**THE LINCOLNSHIRE NORTH FEDERATION OF WOMEN’S INSTITUTES** ~~**LINCOLNSHIRE NORTH FEDERATION OF WOMEN**~~ **’ ’S TRUSTEES REPORT FOR THE YEAR ENDED 31[ST] OCTOBER 2017 INSTITUTES ANNUAL REPORT 2019/2020 INTRODUCTION OF THE FEDERATION BOARD OF TRUSTEES** The Trustees have pleasure in presenting their report and the Federation’s Accounts for the year ended 31st October 2020 The Federation accounts have been prepared in the format prescribed by the ~Statement of Recommended Practice (SORP) issued by the Charity Commission in March 2005. They deal with the transactions and assets and liabilities of the Lincolnshire North Federation of Women’s Institutes. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Status:** The Lincolnshire North Federation of Women’s Institutes is a COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL (Company No. 2753736) It is also a registered Charity No. 1015949) Registered and Principal Office is WI House, Banks Street, Horncastle, Lincs. LN9 5BW The Trustees who served during the year were: - Rev. Sue Bradley Angela Borman Jean Burgess (Vice-chairman) Paula Burrett (Hon Treasurer from April 2020) Sara Carter (Hon Treasurer) 1 Lesley Forrest Janet Harrison Odette Millar Chris Morgan Dianne Tuckett Barbara Young (Federation Chairman) (Federation Chairman from April 2020) Day to day management of the charitable company is delegated to the Company Secretary, Susan Bain ## **PROFESSIONAL ADVISORS** ## **Accountants** Dexter & Sharpe (Louth) Chartered Certified Accountants, Rollestone House, Bridge Street, Horncastle. Lincs. ## **Bankers** HSBC, Cornmarket, Louth. Lincolnshire. LN11 9QB ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** The Lincolnshire North Federation of Women’s Institutes (LNFWI) represents the WI movement in mid-Lincolnshire and elsewhere. The LNFWI consists of 75 WIs representing a membership of some 1,800 women. The LNFWI’s role is to co-ordinate and focus the activities of the movement with each local WI and represent their views to the National Council of the National Federation of Women’s Institutes (NFWI) which meets at least annually for shaping policy and strategy and determining campaign stances. In addition, each WI is represented at the LNFWI Annual Meeting and NFWI’s Annual Meeting (AM) thereby providing an additional channel of communication. The LNFWI’s Constitution is set out in its Memorandum and Articles of Association – copies of which can be obtained from the Company’s registered office or from Companies House. Under the terms of Memorandum and Articles:- - i. A guarantee of £1 is provided by each of the company’s members. - ii. The Board of Trustees shall consist of at least eight and not more than 15 persons elected in accordance with Articles 44 to 47. 2 - iii. The Board of Trustees is elected for three years by the membership. - iv. All officers to be elected at the first meeting of the new Board of Trustees – independent tellers to be used if required **Policies & Procedures for Training and Induction of Trustees** **Organisational Structure of the Charity and how decisions are made** Following election, the members of the Board are inducted to the responsibilities of a Trustee by a tutor from NFWI. If there are no suitable candidates for a specific role eg Treasurer, a co-option of a suitable person with the requisite skills may be made. Co-options to be the term of office of the Board of Trustees. Following elections, members of the Board may attend training courses for their specific roles. The following matters require Board approval:- The Board meets eleven times a year and much of its detailed work is delegated to working committees. Financial updates and budget reviews form part of the monthly Board meeting agenda, and Trustees are briefed by the Federation Treasurer on all aspects of the Federation’s finances, budget plans fund raising and grant applications. Additional working committees operate for each of the Federation’s main areas of activity with members of the Board of Trustees or suitable candidates appointed by the Board of Trustees acting as Chairmen of these committees. These committees are: Members Advisory Committee, Events Committee and Lincolnshire Show ad-hoc Committee. - The Annual Budget - Reserves Policy - Capital Expenditure - Investment Policy on the recommendation of the Board of Trustees - The Risk Register - The Annual Financial Statement ## **Risk Management Policy** Through the activities of the Board, and the separate Working Groups, the Trustees have considered the principal risks to which the Federation is exposed, including the risk to the Charity’s financial positions, premises and reputation, and have implemented 3 policies to control these risks where deemed necessary. A review of the risks confronting the Federation is undertaken on a regular basis. The principal risks, which confront the Federation, consist of financial risks and reputational risks. The Federation is exposed to a wide range of financial risks, which include the risks of losses arising: - From fraudulent activities of third parties - As a result of breaches of law or regulations, which could expose the Federation to losses, arising from penalties and damages - From the Federation unable to meet their obligations The Federation controls these risks by implementing sound governance and maintaining rigorous financial controls. A segregation of duties exists between the Chairman of the Board and the Company Secretary with the Chairman of the Board being responsible for the conduct of Board Meetings, which determine policy and strategy, whilst the Company Secretary is responsible for the day-to-day management of the Charitable Company and the implementation of Board determined strategy. The controlled environment in which the Federation operates is considered robust and includes ensuring an adequate segregation of duties, documented authorisation procedures, budgetary controls and multiple signatory controls over payments. The Federation monitors accounts receivable closely and take prompt follow-up action when receivables become overdue. Adequate insurance is maintained to cover all risks to Federation property and the Board periodically reviews the Federation’s insurance requirements. The Federation is conscious that any damage to its reputation could have implications for the WI movement as a whole. 4 **OBJECTIVES AND ACTIVITIES** ## **Objectives:** The objectives of the Federation are to further the purposes of the Women’s Institute movement in Lincolnshire North and elsewhere. - a. To advance the education of women for the public benefit in all areas including (without limitation):- - i. Local, national and international issues of political and social importance; - ii. Music, drama and other cultural subjects; and - iii. All branches of agriculture, crafts, home economics, science, health and social welfare; - b. To promote sustainable development for the public benefit by: - - i. Educating people in the preservation, conservation and protection of the environment and the prudent use of natural resources; and - ii. Promoting sustainable means of achieving economic growth and regeneration; - iii. To advance health for the public benefit; and - iv. To advance citizenship for the public benefit by the promotion of civic responsibility and volunteering. “Sustainable Development” means development which meets the needs of the present generation without compromising the ability of future generations to meet their needs. The Women’s Institute organisation seeks to give women the opportunity of working together in their communities, of developing their capacity and skills, and of putting into practice those ideals for which the Women’s Institute stands. ## **Activities:** Women and girls with interest in rural and urban activities together with their local communities benefit from the organisation’s work. The LNFWI promotes women’s interests by providing a forum and channel of communication through the Annual Meeting and the NFWI Annual Meeting, thereby allowing members’ views to be represented to various governmental agencies and major corporations. 5 ## **Strategies** The key elements of the Charity’s medium to long-term strategy consist of:- 1. Offering a wide variety of learning opportunities in a variety of settings, making training in the widest sense available, encouraging personal development and promoting lifelong learning by ensuring traditional skills are preserved. 2. Encouraging WI members to adopt healthier, more sustainable lifestyles, by supporting leisure activities, the sciences and combined arts. 3. Increasing the WI’s influence of legislators, opinion formers and the public at large with regard to local, national and international issues of political, and social import, and to maintain the WI’s position as a respected voice of reason, integrity and intelligence. The Federation’s medium to long-term strategy is kept under review and adjusted to meet changing needs. The Trustees monitor and assess the success of the strategy by:- - Obtaining feedback from membership. - Maintaining contact with other charities and other Federations pursuing the Federation’s interests as agreed by the membership - Maintaining records of course attendance and trends therein. ## **Principal Objectives for the Year Ended 31[st] October 2020** The Federation’s principal objectives for the year ended 31 October 2020 were:- - i) To offer a wide range of learning opportunities to encourage personal development and promote lifelong learning, to promote new and traditional skills, and to continue to encourage WI members to adopt healthier and more sustainable lifestyles. - ii) To provide continued support to local WIs through the provision of appropriate training. iii) To take into the local communities the opportunities to learn basic life skills. 6 **Achievements and Performances:** Due to the arrival of the global Coronavirus pandemic in March 2020, the closure of WI House and the furloughing of the Federation Staff, it was possible to hold only a small percentage of the events and activities planned for the year. These included: ## **Board of Trustees** ## **At external venues:** Federation Visit to Kingussie in Scotland A Murder Mystery Treasure Trail in Horncastle ## **In house:** Monthly ‘Sewing Saturday’ craft meetings at WI House Horncastle. Visit to Lincolnshire Wildlife Park and Tiger Enclosure Visit to the Waste Re-cycling Centre at North Hykeham. ## **Members Advisory Committee** Lincolnshire North Federation comprises: 75 WIs – 1800 members Our three WI Advisers continued to give support to individual WIs and groups as required although Treasurers’ workshops and officers’ information sessions were cancelled due to the pandemic and national lockdown rules. Advisers were unable to visit WIs as usual, however zoom information sessions were introduced wherever possible. The ‘WI Friends’ continued to assist the advisers with annual meeting visits in the early part of the year. Unfortunately, three WIs were suspended during the course of the year. Several marketing events had been planned for 2019/20 with Advisers attending to promote the work of the WI and the Federation and to encourage new members. These were cancelled in line with national lockdown and government restrictions on movement. 7 ## **Events Committee** The purpose of the Committee is to provide a variety of events to enable members and non-members to participate in activities they otherwise would not have the opportunity to experience. These can include craft workshops, science days, history trips, theatre trips, visits to local businesses and social lunches. The Committee usually delivers 20-30 events per year, via a group of volunteers, including some Board members, These events help with our aims to alleviate loneliness, encourage social interaction and provide educational opportunities. Events across a broad cost range are provided, some being free or for a nominal charge, to help with inclusivity. The profit from the events contribute to the Federation running costs, as well as building reserves to protect the organisation from the risk associated with income and cost fluctuations. Although, the Events committee had a very successful start to the year and were able to hold the very popular Ladies Lunches events in November, further planned events had to be postponed due to COVID restrictions and national lockdown. A number of presentations and talks were successfully transferred to the zoom platform. ## **Financical Review** The SOFA (statement of financial activity) indicates that the Federation had a successful start to the year financially, but this was swiftly curtailed due to the global pandemic and all the restrictions and cancellations imposed on the Federation by the national lockdown. Expenditure has been kept down wherever possible although the mileage rate had increased to 36p per mile in line with the rise in fuel prices. When the pandemic hit and lockdown restrictions began, Trustees and Committee meetings were transferred to zoom thus reducing the cost of transportation significantly. Regular budget updates were given to the Board of Trustees at monthly meetings as well as ongoing monitoring of any events. Affiliation fees continued to be the main source of income with membership numbers comparable with the previous year. Some members continue to show displeasure over year on year rise in subscription fees and anticipated a further rise in subscriptions due in 2021. The Federation is aware of the need to recruit and retain its membership. 8 The sale of Enterprise stock was steady at the beginning of the year, with boxes of goods for sale regularly taken out to WI and Group meetings. This valuable income stream dried up after March 2020 when WI Meetings were cancelled due to the pandemic and the only income received by the Federation was through the sale of Federation diaries and the Inter-federation calendar. Funding from the letting of the hall at WI House ceased once WI House closed in line with the government’s pandemic guidelines and the office staff were furloughed. The dividends from the changes to the investment funds had increased slightly throughout the year. Cost of utilities has increased, and the Board of Trustees continues to review energy providers on a regular basis to ensure the Federation utilises the most beneficial tariffs. Internet banking has increased with more members now choosing to pay for events using this method. A summary of income and expenditure for the year is included with this report and the full set of accounts are available to members on request, at WI House, Horncastle. ## **Reserve Policy** The Federation requires reserves to allow it to continue work in connection with the promotion of the interests of women (as specified by the Federation’s Constitution) in the event of unforeseen disruptions to its income streams. The Trustees consider holding unrestricted reserves equivalent to six month’s expenditure optimal. Budgetary discipline will continue to be applied to ensure the restricted reserves are maintained at the optimal level The Federation reserves policy is reviewed annually by the Board of Trustees. ## **Strategy** The Federation’s medium to long-term strategy is kept under review and adjusted to meet the changing needs and the extent to which needs have been met by performance in preceding periods; 9 - i) To continue to offer a wider range of learning opportunities to encourage personal development and lifelong learning and to improve new and traditional skills. - ii) To continue to encourage WI members to adopt healthier, more sustainable lifestyles, by supporting leisure activities, the sciences and combined arts. - iii) To deliver members’ skills into the community wherever they are required - iv) To increase membership, by opening new WIs where possible, and to sustain present membership by supporting and encouraging established WIs. ## **Statement of Trustees’ Responsibilities** Company and Charity law require the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Federation and of its income and expenditure for that period. In preparing those financial statements, the Trustees are required to: - Select suitable accounting policies and apply them consistently - Make judgements and estimates that are reasonable and prudent. - State where applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. - Prepare financial statements on a going concern basis unless it is inappropriate to presume that the Federation will continue to operate. The Trustees confirm that, in the case of each of the persons who are Trustees at the date of this report the following applies: - So far as each Trustee is aware there is no relevant audit information (information needed by the Federation’s auditors in connection with preparing their report) of which the Federation’s auditors are unaware; - Each Trustee has taken all the steps to make themselves aware of any relevant audit information and to establish that the Federation’s auditors are aware of that information. BY ORDER OF THE BOARD SUSAN BAIN COMPANY SECRETARY Dated: 3[rd] March 2021 10 LIIYCOLNSIIIRE NORTH FEDEJIATJOIY OF WOMEN'S INSIITUTES STATLMLNTOF FINANCIAL ACTIVI'I'IFS Foli I'IIE YLAII ENDI;.D 31 OCTOIILII 2020 2020 Uorvtri£tcd funiJ$ 2019 Toiul runds Noics INCOME FROM Donaiioiis wid Icgacic5 21￿35 22,002 Charitablc Activiti¢$ Sup]x)t(in8 WJ branclJ¢5 28,909 67,877 Olh¢r Iradsng aoiivitie5 Invesim¢nt sncome Oih¢r income 820 17,487 Tol81 74519 EXPCiYDITURE ON Raising fuTrd5 922 3.393 Ch#rii#ble #¢tlvitle$ Supporting Wl bratKhcs 66,747 88,523 O¢hcr 1,620 Tolal 69J73 93.536 Net gains on invcstmen 2,648 Nl4T INCOME 5,983 10.303 RECONCILIATION OF FUNDS Toi#l fund5 brougbt forW￿r￿ 221,285 TOTAL fvNDS CARRIED FORWARD 237571 231,588 The notes fomi partof these financial SL4*inents Page 8 LINCOLNSIIIRENORTli fbDLRATION OF IVOIMLN'S I]%STJI'UT£S DtrlLAiVCL SHELr 31 ocfoBER 2020 2020 Unrc5tri¢i¢d ftsn¢Js 2019 Tothl funds Notc5 rixED ASSETS Tn#giblc a￿¢ Invcslm¢nls 155 528 158.325 i8,251 214,616 216,576 CURRENT A&SETS Stocks D¢bio Cgsli bank and in hand 2ffj69 382 30,151 12 555 30.266 33,202 32.572 CREDITORS AmounlS falling duE within oncycor 1102471 117,5601 NET CURRENT ASSETS 22.9X% 15,012 TOTAL ASSETS LESS CURRI,:NT LIABILITILS 1,588 F.T ASSEIS 231.588 FUIVDS U#rcstricled funds 14 237 571 231,588 TOTAL FUNDS 237J71 231.588 Thc chllritsblc company 15 cniitled 10 cxcmpiion froin audti undcr Scclion 477 of Ihc Companics 2006 for ￿le year endcd 31 Ociobcr 2020. The rnembe￿ have not rcquircd Ihc compDny t¢) obioin an aDdii of ils flnancial 51lllBm¢nis for the year cnded 31 OL*obcr 2020 i 8c¢ordan¢¢ willi Section 476 of the Comp3nies Acl 2(M)6. Thc tru51¢CS acknowl¢dEc Iheir respoiisibiliiies for la) ¢nsuriiig that It￿ charilablc ¢oinpaiiy kccp5 attountiiig records ihot Cotnply wilh S¢dions 386 and 387 orth¢ Companies Act 2006 llnd preparing finaiicial slalements whicli gilr a Irue and fair vicw ofih¢ st4te of atrairs ofthe tharilable company as ai Ihc eiid of ¢a¢h fingncial ycar and of ils surplus or defieii for eacli fiiiancilll year in accordance Nviih lh¢ requiremen15 ofscclion$ 394 and 395 and wliich ollierwise cotnply iyilh Ille r4uircmcttts of Ihc Companic5 Act 2006 relating ￿ rtnancial slJlem¢nts, far as applicabl¢ to tlie chllriiablc compaDy. Ib) Tl*se financial 51alcnwnls havc bc¢n PTepaT¢d in wcordance willi the provisions gpplicable io cliaritsblc compJnics subjcci 10 the small companies re8imc. 'Th rinancial 5thtetnents were approved by ihe Board of Trustees and autknrised for issu¢ on 31 MaTch 2021 and were signed on its haifby.. P Burrelt- TTU51cc The noics forn) pllrtofthw financial Stslemenls P2gc 9 LINCOLNSIIIRE NORI'11 TrEDER4TION OF IVOIMEN'S IiYSTITUTES NOI'ES I'O I"IIE fINANCIAL STA'fLN.IENTS FOR I-IJI YEAR ENDED31 OCi-OIICII 2020 ACcOUN￿NG foLICI&S Ilasis of prcpArin8 Ili¢ finAncial tstal¢ments The fJnan¢ial stsicnients of Ilie cliariiable comrAnyJ whith is a public ben¢fil eDtily under FRS 102. have been prcputed in a¢¢utdance with the cliatill￿ SORP IFRS 5021 'Accounling iiiid Reporting by Charilics.. Siatciiienl of R¢coinnienikd Practice applicable u) chariiies prepriiig thciT &wunt5 in a￿ordance with lh¢ Financial Rcwrting Siandard iE pplirable in Ihc UK and Republic of Ircland ITrKS 102} leffertive l 20191,. Financial R¢portiiig Siandard 102 '1'hc finDn¢iol Reporting Standard applicable iii the UK and Il¢public of Ircland, and lh¢ comp￿￿leS Aci 2006. The fiiiBIici31 51Ji¢mcnl$ havc IK'¢n prepared undcr Ihc hislorieal cost conveniion, with Ihe ekc¢plion of inveslincnts which wc included ot Inark val￿, as modified by thc revaluation of ¢¢rtain ass￿ In¢otne All income is reco8niKd sn Ilic Siii¢mcni of Finimciol Aclivilie8 unco Ihe charily has cntiilcnTrcnl 10 the fund$, il is probabl¢ that Iht incoin¢ will be re¢eived and the an]uuiii can be incasurcd reliably. Tlie largesl incomo 5treatn L%)ID¢s frorn atriliaiion rees. and th¢ reiiiaindcr of Ihc incolne is from allendanc£ 91 evenls wli¢r¢ tiie n*nibcrs of Ihc Woincn's Insliiuie provide refreshmenW 2nd from the sale of public2tions andoth¢r relthed il¢mS. Apendiiur¢ Liabiliiie5 are recognised lls cxp¢ndiwre as swn as thcre is a l¢gal or conslTiiciive obli8aiion ¢gmThillin8 the diarity ￿ that Cxpcndllu￿, 1¢ is probable Ihai a transfer of¢¢onoinic benefits will k t¥4uited iii sciilemcnl and Ihc ainouJ)i of tho obligalion can be ineasured T¢liably. LxpEndiiurc is 8ccouni¢d for on an accwals basis aiid lia& beeii ¢iassificd und¢T helldings Ihai ggrrgaie all ¢05t related 10 the caiegory. WI￿re cos15 cant￿1 ￿ dirceily attribulcd 10 particular headings Iliey have been allocated lo aciiviiies on a basi5 CO[￿151Cnl iviih ihc usc of resource& Irr¢wverdble VAT is tharged a5 a cost againsl lh¢ ll¢it¥ily forivhicli Ihe expendiiur¢ Ivas incurred. R&i5Lng funLis Raising funds Incl￿¢5 Cxpendilurt incurred by di¢ djariiy lo aiirath iiicoiiic for 115 chgrilllble purw5¢5. Charitable HtltvitIQs expcnditur¢ Supporiing WI branth¢s ii)¢lude5 Ih05c ¢osis incurred by ihc chllTily in Ihc delivery of ils a¢tiviii¢s and *rvi¢es. 11 iiiclud¢s boih cos15 Ihal can bc allouicd dirc¢ily lo sucli activiiie5 and Ihos¢ CO¥￿ oran iiidir¢¢l llaturc nccc55ary 10 SUPPOrt Ihaii. TanEible Jss¢15 Dcprcciaiion is provided ai Ihe folJDwin@ aniiual rnles In order lo MTiiC off c￿Ch ll5sei ovcr lis eslima￿d useful lif¢. rreehold property Fixiurc5 and filtin8S l%on C05L 20Qknon cosi and 15%on roducing balJncc Stock5 Sloths aT¢ val￿d llt the lowcr of cosi and nel realisable vlllue. aftcr making due alloivllnc¢ f(kr obsoleie slow iiioving items. Taxation The chariiy is ¢%¢mpt frorn corpDrbtion lax on its charitab12 arljVIIi¢S. Fund &¢cuunting UiirestTiGted funds used sn accordanec wilh ilic ¢harit¥blc obj¢ctlV¢5 81 discr¢lion of Ili¢ Iruslee& Ilesiri¢l¢d funds Lan only for pllrti¢olar reslriclEd purw5e5 Iviihin the objecis of the ¢hariiy. Resiriciions arise i¥h¢n sp¢¢ified by ihe donor or Nvh¢ii funds Dre raised for parti¢ularresiri¢ied purposES. Further¢xplsnationofihe nalurc and purpose ofcacli fund is iD¢luded in Ili¢ wtcs to th¢ finonci¥l stal¢incnl5. Investmonts rixed assct in¥eslm¢nt5 Bie stawd utvaluaiion 9$ It 31 Ocknber2020. Pagzlo nlinued... LINCOLNI SIIIIIL NORTII fcDLfthTION OF IVOMEN'S INSTITU'rLs NOTES TO TIIE f4lNANCIAL STATEMF.NTS- conlinu¢d FOR TIIE YLAR CIYDED 31 OCI-OBFR 2020 DONATIONS AND LEGACIES Income from governmeni groDt5 comprises of a grani from Tli¢ ljig IA)ttBry 10 fund thc conwuction of a car park th Wl l.Iou5e. Thi5 intemc is bcing rclcased lo th¢ Stsicmentof FiDllnciJi AaiV¢li¢S over Ihe expected lifc of the asscl. OTHFR TRADING AcfIviTICS 2020 2019 Publications L¢uings Rafflcs 4,106 830 732 6,778 2,025 2.509 S668 INVESTMETrIT INCOME 2020 2019 Invcstincnt incom¢ 820 OTJIER INCOME 2020 2019 Oovernmeni support 17487 During Iht year ihc ¢hority reeeivcd ll COVID Brant from kni Lindsey District Council of £IO.000 £7.487 from the Corottavirus Job Relcnllort Scheme. NCT INCOMFJIEXPENDITURCI Nct incozntl(expendilure) is siaied alkr¢hargingllcrBdilirg)'. 2020 2019 rJepreGithiion- olvncd assets Accouniancy L797 1.704 3,098 1,620 TRUSTCCS, REMIINERATION AND IIENLfITS There Mrre no Iruslc¢s' rCmu￿ratIOn or 0(￿r ￿nefits for th¢ yellr ended 31 (klobcr 2020 nor for Ihc y¢ar ended 31 October 2019. Trust¢es' ¢xpcnsCS Trustccs, trav¢1 cxpcndirure of£i,620 {2019.. £5821 Ivas paid duriii8 the year. Pag¢ niinucd... LINCOLNSIIIRE NOR'rJJ rLDElbll'lON OF IVOMEN'S INsfi'i'uTES TrIOTES TO TIIE FJNANCtAL ST*lTlfllEh'fs- cothiinucd roR'fiiE ITAR ENDED 31 OCTOBLR Z020 srAFF COSTS 2020 2019 Wages and sal4ri¢s 21 J71 22,252 21 J71 22,252 The average montl)ly nuinkrofe]nploy¢es duringthe yeat W05 as follow5.' 2020 2019 o- 10.000 10,001 40,000 No ¢mployees receivedelnolumellis in ex¢e$s of £60,(K)O. TANGIBLE FIXED Assrrs rixlurES and rT¢ehold p[￿rtY Plartl and chinery Totals COST Ai l November2019 and 31 October 2020 157ffi56 1,033 178.941 DE4 PRECIATIOIY Al l Noveiiiber2019 Chwg¢ forycar 7,706 lJ76 12369 1.163 641 58 20,616 Ai 31 2020 9,282 13,432 699 23,413 IIOOK VALUE Ai 31 Octob¢T 2020 148J74 6*20 334 At 31 Odober 2019 149.950 7,983 158,)25 io. FIXED ASSET INVESTMEKrs Unlisi¢d invcsiinen15 MARKET VALUE Al l November 2019 Rcvaluations 837 Al 31 October 2020 NET BOOK VALUE Al 31 O¢lober2020 59,(b88 Al 31 Odober2019 58,251 There were no inveshnenl asseis outside Ihc UK. Pag¢ 12 niinu2d... LINCOLNSWIIIICNOIITII Ff.DEIlklTION OF 1VOh.IE￿'s INI STITUTFS NOTES TO THr,. rINANCIAL STATEl¥lFiYTS- cOn¢1￿￿til FOR'fFIE YF.AR CNDED 31 OCI'OBER 2020 STOCKS 2020 2019 Sto¢ 2,(￿9 12. DEBTORS: AMouTrrrs FALLING DUE WITIIIN ONE YEAR 2020 2019 Trad¢ debtor5 Pnpayments 73 482 382 382 555 13. CREDITORS.. Amouwrs riALLIIYG DUE IVITJIIN ONE YDtR 2020 2019 Tr￿e ¢rcditor5 Oihcr Crcdilors Def¥rr¢d ineome Accrucd ex￿nseS 7,075 365 8,500 1,620 365 1382 10247 17,560 Dcfcrred income ¢ompris¢s of The Big l.oltery grani rC¢eL￿d fur 111¢ rar park ot WT House and is being releascd 10 iDCOiIIC over cours¢ ofi%venly ycars. 14. MOVEMENT IN I."UNDS Net movetnrni in funds At Al 31.10.20 u￿re￿Irl¢te￿ fwntls County fund Counly rcserve fund 201J88 3O,UOO 5.983 207571 30,Th)o 23lJ88 5.983 237J71 TOTAL FUNDS .5,983 237.$71 Nei Inovcment in funds, includcd in th¢ abDVe arc a5 follows.. Incoming tcsourcos ResO￿Tce$ expcnded Gains pnd 105ses Movetnertl Utsr¢$tricted County fund 74519 169J731 837 5.983 T(n'AL FUNDS 169J731 837 S983 Pog¢ 13 LYnlinuod... LINCOLNSHIIIE NORI'H FEDEBATION OF WOMLIN'S INSTI"fUTES NOTES TO TJIC fiNANCIAL STA'fLP¥lLN'A'S- coThlinucd FORI'IIE YCIIR LNDLD 31 OCTOBER 2020 14. MOVEMENT IN FUNDS- ¢ontin¥¢LI ComparHtive5 for movcment in funds Ncl Inovemeni in fund5 Al Unrestrtcted fund5 Courtly fund County reserve fund 191285 30,0(K) 10,303 201,588 30.000 221,285 10,303 231.588 TOTAL FUNDS 221,285 10.303 231,588 Comparativ¢ ncl movement in funds. included in th¢ rtbovc are as follows.. Incoining 50ur¢¢s Resourtts expended Movement in fun losses Unre$trict¢d funds County fund 193,5361 2.648 10,303 TOTAL FUIYDS 193,536) 2.648 10,303 A CUT¥ent year 12 Inonihs and piioryear IZ moii1115 ￿Mbined PD5iIion 15 a5 foliow5'. Nei oveiiienl in funds A( Al 31.10.20 UnrtStTicied funds Couniy fund c(￿nlY ￿serve fund 191,285 30.000 16.286 207,571 30,000 221,28) 16,286 237.571 TOTAL FUNDS 221,285 16,286 237.571 A cuttEtLtyear 12 I￿(￿th$ and prioryear 12 mont1￿ combined nct tnovcmcnt in funds, indudcd in Ihe are as follo￿￿.. Incoming resource5 Rc50urces e%p2nded Gains and losses Movem¢ni in fllnds Unrcstri¢ted County fund 175,710 (162,9091 3,485 16,286 TOTAL FUNDS 175.710 1162.909) 3,485 16,286 Pag¢ 14 ¢ontinued... LINCOLNSI.IIRf NORTli rr,DEILITION or II'OMI,-N'S INSTI1'U'￿s NOTES TO T14E FINANCIAL STATEMf.NTS- cohtinutd roR'I"IIF YEAR INDCI) 31 ocfoBER 21r20 15. RCLATED PAR1'Y DISCLOSUR&S There wcre tx) rclaled party Iran58Ction5 for ihe ycarendcd 31 oC￿ber 2020. Pige 15 I,INCOUYblllXL NOII-111 FI,-DLIiATION OF vOfvI￿,s INSTITUTES DCTAILED STATEMENT or riNA￿'C(AL ACTJVITILS roR I'IIE YknIR fNDf,D 31 ()C-I-OBLII 2020 2020 2019 INCOM Donation$ and I¢￿tIeS Grant5 receivablc Sub5criplions 500 500 21.502 2105 22.002 Olhcr tT8dirbE activitie$ PublicDtions LEiiings 4,106 830 732 6.778 2.025 2.509 &668 Invcstmcnt intomt InVestll￿nt income 820 Charit#bte M¢tiviti¢5 Events Annual m¢¢iings Sub￿01￿)￿lItces 10,715 53,915 13,424 538 733 28.909 67.877 Other Éncomt Govemmenl 5UPWrt 17.487 Tolxl intomlng r¢sour¢¢J EAPENDI'ruiik Otlier trading sttivities OrKning siock Publicalions C105inE stock 1.497 3,647 12.6691 922 3,393 Charitabl¢ a¢tlVLtie5 Wages Rates, lighi and heal Insuvan¢¢ lelephone and wsiag¢ Printing and siationery Sundries Cleanin& rcpairs and rcnewa15 Trnvel Annu81 meelit Costol'evcnts SU￿com￿ll1t¢ts Carried forward 21J71 IA98 17741 1052 4,781 624 2,557 1.62U 22.252 75 11,590} 2,363 6,322 737 3.653 12.089 38.451 44 84.513 IS052 63,550 iis pagc docs not form pxrt of Ihes14tutory financial MatemonLs l)Trgc 16 LINCOLNSIIIRI NORI'II FCDERATION OF NVOMfN"s INSTITIITr.8 DCITAJLED STATEMENTOF FINANCIAL AcfiviTJES FORIIIF YEAR LNDED 31 OCIDIIER 2020 2020 2019 Ch4rilgble atlivitiQ5 rouglit fonvard 'rraining Dnd bursarie5 Ikpiecialion of wigibk fLxBd ass¢15 6JJSO 40 2,797 84,513 912 3,￿8 61747 81,523 Other A¢couThlllucy and l¢gal fees 1,71 1,620 Total rc*)ur¢e5 cxpcndcd 69J7J 93,536 Net income b¢for¢ g2in% losses $146 7,655 RoAli5cd r¢i'ogni5ed gaity5 1055e5 Rellliscd gaindlloss¢$) on fixed a55ei inv¢$lments 837 2.648 N¢t incom¢ -q,983 10.303 lThis pag¢ docs not lorm part of sthiuwry financial $￿i¢M¢n￿ Pagc 17 REGISITRED COMPANY NUMBER: 02753736 IEngl*nJ IValE51 REGISTERED CJIARITY NUMfsER- 1015949 JiCI>OIITOFTIIE TRUS7'F.r_s AND UNAUDITID fiNANCIALSTAI'EMENTS riOKTJIE YEAR ENDED31 OCTOBER2020 FOR LINCOI.NSIIIRL NOR'I-11 fiDEILII'ION OF IVOMEN'S INSI'II'U'IYS rkxlcr& ShJry rtcred Certified A¢countsnis Rolles1o￿ l.lous 20-22 tJridg¢ Sircel Horncasile l.incolnshire LN9 5F]Z LtIYCOLNSHIRE NORTH FEDERATION OF WOMEN'S INSTITLfi'ES cONTE￿[s OF TIIE FINANCIALSTATCMCNTS FOR TIIL YEAR ENDED 31 OCTOBLR 2020 PAge R¢port of thtTrustec5 Indepcndellt ExMminer'5 Reporl St#tem¢ni of Financi￿] Attivl¢i¢5 Balgn¢¢ Shect Notcs to the Finan¢ial St*temtnts D￿*11¢￿ Stfitemcnt of I,"inNn¢i81 ActiYilb¢s 16 10 17 LINCOLNSIIIRE NOR774 FFDERATION or IVOMEN'S INSTITUTLS RCFORT OFTIIE TRUSTEES FOR TIIE YEAR ENDEDJI ocfoiiER 2020 The TrDstees havc pkasure in ptts¢nting Iheir ￿p)rt ond the fcLkntion's Ac¢ouMs for the yearended 3151 oc10￿r 2020. The Federation a¢counis liave been pr¢paT¢d in the formal pr¢5cribed by the Sioiem¢nl of RE¢ommcnd¢d Practicc ISORPI issued by thc Chaiily Commission in Marcli 2005. They d¢al with the Itansaciions and asscis and liabilitics of Ihc LincolnshiTe Nollli Federntion of Women's In5tilules. Ps8e I LINCOLNSIIIRE NORTH FEDERATION OF IVOMEN'S INSTt'ruTr RCPORI. OF TIIE TRUSTLLS FOR TJIE VIAR ENDED31 ocfoBER 2020 OB.JECTIVES APID ACIIVII'IES ObjcctbWL Thc objcctives of Ihc Federaiion ayc to ￿rthCrthe purwses of lh¢ Women's Inslilul¢ moveinenl in Lincolttshl￿NOrth and elsewhcrc. To advan* th¢ ¢duttJtion of womcn andgirls for tliB public ben¢fil in all areas including Iwilhout limitaiionl'.- Local, naiioiial and iiiicmational issues Dfpolili¢al w¢tal importan¢c- ii. Musi& drama and otlicr culiural subiccts,. and iii. All bJan¢h¢s of agriculiure. crdJl4 honie Cconomt￿. scictwc. hcalih llnd s(Kial weifHrc' b. To promote suaainabk d¢v¢lopmenl for the wblic bemtfit by.." Iducaiing pcopl¢ in the prcservaiion, conscTvation and pro￿¢110￿ of Ihe cnvironmelli and the prudent usc of naiurnl rcsourcc5', ii. Promoiing 5usloinable IneDns ofllchi¢ving economi¢growth and reg¢￿ratIon. iii. To advance liealili foT Ilic publi¢ kn¢fil,' and iv. To lldvan￿ ¢sltz¢nship for Ihc public ben¢fii by the promotion of civi¢ reswnsibilily 3nd volunle¢r¢n8. "Sustainsts1¢ D¢velopmcDt" means development which meets the nee(Js ofihc present genetaiion wliliout cotnpromising Ihc ability of futur¢ g¢nerntions lo meet Ilieirneeds. Thc Women's Institule orEanisalion s¢¢ks lo gi￿ women IIiE OPPOrtunily of working iogeihcr in Iheir ¢ommuniti¢& of dewelopin8 their capacity and skills, and of p￿ting into practice those ideals for ivliich th¢ WoiKen's TTrstilule sianijs. Wotnen and g¢rls with interest in rurnl and urbon ￿liVi1]c$ IOEdh¢r Ilieir local communiiies knefil frorn Ili¢ or8anisJtioTh's ork. The LNFWI prOn￿leS womens in*rests by Prov￿1ng & fotum and thannel of coinmunication IhrouEh Ilic Anliual Meeting and Iho Nfwi Annual Mc¢iing, Ihcrcby Bllowing znemixrs, vicw5 to bc r¢presen￿d lo various 8ovcrnmenial ag¢ii¢i¢s and major corporaiions. Strategit5 Thc key eleincnt$ ofthc ChAri(ys m¢diwn kn long-icmi $1[a￿8Y ¢onsislor... i. oircring a widc variely of leaming opporiunilies ift a vari¢ty of sellings, making tT?ininE in ihc widcst Rns¢ s￿lIabl ¢n¢ourg8iiig PErSon￿lI d¢vclopin¢nt and promoting lifelong Icarning by cllsuring Iradilionlll skills are prcs¢rved. 2. Encouragin8 Wl ￿lem￿r5 kn adopt heal￿11Cr, Inorc s￿$¢aSnablc lifc5tyles. by supwrting leisure aciiviiies, lh¢ sciences ?nd combin¢d ￿rts. 3. Incrca5ing the Wl's influenc¢ of legislaior& opinion formers and lh¢ public at large willi r¢8ard lo local. naliongl ond int¢rnational iS$L￿5 of poli11￿1. and social itnport. and lo maintain lh¢ Wl's w51tion 2s a r¢sixcled voice of reason, integrity &nd inlclli8cnc¢. ic federnlion'5 llLedium to lon8-Icrm slrBlegy is kepi unthT rcvicwand adjusl¢d lo Jneel clianging need5. Thc Trusi¢e5 monitor lltKI llssess Ihc suctess of ihe Slraicgy by:_ Obtaining f¢cdback from mCTnkrship. Mainiaiiiing coniiicl iyith otheriliariii¢5 gnd other l--ed¢rJiions pursuing Ihe fethralion5 inlcr¢sts ogrccd by ilie mcintership Maintaining r¢cords of Course ￿ttendanc¢ and Ircnds Ilicrcin. PrinciiTrHI Ol>je¢livos for tlie Year Ci 31st Octobcr2020 Th¢ Fed¢ralion's princi￿1 obj¢thiv¢s forthc year cndcd 31 OclotKr2020 w¢￿-.. il To offcr a wide ranE¢ of kaming opy)riunilics 10 ¢noouragc pcrsonal dcvelopnicni and prornole lifelong learning, 10 promole EI¢W ii nd Iradilional skills, and 10 woiinuc lo ¢n¢trura8c Wl meinbets 10 adopl lie£ilihier and more 5uslJinable life51ylcs. ill To provid¢ ¢oniinued support lo lo￿1 Wl$ Ihrougli Ilic proYi$ion ofDpproprial¢ Ininsng. iiil To lake inlo Ih¢ local winniuniiies ihe opwrtunities 10 Icam b￿￿C life skills. Pagc 2 LINCOLNSFJIRF. NORTJJ fcDLIbKIION OF IVOMEN'S INSTITUTES RCVORTOFTHE TRUSTEFS FOR'fiiE YEAR ENDLD 31 OCIDBIR 2020 A¢hl¢vemtnls and P¢rftsrminees Due 10 Ilie I￿[1val of th¢ 8lvbal Coronaviru5 pandeniic in MaT¢h 2020. the closurc ofwi 14ouse dnd ￿1¢ furloughing of lh¢ fthration Staff. il possible to hold only a small ￿re¢ll￿ge of ihe evenls and aciivilies planncd for Ihc year. These includcd.. Boanl ofTr¥stcc$ At exlemal VenU￿- A MDrdcr Mysicry Treasure Tr￿11 in Homc05tle Visit io Wasie Re-cyclin8 CeniK ai North l.lykchm VirtuDI lJr¢sidcnts' Rc¢cplion In house.. Monthly'Sewin8 Saiurday. eratl m¢¢tings ai Wl Housc in 14orncssile Mcmbgvs Advisory Comrnittce Lincoln$hireNorth fcdernlion compris¢s'. 75 Wls. 1800 member5 Our Ihrce WJ Advi5crs coiJtillL*d 10 giv¢ support tts individual Wls and gTOUPS as r¢quired although TT¢asllrers' WOTkshops and oificer5' infortnalion 5cssions w¢re cancelled du¢ 10 lh¢ paiidemic and llalional lockdown n)les. Advi%rs were unabl¢ 10 visit Wls as Usual, howcvcr zooin infornialion 5g5s1o￿ iv¢r¢ intr(xlueed whcTrver wssiblc. Th¢'WI fricnds, ¢oniinu¢d to 8551st ihE advisery with gnnuxl meeiing visits in die eaTly part of the yellr. Unfortunately. IIiTCC Wls werc Sus[￿nded during Ihc wur5e of ihe year. Several marketing evc]Jts liad b¢cn planned for 2019120 with AdviseTS aiiending to profflote I￿ work of ihe Wl and f¢d¢ralioii and lo cncournge new members. T11¢5¢ Wng lellrning and improve Dew and tradilioiial skills. ill To conlinuc io encourag¢ Wl ine]nbers 10 adopt healthier, moIe ¥uslainable lifc51yles, by SUPKX>rting IcisuTE L¢tivilio5. lh¢ s¢ienc¢s gnd cotnbined ans. iiil To d¢livcr mcmbcts, skills info thc cominuniiy wlierever they are required iv) To increase Inembcrshim by opening ncw Wls ivhEtc tx)ssibl¢. and to susioin prcsEnt Inemlxrship by supporilng and encour￿lging estsblished Wls. l)ag¢ 3 LINCOLNSIIIRENORTH FEDEK4TIOPI OF II'OMCN'S INSTIIUThS REPORT OFTIIE TRUSTFES FOR TIJL YEAII bNDED31 ocfoiiF.R 2020 STRUCTURE, COVERNANCE ATVD MANAGF.MF.NT Thc l.incolnshirc Nortli f¢d¢ral¢on of Wom¢n's Inslitutcs ILNFWII ￿PreSe￿LS Ili¢ Wl movcinenl in mid-Lincoln5hirc ond elsewhere. The LNfwi ￿nSistS of75 Wls represeniing a lliembcrship ofsoinc 1,800 womcn. Th¢ LNFWI'S Tol¢ is 10 w-ordinale and focus dic aclivilics of Ihe movctncni Mih local Wl and rcpre5enl Ih¢ir vicws lo Ilie National Council of thc Nationlll fcdcrniion of Women's Insiituies INfwii wliicli mccls al Ica￿ annulllly for shDping PDITCY and siraicgy JTrd deiennintn8 ¢ainpai811 stances. In addilioii, rnch Wl is rcprcscnicd al thc LNfwi ADnual Mc#ling and Nfwi's Annulll Mccting IAMI thcyeby providins an addilignDI ¢hann¢l of cotlltnunicaiioii. The LNFWI'S Constitution 15 5cI Out in its Memorandum llnd Articles of A550¢iaiion CoMwdn￿S reEisiered office or from Cotnpanics House. copie5 of Mthidj Gan ix obtsined from the Underihc t¢rnis ofmemorandum and Articlc5:_ . A guarnni￿ of£1 is provided by cath ofihe ¢oinpany'5 iiiembers. ii. The Iloard ofTrusic¢s sh?11 consi5tofai k6St cight and TM)I mor¢ 15 personseieGied in ￿CordanCe ivilli Article544 ￿ 47. iii. Th¢ Board (kfTn25te£s 15 eleC￿d lor Iliree yeaTS by the inem￿[Ship. iv. All otTicers 10 b¢ cl¢ctcd at thc first mcciing ofthe new Board ofTrusiees- indepEndeni *ll¢rs to bc uscd ifrcquired. Policio5 & Proe¢Llur¢$ for Trainillg Induction of Trustec Following elcthion. the mcmbers of Ihc Board are indu¢trd io Ihc rc$ponsibililic5 ora Trusle¢ by a tuior fTom NnVI. Ifihere arc no suitabl¢ candidates for a specific rolc eg TTCL8urcr, a ¢Q•oplion ora suitable PEtson with the r¢4uisile skills tnay k Inadc. co￿0P110ns kn b¢ lh¢ lerni ofotricc of Ihc Bpyrd of frtL$￿c5. Folloiving el¢ci¢on.% mem￿r5 ofih¢ Boaid mlly thiend irniniDg couises for Iheir wcific roles. Organi$AiionrLI Siructurr o(th¢ Charity Rn(I bow decisions ar¢ mgdc The Bottrd meets e]even limcs a year and Inuch ori15 dcthilcd Nvork is dclcgaied io working eommtitce5. Finan¢ial updalc5 and budget rcviei4E fonn parl of Ihc Inonility Bofjrd mccling agenda, Trus￿¢$ ar¢ bricfcd by th¢ fcderalion TTeosurer on all aspecis of the Feder&tion's finances, bud8et plan5 fund raising and grantapplications. Addilional WOTking cominitiee5 Opera￿ for cach of the fcderation's Inatn ￿EaS of aciivity wilh mcmbers of ihc 13oJrd of Tnisiec5 or 5ujlablc candidalcs appoinlcd by lh¢ Bogrd ofTru51¢C5 acting a5 Chairinen ofihcK ¢￿￿177111CB8. Thcsc committccs wc.. Membcrs Advisc*ry Cornzniiie¢ Evenis CoMmi￿t Lin¢olnshirc Shoiv Ad-Hoc Commiiie¢ Th¢ folb)winE [n&t￿rS rcquirc EJollTd upproval:. I"he Annual Iludget Rc%ery¢s Policy 'xp¢ndiiur¢ Inv¢stmcDt Policy on Ihc r¢¢oinmendaiion ofthe finante Coinrnittce Tlic Risk Rcgisicr The Annu￿ Financial Sthtemenl Risk Mhnagement I'olity Throu8h Ihc nctivitics of ih¢ Board, and the separllte Working Groups, thc TrustCe5 hav¢ con5id¢r¢d Ihc principal r&sks 10 whicli lh2 Fedcralion is expDsed, including Ilic risk lh¢ ihc Charity's financi21 position& prcinise5 yepuiation, and liavc irnplcmcnied policics lo control Il)ex ri5k5 ivhere deemed 1￿CeS￿ry. A review of lh¢ risk5 confronting Ihc f¢dcratiort is updertaken OD a re8ular basis. principttl risks, whi¢li confront Ihe rcdernli0￿ ¢on515t of finDn¢inl ri5k5 ttnd r¢putsiionDI risks. Thc F￿eratIOn is ¢xpo*d w a ivide range ocfinancial risks, which iR¢ludc Ihc risks of Iosscs aiising.. Pag¢4 LINCOLNSFttlil iYOR'fFI FEDCRA1'ION or IVOMLN'S INSTITU'fLS REPORT OFTI.IE TRusfElIS FOR TIII,- YLAR ENDF,D 31 ocfoBER 2020 FTOM frsudul¢nt llctivilies of third parties As a ttsult of brcachcs of law or rcgulaiions, which could ¢xw5¢ Fedeyaiiott i(k los￿5. arising from PEnaliics and dDmagcs Frotn Ihc f¢deralion unable ￿ Ineei their obligaiions The Fedeyation ¢onlrols IILese risks by impleincTrlin8 sound governancc and maintaining rigorou5 financial conlrols. A 5¢gregalion ofdutie5 exists ￿￿¢¢n the Cliairrnan ofthe Board and ihc Company Sccr¢tary wilh Ihe ChllirtDan ofilK LIQ￿rd bcing re5ponsiblc for the conduci of Board m￿ling5, i%thich deiemiine wlicy anij bltaieBY, wlii151 Ihc Coillpatiy Sccrciary 1$ rtsrx)nsible for lh¢ day-lo-day manag¢menl of the Charitable CoiKpany and thc iinplclncntalton of Boaid deicnnined 51Tal¥gy, Th¢ conirollcd environtneni in ivhich ili¢ federation OPCTaies is considercd robusi 4vd inelud¢s cnsuring an Y￿eqU￿1e SE8regaiion of duiie5, docutnenied autI￿rIsation pro¢cdur¢s. buds¢iary coiitro15 and niuliiple signatury contro15 ovcr payithen15 The federnliDn inonitors accounts Teceivable closely and tsk¢ PEOtnpl follow-up aclton wli¢n ieceivablES bccoin¢ovcrduB. Ad¢quale in5uian¢e is maintained Èo wvcr all risks 10 FederBtiotL property and ihe Board puiodicilly r¢views th¢ f¢d¢ralion's insurxn¢e requiretnents. The Federaiion ￿ conscious thai any damage 10 its Ttputslion could hvc implicalions for th¢ Wl movw)Jenl as awhole. REfcRE)YCEAND ADMITrIVSTRATIVE DETAI The Lin¢olnshir Nortli I"'c(kra(ion of Womcn's Insi1tu￿ is o COMPANY LIMITED BY GUAPANTCL AND No'r 14AVING A SHARE CAPITAL (Company No. 2753736)11 is a150 a regisicrcd LhaTily No. 10159491. Regisicrcd and Principal oifice is Wl House. Banks Sire￿. Homca5tle, Linc5. LN9 5BW. Thc Tru51c¢s who seTved durlng Ihe year w¢iL': Angelu Borman (Appointed l April 20201 Rev. Sue Bradlcy Jean Burgess (Vic¢ ChDifrn2n} Paula Burren (Holi Trtasurcr froin l April 20201 Sara Cart¢r (Hon Trcasurerl IKsley Forresi (Resigned l April 20201 Janci Haffison (Appointed l April 2020) Odeite Millar (Appoinled l ApJil 20201 Chris Morgan Ifederaiion Cliainnwjl (Resigned l April 20201 DiwuJE I'uGkeii (Federdlion Cltsimian froin l April 20201 Borbara Youog (Appoinfrd l April 20201 L>ay lo day manag¢mentofihc Chariiablc cotnwany is del¢gated io ihe Company Se¢t¢iary Mr& Susan Bain. PROFESSIOPIALADVISORS AccouDtAnls DcAl¢r & Shllrpe Chartered Certified Accountants Rollcsionc Ilousc 20-22 BridBe Sire¢l lorncasil¢ Lincol)￿1 LN9 514£ Bankrn HSBC CommBrkel Louth Lin¢oln5hire LNII 9QB Page 5 LINCOLNSHIRE NORTH FEDEILITION or II'OMEN'S INS'ri'ru'rcs REPORI. OFTIIE TRUSTEIS FOR TJIL YEAR bNI)V,D31 ocfoiiER 2020 FINANCIAL RF.vir.w Thc sofA Isiaiemeni or rinancial activilyl ivdicales Ihat Ihc Fed¢raiion had a succcssful Slart io ilic ycar financially. bul Iliis wa5 swiftly Cumaikd duc lo thc global pRndcmic aTKt all th¢ rcstri¢tion5 Bnd cÈnccllalions imrosed on lh¢ Felkraiion by the national lockdown. Ex￿ndItUre bccD kcpl wherever possible &lihough die mileage raie ha(1 in¢r¢ased kn 36p pttr mil¢ in linc with Ihc r5￿ ill ru21 price5. Wlicn Ilic pandcnlic hil lockdown rcslriclions kgan.-I'rusic¢5 llnd Committce m¢etings werc tran$f¢rr¢d 10 zoom ihus rcducing Ilx cost of Iilliisponation 5ignificanily. R¢gular bud8el Up￿aleS Iverc givcn lo Ilie Board of Trusiecs ot Inoiiilily tnEcling5 as well ￿ ongoing monitoring of any cvcnis. Aifiliation fce5 coiilinued io b¢ th¢ malty x)urce of incorne wilh m¢mbcr5hip nutnbErs compOrab￿ with Ihe previou5 year. Some mctnbcrs ¢ortiinu¢ to shoiv displ¢asurc over year on ycar iisc in subscriplion f¢¢s and aniicipaled ll fUrt￿E rise in subsuiplion5 duc in 2021. Tlic federJtion 15 awar¢ ofihr nced 10 rxruil and relain 115 rnemiKrship. Th¢ Sak of Enlupri5e sloL& w&5 steady at Ihc bcgsnotng of Ihc year. willi boxc5 of good% for sale regulorty iaken out ￿ Wt and Group rncelings. This valuable incomc slr¢am dried up atiet March 2020 when Wl Mceiings were cancelled due 10 Ihc pDndeinic and Ilie only income received by tlic fcderalion ivas Ihiougli Ilie s?Ic orrcdcration diari¢s and Ili¢ Intcr-fethraiion calcndar. Funding from the leltin8 of the hall al Wl 14uuse ccascd once Wl l.lous¢ closcd in line with the govemm¢nl'5 P3ndemi¢ guid¢lin¢s and the officc statTwere furloughed. lThc divid¢nds from ihe Changes to Ihe invcsuneni funds had in¢Feased 51ighily IIiToughoui th¢ year. C05t of utilities has inoEa8ed. and the Board of Trustees ￿hlinUeS ￿ review energy providcrs on D regular b95is lo cnsure the Federniion uillisu the mo* knefJciBI knriff3. Tnlernel banking has incr¢ascd i14lh more memkrs nowchoositg io pay for cvcnls using this Mcl￿d. A suininary of income and ¢xpendiiurc for tlie year 15 iThcludcd with Ihi4 r¢pori thc full ￿1 of gctounls li w available ￿ memlxrs on req￿Sl ai Wl l-lousq Flom¢a5tlc. Re5orve Vojicy The F¢deration requires Teserves 10 allow il to coritinue wotk in COn￿diOn willi tIK PTomotion of Ihc ini¢re5Ls of woin¢rt (as 5r￿cifIed by Ihc F¢dcraiion's Conslitutionl in thc cveni of unforc5ccn disrnoions w 115 incomB siNm5. The Trustees eonsider holding unr¢strict¢d reserves equivalent 10 Six monll)'s ekpendilure oplimal. Budgeiary dis¢iplsn¢ will continue lo be applred io cnsurc the re51riclcd Tcscrvcs arc In4inlaincd al opiimgl level. Thc Fcderntion reserves policy ￿lewed annually by Ihc Board ofTru51ce& .?prTrvcd by orderofihe board of iN5t¢¢s on 31 Mareh 2021 and signed on its behalf by.. Mr5 P Burrelt- Trustee Pagc 6 INDEPENDENT LIAMIiS'ER'S REPORI"TO TTrIL TRUSTEFS OF LINCOI.NSIIIIIL ￿'0￿.1-ll I,-LDCRklTION or WOIMEN'S INSI'I'ru'J'is Indep¢ndtnt examiner's roport to the trusteLS ofLincoln5hire North Iiedcralion oflVomcn'5 In5titulc% I'ihe Comp¥Thy'l I re￿rt to the ¢haTity Irustees on tny txaminolion ofiliL ￿l¢cOUnts of Ihe Coinpany for Ihe year ended 31 Ocioirr 2020. Responsibilities b#siB of rtport A5 the charily'5 Iruslces of Ilic Coinpdny land also 115 di￿￿10￿ for lh¢ putPOs¢s of cojnpaiiy lawl you Dr¢ rc5ponsiblc for I eparaiion ofih¢ 4c¢ounis in accordance with Ilic rcquiiem¢D15of Ihc Cojnpanics Act 20061'ihe 2006 Ad'l. Having saiisfjed niyseif ihai the tt¢¢ounis of lh¢ Company arc ttoi reouireil lo be audited under Part 16 of tiiB 2006 Acl ond aT¢ cli8ible for independent ex3minlltion, I report in respect of Iny cxaminalioii of }'our charily's ac¢ounlS ¢arricd oul under seclion 145 of Ilic Chariiies Aci 2011 I'ihc 2011 Aci}. In ¢arrying out my exaMin￿li0n I have followed the Directions given by Ili¢ Charity Coinmission under sedioii 145151 {bl ofih¢ 2011 Act. Indepcndcnt ¢xthminer's $i#tement I hav¢ wmpl¢t¢d my examination. I confirm ihgt no matters hav¢ come to Jny attenlion in eonn¢eiion with Ilie examination givI￿g mc cause 10 believe.. accounling recotd5 %Yere not kept in res￿¢1 ofilie Compatsy as rcqulrcd by s¥¢tion 386 of the 2006 Acl,. or lh¢ attoun15 (b noi accord with those ￿cordS,. or l]ie accounls do iiot cornply with ihe accounting tequiremenls of se¢iion 396 of the 2006 Acl oil)cr Ihan any requiremcnl th21 the accounis give a Irue aiid fair view ivhich is noi a matt¢r considered a5 part of an inde￿nd¢￿t eKaminaiion: or the accounts liave not been prepAred in occordance iviih Ilie In¢ihods and prin¢ipl¢s ol IhL St31emenl of Ilecoininended IJAdice for acwunting and reporting by chariiics lappli¢ablc lo cJ)ariii¢s pr¢pJring Ihcir llcttsunts in 1¢￿IdanCe wilh lh¢ Fi]￿cial Reporting Siandsrd applicable iii Ilie UK and Republit ufiRl￿1nd {fRS 1021). I haye no concerns and have coiiie acr(Yss no oiher Inalkrs in connection wilh I￿ examinaiion 10 ivliich ¥￿entIo17 5￿Uld bE drawn in this r¢port in ord¢r to ¢nabl¢ a proper und¢TSlanding ofihe a¢tounts to bc r¢achcd. Trislraii Russel Dexlcr & SharpE Chart¢r¢LI C¢rtifi¢d A¢wuntsnts Rolleslone House 20-22 Bridge Stwei Homwtle Lincolnshtre BA11.Ionsl FCCA LN9 5FIZ 31 Mswch 2021 l)age 7