Professional Documents
Culture Documents
Sample Trust Financial STMT
Sample Trust Financial STMT
2007
for the year ended 31 December
Financial Statements
Statement of Financial Activities 18
Balance Sheet 19
Cash Flow Statement 20
Notes to the Accounts 21
Acknowledgements 33
• Regional Committees – are responsible for the quality of WAGGGS/WOSM Consultative Committee –
Girl Guiding/Girl Scouting within their Region, for providing liaises with the World Organization of the Scout Movement
support through agreed activities within the Region to (WOSM).
enable Member Organizations to contribute towards the
Task Groups – are task orientated and consist of members,
overall achievement of WAGGGS’ strategic objectives.
who have been selected for their particular expertise in
relation to the specific task. The groups report to the relevant
Communications Group – is responsible for the ongoing
Coordinating Group or directly to the World Board, and once
development of WAGGGS’ advocacy work, branding and website,
their task is completed the Group ceases to exist. Examples
merchandising, publications, WAGGGS’ work with the United
of task groups are Leadership Development, Individual Giving,
Nations (UN) and relationships with other non-governmental
UN/Advocacy and Juliette Low Seminar.
organizations (NGO). The Group also has a responsibility for the
World Conference and Fund Development. Olave Baden-Powell Society – is an international support
group dedicated to the development of Girl Guiding and
Girl Scouting all over the world. The President of the Society
attends the Communications Coordinating Group meetings and
meets annually with the World Board.
World Association of Girl Guides and Girl Scouts Registered Charity No. 306125 03
Trustees Report continued
Statement of Trustees’ Responsibilities Internal Control
The World Board (as Trustees) is responsible for preparing the The trustees are responsible for ensuring that WAGGGS has
Trustees’ Report and the financial statements in accordance a sound system of internal control to safeguard its assets
with applicable law and regulations. Under Charity Law, the and will use their best endeavours to ensure that its policies
Trustees have elected to prepare the financial statements in and procedures are implemented and its aims and objectives
accordance with United Kingdom generally accepted accounting are met. It is recognized that the systems can only provide
practice (United Kingdom Accounting Standards and applicable reasonable but not absolute assurance that major risks
law). The financial statements are required by law to give a have been adequately managed. Internal control processes
true and fair view of the state of affairs of the charity as at implemented by the trustees include:
the end of the financial year, and of its incoming resources
and application of those resources, including income and • an Audit Committee which meets at least twice a year
and is mandated by and reports to the World Board. It is
expenditure for the year. In preparing the financial statements,
responsible for providing the World Board with:
the trustees are required to:
– assurance that sound systems and internal controls are
• select suitable accounting policies and apply them embedded in day-to-day processes which can respond
consistently; to significant risks, and are capable of responding to
• make judgements and estimates that are reasonable external and internal changes;
and prudent; – evaluation and advice on the effectiveness of the
governance arrangements of WAGGGS;
• state whether applicable UK accounting standards have
– assurance that WAGGGS’ Risk Management Strategy
been followed, subject to any material departures being
disclosed and explained in the financial statements; is relevant and adequate to ensure that the major
risks identified have been adequately mitigated where
• prepare the financial statements on a going concern basis necessary.
unless it is inappropriate to presume that the charity will
continue its activities. • a Strategic Plan approved by the 32nd World Conference, held
in Jordan in 2005, covers the aims and objectives of the
The trustees are responsible for keeping proper accounting organization for the 2006-2008 triennium. This is used as
records which disclose with reasonable accuracy at any time a basis for annual planning and progress reviews. A review
the financial position of WAGGGS and enable them to ensure of performance to date against the strategic plan was
that the financial statements comply with the Charities Act undertaken during 2007;
1993, the Statement of Recommended Practice, Accounting
and Reporting by Charities (SORP) and the provisions of the • annual budgets are prepared in accordance with the
Strategic Plan, which are reviewed and approved by the
trust deed. They are also responsible for safeguarding the
World Board;
assets of the charity and for their proper application as required
by charity law and hence for taking reasonable steps for the • financial reports compare the results against budget on
prevention and detection of fraud and other irregularities. a quarterly basis and the Finance Committee reviews
In so far as the trustees are aware: these and revised forecasts for the remaining period of the
year. Monthly financial reports are prepared and issued to
• there is no relevant audit information of which the charity’s
operational managers and budget holders;
auditors are unaware;
• the trustees have taken all steps that they ought to have • the World Centres’ activities are reviewed quarterly against
their annual operating plans and performance indicators by
taken to make themselves aware of any relevant audit
the World Centres Committee;
information and to establish that the auditors are aware
of that information. • WAGGGS’ policies and procedures and its financial
controls, are reviewed on a regular basis by the appropriate
The trustees are responsible for the maintenance and integrity
committees. All the financial policies were reviewed and
of the charity and the financial information included on the
approved by the Trustees in September 2007;
charity’s website. Legislation in the United Kingdom governing
the preparation and dissemination of financial statements may • delegation of authority from the trustees to the
differ from legislation in other jurisdictions. Chief Executive and the senior managers including
the segregation of duties within the organization
where practical;
World Association of Girl Guides and Girl Scouts Registered Charity No. 306125 05
Trustees Report continued
Highlights New methodologies will be tested in 2008 to ensure that
we have a full set of performance indicators to measure
of the year
progress directly against the Strategic Plan for 2009-2011.
This work has helped shape the strategy for the next
triennium and reprioritised our activities for 2008.
Achievement against the priorities set for 2007 for each
Key priorities Goal can be seen on pages 9 to 13. As of the end of
this year we believe we have already achieved our target
When setting out our key priorities for 2007 we said for 21 outcomes out of a total of 44 which were set for the
we would evaluate each Member Organization’s key triennium. We are close to achieving the target outcome
performance indicators to assess the quality of Girl Guiding for a further 16 with measurable results and/or evidence
and Girl Scouting within each country, identify areas to be of a large number of successful initiatives which we believe
strengthened and share successes. Member Organizations contribute towards achieving them. There are two outcomes
completed their triennial self-assessment, indicating their where valuable work has been undertaken, but where
progress against the six key areas of development of high there is significant work to do in order to reach the target.
quality Girl Guiding/Girl Scouting: educational programme,
adult training, membership, structure and management,
relationship to society and finance. This performance tool Regional Conferences
helps WAGGGS to monitor the growth and development of
One of the key focuses for the year has been WAGGGS’
its Member Organizations, their strengths and weaknesses
Regional Conferences which were held from May through
and provides guidance on where further support is required.
July in Slovenia, Tunisia, Malaysia, Zambia and Canada.
The results of the assessment that was carried out at The conferences are a central part of WAGGGS democratic
the end of 2006 have been reviewed during 2007 and and participative governance structure where members
compared against the benchmark data from 2003. Looking can actively engage in setting the direction for future
at our key areas of work overall, we find that there has developments, sharing their views and setting priorities
been an overall improvement in relationship to society on key issues. The 2007 Conferences were bigger and
– reflecting the greater emphasis on raising their own bolder than before. Collectively, the events attracted more
profile in their country, and also in line with WAGGGS than 600 volunteers and staff. They shared ideas and best
Goal 3 (The Voice of Girls and Young Women). The practices, planned for the future, building on the results
results from educational programme and adult training of the performance indicators for their respective regions,
have remained stable overall, reflecting very substantial and agreed operational plans for the 2009-2011 triennium.
improvements in some Member Organizations whilst still These operational plans will form the basis of WAGGGS
providing ongoing challenges in some areas. Strategic Plan 2009-2011. This Plan will be discussed and
approved at the World Conference to be held in South Africa
The weakest scores overall relate to membership, finance, in July 2008.
and structure and management. Whilst there has been a
decline in the overall score of 34 associations, we find that Each Conference provided an opportunity to pilot WAGGGS
53 associations have improved their overall score. It should Leadership Development Programme modules, to celebrate
be remembered that this assessment was made during the successes and to network. New regional committees were
first year of the current triennium and the strategies put elected at the end of each event and we welcomed five
in place to address some of these issues will not have had new Regional Chairmen to the World Board.
sufficient time to provide an impact.
At the European Conference, with the theme ‘Celebrate,
Motivate, Activate’, delegates looked at how European Girl
Measuring success Guiding/Girl Scouting can develop the leadership skills
of girls and young women, focusing on how to empower
It is important that we measure and evaluate progress young people to speak out and to influence issues which
against the objectives and outcomes that were set at affect them.
the 32nd World Conference for the current 2006-2008
triennium and this has been another major exercise that With the theme ‘One Voice, One Hand’ the Arab Region
has taken place this year. In doing this, WAGGGS, like many showcased WAGGGS’ advocacy work, giving the delegates
NGOs, recognise that there are difficulties in measuring the opportunity to decide which of WAGGGS’ seven key
outcomes and ultimately impact but this has proved a very messages on adolescent health would define the region’s
valuable exercise. advocacy focus over the next triennium. They concluded:
“discover your potential”, “make healthy food choices” and
“it is important to talk about sex”.
World Association of Girl Guides and Girl Scouts Registered Charity No. 306125 07
1
goal
Trustees Report continued
Progress against the objectives we set ourselves for 2007
We have –
We said we would – • Held the first round table for young women in Jordan.
Delegates from ten Arab countries met to set the guidelines
Finalize WAGGGS Leadership Development Programme for a programme designed to train young women between
(WLDP) and train the facilitators, coaches and mentors the ages of 18 to 25 years in effective leadership skills. The
and pilot the modules at World Centre events. participants were members responsible for training and
programme and two young women under the age of 35
We have – from each Member Organization in the Region. The round
table gave the delegates the opportunity to express their
• Held a number of seminars trialling the WLDP modules.
needs and aspirations as young women and to understand
Sixteen young women leaders took part in a seminar
how these are affected by the cultural realities of their
called ‘Leadership Development & Values Today’ held at Pax
home countries.
Lodge. The five-day seminar took these young leaders of
the future on a journey through leadership theory, leading
teams and personal development. Throughout the seminar,
links were made between the leadership process
and the core values shared by all Girl Guides
and Girl Scouts.
In addition we have –
• Held a series of workshops at the Regional Conferences
using resource materials from the WLDP modules. In the • Seen greater participation by young women at regional
Arab Region the focus was on personal values and in Africa events with 14 young women from 14 countries attending
participants explored personal and organizational values. the Africa Regional Conference, 10 young women from
In the Western Hemisphere discussions centered around 10 countries attending the Arab Conference and 20
diversity while in the Asia Pacific Region workshops were young women from 17 countries attending the Asia Pacific
held on values and conflict resolution. The feedback was Conference.
extremely positive. These workshops on the different • Given 72 guides and leaders from 22 countries from the
aspects of the WLDP have created discussions and a lot Western Hemisphere Region the opportunity to develop
of food for thought. international leadership skills at the Leaders in Action II
• Focused on leadership development and its link to advocacy event at Our Cabaña.
at the ‘Lead & Advocate’ seminar held at Sangam, India. • Provided networking opportunities and training for
• Demonstrated to the 23 participants from 20 countries Chief Executives of Associations and for International
Commissioners in the Europe Region.
taking part in the Helen Storrow Seminar how leadership
and the development of projects on HIV and AIDS is a • Produced a publication ‘Rural Guiding in Africa’ in 2007.
necessary combination.
• Incorporated a leadership element into all events held
• Brought together a group of experienced trainers/ at World Centres and the Community Development
facilitators to work through the modules to ensure that Programme has been introduced for international
the elements of values, non-formal education, inter- volunteers at Sangam.
generational and cross cultural are included in each of the
eight modules. This group of trainers/facilitators will form
• Established two new groups, Central Africa and Indian
Ocean to the South-South Network supported by the
the core pool of people supporting the regions and WAGGGS Africa Region.
in the implementation of the leadership modules.
• Produced a Diversity Toolkit in the Europe Region.
• Begun working with a PhD student in conjunction with
Exeter University to follow and validate the WLDP enabling
us to fine tune our leadership development work with
young women.
We said we would –
Assist nine countries to fulfil the requirements to be
recommended for associate or full membership of In addition we have –
WAGGGS at the 2008 World Conference.
• 31% of Associations improving their overall score
on the performance assessment for adult training from
We have – 2004 to 2007.
World Association of Girl Guides and Girl Scouts Registered Charity No. 306125 09
3
goal
Trustees Report continued
Progress against the objectives we set ourselves for 2007
We have –
• Supported the launch of Plan UK’s ‘Because I am a girl’ report
that includes research on girls.
• Conducted with the support of UPS, a global survey on
volunteering which will help WAGGGS develop strategies
to respond to the needs of the young women who are our
volunteer leaders. The survey is addressing, for example,
aspects of volunteering such as what motivates young people
to join organizations and what inspires a young person to
become a young leader. The Survey is aimed at 11 to 24 year
olds and is available online in English, French and Spanish and
on paper in Arabic, Portuguese and Mandarin. The results will
be used to help inform WAGGGS about how it can meet the
needs of girls and young women in the future.
World Association of Girl Guides and Girl Scouts Registered Charity No. 306125 11
Trustees Report continued
Financial Review
Where did our total income WAGGGS’ income from all sources
come from? amounted to £5.5 million and came from:
There was an increase of 8% (£409K) in the total
income of £5,464K from all sources in 2007 compared World Centres Operating Income, Grants,
with £5,055K in 2006. Although total voluntary £1,362K, 25% £822K, 15%
income is marginally higher than 2006, general
donations were significantly lower than 2006.
World Thinking Day income was particularly Donations
disappointing at £177k (2006: £234K) but donations (including sales of
received by the World Centres increased by 75% from materials & goods),
£246K in 2006 to £431K in 2007. Investment income £798K, 15%
grew by 16% (£52K) over 2006. Increased activity at
the four World Centres generated additional income
of £175K (15%). Grants for specific projects including
the second phase of the UPS Global Signature
Programme increased by £152K. As approved at the Investment Income,
32nd World Conference the total membership fees £375K, 7%
(quota) collectable for the year remained the same
as that of 2006 and 2005 therefore reducing the Olave Baden-Powell Society,
overall reliance on quota to 30% of total income. £261K, 5%
How the money was used to £5.4 million was spent on the
support WAGGGS’ Goals: following activities:
Expenditure on all activities was £5,386K
(2006: £4,910K), 10% higher than in 2006. Goal 1 Leadership, Goal 2 Membership,
The proportion of the total expenditure in £1,496K, 28% £1,561K, 29%
direct support of WAGGGS’ three strategic goals
remained at 74% with a further 17% being
spent on operational support for these activities.
Direct support amounted to £3,978K (2006: £3,636K)
with operational support amounting to £920K
(2006: £897K).
Goal 3 Advocacy,
£921K, 17%
Governance,
£191K, 4% Operational Support Services,
£920K, 17%
Cost of Generating Funds,
£297K, 5%
12 Annual Report and Financial Statements 2007
There was a deficit of income over expenditure of £187K Reserves
(2006: surplus of £316K) in unrestricted income, a surplus of
£189K in restricted income (2006: deficit of £232K) and £76K WAGGGS aims to retain sufficient free reserves to ensure
to the Endowment Fund (2006: £61K). The overall surplus for that contractual commitments to staff, for premises and
the year amounted to £78K (2006:£145K). programme work can be made with reasonable confidence.
The appropriateness of the Reserves Policy is reviewed each
After taking into consideration the gains and losses on triennium in conjunction with WAGGGS’ Strategic Plan and
investments and exchange rate movements of £104K (2006: the degree of risk associated with each of WAGGGS’ target
£476K) there has been an increase in total funds of £182K income sources and the level of the Endowment Fund. For the
compared to an increase of £621K in 2006. 2006-2008 triennium, the World Board has concluded that
As at 31 December 2007 there was an unrealized gain of £77K the overall level of WAGGGS’ unrestricted free reserves should
on the value of WAGGGS’ Investment portfolio (2006: £483K). be maintained at a level of three to six months of annual
This is the amount that WAGGGS would have realized had the unrestricted expenditure. The continued appropriateness of
entire investment portfolio been sold on 31 December 2007. the policy is reviewed annually by the Finance Committee
This value will fluctuate depending on the performance of throughout each triennium.
the investments and the economic conditions affecting the Free reserves available for use by WAGGGS are those that are
UK Stock Market at a particular point in time. During the year readily realizable, less funds whose use are restricted or have
a small loss of £12K was incurred on the sale of investments been designated for particular purposes.
(2006: profit of £143K). The revaluation and exchange
movements on the translation of assets at the World Centres As at 31 December 2007 WAGGGS’ free reserves amounted to
into pounds sterling were £39K compared with losses of £150K £2,232K (2006: £2,448K) represented by Investments and Net
in 2006. Current Assets (see Note 14). This is approximately 49% of the
total anticipated expenditure in 2008.
Fundraising Activities
Designated Funds
Generating unrestricted voluntary contributions to support
WAGGGS continues to be a challenge with income for 2007 These reserves are shown in note 13 on page 31 and are
falling well below expectations. In part this has been due allocated against specific activities scheduled to take place over
to the strength of Sterling against the currencies of those a period of time and are expected to be used within the next
countries which continue to be significant supporters of two years. Although funds were set aside in 2006 to carry out
World Thinking Day. Changes in the Fund Development major upgrading of facilities at Our Chalet which took place in
department have meant there have been resources available 2007 a significant part of this expenditure was funded by the
for fundraising activities for only half the year. Consultants have Our Chalet Foundation. Funds were used in support of the five
been engaged to work with us to develop a compelling case Regional Conferences during the year. Further funds have been
for support and to identify required resources for the future. set aside towards the 33rd World Conference to be held in
Task groups on individual giving and major donor strategy have South Africa in 2008.
been hard at work and more than 30 Friends groups around World Association of Girl Guides and Girl Scouts Annual Review 2007
the world continue to generate significant voluntary support for
the World Centres.
World Association of Girl Guides and Girl Scouts Registered Charity No. 306125 13
Trustees Report continued
Investment Policies and Performance
WAGGGS’ Constitution enables the World Board to invest any The portfolio rose by 6.55% on a total return basis compared
funds which are not immediately required for its purposes to the benchmark rise of 5.70% during the period. The US
in such investments as may be thought fit, subject to any subprime mortgage crisis, the recognition of slowing GDP
conditions and consents as may be required by law. The growth, the threat of inflation from food and energy price rises
World Board has set a clear ethical investment policy which is and the weakening US dollar, supporting higher commodity
driven by WAGGGS’ principles. This policy is reviewed annually prices have all contributed to 2007 being one of the more
and is consistent with Trustees’ responsibilities under the unsettled years for investors as market volatility reached
Charities Act. Our Investment Managers, Merrill Lynch Portfolio extremes, particularly in the second half of the year. Over the
Managers, are instructed to take all reasonable measures to past five years the cumulative the total return on the portfolio
avoid investing in companies where it is possible to determine has been 70% against the benchmark of 53%.
that a material proportion of their revenues are derived from
As at 31 December 2007 there was an unrealized gain on the
the following activities: tobacco, alcohol, illicit drugs, gambling,
portfolio of £77K (2006: £483K).
armaments or war producing items.
In addition, our investment managers are aware that WAGGGS
wishes to avoid investment in regions or companies that have
material dealings that breach human rights, particularly those
of women and girls.
The Future
Our key objectives for 2008, which support the overall
In setting the performance criteria against which the
achievement of the three Goals as part of WAGGGS’ Strategic
performance of the investment portfolio is managed,
Plan for the 2006-2008 triennium, are set out on page 15.
consideration is given to achieving capital growth for WAGGGS’
Endowment Fund and the need to provide up to 5% of Our priorities for the 2006-2008 triennium were set at the
WAGGGS’ total income requirements in the year. The actual 32nd World Conference in 2005. As part of this overall strategy
allocation of assets is reviewed each year taking into account our prime objectives for 2008 are shown below.
advice from the Investment Manager and the degree of risk
considered appropriate for WAGGGS’ investments. The current • Implement a revised fundraising strategy to create a sound
income stream to support the work of the 2009-2011
asset allocation has been set as equities 50%, fixed income/
triennium.
cash instruments 40%, and property/cash 10%.
• Hold the 33rd World Conference in South Africa enabling
Member Organizations to agree the strategic direction for
The performance of the portfolio is measured against the
the next triennium 2009-2011.
following criteria:
• Fixed income return is measured against the FTA • Build and strengthen relationships with corporate partners
and other NGOs.
Government Under 15 Years Index;
• Equity return is measured against the FTSE All - Share Index; • Build upon the monitoring and evaluation work to assess
the impact of WAGGGS’ strategy.
• The total portfolio’s return is measured against the indexed
returns of the underlying asset classes weighted by the
asset allocation percentages established by the Finance
Committee;
• Hold the Juliette Low Seminar in Africa focusing on • Undertake research on the trafficking of girls and young
international leadership, encouraging more participants women with an aim to forging strategic alliances and
from under-represented countries. securing resources for the planned global Tackling
Trafficking project. Member Organizations will initially work
• Exchange of best practices at the Central American in teams to deliver the project.
gathering in Panama and the Caribbean Link Conference for
the Western Hemisphere Region. • Continue to work on developing advocacy plans with
Member Organizations to develop advocacy plans and we
will provide them with a toolkit to enable them to develop
Strong and Growing Member • Increase networking with relevant NGO coalitions that
support our advocacy priorities, including the Alliance of
Organizations – Youth CEOs (“Big 6”) and the Leadership Council of the
Revitalising the Movement Global Coalition on Women and AIDS.
• Building upon the outcome of the volunteerism survey, • The Africa Region will be furthering its partnership with the
undertake more research in order to inform recruitment, African Union.
retention and educational programmes within Member
Organizations.
Approved and authorised for issue by the Board of Trustees on 15 May 2008 and signed on its behalf by:
World Association of Girl Guides and Girl Scouts Registered Charity No. 306125 15
Independent Auditor’s Report
to Trustees
Independent Auditor’s Report Basis of audit opinion
to the Trustees of the World Association We conducted our audit in accordance with International
of Girl Guides and Girl Scouts Standards on Auditing (UK and Ireland) issued by the Auditing
Practices Board. An audit includes examination, on a test
We have audited the financial statements which comprise basis, of evidence relevant to the amounts and disclosures
the Statement of Financial Activities, the Balance Sheet, the in the financial statements. It also includes an assessment
Cash Flow Statement and related notes. of the significant estimates and judgments made by the
This report is made solely to the charity’s trustees as a body, trustees in the preparation of the financial statements, and of
in accordance with the Charities Act 1993. Our audit work whether the accounting policies are appropriate to the charity’s
has been undertaken so that we might state to the charity’s circumstances, consistently applied and adequately disclosed.
trustees those matters we are required to state to them in an We planned and performed our audit so as to obtain all the
auditor’s report and for no other purpose. To the fullest extent information and explanations which we considered necessary
permitted by law, we do not accept or assume responsibility to in order to provide us with sufficient evidence to give
anyone other than the charity and the charity’s trustees as a reasonable assurance that the financial statements are free
body, for our audit work, for this report, or for the opinions we from material misstatement, whether caused by fraud or other
have formed. irregularity or error. In forming our opinion we also evaluated
the overall adequacy of the presentation of information in the
financial statements.
Respective responsibilities of trustees
and auditors
The trustees’ responsibilities for preparing the Annual Report
Opinion
and the financial statements in accordance with applicable law In our opinion the financial statements give a true and fair
and United Kingdom Accounting Standards (United Kingdom view, in accordance with United Kingdom Generally Accepted
Generally Accepted Accounting Practice) are set out in the Accounting Practice of the state of the charity’s affairs as at
Statement of Trustees’ Responsibilities. 31 December 2007 and of its incoming resources and
application of resources in the year then ended and have been
We have been from as auditors under section 43 of the
properly prepared in accordance with the Charities Act 1993.
Charities Act 1993 and report in accordance with regulations
made under section 44 of that Act. Our responsibility is to audit
the financial statements in accordance with relevant legal
and regulatory requirements and International Standards on
Auditing (UK and Ireland).
We report to you our opinion as to whether the financial
statements give a true and fair view and are properly prepared
BAKER TILLY UK AUDIT LLP
in accordance with the Charities Act 1993. We also report
Registered Auditor
to you if, in our opinion, the Annual Report is not consistent
Chartered Accountants
with the financial statements, if the charity has not kept
1st Floor, 46 Clarendon Road
proper accounting records, or if we have not received all the
Watford, Herts WD17 1JJ
information and explanations we require for our audit.
15 May 2008
We read other information contained in the Annual Report,
and consider whether it is consistent with the audited financial
statements. This other information comprises only the
Trustees’ Report. We consider the implications for our report
if we become aware of any apparent misstatements or
material inconsistencies with the financial statements.
Our responsibilities do not extend to any other information.
World Association of Girl Guides and Girl Scouts Registered Charity No. 306125 17
Statement of Financial
Activities for the year ended 31 December 2007
INCOMING RESOURCES
Voluntary income 2 846 193 153 1,192 1,188
Investment income 2 375 – – 375 323
Incoming resources from generated funds 1,221 193 153 1,567 1,511
Incoming resources from charitable activities 3 3,236 661 – 3,897 3,544
RESOURCES EXPENDED
Cost of generating voluntary income 4 243 – – 243 193
Investment management costs 4 13 – 41 54 51
NET INCOME/(EXPENDITURE)
before transfers and other gains & losses (187) 189 76 78 145
Notes
2007 2006
£’000 £’000
FIXED ASSETS
Tangible Assets 7 3,924 4,006
Investments 8 8,069 7,118
2,493 3,208
UNRESTRICTED
General Funds 13 2,232 2,448
Designated 13 1,446 1,320
World Association of Girl Guides and Girl Scouts Annual Review 2007
Total Unrestricted 3,678 3,768
Approved and authorised for issue by the Board of Trustees on 15 May 2008 and signed on its behalf by
World Association of Girl Guides and Girl Scouts Registered Charity No. 306125 19
Cash Flow
Statement for the year ended 31 December 2007
Notes
2007 2006
£’000 £’000
Endowment Fund - this is an expendable endowment fund • Investment income, primarily from dividends and interest,
established by a resolution of the World Conference in 1999. is included gross and accounted for when receivable.
Its aim is to provide a fund, the income of which can be used
to safeguard the continuing development, promotion and • Charitable trading income includes the sale of publications,
expansion of WAGGGS. uniform and other items purely for charitable purposes by
the World Bureau.
General Funds - these are funds which are available for
use at the discretion of the World Board in the furtherance • World Centres Operating Income consists primarily of
of WAGGGS’ Object. receipts for board and lodging. This is accounted for on an
accruals basis.
Designated Funds - these funds have been set aside out
of General funds, at the discretion of the World Board, for • Donated services, where
World Association material,
of Girl Guides andmeasurable and readily
Girl Scouts Annual Review 2007
specific purposes. The Finance Committee reviews the status identifiable are included at the value of the service received
and adequacy of the individual designated funds in relation by the charity.
to the achievement of WAGGGS’ Strategic Goals and the need to
provide for activities which are held at different stages of
sthe Triennium.
World Association of Girl Guides and Girl Scouts Registered Charity No. 306125 21
Notes to the
accounts for the year ended 31 December 2007 continued
activities on the basis noted above. Activities include: • Office equipment other than computers – 5 years
• Operational Support Services represent the central costs • Computer equipment – 3 years
not directly attributable to WAGGGS’ goals but are in
support of WAGGGS’ charitable activities. Further details of • Database management system – 5 years
items included in operational support are included in the
All tangible fixed assets are capitalised subject to a cost
notes to the financial statements.
threshold of £1,000.
• Governance costs include the direct costs of the
*Where the length of the lease is in excess of 50 years an
administration of WAGGGS and compliance with
impairment review is carried out each year to ensure fixed
constitutional and statutory requirements including an
assets are not overvalued.
appropriate share of support costs. These costs include
audit, legal advice for trustees and costs associated with
Board meetings, the governance element of the World
Conference and the preparation of the statutory accounts. 1.7 Investments
• Triennial Expenditure The cost of the World Conference and Investments listed on a recognized stock exchange are stated
Regional Conferences which take place on a triennial basis, at market value. Unrealized gains and losses arising from
are met from designated funds built up by annual transfers the revaluation of the investment portfolio are shown in the
from General Funds. appropriate section of the Statement of Financial Activities.
Voluntary Income
Donations 37 – – 37 120
World Thinking Day 177 – – 177 234
Olave Baden-Powell Society 108 – 153 261 272
Regions 286 – – 286 316
World Centres 238 193 – 431 246
World Association of Girl Guides and Girl Scouts Registered Charity No. 306125 23
Notes to the
accounts for the year ended 31 December 2007 continued
Charitable Activities
Goal 1 – Leadership
Supporting and working with Member Organizations 167 68 – 235 233
Workshops/Seminars and Training 130 – – 130 127
World Conference 30 – – 30 12
Triennial Theme and Publications 9 – – 9 1
Supporting and working with Regions 7 – – 7 8
Regional Conferences 67 – – 67 5
World Centres - Operating Costs 807 67 – 874 681
Supporting and working with World Centres 103 – – 103 92
Promoting WAGGGS 41 – – 41 45
Goal 2 – Membership
Supporting and working with Member Organizations 378 393 – 771 1,100
Workshops/Seminars and Training 139 – – 139 158
World Conference 29 – – 29 12
Supporting and working with Regions 35 – – 35 23
Regional Conferences 20 – – 20 -
World Centres - Operating Costs 346 41 – 387 279
Supporting and working with World Centres 47 – – 47 45
Promoting WAGGGS 112 – – 112 87
Charitable Trading 21 – – 21 23
Goal 3 – Advocacy
Supporting and working with Member Organizations 133 55 – 188 121
Workshops/Seminars and Training 18 – – 18 23
World Conference 10 – – 10 12
Triennial Theme and Publications – – – – –
Supporting and working with Regions 7 – – 7 5
Regional Conferences 39 – – 39 4
World Centres - Operating Costs 461 27 – 488 396
Supporting and working with World Centres 62 – – 62 55
Promoting WAGGGS 109 – – 109 89
Governance
World Board and Committees 48 – – 48 37
World Conference 25 – – 25 10
Statutory Costs 116 – – 116 84
Strategic Direction 2 – – 2 2
Support costs not directly attributable to the charitable activities, generating funds and governance, have been allocated to each of the
categories shown below on the basis of estimated time and number of staff employed during the year on each of the relevant activities.
World Association of Girl Guides and Girl Scouts Registered Charity No. 306125 25
Notes to the
accounts for the year ended 31 December 2007 continued
The support costs shown above comprise the cost of management time in overseeing these activities, office costs cover the cost
of the World Bureau and the Europe Office including maintenance and running of the offices, personnel costs include staff training and
other central staff related expenses and IT and communication costs include all general IT support and other communication costs.
Number
World Bureau 46 47
World Centres 46 46
Total 92 93
2007 2006
The number of employees whose emoluments as defined for taxation purposes Number
amounted to over £60,000
£80,001 - £90,000 1 –
£70,001 - £80,000 – 1
£60,001 - £70,000 3 –
Pension contributions of £22K were paid in 2007 (2006:£5K) to employees earning more than £60,000 within the year.
The trustees did not receive any remuneration or benefits in kind, other than the reimbursement of expenses. During the year
17 (2006:17) trustees were reimbursed for travelling and accommodation expense incurred on the Association’s business which
amounted to £43K (2006:£35K).
Auditors’ Remuneration
Audit fees payable for the year ended 31 December 2007 were £33K (2006: £35K). No fees were payable for non audit work in the
year (2006: nil).
World Association of Girl Guides and Girl Scouts Registered Charity No. 306125 27
Notes to the
accounts for the year ended 31 December 2007 continued
Outstanding quota payable by Member Organizations of £108K (2006: £96K) is included within general debtors. The World Board
has agreed rescheduled payment schemes with some Member Organizations in respect of their outstanding quota.
World Association of Girl Guides and Girl Scouts Registered Charity No. 306125 29
Notes to the
accounts for the year ended 31 December 2007 continued
11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Total Total
2007 2006
£’000 £’000
Employees’ salaries provision reserve represents monies set aside in lieu of pension contributions for employees who are not
European Union nationals, and which will be paid to them on termination of employment.
Deferred income relates to potentially refundable income received for future events.
World Bureau
Property 1,753 – (14) – 1,739
Goal 1 – Leadership 94 68 (68) – 94
Goal 2 – Membership 56 47 (22) – 81
Goal 3 – Advocacy 13 42 (55) – –
UPS Signature Programme 7 422 (334) – 95
Tsunami and other disaster funds 37 9 (37) – 9
World Conference and other travel grants – 67 – – 67
Other Donations 11 6 – – 17
Europe Region 14 – – (14) –
1,985 661 (530) (14) 2,102
World Centres
Pax Lodge – Property 1,891 – (18) – 1,873
Pax Lodge – Other donations 41 20 (7) (36) 18
Our Cabaña – Property 359 – (9) – 350
Our Cabaña – Other donations 20 60 (37) – 43
Our Chalet 118 32 (18) – 132
Sangam 54 88 (46) – 96
2,483 200 (135) (36) 2,512
Designated Funds - comprise of the following funds which have been set aside to cover specific costs.
The purpose of each fund can be found on page 32.
The transfer of funds from Restricted to Unrestricted of £36K in the year relates to expenditure which has been supported
by restricted donations. The reclassification of opening balances of £14K between Restricted and Designated Funds within
the Europe Region is due to grant classification which has been clarified in 2007.
World Association of Girl Guides and Girl Scouts Registered Charity No. 306125 31
Notes to the
accounts for the year ended 31 December 2007 continued
The prime purpose of the Restricted and Designated funds shown on pages 30 and 31 and the estimated timeframe in which these
funds are expected to be utilised are shown below.
Restricted Funds
Property To be used for the up keep of the World Bureau. Over the period of the remaining lease
Goal 1 – Leadership Primarily for workshops, seminars and training. Within 1 to 2 years
Goal 2 – Membership Primarily for workshops, seminars and training. Within 1 to 2 years
Goal 3 – Advocacy Primarily for workshops, seminars and training. Within 1 to 2 years
UPS Signature Programme Major project on volunteerism. Within 1 year
Tsunami and other disaster funds Specific funds to aid disaster areas. Within 1 year
Other Donations Includes an amount to deal with emergencies Within 1 to 2 years
and other strategic related issues not specifically
in relation to Goals.
World Centres
Pax Lodge and Our Cabaña - Property To be used for the up keep of the Centres. Over the period of the remaining
lease or life of the property
World Centres other Restricted funds Primarily for the provision of scholarships and Between 1 and 3 years
support for training events held the Centres.
Designated Funds
Conferences and Roundtables These funds cover events such as World and Between 1 and 3 years
Regional Conferences which may take place only
once in the triennium and the fund is built up
evenly over the triennium for use in the triennium.
Regional Funds These are funds given to support WAGGGS activities Between 1 and 3 years
and have been allocated to specific regions to use
within the region.
Property Maintenance Funds set aside for major maintenance of the Between 1 and 5 years
World Bureau and World Centres.
Specific Goal related activities Funds set aside for approved activities within the Within 2 years
Strategic plan which span more than one year.
IT enhancement Provision to upgrade IT equipment etc. Within 1 to 2 years
World Association of Girl Guides and Girl Scouts Registered Charity No. 306125 33