2024-07-31-accounts

Charity registration number 522396

GIRLGUIDING LINCOLNSHIRE SOUTH

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

GIRLGUIDING LINCOLNSHIRE SOUTH

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees	Miss B Charity
	Miss K Armstrong
	Mrs W Ireland, Chair
	Mrs S Coughlin
	Mrs N Redfern
	Mrs K Kilby
	Mrs N Day
	Mrs C Mason
	Mr D Ireland
Charity number	522396
Principal address	17 Linden Road
	Horncastle
	Lincolnshire
	LN9 5EE
Independent examiner	TC Group
	33 Boston Road
	Holbeach
	Spalding
	Lincolnshire
	PE12 7LR

GIRLGUIDING LINCOLNSHIRE SOUTH

CONTENTS

	Page
Trustees report	1 - 2
Statement of trustees responsibilities	3
Independent examiner's report	4
Statement of financial activities	5 - 6
Balance sheet	7
Notes to the financial statements	8 - 17

GIRLGUIDING LINCOLNSHIRE SOUTH

TRUSTEES REPORT

FOR THE YEAR ENDED 31 JULY 2024

The trustees present their annual report and financial statements for the year ended 31 July 2024.

Objectives and activities

Objects and aims

The trust deed defines the charity's objective as being:

"The instruction of girls at all classes in the principles of discipline, loyalty and good citizenship"

To achieve these objectives, the charity operates a number of projects. All projects are monitored closely by the executive committee to ensure that projects are delivered to maximise the value to the charity.

Public benefit

In planning our activities for the year we kept in mind the Charities Commission's guidance on public benefit at our trustee meetings.

The trustees are very grateful to all the volunteers who have given their time so generously in helping the charity during the year.

The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Financial review

Policy on reserves

The finance committee on behalf of the board of trustees conducts an annual review of the level of unrestricted reserves not committed or invested in tangible fixed assets ("the free reserves") in the general fund by considering the risks associated with the general fund, the risks associated with the various income streams, expenditure plans and balance sheet items. This enables an estimate to be made of the level of reserves that are sufficient:

i) to allow for reorganisation in the event of a downturn of income or asset values: and ii) to protect ongoing work programmes

The level is estimated at between 2 and 4 months of the general expected budget. The reserves currently held in general funds are £129,469 (2023 - £159,434) which meets the objective.

Principal funding sources

The principal funding sources for the charity are currently by way of the income from subscriptions from Girlguiding at county level and events at county level.

Structure, governance and management

Nature of governing document

The charity is governed under Royal Charter dated 14 December 1922.

• 1 -

GIRLGUIDING LINCOLNSHIRE SOUTH

TRUSTEES REPORT (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2024

Recruitment and appointment of trustees

The trustees who have served during the year and since the year end are set out on page 1. The board of trustees have the general control and management of the administration of the charity.

The trustees are appointed following the constitution. The County Commissioner appoints persons to these roles.

Induction and training of trustees

New trustees undergo orientation sessions which include observation at a committee of management meeting prior to becoming a trustee.

The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that necessary steps can be taken to lessen these risks.

Financial instruments

Objectives and policies

The charity’s activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.

Credit risk

The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows. The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies. The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.

The trustees report was approved by the Board of Trustees.

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.............................. Trustee 21/11/2024 Dated: .........................

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GIRLGUIDING LINCOLNSHIRE SOUTH

STATEMENT OF TRUSTEES RESPONSIBILITIES

FOR THE YEAR ENDED 31 JULY 2024

The trustees are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and 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 year.

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;

• 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; and

• 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 sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (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.

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GIRLGUIDING LINCOLNSHIRE SOUTH

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF GIRLGUIDING LINCOLNSHIRE SOUTH

I report to the trustees on my examination of the financial statements of Girlguiding Lincolnshire South (the charity) for the year ended 31 July 2024.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

• 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or

• 2 the financial statements do not accord with those records; or

• 3 the financial statements 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 financial statements to be reached.

Christopher McKenna ACA

TC Group 33 Boston Road Holbeach Spalding Lincolnshire PE12 7LR

Dated: .........................

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GIRLGUIDING LINCOLNSHIRE SOUTH

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 JULY 2024

Current financial year Unrestricted Unrestricted Restricted Endowment funds funds funds funds general designated 2024 2024 2024 2024 Notes £ £ £ £ Income from: Donations and legacies 3 26,788 - - - Charitable activities 4 1,973 100,811 - - Other trading activities 5 8,059 - - - Investments 6 6,398 422 - - Total income 43,218 101,233 - - Expenditure on: Charitable activities 7 60,051 122,555 - - Total expenditure 60,051 122,555 - - Net expenditure (16,833) (21,322) - - Transfers between funds (13,132) 13,132 - - Net movement in funds (29,965) (8,190) - - Reconciliation of funds: Fund balances at 1 August 2023 159,434 130,017 2,223 529,592 Fund balances at 31 July 2024 129,469 121,827 2,223 529,592	Total 2024 £ 26,788 102,784 8,059 6,820 144,451 182,606 182,606 (38,155) - (38,155) 821,266 783,111	Total 2023 £ 24,844 22,119 5,675 3,529 56,167 79,133 79,133 (22,966) - (22,966) 844,232 821,266

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

• 5 -

GIRLGUIDING LINCOLNSHIRE SOUTH

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 JULY 2024

Prior financial year Unrestricted Unrestricted Restricted Endowment funds funds funds funds general designated 2023 2023 2023 2023 Notes £ £ £ £ Income from: Donations and legacies 3 24,844 - - - Charitable activities 4 2,770 19,349 - - Other trading activities 5 5,675 - - - Investments 6 3,170 359 - - Total income 36,459 19,708 - - Expenditure on: Charitable activities 7 39,296 39,837 - - Total expenditure 39,296 39,837 - - Net income and movement in funds (2,837) (20,129) - - Reconciliation of funds: Fund balances at 1 August 2022 162,271 150,146 2,223 529,592 Fund balances at 31 July 2023 159,434 130,017 2,223 529,592

Total 2023 £ 24,844 22,119 5,675 3,529 56,167 79,133 79,133 (22,966) 844,232 821,266

• 6 -

GIRLGUIDING LINCOLNSHIRE SOUTH

BALANCE SHEET

AS AT 31 JULY 2024

Notes Fixed assets Tangible assets 13 Current assets Stocks 14 Debtors 15 Cash at bank and in hand Creditors: amounts falling due within one year 16 Net current assets Total assets less current liabilities Capital funds General funds Income funds Restricted funds Unrestricted funds - designated Unrestricted funds - general	2024 £ 2,781 5,296 245,242 253,319 (978)	£ 530,770 252,341 783,111 529,592 2,223 121,827 129,469 783,111	2023 £ 2,978 16,626 271,822 291,426 (930)	£ 530,770 290,496
				821,266
				529,592 2,223 130,017 159,434
				821,266

The financial statements were approved by the Trustees on ......................... 21/11/2024

.............................. Trustee

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.............................. Trustee

• 7 -

FOR THE YEAR ENDED 31 JULY 2024

GIRLGUIDING LINCOLNSHIRE SOUTH

NOTES TO THE FINANCIAL STATEMENTS

1 Accounting policies

1.1 Accounting convention

The financial statements have been prepared in accordance 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 (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements 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 Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

• 8 -

GIRLGUIDING LINCOLNSHIRE SOUTH

FOR THE YEAR ENDED 31 JULY 2024

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

1 Accounting policies

(Continued)

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are stated at insurance valuation. No depreciation has been provided for in the accounts.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.9 Cash and cash equivalents

Cash and cash equivalents include 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. Bank overdrafts are shown within borrowings in current liabilities.

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GIRLGUIDING LINCOLNSHIRE SOUTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2024

1 Accounting policies

(Continued)

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions 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.

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GIRLGUIDING LINCOLNSHIRE SOUTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2024

3 Donations and legacies

	Unrestricted	Unrestricted
	funds	funds
	general	general
	2024	2023
	£	£
Donations and gifts	1,965	298
Grants received	-	3,334
Subscriptions	24,823	21,212
	26,788	24,844

4 Income from charitable activities

	Charitable	Charitable
	Income	Income
	2024	2023
	£	£
Badge sales	1,973	2,770
Parva House activity centre	3,409	6,290
Nellie Doubleday Centre	10,222	12,895
Millfield Campsite	-	164
International travel	57,312	-
County camp	29,868	-
	102,784	22,119
Analysis by fund
Unrestricted funds - general	1,973	2,770
Unrestricted funds - designated	100,811	19,349
	102,784	22,119

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GIRLGUIDING LINCOLNSHIRE SOUTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2024

5 Income from other trading activities

	Unrestricted	Unrestricted
	funds	funds
	2024	2023
	£	£
Other income	8,059	5,675

6 Income from investments

	**Unrestricted **	Unrestricted	Total	**Unrestricted **	Unrestricted	Total
	funds	funds		funds	funds
	general	designated		general	designated
	2024	2024	2024	2023	2023	2023
	£	£	£	£	£	£
Interest receivable	6,398	422	6,820	3,170	359	3,529

• 12 -

GIRLGUIDING LINCOLNSHIRE SOUTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2024

7 Expenditure on charitable activities

	Charitable	Charitable
	Expenditure	Expenditure
	2024	2023
	£	£
Salaries	11,061	7,592
Travel expenses	5,255	5,737
Insurance	5,444	4,922
Outdoor activities	-	10
Badge expenses	1,026	2,500
Computer costs	900	2,550
Subscriptions	942	670
Miscellaneous expenses	16,377	7,625
Parva House activity centre	7,775	15,510
Nellie Doubleday Centre	14,179	13,925
Millfield Campsite	400	334
Other	116,564	16,346
	179,923	77,721
Grant funding of activities (see note 8)	1,657	452
Share of support and governance costs (see note 9)
Governance	1,026	960
	182,606	79,133
Analysis by fund
Unrestricted funds - general	60,051	39,296
Unrestricted funds - designated	122,555	39,837
	182,606	79,133

• 13 -

GIRLGUIDING LINCOLNSHIRE SOUTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2024

8 Grants payable

	Charitable	Charitable
	Expenditure	Expenditure
	2024	2023
	£	£
Grants paid	1,657	452
	1,657	452
Support costs allocated to activities
	Total	Total
	2024	2023
	£	£
Accountancy	1,026	960

9 Support costs allocated to activities

10 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

11 Employees

The average monthly number of employees during the year was:

2024	2023
Number	Number
1	1

There were no employees whose annual remuneration was more than £60,000.

12 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

• 14 -

GIRLGUIDING LINCOLNSHIRE SOUTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2024

13 Tangible fixed assets Cost At 1 August 2023 At 31 July 2024 Carrying amount At 31 July 2024 At 31 July 2023 14 Stocks Stocks 15 Debtors Amounts falling due within one year: Prepayments and accrued income 16 Creditors: amounts falling due within one year Accruals and deferred income	Land and buildings £ 471,592 471,592 471,592 471,592	Equipment £ 23,178 23,178 23,178 23,178	Fixtures and fittings £ 36,000 36,000 36,000 36,000 2024 £ 2,781 2024 £ 5,296 2024 £ 978	Total £ 530,770
				530,770
				530,770
				530,770
				2023 £ 2,978
				2023 £ 16,626
				2023 £ 930

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GIRLGUIDING LINCOLNSHIRE SOUTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2024

17 Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted funds Designated funds Restricted funds Capital funds £ £ £ £ Fund balances at 31 July 2024 are represented by: Tangible assets 530,770 - - - Current assets/(liabilities) (401,301) 121,827 2,223 529,592 129,469 121,827 2,223 529,592	Total Unrestricted funds Designated funds Restricted funds Capital funds 2024 £ £ £ £ £ 530,770 530,770 - - - 252,341 (371,336) 130,017 2,223 529,592 783,111 159,434 130,017 2,223 529,592	Total 2023 £ 530,770 290,496
		821,266

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GIRLGUIDING LINCOLNSHIRE SOUTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2024

18 Related party transactions

During the year the charity made the following related party transactions:

Poacher Trading Limited

Girlguiding Lincolnshire South have a 25% shareholding in Poacher Trading Ltd. The value of the shareholding is £73,342.52.

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Document Activity Report

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