The Trefoil Guild Annual Meeting 2018

Transcription

1 The Trefoil Guild Annual Meeting 2018

2 The Trefoil Guild unaudited financial statements for the year ended 31 December 2017 presented by Heather Hern Treasurer of Trefoil Guild

3 FINANCIAL STATEMENTS Charity Law The trustees are responsible for preparing The Trefoil Guild Trustees Report and Financial Statements in accordance with applicable law and UK Accounting Standards. The law applicable to England and Wales requires that the annual financial statements give a true and fair view of the state of affairs of the Charity, and the incoming resources and application of resources of the Charity for the year. Independent Examination The independent examiner, Mr Geoffrey Frost of Blue Spire Ltd, has confirmed that he has no concerns, and has come across no other matters in connection with the examination to which attention should be drawn, in order to enable a proper understanding of the accounts to be reached. The Trefoil Guild s affairs are summarised in the Annual Report, and have been approved and authorised by the trustees. Reasonable Accuracy and Proper Records Proper accounting records should be kept that disclose with reasonable accuracy the financial position of the Charity.

4 The assets are considered to be adequate to fulfil all known obligations. We ended the year with a deficit of 40,597, before gains on investments of 27,268. This deficit was planned and agreed by the trustees in order to reduce the general reserve and bring it into line with the recommended Reserves Policy of the Charity Commission. This Reserves Policy should be maintained at a level broadly equivalent to the annual expenditure of the Guild, to cover the delay in receiving membership subscriptions or any other fluctuations in income and expenditure. The General Reserve of 433,591 at 31 December 2017 represents 119% of this year s expenditure, which compares with 159% in 2016, 156% in 2015 and 182% in The trustees plan to continue reducing this level of Reserves by:- Continuing to support countries and regions in the promotion of Trefoil Guild Absorbing any potential reduction in membership as leaders remain active in Guiding after the age of 65 Enhancing members services

5 FUNDS OF THE CHARITY The Unrestricted Funds of 475,696 can be broken down into Designated Funds of 42,105 and the General Fund of 433,591. As mentioned earlier the General Fund covers the general expenditure of the Trefoil Guild. The Designated Funds comprise:- Unrestricted Funds 66% Restricted Funds 27% Designated Funds 7% a) The Support, Development and Relief Fund (or SDR Fund). This is to provide financial help to Girl Guides and Girl Scouts as individuals or groups, or to communities worldwide, including the UK, when and where financial assistance is seen to be needed to sustain their viability, to develop their membership or deal with unexpected disasters. b) The Platinum Fund is to assist members of The Trefoil Guild with acute mental or physical disability, terminal or serious illness, to enable them to take part with their carers if required, in Trefoil Guild activities. The Expendable Endowment Funds or Restricted Funds total 177,346 This is made up of:- a) The Holiday Fund this gives financial help to leaders, exleaders and Trefoil Guild members to enable them to have a much needed holiday which they could not otherwise afford. b) The Bursary Fund whose purpose is to provided help to Trefoil members with the cost of training, attendance at Gatherings and generally to directly benefit in connection with Trefoil activities. c) The Talking Trefoil, which is to provide an audio version of the Trefoil magazine, and equipment for members with impaired sight, and those where holding and turning a page is difficult.

6 The funds of the Charity are represented by the Net Assets of The Trefoil Guild. These include the investments held, cash at the bank and in hand, stock and monies owed to the Guild less monies owed by the Guild. Creditors Cash/Bank Debtors Stock Investments The Investments Policy of The Trefoil Guild is to achieve both income and growth from the investments whilst ensuring security. A professional adviser manages the funds which are reviewed regularly by the Finance and General Purposes Committee.

7 The Income for the year was in the main from members subscriptions. Other income arose from: Members Subscriptions Donations Legacies Members Activities Magazine Advertising Dividend Income Interest Received Expenditure on charitable activities includes: Membership support and governance Producing The Trefoil magazine Annual report and annual meeting The Trefoil Guild levy to WAGGGS

8 Grants this year have been given to: Starter Packs GOLD Trefoil Members Recruitment The Trefoil Guild is a branch of the Guide Association, but maintains a separate identity. It is independently administered, and as can be seen is financially self-supporting. All major decisions and all the activities of the organisation are carried out by the Board of Trustees, who are all volunteers. The exception being office administration tasks which are covered by members of staff. This year one member of staff took maternity leave so another has been employed in her absence. I would like to take this opportunity to thank both Marie and Tasha for all their help and advice during the year they have been very patient and very supportive.