The first recorded Preston Guild was in 1379, when the ever growing numbers of merchants, traders and craftsmen agreed to form a guild so that people buying and trading goods could be sure of their worth and integrity.

A guild court was held to admit people to this guild. Once admitted, individuals became a burgess and a registered member of the Guild Merchant. Only a burgess had the right to sell and trade their goods.

The guild was very popular and helped Preston grow and become more prosperous. In 1682 there were 2,600 burgesses registered and there are still more than 2,000 burgesses recorded to this day.

To refresh and renew the guild, to ensure the rights of burgesses could be passed down to the next generation, a guild court was held every 20 years - a tradition which is still in place today. In fact, only the Second World War has interrupted Preston Guild, when there was a 30 year gap between the 1922 and1952 celebrations.

The week-long guild court is central to the celebrations and still admits burgesses. Now, only the son or daughter of an existing burgess can be admitted to the court, although the Guild Mayor - the mayor during a guild year - can admit a small number of people to become burgesses by way of a gift.

The success of the guild and the growing influence of the burgesses laid the foundations for a more civilised and settled community and Preston's historic and current economic success can be traced back to this.