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2024-09-30-accounts

`Charity Registration No. 1010437

Company Registration No. 02658417 (England and Wales)

THE HAMPSHIRE COUNTY FEDERATION OF WOMEN’S INSTITUTES

(A COMPANY LIMITED BY GUARANTEE)

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

THE HAMPSHIRE COUNTY FEDERATION OF WOMEN’S INSTITUTES

CONTENTS

Page
Report of the Board of Trustees 1 to 8
Independent examiner’s report 9
Statement of financial activities 10
Balance sheet 11 to 12
Notes to the financial statements 13 to 23

THE HAMPSHIRE COUNTY FEDERATION OF WOMEN’S INSTITUTES TRUSTEES’ REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2024

The Board of Trustees presents its report with the statutory financial statements of the charitable company for the year ended 30 September 2024.

Reference and administrative details

Trustees

Trustees
A Brice (elected 20 March 2024)
D Calcraft
J Carver (Vice Chair)
H Carter (resigned 20 March 2024)
P Clark (elected 20 March 2024)
S Crump
B George
A Golt
C Johns (elected 20 March 2024)
B Kearns (resigned 20 March 2024)
K Kemp (Chair)
M Morgan (elected 20 March 2024)
R Neudegg (Vice Chair)
G Pussard (Treasurer)
D Smythe-Wright (resigned 20 March 2024)
C Winter
V Wretham
Secretary C Willis
Charity number 1010437
Company number 02658417
Registered office WI House
22/24 Station Hill, Southampton Road
Eastleigh Hampshire
SO50 9XB
Independent examiner CBM Accountants Ltd
130 Bournemouth Road
Chandler’s Ford
Eastleigh
Hampshire
SO53 3AL
Bankers Lloyds Bank Plc
49 High Street
Winchester
Hampshire
SO23 9BU

Page 1

THE HAMPSHIRE COUNTY FEDERATION OF WOMEN’S INSTITUTES TRUSTEES’ REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2024

INTRODUCTION

The trustees of the Hampshire County Federation of Women’s Institutes (“HCFWI”), who are also directors of the charitable company for the purposes of the Companies Acts, present their Annual Report and financial statement for the year ended September 2024. The trustees Annual Report incorporates the strategic report as required under company law.

The trustees confirm that the Annual Report and financial statements comply with the Companies Act 2006 and the Charities Act 2011, the Charity’s Articles of Association and the provisions of the Statement of Recommended Practice (SORP), 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 2015) as amended by Update Bulletin 1 (effective 1 January 2015).

HCFWI is a registered charity (No. 1010437) and a company (No.02658417) limited by guarantee incorporated on 29 October 1991. Its registered office is shown on page 1 of this report.

The present trustees and any past trustees who served during the year are shown on page 1, together with the names of the principal external advisers as at the date of the signing of this report.

OBJECTIVES AND ACTIVITIES

HCFWI is a county Federation of the national movement of Women’s Institutes (WI), as a member of the National Federation of WIs (“NFWI”). The main purpose of the WI is to “advance the education of women and girls for the public benefit”. HCFWI’s purpose, as set out in the objects clause contained in its articles of association is “To further the purposes of the Women’s Institute movement in Hampshire and elsewhere.”

The WI provides women with educational opportunities, the chance to learn new skills, opportunities to widen their horizons and together influence local, national and international affairs by campaigning on issues that matter to them and their communities. It is non-sectarian, non-party political and is open to all women. The WI enables all women to make a difference to the life they lead, to the community they are part of, and to the world they live in.

The HCFWI represents the WI movement in Hampshire consisting of 180 WIs with over 7700 members as at 30th September 2024. Each WI is a separately constituted charity that prepares its own accounts.

HCFWI’s vision and mission is:

Trustees drive this vision forward under the tagline Accountable, Responsible, Accessible ensuring they are accountable to members; responsible for using resources effectively; and accessible to all. To ensure the charity’s purpose is met, trustees annually review the aims, objectives, activities and vision of HCFWI as part of monitoring, or developing, the two-year strategy. When carrying out the review and planning future activities, the trustees refer to the guidance contained in the Charity Commission's general guidance on public benefit. This review ensures the charity meets its objectives and fulfils its

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THE HAMPSHIRE COUNTY FEDERATION OF WOMEN’S INSTITUTES TRUSTEES’ REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2024

vision.

This year trustees reviewed the previous strategy and published the 2024 – 2026 strategic plan in March 2024. The 2024-2026 strategic plan is divided into strategic goals for Income and Resources, Communications, WI House (HCFWI headquarters), and Membership. This report is based on our vision and strategic goals.

ACHIEVEMENT AND PERFORMANCE

HCFWI continues to make a difference to its members by providing educational opportunities across a range of subjects that provide life-long learning. The trustees are mindful to ensure that activities are inclusive, affordable and accessible whilst providing added value for WIs members and in line with our charitable objectives and vision for the Federation.

Fun and Friendship

Competitions Our members are keen to take part in competitions throughout the year. Both the Federation Quiz and calendar photography competition remain popular. The WI tent at the Hampshire and New Forest County Show continues to be popular, with over 6,000 visitors to the tent this year and over 600 competition entries where members demonstrated their skills in cakes (culinary skills) crafts, art, flower arranging, photography, papercraft and many other subjects.

Promotion We continue to promote our work on social media and through attendance at local shows, (such as Alresford, Romsey, and Hampshire and New Forest Shows and attendance at the Winchester Christmas Market. Additionally, funds continue to be used to make improvements to the charity’s website, which was launched in October 2023, ensuring information available to the public is current and is a way of promoting the work of the charity and Hampshire WIs.

Resolutions HCFWI supported members campaigning for Clean Rivers, and organised events to improve awareness and educate members about Domestic Abuse in Rural Areas, and ADHD in Women. All three NFWI campaigns are important to our members. We continue to support members in developing their own submissions for future campaigns.

Events Members from across Hampshire have attended events together, sometimes forging friendships with neighbouring Federations. These events have included: guided tours (Gilbert White House, Chichester Festival Theatre, Chithurst Buddhist Monastery), art and craft sessions to learn or advance skills (willow weaving, patchwork, glass fusing and photography), inspirational women (Snag Tights CEO, Great Scottish Tapestry, ACWW), cookery demonstrations (pasta demonstration, knife skills), campaigning (Mikron Theatre: Common Ground: An hill-arious ramble through the history of land access in England ), NFWI campaigns: ADHD, Stop Violence against women, Clean Rivers), competition tips (Judges Eye view), our annual holiday (Harrogate) and opportunities to socialise and meet members virtually and in-person (Eco-Balloon Race for WI Day, John Lewis Festive Evening, Speaker Selection Days). Attendance for events has varied across the year, with some events being cancelled due to low uptake of tickets. Trustees will continue to consider the types of events that can be provided ensuring they add value for members whilst meeting our objectives.

Forward Thinking

Training and Support HCFWI have continued to support WI Officers in the running of their WIs, by providing training in February (end of year processes), July (introduction and update), and September (Office365). Additionally, one-to-one training was provided for Office 365, MCS (the NFWI membership database), and drop-in sessions to help resolve a range of challenges and increase confidence in their roles. To further support WI Treasurers, a role that is often difficult to fill, HCFWI are trialling two

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THE HAMPSHIRE COUNTY FEDERATION OF WOMEN’S INSTITUTES TRUSTEES’ REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2024

processes: one is to provide bookkeeping for WIs via the HCFWI finance office, and the second providing access to Xero to those Treasurers wanting to adopt a fully electronic finance management for their WI.

Communications HCFWI communicates with members and publicly about our work via social media, email and a monthly magazine. The magazine, Hampshire WI News , continues to be supported by members, and Trustees decided a redesign was required. With the support of the magazine Editor, staff, and the communications team the magazine was reviewed and both style and approach to content were updated in August. The revisions are proving popular with more engagement from members to publish articles promoting their own WI, discussing WI campaigns, or sharing experiences that support other women.

Annual Meeting To ensure the annual meeting provided members with a better experience a decision was taken to hold the meeting in Winchester Guildhall, a smaller venue, and provide a streaming option to allow for virtual attendance. The meeting was a sell out with c.500 members attending in person (including delegates) and a small number attending virtually. Trustees continue to review the format and options for the 2025 annual meeting, and we hope that virtual attendance will increase in future years, but trustees will continue to evaluate the viability of this option.

WI House Trustees are mindful of the cost of owning and running a property, where 3 members of staff are based with room for board meetings, and events to take place. As part of the 2024-2026 strategy, trustees considered how the property is used. Trustees decided to renovate the downstairs making a welcoming members’ space that could be used by all HCFWI members either informally or for events. During this reporting year the space has been organised, and funds spent to update the furniture and decoration. This work is progressing well and over the next reporting year 2024/25 trustees plan to promote this space to increase usage of the property for the benefit of its members.

FINANCIAL ACTIVITIES AND RESULTS

The main sources of income are the Charity’s portion of membership subscriptions, fees for educational courses, which are expected to be self-financing where possible, and fundraising activities.

A change of venue to Winchester Guildhall saw our Spring Council Meeting, incorporating our Annual General Meeting, in March 2024 again held in person but with the opportunity for members to be able to watch online. We continued to offer a mixture of online and in-person events throughout the year. Membership subscriptions saw an increase on the previous year reflecting better credit control and the work of Independent Financial Examiners to identify monies due to the Charity, We were pleasantly surprised to receive a very generous legacy of £5k and grateful for the work to submit Gift Aid claims for 2 prior years of £4.5. The continued relatively high Bank of England base rate has proved beneficial for the Charity with Investment income higher than last year by £4k. The overall income, at £222,131 (2023: £192,970), was higher than last year’s income.

Whilst we continue to review all expenditure items to ensure value for money, the Charity is not immune from the inflationary effects felt by all. Thus, both the cost of generating funds and the cost of our charitable activities have increased. Overall expenditure therefore at £208,576 (2023: £181,974) was above last year’s.

The net effect was to produce a surplus of £13,555 (2023: surplus £10,996) before realised and unrealised gains.

Our investments in COIF resulted in an unrealised gain of £12,249 (2023: Unrealised gain £1,674).

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THE HAMPSHIRE COUNTY FEDERATION OF WOMEN’S INSTITUTES TRUSTEES’ REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2024

The overall result was a surplus of £25,804 (2023: surplus £12,670).

RESERVES

The Trustees reserves policy is to ensure that sufficient free reserves are maintained such that the overhead cost of running and maintaining WI house including rates, insurance, depreciation and salaries are covered for at least a year. The Trustees also seek to ensure that funds held for bursaries and other funds should grow such that the value of these funds maintain their value in real terms.

The Charity has total reserves of £1,270,157 (2023: £1,244,353). Restricted funds, however, account for £815,123 (2023: £822,770) whilst total designated funds amount to £331,994 (2023: £315,477).

The details and description of all restricted and designated funds are shown in Note 16 of the accounts. The value of general reserves stands at £123,040 (2023: £106,106) and total designated funds £331,994 (2023: £315,477). The result is that the calculated value of the total general reserves has decreased to cover 19 months (2023: 22 months).

RISK MANAGEMENT

The charity’s approach to risk management is designed to ensure that it remains alert to those external and internal factors that could affect its ability to operate effectively, or even at all. Trustees review the risk register regularly to ensure suitable mitigating action is being taken, and discuss risks, when necessary, at board meetings. The trustees feel their risk management schedule is as complete as possible whilst being aware that vigilance is always needed.

STRUCTURE, GOVERNANCE AND MANAGEMENT

HCFWI is governed by its Articles of Association adopted on 29 October 1991 as amended by Special Resolutions passed on 28 March 2001, 6 June 2002, 19 June 2004 and 23 March 2021. The Board of Trustees is responsible for the overall governance of the charity and in accordance with the charity’s constitution will meet at least five times a year.

Trustee Selection, Induction and Appraisal

The trustees are elected biennially from WI members nominated by their WI. The trustees undertake an annual skills review to ensure their skills and experiences meet the needs of the charity. Where additional expertise is identified as being needed, the trustees will seek to co-opt additional trustees with those skills and/or experience. Induction training is provided to all new trustees whether elected or co-opted. Trustee training is also available from NFWI via the WI Learning Hub, including a mandatory course that must be completed within 3 months of appointment. Other courses to support personal development are also available and attendance is encouraged. Trustees are also signposted to the Charity Commission website and other online leadership and trustee training, e.g. Open University. Where required the trustees as a group will undertake training to improve the effectiveness of the board.

Organisational Structure and wider network

HCFWI is a Federation of the NFWI, as explained on page 2. HCFWI is structured as outlined in Figure 1. To ensure the Board works effectively this year a trustee has been appointed to coordinate the work of the areas listed in Figure 2, with all areas reporting at the Board of Trustees meetings.

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THE HAMPSHIRE COUNTY FEDERATION OF WOMEN’S INSTITUTES TRUSTEES’ REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2024

Working groups are also formed for specific projects or events, such as the annual meeting, or website development. The teams and working groups are made of volunteers, including Trustees, WI Advisers, ex-trustees and WI members. These are supported by three members of staff: an office manager, an administrator, and a finance officer. All three members of staff work part-time but ensure WI House is open to members 4 days a week.

The charity works with neighbouring Federations via inter-Federation events, engages with Federations nationally via the NFWI National Council, and interacts with NFWI in relation to constitutional developments, membership matters, and to gain legal or HR support as necessary. HCFWI interacts daily with WIs across Hampshire to provide support and advice, in particular WI Officers but also all WI members.

Statement of Trustees’ Responsibilities

The Trustees (who are also directors of the Charity for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the

Page 6

THE HAMPSHIRE COUNTY FEDERATION OF WOMEN’S INSTITUTES TRUSTEES’ REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2024

prevention and detection of fraud and other irregularities.

Matters Reserved to the Trustees

The following matters are specifically reserved for approval by the Trustees:

Investment Powers, Policy and Performance

The Articles of Association of the Charity state that it has the power “to deposit or invest funds in any manner as the Trustees shall in their absolute discretion think fit to the extent that the Trustees shall have the same full and unrestricted powers of investing and transposing investments in all respects as if they were beneficially absolute owners…”.

The Trustees are content with the returns being earned on our COIF investments but may consider diversifying into other investments to maximise the return being obtained whilst mitigating the risk.

FUTURE PLANS & DEVELOPMENTS

HCFWI‘s vision to be forward thinking ensures we consider ways to improve the ways in which we support WI members in Hampshire and modernise the WI to ensure it continues to thrive across the county. As part of monitoring progress against the 2024-2026 strategy trustees have agreed to focus

Page 7

THE HAMPSHIRE COUNTY FEDERATION OF WOMEN’S INSTITUTES TRUSTEES’ REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2024

on the following areas of development for the coming year:

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

By order of the Board of Trustees

Date: 27 January 2025

Dr Katrina Kemp Chairman

Page 8

THE HAMPSHIRE COUNTY FEDERATION OF WOMEN’S INSTITUTES INDEPENDENT EXAMINER’S REPORT

TO THE TRUSTEES OF THE HAMPSHIRE COUNTY FEDERATION OF WOMEN’S INSTITUTES

I report on the accounts of the company for the year ended 30 September 2024 which are set out on pages 9 to 22.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

Basis of independent examiner's report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

have not been met; or

Graham Bennett 130 Bournemouth Road Independent Examiner Chandlers Ford CBM Accountants Limited Eastleigh SO53 3AL Date

Page 9

THE HAMPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 SEPTEMBER 2024

Donations and legacies
Income from charitable activities
3
Other trading activities:
Fundraising activities
Voluntary income
4
Income from investments
Total income
Expenditure
Cost raising funds
5
Cost of charitable activities
6
Total expenditure
Net income/(expenditure)
Transfers between funds
Net income/(expenditure) before other
recognised gains and losses
Other recognised gains/(losses)
Gains/(losses) on investments
Net movement in funds for the year
Total funds brought forward at 1 October 2023
Total funds carried forward at 30 September 2024		 Restricted
funds
£
Unrestricted
funds
£
Total
2024
£
-
-
-
1,343
179,512
180,855
-
14,631
14,631
-
9,760
9,760
1,391
15,494
16,885
2,734
219,397
222,131
-
16,930
16,930
2,159
189,487
191,646
2,159
206,417
208,576
575
12,980
13,555
(9,230)
9,230
-
(8,655)
22,210
13,555
1,008
11,241
12,249
(7,647)
33,451
25,804
822,770
421,583
1,244,353
815,123
455,034
1,270,157		 Page 10
Restricted
funds
£
Unrestricted
funds
£
Total
2023
£
-
-
-
1,773
164,539
166,312
-
12,925
12,925
251
1,232
1,483
1,135
11,115
12,250
3,159
189,811
192,970
-
14,863
14,863
-
167,111
167,111
-
181,974
181,974
3,159
7,837
10,996
(12,744)
12,744
-
(9,585)
20,581
10,996
-
1,674
1,674
(9,585)
22,255
12,670
832,355
399,328
1,231,683
822,770
421,583
1,244,353

THE HAMPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES BALANCE SHEET

AS AT 30 SEPTEMBER 2024

Fixed assets
Notes
Tangible assets
11
Investments
12
Current assets
Stocks
13
Debtors and prepayments
14
Cash at bank and in hand
Creditors: amounts falling due
within one year
15
Net current assets
Total assets less current liabilities
Represented by:
Restricted funds
16
Designated funds
Functional fixed assets reserve
16
Investment revaluation reserve
16
Other designated funds
16
General funds
16
Total funds
16		 2024
£
£
784,854
374,607
1,159,461
296
1,674
203,230
205,200
(94,504)
110,696
1,270,157
815,123
17,929
74,010
240,055
331,994
123,040
1,270,157		 2024
£
£
784,854
374,607
1,159,461
296
1,674
203,230
205,200
(94,504)
110,696
1,270,157
815,123
17,929
74,010
240,055
331,994
123,040
1,270,157		 2023
£
£
800,982
350,662
1,151,644
393
(2,688)
184,492
182,197
(89,488)
92,709
1,244,353
822,770
25,078
61,761
228,638
315,477
106,106
1,244,353		 2023
£
£
800,982
350,662
1,151,644
393
(2,688)
184,492
182,197
(89,488)
92,709
1,244,353
822,770
25,078
61,761
228,638
315,477
106,106
1,244,353
296
1,674
203,230		 393
(2,688)
184,492
205,200
(94,504)		 182,197
(89,488)
17,929
74,010
240,055		 25,078
61,761
228,638
1,270,157 1,244,353
815,123
331,994
123,040		 822,770
315,477
106,106
1,270,157 1,244,353

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THE HAMPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES BALANCE SHEET

AS AT 30 SEPTEMBER 2024

These financial statements have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102.

For the year ending 30 September 2024 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

Directors’ responsibilities:

ensuring the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

preparing the financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of Companies Act 2006 relating to financial statements, so far as applicable to the charitable company

Approved by the board of trustees on 27 January 2025.

Dr Katrina Kemp

Chairman

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THE HAMPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

1 Limitation of members’ liability

The members of the charitable company are delegates appointed by each Women’s Institute constituted in Hampshire.

Every member of the Charity has undertaken to contribute to the assets of the charitable company if it is wound up during the period that she is a member, or within one year afterwards, for payment of the debts and liabilities of the charitable company contracted before the time at which she ceases to be a member and of the costs, charges and expenses of winding up the charitable company and for the adjustment of the rights of the contributories among themselves, such an amount as may be required not exceeding £1.

2 Accounting policies

The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the financial statements.

a) Basis of preparation of financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS102, 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 2015)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland ‘ and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

In preparing these accounts, the Trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required. No restatements were required.

b) Income

All income is included in the Statement of Financial Activities when the Charity is legally entitled to the income and the amount can be measured reliably.

Donations, gifts and legacies are included in full in the accounts when receivable. The membership year previously ran from January to December but was extended by 3 months because of Covid-19 in 2020 and the subscription year now runs from April to March. In view of this membership fees received in April through September are apportioned between the old financial year and the next financial year. Income for events after the balance sheet date is included in deferred income. The Charity is not registered for VAT and all income is stated at amounts receivable.

c) Expenditure

All expenditure is accounted for on an accruals basis, when a liability is incurred, and includes VAT where applicable. Expenditure is allocated to the following cost categories:

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THE HAMPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. Accounting policies (continued)

d) Expenditure (continued)

Staff and office costs cannot be directly attributed to these particular headings so are allocated on an estimated basis, based on staff time, as follows:

Raising funds
Charitable activities
Governance		 2024
2023
10%
10%
75%
75%
15%
15%
100%
100%

e) Pension

Contributions are included when payments are due to the employees’ defined contribution scheme.

f) Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Assets which cost less than £500 are not capitalised.

g) Depreciation

Depreciation has been computed to write off the cost of tangible fixed assets over their expected useful lives using the following rates:

Freehold land & buildings - 2% per annum straight line Computer equipment - 33 1/3% per annum straight line Other office equipment - 10-30% per annum straight line

h) Investments

Investments are stated at market value in the balance sheet. Gains and losses on investments, both realised and unrealised, are included in the Statement of Financial Activities.

i) Stocks

Stocks have been valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

j) Funds

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The cost of raising and administering such funds is charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in note 16.

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objects of the Charity.

k) Debtors

Trade debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid.

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THE HAMPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. Accounting policies (continued)

l) Creditors and provisions

Creditors and provisions are recognised where the charitable company 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 and provisions are normally recognised at their settlement amount.

m) Financial instruments

The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement.

.

3
Income from charitable activities
Membership fees
General activities
Miscellaneous
4.
Voluntary income
Donations
Gift Aid
Grants
5.
Cost of Generation Funds
Income generation activities
Trading post, diaries and calendars
Staff Costs Apportioned
Office Costs Apportioned		 2024
2023
£
£
83,481
79,294
97,374
87,018
-
-
180,855
166,312
2024
2023
£
£
5,165
1,483
4,595
-
-
-
9,760
1,483
2024
2023
£
£
1,964
1,020
4,597
4,880
5,240
4,670
5,129
4,293
16,930
14,863

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THE HAMPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.
Costs of charitable activities
Board of Trustees’ activities
Sub-committee events
Federation magazine & Talking News
Yearbook
Bursaries
Donations
ACWW Triennial Conference
AGM - Accommodation
AGM – Observer tickets
AGM - Travel
Governance Costs see Note 7
National Federation: Pooling of fares
Staff Costs Apportioned
Office Costs Apportioned
7. Governance Costs
Professional fees
Trustees’ meetings
Licences
Staff Costs Apportioned
Office costs apportioned		 2024
2023
£
£
77,109
73,794
(252)
3,155
-
-
282
(82)
6,750
356
100
-
2,159
-
-
-
1,512
460
656
96
25,538
22,111
32
-
39,299
35,031
38,461
32,190
191,646
167,111
2024
2023
£
£
4,470
3,582
5,446
5,011
70
72
7,860
7,007
7,692
6,439
25,538
22,111

Professional fees include £4,500 inclusive of VAT (2023: £3,960 inclusive of VAT) for accountancy services in connection with the preparation of the statutory financial statements and independent examination thereof.

8. Trustees

14 trustees (2023: 15) received expenses during the period in respect of travel, parking, accommodation, telephone and postage costs, totalling £4,514 (2023: £4,029).

No remuneration was paid to any trustee during the current year or the preceding year.

Page 16

THE HAMPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

9.
Staff costs
Salaries
Social security costs
Pension costs
Recruitment and training		 2024
2023
£
£
49,608
44,632
-
-
2,471
1,911
320
165
52,399
46,708

No employee received emoluments exceeding £60,000 per annum.

The average monthly number of staff during the year was 3 (2023: 3).

The Charity makes contributions to employees' defined contribution schemes. The pension cost is shown above. There were outstanding contributions of £424 at the year-end (2023: £389).

10. Office costs 2024 2023
£ £
Telephone, printing, stationery, photocopying and postage 11,900 10,724
Office cleaning, heat, light, rates, water and insurance 14,689 14,919
Office equipment and building maintenance 6,274 1,681
Office equipment and building depreciation 15,572 13,866
Miscellaneous 2,847 1,732
51,282 42,922
11. Tangible assets Cost Freehold Office and Total
property equipment £
£ £
At 1 October 2023 829,569 65,650 895,219
Additions - (556) (556)
Disposals - (9,793) (9,793)
At 30 September 2024 829,569 55,301 884,870
Depreciation
At 1 October 2023 53,666 40,571 94,237
Charge for the year 8,979 6,593 15,572
Eliminated on disposals - (9,793) (9,793)
At 30 September 2024 62,645 37,371 100,016
Net book value
At 30 September 2024 766,924 17,930 784,854
At 30 September 2023 775,903 25,079 800,982

Page 17

THE HAMPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

12.
Fixed Asset Investments
Market Value
At 1stOctober 2022
Disposals
Additions
Change in market value
At 30 September 2023
Portfolio Analysis:
Investments
Charities Official Investment Funds
Cash
Charities Official Investment Funds
13.
Stocks

Goods for resale
14.
Debtors

Trade Debtors
Prepayments
Other Debtors		 Cost
£
65,000
213,068		 2024
2023
£
£
350,662
341,220
-
-
11,696
7,768
12,249
1,674
374,607
350,662
2024
Valuation
£
2023
Valuation
£
139,010
126,760
235,597
223,902
278,068 374,607
350,662
2024
2023
£
£
296
393
296
393
2024
2023
£
£
1,489
(2,700)
185
12
-
-
1,674
(2,688)

Page 18

THE HAMPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

15.
Creditors: amounts falling due within one year

Trade Creditors
Tax and Social Security
Other Creditors
Accruals
Wages
Suspended WIs		 2024
2023
£
£
3,101
4,631
541
461
43,809
38,610
12,468
14,726
424
389
34,161
30,671
94,504
89,488

All of the deferred income brought forward has been included in the incoming resources of the year.

Page 19

THE HAMPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

16. Funds

The income funds of the charity include the following restricted funds, comprising the unexpended balances of donations and grants held on trust for specific purposes, and designated funds, which are funds set aside out of general funds by the trustees for specific purposes.

Notes
Restricted funds
70thAnniversary fund
1
ACWW
2
Per Capita Accommodation
3
WI House
5
Joy Morgan Memorial Fund
6
Virtual Balloon Race Bursary
Fund
7
Total restricted funds
Designated funds
Functional fixed asset reserve
8
Investment revaluation reserve
9
Other designated funds:
Ellingham and Timsbury
W.I.Bursary
10
Building Emergency fund
11
Equipment fund
12
Training fund
13
WI Adviser accommodation
fund
14
Kay Dell & Eileen Greenway
Memorial
15
Pam Toneri bursary fund
16
Training & development fund
17
WI Amenity Fund
18
Total other designated funds
Total designated funds
General funds
Total funds
At 1
October
2023
£
Movement in funds
Incoming
Outgoing Transfers
funds/
funds/
investment investment
gains
losses
£
£
£
At 30
September
2024
£

13,424
1,083
-
14,507

13,062
1,054
(2,159)
-
11,957

16,878
1,343
-
-
18,221

775,903
-
-
(8,978)
766,925

3,251
262
-
3,513

252
-
-
(252)
-
822,770
3,742
(2,159)
(9,230)
815,123

25,078
-
-
(7,149)
17,929

61,761
12,249
-
-
74,010
86,839
12,249
-
(7,149)
91,939

45,527
3,675
(2,250)
-
46,952

23,421
1,891
-
-
25,312

14,197
1,146
-
-
15,343

2,279
-
-
(2,279)
-

1,321
-
-
-
(1,321)
-

37,189
3,002
(2,000)
-
38,191

35,831
2,892
(2,500)
-
36,223

39,364
3,178
-
3,600
46,142

29,509
2,383
-
-
31,892
228,638
18,167
(6,750)
-
240,055
315,477
30,416
(6,750)
(7,149)
331,994
106,106
555
-
16,379
123,040
1,244,353
34,713
(8,909)
-
1,270,157

Page 20

THE HAMPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

16. Funds (continued)

Restricted Funds

Designated Funds

Page 21

THE HAMPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

16. Funds (continued)

Transfers are made from designated funds to general funds or other designated funds when funds are no longer required to be held for specific purposes. Transfers are made from general funds to restricted and designated funds where insufficient funds are held to meet specific purposes or in order to allocate investment income and realised and unrealised investment gains/(losses) to the relevant funds.

17. Analysis of net assets
Tangible Assets
Fixed Asset Investments
Net Current Assets
TOTAL ASSETS LESS CURRENT
LIABILITIES
Long Term Creditors		 Restricted
Funds
£
Designated
Funds
£
General
Funds
£
Total
Funds
£
766,925
17,929
-
784,854
48,198
90,812
-
139,010
-
223,253
123,040
346,293
815,123
331,994
123,040
1,270,157
-
-
-
-
815,123
331,994
123,040
1,270,157

Page 22

THE HAMPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

18.
Funds managed as agent -
Income
National Federation: Fees
National Federation: Pooling of fares
ACWW Pennies
Expenditure
National Federation: Fees
National Federation: Pooling of fares
ACWW Pennies		 2024
2023
£
£
94,361
95,598
2,608
2,912
-
-
96,969
98,510
94,361
95,598
2,608
2,912
-
-
96,969
98,510

The above income and expenditure is not included in the statement of financial activities.

19. Related party transactions

There were no transactions with related parties during the year (2023: £Nil).

Page 23