**REGISTERED CHARITY NUMBER: 521781**
**Unaudited Financial Statements for the Year Ended 31 December 2023**
**for**
**The Guide Association - Midlands Known as Girlguiding Midlands**
The Rowleys Partnership Ltd Chartered Accountants Charnwood House Harcourt Way Meridian Business Park Leicester Leicestershire LE19 1WP
**The Guide Association - Midlands Known as Girlguiding Midlands**
## **Contents of the Financial Statements for the Year Ended 31 December 2023**
||**Page**|
|---|---|
|**Reference and Administrative Details**|1|
|**Report of the Trustees**|2 to 7|
|**Independent Examiner's Report**|8|
|**Statement of Financial Activities**|9|
|**Balance Sheet**|10 to 11|
|**Cash Flow Statement**|12|
|**Notes to the Cash Flow Statement**|13|
|**Notes to the Financial Statements**|14 to 27|
**The Guide Association - Midlands Known as Girlguiding Midlands**
## **Reference and Administrative Details for the Year Ended 31 December 2023**
|**TRUSTEES**|A Llywelyn-Jones (appointed 31.7.23)|
|---|---|
||J Brocklehurst (resigned 2.7.23)|
||C Shinton|
||M Lewis (resigned 31.8.23)|
||S Myers|
||C Kerr|
||N Lomas|
||A Cooney|
||S Harrold|
||K Pogson|
||S Bucknell|
||J Long|
||K Belcher|
||J Price|
||A Arter (appointed 1.9.23)|
|**CHIEF COMMISSIONER**|C Shinton|
|**DEPUTY CHIEF COMMISSIONER**|J Brocklehurst until 2.7.23|
||A Llywelyn-Jones from 31.7.23|
|**CHAIR OF FINANCE**|J Mackin|
|**PRINCIPAL ADDRESS**|21 Lower Church Street|
||Ashby de la Zouch|
||Leicestershire|
||LE65 1AB|
|**REGISTERED CHARITY NUMBER**|521781|
|**INDEPENDENT EXAMINER**|The Rowleys Partnership Ltd|
||Chartered Accountants|
||Charnwood House|
||Harcourt Way|
||Meridian Business Park|
||Leicester|
||Leicestershire|
||LE19 1WP|
|**BANKERS**|Lloyds Bank plc|
||1 Marlborough Square|
||Coalville|
||Leicestershire|
||LE67 3WD|
Page 1
**The Guide Association - Midlands Known as Girlguiding Midlands**
## **Report of the Trustees for the Year Ended 31 December 2023**
The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. 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).
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and 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 published in October 2019.
## **Statement of purpose**
Girlguiding promotes the well-being of girls and young women to help them develop emotionally, mentally, physically and spiritually so they can make a positive contribution to their community and the wider world.
## **Constitution**
The Guide Association Midlands (known as Girlguiding Midlands) is a registered charity which administers guiding in the Midlands Region of the United Kingdom on behalf of The Guide Association (known as Girlguiding). The latter is a separately registered charity and is incorporated by Royal Charter. The region Constitution was updated and approved by the Girlguiding Board of Trustees on 25 September 2021.
## **Organisation Structure**
The Guide Association Midlands is governed by an Executive Committee.
There are eleven counties in the Midlands Region, each having a county commissioner, who is appointed by the chief commissioner, in consultation with the county executive committee, and as such they are responsible for the overseeing of administration in their county.
The trustees of the region are the chief commissioner and the deputy chief commissioner and the 11 county commissioners all of whom have voting rights. In line with Charity Commission guidance, each county has only one trustee on the Girlguiding Midlands Executive Committee. A full list of trustees is given on page 1.
Page 2
**The Guide Association - Midlands Known as Girlguiding Midlands**
## **Report of the Trustees for the Year Ended 31 December 2023**
## **OBJECTIVES AND ACTIVITIES Objectives and aims**
Girlguiding Midlands is part of Girlguiding, the leading charity for girls and young women in the UK. We build girls' confidence and raise their aspirations; give them a chance to discover their potential and encourage them to be a powerful force for good. We give them a space to have fun.
Our leaders run Rainbows (4 to 7 years), Brownies (7 to 10 years), Guides (10 to 14 years) and Rangers (14 to 18 years). Girlguiding also has a community called Inspire for members aged 18-30.
We enable girls and young women to be the best they can be, whatever their ability or background. We offer new opportunities to girls in a broad diversity of communities through our network of volunteers.
Our Strategic Plan focuses on supporting volunteers to enable them to be inspirational leaders and offering every girl the chance to be her best and to have her voice heard.
We aim to maintain a large membership of girls who benefit from guiding and to strengthen the support to our volunteers to make guiding happen in the best way, across the region.
The Board of Trustees warmly thanks every volunteer for enabling our charity and our girls to thrive.
At the start of 2023 the Trustees and other representatives of Girlguiding Midlands updated the region's Strategic Plan which was aligned with Girlguiding's updated aims and objectives.
Our Trustees are delighted to present this report according to the themes of the 2023 Strategic Plan:
**1. Exceptional Experiences for Girls 2. Rewarding Volunteer Experience**
**3. Inclusive and Impactful Organisation 4. Brilliant Basics**
Girlguiding's membership has been impacted recently by the increased cost of living affecting everyone in the U.K. Some groups have found it more challenging to secure meeting spaces and to keep guiding as an affordable activity for its young members. The region was able to deliver activities for girls and for volunteers as well as provide training.
Page 3
**The Guide Association - Midlands Known as Girlguiding Midlands**
## **Report of the Trustees for the Year Ended 31 December 2023**
## **OBJECTIVES AND ACTIVITIES Significant activities THEME 1: Exceptional experiences for Girls**
The region was delighted to continue to offer face-to-face experiences for girls and organised events for each section at venues such as a festive fun day at Lower Drayton Farm for Rainbows and Brownies, events at Drayton Manor Adventure Park for Brownies, camping and music festival for Guides and Rangers. Adult leaders had the chance to Ride around the Region using different forms of transport and collecting memorabilia. Young women (14-18) had the chance to take part in online careers chats and others (18-30) took part in camping events and days exploring Birmingham.
Plans were made for the 2024 events which will include a Rainbow Big Sleepover, Rainbow and Brownie days at Legoland Birmingham, Brownies and Guides at Legoland Windsor and older Guides and Rangers will be able to take part in adventures around Edinburgh.
International trips took place around the Adriatic and Serbia; Guide age girls enjoyed the chance to take part in an International Community Experience (ICE) on the Isle of Man.
Region advisers met in person in October to network with county representatives and collect input for the 2024 plans.
During 2023, 15 adult members and friends took part in a SkyDive and collectively raised £5,300 which will be used to enable Adventures for young members. Well done to all who took part.
## **THEME 2: Rewarding Volunteer experience**
At the start of 2023 the region's lead volunteers held a team building day and finalised the plans for the year. In addition, regular meetings of the team leaders were held online and in person to monitor and record progress.
Training continued throughout the year delivered by the region trainers. Courses were offered in Safeguarding and First Response as well as new modules on the Girlguiding's learning and development platform topics.
Subjects were selected for 'Chat with Confidence' to support commissioners in their role.
There were also opportunities for training in outdoor first aid and water safety, as well as level 2 walking qualifications and a social walking weekend. A challenge pack to encourage all ages to get out and walk was launched, this was called Ramble around the Region.
Two weekend events were held for new commissioners so that they receive training relevant to the role.
Adult volunteers were thanked during Volunteers' Week in June.
The region continues to hold regular Awards meetings and held its Chief Commissioner's Awards event in December for 61 volunteers. Girlguiding's highest award, the Silver Fish, was presented to Abi Salter in September. A Laurel award was presented to Chris James in November. Congratulations to all the recipients in recognition of their personal contribution to guiding.
Page 4
**The Guide Association - Midlands Known as Girlguiding Midlands**
## **Report of the Trustees for the Year Ended 31 December 2023**
## **OBJECTIVES AND ACTIVITIES THEME 3: Inclusive and Impactful organisation**
Subscriptions were paid by 51,317 in 2023 (49,337 in 2022). Once again, the annual trend for membership has followed the more usual pattern than that which was seen during the pandemic years.
New enquiries for girl members still remain high, though lower for adult volunteers.
Get Out And Listen (GOAL), whereby the region team invites grass roots leaders and their girls to have a say on specific subjects, continued. This enables the region lead volunteers to really hear what our members want.
The social action project in partnership with The Trussell Trust continued until early February 2023 raising £2,047 for their charity.
Details of online events and opportunities were regularly added to the region's website and promoted on social media. Regular e-newsletters were sent to volunteers containing key news items.
Girlguiding Midlands' members took part in Birmingham PRIDE in May.
A small group of volunteer members across the region has established an Equity, Diversity and Inclusion team who are available to respond to enquiries and to support event teams to ensure that events are accessible to members.
## **THEME 4: Brilliant Basics**
The region's lead volunteer team has adapted in response to demand for subject matter advisers and to separate roles into more manageable sizes. The Finance committee and the Risk and Compliance committee have held regular meetings throughout the year. Each committee provides input to the region's Executive Committee meetings.
One member of staff resigned in September. Her replacement has been recruited and will begin work in January 2024.
Annual maintenance of the office fittings was carried out as planned.
## **Public benefit**
The Charity's aims and objectives reflect those of The Guide Association which are described in the Royal Charter. The Trustees confirm that they have complied with the duty of section 17 of the Charities Act 2011 in 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 and in planning future activities.
Page 5
**The Guide Association - Midlands Known as Girlguiding Midlands**
## **Report of the Trustees for the Year Ended 31 December 2023**
## **FINANCIAL REVIEW**
## **Financial position**
The charity is heavily reliant on its main income from subscriptions.
The charity aims to operate at a small loss or break even with the organisation of events for members. In 2023, a deficit of £13,299 (2022: £18,908 deficit) was generated from these activities.
The finances of Girlguiding Midlands are governed by two basic principles: - Financial resources should be used for the benefit of members
- Financial resources should be managed prudently having regard to both current and future members.
## **Investment policy and objectives**
The investment policy is governed by the Reserves policy as stated below and in particular the aims and objectives of the organisation. Other than amounts agreed by the Board of Trustees to be used for specifically designated projects, surplus Reserves may be invested primarily to generate income. Such income helps to cover annual costs and thus keeps members subscriptions lower than they would otherwise be. Work was carried out with the Investment Managers to ensure that only ethical investments were procured.
## **Reserves policy**
For this purpose, Reserves are defined as Free Reserves i.e. the liquid resources available to the Trustees to spend at their discretion to achieve the objectives of the organisation.
Free Reserves in Girlguiding Midlands are the Unrestricted Funds less the Tangible Fixed Assets.
Girlguiding Midlands retains adequate Free Reserves as working capital to meet its day to day needs and safeguard against unexpected deficits of income against expenditure. Reserves will be sufficient to cover such deficits and also allow enough headroom to deal with an uneven cash flow throughout the year. The minimum Free Reserves figure required is an amount equal to the organisation's annual expenditure and is reviewed annually in the light of changes to expenditure levels and the pattern of cash flows.
Any Reserves held by the organisation over and above that figure are at the disposal of the trustees to meet their longer term strategic objectives. To the extent that these involve capital projects the estimated amounts will be designated for those purposes in the financial statements.
The free reserves as calculated above, represent about £3.13 per member (2022: £2.90).
The balance of restricted funds at the year end was £3,675 (2022: £5,437).
## **FUTURE PLANS**
Groups of key volunteers have met and prepared plans for 2024. The plan is presented to the trustees for approval.
This process enables the region to make sure that its plan and subsequent actions and activities reflect the needs of the charity and the voice of its members.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Page 6
**The Guide Association - Midlands Known as Girlguiding Midlands**
## **Report of the Trustees for the Year Ended 31 December 2023**
Girlguiding Midlands is governed by an Executive Committee.
## **Trustees Induction and Training**
Most trustees are already familiar with the practical work of the Charity having undertaken similar roles within their County. Trustee training has been carried out to support volunteers and all Trustees sign an annual declaration to confirm their ability to be a region Trustee.
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The major risks facing Girlguiding Midlands are regularly reviewed by the Risk and Compliance committee which makes recommendations to members of the Executive Committee.
Approved by order of the board of trustees on 27 April 2024 and signed on its behalf by:
...................................................
C Shinton - Trustee
Page 7
**Independent Examiner's Report to the Trustees of The Guide Association - Midlands**
## **Independent examiner's report to the trustees of The Guide Association - Midlands**
I report to the charity trustees on my examination of the accounts of The Guide Association - Midlands (the Trust) for the year ended 31 December 2023.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mrs P Swann-Jones FCA
The Rowleys Partnership Ltd Chartered Accountants Charnwood House Harcourt Way Meridian Business Park Leicester Leicestershire LE19 1WP
Date: .............................................
Page 8
## **The Guide Association - Midlands Known as Girlguiding Midlands**
## **Statement of Financial Activities for the Year Ended 31 December 2023**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
3
**Charitable activities**
5
Guiding activities
Investment income
4
**Total**
**EXPENDITURE ON**
**Charitable activities**
6
Guiding activities
Management support costs
Direct costs
**Total**
Net gains/(losses) on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
159,965
684,655
25,938
870,558
574,943
85,103
188,928
848,974
57,606
79,190
1,200,295
1,279,485|
Restricted
funds
£
296
-
-
296
1,501
557
-
2,058
-
(1,762)
5,437
3,675|2023
Total
funds
£
160,261
684,655
25,938
870,854
576,444
85,660
188,928
851,032
57,606
77,428
1,205,732
1,283,160|2022
Total
funds
£
41,999
323,141
19,449
384,589
247,153
78,863
152,588
478,604
(107,087)
(201,102)
1,406,834
1,205,732|
|---|---|---|---|---|
The notes form part of these financial statements
Page 9
## **The Guide Association - Midlands Known as Girlguiding Midlands**
## **Balance Sheet 31 December 2023**
|Notes
**FIXED ASSETS**
Tangible assets
12
Investments
13
**CURRENT ASSETS**
Stocks
14
Debtors: amounts falling due within one year
15
Cash at bank
**CREDITORS**
Amounts falling due within one year
16
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**NET ASSETS**|Unrestricted
funds
£
31,372
1,087,259
1,118,631
22,257
62,785
151,915
236,957
(76,103)
160,854
1,279,485
1,279,485|Restricted
funds
£
-
-
-
-
-
3,675
3,675
-
3,675
3,675
3,675|2023
Total
funds
£
31,372
1,087,259
1,118,631
22,257
62,785
155,590
240,632
(76,103)
164,529
1,283,160
1,283,160|2022
Total
funds
£
35,060
1,022,005
1,057,065
14,351
38,379
223,925
276,655
(127,988)
148,667
1,205,732
1,205,732|
|---|---|---|---|---|
The notes form part of these financial statements
continued...
Page 10
## **The Guide Association - Midlands Known as Girlguiding Midlands**
## **Balance Sheet - continued 31 December 2023**
|Notes
**FUNDS**
17
Unrestricted funds:
General Fund
Capital Fund
Restricted funds:
D H Marshall
Buchanan Legacy Fund
Generation Green
**TOTAL FUNDS**|192,226
1,087,259
1,279,485
3,153
522
-
3,675
1,283,160|178,290
1,022,005
1,200,295
4,261
226
950
5,437
1,205,732|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 27 April 2024 and were signed on its behalf by:
............................................. C Shinton - Trustee
The notes form part of these financial statements
Page 11
## **The Guide Association - Midlands Known as Girlguiding Midlands**
## **Cash Flow Statement for the Year Ended 31 December 2023**
|||2023|2022|
|---|---|---|---|
||Notes|£|£|
|**Cash flows from operating activities**||||
|Cash generated from operations|1|(86,283)|(72,434)|
|Net cash used in operating activities||(86,283)|(72,434)|
|**Cash flows from investing activities**||||
|Purchase of tangible fixed assets||(342)|(6,503)|
|Purchase of fixed asset investments||(825,594)|(373,217)|
|Sale of fixed asset investments||763,713|342,355|
|Movement in cash investments||54,233|29,052|
|Interest received||2,911|427|
|Dividends received||23,027|19,022|
|Net cash provided by investing activities||17,948|11,136|
|||||
|**Change in cash and cash equivalents in**||||
|**the reporting period**||(68,335)|(61,298)|
|**Cash and cash equivalents at the**||||
|**beginning of the reporting period**||223,925|285,223|
|**Cash and cash equivalents at the end**||||
|**of the reporting period**||155,590|223,925|
The notes form part of these financial statements
Page 12
**The Guide Association - Midlands Known as Girlguiding Midlands**
## **Notes to the Cash Flow Statement for the Year Ended 31 December 2023**
|**1.**
**RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING**
**ACTIVITIES**
2023
£
**Net income/(expenditure) for the reporting period (as per the**
**Statement of Financial Activities)**
77,428
**Adjustments for:**
Depreciation charges
3,970
(Gain)/losses on investments
(57,606)
Loss on disposal of fixed assets
60
Interest received
(2,911)
Dividends received
(23,027)
(Increase)/decrease in stocks
(7,906)
Increase in debtors
(24,406)
(Decrease)/increase in creditors
(51,885)
**Net cash used in operations**
(86,283)
**2.**
**ANALYSIS OF CHANGES IN NET FUNDS**|2022
£
(201,102)
3,119
107,087
-
(427)
(19,022)
4,932
(26,233)
59,212
(72,434)|
|---|---|
||At 1.1.23|Cash flow|At 31.12.23|At 31.12.23|
|---|---|---|---|---|
||£|£||£|
|**Net cash**|||||
|Cash at bank|223,925|(68,335)||155,590|
|**Total**|223,925|(68,335)||155,590|
The notes form part of these financial statements
Page 13
**The Guide Association - Midlands Known as Girlguiding Midlands**
**Notes to the Financial Statements for the Year Ended 31 December 2023**
## **1. CHARITY INFORMATION**
The Guide Association - Midlands is an unincorporated charity registered with the Charity Commission for England and Wales. The contact address is 21 Lower Church Street, Ashby de la Zouch, Leicestershire LE65 1AB.
## **2. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## **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.
Donations, grants, legacies, subscriptions and dividend income are included in the year in which they are receivable, which is when the charity becomes entitled to the resource. Bank interest received on deposits is accounted for on an accruals basis.
For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.
Income from events is recognised at the point of delivery of the event.
## **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 benefits 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.
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include management costs. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.
Expenditure on events is recognised at the point of delivery of the event.
continued...
Page 14
**The Guide Association - Midlands Known as Girlguiding Midlands**
**Notes to the Financial Statements - continued for the Year Ended 31 December 2023**
## **2. ACCOUNTING POLICIES - continued**
## **Charitable activities**
The charity has met its charitable purpose by undertaking training and education programmes on a weekly basis to girls and young women across the Midland Region. In addition the charity has provided support and grants to individuals to allow them to attend events.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 0% depreciation Plant and machinery - 33% on cost Fixtures and fittings - 20% on cost
Freehold property is maintained to such a standard that the residual value is at least equal to the book value at any given time. Consequently no depreciation has been provided and any provision that would otherwise be required under FRS102 is not considered to be material.
Fixed assets are reviewed for impairment if events or changes in circumstances indicate that the carrying amount may not be recoverable or as otherwise required by relevant accounting standards.
## **Stocks**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
## **Taxation**
The charity is exempt from tax on its charitable activities. Expenses are inclusive of VAT where applicable.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Donated services**
A large number of training and education programmes have been taken and supervised by volunteers. These are not valued in the accounts in accordance with FRS 102 due to the difficulty in ascertaining the hours involved and a reliable cost figure.
continued...
Page 15
**The Guide Association - Midlands Known as Girlguiding Midlands**
**Notes to the Financial Statements - continued for the Year Ended 31 December 2023**
## **2. ACCOUNTING POLICIES - continued**
## **Fixed assets investments**
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in 'net gains / (losses) on investments' in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
## **Cash and cash equivalents**
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.
## **Basic financial assets**
Basic financial assets, which include debtors and cash and bank balances are initially measured at transaction price including transaction costs and subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## **Basic financial liabilities**
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
## **Employee benefits**
The cost of short-term employee benefits are recognised as a liability and an expense. The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **Pension costs and other post- retirement benefits**
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statements of Financial Activities in the period to which they relate.
## **Leasing commitments**
Operating leases and the payments made under them are charged to the Statement of Financial Activities on a straight line basis over the lease term.
## **Going concern**
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from the date of approving these financial statements. The budgeted income and expenditure is sufficient with the level of reserves, for the charity to be able to continue as a going concern.
continued...
Page 16
**The Guide Association - Midlands Known as Girlguiding Midlands**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2023**
## **3. DONATIONS AND LEGACIES**
|HQ new unit grant
Buchanan Legacy
Fund
HQ King George A
HQ King George B
Unit Recovery
Grant
Generation Green
Grant
HQ First Response
Training Grant
DCMS Uniformed
Youth Fund
HQ Subs Alleviation
Fund
UYF Claim
Children in Need
Grant
Donations & other
income|Unrestricted
Funds
£
1,243
-
1,159
149
-
-
-
32,788
47,000
66,498
4,431
6,697
159,965|Restricted
Funds
£
-
296
-
-
-
-
-
-
-
-
-
-
296|Total
31.12.23
£
1,243
296
1,159
149
-
-
-
32,788
47,000
66,498
4,431
6,697
160,261|Unrestricted
Funds
£
3,254
-
880
113
5,179
-
14,235
11,612
-
-
-
1,500
36,773|Restricted
Funds
£
-
226
-
-
-
5,000
-
-
-
-
-
-
5,226|Total
31.12.22
£
3,254
226
880
113
5,179
5,000
14,235
11,612
-
-
-
1,500
41,999|
|---|---|---|---|---|---|---|
continued...
Page 17
## **The Guide Association - Midlands Known as Girlguiding Midlands**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2023**
## **4. INVESTMENT INCOME**
|Bank deposit
interest
Interest on
investments
Dividends|Unrestricted
£
1,392
1,519
23,027
25,938|Restricted
£
-
-
-
-|Total
31.12.23
£
1,392
1,519
23,027
25,938|Unrestricted
£
18
409
19,022
19,449|Restricted
£
-
-
-
-|Total
31.12.22
£
18
409
19,022
19,449|
|---|---|---|---|---|---|---|
## **5. INCOME FROM CHARITABLE ACTIVITIES**
|Subscriptions
Events
Badge and books income|2023
Guiding
activities
£
307,902
346,959
29,794
684,655|2022
Total
activities
£
246,695
55,608
20,838
323,141|
|---|---|---|
Of total income from charitable activities £684,655 (2022: £323,141) was unrestricted and £Nil (2022: £Nil) was restricted.
Events income relates to camps, outings and overseas trips organised by the region for the benefit of its members.
continued...
Page 18
**The Guide Association - Midlands Known as Girlguiding Midlands**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2023**
## **6. CHARITABLE ACTIVITIES COSTS**
|Guiding activities
Management support costs
Direct costs|Direct
Costs (see
note 7)
£
575,974
-
188,928
764,902|Support
costs (see
note 8)
£
470
85,660
-
86,130|Totals
£
576,444
85,660
188,928
851,032|
|---|---|---|---|
Of total expenditure on charitable activities £848,974 (2022: £474,057) was unrestricted and £2,058 (2022: £4,547) was restricted.
## **7. DIRECT COSTS OF CHARITABLE ACTIVITIES**
|Staff costs
Printing and stationery
Events
Bursaries and grants
Conferences and committees
Training and development
Badge and books cost of production|2023
£
171,726
17,202
360,258
123,012
15,295
50,968
26,441
764,902|2022
£
140,955
11,633
74,516
50,431
22,875
70,688
28,093
399,191|
|---|---|---|
The region offers several events to its young members throughout the year most of which are selffunding. For some international events an agreed bursary is offered to leaders and participants.
## **8. SUPPORT COSTS**
|Guiding activities
Management support costs|Governance
Other
costs
£
£
470
-
63,379
22,281
63,849
22,281|Totals
£
470
85,660
86,130|
|---|---|---|
continued...
Page 19
**The Guide Association - Midlands Known as Girlguiding Midlands**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2023**
## **8. SUPPORT COSTS - continued**
## **Management support costs**
|Water rates
Light and heat
Telephone,postage and broadband
Insurance
Accountancy
Hire of equipment
Repairs and renewals
Depreciation
Sundry expenses
Bank charges
Investment management costs
Loss on disposal of tangible fixed assets
**Governance costs**
Staff costs
Auditors' remuneration
Independent examination|31.12.23
£
403
4,728
15,138
3,783
5,264
1,013
18,644
3,970
3,411
131
7,304
60
63,849
31.12.23
£
19,081
-
3,200
22,281|31.12.22
£
452
2,396
15,280
2,357
5,167
1,013
19,072
3,119
3,969
105
7,621
-
60,551
31.12.22
£
15,662
3,200
-
18,862|
|---|---|---|
## **Governance costs**
## **9. AUDITORS'/INDEPENDENT EXAMINER'S REMUNERATION**
The amount payable to the auditor/independent examiner was £7,170 (2022: £7,170), including £3,200 (2022: £3,200) for audit/independent examination services and £3,970 (2022: £3,970) for other services.
continued...
Page 20
**The Guide Association - Midlands Known as Girlguiding Midlands**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2023**
## **10. TRUSTEES' REMUNERATION AND BENEFITS**
|The average weekly number of trustees during the year|31.12.23
13|31.12.22
13|
|---|---|---|
None of the trustees received any remuneration during the current or previous year.
## **Trustees' expenses**
Expenses totalling £8,062 (2022: £8,553) were paid to 16 trustees (2022: 13) during the year for travelling expenses and administration costs.
## **11. STAFF COSTS**
|Staff costs were as follows:
Wages and salaries
Pension costs - defined contribution scheme
Social security costs|31.12.23
£
170,705
11,349
8,753
190,807|31.12.22
£
143,055
5,874
7,688
156,617|
|---|---|---|
The average monthly number of employees during the year was as follows:
||2023|2022|
|---|---|---|
|Administration staff|8|7|
No employees received emoluments in excess of £60,000.
continued...
Page 21
**The Guide Association - Midlands Known as Girlguiding Midlands**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2023**
## **12. TANGIBLE FIXED ASSETS**
|Freehold
Plant and
property
machinery
£
£
**COST**
At 1 January 2023
26,416
26,813
Additions
-
-
Disposals
-
(3,089)
At 31 December 2023
26,416
23,724
**DEPRECIATION**
At 1 January 2023
-
18,170
Charge for year
-
3,913
Eliminated on disposal
-
(3,029)
At 31 December 2023
-
19,054
**NET BOOK VALUE**
At 31 December 2023
26,416
4,670
At 31 December 2022
26,416
8,643
**13.**
**FIXED ASSET INVESTMENTS**
Shares
Other|Fixtures
and
fittings
£
16,571
342
-
16,913
16,570
57
-
16,627
286
1
2023
£
1,070,422
16,837
1,087,259|Totals
£
69,800
342
(3,089)
67,053
34,740
3,970
(3,029)
35,681
31,372
35,060
2022
£
950,935
71,070
1,022,005|
|---|---|---|
continued...
Page 22
**The Guide Association - Midlands Known as Girlguiding Midlands**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2023**
## **13. FIXED ASSET INVESTMENTS - continued**
Additional information as follows:
|**MARKET VALUE**
At 1 January 2023
Additions
Disposals
Revaluations
At 31 December 2023
**NET BOOK VALUE**
At 31 December 2023
At 31 December 2022
Quilter Cheviot fixed interest investments
Quilter Cheviot UK equities
Quilter Cheviot overseas equities
Quilter Cheviot alternative investments
Investments (neither listed nor unlisted) were as follows:
Cash investments|31.12.23
£
232,817
274,364
475,820
87,421
1,070,422
2023
£
16,837||Listed
investments
£
950,935
825,594
(763,713)
57,606
1,070,422
1,070,422
950,935
31.12.22
£
206,475
191,150
416,330
136,980
950,935
2022
£
71,070|
|---|---|---|---|
|||||
|||||
continued...
Page 23
**The Guide Association - Midlands Known as Girlguiding Midlands**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2023**
|**14.**
**STOCKS**
Stocks
**15.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Amounts paid in advance
Prepayments
**16.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Social security and other taxes
Other creditors
Events deferred income
Accrued expenses||2023
£
22,257
2023
£
27,909
29,078
5,798
62,785
2023
£
1,405
5,459
1,470
59,239
8,530
76,103|2022
£
14,351
2022
£
12,082
20,436
5,861
38,379
2022
£
6,431
3,371
815
106,538
10,833
127,988|
|---|---|---|---|
|||||
continued...
Page 24
**The Guide Association - Midlands Known as Girlguiding Midlands**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2023**
## **17. MOVEMENT IN FUNDS**
|Net
movement
At 1.1.23
in funds
£
£
**Unrestricted funds**
General Fund
178,290
4,342
Capital Fund
1,022,005
74,848
1,200,295
79,190
**Restricted funds**
D H Marshall
4,261
(1,108)
Buchanan Legacy Fund
226
296
Generation Green
950
(950)
5,437
(1,762)
**TOTAL FUNDS**
1,205,732
77,428
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General Fund
846,012
(841,670)
Capital Fund
24,546
(7,304)
870,558
(848,974)
**Restricted funds**
D H Marshall
-
(1,108)
Buchanan Legacy Fund
296
-
Generation Green
-
(950)
296
(2,058)
**TOTAL FUNDS**
870,854
(851,032)||Transfers
between
funds
£
9,594
(9,594)
-
-
-
-
-
-
Gains and
losses
£
-
57,606
57,606
-
-
-
-
57,606|At
31.12.23
£
192,226
1,087,259
1,279,485
3,153
522
-
3,675
1,283,160
Movement
in funds
£
4,342
74,848
79,190
(1,108)
296
(950)
(1,762)
77,428|
|---|---|---|---|
|||||
|||||
|||||
|||||
continued...
Page 25
**The Guide Association - Midlands Known as Girlguiding Midlands**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2023**
## **17. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|Net
Transfers
movement
between
At 1.1.22
in funds
funds
£
£
£
**Unrestricted funds**
General Fund
279,552
(106,504)
5,242
Capital Fund
1,122,524
(95,277)
(5,242)
1,402,076
(201,781)
-
**Restricted funds**
D H Marshall
4,758
(497)
-
Buchanan Legacy Fund
-
226
-
Generation Green
-
950
-
4,758
679
-
**TOTAL FUNDS**
1,406,834
(201,102)
-
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
Gains and
resources
expended
losses
£
£
£
**Unrestricted funds**
General Fund
359,932
(466,436)
-
Capital Fund
19,431
(7,621)
(107,087)
379,363
(474,057)
(107,087)
**Restricted funds**
D H Marshall
-
(497)
-
Buchanan Legacy Fund
226
-
-
Generation Green
5,000
(4,050)
-
5,226
(4,547)
-
**TOTAL FUNDS**
384,589
(478,604)
(107,087)|At
31.12.22
£
178,290
1,022,005
1,200,295
4,261
226
950
5,437
1,205,732
Movement
in funds
£
(106,504)
(95,277)
(201,781)
(497)
226
950
679
(201,102)|
|---|---|
## **Restricted Funds**
## **D H Marshall**
This fund is utilised for the purchase of additional uniform as required by the current Chief and Deputy Chief Commissioners, as agreed by the Midlands Region Executive Committee.
continued...
Page 26
**The Guide Association - Midlands Known as Girlguiding Midlands**
**Notes to the Financial Statements - continued for the Year Ended 31 December 2023**
## **17. MOVEMENT IN FUNDS - continued**
## **Buchanan Legacy Fund**
This fund is available for use at the sole discretion of the Region Chief Commissioner.
## **Generation Green**
This fund is to be utilised to provide outdoor training to volunteers.
## **18. EMPLOYEE BENEFIT OBLIGATIONS**
## **Defined Contribution**
The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund.
|Contributions payable by the charity for the year|31.12.23
£
11,349|31.12.22
£
5,874|
|---|---|---|
## **19. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2023.
## **Connected Charities**
The Guide Association of 17/19 Buckingham Palace Road, London SW1W 0PT is the leading charity for girls and young women. Girlguiding Midlands is one of a number of charities administering guiding on behalf of the Association in the different counties and regions of the United Kingdom.
As part of a national administrative process Girlguiding Midlands subscriptions are collected on its behalf by The Guide Association and remitted back.
Page 27