Certificate in Natural Dyeing was launched with a pilot in May 2019. The pilot is complete, and the syllabus is being reviewed based on feedback from students and mentors. A revised certificate will be relaunched later in the year. The syllabus for the Foundation Certificate in Weaving is in early draft form.
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THE ASSOCIATION OF GUILDS OF WEAVERS, SPINNERS AND DYERS
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
The Certificate of Achievement (CoA)
The CoA continues to provide a broad and balanced series of five syllabi that can be undertaken by members of the affiliated and associate guilds. It is self-directed learning with emphasis on the student undertaking to seek out the best information for their selected syllabus. The CoA Handbook was revised for 2024 with clearer information, additional images, and an appendix giving examples of the use of level descriptors/indicators used for the assessment process.
Fourteen students registered for the CoA in 2024, which is a significant decrease on 2023. The cost for registering for the CoA remains at £40. Bursaries are available on application to the CoA coordinator ratified by the GPC, for financial help for the student to attend a course for furthering their learning.
An annual review of the registered students indicates there is a dropout rate, not unusual in such self-directed learning, there are some students who are taking a break, there remains on average 50 students who are actively engaged in the process. The Current CoA Coordinator gives support when requested, there is a closed Facebook Group that is used for group support.
One student put their work forward for assessment at the conference 2024. Unfortunately, the student had to pull out at the last minute due to ill health, from the assessment process in July. The assessment was facilitated by post and zoom in the autumn, the student receiving a Distinction in Tapestry Weaving.
The assessment process is undertaken by professionals in the given technique. The moderator has extensive knowledge of the assessment process as well as knowledge of the techniques.
The Certificate on Advanced Textile Studies (CATS)
CATS is based on the student’s individual research idea, the ‘Statement of Intent’, based around spinning, weaving or dyeing. CATS has an outline modular system, so that progress can be supported, and further avenues of research undertaken within the guidelines given.
CATS has three students currently enrolled, they continue to research their given areas. They are supported by the CATS coordinator depending on their individual requirements, one has ongoing face to face support every few months, which helps the exploration of ideas and opens avenues for exploration. Support is offered to each CATS student and is taken up as required.
The current CoA and CATS coordinator is a professional teacher working on a volunteer basis.
In line with the AGWSD educational remit, the registration costs and assessment costs for the students have not increased for both the Certificate of Achievement and the Certificate in Advanced Textile.
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THE ASSOCIATION OF GUILDS OF WEAVERS, SPINNERS AND DYERS
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
The Journal WSD
The Journal WSD supports the Association's educational purpose. During 2024 the Journal Editorial Committee fulfilled its plan to produce 4 issues; to continue to improve administrative processes; and to maintain income from subscriptions, sales and advertising. The unit cost of a subscription was reviewed taking into account postage, resulting in a price increase to take effect from the start of 2025.
The Journal content during the year included instructional articles as well as disseminating Association news that was not covered in the Association Newsletter. The Journal also included exhibition reviews; news of developments and initiatives in the areas of spinning, weaving and dyeing; book reviews; and diary listings of courses, exhibitions and Guild open days and events.
The constitutional requirement for Journal posts to be held for a maximum of five years ensures that there are fresh approaches and new ideas but it also makes the recruitment of committee members a constant necessity that is a permanent challenge. The year saw some unexpected resignations but also the arrival of new faces. Despite lacking its full complement of volunteers, the Journal Editorial Committee continues to produce a high-quality publication thanks to the hard work and commitment of its members.
As rail strikes become a thing of the past and members are more willing to travel, at least in the summer and autumn months, the pattern has continued of holding two face to face meetings in London with an online option for those unable to travel together with two meetings held entirely online. The opportunity for members to meet face to face is invaluable in building a strong team and outweighs the financial costs of travel and room hire.
Stuart Groom Memorial Library
The AGWSD Stuart Groom Memorial Library of books and journals has been developed over years from books given for review and donations. Historically, the library functioned through the goodwill of volunteers who housed the books and organised lending from their homes. The library moved several times between volunteers. The AGWSD had been looking for some time to find a permanent home for the library. We now have a partner in the Trowbridge Museum, based in an old woollen mill and dedicated to preserving the history of wool spinning and weaving in the area. They now house the library adjacent to their own books and have administered the library since March 2023.
There are currently 40 guild members who have registered for library cards.
Jennie Parry Graduate Showcase
Four Graduates in weaving exhibited their work at the 2024 Conference at Bicton College. Their work was exceptional and was very well received by those attending the Conference. The Graduates are encouraged to write for the Journal as well as becoming more involved with the Association though the Online Guild. The AGWSD gives financial supports the graduates by supporting their exhibition costs.
FINANCIAL REVIEW
Reserves policy
The Association of Guilds of Weavers, Spinners and Dyers has a policy to hold free reserves equal to a minimum of 18 months' running costs to enable association activities and journal production to continue until subscription income is received. The trustees have estimated the target level of free reserves to be £170,000. Free reserves at 31 December 2024 amounted to £271,690 (2023 - £267,591). The trustees will take measures to maintain the reserves at the target level.
Designated reserves totalling £17,477 (2023 - £17,984) are held for the purposes of providing bursaries to eligible attendees of the Summer School or Conference which are held biennially and for providing bursaries towards the studies for eligible Certificate of Achievement students.
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THE ASSOCIATION OF GUILDS OF WEAVERS, SPINNERS AND DYERS
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Association of Guilds of Weavers, Spinners and Dyers is an unincorporated association governed by a constitution adopted on 28 April 1984 as amended on 27 April 1991, 4 April 1998, 6 April 2002, 16 April 2007, 12 April 2008, 2 April 2011, 13 April 2013, 18 April 2015, 22 April 2017, 6 April 2019, 1 May 2020 and 19 June 2021.
Recruitment and appointment of new trustees
The trustees are elected by association members at the Annual General Meeting.
The General Purposes Committee consists of the 4 Honorary Officers and not less than 2 nor more than 12 members elected at the Annual General Meeting and no more than 3 members can be co-opted to the committee. The chairman and treasurer of the Journal Editorial Committee are additional members of the General Purposes Committee.
The Journal Editorial Committee consists of a maximum of 18 and normally a minimum of 8 members elected at the Annual General Meeting and no more than 4 members can be co-opted to the committee. One of the members is elected by General Purposes Committee from its own members.
Trustees
| Trustees | ||
|---|---|---|
| J Crowther | Chair | |
| J Maher | Vice Chair | |
| M England | HonorarySecretary | |
| C Chisholm | HonoraryTreasurer | Resigned 08/06/2024 |
| A Easey | ||
| A Johnson | Resigned 30/06/2024 | |
| A Martin | ||
| C Knowles | ||
| C Snape | Resigned 30/03/2024 | |
| K Johnston | ||
| L Fidler | ||
| L Shannon | ||
| J Matthews | Elected 08/06/2024 | |
| J Monk | Elected 08/06/2024 | |
| A Lawrence | Elected 08/06/2024 |
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
289590
Principal address Montrose Tower Road Ashley Heath TF9 4PU
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THE ASSOCIATION OF GUILDS OF WEAVERS, SPINNERS AND DYERS
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees' report was approved by the Board of Trustees.
Janet E Crowther
J Crowther Chair
7 June 2025
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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
I report to the trustees on my examination of the financial statements of The Association of Guilds of Weavers, Spinners and Dyers (the charity) for the year ended 31 December 2024.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
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 that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011.
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination.
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 financial statements to be reached.
Dean Rodgers ACA PM+M Solutions for Business LLP New Century House Greenbank Technology Park Challenge Way Blackburn Lancashire BB1 5QB
Dated: 7 June 2025
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THE ASSOCIATION OF GUILDS OF WEAVERS, SPINNERS AND DYERS
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 2 | 2,087 | 4,530 |
| Charitable activities | 3 | 90,370 | 263,051 |
| Other trading activities | 4 | 10,404 | 8,929 |
| Investments | 5 | 4,685 | 3,561 |
| Total income | 107,546 | 280,071 | |
| Expenditure on: | |||
| Charitable activities | 6 | 105,570 | 265,307 |
| Total expenditure | 105,570 | 265,307 | |
| Net gains/(losses) on investments | 9 | 1,616 | 953 |
| Net income and movement in funds | 3,592 | 15,717 | |
| Reconciliation of funds: | |||
| Fund balances at 1 January 2024 | 285,575 | 269,858 | |
| Fund balances at 31 December 2024 | 289,167 | 285,575 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 10 to 15 form part of these financial statements.
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THE ASSOCIATION OF GUILDS OF WEAVERS, SPINNERS AND DYERS
BALANCE SHEET
AS AT 31 DECEMBER 2024
| 2024 Notes £ Fixed assets Intangible assets 10 Current assets Stocks 11 470 Debtors 12 34,822 Investments 13 18,324 Cash at bank and in hand 345,140 398,756 Creditors: amounts falling due within one year 14 (115,512) Net current assets Total assets less current liabilities The funds of the charity Unrestricted funds 15 |
£ 5,923 283,244 289,167 289,167 289,167 |
2023 £ 485 4,727 16,771 297,837 319,820 (46,090) |
£ 11,845 273,730 |
|---|---|---|---|
| 285,575 | |||
| 285,575 | |||
| 285,575 |
The notes on pages 10 to 15 form part of these financial statements.
The financial statements were approved by the trustees on 7 June 2025
Janet E Crowther
J Crowther Chair
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THE ASSOCIATION OF GUILDS OF WEAVERS, SPINNERS AND DYERS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
Charity information
The Association of Guilds of Weavers, Spinners and Dyers is an unincorporated registered charity.
1.1 Accounting convention
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Financial reporting standard 102 - reduced disclosure exemptions
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
1.2 Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Subscriptions for The Journal for WSD are recognised on a receipts basis.
Affiliation fees, journal advertising and event income is recognised on an accruals basis with amounts received in advance being taken to deferred income in the balance sheet.
Bank interest is recognised when receivable.
1.3 Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefit will be required in settlement and the amount of the obligation can be measured reliably.
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Expenditure includes any VAT which is not fully recoverable.
1.4 Intangible fixed assets other than goodwill
Identifiable development expenditure in respect of income generating websites is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
Amortisation is recognised so as to write off the cost of intangible fixed assets over their useful lives on the following bases:
Website
33.3% straight line
1.5 Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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THE ASSOCIATION OF GUILDS OF WEAVERS, SPINNERS AND DYERS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
(Continued)
1.6 Taxation
The charity is exempt from tax on its charitable activities.
1.7 Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Designated funds are those set aside by the trustees to be used for particular purposes in the future.
2 Donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Donations | 2,087 | 4,530 |
3 Income from charitable activities
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Association | ||
| Retail sales | 15 | 15 |
| Summer school | - | 197,353 |
| Affiliation fees | 25,509 | 23,976 |
| Conference income | 25,267 | - |
| Certificates | 3,580 | 3,085 |
| Exhibition fees | 2,862 | - |
| The Journal | ||
| Journal subscription | 32,090 | 36,543 |
| Retail sales | 1,047 | 2,079 |
| 90,370 | 263,051 |
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THE ASSOCIATION OF GUILDS OF WEAVERS, SPINNERS AND DYERS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
4 Income from other trading activities
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Advertising income | 10,374 | 8,330 |
| Other income | 30 | 599 |
| Other trading activities | 10,404 | 8,929 |
5 Investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Bank interest received | 4,685 | 3,561 |
6 Charitable activities
| Association The 2024 Depreciation and amortisation - Bursaries 508 Summer school - Insurance 6,600 Certificates 1,156 Miscellaneous 30 Conference 22,244 Bank charges 61 Website and software 3,890 Meeting costs 10,282 Journal production - Exhibition 4,701 Library 746 Graduate showcase 821 51,039 Governance costs 2,460 53,499 |
Journal 2024 5,922 - - - - 260 - 1,785 684 1,441 39,519 - - - 49,611 2,460 52,071 |
Total 2024 Association The 2023 5,922 - 508 - - 182,011 6,600 6,495 1,156 3,162 290 600 22,244 - 1,846 231 4,574 1,450 11,723 12,568 39,519 - 4,701 - 746 754 821 1,440 100,650 208,711 4,920 2,777 105,570 211,488 |
Journal 2023 5,922 - - - - 9 - 1,631 1,006 2,234 40,636 - 16 - 51,454 2,365 53,819 |
Total 2023 5,922 - 182,011 6,495 3,162 609 - 1,862 2,456 14,802 40,636 - 770 1,440 |
|---|---|---|---|---|
| 260,165 5,142 |
||||
| 265,307 |
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THE ASSOCIATION OF GUILDS OF WEAVERS, SPINNERS AND DYERS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
7 Trustees
During the year, 15 trustees (2023 - 12 trustees) were paid expenses, as follows:
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£3,287 (2023 - £4,911) for travelling;
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£202 (2023 - £783) for printing, postage and stationery;
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£325 (2023 - £552) for other expenses.
Apart from the above, the trustees were not remunerated during the year or the previous period.
8 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
9 Net gains/(losses) on investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Gain/(loss) on investments | 1,616 | 953 |
| Intangible fixed assets | ||
| Website | ||
| £ | ||
| Cost | ||
| At 1 January 2024 and 31 December 2024 | 17,767 | |
| Amortisation and impairment | ||
| At 1 January 2024 | 5,922 | |
| Amortisation charged for the year | 5,922 | |
| At 31 December 2024 | 11,844 | |
| Carrying amount | ||
| At 31 December 2024 | 5,923 | |
| At 31 December 2023 | 11,845 |
10 Intangible fixed assets
The development costs of income generating websites are capitalised and subsequently amortised over their estimated useful economic lives of three years.
11 Stocks
| Stocks | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Stocks | 470 | 485 |
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THE ASSOCIATION OF GUILDS OF WEAVERS, SPINNERS AND DYERS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
| 12 Debtors Amounts falling due within one year: Trade debtors Prepayments and accrued income 13 Current asset investments Coloma Wealth 14 Creditors: amounts falling due within one year Deferred income Trade creditors Accrued expenses |
2024 £ 1,090 33,732 34,822 2024 £ 18,324 2024 £ 110,521 12 4,979 115,512 |
2023 £ 700 4,027 |
|---|---|---|
| 4,727 | ||
| 2023 £ 16,771 |
||
| 2023 £ 41,411 - 4,679 |
||
| 46,090 |
15 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 General funds Previous year: At 1 General funds |
January 2024 Incoming resources Resources expended Gains and losses At 31 December 2024 £ £ £ £ £ 285,575 107,546 (105,570) 1,616 289,167 January 2023 Incoming resources Resources expended Gains and losses At 31 December 2023 £ £ £ £ £ 269,858 280,071 (265,307) 953 285,575 |
|---|---|
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THE ASSOCIATION OF GUILDS OF WEAVERS, SPINNERS AND DYERS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
16 Designated funds
Designated reserves totaling £17,477 (2023 - £17,984) are held for the purposes of providing bursaries to certain attendees of the Summer School or Conference, or eligible students studying for the Certificate of Achievement.
17 Related party transactions
There were no related party transactions for the year ended 31 December 2024.
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