I have pleasure in presenting my report and accounts of the Central Fund for the year ended 31st December 2025. There are some significant changes between this year’s accounts and previous years.
The independent examination found that a mismatch between accounting practices used in different Guild accounts when dealing with subscriptions has resulted in Guild Central Fund accounts incorrectly representing the total financial assets of the Guild in recent years. Subscriptions due from districts to the General Fund at the yearend have been omitted from both the District and General Fund balances in recent years. They are now included in the Central Fund balance.
There are two lesser changes. The Peal Recorder’s bank account has been closed and subsequent payments of peal fees have been made directly into the General Fund, so peal fees are now taken into the accounts in the year in which the fee is paid rather than the year the peal was rung. The corresponding payments to the BRF are also taken when they are paid. Finally, the nominal £1 value of the Guild simulator has been written off as it is understood that this is no longer available.
2024 accounts have been recalculated to give a comparison and updated 2024 accounts are included with this report. Taking the revised 2024 figures gives an increase of £6,380.60 in the Central and Reserve Fund sub-total of £16,519.35 as previously calculated and printed in the 2024 Report. It also gives an increase of £6,848.40 in the 2024 overall total financial assets over the printed £45,085.18.
The total assets calculated by the revised approach are shown below, with revised 2024 figures for comparison.
| 2025 | 2024 (revised) | |||
| Central Fund: | ||||
| General Fund | 14,288.49 | 14,595.42 | ||
| Training and Development Fund | 49.81 | 49.81 | ||
| Central Reserve Fund (TSB business account) | 8,561.68 | 8,435.12 | ||
| Sub-total | 22,899.95 | 23,080.35 | ||
| Districts | 27,156.03 | 26,669.62 | ||
| Sub-Committees | 1,877.57 | 1,896.01 | ||
| Total assets | £51,933.58 | £51,646.18 | ||
The surplus from the clothing sales, kindly organised again by Christine Knights-Whittome, was held over and paid out in 2026 for the benefit of the Vectis Youth ringers.
The assets held centrally by the Guild (Central Fund and Central Reserve Fund) decreased by £230.40 between 2024 and 2025, while the financial total, including money held by the Districts, increased by £315.60. There were no transfers in or out of the Reserve Fund, but the interest received increased marginally. Contributors to the reduction in assets included an increase in insurance premium, contributions towards training and the increase in CCCBR subscription (which increased again in 2026). The small reduction in assets is not believed to be a concern and balances held are considered to be sufficient for foreseeable needs.
Income levels received by the Guild in 2025, from subscriptions paid to Districts in 2024, are shown in the table below, with comparable figures for income received by the Guild in 2024.
| 2025 | 2024 | |
| Alton & Petersfield | 943.50 | 1,075.90 |
| Andover | 709.20 | 688.10 |
| Basingstoke | 1,018.20 | 1,092.35 |
| Christchurch & Southampton | 997.80 | 1,142.05 |
| Isle of Wight | 564.90 | 641.55 |
| Portsmouth | 1,092.30 | 1,255.10 |
| Winchester | 1,235.10 | 1,338.05 |
| £6,561.00 | £7,233.10 | |
R Milford
21st March 2025