Quilters, Guild
'/ 2025 Annual Report
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INTRODUCTION
## Contents
## STRATEGIC REPORT
## GOVERNANCE
## FINANCIAL STATEMENTS
03 ... Foreword from President 04 ... Letter from Chief Executive 05 ... Who We Are
06 ... Our Activities Snapshot
- 07 ... Fulfilling our Purpose
Education & Engagement
Research, Access, & Conservation
11 ... Pillars of Strength
- 14 ... Financial Review
- 16 ... Risk Management
- 17 ... Structure, Governance and Management
Trustees
Staffing
Volunteers
- 20 ... Statement of Trustee Responsibilities
- 21 ... Independent Auditors Report
24 ... Charity Statement of Financial Activities
- 25 ... Consolidated Statement of Financial Activities 26 ... Balance Sheets
- 27 ... Statements of Cash Flows
- 28 ... Notes to the Financial Statements
Membership Quilt Collection
- 59 ... Administrative
Quiltworks
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INTRODUCTION
## A LETTER FROM THE PRESIDENT & CHAIR OF THE BOARD
As we approach the Annual General Meeting of the Quilters’ Guild, I am truly delighted to introduce our 2025 report to you. This moment in our calendar is an important opportunity to reflect on the year behind us, to celebrate what we have achieved together.
Our report for 2024 described a period of transformation - a time in which we carefully examined who we are, how we operate, and how we can best serve our members in a changing world. I am delighted to confirm that 2025 has been a year of consolidation and growth, building steadily and successfully on those already firm foundations.
Under the leadership of our Chief Executive Officer, Connie Rayner, the Guild has embraced a fresh and purposeful approach to organisation and governance. Connie’s clear vision and steady guidance have shaped the development of a forward-thinking Board of Trustees with a strong sense of strategic responsibility. The Trustees are focused not only on the present needs of the Guild but also on safeguarding our long-term future, whilst keeping their eyes on the horizon to ensure sustainable growth and resilience for the years to come.
I would like to take this opportunity to extend my heartfelt thanks to both the Trustee and Executive Boards for their commitment, dedication, and generosity of time. Their work is supported every day by the exceptional staff team at our headquarters in York. Their professionalism, efficiency, and warmth ensure that the Guild runs smoothly. They respond to countless queries, provide invaluable administrative and practical support, and do so with patience and good humour. We are deeply grateful for the contribution they make to our shared success.
Of course, at the heart of the Quilters Guild are our volunteers and members - the lifeblood of our organisation. It is always a joy to see our community come together to share a passion for quilting and stitched textiles - whether in-person at events, through online gatherings, or within regional and special interest groups. The creativity, generosity, and friendship that flourish within the Guild are truly inspiring.
Most of all, I would like to thank you - our remarkable community. You give so generously your time, talents, and enthusiasm. Your commitment ensures that the Quilters’ Guild continues to thrive and evolve while remaining true to its heritage. We are incredibly fortunate to have such a dedicated and supportive community, and together, we can look forward, with confidence, to a bright and creative future.
Thank you.
Alongside this strategic leadership, Connie has overseen the creation of an Executive Board with a clear mandate to deliver the key pillars at the heart of the Guild’s strategy. This structure has brought renewed clarity and focus to our work. By aligning responsibilities and empowering leaders within specific areas, we have fostered an energetic and highly effective team. The impact of this approach is already evident, with tangible progress being made across education, collections, membership engagement, events, and communications. You will read more about these developments later in this report, and I’m proud to say that the enthusiasm and professionalism of this team are helping to shape a vibrant and responsive Guild.
Melanie Williams
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INTRODUCTION
## A LETTER FROM OUR CHIEF EXECUTIVE
To lead our organisation - one that safeguards quilting heritage and champions the future of stitched textiles - is a privilege. Working on behalf of each of you is a responsibility I never take lightly.
Our volunteers remain extraordinary. Across the British Isles, coordinators, treasurers, area representatives, editors, organisers, and countless others turn strategy into action every single day. Their dedication ensures that the Guild is not simply an organisation, but a living, learning, and joyful community.
This year has been one of renewed momentum for the Quilters’ Guild. After a period that required disciplined change and careful decision-making, I’m pleased that we are beginning to see the results take shape. We have strengthened our reserves, expanded the visibility of the Quilt Collection, and continued to grow our vibrant and generous community of makers across the country.
We have also continued our commitment to equality, diversity and inclusion. This work is ongoing and evolving. We are listening, learning, and embedding inclusive practice more deeply throughout our culture and activities. After all, a Guild that celebrates creativity must also celebrate our differences.
Quiltworks, too, has begun carving out a clearer identity, working with textile artists to reinterpret designs from the Collection into contemporary “inspired-by” patterns. Seeing our heritage quilts spark modern creativity reminds us that quilting is not static. It does not grow old - it adapts, evolves, and thrives in new hands.
**To every member who renews, participates, volunteers, donates, or simply advocates for quilting within their own community; thank you. You are the Guild.**
For the year ended 31 October 2025, the Guild recorded a surplus of £67,585. I share this not with complacency, but with gratitude and quiet confidence. It reflects careful stewardship, improved income, and the enduring commitment of our members. Our piecing is aligned - but these next stitches matter. We remain prudent, yet we are moving steadily and responsibly in the right direction.
Our transformation in recent years has required courage and resilience from many of us, and this year demonstrates that those difficult decisions were necessary. We are more focused, more strategically aligned, and financially stronger than we were this time last year. Yet we cannot be complacent. Financial pressures remain, and our growth must be sustainable. Ambition must be balanced with realism, which is why careful management will continue to guide every decision I make.
One of the most visible signs of progress has been within the Quilt Collection. We more than doubled the number of objects brought into public view, increased visitor engagement, and extended our reach to an estimated 90,000 people in person this year. Placing the Collection firmly at the heart of our strategy has reaffirmed its power and relevance.
What gives me the greatest confidence, however, is not the finances - it is the spirit within the Guild: the generosity of our members, the diligence of Trustees, the passion of volunteers, and, above all, the creativity of our quilters.
Membership income has grown, Gift Aid recovery has strengthened, and trading performance has remained robust. These improvements reflect the hard work of our staff and volunteers, and the faith that members continue to place in the Guild’s direction.
Thank you for your continued belief in what we are building together. I look forward to listening, learning, and leading with you as we take our next steps.
I would like to express my sincere gratitude to our Trustees, past and present. Those who retired from the Board during this period did so having provided steady guidance through challenging times. The current Board continues to offer strategic insight and personal support, and I am particularly thankful for the trust they have placed in me during this period of transformation.
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INTRODUCTION
## WHO WE ARE & WHAT WE DO
At the Quilters’ Guild we believe in connecting people, art, and heritage; enriching the very fabric of our culture with quilts and stitched-textiles.
Over the years Quilters’ Guild has played a major part in shaping the industry as it is today. Following the very first Festival of Quilts, held in Lords Cricket ground in 1999 attracting a relatively small number visitors, the event quickly accelerated and now, managed by Immediate Live, the event brings together circa. 24,000 visitors annually.
## OUR VISION
Our vision is to showcase British quilting on a global stage, inspiring and uniting a thriving community that connects diverse people and cultures, carrying forward the art and spirit of quilting for generations to come.
Our members, volunteers and the people we work with continue to make outstanding contributions that help shape the work we do. We operate across the British Isles as teams of volunteers that find ways to make stitching and quilting accessible for all. Through education, outreach, and creative collaboration, we play a core role in sustaining a vibrant quilting tradition.
## OUR MISSION
The Quilters’ Guild is on a mission to bring together people from all cultures with a shared interest in quilting and associated stitched textiles. We provide an open and safe community in which to grow and learn in the spirit of friendship, and to celebrate all quilts for the individuality, creativity, and love with which they are made.
Our work provides members and the public with opportunities to learn new techniques, explore innovative tools and materials, and gain insight from experienced instructors and guest speakers. Demonstrations, hands-on classes, and skill-building sessions ensure that members continue to grow creatively and technically. Our programs highlight both traditional quilting methods and contemporary approaches, encouraging members to honour the past while embracing new ideas.
## WHAT WE DO
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Support national and
Award grants to fund
international networking
individual development & collaboration.
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Protect the heritage and provenance of items in our collection
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Promote the craft
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STRATEGIC REPORT
## 2024 - 25 ACTIVITIES SNAPSHOT
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92 350
16
items & objects people enjoyed
pieces
made available
accessioned into +35
to over
our accredited
days of on-site
4807
Quilt
65,800 Quilt Collection
Collection +1000 individual
£31,573 visitors activities members
photos and
raised in
stories made 460
donations
available online affiliated
groups
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## OUR ONLINE PRESENCE
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Website Instagram Facebook YouTube
visits: 401,000 views: 76,600 views: 694,100 views: 30,500
users: 71,000 visits: 6,000 visits: 20,900 visits: 246,900
reach: 77,100 interactions: 12,100 watch time: 3,200
subscribers: 3,059
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STRATEGIC REPORT
## FULFILLING OUR PURPOSE
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## Activities include:
- Lectures & Talks by Heather Audin, Curator
- Young Quilter Workshops
- Quilt Collection Exhibition
- Exhibition of Master Quilter Journal Quilts
## Value created for members:
- Members have the opportunity to exhibit their quilts, gaining exposure and recognition.
- Early release tickets to workshops and lectures provide opportunities to try out new techniques, learn new skills.
- The event serves as a gathering point for quilting enthusiasts, allowing members to connect, share ideas, and foster relationships within the quilting community.
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## Activities include:
- Virtual and in-person
- Workshops
- Talks
- Showcase Opportunities
- Trading Days
- Young Quilter Activities
- Anniversary Card Fund-raiser
## Value created for members:
- Members have a variety of opportunities to share their work online, inperson and through travelling handling exhibits
- Collaboration is key to the continued advancement of techniques, understanding, and practice.
- Learning and discovery of knowledge and skills sharing.
- Networking events delivered both online and in-person.
## Value created for wider society:
## Value created for wider society:
- Showcasing quilts from as early as 1780 plays a crucial role in promoting the historical aspects of British textile arts to the public.
- The dedicated Young Quilter area within the Guild stand and educational lectures serve to inspire and educate the next generation, promoting creativity and the continuation of quilting traditions.
- The Guild’s engagement activities play a vital role in expanding quilting’s reach and making it more accessible to the public.
• By offering opportunities for people to learn, explore, and engage with quilting, we help raise awareness of this traditional craft, increase quilting literacy, and inspire future generations of quilters.
- The event draws a diverse audience, promoting inclusivity and engagement with the arts, which enriches the cultural fabric of the community.
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STRATEGIC REPORT
## FULFILLING OUR PURPOSE
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## Activities include:
- Level 3 Diploma in Master Quilting
- Quilt Judging Course
- Workshops
• Lectures
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## Bursaries cover:
- Graduate Showcase
- Travel
- Education Classes
- International Events
- Quilt Judging Bursary
- Traditional Quilting Heritage
## Value created for members:
• Members of the Quilters’ Guild have had exclusive access to a UK regulated qualification diploma in Master Quilting, a course designed by the Quilters’ Guild accredited through Open Awards. Quilts created as part of the course are showcased at Europe’s largest quilt show, Festival of Quilts at the NEC in Birmingham.
• Our self-directed Quilt Judging Course has been successfully running since 2003. Having had great success in the UK, the course is now capturing the attention of key players in the international sphere with our first USA-based learners, as well as attracting its first male learners in 2024.
## Value created for wider society:
• Regions nationally hold open days and weekend-long events in which nonmembers are invited to take part in the activities hosted across the British Isles. The public can attend an array of workshops and talks, covering topics from getting started through to refining skills and inspiration.
• As we broaden our offerings we diversify our appeal, engaging with groups often under-represented in the industry and expanding the general public’s interest in our heritage and craft.
## Value created for members:
- Members have access to bursary funds that further their interests in quilting.
- Members gain exposure to the global quilting communities
- Funding educational classes, conferences, and travel, the Guild ensures that members can continue to learn, grow, and stay at the forefront of quilting innovation.
## Value created for wider society:
- Bursaries promote the preservation and growth of quilting and stitched textiles, ensuring that these traditions continue to thrive.
- Requirements of a number of bursaries include winners sharing their knowledge and experience with the wider public.
• Supporting emerging talent, encouraging knowledge sharing, and fostering international collaboration, we contribute to the cultural enrichment of society
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STRATEGIC REPORT
## FULFILLING OUR PURPOSE
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## Activities include:
- Acquisition of books, journals, and other materials.
- Digitisation on Axiell
- Sales & Donations
- Preservation of rare and fragile books as part of our reference collection
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## Activities include:
- Individual researchers undertaking work for higher education courses (college, universities, professional training)
- Research from academics, authors and lecturers
- Education group visits
- Exhibitions in conjunction with national access initiatives such as Heritage
## Value created for members:
- The library offers a wealth of resources that support members in enhancing their quilting skills and knowledge, contributing to their professional growth.
• Access to both current and historical reference materials enables members to stay informed about trends, techniques, and the evolving landscape of textile arts.
## Value created for wider society:
- The library’s resources are available to the public, making specialized knowledge accessible to everyone, not just guild members. This openness supports lifelong learning and education in the arts.
- By maintaining a reference collection of rare and historical texts, the library acts as a steward of quilting heritage, ensuring that valuable knowledge is preserved and accessible for future generations.
- The library provides a hub for community members to discover and engage with quilting and textile arts, enriching the cultural fabric of the community and inspiring new quilters.
## Open Days
- Access to objects and expertise for external filming and workshops Value created for members:
- Provides members with access to expert research and opportunities to engage with historical quilts.
- Promotes knowledge sharing and skill development through collaborative efforts with artists, designers, and researchers.
- Enhances members’ connection to the Guild’s Quilt Collection by offering new insights, inspiration, and opportunities for collaboration.
## Value created for wider society:
- Increases public awareness and appreciation for quilting as an art form and cultural heritage.
- Engages the broader community in quilting history, techniques, and cultural significance through public exhibitions, talks, and collaborations.
- Facilitates cross-disciplinary research and collaboration, promoting quilting’s role in broader artistic, academic, and cultural conversations.
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STRATEGIC REPORT
## FULFILLING OUR PURPOSE
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## Activities include:
- Travelling Trunks:
- Textile Traditions Textiles Treasures Contemporary Textiles
- Traditional Group Suitcase Collection
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## Activities include:
- The addition of 16 new items to the Collection
- Documentation and cataloguing of new items
- Volunteer documentation project of a key archive within the Collection
- Upgraded storage boxes and re-packing of some items
- Continuing internal research into new (and existing) items
- Handbag Collection
- Contemporary Group Suitcase Collection
## Value created for members:
• Encourages networking and collaboration among quilt groups by offering them a unique “show and tell” or exhibition experience using the travelling trunks.
• Supports educational and skill-building opportunities by providing members with the chance to study and appreciate a diverse range of textiles and techniques, from traditional to modern.
## Value created for wider society:
• Continues to add to the resources and knowledge available to the public to learn from, understand and be inspired by our patchwork and quilting heritage
- Provides opportunities for voluntary work within the heritage sector
- Preserves this unique part of our social, domestic and wider history for future generations to discover and enjoy.
## Value created for wider society:
• Facilitates educational outreach by offering the trunks to various community groups, schools, and organisations, allowing them to experience quilting history first-hand.
• Inspires creativity and cultural exchange, as the trunks showcase the diversity of styles, techniques, and inspirations that influence contemporary textile arts.
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STRATEGIC REPORT
## PILLARS OF STRENGTH: Membership, the people & beyond
Membership remains the lifeblood of The Quilters’ Guild, and this year we were encouraged by clear signs that our long-term focus on engagement and retention has begun to take effect. After a period of challenge, the trend in membership numbers is stabilising, with attrition slowing significantly and overall membership showing modest growth.
Education remains central to who we are and why we exist. All of our courses are designed to support quilters, tutors, and judges, offering formal recognition of skills and
enhancing confidence and credibility within the wider quilting community.
Alongside our forthcoming course, we will continue to expand our programme of workshops, webinars, and masterclasses. These opportunities will support quilters of all levels, covering technical skills, creative development, group leadership, and exhibiting work. Together, they form a clear and accessible pathway for ongoing learning and professional growth.
In particular, adult UK membership losses have reduced year on year, moving from a steep decline in 2023 to much smaller decreases in 2024 through to 2025. This improvement signals a clear shift, members are choosing to stay, engage, and reconnect with the Guild. While there is still work to do, the direction of travel is positive, and it gives us confidence that the steps we are taking are having a very real impact.
Young and beginner quilters remain a key priority as we look to nurture the future of quilting. We are pleased to have reintroduced the role of National Young Quilters Officer, with Geraldine Edgington appointed to lead engagement and development activities for under-18s. These initiatives are designed to inspire creativity, build confidence and lasting connections within the wider quilting community.
**Members are choosing to stay, engage, & reconnect with the Guild.**
This strengthening of our membership base underpins everything we do. It reinforces our belief that investing in member experience, education, and connection is the right strategy for the future of the Guild.
At the heart of our Pillars of Strength, strategy is our genuine commitment to building a more vibrant, inclusive, and engaged quilting community. The Guild thrives because of its members, and we will continue to create meaningful opportunities for connection, collaboration, and participation across the UK.
As ever, we are committed to ensuring that resources and guidance remain just as accessible and relevant to the needs of those at the start of their quilting journeys, as those that have been quilting with us for years. By providing strong entry-level opportunities and clear pathways for progression, we aim to encourage new members to remain connected to the Guild as their skills and confidence grow.
Volunteering continues to play a key role in the success of the Guild, particularly within membership activities. We are always looking for members who wish to contribute their skills, experience, and enthusiasm as these roles help shape and strengthen the Guild’s future and connection to our community.
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STRATEGIC REPORT
## PILLARS OF STRENGTH: Quilt Collection
The Quilt Collection is a national cultural asset, offering a window into the history, artistry, and heritage of British stitched textiles. Last year, we reaffirmed our commitment to making the Quilt Collection more accessible and more dynamic, with the view of building on it’s legacy through elevated experiences.
This year marked a step change in the scale and reach of the Quilt Collection. We more than doubled the number of objects on display, showcasing 92 quilts compared with 45 last year, our expanded visibility was supported by a increase in on-site engagement, with approximately a 21% rise in the number of visitors attending exhibitions, group visits and research days.
As a result of the significant increase in activities and events, we estimate that the Collection was reached by around 90,000 people in person over the year. Together, these figures reflect our dedication towards making more of the Collection visible, active, and central to the Guild’s public programme.
At the core of this progress is a strengthened commitment to accessibility and relevance for both Guild members and the wider public. Over the past year, we have focused on bringing more of the Collection into active use—moving quilts out of storage and into displays, events, and learning contexts. By increasing
the number and range of objects showcased, we have enabled visitors to engage with a broader spectrum of stories, techniques, and traditions, reinforcing the Collection’s role as a living resource rather than a static archive.
While in-person visits remain a vital part of how people experience the Collection, we have taken practical steps towards widening digital access. This year, we began developing the infrastructure and content needed to support online interpretation, laying the groundwork for future digital exhibitions and an expanding library of digitised quilts. These initiatives will allow quilters, researchers, and enthusiasts to explore the Collection remotely, extending its reach nationally and internationally and offering new ways to engage with the craftsmanship, histories, and meanings embedded in the quilts.
The Collection has continued to grow in ways that reflect the evolving nature of quilting. Our focus has been on strengthening representation across styles, regions, and periods, while also increasing the visibility of contemporary practice. We are actively exploring collaborations with living quilters and textile artists, ensuring that the Collection captures not only the history of British quilting but its ongoing development. These relationships help connect traditional skills with modern innovation, enriching the Collection and reinforcing its relevance to today’s quilting community.
Through guided visits, workshops, talks, and collaborative projects, the Collection is increasingly experienced as an interactive and participatory resource - one that encourages creativity, learning, and dialogue across generations and communities.
As access and activity have expanded, our commitment to conservation and care has remained unwavering. One of our newest staff members, Rupal Jain, a Conservator with extensive experience in digital textile analysis and historic textile conservation, joins the team to uphold the highest standards of collection management, and ensure our quilts are preserved responsibly for the future.
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STRATEGIC REPORT
## PILLARS OF STRENGTH: Quiltworks
Alongside this creative focus, Quiltworks continues to provide a carefully curated range of quilting-related products that reflect the Guild’s ethos of quality and authenticity.
Over the past year, Quiltworks has continued to strengthen its role as a sustainable commercial arm of the Guild, supporting our charitable work whilst refining its creative direction. Rather than focusing solely on expansion, this year has been about consolidation and purposeful diversification to ensure that what we offer is distinctive, relevant, and rooted firmly in the Quilt Collection itself.
Our approach has moved decisively beyond the traditional museum gift-shop model. Instead, Quiltworks operates as a creative
A key development has been a renewed emphasis on original pattern creation. Quiltworks is increasingly drawing directly from the Guild’s Collection, working with textile artists and designers to reinterpret historic quilts and translate them into contemporary, accessible designs.
platform that supports makers at different skill levels and offers meaningful connections to quilting heritage through practical, usable designs.
These “inspired-by” patterns re-imagine traditional motifs, structures, and techniques for modern makers, allowing today’s quilters to engage creatively with heritage while producing work that feels fresh and personal.
While overall operations have remained stable, the strategic shift towards pattern development and artist collaboration positions Quiltworks for sustainable growth. By foregrounding exclusive, Collection-inspired content, we are strengthening brand identity, deepening engagement with Guild members, and creating products that cannot be found elsewhere.
Looking ahead, this refined focus will guide further development. By continuing to invest in creative partnerships and expanding the range of modern, heritageinspired patterns, Quiltworks will enhance its contribution to the Guild’s financial resilience while celebrating the enduring influence of the Quilt Collection.
By collaborating with practising textile artists, we are building a stronger bridge between the Collection and the contemporary quilting community.
These partnerships not only generate new and exclusive products but also create a dynamic dialogue between past and present.
The result is a growing body of patterns and designs that honour the integrity of historic quilts that demonstrate the quilts and the Collection’s ongoing relevance.
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GOVERNANCE
## FINANCIAL REVIEW: Building a sustainable future
Following a number of financially challenging years, 2024-25 marks a welcome and significant return to surplus for The Quilters’ Guild. Careful stewardship, steady income growth, and the continued commitment of our members and supporters have strengthened the Guild’s position and restored confidence in our financial trajectory.
## FINANCIAL POSITION
For the year ended 31 October 2025, The Guild (including Festival of Quilts Ltd) recorded a surplus of £67,585, a substantial improvement that reflects both disciplined cost management and improved income performance.
This positive outcome is an important step forward for our charity and while we are not yet where we ultimately need to be, particularly in terms of reserves security, the progress achieved this year provides a firmer foundation from which we will continue to build.
## INCOME SOURCES
Membership remains the Guild’s most stable and dependable source of income. In 2024-25, membership income rose to £314,466, an increase of £7,610 on the previous year (£306,856). This growth demonstrates both retention and renewed confidence in the Guild’s direction.
Gift Aid recovery of £43,443 remains a significant amount, this is one of our core income streams used to strengthen our unrestricted income and make a meaningful contribution towards operating costs.
Together, membership and Gift Aid continue to underpin the Guild’s charitable work and provide resilience against fluctuations in other income streams
Voluntary income, including donations and legacies, amounted to £81,980. Within this:
General donations amounted to £5,130 Legacies contributed £25,670 Easy Fundraising generated £773 Other trading activities, yielded £352,130
The Trustees acknowledge with gratitude the continued generosity of our members, partners and supporters.
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GOVERNANCE
## FINANCIAL REVIEW: Building a sustainable future
## CHARITABLE ACTIVITIES & IMPACT
A significant proportion of the Guild’s expenditure continues to be directed towards charitable activities in furthering our objectives. These include education and outreach programmes, member services, stewardship of the Quilt Collection, and development of Guild-accredited qualifications.
Investment in digital resources and educational provision has remained a strategic priority, ensuring accessibility for members who are unable to attend in-person activities. The Trustees remain committed to applying resources in a manner that maximises public benefit while maintaining financial discipline.
## FUNDRAISING & MEMBERSHIP ENGAGEMENT
The Guild’s approach to fundraising remains ethical, transparent, and member-focused. Fundraising activities during the year, including initiatives linked to Festival of Quilts and member-led schemes, contributed to voluntary income and strengthened engagement across the community.
The Trustees recognise the importance of income diversification and will continue to explore sustainable fundraising opportunities aligned with the Guild’s charitable aims.
## RESERVES AND INVESTMENT STRATEGY
Free reserves at the year end totalled £399,424. The Guild’s reserves policy requires sufficient reserves to cover approximately 12 months of operational costs, currently calculated at £482,833.
While the current position represents a substantial improvement, it remains below the policy target. Rebuilding reserves to the required level therefore remains a key priority for the Trustees.
Reserve funds are held in a CCLA account in accordance with the Guild’s investment policy. The Trustees prioritise capital preservation while seeking reasonable returns to support charitable activities. Investment income during the year totalled £15,387.
## LOOKING AHEAD
The return to surplus in 2024-25 represents a significant and encouraging step forward. Increased membership income, improved Gift Aid recovery, and strong trading performance have contributed to rebuilding financial resilience.
However, the Trustees remain mindful of ongoing economic pressures and the importance of restoring reserves to policy levels. The Guild must therefore continue to manage resources carefully, strengthen income streams, and maintain prudent financial oversight.
The Trustees review the reserves policy annually to ensure it remains appropriate to the scale and complexity of the Guild’s operations. The policy requires reserves sufficient to cover approximately 12 months of operating expenditure in order to safeguard against income volatility and unforeseen costs.
With continued member support and responsible stewardship, the Trustees are confident that the Guild is moving in a positive direction while remaining vigilant in protecting its long-term sustainability.
General reserves increased during the year from £105,245 at 1 November 2024 to £155,296 at 31 October 2025, strengthening the Guild’s overall financial position.
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GOVERNANCE
## RISK MANAGEMENT: Principal Risks
## OVERVIEW OF THE GUILD’S RISK REGISTER
The Guild’s risk register is designed to highlight and manage the key risks that could impact our ability to achieve our organisational strategy. The key aspects of our risk management process include:
- Identification of key risks that may either hinder or support our strategy.
- Understanding and analysing the causes of the principle risks.
- For each risk, we outline our approach and tolerance level, classifying it as either “seeking”, “avoiding”, or “maintaining a cautious approach.”
- Risk evaluation based on the potential impact and likelihood, assigning appropriate weight to each risk.
- Risks are categorised into one of four areas: “strategic”, “operational”, “financial”, or “compliance.”
- Risk scores are calculated both before and after implementing mitigation strategies to ensure their effectiveness in reducing risk levels.
## RISK MANAGEMENT PROCESS
Risk management is overseen by the Trustees and Chief Executive through the Guild’s central Risk Register. The risk register is reviewed regularly by this team and presented to the Board’s Finance, Audit, and Risk Committee for a more detailed review. The regular review process focuses on:
- key risks that the charity faces and their underlying causes.
- assessing impact and probability associated with each risk
- mitigation strategies and existing controls in place to reduce the risks.
With the implementation of our new strategy, we have updated the risk register to address emerging risks and challenges. We have also highlighted specific risks associated with the new strategy. The risk register is under constant review to ensure that we respond effectively to the changing external environment and mitigate any evolving risks.
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PRINCIPAL RISKS RISK MANAGEMENT
top 5 from the risk register internal controls and actions
Financial Stability • The organisational strategy is fully costed and fully funded
• Short, medium and long-term planning is structured on
prudent income growth levels
• Revised income generation and strategy is in line with
changing economic conditions
• Review of operational model to ensure it is viable within the
financial framework
• Constant review of diversification opportunities
• Increase profitability of Festival Of Quilts Ltd, the trading
subsidiary, to support our charitable aims
• Ensure adequate reserves policy
The Guild fails to deliver an • Continuously look to enhance member benefits, events and
attractive membership proposition activities.
• Conduct regular membership surveys and focus groups to
create on-going feedback loop.
• Strengthen communications and connection between
members and the core mission of the organisation.
Lack of adept volunteers • Introduce Volunteer Services coordinator to strengthen and
retain solid network of personnel
• Assess volunteer posts and framework to identify areas in need
of thoughtful upgrades
• Provide training and support to regional committees for better
member engagement.
Maintaining robust operational • Embedding a digital culture in the organisation which
framework integrates digital delivery throughout the strategy
• Maintaining investment in IT systems and processes
• Documented systems of internal control and accountability are
maintained
• Ensuring the suitability of policies and procedures, and UK
GDPR compliance throughout our work
• Implementing change to ensure the board, management,
staff, and volunteers of the Guild reflect the diversity of the
communities we serve
**----- End of picture text -----**
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GOVERNANCE
## STRUCTURE: Governance & Management
The Quilters’ Guild of the British Isles is a charitable company limited by guarantee, incorporated on 10th October 1997, (company number 03447631). The Quilters’ Guild of the British Isles was registered as a charity in England and Wales on 12 January 1998, (registration number 1067361), and with the Office of the Scottish Charity Regulator (OSCR) on 22 May 2012 (registration number SC043174).
The Company was established under a Memorandum of Association which specified its objects and powers but following the introduction of the Companies Act 2006 and the resolution passed on the 6 April 2013 amending them, is now governed by its Articles. In the event of the Company being wound up members are required to contribute an amount not exceeding £1.
The Trustees of the Quilters’ Guild are the charity’s Trustees under charity law and the Directors of the charitable company. While the organisation is registered under the name The Quilters’ Guild of the British Isles, its working name is Quilters’ Guild, (“QGBI”, the “Guild”, the “Organisation” and the “Charity” which have used throughout this report).
The Charity has one wholly owned subsidiary; Festival of Quilts Ltd (“FOQ Ltd”) known as QGBI Enterprises, QShop, and now trading as Quiltworks. This company’s principal activity is that of raising funds for the Quilters’ Guild.
## TRUSTEES
Our Board of Trustees (Directors) is responsible for defining the overall strategy, creating momentum, movement and improvement, taking the Guild purposefully into the future.
The charity’s Articles of Association provide for 12 Trustees. Consisting of the President and up to a further eleven additional members, four of whom may be non-Guild members selected for their specific skills and expertise. Trustees are, elected or appointed to the Board for three years at our Annual General Meeting (AGM), subject to re-election (or re-appointment) and are able to serve for a maximum seven-year term.
The Council meets immediately after the AGM, following-up with a further five meetings scheduled over the course of the year. All trustees undergo a formal induction to the charity, the content of which is reviewed annually and includes a mixture of formal training with supporting documentation, meetings with senior management and visits to observe the charity’s services in action.
## TO THE YEAR ENDED 31 OCTOBER 2025 THE FOLLOWING TRUSTEES SERVED ON THE BOARD:
Melanie Williams - Chair (elected: 2020) Jane Blackburn (elected: 2020) Merrill Tanton (elected: 2022) Susan Mary Batchelor (elected: 2025) Yvonne Gail Romain (elected: 2025) Sheila Evans (resigned: 10/05/2025) Kate Christie (resigned: 06/09/2025) Angela Daymond (resigned: 02/12/2024) Jenny Hall (resigned: 10/05/2025) Judi Kirk (resigned: 10/05/2025) Helen Pringle (resigned: 10/05/2025)
TO THE YEAR ENDED 31 OCTOBER 2025 THE FOLLOWING DIRECTORS SERVED FOQ LTD:
Elizabeth Ingle - Chair Conni Rayner Jane Blackburn
Angela Daymond (resigned: 28/04/2025)
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GOVERNANCE
## STRUCTURE: Governance & Management
## SUBCOMMITTEES
In addition to the regular schedule of board meetings, Trustees are supported through the work of subcommittees.
In The Audit Committee, which is responsible for appointing the external auditors, reviewing the Guild’s accounts and financial controls, and reviewing the statements and actions on risk and internal controls.
Membership of this committee is drawn from trustees, senior management, and lay members
Lay members are often members of the Guild who possess a particular expertise relevant to the work of the committee. During the year ended 31st October 2025 there were no lay members on the committee.
## STAFFING
The staff team work closely with the Board of Trustees to help turn the Guild’s vision and mission into reality. The Chief Executive is responsible for the day to day management of the organisation. The senior staff team’s pay is approved by the Board of Trustees and reviewed on an annual basis.
To engage with the staff in an effective manner, Trustees continue to make themselves available through a range of communication channels. We encourage and empower our staff to share their news, learnings and celebrate their achievements.
The team that served during the year 2024-25 are:
Alice Futers Member & Volunteer Services Coordinator Carol Bowden Member & Volunteer Services Coordinator Heather Audin Curator Katy Jones Communications Coordinator Sarah Yelland Smith Bookkeeper Victoria Wood Marketing and Merchandise Coordinator Christine Morton Business Manager - resigned October 2024
Biographical information on the current team can be found at: https://www.quiltersguild.org.uk/pages/discover/about/guild-people/ Executive-Team
## EXECUTIVE TEAM
The Executive team help ensure the voices of our members and stakeholders are heard and that our operations are aligned with our mission to inspire, preserve, and grow our quilting community.
Our Chief Executive, Connie, remains responsible for the day to day operations of the charity and for the following five core steering committees; Membership, Activities, Volunteering, Education and the Quilt Collection.
Executive Chair of Education Jenny Hall Executive Chair of Event and Activities Judi Kirk Executive Chair of Volunteer Services Adelle Lindsay Executive Chair of Membership Services Carol Bowden Executive Chair of Quilt Collection Heather Audin
## Conni Rayner
Chief Executive
## Anne Gosling
Chief Finance Officer - volunteered services
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GOVERNANCE
## STRUCTURE: Governance & Management
## VOLUNTEERS, AND SUPPORTERS
During the year 2024-25, we were incredibly lucky to have had support from over 600 volunteers.
Our incredible volunteers are the backbone of many of our services, which otherwise would not exist, and certainly not be delivered on the local scale that members and non-members currently enjoy.
Volunteers have increasingly returned to face-to-face events nationwide, delivering retreats, fundraising, open days, and education.
We will continue to review our volunteering opportunities, diversifying across the organisation were we can, with a view to engaging a broader range of volunteers as possible.
## NATIONAL OFFICERS
The Quilters’ Guild has long been a source of education and friendship for Quilters across the British Isles.
From the very beginning, we have been an organisation powered by volunteers and loved by thousands. Over the years, we’ve developed a strong volunteer culture that has become the lifeblood of the Guild.
The National Officers at for the year ended 2024-25 are:
## Bursary & Awards Officer
Helen Clark
Conference Officer
Cat Ashton Ryan Education Officer Marilyn McInnes Festival of Quilts Officer
Gill Clark
International Officer
Carol Fieldhouse
Library Officer Lis Tate
Quilt Judging Committee Chair Stephanie Pettengell
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GOVERNANCE
## STATEMENT of Trustee Responsibilities
## TRUSTEE RESPONSIBILITIES
The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable laws and regulations. Company law requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards) and applicable law.
Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Group and the Charity and of the surplus or deficit of the group for that period.
So far as each of the Trustees at the time of the Report are aware there is no relevant information of which the auditors are unaware and they have taken all the steps they ought to have taken to make themselves aware of any relevant audit information and to establish the auditors are aware of that information.
Clive Owen LLP has indicated its willingness to be reappointed as statutory auditor.
This Annual Report of the Trustees, under the Charities Act 2011 and the Companies Act 2006, was approved by the Board of Trustees on ..........................., including approving in their capacity as company directors the Strategic Report contained therein, and is signed as authorised on its behalf by:
In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently; observe the methods and principles of the Charities SORP (FRS 102);
- make judgements and accounting estimates that are reasonable and prudent;
Melanie Williams Chair of the Board of Trustees
• state whether applicable UK Accounting Standards (FRS 102) 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 group will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Group and the Charity’s transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006.
They are also responsible for safeguarding the assets of the Group and the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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GOVERNANCE
## INDEPENDENT AUDITORS REPORT to the Board of Trustees
## OPINION
We have audited the financial statements of The Quilters’ Guild of the British Isles (the ‘parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 31 October 2025 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Charitable Company Balance Sheet, the Consolidated Statement of Cash Flows and the related notes, 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 of the parent charitable company’s affairs as at 31 October 2025 and of the Group’s incoming resources and application of resources, including its income and expenditure 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 Companies Act 2006, the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005 and regulations 6 and 8 of the Charities Accounts (Scotland) Regulations 2006.
## BASIS FOR OPINION
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 Auditors’ responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe
that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## CONCLUSIONS RELATING TO GOING 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 Group’s or the parent charitable company’s ability to continue as a 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 INFORMATION
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors’ Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of 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 this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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GOVERNANCE
## INDEPENDENT AUDITORS REPORT to the Board of Trustees
## OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006
In our opinion, based on the work undertaken in the course of the audit:
• the information given in the Trustees’ Report for the financial year for which the financial statements are prepared is consistent with the financial statements.
- the Trustees’ Report has been prepared in accordance with applicable legal requirements.
## MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 and the Charities Accounts (Scotland) Regulations 2006 (as amended) requires us to report to you if, in our opinion:
- the information given in the Trustees’ Report is inconsistent in any material respect with the financial statements; or
• the parent charitable company has not kept sufficient accounting records; or
- the parent charitable company financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
## RESPONSIBILITIES OF TRUSTEES
As explained more fully in the Trustees’ Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the Group’s and the parent charitable company’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 charitable company or to cease operations, or have no realistic alternative but to do so.
## AUDITORS’ RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS
We have been appointed as auditor under section 152 of the Charities Act 2011 and section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors’ 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. Our audit must be alert to the risk of manipulation of the financial statements and seek to understand the incentives and opportunities for management to achieve this.
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GOVERNANCE
## INDEPENDENT AUDITORS REPORT to the Board of Trustees
We undertake the following procedures to identify and respond to these risks of non compliance:
• Understanding the key legal and regulatory frameworks that are applicable to the Group. We communicated identified laws and regulations throughout the audit team and remained alert to any indicators of non compliance throughout the audit. We determined the most significant of these to be Charity law, company law, taxation law, UK GAAP, health and safety, and GDPR.
- Enquiry of Trustees and management as to policies and procedures to ensure compliance and any known instances of non compliance.
- Review of board minutes and correspondence with regulators.
- Enquiry of Trustees and management as to areas of the financial statements susceptible to fraud and how these risks are managed.
statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors’ Report.
## USE OF OUR REPORT
This report is made solely to the charitable company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008 and regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company’s trustees those matters we are required to state to them in an Auditors’ Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
• Challenging management on key estimates, assumptions and judgements made in the preparation of the financial statements. These key areas of uncertainty are disclosed in the accounting policies.
- Identifying and testing unusual journal entries, with a particular focus on manual journal entries.
Through these procedures, we did not become aware of actual or suspected non compliance. We planned and performed our audit in accordance with auditing standards but owing to the inherent limitations of procedures required in these areas, there is an unavoidable risk that we may not have detected a material misstatement in the accounts. The further removed non compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve concealment, collusion, forgery, misrepresentations, or override of internal controls. We are not responsible for preventing non compliance and cannot be expected to detect non compliance with all laws and regulations.
Christopher Beaumont BA(Hons) BFP FCA DChA (Senior Statutory Auditor) for and on behalf of:
Clive Owen LLP
Chartered Accountants and Statutory Auditors 140 Coniscliffe Road Darlington Co Durham DL3 7RT
Date:
Clive Owen LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
A further description of our responsibilities for the audit of the financial
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FINANCIALS
## CHARITY STATEMENT OF FINANCIAL ACTIVITIES
## for the year ended 31 October 2025
|**Note**
**Income from:**
Donations and legacies
4
Charitable activities
5
Other trading activities
6
Investments
7
**Total income**
**Expenditure on:**
Raising funds
9
Charitable activities
10
**Total expenditure**
**Net expenditure before net loss on**
**investments**
Net profit/(loss) on investments
Taxation
8
Transfer between funds
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**Funds**
**2025**
**£**
**Restricted**
**Funds**
**2025**
**£**
**Total**
**Funds**
**2025**
**£**
**Total**
**Funds**
**2024**
**£**
**105,118**
**3,298**
**108,416**
_41,806_
**191,510**
**9,630**
**201,140**
_258,290_
**320,731**
**8,939**
**329,670**
_322,630_
**11,932**
**1,144**
**13,076**
_14,221_|
|---|---|
||**629,291**
**23,011**
**652,302**
_636,947_|
||**-**
**-**
**-**
_-_
**563,384**
**26,229**
**589,613**
_676,018_|
||**563,384**
**26,229**
**589,613**
_676,018_|
||**65,907**
**(3,218)**
**62,689**
_(39,071)_
**-**
**1,326**
**1,326**
_676_|
||**65,907**
**(1,892)**
**64,015**
_(38,395)_
**3,202**
**-**
**3,202**
_2,916_|
||**69,109**
**(1,892)**
**67,217**
_(35,479)_
**4,788**
**(4,788)**
**-**
_-_|
||**73,897**
**(6,680)**
**67,217**
_(35,479)_|
||**341,082**
**107,154**
**448,236**
_483,715_
**73,897**
**(6,680)**
**67,217**
_(35,479)_|
||**414,979**
**100,474**
**515,453**
_448,236_|
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FINANCIALS
## CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 October 2025
|**Income from:**
Donations and legacies
Charitable activities
Other trading activities
Investments
**Total income**
**Expenditure on:**
Raising funds
Charitable activities
**Total expenditure**
**Net expenditure before net loss on**
**investments**
Net profit/(loss) on investments
Taxation
Transfer bewteen funds
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Note**|**Unrestricted**
**Funds**
**2025**
**£**
**Restricted**
**Funds**
**2025**
**£**
**Total**
**Funds**
**2025**
**£**
**Total**
**Funds**
**2024**
**£**|
|---|---|---|
||4
5
6
7
9
10
8|**78,682**
**3,298**
**81,980**
_40,677_
**219,459**
**9,630**
**229,089**
_277,403_
**343,191**
**8,939**
**352,130**
_352,666_
**14,243**
**1,144**
**15,387**
_15,350_|
|||**655,575**
**23,011**
**678,586**
_686,096_|
|||**19,656 - 19,656**
_31,759_
**569,644**
**26,229**
**595,873**
_681,602_|
|||**589,300**
**26,229**
**615,529**
_713,361_|
|||**_66,275_**
**_(3,218)_**
**_63,057_**
_(27,265)_
**-**
**1,326**
**1,326**
_676_|
|||**_66,275_**
**_(1,892)_**
**_64,383_**
_(26,589)_
**3,202**
**3,202**
_2,916_|
|||**69,477**
**(1,892)**
**67,585**
_(23,673)_
**4,788**
**(4,788)**
_-_|
|||**74,265**
**(6,680)**
**67,585**
_(23,673)_|
|||**357,659**
**107,154**
**464,813**
_488,486_
**74,265**
**(6,680)**
**67,585**
_(23,673)_|
|||**431,924**
**100,474**
**532,398**
_464,813_|
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FINANCIALS
## BALANCE SHEETS
||for|the year|ended 31 October|ended 31 October|2025|
|---|---|---|---|---|---|
|||**Group**||**Charity**||
|||**2025**|_2024_|**2025**|_2024_|
||**Note**|**£**|_£_|**£**|_£_|
|**Fixed assets**||||||
|Intangible fixed assets|15|**15,376**|_26,249_|**14,826**|_26,249_|
|Tangible assets|16|**6,131**|_8,606_|**3,851**|_5,704_|
|Investments|17|**10,993**|_9,667_|**60,995**|_59,669_|
|||**32,500**|_44,522_|**79,672**|_91,622_|
|**Current assets**||||||
|Stocks|18|**7,704**|_7,113_|**-**|_-_|
|Debtors|19|**66,729**|_68,503_|**93,350**|_67,475_|
|Cash at bank and in hand||**685,490**|_646,400_|**597,948**
|_601,530_|
|||**759,923**|_722,016_|**691,298**
|_669,005_|
|Creditors: amounts falling due||||||
|within one year|20|**(260,025)**
|_(301,725)_
|**(255,517)**
|_(312,391)_|
|**Net current assets**||**499,898**|_420,291_|**435,781**
|_356,614_|
|**Total assets less current**||||||
|**liabilities**||**532,398**|_464,813_|**515,453**
|_448,236_|
|**Total net assets**||**532,398**|_464,813_|**515,453**
|_448,236_|
|**Charity Funds**||||||
|Restricted funds|21|**100,474**
|_107,154_|**100,474**
|_107,154_|
|Unrestricted funds|21|**431,924**|_357,659_|**414,979**
|_341,082_|
|**Total funds**||**532,398**|_464,813_|**515,453**
|_448,236_|
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on …........................ and signed on their behalf by:
Melanie Williams President The notes on pages 28 to 59 form part of these financial statements
Merrill Tanton Chair of the Audit Committee
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FINANCIALS
## STATEMENTS OF CASH FLOWS
## for the year ended 31 October 2025
|**Cash flows from operating activities**
Net cash generated/(used) in operating activities
**Cash flows from investing activities**
Dividends, interests and rents from investments
Proceeds from the sale of tangible fixed assets
Purchase of intangible assets
Purchase of tangible fixed assets
Taxation refund
**Net cash provided by/(used in) investing activities**
**Cash flows from financing activities**
Net cash provided by financing activities
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year|**Group**
**2025**
**£**
_2024_
_£_
**28,007**
_7,194_
**15,387**
_15,350_
**-**
_-_
**(7,506)**
_(9,455)_
**-**
_(4,206)_
**3,202**
**11,083**
_1,689_
-
_-_
**39,090**
_8,883_
**646,400**
_637,517_
**685,490**
_646,400_|**Charity**
**2025**
**£**
_2024_
_£_
**(12,904)**
_12,004_|
|---|---|---|
|||**13,076**
_14,221_
**-**
_-_
**(6,956)**
_(9,454)_
**-**
_(2,271)_
**3,202**
_2,916_|
|||**_9,322_**
_5,412_|
|||**-**
_-_|
|||**(3,582)**
_17,416_
**601,530**
_584,114_|
|||**597,948**
_601,530_|
The notes on pages 28 to 59 form part of these financial statements.
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FINANCIALS
## NOTES TO THE FINANCIAL STATEMENTS
## for the year ended 31 October 2025
## **1. General information**
The Charity is a company which is limited by guarantee and every member of the Charity undertakes to contribute to the assets of the Charity in the event of the same being wound up while they are a member, or within one year after they cease to be a member, for payments of debts and liabilities of the Charity contracted before they cease to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributions among themselves, such amounts as may be required not exceeding £1.
The Charity is registered in England and Wales with the Charity Commission, and in Scotland with the Scottish Charity Regulator. The registered office is St Anthony's Hall, Peasholme Green, York, YO1 7PW.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Quilters' Guild of the British Isles meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
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 £1.
Assets and liabilities are initially recognised at cost or transaction value unless otherwise stated in the relevant accounting policy notes.
On the grounds that the charitable company's results are consolidated into the charitable company's group accounts the charitable company has taken advantage of certain exemptions conferred by section 1.11 of FRS 102 as follows:
- Exemption from disclosing each category of financial assets and financial liabilities at the reporting date.
- date as required by section 11.41 of FRS 102.
The Consolidated Statement of Financial Activities (SOFA) and Consolidated 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.
## **2.2 Going concern**
The Trustees have, at the time of approving the financial statements, a reasonable expectation that the charity has adequate resources to continue in operational existence for the twelve months from date of signing the financial statements. In addition, the Trustees have no intention to wind the company up in the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
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FINANCIALS
## NOTES TO THE FINANCIAL STATEMENTS
## for the year ended 31 October 2025
## **2. Accounting policies (continued)**
## **2.3 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 measured reliably.
Grants are included in the Consolidated Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income receivable by way of donations and sponsorship is included in full in the SOFA when receivable.
Membership subscriptions are included in the SOFA for the period to which they relate, with subscriptions received in advance being deferred to future periods.
Tax recoverable on covenanted income and Gift Aid donations are included in the SOFA for the period to which they relate, with Gift Aid on subscriptions received in advance being deferred to future periods.
Investment income - Interest and dividends are recognised upon receipt by the charity, when the amount that the charity is entitled to is confirmed.
## **2.4 Volunteers**
No amounts are included in the financial statements for services donated by volunteers.
## **2.5 Expenditure**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings the have been apportioned on a basis consistent with the use of resources as disclosed in note 10.
Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Charitable expenditure comprises those costs incurred by the charitable company in the delivery of its activities and services for its beneficiaries.
All expenditure is inclusive of irrecoverable VAT.
Support costs comprise all non-attributable costs including Finance, Human Resources, Information Technology, Marketing, and Depreciation. These costs have been allocated across the functional categories of expenditure on the basis of time spent by employees on each activity.
29 of 59
FINANCIALS
## NOTES TO THE FINANCIAL STATEMENTS
## for the year ended 31 October 2025
## **2. Accounting policies (continued)**
## **2.6 Taxation**
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **2.7 Intangible assets and amortisation**
Intangible assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.
Amortisation is provided on the following basis:
Computer software - 33 % straight line
## **2.8 Tangible fixed assets and depreciation**
Tangible fixed assets costing £100 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
|Fixtures and fittings|- 10%|straight line|
|---|---|---|
|Office equipment|- 20%|straight line|
|Computer equipment|- 33%|straight line|
Grants in respect of expenditure on tangible fixed assets are treated as either fund income or deferred income. The grant is released to the SOFA over the expected useful life of the related asset in line with the depreciation policy.
30 of 59
FINANCIALS
## NOTES TO THE FINANCIAL STATEMENTS
## for the year ended 31 October 2025
## **2. Accounting policies (continued)**
## **2.9 Investments**
Investments (other than investments in subsidiaries) are stated at market value at the balance sheet date. The SOFA includes the net gains and losses arising on revaluations and disposals throughout the year.
The investment portfolio is held to generate returns and gains for the group and accordingly is designated as fair value through profit and loss (FVTPL). Under this designation the portfolio is revalued at each period end to its fair value, as determined by reference to quoted market prices and values determined by independent fund managers, with any gains or losses going through the statement of financial activity.
Investments in subsidiaries are stated at cost and the Trustees review the carrying value annually for indications of impairment.
## **2.10 Stocks**
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
## **2.11 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.
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in the income and expenditure account.
## **2.12 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account held for working capital. Bank overdrafts are shown within borrowing in current liabilities.
## **2.13 Creditors, loans, and provisions**
Creditors, loans, and provisions are recognised where the group has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors, loans, and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Financial liabilities are derecognised when, and only when, the group's obligations are discharged, cancelled or they expire.
Amounts recognised as provisions are best estimates of the consideration required to settle the present obligation at the reporting date end, taking into account the risks and uncertainties surrounding the obligation.
31 of 59
FINANCIALS
## NOTES TO THE FINANCIAL STATEMENTS
## for the year ended 31 October 2025
## **2. Accounting policies (continued)**
## **2.14 Financial instruments**
The Group has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instrument Issues' of FRS 102 to all of its financial instruments.
## **2.15 Operating leases**
Rentals paid under operating leases are charged to the Consolidated Statement of Financial Activities on a straight-line basis over the lease term.
## **2.16 Pensions**
The charity operates a defined contribution pension arrangement for the benefit of employees. The assets of the schemes are held and managed separately from those of the charity. The charge to the SOFA represents the contributions payable by the charity to the schemes during the year.
## **2.17 Fund accounting**
Unrestricted funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.
Designated funds are allocated from the general fund or received from third parties which have no restriction on their uses.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. Where no on-going restriction remains and all original conditions and restrictions have been met in relation to the original grant or donation, funds are transferred to general funds. The purpose and use of the restricted funds is set out in note 21.
The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
32 of 59
FINANCIALS
## NOTES TO THE FINANCIAL STATEMENTS
## for the year ended 31 October 2025
## **3. Critical accounting estimates and areas of judgement**
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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.
Critical accounting estimates and assumptions:
## Allocation of support costs:
Support costs are allocated on a direct basis to the activities to which they relate. There are instances where costs, which as staff costs, relate to more than one activity. These costs are allocated by management to reflect the activities performed. The allocation of these costs is considered to be critical to the accounts because they have the ability to materially alter the allocation of costs between expenditure on raising funds and expenditure on charitable activities.
## Critical areas of judgement:
Debtor provision – There is an element of estimation and judgement made by the Trustees when assessing whether trade debtors are recoverable. The Trustees review the aged debtor reports on a monthly basis and provisions are made for balances where recovery is considered doubtful.
Investment valuation – The Trustees has applied judgement when assessing whether there are indicators of impairment in the carrying value of the investment.
33 of 59
FINANCIALS
## NOTES TO THE FINANCIAL STATEMENTS
## for the year ended 31 October 2025
## **4 Charity**
**Income from donations and legacies**
|Donations and sponsorship
Grant income
Gift Aid income|**Unrestricted**
**funds**
**2025**
**£**
**Restricted**
**funds**
**2025**
**£**
**Total**
**funds**
**2025**
**£**
62,326
2,647
**64,973**
- -**-**
42,792
651
**43,443**|
|---|---|
||105,118
3,298
**108,416**|
|Donations and sponsorship
Grant income
Gift Aid income
**Group**
**Income from donations and legacies**
Donations and sponsorship
Grant income
Gift Aid income
Donations and sponsorship
Grant income
Gift Aid income|_Unrestricted_
_funds_
_2024_
_£_
_Restricted_
_funds_
_2024_
_£_
_Total_
_funds_
_2024_
_£_
_11,777_
_(460)_
_11,317_
_- - -_
_30,256_
_233_
_30,489_
_42,033_
_(227)_
_41,806_
**Unrestricted**
**funds**
**2025**
**£**
**Restricted**
**funds**
**2025**
**£**
**Total**
**funds**
**2025**
**£**
35,890
2,647
**38,537**
- -**-**
42,792
651
**43,443**
78,682
3,298
**81,980**
_Unrestricted_
_funds_
_2024_
_£_
_Restricted_
_funds_
_2024_
_£_
_Total_
_funds_
_2024_
_£_
_10,648_
_(460)_
_10,188_
_- - -_
_30,256_
_233_
_30,489_
_40,904_
_(227)_
_40,677_
34 of 59|
|---|---|
FINANCIALS
## NOTES TO THE FINANCIAL STATEMENTS
## for the year ended 31 October 2025
## **5 Income from charitable activities**
|**Charity only**
British Quilt Study Group
Contemporary Quilt
Judging Course
Education and outreach
Communication
Miniature Quilt Group
Regional activities
Traditional Quilt Group
Modern Quilt Group
The Loft
**Subsidiary only**
Conference
Magazine advertisements
**Charity only**
British Quilt Study Group
Contemporary Quilt
Judging Course
Education and outreach
Communication
Miniature Quilt Group
Regional activities
Traditional Quilt Group
Modern Quilt Group
The Loft
**Subsidiary only**
Conference
Magazine advertisements|**Unrestricted**
**funds**
**2025**
**£**
**Restricted**
**funds**
**2025**
**£**
**Total**
**funds**
**2025**
**£**
18,810
**18,810**
3,635
**3,635**
19,824
**19,824**
- 9,630**9,630**
28,590
**28,590**
2,404
**2,404**
90,666
**90,666**
1,367
**1,367**
3,240
**3,240**
22,974
**22,974**|
|---|---|
||191,510 9,630
**201,140**
18,997
**18,997**
8,952
**8,952**|
||219,459 9,630
**229,089**|
||_Unrestricted_
_funds_
_2024_
_£_
_Restricted_
_funds_
_2024_
_£_
_Total_
_funds_
_2024_
_£_
_33,502_
_33,502_
_973_
_973_
_3,961_
_3,961_
_-_
_26,162_
_26,162_
_28,659_
_28,659_
_2,663_
_2,663_
_128,470_
_128,470_
_1,019_
_1,019_
_3,568_
_3,568_
_29,313_
_29,313_|
||_232,128_
_26,162_
_258,290_
_8,950_
_8,950_
_10,163_
_10,163_|
||_251,241_
_26,162_
_277,403_|
35 of 59
FINANCIALS
## NOTES TO THE FINANCIAL STATEMENTS
## for the year ended 31 October 2025
- **6 Income from other trading activities**
## **Income from fundraising events**
|**Charity only**
Fundraising
Membership subscriptions
Other income
**Subsidiary only**
Retail sales
**Charity only**
Fundraising
Membership subscriptions
Other income
**Subsidiary only**
Retail sales|**Unrestricted**
**funds**
**2025**
**£**
**Restricted**
**funds**
**2025**
**£**
**Total**
**funds**
**2025**
**£**
1,567
8,880
**10,447**
314,407 59
**314,466**
4,757 -**4,757**|
|---|---|
||320,731
8,939
**329,670**
22,460
**22,460**|
||343,191
8,939
**352,130**|
||_Unrestricted_
_funds_
_2024_
_£_
_Restricted_
_funds_
_2024_
_£_
_Total_
_funds_
_2024_
_£_
_4,640_
_8,760_
_13,400_
_306,804_
_52_
_306,856_
_2,374_
_- 2,374_|
||_313,818_
_8,812_
_322,630_
_30,036_
_- 30,036_|
||_343,854_
_8,812_
_352,666_|
36 of 59
FINANCIALS
## NOTES TO THE FINANCIAL STATEMENTS
## for the year ended 31 October 2025
## **7 Investment income**
|**Charity**
Income from local listed investments
**Group**
Income from local listed investments
**Charity**
Income from local listed investments
**Group**
Income from local listed investments|**Unrestricted**
**funds**
**2025**
**£**
**Restricted**
**funds**
**2025**
**£**
**Total**
**funds**
**2025**
**£**
11,932 1,144
**13,076**|
|---|---|
||14,243 1,144
**15,387**|
||_Unrestricted_
_funds_
_2024_
_£_
_Restricted_
_funds_
_2024_
_£_
_Total_
_funds_
_2024_
_£_
_13,033_
_1,188_
_14,221_|
||_14,162_
_1,188_
_15,350_|
## **8 Taxation**
|**Charity and Group**
Museum and Galleries Exhibition Tax Relief
**Charity and Group**
Museum and Galleries Exhibition Tax Relief|**Unrestricted**
**funds**
**2025**
**£**
**Total**
**funds**
**2025**
**£**
3,202**3,202**|
|---|---|
||_Unrestricted_
_funds_
_2024_
_£_
_Total_
_funds_
_2024_
_£_
_2,916_
_2,916_|
37 of 59
FINANCIALS
## NOTES TO THE FINANCIAL STATEMENTS
## for the year ended 31 October 2025
## **9 Expenditure on raising funds**
## **Raising funds expenditure**
|**Group**
Raising funds
Wages and salaries
Social security costs
Contribution to defined contribution pension schemes|**Unrestricted**
**funds**
**2025**
**£**
**Total**
**funds**
**2025**
**£**
_Total_
_funds_
_2024_
_£_
19,656
**19,656**
_31,105_
-
**-**
_592_
-
**-**
_44_
-
**-**
_18_|
|---|---|
||_19,656_
**_19,656_**
_31,759_|
Raising funds expenditure was unrestricted in the current year and the prior year
The expenditure by the Charity in raising funds was £ NIL _(2024: £ NIL)_
## **10 Analysis of expenditure on charitable activities**
## **Summary by fund type**
|**Group**
Charitable activities
Charitable activities
**Charity**
Charitable activities
Charitable activities|**Unrestricted**
**funds**
**2025**
**£**
**Restricted**
**funds**
**2025**
**£**
**Total**
**funds**
**2025**
**£**
569,644
26,229
**595,873**|
|---|---|
||_Unrestricted_
_funds_
_2024_
_£_
_Restricted_
_funds_
_2024_
_£_
_Total_
_funds_
_2024_
_£_
_640,283_
_41,319_
_681,602_|
||**Unrestricted**
**funds**
**2025**
**£**
**Restricted**
**funds**
**2025**
**£**
**Total**
**funds**
**2025**
**£**
563,384
26,229
**589,613**|
||_Unrestricted_
_funds_
_2024_
_£_
_Restricted_
_funds_
_2024_
_£_
_Total_
_funds_
_2024_
_£_
_634,699_
_41,319_
_676,018_|
38 of 59
FINANCIALS
## NOTES TO THE FINANCIAL STATEMENTS
## for the year ended 31 October 2025
## **11 Analysis of expenditure by activities**
|**Group**
Charitable activities
Charitable activities
**Charity**
Charitable activities
Charitable activities|**Activities**
**undertaken**
**directly**
**2025**
**£**
**Support**
**costs**
**2025**
**£**
**Total**
**funds**
**2025**
**£**
314,685
281,188
**595,873**|
|---|---|
||_Activities_
_undertaken_
_directly_
_2024_
_£_
_Support_
_costs_
_2024_
_£_
_Total_
_funds_
_2024_
_£_
_384,111_
_297,491_
_681,602_|
||**Activities**
**undertaken**
**directly**
**2025**
**£**
**Support**
**costs**
**2025**
**£**
**Total**
**funds**
**2025**
**£**
313,553
276,060
**589,613**|
||_Activities_
_undertaken_
_directly_
_2024_
_£_
_Support_
_costs_
_2024_
_£_
_Total_
_funds_
_2024_
_£_
_383,237_
_292,781_
_676,018_|
39 of 59
FINANCIALS
## NOTES TO THE FINANCIAL STATEMENTS
## for the year ended 31 October 2025
## **11 Analysis of expenditure by activities (continued)**
## **Analysis of direct costs**
|£40 for 40 years - Staff costs
Anne Morgan Legacy Fund
British Quilt Study Group
Communication
Conference
Contemporary Quilt award
Collection Management
Contemporary Quilt
Education
Mary Ann Corp Fund
Membership
Miniature Quilt Group
Modern Quilt Group
Purchases from subsidiary
QGCI - Education and Travel
Scholarship
The Quilters' Guild Collection
Regional activities
Sue Belton Legacy Fund
The Loft
Traditional Quilt Group
Heritage Lottery Fund
depreciation
Young Quilters Project|**Group**
**Charity**
**Total**
**funds**
**2025**
**£**
_Total_
_funds_
_2024_
_£_
**Total**
**funds**
**2025**
**£**
_Total_
_funds_
_2024_
_£_
**-**_3,496_
**-**_3,496_
**901**_506_**901**_506_
**25,262**
_36,002_
**25,262**
_36,002_
**117,098**
_113,560_
**44,899**
_45,741_
**1,029**_665_
**-**
_-_
**-**
_360_
**-**
_360_
**1,900**
_5,509_
**1,900**
_5,509_
**10,146**
_9,216_
**10,146**
_9,216_
**11,044**
_9,675_
**11,044**
_9,675_
**8,406**
_19,913_**8,406**
_19,913_
**9,220**
_7,271_
**9,220**
_7,271_
**4,534**
_3,553_
**4,534**
_3,553_
**6,036**
_5,753_**6,036**
_5,753_
**-**
_-_
**72,096**
_67,610_
**1,120**
_1,354_
**1,120**
_1,354_
**3,972**
_4,127_
**3,972**
_4,127_
**86,604**
_133,255_
**86,604**
_133,255_
**1,200**
_-_**1,200**
_-_
**5,707**
_9,657_
**5,707**
_9,657_
**5,904**
_4,549_
**5,904**
_4,549_
**9,431**
_10,310_
**9,431**
_10,310_
**5,171**
_5,380_
**5,171**
_5,380_|
|---|---|
||**314,685**
_384,111_
**313,553**
_383,237_|
40 of 59
FINANCIALS
## NOTES TO THE FINANCIAL STATEMENTS
## for the year ended 31 October 2025
## **11 Analysis of expenditure by activities (continued)**
## **Analysis of support costs**
|**Analysis of support costs**||
|---|---|
|Amortisation of computer software
Audit and accountancy charges
Bank charges
Computer maintenance
Contractor services
Depreciation of Fixtures, fittings and equipment
Equipment hire and maintenance
General insurance
Governance
Printing, postage and stationary
Premises costs
Professional fees
Redundancy costs
Staff costs
Sundries
Telephone and internet
Travel and subsistence|**Group**
**Charity**
**Total**
**funds**
**2025**
**£**
_Total_
_funds_
_2024_
_£_
**Total**
**funds**
**2025**
**£**
_Total_
_funds_
_2024_
_£_
**8,951**
_5,885_
**8,951**
_5,885_
**17,780**
_12,275_
**15,000**
_9,600_
**814**
_832_
**605**
_628_
**9,847**
_9,399_
**9,343**
_9,024_
**-**
_9,384_
**-**
_9,384_
**2,476**
_6,460_
**1,853**
_6,027_
**2,126**
_2,173_
**2,126**
_2,173_
**8,130**
_8,869_
**8,130**
_8,869_
**5,524**
_4,376_
**5,524**
_4,376_
**4,739**
_8,455_
**4,739**
_8,325_
**39,200**
_40,287_
**39,200**
_40,287_
**3,416**
_3,785_
**3,008**
_3,414_
**-**
_16,209_
**-**
_16,209_
**174,317**
_164,213_
**174,317**
_164,213_
**577**
_1,093_
**543**
_1,080_
**2,523**
_2,359_
**2,523**
_2,359_
**768**
_1,437_
**198**
_928_|
||**281,188**
_297,491_
**_276,060_**
_292,781_|
## **12 Auditor's remuneration**
||**2025**|_2024_|
|---|---|---|
|Fees payable to the Group's auditor for the audit of|||
|the Group's annual accounts|**14,400**|_8,000_|
|Fees payable to the Charity's auditor in respect of:|||
|Non-audit services|**2,100**|_2,000_|
|All taxation advisory services not included above|**1,280**|_650_|
All taxation advisory services not included above
41 of 59
FINANCIALS
## NOTES TO THE FINANCIAL STATEMENTS
## for the year ended 31 October 2025
## **13 Staff costs**
|Wages and salaries
Social security costs
Contribution to defined contribution
pension schemes
During the year redundancy payments we
The average number of persons employed
Employees|**Group**
**2025**
**£**
_Group_
_2024_
_£_
**Charity**
**2025**
**£**
_Charity_
_2024_
_£_
**175,364**
168,588
**168,114**
168,588
**7,236**
8,746
**6,875**
8,746
**3,313**
4,525
**3,313**
4,525|
|---|---|
||**185,913**
181,859
**178,302**
181,859|
||re made of £ NIL_(2024: £16,209)_
by the Charity during the year was as follows:
**Group**
**2025**
**No.**
_Group_
_2024_
_No._
**Charity**
**2025**
**No.**
_Charity_
_2024_
_No._
**7**
_8_
**7**
_8_|
No employee received remuneration amounting to more than £60,000 in either year.
The charitable company operates and makes contributions to a defined contribution pension scheme. The assets of the pension scheme are held separately from those of the charitable company in an independently administered fund. The pension cost charge for the period was £3,313 _(2024: £4,525)._
The key management personnel of the Charity comprise the trustees and the senior management team. The total employee benefits of the key management personnel employed by the Charity, which encompasses 1 individual _(2024: 1 individual)_ , were £41,695 _(2024: £42,582)_
## **14 Trustees' remuneration and expenses**
During the year no Trustees received any remuneration or other benefits _(2024: £NIL)_
During the year ended 31 October 2025, expenses totalling £3,724 were reimbursed or paid directly to 7 Trustees. _(2024: £4,922 to 9 Trustees)_
42 of 59
FINANCIALS
## NOTES TO THE FINANCIAL STATEMENTS
## for the year ended 31 October 2025
## **15 Intangible assets**
## **Group**
|**Cost**
As at 1 November 2024
Additions
Disposals
As at 31 October 2025
**Amortisation**
As at 1 November 2024
Charge for the year
Disposals
As at 31 October 2025
**Net book value**
As at 31 October 2025
As at 31 October 2024|**Computer**
**software**
**£**
**Trademarks**
**£**
**Total**
**£**
56,278
-
56,278
6,006
1,500
7,506
(2,616)
-
(2,616)|
|---|---|
||59,668
1,500
61,168|
||30,029
-
30,029
17,426
-
17,426
(1,663)
-
(1,663)|
||45,792
-
45,792|
||13,876
1,500
15,376|
||26,249
-
26,249|
No amortisation on additions is charged in the year of acquisition.
43 of 59
FINANCIALS
## NOTES TO THE FINANCIAL STATEMENTS
## for the year ended 31 October 2025
## **15 Intangible assets (continued)**
|**Charity**
**Cost**
As at 1 November 2024
Additions
Disposals
As at 31 October 2025
**Amortisation**
As at 1 November 2024
Charge for the year
Disposals
As at 31 October 2025
**Net book value**
As at 31 October 2025
As at 31 October 2024|**Computer**
**software**
**£**
**Trademarks**
**£**
**Total**
**£**
56,278
-
56,278
6,006
950
6,956
(2,616)
-
(2,616)|
|---|---|
||59,668
950
60,618|
||30,029
-
30,029
17,426
-
17,426
(1,663)
-
(1,663)|
||45,792
-
45,792|
||13,876
950
14,826|
||26,249
-
26,249|
No amortisation on additions is charged in the year of acquisition.
44 of 59
FINANCIALS
## NOTES TO THE FINANCIAL STATEMENTS
## for the year ended 31 October 2025
## **16 Tangible fixed assets**
## **Group**
|**Cost**
As at 1 November 2024
Additions
Disposals
As at 31 October 2025
**Depreciation**
As at 1 November 2024
Charge for the year
Disposals
As at 31 October 2025
**Net book value**
As at 31 October 2025
As at 31 October 2024|**Fixtures and**
**fittings**
**£**
**Office**
**equipment**
**£**
**Computer**
**equipment**
**£**
**Total**
**£**
74,209
14,369
20,769
109,347
-
-
-
-
(11,011)
(199)
-
(11,210)|
|---|---|
||63,198
14,170
20,769
98,137|
||72,743
8,596
19,402
100,741
155
1,465
756
2,376
(11,011)
(100)
-
(11,111)|
||61,887
9,961
20,158
92,006|
||1,311
4,209
611
6,131|
||1,466
5,773
1,367
8,606|
No depreciation on additions is charged in the year of acquisition.
45 of 59
FINANCIALS
## NOTES TO THE FINANCIAL STATEMENTS
## for the year ended 31 October 2025
## **16 Tangible fixed assets**
## **Charity**
|**Cost**
As at 1 November 2024
Additions
Disposals
As at 31 October 2025
**Depreciation**
As at 1 November 2024
Charge for the year
Disposals
As at 31 October 2025
**Net book value**
As at 31 October 2025
As at 31 October 2024|**Fixtures and**
**fittings**
**£**
**Office**
**equipment**
**£**
**Computer**
**equipment**
**£**
**Total**
**£**
62,244
11,877
20,769
94,890
-
-
-
-
-
-
-
-|
|---|---|
||62,244
11,877
20,769
94,890|
||61,690
8,094
19,402
89,186
60
1,037
756
1,853
-
-
-
-|
||61,750
9,131
20,158
91,039|
||494
2,746
611
3,851|
||554
3,783
1,367
5,704|
No depreciation on additions is charged in the year of acquisition.
46 of 59
FINANCIALS
## NOTES TO THE FINANCIAL STATEMENTS
## for the year ended 31 October 2025
## **17 Fixed asset investments**
||**Listed**|
|---|---|
||**investments**|
||**£**|
|**Group**||
|**Cost or valuation**||
|At 1 November 2024|9,667|
|Revaluations|1,326|
|At 31 October 2025|10,993|
|**Net book value**||
|At 31 October 2025|**10,993**|
|_At 31 October 2024_|_9,667_|
|The historical cost of investments at 31 October 2025 was £5,000 (2024: £5,000).||
|**Charity**
**Cost or valuation**
At 1 November 2024
Revaluations
At 31 October 2025
**Net book value**
At 31 October 2025
_At 31 October 2024_|**Investment in**
**subsidiary**
**company**
**£**
**Listed**
**investments**
**£**
**Total**
**£**
50,002
9,667
59,669
1,326
1,326|
|---|---|
||50,002
10,993
60,995|
||**50,002**
**10,993**
**60,995**|
||_50,002_
_9,667_
_59,669_|
47 of 59
FINANCIALS
## NOTES TO THE FINANCIAL STATEMENTS
## for the year ended 31 October 2025
## **17 Fixed asset investments (continued)**
## **Principal subsidiaries**
The following was a subsidiary of the Charity:
||**Company**|**Registered office or principal place of**||
|---|---|---|---|
|**Name**|**Number**|**business**|**Principal activity**|
|Festival of Quilts Limited|3538705|St Anthony's Hall, Peasholme Green,|Operation of arts|
|||York, North Yorkshire, YO1 7PW|facilities|
|**Class of shares**|**Holding**|**Included in consolidation**||
|Ordinary|100%|Yes||
The financial results of the subsidiary for the year were:
|**Name**
Festival of Quilts Limited
**18 Stocks**
Raw materials and
consumables
**19 Debtors**
**Due within one year**
Trade debtors
Amounts due from group
undertakings
Other debtors
Prepayments and accrued
income|**Income**
**£**
**Expenditure**
**£**
124,816
124,448|**Profit/(Loss)**
**Surplus/(Deficit)**
**for the year**
**£**
**Net assets**
**£**
368
66,947|
|---|---|---|
||**Group**
**2025**
**£**
_Group_
_2024_
_£_
**24,215**
_42,339_
**-**
_-_
**6,747**
_2,916_
**35,767**
_23,248_|**Group**
**2025**
**£**
_Group_
_2024_
_£_
**7,704**
_7,113_|
|||**Charity**
**2025**
**£**
_Charity_
_2024_
_£_
**24,090**
_41,618_
**27,115**
_-_
**6,747**
_2,916_
**35,398**
_22,941_|
||**66,729**
_68,503_|**93,350**
_67,475_|
48 of 59
FINANCIALS
## NOTES TO THE FINANCIAL STATEMENTS
## for the year ended 31 October 2025
**20 Creditors: Amounts falling due within one year**
|Trade creditors
Amounts owed to group
undertakings
Other taxation and social security
Other creditors
Accruals and deferred income|**Group**
**2025**
**£**
_Group_
_2024_
_£_
**Charity**
**2025**
**£**
_Charity_
_2024_
_£_
**11,869**
_11,397_
**11,113**
_11,407_
**-**
_-_
**-**
_17,050_
**2,558**
_5,859_
**2,100**
_2,256_
**1,139**
_3,796_
**625**
_3,655_
**244,459**
_280,673_
**241,679**
_278,023_|
|---|---|
||**260,025**
_301,725_
**255,517**
_312,391_|
|Deferred income at 1 November 2024
Resources deferred during the year
Amounts released from previous
periods
Deferred income at 31 October 2025|**Group**
**2025**
**£**
_Group_
_2024_
_£_
**Charity**
**2025**
**£**
_Charity_
_2024_
_£_
**262,933**
_253,695_
**262,933**
_253,695_
**224,808**
_262,933_
**224,808**
_262,933_
**(262,933)**
_(253,695)_
**(262,933)**
_(253,695)_|
|---|---|
||**224,808**
_262,933_
**224,808**
_262,933_|
Deferred income relates to membership income and its associated gift aid, primarily received quarterly or annually in advance. Where membership income and its associated gift aid is received in advance, it is released on a monthly basis allowing income to match the membership period.
49 of 59
FINANCIALS
## NOTES TO THE FINANCIAL STATEMENTS
## for the year ended 31 October 2025
## **21 Statement of funds**
**Statement of funds - current year**
|**Unrestricted funds**
**Designated funds**
British Quilt Study Group Fund
Collections' Management Fund
Contemporary Quilt Fund
Founder Members' Bursary Fund
Judging Courses
Miniature Quilt Group Fund
Modern Quilt Group Fund
Regional Funds (General)
The Loft
Traditional Quilt Group Fund
Total designated funds
**General funds**
General reserves
**Total unrestricted funds**|**Balance at**
**1 November 2024**
**£**
**Income**
**£**
**Expenditure**
**£**
**Taxation**
**£**
**Transfers**
**in/(out)**
**£**
**Gains/**
**(Losses)**
**£**
**Balance at**
**31 October 2025**
**£**
**23,640**
**23,187**
**(25,262)**
**-**
**21,565**
**2,002**
**1,809**
**(1,900)**
**6,908**
**8,819**
**29,897**
**13,079**
**(10,146)**
**-**
**32,830**
**404**
**-**
**-**
**-**
**404**
**3,002**
**19,824**
**(8,858)**
**(376)**
**13,592**
**8,938**
**4,229**
**(4,534)**
**-**
**8,633**
**19,446**
**8,551**
**(6,036)**
**(5,000)**
**16,961**
**136,006**
**96,041**
**(86,604)**
**-**
**145,443**
**500**
**22,974**
**(5,707)**
**(17,267)**
**500**
**12,002**
**4,838**
**(5,904)**
**-**
**10,936**|
|---|---|
||**235,837**
**194,532**
**(154,951)**
**-**
**(15,735)**
**-**
**259,683**|
||**121,822**
**461,043**
**(434,349)**
**3,202**
**20,523**
**-**
**172,241**|
||**357,659**
**655,575**
**(589,300)**
**3,202**
**4,788**
**-**
**431,924**|
50 of 59
FINANCIALS
## NOTES TO THE FINANCIAL STATEMENTS
## for the year ended 31 October 2025
## **21 Statement of funds (continued)**
**Statement of funds - current year (continued)**
|**Restricted funds**
Anne Morgan Fund
Anne Tuck Fund
Bogod & Co Fund
Clydesdale Bank Grant
Heritage Lottery Fund
Mary Ann Corp Fund
QGBI Education and Travel
Scholarship Fund
Quilt Historians
Quilt Judging Bursary Fund
Sue Belton Fund
Sue Ridgwell Fund
Young Quilters' Fund
**Total restricted funds**
**Total funds**|**Balance at**
**1 November 2024**
**£**
**Income**
**£**
**Expenditure**
**£**
**Taxation**
**£**
**Transfers**
**in/(out)**
**£**
**Gains/**
**(Losses)**
**£**
**Balance at**
**31 October 2025**
**£**
**9,351**
**-**
**(901)**
**-**
**-**
**-**
**8,450**
**540**
**-**
**-**
**-**
**-**
**-**
**540**
**5,908**
**-**
**-**
**-**
**(5,908)**
**-**
**-**
**500**
**-**
**-**
**-**
**-**
**-**
**500**
**17,462**
**-**
**(9,431)**
**-**
**-**
**-**
**8,031**
**35,116**
**9,630**
**(8,406)**
**-**
**-**
**-**
**36,340**
**5,339**
**243**
**(1,120)**
**-**
**1,120**
**-**
**5,582**
**575**
**-**
**-**
**-**
**-**
**-**
**575**
**2,471**
**2,501**
**-**
**-**
**-**
**-**
**4,972**
**15,822**
**891**
**(1,200)**
**-**
**-**
**1,326**
**16,839**
**224**
**10**
**-**
**-**
**-**
**-**
**234**
**13,846**
**9,736**
**(5,171)**
**-**
**-**
**-**
**18,411**|
|---|---|
||**107,154**
**23,011**
**(26,229)**
**-**
**(4,788)**
**1,326**
**100,474**|
||**464,813**
**678,586**
**(615,529)**
**3,202**
**-**
**1,326**
**532,398**|
51 of 59
FINANCIALS
## NOTES TO THE FINANCIAL STATEMENTS
## for the year ended 31 October 2025
**21 Statement of funds (continued) Statement of funds - prior year**
|**Unrestricted funds**
**Designated funds**
British Quilt Study Group Fund
Collections' Management Fund
Contemporary Quilt Fund
Founder Members' Bursary Fund
Judging Courses
Miniature Quilt Group Fund
Modern Quilt Group Fund
Regional Funds (General)
The Loft
Traditional Quilt Group Fund
Total designated funds
**General funds**
General reserves
**Total unrestricted funds**|_Balance at_
_1 November 2023_
_£_
_Income_
_£_
_Expenditure_
_£_
_Taxation_
_£_
_Transfers_
_in/(out)_
_£_
_Gains/_
_(Losses)_
_£_
_Balance at_
_31 October 2024_
_£_
_22,051_
_37,591_
_(36,002)_
_-_
_-_
_23,640_
_6,139_
_372_
_(5,509)_
_-_
_1,000_
_-_
_2,002_
_28,251_
_10,862_
_(9,216)_
_-_
_-_
_29,897_
_404_
_-_
_-_
_-_
_-_
_404_
_7,965_
_3,961_
_(8,552)_
_-_
_(372)_
_-_
_3,002_
_8,005_
_4,486_
_(3,553)_
_-_
_-_
_8,938_
_16,929_
_8,270_
_(5,753)_
_-_
_-_
_19,446_
_158,499_
_130,206_
_(133,255)_
_-_
_(19,444)_
_-_
_136,006_
_500_
_29,313_
_(9,657)_
_-_
_(19,656)_
_-_
_500_
_12,312_
_4,239_
_(4,549)_
_-_
_-_
_12,002_
_261,055_
_229,300_
_(216,046)_
_-_
_(38,472)_
_-_
_235,837_
_115,197_
_420,861_
_(455,996)_
_2,916_
_38,844_
_-_
_121,822_
_376,252_
_650,161_
_(672,042)_
_2,916_
_372_
_-_
_357,659_
52 of 59|
|---|---|
FINANCIALS
## NOTES TO THE FINANCIAL STATEMENTS
## for the year ended 31 October 2025
## **21 Statement of funds (continued)**
**Statement of funds - prior year (continued)**
|**Restricted funds**
£40 for £40 years
Anne Morgan Fund
Anne Tuck Fund
Bogod & Co Fund
Clydesdale Bank Grant
Heritage Lottery Fund
Mary Ann Corp Fund
QGBI Education and Travel
Scholarship Fund
Quilt Historians
Quilt Judging Bursary Fund
Sue Belton Fund
Sue Ridgwell Fund
Young Quilters' Fund
**Total restricted funds**
**Total funds**|_Balance at_
_1 November 2023_
_£_
_Income_
_£_
_Expenditure_
_£_
_Taxation_
_£_
_Transfers in/(out)_
_£_
_Gains/_
_(Losses)_
_£_
_Balance at_
_31 October 2024_
_£_
_3,496_
_-_
_(3,496)_
_-_
_-_
_-_
_-_
_9,857_
_-_
_(506)_
_-_
_-_
_-_
_9,351_
_900_
_-_
_(360)_
_-_
_-_
_-_
_540_
_6,908_
_(1,000)_
_-_
_-_
_-_
_-_
_5,908_
_500_
_-_
_-_
_-_
_-_
_-_
_500_
_27,772_
_-_
_(10,310)_
_-_
_-_
_-_
_17,462_
_29,129_
_26,272_
_(19,913)_
_-_
_(372)_
_-_
_35,116_
_6,367_
_326_
_(1,354)_
_-_
_-_
_-_
_5,339_
_575_
_-_
_-_
_-_
_-_
_-_
_575_
_2,471_
_-_
_-_
_-_
_-_
_-_
_2,471_
_14,295_
_851_
_-_
_-_
_-_
_676_
_15,822_
_213_
_11_
_-_
_-_
_-_
_-_
_224_
_9,751_
_9,475_
_(5,380)_
_-_
_-_
_-_
_13,846_|
|---|---|
||_112,234_
_35,935_
_(41,319)_
_-_
_(372)_
_676_
_107,154_|
||_488,486_
_686,096_
_(713,361)_
_2,916_
_-_
_676_
_464,813_|
53 of 59
FINANCIALS
## NOTES TO THE FINANCIAL STATEMENTS
## for the year ended 31 October 2025
## **21 Statement of funds (continued)**
## **Purpose of designated funds**
The designated funds were set up to identify and separate the income and expenditure relating to specific projects.
Founder Members' Fund To enable Guild members further their knowledge of patchwork and quilting. Collections' Management Fund Contributions towards the acquisition and conservation of quilts. Judging Courses Income raised from running of quilt judging courses.
The remaining funds relate to the regions and special interest groups which are administered independently of The Guild but form part of the overall entity. The funds for these are therefore disclosed separately. The transfers relate to monies held in the Charity's general reserve for these groups at the year end.
## **Purpose of grant funds**
Clydesdale Bank Grant Grant towards the cost of Investing in Volunteers accreditation. Heritage Lottery Fund 2020 Grant towards and education and volunteering programme **Purpose of legacy funds** Anne Morgan Fund Contribution towards the upkeep of the Anne Morgan Cup which is to be presented at the Annual Conference for the best miniature quilt. Sue Belton Fund Contribution for awards education. Sue Ridgwell Fund Fund for competitions for Guild members **Purpose of donation funds** £40 for 40 years Donations received towards the cost of setting up an education programme. Anne Tuck Fund Donation received towards the provision of an annual prize for a Contemporary Quilt challenge. Mary Ann Corp Fund Donations received towards the cost of setting up an education programme in Region 2. Quilt Historians Donations towards received the cost of an initial pilot to interview Quilt Historians. QGBI Education and Travel Scholarship Fund Bursaries to fulfil The Guild's educational remit for member students. Young Quilters' Fund Donations, sponsorship and grants towards the running of projects for Young Quilters. Bogod & Co Fund Donations received towards the purchase of contemporary pieces for the Collection During the year the donor has given permission for the monies to be allocated to unrestricted reserves. The money has been allocated to the Collection Fund. Quilt Judging Bursary Fund Donation received to provide a bursary for the Quilt Judging Course.
## **Transfers between funds**
Transfers between funds are discussed and approved by Trustees at Board Meetings. The principal transfers during the year concern the use of unrestricted funds.
54 of 59
FINANCIALS
## NOTES TO THE FINANCIAL STATEMENTS
## for the year ended 31 October 2025
## **22 Summary of funds**
|Designated funds
General funds
Restricted funds
**Summary of funds - prior year**
Designated funds
General funds
Restricted funds|**Balance at**
**1 November**
**2024**
**£**
**Income**
**£**
**Expenditure**
**£**
**Taxation**
**£**
**Transfers**
**in/(out)**
**£**
**Gains/**
**(Losses)**
**£**
**Balance at**
**31 October**
**2025**
**£**
**235,837**
**194,532**
**(154,951)**
**-**
**(15,735)**
**-**
**259,683**
**121,822**
**461,043**
**(434,349)**
**3,202**
**20,523**
**-**
**172,241**
**107,154**
**23,011**
**(26,229)**
**-**
**(4,788)**
**1,326**
**100,474**|
|---|---|
||**464,813**
**678,586**
**(615,529)**
**3,202**
**-**
**1,326**
**532,398**|
||_Balance at_
_1 November_
_2023_
_£_
_Income_
_£_
_Expenditure_
_£_
_Taxation_
_£_
_Transfers in/(out)_
_£_
_Gains/_
_(Losses)_
_£_
_Balance at_
_31 October_
_2024_
_£_
_261,055_
_229,300_
_(216,046)_
_-_
_(38,472)_
_235,837_
_115,197_
_420,861_
_(455,996)_
_2,916_
_38,844_
_121,822_
_112,234_
_35,935_
_(41,319)_
_-_
_(372)_
_676_
_107,154_|
||_488,486_
_686,096_
_(713,361)_
_2,916_
_-_
_676_
_464,813_|
55 of 59
FINANCIALS
## NOTES TO THE FINANCIAL STATEMENTS
## for the year ended 31 October 2025
## **23 Analysis of net assets between funds - current year**
|Tangible fixed assets
Intangible fixed assets
Fixed asset investments
Current assets
Current liabilities
**Analysis of net assets between funds - prior year**
Tangible fixed assets
Intangible fixed assets
Fixed asset investments
Current assets
Current liabilities|**Unrestricted Funds**
**2025**
**£**
**Restricted Funds**
**2025**
**£**
**Total Funds**
**2025**
**£**
**6,131**
**-**
**6,131**
**7,342**
**8,034**
**15,376**
**-**
**10,993**
**10,993**
**678,476**
**81,447**
**759,923**
**(260,025)**
**-**
**(260,025)**|
|---|---|
||**431,924**
**100,474**
**532,398**|
||_Unrestricted Funds_
_2024_
_£_
_Restricted Funds_
_2024_
_£_
_Total Funds_
_2024_
_£_
_8,603_
_3_
_8,606_
_14,792_
_11,457_
_26,249_
_-_
_9,667_
_9,667_
_625,939_
_96,077_
_722,016_
_(291,675)_
_(10,050)_
_(301,725)_|
||_357,659_
_107,154_
_464,813_|
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FINANCIALS
## NOTES TO THE FINANCIAL STATEMENTS
## for the year ended 31 October 2025
## **24 Reconciliation of net movement in funds to net cash flow from operating activities**
|Net income/(expenditure) for the year
(as per statement of Financial Activities)
**Adjustments for:**
Depreciation charges
Amortisation charges
Losses/(gains) on investments
Dividends, interests and rents from
investments
Loss/(profit) on sale of fixed assets
Decrease/(increase) in stocks
Decrease/(increase) in debtors
(Decrease) in creditors
Taxation refund
**Net cash used in operating activities**|**Group**
**Charity**
**2025**
**£**
_2024_
_£_
**2025**
**£**
_2024_
_£_
**67,585**
_(23,673)_
**67,217**
_(35,479)_
**2,376**
_7,281_
**1,853**
_6,828_
**17,426**
_14,948_
**17,426**
_14,948_
**(1,326)**
_(676)_
**(1,326)**
_(676)_
**(15,387)**
_(15,350)_
**(13,076)**
_(14,221)_
**1,052**
_634_
**953**
_447_
**(591)**
_715_
**-**
_-_
**1,774**
_18,593_
**(25,875)**
_16,646_
**(41,700)**
_7,638_
**(56,874)**
_26,427_
**(3,202)**
_(2,916)_
**(3,202)**
_(2,916)_|
|---|---|
||**28,007**
_7,194_
**(12,904)**
_12,004_|
## **25 Analysis of cash and cash equivalents**
|**Analysis of cash and cash equivalents**||
|---|---|
|Cash in hand|**Group**
**Charity**
**2025**
**£**
_2024_
_£_
**2025**
**£**
_2024_
_£_
**685,490**
_646,400_
**597,948**
_601,530_|
||**685,490**
_646,400_
**597,948**
_601,530_|
## **26 Analysis of changes in net debt**
|Cash at bank and in hand|**As at**
**1 November**
**2024**
**£**
**Cash**
**flows**
**£**
**Acquisition and**
**disposal of**
**subsidiaries**
**£**
**As at**
**31 October**
**2025**
**£**
**646,400**
**39,090**
**-**
**685,490**|
|---|---|
||**646,400**
**39,090**
**-**
**685,490**|
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FINANCIALS
## NOTES TO THE FINANCIAL STATEMENTS
## for the year ended 31 October 2025
## **27 Operating lease commitments**
The Group and the Charity had no commitments under non-cancellable operating leases at 31 October 2025.
## **28 Related party transactions**
During the year the Charity made purchases from Festival of Quilts Limited, the subsidiary, of £72,096 (2024: £67,610). The Charity received a charitable donation made under gift aid of £26,436 (2024: £1,129). Details of outstanding balances as at the year-end are given in note 19 of these Financial Statements.
## **29 Contingent asset**
An individual has left a bequest to the Chairty. The Charity is awaiting a decision from the high court on the legal position as there are several beneficiaries. Once that has been obtained then probate can start and the Charity will have more visibility on the amount, less legal fees, that the Charity will be entitled to.
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ADMINISTRATION
## INDEPENDENT AUDITORS:
## Clive Owen LLP
140 Coniscliffe Road, Darlington, DL3 7RT
## BANKERS:
Unity Trust Bank
4 Brindley Place, Birmingham, B1 2JB
## INVESTMENT ADVISORS:
CCLA Investment Management
1 Angel Lane, London, EC4R 3AB
## REGISTERED OFFICE ADDRESS:
The Quilters’ Guild of the British Isles St Anthony’s Hall, Peasholme Green, York, YO1 7PW
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