GIRLGUIDING CYMRU Charity number: 521209 GIRLGUIDING CYMRU TRUSTEES, REPORT AND FINANCIAL STATEMENTS / ADRODDIAD YR YMDDIRIEDOLWYR A DATGANIADAU ARIANNOL FOR THE YEAR ENDED 31 MARCH 20241 AR GYFER Y FLWYDDYN A DDAETH I BEN AR 31 MAWRTH 2024 Girlguiding Cymru Page11
GIRLGUIDING CYMRU CONTENTS Reference and administrative details of the charity, its trustees and advisers I Manylion cyfeiriadurol a gweinyddol yr elusen, ei hymddiriedolwyr a'i chynghorwyr Chief Commissioner's Statement English Trustee's report l Adroddiad yr Ymddiriedolwyr Saesneg 6-10 Independent auditors, report l Adroddiad archwilwyr annibynnol 11-13 Consolidated statement of financial activities l Datganiad cyfunol o weithg8reddau ariannol 14 Consolidated balance sheet l Mantolen gyfunol 15 Charity balance sheet l Mantolen yr elusen 16 Consolidated statement of cash flows 17 Notes to the financial statements l Nodiadau ynglyn a'r dalganiadau ariannol 18-38 Appendix l - Welsh Trustees, report l Adroddiad yr Ymddiriedolwyr Cymraeg Page12
GIRLGUIDING CYMRU TRUSTEES I YMDDIRIEDOLWYR FOR THE YEAR ENDED 31 MARCH 2024 Trustees l Ymddlriedolwry Ms Beverley Martin, Chief Commissioner Ms Sarah-Jane Burns, Deputy Chief Commissioner Ms Charlotte Makanga Ms Pretiksha Davies Ms Kathyrn Gunner Ms Julie Miles Ms Evelyn Thomas Ms Ann Lovatt Ms Chloe Sinderby (appointed 1010912023) Charlty reglstered number l Rhlg elusen gofestredlg 521209 Prlnclpal offlc• I Pr18 swyddfa The Coach House, Broneirion, Llandinam, SY17 5DE Key Management Personnel Helen Parker, Finance Manager Rachael Clutton-Haines, ManagerlPA to Chief Commissioner Indepandént audltors l Archwllwyr annlbynnol Ward Williams. Belgrave House, 3943 Monument Hill, Weybridge, Surrey KT13 8RN Bank•rs l Bancwyr HSBC Bank plc. 1 Broad Street, Newtown SY16 2LX Legal Consultant Girlguiding UK, 17-19 Buckingharn Palace Road, London SW11 OPT Page13
GIRLGUIDING CYMRU CHIEF COMMISSIONER'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 Guiding in Wales is committed to helping girls and young women find their voice and build skills and confidence inspiring them to discover the best in themselves and empower them to make a positive difference in their community. We achieve this through delivering an exciting, diverse, girl-led programme of activities though a range of formal and informal learning approaches which support the development and well-being of our membership, all of which is facilitated by trusted adult leaders who are mindful of the importance of the Welsh language and culture. With over 15,600 members throughout Wales in over 1,050 units, our aims and objectives have remained constant since our inception {1910), in that we empower girls and young women to be their best and provide skills and opportunities to enable them to face the challenges of growing up in today's society. To meet our commitment to ensure that our leaders are inspirational role models for our members and in line with our strategy that we are delivering a quality programme, the Cymru training team have continued to offer sessions to our members both vlrtually and In person and our Gulding delivery team have been available to share their support to members across a wide range of topics. Both the training and Guiding Delivery teams hold years of guiding expertise and knowledge b8tween them and are such a valuable resource for our members looking for opportunities to further their own Guiding understanding and experiences. Our successes are, of course, a testament to the dedication and hard work of our incredible adult members who facilitste Rainbow, Brownie, Guide and Ranger units every week across Wales. This voluntary powerhouse of passion, skill and ambition for girls is what enables our organisation to deliver such life- changing and impactful opportunities and experiences for our young members. The commitment of our volunteers, staff, supporters and donors, combined with the energy and enthusiasm of our members ensures that Guiding is confident and well placed to deliver programmes and activities that inspire and change lives across the Principality. To underpin some aspects of our strategic plan we have opted to work in collaboration or partnership which has enabled us to achi8ve more than acting alone. Trustees believe that partnership working is particularly beneficial because it shares 6xpertise, skills and resources. We have sought to work with organisations that share our long-term goals, whereby working together each has an increased chance of achieving their individual goals, where the reputations of the partners are complementary and where gaps in capability or reach are addressed by the partner. Through this network of collaboration and partnership we have been able to access expertise and skills that have enabled us to offer a much richer and wider programme of opportunities. Girls and young women are encountering gender stereotypes in all areas of their lives from their peers to the media, causing them to change their behaviour because of the pressure they feel to be or act a certain way, affectlng their ability to say what they think, or to be themselves. We continue to be ambitious for girls and young women and our partnership with Sports Wales conlinues to enhance our programme in delivering fun, adventure and challenge. Through this collaboration we have encouraged our young people to become more active, to explore new challenges and sports, trained and motivated them lo take their interest further, encouraging healthy lifestyles, giving them new opportunities and experiences including cricket, football, street dance and ice skating. We continue to invest in developing a team to grow Guiding in Wales and we are focused on a number of areas. from shoring up our existing units with sufficient leaders to opening new units, to clearing waiting lists and more importantly we are focusing on the retention of our current volunteers. Funding from Garfield Westem in conjunction with Girlguiding nationally enabled the Regional Innovation inclusion and Growth project to engage with communities we are not yet reaching to find the wants and needs of their young people in North Wales. Funding enabled the employment of a Project Officer who followed a service design process, involving young people every step of the way with the aim of putting the voices of underrepresented communities al the heart of what we have created. Page14
GIRLGUIDING CYMRU CHIEF COMMISSIONER'S STATEMENT (continued) FOR THE YEAR ENDED 31 MARCH 2024 Our Trustees are committed to providing girls and young women in Wales with an organisation that they find fun and exciting, one that also teaches them real life skills as they grow and develop. Guiding in Wales is uniquely able lo make this happen and with our partners, through collaborative working practices, we can ensure that girls are able to develop, and we can continue to make a difference to the communities in which they live, making them more cohesive. Our Chief team of 8ev, Sarah-Jane and Alice have attended AGM'S, presentation evenings, musical gang shows and other Girlguiding Cymru events across Wales and witnessed the enjoyment and enrichment our programmes bring to both the girls and volunteers alike. The Chief team have continued to represent and advance Girlguiding Cymru in both local and national forums including the Senedd. The success of events is down to the hard work and detennination of those involved. Girlguiding Cymru thanks everyone for their incredible efforts. Every single Girlguiding Cymru event has the opportunity to benefit our members whether it be Rangers taking on exciting challenges, Guides developing new skills, Brownies building confidences, Rainbows strengthening friendships together our events create memories to last a lifetime. Throughout the year we have continued to embrace the challenges ahead to build on all the inspiring work volunteers, girls, young women and staff colleagues do, day in and day out, at Girlguiding # today. tomorrow. together. Beverley Martln Chlef Commlssloner Page15
GIRLGUIDING CYMRU TRUSTEE'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their annual report and financial statements for Girlguiding Cymru (GGC or the Charity) for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charities Act 2011. GGC is the leading youth organisation for girls and young women in Wales. As of 1st July 2024, we have 15,690 members across Wales, giving our youth a real voice. From the age of 4, our girls have fun, leam, do 'cool stuff,, make things happen and coritinue to develop and explore their world. Girlguiding Cymru is one of the nine Countries and Regions that constitute the Guide Association in the UK. Girlguiding UK has around 100,000 amazing volunteers and half a million members aged 4 to 95. STRUCTURE, GOVERNANCE AND MANAGEMENT Constltution Girlguiding Cymru is a registered Charity and is a separately constituted branch of the Guide Association. which is incorporated by Royal Charter. The registered Charity number is 521209. It is led by our volunteers through the twelve Welsh Guiding Counties, namely. Anglesey, Cronfa Ddwr, Caernarfonshire, Carmarthenshire, Ceredigion, Clwyd, Cardiff and East Glamorgan, Central Glamorgan, West Glamorgan, Gwent, Montgomeryshire & Merloneth and Pembrokeshire. Management and Govarnance Govemance, leadership, strategic management and control of the Charity is undertaken by the Girlguiding Cymru Board, whose members are the Charity Trustees. The board meets at least three times a year. The membership and functlons of the board are governed by its constitution. Guiding operations is led by the Chief Commissioner. Details of the Trustees who served during the year and since the year end are listed at the end of this report. As of June 2024, the Board comprises,. The Chief Commission8r for Wal8S The Deputy Chief Commissioners for Wales The Assistant Chief Commissloner The Chair of Guiding Delivery Board Seven Elected Members (which includes the Chair of the Board of Trustees) The Chief Commissioner is appointed by the Chief Guide of Girlguiding UK after consultation with the Board and the Welsh County Commissioners. County Commissioners are appointed by the Chief Commissioner after nominations are received from the relevant County. Committee and Task & Finish Chairs are appointed by the Chief Commissioner to represent her and receive terms of reference to ensure alignment with the needs of the Board. All appointments have a set term depending on the appointment (maximum 5 years). The primary Committees currently formed are: Guiding Delivery Board County Commissioners Council Dyfodol y Ddraig All Trustees are volunteers and receive no remuneration. Detsils of their expenses are disclosed in note 12 to the Accounts. Page16
GIRLGUIDING CYMRU TRUSTEE'S REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2024 Tradlng Subsidiary The charity owns 1000/0 of the issued share capital of Broneirion Ltd, its trading subsidiary, whose principal activity was to operate, maintain and manage the commercial (non-primary purpose) activities of the charity, the Training and Conference Centre at Broneirion and lettings. The subsidiary also raised funds for the charity's primary purposes through a range of charitable events. With effecl from 1 April 2023, Broneirion Ltd has now ceased all trading activity and will be dormant for the foreseeable future (see Note 1.2 on page 18 of these financial statements for more information). Statement of Purpose We are the leading charlty for girls and young women in Wales. Thanks to our amazing volunteers, we deliver life-changing adventures and opportunities to girls aged 4 to 25. Through fun, friendship, challenge and adventure we empower girls to find their voice, inspiring them to discover the best in themselves and to m8ke a positive difference in their communlty. We deliver a challenging and fun programme of activities that offer new experiences and ensure our leaders and volunteers receive excellent training and support to give inspirational leadership and deliver quality programmes that enable girls to gain new skills, confidence, and discover the best in themselves. Every volunteer, staff member, girl and young woman in guiding has a role to play. OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives in planning future activities. As a Charity, GGC is committed to provldlng leadership and quality training for our adult members and exciting and ch8118nging activities for our younger members. Thi5 training can be provided virtually or in person across Wales. Our relationship wlth Sport Wales is continuing to bring new sporting activities for our members in our units across Wales and we are achieving our targets under this funding. Membership this year has grown slighlly. Subscriptions represent 479A of income for the Charity and are critical to enabling us to provide the girls with the programme they want and underpin our other grants and activities. Guiding membership provides excellent value and is seen as 'open to all and inclusive, organisation in our communities. Page17
GIRLGUIDING CYMRU TRUSTEE'S REPORT (contlnued) FOR THE YEAR ENDED 31 MARCH 2024 BUSINESS PLAN TO 2024 The Business Plan continues the progress made and provides planned income and expenditure budgets based on our"Today. Tomorrow, Togetherf strategic objectives and goals.. 1. Exceptional experiences for girls To offer a programme of adventure and challenge that compliments national and county offers. 2. Rewarding Volunteer Experlen¢e Provide support to adult volunteers especially commissioners and deliver relevant training programme sessions to enable them to carry out their role and feel a valued member of the organisation. 3. Incluslve and Impactful To stabilise membership and have a plan for growih. 4, Sustalnablllty Maintain good financial governance and stability. Hlghllghts In 202312024 67 participants complet8d their Duke of Edinburgh Bronz8 Award, 28 participants completed the Silver Award and 14 participants completed the Gold Award. 3,237 volunteering hours were undertaken by our Duke of Edinburgh Award participants. 1,052 members were supported on the ice by the Welsh female Ice hockey team, Cardiff Comets during two Ice Extravaganza events. The girls finished off the evening watching Cardiff Devils take on the Dundee Stars and Fife Flyers. 682 members from Rainbows to Rangers participated in Bumbling Botanicals at National Botanic Garden of Wales, Llanarthney where the enjoyed fun activities in the day followed by a sleepover in the evening. 742 members participated in Castle Capers at Gwrych Castle, Abergele where they enjoyed various activities from drumming to heritage crafts with the older mernbars then attended a camp at Ty Clwyd. Castell Cariad challenge launched in collaboration with CADW enabling participants to learn about history and culture. Over 1,700 members completed the challenge during the year. Civil Engineering challenge pack launched in partnershlp with the Institute of Civil Englneering a fun and engaging way for Guides and Rangers lo learn about the exciting world of civil engineering, Just under 1,000 members completed the challenge during the year. R18k Assessment A Risk Register is kept which classifies major risk to which the Charity is exposed under the following headings- Govemance, Operational, Financial, Environment and External factors and Compliance. Government Policy relating to grants In particular we are a partner organisation with Sport Wales and secured another year's funding providing further sports opportunities and activities for our young members. This has been a great success with thousands of girls and their leaders involved in the programmes. Again. though continued funding is uncertain, we continue to imbed the philosophy in Guiding and develop our volunteers to ensure we can tske it forward at least in part. Governance - Our experienced Board is providing the direction for growing Guiding in Wales and their skills significantly increase our capability in current thinking on leadership. business, and marketing within a Welsh conlext. We are continuing lo develop our systems, policies, and processes to streamline administration without losing the necessary controls. Financial policy and procedures have been reviewed and budget holders reminded of their obligations under them. Page18
GIRLGUIDING CYMRU TRUSTEE'S REPORT Icontlnued) FOR THE YEAR ENDED 31 MARCH 2024 Disaster recovery and planning - changes to Broneirion structure and business model will hopefully enable the financial viability in the future and secure our assets. Dependency on certain income sources and the potential for losses in the trading subsidiary we continue to develop the 'mixed economy, approach to develop a range of income streams, thereby lowering risk in any one area. FINANCIAL REVIEW As a Group the Charity generated a surplus of £46,391 during the year {2023: £23,171 deficit). This surplus is reduced by a fixed asset impaimient of £36,291 as at the year-end relating lo the leasehold asseubuilding works relating to the site at Ynysgain, which has been handed back to the freeholder since the year-end. Income of £527,584 (2023.. £413,930) includes legacies received during the year of £10,136 (2023.. £1,750). Subscriptions for 23124 were £248,842 {2022123: £223,201) being approximalely 47 % of the income of the Charity for the year. Cash balances at the year-end were £771,082 {2023: £714,430) and investments in listed equities were £232,781 (2023.. £214,759). Net current assets were £977,535, an increase of £102,352 when compared to 31 March 2023. Of the total funds of £1,796,745 unrestricted funds were £1,445,954 and restricted funds were £350,791. The Charity is reporting free reserves of £849,694 at 31 March 2024 compared with £746,700 at 31 March 2023. GOING CONCERN After making appropriate enquires, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing financial statements. The accounts are presented on a consolidated basis reflecting the integrated nature of the Charity and its trading subsidiary. INVESTMENTS AND RESERVES The Charity's investments are held in funds specially designed for charities and include the CCLA COIF managed Growth and income Trust for Charities and the M & G managed Charibond and Charifund Trusts. The growth and Charifund Trusts are invested in blue chip UK equities such as BP, Shell, GlaxoSmithKline, HSBC and Vodafone. The income and Charibond Trusts are invested in UK gifts and other fixed income securities. Guiding UK acts as the intermediate for GGC and by pooling resources with the other Regions we save costs. Throughout the period the Trustees have adopted a policy on its reserves ensuring that the unrestricted financial reserves (not including fixed assets) were such as to secure between three and six months of our operationlcharitable expenditure. The Trustees consider this level of reserves to be appropriate for the charity and to cover its cash flow requirements, while also providing a buffer in case of any loss of income which would give the Charity the chance to take appropriate steps. The Trustees acknowledge that the free reserves held of £849,694 as at th8 year-end are now in excess of the above reserves policy. They continue to assess how best to utilise these reserves for the ongoing objectives of the Charity. Page19
GIRLGUIDING CYMRU TRUSTEE'S REPORT Icontlnued) FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES The trustees who held office during the year and up to the date of signature of the financial statements were as follows.. Ms Beverley Martin, Chief Commissioner Ms Sarah-Jane Burns, Deputy Chief Commissioner Ms Leigh Ingham - Resigned during the year. Ms Charlotte Makanga Ms Pretiksha Davies Ms Kathyrn Gunner Ms Julie Miles Ms Evelyn Thomas Ms Ann Lovatt Ms Charlotte Murphy- Resigned during the year. Ms Chloe Sinderby- Appointed 1010912023 TRUSTEES, RESPONSIBILITIES The Chief Commissioner, chair of the Board and Trustees, in Ilne with the constitution, they are responsible for the governance, stewardship and strategy of the charity and its subsidiary. They review performance at least four times 8 year and approve the annual report and accounts. Through active risk management they seek to ensure that the organisation remains viable and sustainable. The Chief Commissioner reports to Girlguiding UK and manages the volunteer workforce through a structure of Lead Volunteers and County Commissioners, who in turn are supported by 3,000 volunteers. The trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity 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 in the Charities SORP 2019 (FRS 102)., make judgements and estimates that are reasonable and prudent., state whether applicable accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements., 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 proper accounting records that disclose with reasonable 8ccur8Cy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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. This report was approved by the Trustees, on and signed on their behalf by: Ms Beverley Martln Chief Commlssioner Page110
GIRLGUIDING CYMRU INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF GIRLGUIDING CYMRU FOR THE YEAR ENDED 31 MARCH 2024 Opinion We have audited the financial statements of Girlguiding Cymru (the 'parent charity,) and its subsidiaries (the 'group') for the year ended 31 March 2024 which comprise Statement of Financial Activities, Balance Sheet, Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the group's and parent charity's affairs as at 31 March 2024, and of the group's incoming resources and application of resources for the year then ended,, have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Charities Act 2011, Basis for oplnlon We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fuSfilSed our other ethical responslbilltles In accordance with these requlrements, We believe that the audit evidence we have obtslned is sufficient and appropriate to provide a basis for our opinion. Concluslons ralatlng to golng concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other Informatlon The trustees are responsible for the other information. The other information comprises the information included in the trustees. annual report, other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otheiSe explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statemenls, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial slatements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other infonnation, we are required to report that fact. We have nothing to report in this regard, Pagel 11
GIRLGUIDING CYMRU INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF GIRLGUIDING CYMRU FOR THE YEAR ENDED 31 MARCH 2024 Matters on which we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion.. the information given in the financial statements is inconsistent in any material respect with the trustees, report. or sufficient accounting records have not been kept,. or the parent charity's financial statements are not in agreement with the accounting records., or we have not received all the information and explanations we require for our audit. Responsibilities of trustees explained more fully in the trustees. responsibilities statement set out on page 10, the trustees are responsible for the preparation of financi81 statements which give a true and fair view, and for such internal control as the trustees determin8 is necessary to enabl& the preparation of financial statements that ar8 free from material misstatement, whelher due to fraud or error. In preparing the financial statements, the trustees are responslble for assessing the group's and parent charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charity or to cease operations, or have no realistic alternative but to do so. Audltor's respon8lbllltle8 for the audlt of the flnanclal statements We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatemenl, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. We obtained an understanding of the legal and regulatory frameworks applicable to the charity and the sector in which they operate. We determined that the following were most significant.. the Charities Act 2011. We obtsined an understanding of how the charity are complying with those legal and regulatory frameworks by making inquiries to the management of the charity. We corroborated our inquiries through our review of correspondence during our audit work. Page112
GIRLGUIDING CYMRU INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF GIRLGUIDING CYMRU FOR THE YEAR ENDED 31 MARCH 2024 We assessed the susceptibility of the charity's financial statements to material mi88tatement, indudlng how fraud might occur. Audit procedures perfomed Included.. identfying and assessing the design effectiveness of controls management has In place to prevent and detect fraud., understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process,. hallenging assumptions and judgements m8de by management in its Significant accountlng 8Stlmates', Identifying and testing journal entrie8, in particular and journal entries p05t8d wlth unusual account combinations., and assessing the extent of compliance with the relevant laws and regulations. Becau8e of the inherent Ilmitations of an audlt, there Is a rl8k that we will not detect all irregularitles, including those leading to a materlal misstatement in the flnanci81 stat8ment8 or non-compliance with regulation. Thi8 ri8k increases the more that compliance with a law or regulatlon 18 removed from the events and transactlons reflected in the financial statements, as we will be le88 likely to become aware of in8tanc88 of non-compllancé. The ri8k18 al80 greater regarding irregularSties occurring due to fraud rather than orror, a8 fraud involve8 Intentional concealment, forgery, collu81on, omi88lon or ml8repre8entatlon. A further descrlptlon of our respon8ibilities for the audit of Ihe financial statements18 located on the Financial Reportlng Council'8 web8lte at.. WWN.frc.org,uklauditorsre8pon8ibilltle8. Thla descrlptlan forms part of our auditorf8 report, Use of our report Thls report 18 made solely to the charlty's truslee8, as 8 body, In accordance with Part 4 of the Charitles (Accounts and Reports) Regulations 2008, Our audit work has been undertaken so that we mlght state to the charlty's trustees those matters we are requlred to State lo them in an auditorf8 report and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustee8 a8 a body, for our audit wcrk, for this report, or for the opinion8 we have formed. W.,c) Ward Wllllams Chartered Accountants Statutory Auditors Belgrave House 3943 Monument Hill Weybridge Surrey KT13 8RN Date.. . .111 i o |Ic+l4 Ward Wllliams are eligible to act as auditors In tenn8 of 8ection 1212 of the Companie8 Act 2006. Page113
GIRLGUIDING CYMRU CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Restrlcted Unrestrlcted funds 2024 funds 2024 Total funds 2024 Tot81 fvnds 2023 Not6 Income from: Donations and legacies 10,773 10,773 5, 068 Charitable activities 103,783 404,010 507,793 351,427 Other trading activities 50,546 Investments 956 8,062 9,018 6.889 Total Income 104,739 422,845 527,584 413,930 Expendlture on: Raising funds Voluntary income Fundraising trading Charitable activities 3,562 3,562 682 16,455 410,640 7,10 116,162 379,491 495,653 Total expenditure 11 (116,162) (383,053) (499,215) (427, 777) Net gainl(loss) on investments 3,007 15,015 18,022 (9,324) Net l•xp•ndlture) (8,416) 54,807 46,391 (23, 171) Transfers between funds 1,100 {1,100) Net movement In funds (7,316) 53,707 46,391 (23,171) Reconclllatlon of funds: Total funds brought forward 20 358,107 1,392,247 1,750,354 1, 773,525 Total funds carrled fOard 20 350,791 1,445,954 1,796,745 1, 750,354 All activities relate to continuing operations, apart from the trading activities of the group which were streamlined following the Covid-19 global pandemic. The trading subsidiary of the group ceased activities as at the previous year-end, and was dormant with effect from 1 April 2023. The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 18 to 38 fomi part of these financial statements. Page114
GIRLGUIDING CYMRU CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2024 2024 2024 2023 2023 Not• Fixed assets Tangible assets 14 781,777 839,424 Investments 15 37,433 35,747 819,210 875, 171 Current assets Stocks 16 18,507 19,453 Debtors 17 63,098 73, 723 Investments 18 195,348 179,Ot2 Cash at bank and in hand 771,082 714,430 1,048,03S 986,618 Credltorn." amounts falllng due wlthln one year 19 (70,500) (111,435) Net current assets 977,535 875, 183 Total assets lèss current Ilabllltlas 1,796,745 1, 750.354 Credltors: amounts falllng duo after more than one yéar Net assets 1,796,745 1, 750,354 Charlty Funds Restricted funds 20 350,791 358, 107 Unrestricted funds 20 1,445,954 1,392,247 Total funds 1,796,745 1, 750,354 The financial statements were approved by the Trustees on I4 .10 ..24. and signed on their behalf by: Ms Beverley Martln, Chlef Commlssloner The notes on pages 18 to 38 fonn part of these financial statements. Page115
GIRLGUIDING CYMRU CHARI BALANCE SHEET AS AT 31 MARCH 2024 2024 2024 2023 2023 Ntste Flxed assets Tangible assets 14 781,777 839,424 Investments 15 37,433 35,747 819,210 875, 171 Current assets Stocks 16 18,507 19,453 Deblors 17 63,098 74,399 Investments 18 195,348 179,012 Cash at bank and in hand 771,082 712,207 1,048,035 985,071 Credltor8: amounts falllng due wlthln one year 19 (70,500) (109,888) Net current assets 977,535 875, 183 Net assets 1,796,745 1, 750,354 Charlty Funds Restricted funds 350,791 358, 107 Unrestricted funds 1,445,954 1.392,247 Total funds 1,796,745 1, 750,354 The financial statements were approved by the Trustees on 11:10 .2-.Ltr and signed on their behalf by.. Ms Beverly Martin, Chlef Commissioner The notes on pages 18 to 38 form part of these financial statements. Page116
GIRLGUIDING CYMRU CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 £000 2023 £000 Net cash flow from oparating actlvitles 22 62,552 120, 122 Cash flow from Investlng activitles Purchase of tsngible fixed assets Proceeds from sale of tangible fixed assets {5,900) (8, 223) 1,501 Net cash used In Investlng actlvltles (5,900) (6, 722) Change In cash and cash equlvalonts In the year 56,652 113,400 Cash and cash equivalents brought forward 714,430 601,Q30 Cash and cash equlvalents carrled forward 23 771,082 714,430 The notes on pages 18 to 38 form part of these financial statements. Page | 17
GIRLGUIDING CYMRU NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024- 1. ACCOUNTING POLICIES 1.1 Basls of preparatlon of financial statements The financial statements have been prepared to give a 'true and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair, view. This departure has involved following the Charities SORP (FRS 102) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The financial statements have been prepared under the histOriGal cost Gonvention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) (Published in October 2019) and Charities Act 2011. Girlguiding Cymru constitutes a public benefit entity as defined by FRS 102. The statement of financial activities (SOFA) and Balance sheet consolidate the financial statements of the Charity and its subsidiary undertaking, The results of the subsidiary are consolidated on a line by line basis. No separate SOFA has been presented for the Charity alone as permitted by FRS 102. 1.2 Golng Concorn As reported in the previous year financial statements, in order to limit the losses being made by the trading subsidiary, it was decided by the Trustees that the subsidiary should cease activities at the prior year-end, with it becoming dormant with effect from 1 April 2023. During the year, the Trustees continued to explore the potential future sale of the premises owned by the group, and this remains ongoing at the time of signing these financial statements. In addition, since the year-end the charity has acquired new premises that are more suitable for its current activities (see Note 27 for further details). The Trustees are of the opinion that the Charity itself is in a sufficiently strong financial position to see through the current tough economic environment and sale of the group premises. Based on this the Trustees consider it appropriate to prepare the accounts on a going concem basis. Page118
GIRLGUIDING CYMRU NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1. ACCOUNTING POLICIES (contlnuéd) 1.3 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 measure reliably. For legacies. entitlement is taken as the earlier of the date on which either.. the Charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a dlstribution will be made, or when a distribution is recelved from the estate. Receipt of a legacy, in whole or In part, is only considered probable when the amount can be measured reliably. and the Charity has been notified of the executor's intention to make a distribution. Where legacles have been notified to the Charity, or the Charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy Is treated as a contingent asset and disclosed if materi81. Glfts In klnd donated for distrlbution are included at valuation and recognlsed as income when they are dlstributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilltles are Included at the value to the Charity where thls can be quantified and a third party is bearing the cost. No amounts are Included in the financial statements for seniices donated by volunteers. Donated servlces or facilities are recognised when the Charity has control over the item, any conditions associated wlth the donated item have been met, the receipt of economic benefit from the us& of the Ch8rity of the item is probable and the economic benefit can be measure reliably. In accordance with the Charitles SORP (FRS 102), the general volunteer time of the Friends is not recognised and refer to the Trustees. report for more information about their contrlbutlon. On receipt, donated professional servlces and donated facilitles are recognised on the basis of the value of the gift to the Charity which is the amount th8 Charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market. a corresponding amount is then recognised in expenditure In the period of receipt. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the tlmo of the donation. Income tax recoverable In relatlon to Investment income is recognlsed at the time the investment income is recelvable. 1.4 Expendlture Expendlture Is recognised once there is a legal or constructive obligatlon to transfer economic b8neflt to a third party. it is probable that a transfer of economic benefits wlll be required in settlement and the amount of the obllgation can be measur8d reliably. Expenditure is classified by activity. The costs of each actlvity 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 note attributable to a single activity are apportioned beeen those activities on a basis consistent wlth the use of resources. Central staff costs are allocated on the basis of time spent. and depreciation charges are allocated on the portion of the asset's Use. Page119
GIRLGUIDING CYMRU NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1. ACCOUNTING POLICIES (contlnued) 1.4 Exp8ndltur• (contlnued) Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitsble activities, Support costs are those cost incurred directly in support of expenditure on the objectives of the Charity and include project management Garried out at Headquarters. Govemance costs are those incurred In connection with administration of the Charity and compliance with constitutional and statutory requirements. Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that ralse funds. Charltable activltl8s and Govemance costs are costs incurred on the Charity's educational operations. including support costs and costs relating to the govemance of the Charity apportioned to charitable activities. Grants payable are Charged in the year when the offer Is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year-end are noted as a commitment, but not accrued as expenditure. 1.5 Ba•ls of Con•olldatlon The financial statements consolidate the accounts of GirlguSding Cymru and all its subsidiary undertakings ('subsldiarles'). The income and expenditure account for the year dealt with In the accounts of the Charity w8s a surplus of £46.391 {2023 £287,179 deficit}. The surplus this year was reduced by an impairment charge of £36,291 relating to fixed assets conceming the site at Ynysgain, which has been handed back to the freeholder since the year-end. The large deficit in the prior year was due firstly to an impairment of the investment regarding its trading subsidiary, Broneirion Limited of £264,001, and secondly an increase in the provision against the debtor balances owed to the charity by Broneirion Limited of £109,707, A total provision of £437,944 remains in place, which is equivalent to the Broneirion Limited net liabilities position, wlth the Trustees having taken a view that the trading subsidiary is extremely unlikely to ever be able to repay the amounts owed in full. 1.6 Tanglble flxed assets and depreclatlon A revlew for impairment of a flxed asset is carried out If events of changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverabl8 amounts are recognised as impairments. Impairment Ioss8s ar6 recognised in the Stat8ment of financial activities. Page | 20
GIRLGUIDING CYMRU NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1. ACCOUNTING POLICIES (contlnued) 1.6 Tanglble flxed asset8 and d8pr•clatlon (continued) Tanglble fixed assets are carrled at cost, net of depreciation and any provision for impaimient. Depreciation is provided at rates calculated to write of the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Freehold property Llterm Leasehold property Plant & machinery Fixtures and fittings Office equipment Other fixed assets 20/0 Straight line Over the lease term 25 % Straight line 200/0 Straight line 250/0 Straight line 250/0 Straight line 1.7 Inv•stfflent8 Fixed asset and currant asset Investments are a form of financlal Instrument and ar8 initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless fair value cannot be measured rellably in which case it is measured at cost less impairment. Investment galns and losses. whether re81ised or unrealised, are combined and shown in the heading 'Gainsl(losses) on investments, in the Statement of financlal actlvities. Subsidiary undertaklngs Investments in subsidiaries are valued at cost less provlslon for impairment. 1.8 Intere8t recelvable Interest on funds held on deposlt is Included when receivable and the amount can be measured reliably by the Charity., this is normally upon notification of the interest paid of payable by tha 8ank. 1.9 Stocks Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow- movlng stocks. Cost includes all direct costs and an approprfate proportion of fixed and variable overheads. 1.10 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. 1.11 Cash at Bank and In hand Cash at bank and In hand includes cash and short temi hlghly Ilquid investments wlth a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 1.12 Llabllities and provlslons Liabilities are recognised when there is an obligation at the Balan 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 anticipated 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. Page121
GIRLGUIDING CYMRU NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1. ACCOUNTING POLICIES (contlnued) 1.13 Llablllties and provlslons (contlnued) 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 within interest payable and similar charges. 1.14 Flnanclal Instruments The Charity only has financial assets and financlal liablllties 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. 1.15 Panslons The Charlty operates a defined contributlon pension's scheme and the penslon charge represents the amounts payable buy the Charity to the fund in respect of the year. The assets of the scheme are held separately from those of the charty in an independently administered fund. Contrlbutions payable for the year are charged in the Statement of Financial Activities. 1.16 Fund a¢countlng General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general obJ8ctlves of the Charity and whlch have not been designated for other purposes. Restricted funds are funds whlch are to be used in accordance wlth speclfic restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and admlnlsterlng such funds are charged agalnst the speclfic fund. The aim and use of each restricted fund is set out in the notes to the financial statements. 1.17 Crftlcal accountlng estlmates and ar•a$ of Judgement Estlmates and judgements are continually evaluated and are based on historical experience and other factors, including expectstions of future events that are believed to be reasonable under the circumstances. The Charity makes estimates and assumptions conceming the future. The resultlng accounting estimates and assumptions will, by definitlon, seldom equal the related actual results. The estimates and underfying assumptlons are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 1.18 Government grants Govemment grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. Page | 22
GIRLGUIDING CYMRU NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 2. INCOME FROM DONATIONS Restrlcted Unrestricted Total Funds funds 2024 funds 2024 2024 Total Funds 2023 Donations Legacies 637 10,136 637 10,136 3,318 1,750 Total Donatlon8 10,773 10,773 5,068 Total 2023 1,750 3,318 5,068 3. INCOME FROM CHARITABLE ACTIVITES R•strlctod Unrestrlcted Total Funds fund8 2024 funds 2024 2024 Total Funds 2023 Subscrlptions 248,842 248,842 223,201 Glrlguldlng events Ynysgain income International incom8 Grants 73,483 14,867 66,318 500 73,483 14,867 66,318 104.283 44,334 8, 904 3,770 71,218 103,783 Total In¢om• from charltable a¢tlvltl•s 103,783 404,010 507,793 351,427 Tot812023 69,718 281, 709 351,427 Direct costs of operating Ynysgain are included in note 8. GRANTS 2024 2023 Girlguiding UK Sports Grant Duke of Edinburgh Award Lloyds Foundation Garfield Weston Fund Lesley Sell Trust CAF Funding 29,338 42,950 2,513 1,682 25.800 1.500 500 15,266 29,212 740 1,500 24,500 Total 104,283 71,218 Page123
GIRLGUIDING CYMRU NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 4. TRADING ACTIVITIES Restrfcted Unrestrlctsd Totsl Funds funds 2024 funds 2024 2024 Total Funds 2023 Charlty Tradlng Income Broneirion 50,546 50,546 Fundralslng tradlng expen808 Cost of sales 16,455 16,455 Net Incomo from tradlng a¢tlvltles 34,091 5. INVESTMENT INCOME Restrlcted Unrestrlcted Total Funds funds 2024 funds 2024 2024 Tot81 Funds 2023 Bank and other interest receivable 2,394 2,394 463 Investment Income 956 5,668 6,624 6,426 Total investment Income 956 8,062 9,018 6,889 Tot812023 1,087 5,802 6,889 Page124
GIRLGUIDING CYMRU NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 6. COSTS OF GENERATING VOLUNTARY INCOME Restrlcted Unrestrlctsd Total Funds fund8 2024 funds 2024 2024 Total Funds 2023 Publlclty 3,562 3,562 682 Total 2023 682 682 7. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES Rastrict8d Unrestrlcted funds 2024 fund5 2024 Total Funds 2024 Total Funds 2023 General Guiding costs 45,670 184,690 230,360 317,676 Guiding events expenses 70,492 173,126 243,618 75,385 116,162 357,816 473,978 393,061 Total 2023 83,422 309, 639 393,061 8. DIRECT COSTS Bronelrlon Glrlguldlng Total 2024 Total 2023 Administration expenses Ynysgain trading activities Guiding International trading activities 30,816 10,653 62,282 10,841 158,871 73,906 10,841 158,871 73.906 Total dlrect costs 243.618 243,618 106,201 Total 2023 30,816 75,385 106,201 Page125
GIRLGUIDING CYMRU NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 9. SUPPORT COSTS Glrlguldlng Total 2024 Total 2023 Insurance Light & heat Repairs and maintenance NVYO & UYSAF Meeting costs Postage & stationery Training 8ank charges Business & water rates Membershlps & subscriptions Donations Telephone Website costs Sundry expenses Wages & salaries National insurance PensSon cost Staff welfare (Profit) on disposal Depreciation and impaiment 11.977 4,240 690 11.977 4,240 690 14,527 2,982 119 2,100 550 2,331 960 1,199 3,191 2,191 977 715 4,074 977 117,536 5,845 5,419 115 (93) 121,145 3,186 2,692 232 1,452 2,550 961 3,186 2,692 232 1,452 2,550 961 3,038 5,534 1,402 119,388 3,504 5,895 72 3,038 5.534 1,402 119,388 3,504 5,895 72 63,547 63,547 Total 8UPPOrt costs 230,360 230,360 286, 860 Total 2023 286,860 286, 860 10. GOVERNANCE COSTS Restrlcted Unrestricted Total Funds funds 2024 funds 2024 2024 Total Funds 2023 Auditors, remuneration Legal and professional fees Trustee meeting expenses 12,927 6,997 1,751 12,927 6,997 1.751 12,955 4,624 Total governanco costs 21,675 21.675 17,579 Total 2023 17,579 17,579 Page126
GIRLGUIDING CYMRU NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 11. ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE Staff costs Depnllmpair Other Costs 2024 2024 2024 Total 2024 Tot81 2023 Expenditure on raising voluntary income Expenditure on fundraising trading 3,562 3,562 682 16,455 Costs of ralslng funds 3,562 3,562 17.137 General Guiding costs Guiding events 128,787 63,547 38,026 243,618 230,360 243,618 317,676 75,385 Charltable Actlvltle8 128,787 63.547 281,644 473,978 393,061 Expendlturo on governan¢• 21,675 21,675 17,579 128,787 63,547 306,881 499,215 427, 777 Total 2023 128, 800 121,145 177,832 427, 777 Page127
GIRLGUIDING CYMRU NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12. NET INCOME I {EXPENDITURE} This is stated after charging: 2024 2023 Depreciationllmpairment of tangible fixed assets.. -owned by the charitable group Auditors, remuneration - audit Auditors, remuneration - non-8udit 63.547 9,300 3,627 121,145 9,000 3,955 During the year, no Trustees received any remuneration (2023 - £NIL) During the year, no Trustees received any benefits in kind (2023 - £NIL) 6 Trustees received reimbursement of expenses amounting to £2,126 in the current year, (2023 - 6 Trustees - £1,288) 13. STAFF COSTS Staff costs were as follows: 2024 2023 Wages and salaries Social security costs Other pension costs 119,388 3,504 5,895 117,536 5, 845 5,419 128,787 128, 800 The average number of persons employed by the Charity during the year was as follows.. 2024 2023 no. no. No employee received remuneration amounting to more than £60,000 in elther year. Total remuneration received by key management personnel in the year amounted to £60,481 (2023: £56,286}. Page128
GIRLGUIDING CYMRU NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14. TANGIBLE FIXED ASSETS Lrrerm Freehold Leasehold Flxtures & Office property Property Fittings Equipment Total Group and Charfty Cosl At 1 April 2023 Additions Disposals 1,187,834 48,845 10,937 3,404 14,583 2,496 (7,007) 1,262,199 5,900 17,007) At 31 March 2024 1,187,834 48,845 14,341 10,072 1,261,092 Depreclatlon At 1 April 2023 Charge for the year On disposals Impairment loses 391,182 21,781 12,103 1,714 8,358 1,641 11,132 2,120 (7,007) 422,775 27,256 (7,007) 36,291 1,263 35,028 At 31 March 2024 414,226 48,845 9,999 6,245 479,315 Net book value At 31 March 2024 773,608 4,342 3,827 781,777 At 31 March 2023 796, 652 36, 742 2,579 3,451 839,424 Page | 29
GIRLGUIDING CYMRU NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 15. FIXED ASSET INVESTMENTS Total Group Market value At 1 April 2023 Revaluations 35,747 1,686 At 31 March 2024 37,433 Group Investments at market value comprlse: 2024 2023 Listed investments 37,433 35,747 All the fixed asset investments are held in the UK. Shares In Llsted group Securltles undertaklngs Total Charlty Market value At 1 April 2023 Revaluationsllmpairnient 35,747 1,686 35,747 1,686 At 31 March 2024 37,433 37,433 Charity investments at market value comprise: 2024 2023 Listed investments 37,433 35,747 Group Total 37.433 35,747 All the fixed asset investments are held in the UK. Page130
GIRLGUIDING CYMRU NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16. STOCKS Group 2023 Charity 2023 2024 2024 Finished goods and goods for resale 18,507 19,453 18,507 19,453 17. DEBTORS Group 2023 Charlty 2023 2024 2024 Du• wlthln ono year Trade debtors Amounts owed by group undertakings Prepayments and accrued income 7,292 43,133 7,292 43,133 676 30,590 55,806 30,590 55,806 63,098 73, 723 63,098 74,399 As at the year end the charity was owed £437,944 by its trading subsidiary, Broneirion Limited. A provision of £437,944 has been included against this amount, equivalent of the Broneirion Limited net liabilities position at the year-end, with the Trustees having taken the view that the amount owed is unlikely to be recovered in full. This has left an amount showing as owing and recoverable at the year-end of £nil {2023: £676). 18. CURRENT ASSET INVESTMENTS Group 2023 Charity 2023 2024 2024 Listed investments 195,348 179,012 195,348 179,012 Page131
GIRLGUIDING CYMRU NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 19. CREDITORS: Amounts falllng due wlthln one year Group 2023 Charity 2023 2024 2024 Trade creditors Other taxation and social security Other creditors Accruals and deferred income 33,018 2,167 770 34,545 29,513 696 536 80.690 33,018 2,167 770 34,545 28,662 536 80, 690 70,500 111,435 70,500 109, 888 Included within Accruals and deferred income is deferred income of £20,813 12023: £61,118). Deferred Income related to deposits held by Girlguiding Cymru at the year end from Guides for international trips that were due to occur in the next financial year, or for amounts received in advance for events to be held in the next financial year. Page132
GIRLGUIDING CYMRU NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20. STATEMENT OF FUNDS STATEMENT OF FUNDS- CURRENT YEAR Balance at 1 April 2023 Balance at 31 March 2024 Gainsl (Losses) Transfers Income Expendlture Unrestricted Funds Reserves 1,392,247 422,845 383 053 15,015 1,100 1,445,954 Restrlcted Funds Eldrydd Davies memorial fund {M&G) International legacy (M&G) Investment fund Broneirion maintenance fund County bedroom income Sports grant GG UK 1st Response grant GG UK Subs Funding grant Garfield Weston Fund CCUK Cost of living grant Duke of Edinburgh award grant GGUK Adventure grant GG UK Start up grant Guide Association grant CHQ Peer Ed grant Science Project donation Bequest- Dinah Cadogan Bequest- Judy Stuart Bequest- R Waring Safe Space Chiefs Memorial fund Masonic Lesley Sell Lloyds Matched funding 33,115 2,632 28,017 176,003 10,027 22,241 647 6,950 3,874 886 70 (8861 (70) 1,562 124 1,321 34,677 2,756 29,338 168,603 10,027 33,086 543 {7,400) 42,950 (32,105) {104) (6,950) (28,184) 17,692) (2,861) 25,800 15,205 2,513 1.100 2,590 7,513 348 13,800 {13,800 (528 1,037 970 1,535 1,290 35,504 23,692 5,000 1,452 3,773 509 970 1,535 1,290 34.382 16,514 (1,122) (7,1781 (5,000) 1,452 4,106 900 333 1,500 1,682 (600) (1,682) 358,107 104,739 (116,162) 3,007 1,100 350,791 Total of Funds 1,750,354 527,584 (499,215) 18,022 1,796,745 Page133
GIRLGUIDING CYMRU NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20. STATEMENT OF FUNDS (continued) STATEMENT OF FUNDS- PRIOR YEAR Balanc• at 1 April 2022 Balance at 31 March 2023 Galnsl (Losses) Transfers Income Expenditure Unrestrlcted Funds Reserves 1,401,255 341,375 344,355 6,735 707 1,392,247 Restrlcted Funds Eldrydd Davies memorial fund IM&G) International legacy (M&G) Investment fund Broneirion maintenance fund County bedroom income NVYO Sports grant GG UK 181 Response grant GG UK Subs Funding grant Garfield Weston Fund Duke of Edinburgh award grant GG UK Start up grant Guide Association gr8nt CHQ Peer Ed granl Science Project donation Bequest- Margaret Millar 8equest- Dinah Cadogan Bequest- Judy Stuart Bequest- R Waring GGUK Membership retention grant Safe Space Chiefs Memorial fund Masonic Lesley Sell 34,460 2,739 29,154 183,403 10,027 2.807 18,266 1.007 80 {1,007) (80) (1,345) (107) (1,137) 33,115 2,632 28,017 176,003 10,027 (7,400) (2,100) (25,237) (353) {7,050) (20,626) (392) (707) 29,212 1,000 14,000 24,500 740 22,241 6,950 3,874 348 1,037 970 1,535 1,290 1,037 970 1,535 1,290 1,750 (1,750) {693) (15,219) 36,197 38,911 5,000 1,01S 35,504 23,692 5,000 (1,015) 1,452 3,507 500 1,452 3,773 266 (500) 372,270 72,555 (83,422) (2,589) (707) 358,107 Total of Funds 1,773,525 413,930 (427,777) 19,324) 1,750,354 Page134
GIRLGUIDING CYMRU NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20. STATEMENT OF FUNDS (contlnued) SUMMARY OF FUNDS- CURRENT YEAR Balance at 1 Aprll 2023 8alanca at 31 March 2024 Galnsl Incomo Expenditure (Losses) fransfers General funds 1,392,247 358,107 422,845 104,739 (383,053) 116,162 15,015 (1,100) 1,445,954 3,007 1,100 350,791 Restricted funds 1,750,354 527,584 499,215 18,022 1,796,745 SUMMARY OF FUNDS- PRIOR YEAR Balance at l April 2022 Balance at 31 March 2023 G8ins/ Expenditure (Losses) Transfers Income General funds 1,401,255 341,375 (344, 355) (6, 735) 83, 422 2,589 707 1,392,247 707 358, 107 Restricted funds 372,270 72,555 1, 773,525 413,930 427, 777 9,324 1, 750,354 The Eldrydd Davies memorial fund was given to provide income for grants towards the costs of Intemational Travel. The Broneirion purchase and maintenance fund was raised to finance the purchase of the House and its grounds and to provide for its further maintenance. The balance shown represents the depreciated cost of the assets acquired and improvements made since the acquisition. The fund is to be depreciated straight line over the 50 year life of the lease at £7,400 pa. The current value of the restricted fund represents the remaining NBV of the original property purchased in 1992. The investment fund represents monies received in respect of a special appeal of £1 from each member to maintain the associations, level of investment income. The income derived from this fund is unrestricted. The international legacy represents an amount received for the benefit of Intemation81 Travel Grants. it has been invested to provide income towards the costs of these grants. Garfield Weston Field is a sub-grant from GGUK to fund a local development officer to offer support to low income areas The CHQ Peer Education grant is provided by Girlguiding UK to support North and South Wales Training events for our senior Guides. The School of Bioscience at Cardiff Univer51ty have provided a donation to support science projects for Rainbows, Brownies, Guides and Senior Section across Wales. The GGUK adventure grant was provided to fund specific adventure events. Page | 35
GIRLGUIDING CYMRU NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20. STATEMENT OF FUNDS (continued) The Sport Grant from Sport Wales is for the development of physical literacy and activity through sports throughout Guiding in Wales. The GGUK cost of living grant was awarded to assist Girlguiding members, especially those in more deprived areas, who have been hit hard by the ongoing cost-of-living crisis. This includes help with payments of subscriptions and rent. 21. ANALYSIS OF NET ASSETS BETWEEN FUNDS- CURRENT YEAR Re8trlcted fund8 2024 Unre8trlcted Total Funds funds 2024 2024 Tangible fixed asset Fixed asset investments Currents assets Creditors due within one year 187,707 37,433 125,651 594,070 781,777 37,433 1,048,035 170,500 922,384 (70,500) 350,791 1,445,954 1,796,745 ANALYSIS OF NET ASSETS BETWEEN FUNDS- PRIOR YEAR Restricted funds 2023 Unrestricted Total Funds fvnds 2023 2023 Tangible fixed asset Fixed asset investments Currents assets Creditors due within one year 193,877 34,295 129,935 645,547 839,424 34,295 858, 135 988,070 (711,435) (111,435) 358, 107 1,392,247 7, 750,354 Page | 36
GIRLGUIDING CYMRU NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 22. RECONCILITION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net income for the year las per Statement of Financial Activities) Adjuslment for: DepreciationlAmortisationllmpalrment charges (Profit) on disposal of tangible fixed assets (Gains)Ilosses on investments Decrease in stocks Decreasel{Increasel in debtors (Decrease)lincrease in creditors 46,391 (23, 171) 63,547 121, 145 (93) 9,323 3,038 (44.696) 54,576 (18,022) 946 10,625 (40,935 Not cash provlded by operatlng actlvltles 62,552 120,122 23. ANALYSIS OF CASH AND CASH EQUIVALENTS 2024 2023 Cash in hand 771,082 714.430 Total 771,082 714,430 24. OPERATING LEASE COMMITMENTS At 31 March 2024 the total of the Group's future minimum lease payments under non-cancellable operating lease were.. 2024 2023 Group Amounts payable.. Withln 1 year Between 1 and 5 years 706 133 Total 839 Page137
GIRLGUIDING CYMRU NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 24. OPERATING LEASE COMMITMENTS (continued) At 31 March 2024 the Charity had annual commitments under non-cancellable operating leases as follows.. 2024 2023 Charlty Amounts payable: Within 1 year Between 1 and 5 y8ars Total 25. RELATED PARTY TRANSACTIONS The Charity has taken advantage of the exemption available under FRS102 "Related Party Disclosures" whereby it has not disclosed transactions with the wholly owned subsidiary undertaking in the group. There were no other related party transactions during the year. 26. PRINCIPAL SUBSIDIARIES Bronelrlon Ltd Subsidiary Name Company registratlon number Basis of Control Equity Shareholding 0/0 Broneirion Ltd 04260833 1000/0 owned subsidiary 1000/0 Total assets as at 31 March 2024 Total liabilities as at 31 March 2024 Total equity as at 31 March 2024 £nil £(437,944) £1437,944) The above company was dormant in the year. 27. POST BALANCE SHEET EVENTS Since the year-end, in May 2024, the charity acquired a new freehold property which the charity will now operate from going forward. The total cost of the prop8rty was £512,750. Page138