REGISTERED COMPANYNUMBER: 02753736 (Tngland and W*le8) RECISTERED CHARITY NUMBER: 11115949 REPORT OF THE TRUSTEES AND iINAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 FOR LJNCOLNSHIRE NORTH FEDERATION OF WOMEN'S INSTrrirrES Dextsr & Sharpe Chartered certifi Accountants Rollestone House 2(b22 Bridge Str¢rt Horn¢ostl¢ Lillcolnshire LN9 5HZ
LINCOLNSHIRE NORTH FEDERATION OF WOMEN'S INSTITUTES CONfENI3 OF TKE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Page Report ofthe Trustee4 I to 7 tndependeut Examlller'5 Report St4tement of NnAndal A¢tiviti B•l•n¢¢ Sbeet io Notes to the Flnanclal Statements 11 to 16 Deted Statemellt of Fknan¢lxl A¢dvlt 17 to 18
LINCOIF4SHtRE NORTH FEDERATION OF WOMEN'S INSTITtrrES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2024 The Thte¢S have pleasute in presenting their rwt and the Federation's Accounts for th¢ y¢gr ¢nd¢d 31st October 2024. The Federntion accounts have been prepared in the format prescnljed by th¢ Statement of Recornmended Ptzctice (SORP) issued by tbe Charity Commission in March 2CK15. They deal with the tronsactions and assets and liabilities of the Lin¢o]nsbift North Federntion of Women's Instityt¢8. Pag¢ I
LtNCOLNSHIRE NORTH FEDERATION OF WOMEN'S INSTITUTES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER21ll4 ObSectiveJ The obj¢¢tives of the Fe4lertion are to fillth¢r the Purposes of the Women's Instite movement tti Lin]nth1[¢Nort alld elsewhere. To advatwx tILe education of women and girls foi the public benefit in all areos in¢luding (without limitation)... i. I, naiional and internatiottai issues of political and social importaiic¢' ll. Music. drama and other eultural Subjects" and iu. Ail branches of agriculture, crafi3, home economics. l¢ll¢¢. health and social welfaTe' b. To promote sustaithle d¢velopment for the public benefit by.. - i. Educating people in the preser10 Conservloll and protection of the envirorrnt aud the Prudent of natsll81 resour¢¢s' and li. Prornoting stainabl¢ means of hle}ng economic growth and re8¢nernti lli. To advance health forthe Pllbli¢ benefit. and iv. To advance citizensbip for the public benefitby the promotion of ¢ivi¢ responsibility and volunteering. 'Sustainable DClOpmen means developm¢nt wbich meets the needs of the present g¢nernlion without compromising the ability of futh gen¢Tutions to meet theirneeds. The Wotn¢n's Institute organisation 8¢¢ks to give women the 0pwTtity of working together in their communities. of developin8 their capa¢ity and skili4 and of putting into pra¢ti¢e those idea]s forwhich the Wom¢n's tnstibjte stands. Strategl The k¢y elements of the Cknitys medium to lonE-terni strategy COJLgiSt of... personal development and promoting lifelong learning by ensurin8 trltiOnal skills are preserve(L 2. EncouTrging Wl members to adopt hethIer, mor¢ 8ustsinable lif*les, by supporting i¢i8ur¢ activsties. the sciences and combined . Increasi the WTS iafiuenc¢ of legtslatOTS. Opinion forn]ers ond tlL¢ publi¢ at large with regard to LO1. national and international iSSU¢8 ofpoliticai, and Bocial Impor¢. and to mainkn the position as are&ptedoice of reason, tnt¢gtity and ititslligence. The Federdtion's m¢diwnto long.term strategy 18 k¢pt underTeview and adjusted to mt ¢bangiMg needs. The ThLSt¢U D)onitor and assess the $u¢c¢ss of the strategy by.." Obtsining f¢alback from membership. Maintaining contsct witb oth¢t ¢haTitie8 and other Federatio pursuing the Federation's int¢r¢sts as ayeedby the rnernp Maintsining rexords of coursel¢vents attendonce and trends therein. Princlpal ObJe¢dve4 for the Year Ended 31$t O¢tob¢r 2024 The F¢d¢ration's prin¢ip81 objectivu for the ye4r ended 31 Octob¢r 2024 We.. i) To continue to offer o wide aTange of leaming opportimitie8. ii) To provide continued support to local WIS throu8b the provision of approwiate advi¢¢ alld training. A¢hlevements and PerforniaDreJ The Events and Activities Tcam (EAT) and the tsust¢e8 Wrte able to pr¢s¢nt a full pro8me of ¢vwts ond 4Ctivities. Board of Truste TteeS met monthly at House and ntinUed to provide a Zoom Optio Lincolnshiff North. onrx again. ho8t¢d & su¢ce85ful WI Marque¢ at the LincoinsbiTe Show iti JuDe. Tnte¢S and otb¢r help8 held their popular refrbrnellt tent at the Cgningkn Steam Rally in May alld refre5bments were similarly provided at Spilsby Show in July. Page 2
LThCOLNSHIRE NORTH FEDERATION OF WOMEN'S INSTrnrrES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2024 Members Advlsory Commlttee Lincolnshire North F¢d¢rntion nlse. 53 Wls. approximately 161K) members. One WI fornied during the year. Events Committee As 202312024 ende4 the Events & Activities Team Comwised of twelve nbers. nsisn8 of ten Mernbe appointed by the Board of Thtss. and two Federntion Tntstees. The purpose of the team is to provide a Mde variety of ¢v¢nts ¢ovtting Art& Leisur4 s[vACtivIties, Social Awareness. Cultur¢ and Topic81. Each ev¢nt enables members and non.memb¢rs to particip&tr in a subject they may otlMwise not hav¢ gn opportiitllty lo expcriM¢e. Dwin8 the last year events have iti¢lud sausige making workshops, bigh mpes adv¢ntrtr¢s. * visit to a dally faTll4 and carriage driving. There we coach trips to Castle Howarf Harn)te Sill8 Flower Show and Toletho¢ Theatre. A science day. churches tour aud knurder huTht' were all hu8¢ly p)pular. Crth cl&ss¢s offered at House bave includ¢d a series of knitti workshops, 'free motion, ¢mbroid¢ry usitig th¢ FederntioL's sewing Th¢8¢ events help with our &in)s to 4ll¢vi4te lonelines4 encoutage social Interactio and provide edu¢ationd opportiJDities. Events across a broad cost-ran8e are provide¢L Any profit from the ¢v¢nts ¢ontribut¢ to the FedeRtion costs. as well as building res¢rve5 to protect the organisation from the risk SOcIated with income and cost fluctualions. Goitig foThv into 202412025. EAT have over 30 events plall&l cov¢ring nwiy subjects. STrATEGY The Fd¢rats"on'8 medium to long.terni strategy 1$ W under review and adjust¢d to ]e¢t the chanll8 needs and the ext¢nt to which ne¢ds have been met by perforn]2n¢¢ in precedingperiods. i) To Continue to offer a wider range of le8rning opportillllties to ¢)OUr8e p¢r80nal development alld ]ifrlong l¢aTntJg and to improve ew and traditional skills. ii) To conlinue to en¢ourage WI membeTS to adopt h¢th1¢r. more su8Iaible lifestyles, by supporting leisure actTvities, the scierkces d combiaed art5. Ill) To dejiver members, skills into th¢ con]tnurrity wherever thcy are rtquited iv) To increa membernbip. by opening new W15 wher¢ possibl< and to sustain present m¢mknthp by supporting and encouraging established WIS. Governlng do¢ument The chartty is Controlled by its governing document (dated 07 October 1992), & deed of tru8L and constitutes a limited company. limited by guarantee, as defin¢d by the Companies Act 2006. Pa8¢ 3
LINcOIsRE NORTH FEDERATION OF WOMEN'S INSTITUTES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 ocfoBER 2024 STRUCTU GOVERNAI¥CE AND MANAGEMENT The Lin¢o]nshire Nortb Federation of Women's [nstite$ represents the WI movement in mid.LincolnshiTe and e]sewhere. The ITrIFWI CODsists of 53 WIS representin8 a m¢mb¢tsh4J of just under 1.6W womfflL The LNFWTS role is to COrdinate and focus tb¢ activitic8 of the movement with each local WI and repres¢nt tbcir vkews to th¢ National Council of the National Fedeftxtion of Women's InltuteS INFWD wbich meets at least annually foT sbapitig policy And strategy and deterg campaign statt¢¢s. In addition, each WI is represented at the LNF Annual Me¢tiD8 al NFWI'8 Annual M&t]ng (AM) therebyproviding an additiollal channel of COMMUCatiOn. The LNFWI'S ConstitiOn is set out in its Memorandum and Articles of Association . CA)pies of which ¢ao be obtsitied fmm tbe Compan5 registered office or from Comp8tiies House. Under the tern of Memor8ndum god Articles: . i. A of £1 is providsj by each of the companls members. The Board of Tnths shall consist of at least et and not more than L5 petsoDs elected in aCcOrde vlith Articles 44 to 47. iii. Th¢ Board of Trustees is elected for thre¢ y¢ars by the nmnbersbip. iv. All offi¢ers to be elected at tbe firstmeetin8 of th¢ n¢w Board of Tnte¢s. indepentht tellers to be Sed rfrequire Polleles & Pro¢edures for TralDlng and Induedon of Tnmteej Following electio the men)b¢rs of th¢ Board #re inducted to the responsibilities of & Trust¢¢ through th¢ NFWL If tlfft are no suitable calldidates for a splfi¢ role eg Treasurer, a ¢wtion of a suitable person with th¢ requisite skllls maybe made. C¢wtions to be tbe terni of offe of the Board of Th. Follory elections. members of the Board may attend training cou8 for their specific roles. Orglnisatioll Stru¢ture of the Cbrity Ind how dethlons are made The Board m¢¢ts ¢1¢ll times a year. FirLancial updat¢S and budget r¢views forn) part of the monthly Board meeting ag¢nd4 and Tnte¢S arc briefed by the F¢d¢rntion Treasurer on all aspxts of the Fed¢ration's ful8¢S. budget plans fjjnd rdising and grant app]icatiOts8. Additio worknng ci)mnllttees operate for each of the FfAeration's main areas of &¢tivity with members of the Board of Th]stees or suitsble candidates appointed by th¢ Board of TTU8tee8 acting as Cbainnen of these ¢ommitt¢e5. These committee5 are.. Events and Adivitie5 Team Litt]nShir¢ Show Ad-Hoc CoD]mit¢ The followitig matters requiT¢ Board approval... The Arnuai Budget R¢seTVe5 Po]icy Capi1al Expenditure Investrnent Poli¢y OD the recommendation of the Board of Thtstees The Risk Re8i$t¢r Th¢ Annual Finallcial Statement Page 4
LtNCOLNSRTrE NORTh FEDERATION OF WOMEN'S INSTrrurES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 ooBER 2024 STRUCTURE, GOVERNANCE AND MANAGEM Rlsk Man•2wnellt Polley Througb tbe activitie5 of the Boar4 and the separate w0]ng Groups, tbe TDJstees have considered tbe principal risks to which the Fed¢rntion is expos including the risk to the Charity'8 finallei position4 premi8¢s and reputation, and have Inlemented lIe1¢S to Control these risks where deemed necessary. A rcvi¢w of the risks confrontitig the Federation is uttd¢rtsk¢n on a r¢gulor basis. The principal risks. whi¢h ¢onfrontthe Federatioo consist of financial Tisks andreputstional risks. The Federation is exposedto awide ronge of finwiai risks. wbith indud¢ th¢ risks of loss¢s ls1)8'. From fraudulent a¢tivities of third parties As a result of breaches of law or ffgulations. which could ¢xpose the Federntion to Ios8e8. arising frorn penalties and damages From the Federation uoable to meettheir obli8atiolls The Fedmtion controls these iisks by implementing sound governance and maintsining ri8orous financial controls. A segregation of duti¢s exists between the chlin of the BoaTd and the Company S•, with the chaIrn of the Board being Te5ponsible for th¢ ¢ondu¢t of Bo¥rd Meetings. whicb detenDine policy and strategy* whilst the Company Secretary is responsible for the day.tr&Y JD8nwent of the Cbaritable Company and the implenKntstion of Board deterniined strategy. The controlled environment in which the Federation operates is considered robust and includes ensuring gn ad¢quate segre8ation of duti¢8. do¢umented authwisation procedures, budgetary controls and multiple signatory Controls over payments. The Federation monitors Accou receivabl¢ dosely takes prompt follow-up a¢ti¢)n WI receivables become overdue. Adquate iDsuTrnce is mAintsined to cover ail risk8 to Federntion property and the Board puiodic8lly reviews the Federation's insur The Federation is conscious tbat ajy domge to its reputstion bave implications for theWI movement as a whole. Page 5
LINCOLNSHIRE NORTH FEDERATION OF WOMIN'S JI¥STrrtrrES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2024 REFERENCE AND ADMINISTRATIVE DETAILS The Linco]n8hir¢ North Federatioa of Women's Institutes is a COMPANY LItfrrED BY GUARANfEE AND NOT HAVING A SHARE CAprrAL (Compally No. 2753736) Itis a]so aTegisternl Charity No. 1015949. R¢8iStcrcd alld Principal Office is Wl Hous¢. Bath Strrf Homcastle. Lincs. LN9 5BW. Angela Borntsn Jean Burgess Paula BuTtett Janet H4Tti8on (Vice Cha]rn) Gill PUeY MaTia Scott ykIe Summ¢ BarbaTaYoung DAY to d&ymaDagement of th¢ cb8rAtable company is dekgated to the Compally Secretsry. Jessica Rawdon. PROFESSIONAL ADVISORS Aeeountsnts Dexter & ShaTpe Chartered Certified Accountants Roll¢stone House 20-22 Bridge Street Horncastle LN9 5HZ Bnken HSBC IA)uth LNII 9QB
LINCOLNSHIRE NORTH FEDERATION OF WOMEN'S sThTUTES REPORT OF TRUSTEES FOR THE YKARENDED 31 orfoBER 2024 FANcL REEw The SOFA (statement of fin1&1 activity) indicates that the Fthtion had & IS successful year financially. This was primarily driven by th¢ flooding in Hornwtle in October 2023, which cawed damage at Wl House. The repairs had to be financed through our extsting r¢seryes, as tbere is no flood insurance cover for the building (¢onrnon with many properties in H0rn¢0Sti¢). The Tnte¢S an OV¢tspend for the 202312024 finaacial year to cover the ¢08t of these repairs. Aside from this utt¢xpected event expenditure continuol to be kw down wherever possiljle. For ¢xamplc, we contiJLue to hold hybrid meeiings to rdu¢e transport costs. Regular budget upd4tes were given to the Board of TnLqt¢¢8 at monthly meetings. Affiliation fees continue to be a key source of income forth¢ Fed¢rntion. Membersbip is showing a downwaTd trend and this needs to aTlysed more thorougbly and platss develop&a to 5tabilise the position. The ineome delivered by tbe Events A¢tivitie5 Team (EAT) provided a significant contrib1( to the Federdtion's fin8nc¢s ov¢r the Gifts to Go stc¢k was s¢nt out to individual Wls and b&$ 8]so b¢en available to pthsc at E8rger ¢v¢nts or8gni8ed by EAT and the Tn. Together with the sal¢ of Calendars and diaTies. tbis provided w¢l¢ome additional iT1con. The investment fundq have performed well during the year, which has helpoj the fJnanci81 po8itioty but this incorne CaDnot be reli on each year os th¢ malket position can cballge sigoifi¢atttly during any 12 month period. Unfortunately, income from the letting of Wt House fell to zem during the financial year, due to the tbod danuge. Now that th¢ repairs hav¢ been completr4 thebuilding ¢att be promot1 as avenue to renL The c05t of uti]ities conknues to increase, and th¢ Board of Trustees review5 energy provid¢rs on a regular basis to ensure the Feduation uli]ised the mo$tb¢neficial tsrifh. Jnternet bgnbng contitiues to incr¢w. with more now choosin8 to pay for events using this methol thereby helpin8 reduce bankin8 cbar8es. A sumw of in¢om¢ attd expendibjre for th¢ year is included with this ryrt ajd the set of accounts are &vailable to membets on tequesL at WI HOt. Homc8StIe. Reserves Pollcy Th¢ Federation requir re&erves to allow it to continue work in COnntIon with th¢ promotion of the interests of women (as $Tfied by the F&leration'8 Conslitution) in the ev¢nt of unforeseen disruptions to its in¢oTne streams. The Tr$ Consider holding unrestricted reseryes eqw'valent to six month's expenditure oplimal. Budgetary discipline will wntinue to be applied to ensure th¢ restri¢ted reseTYes are maintained atthe optimal level. The Federation re¥erves policy is reviewed annually bythe Board of Trustees. Approvedby order of th¢ board of tswtees on 10 Marrh 2025 and signed on its behalf by.. P Buett. Tnle¢ Page 7
INDEPENDENT EXAMINERIS REPORT TO THE TRUSTEES OF LINCOLNSHIRE NORTH FEDERATION OF WOMEN'S STr[urEs Ind¢pendent enmlner'b report to the trustees of IAn¢olnihire North Federatlon of WomtD'i IDJtitsts (lthe CompAlly') I report to the cljarity tnth on my examinAtion of the accounts ofthe Compony forth¢ year endeA 31 October 2024. ResponslbilitleB and b•sls of report As the c1w18 trustees of th¢ Company (and a150 its directory for the pU05<S of company law) you are tesponsible for the preparation of the a¢¢ounts in acC4)r with the requireMts of the Comp Act2006 Cthe 2006 Act). Having satisfied myself that the accounts of the Company are not required to be auditrd under Part 16 of the 2(M)6 Act and are eligible for independ¢nt Cxalni0 I report in rwe¢t of my exBMiOll of your ¢haTiWs accounts as carried out under Seclion 145 of tbe chariti A¢¢ 2011 Cthe 2011 Ace). In Carrying out my exomiJMtion I Iwv¢ followoj the Directions given by the ChaTity con)mi10n under Section 145(5) 0)) of the 201 l ACL Independ¢nt eumln¢VJ statsment I have completed my examinatiofy I confirni 1hat no matters bav¢ me to my attention in conn¢¢tion with tlke examination giving m¢ cause to believe: accounting recordg wtre Dot kept in respect of the Company as required by Sedion 386 of Ihe 2006 Ac¢. or the accoullts do not accord with those records" or the ac¢outtts do not comply with the a¢¢ounting ro]uirements of S¢¢tion 396 of the 2CX)6 Act other than any requirrnt that tbe accounts give a true and fair vi¢w whi¢b is not a nutter consid¢r¢d as part of an independent ¢xamin4tion' or th¢ a¢¢ounts have not been prepared in accordance with the methods and principles of tb¢ Statement of R0mMended Prnctiee for accounting 8nd reporting by charlties (appIlble to clwities preparing their accounts in accordan¢e with the Financial Rwting StandaTd applicable in th¢ UK 8nd Republic of Jreland (FRS 102)). I have no ¢4)¢m$ ¥ttd htve come a$$ ]ko other mattus in Connection with the examinll to wbi¢h atteJ)tion sbould be drawn in tbis Tristran Russell BA (Hon8) FCCA Dexter & shPe Chartered Certified Ac¢ount*Thts Rollestone Howe 20-22 Bridge Str¢¢t Horncastie Linco]nshire LN9 5HZ 10 Matth 2025 Pag¢ 8
LtNCOINSHIRE NORTH FEDERATION OF WOMEN'S L¥STITufES STATEME OF FINANCIAL AcrivrriES FOR THE YEAR ENDED 31 OCTOBER 2024 2024 Unrestricted fundB 2023 Totsi Notes COME FROM Donlon5 and legacies 17Jl)O 17,624 ChArltsble activltles SuppoTting Wt branches 57228 43.555 Other trading activities Inv¢8tment income Other incom¢ 7,902 4J75 2,430 11,039 564 Total 89235 72.782 Raising bjnds 7rt16 4,182 Charlt*ble aetivltleB Supportin8 branches 83.129 71.976 1140 1060 Totsl 92,685 78.218 gains on inv¢8tsnents 811 980 NET INCOMEI(EXPENDITURE) {2,639) (4,456) RECONCILIATtON OF FUNDS Totsl funds brought forWd 247,660 252.116 TOTAL FUNDS CARRIED FORWARD 245.021 247.660 Th¢ notss fonn part of th¢s¢ fjnancial statements Page 9
IJNCOIJ4SHtKE NORTH FEDERATION OF WOMENIS INSTITUTES BALANCE SHEET 31 OCTOBER 2024 2024 Unrestricted funds 2023 Total Notes FIXED ASSETS Intangible assets Tan8ibl¢ assets Investtnents 25 155,791 60A57 329 152.273 56,081 io 216373 208,683 CURRENT ASSETS Sto DebtOTS C&sh at baDk and in hand 12 13 1,780 1549 45,717 3.132 lJ42 49.864 49,046 54.338 CREDITORS 14 (20298) {15,361) NET CURRENT ASSETS 28,748 38,977 TOTAL ASSETS LESS CiJRRENT LIAB]LTfiES 24S021 247,660 NET ASSETS 245,021 247.660 15 Unrestticted fimds 245,021 247,660 TOTAL FUNDS 245,021 247.660 The ch8rAt&ble company is entitled to ¢xemption from audit under S¢¢tion 477 of the Companies Act 2006 for th¢ year ended 31 O¢tob¢r 2024. The members have not required the compw to obtsin an audit of its flnancial stat¢ments for the year ended 31 October 2024 in accordance with Section 476 of the Compani¢8 Act 2(I)6. The tn acknowledge theirresponsibi]ities for (a) ell5uri that th¢ ch4ril4ble compally keeps ac¢ountiDg records that comply with Sxtions 386 and 387 of the Compani¢s A¢t 2006 and prepry fJJ)¥n¢ial statements which give a aJd fair view of thc stat¢ of affairs of the clwitable wnp8ny 98 at the end of each financial year and of its SUTplus or deficit for each financial year in a¢cOrdan with the requiretn¢tits of Sections 394 and 395 and which Otberwj comply with the requirements of the Companies Act 2006 relatitig to financial statements. so far as applicable to th¢ chaTitsble cornpBny. (b) These financial $tat¢rnellts have been prared in a¢coTdance with the provisioDs applicabk to charitable ¢ompanies subjKt to the small conu)otiies r¢8im¢. Th¢ fman¢xal statements wer¢ approved by the Board of Tnte¢S and authorised for issue on 10 mp 2W25 aad were signed on its behalf by.. P Burrett. Tn The note5 form part of these fi]h8nciai statements Page 10
LINCOINSHIRE NORTH FEDERATION OF WOMEN'S sTlTEs NOTES TO THE VtNANCIAL STATEMENrs FOR THE ITAR ENDED 31 OCTOBER2024 ACCOUNfiNG POLICIES Ba51B of preparlng the flnanclal gtstsments The fuhancial ststements of th¢ ¢horit&ble company. which TS a pub]ic beThefit entity under FRS 102, bave been Prepared in accordanee with the Cl)aTiti¢s SORP IFRS 102) 'Accounting and Reporting by Charities: Ststenmlt of Reeonllnended Practice applicabl¢ to chariti wepating their accounts irL accordallce with the Finallcxal Reporting Stsndard appli¢abl¢ in the UK and Republic of Iffland (FRS 102) (effedive l January 2019),. Financial Reporting Stsndard 102 Thc Financial Reporting Standard applicable in the UK and Repub]ic of ITe]and' and th¢ Compatiies Act 2006. The finaThcial statements have been prepared under the historical ¢ost Convention. with the exceplion of inveslments which are included at Rnark¢t valu¢ as modified by the revaluation of certain asset5. IDeome All income is recognised in the Ststem¢nt of FinaD¢ial Activities once the charity has entitlement to the fimds, it is probable that the inc4)me will be received gnd th¢ 4mouoI can be measured Teliably. The largest income stream comes from affiliation fee and the remaind¢r of th¢ in¢om¢ is from attendance at events where the memb¢rs of the Women's ]nstityt¢ provide refreshments. aod from the sale of Publiclons and other related items. E4)¢nditure Liabilitie5 are recolis ¢xpendityrt as soon #8 there 18 a legaI or Constructive obligation committing the charity to that expendittlle. it is probable that a transfer of economic benefits will be required in s¢ttl¢m¢nt and th¢ amount of the obl7gation can be m¢&sured reliably. Expenditure is account&J for on an accruals b¥1$ and has be¢n Classified under headings that aggr¢gat¢ all $t related to the category. Where costs cannot b¢ dire¢tly attnThuted to particular heading8 they have been allo¢atedto activities on a basis consistent with the ¢ of r¢sour¢¢s. Irrecoverable VAT is ohar8ed as & cost against the activity forwbich tbe expendilure was incuned Ratslng fuDd8 Raisiug funds includes expenditr in¢urredby the chatity to atlTrct income for its charitable puw. Chgrltable ¢dvltle5 expenditure Supporting Wl branches includ¢8 those ¢08ts in¢uTred by the charity in the delivery of its activiti¢s and $¢rvi¢es. It in¢lud¢s both costs that c4n be allocated dir¢¢tly to su¢h activitie5 and those costs of an indirect nttes88ry to 8llPPOrt them. Intle fixed asjets Websit¢ amortisation is provided at 33.33% on cost in order to wtite off the asset over its estin)atedusefill lifr. Tnglble fixed *wts Depreciation is provided atthe followiag annual rnt¢$ in order to write off each asset over its estimated useful life. Fr¢¢holdpropety Plant and machinery Fixtires and fittings I•A on ¢08t 15Uh on reducing balance 2/0 on cost 8Thd 15% on rIngbA1attce TlI10n The cljarity 18 ¢x¢mpt from cotporation tsx on its oharitable activitie8. Fllnd aecoundng Unrestricted funds can beused in accordance with th¢ charitable objectives at the discretion of th¢ trwste¢s. Restric fimds con only bc used for particular restiicted purposes within the objects of the Chlty. Restrictions aris¢ wl specified by th¢ donor orwhen fits are raiged for parkn¢ular restrictedpuTpo&es. Further explanation of the 80d puryJ8e of each is included in the not¢8 to the flnancial statements. Illvatments Fixed asset inveslments are stated at valuation as at 31 OctobeT 2024. Pagell continued...
LINCOLNSHIRE NORTh FEDERATION OF WOMEN'S INSTTrtrrES NOTES TO THE FINANCIAL STATEMEwfs. ¢onthiMed FOR THE YEAR ENDED 31 OCTOBER 2024 DONATIONS AND LEGACIES Income from government grants con4)ris¢s of a Brant from The Big Lottery to fulld the conslTUCtion of a car puk at WI House. This Incon is b¢inB r¢l¢ased to the Statement of Fin8ticial Activities over the expected life of the asseL OTHER TRAD]NG ACTIVITIES 2024 2023 blt¢ations Lettings 7A33 8.917 I,oio 1,112 469 7,902 11.039 INVESTME ThCOME 2024 2023 4J75 564 OTHER INCOME 2024 2023 Donations received on behalf of a 3rd paty Donations received 1367 1.163 2A30 NET INCOMFJ(EXPENDITURE) Net in¢omel(expenditure) is stated 8ft¢r ¢hargillty(¢rediting): 2024 2023 Depreciatiott- owned 485ets Deficit on disposal of fixed assets Website amoTtisation 1919 2,819 1,109 304 2,060 304 2,140 TRUSTEESI RE[UNERATIoN AND BENEFITS There were no tswtees, temunerdtion or other ben¢fits for the year ended 31 October 2024 nor for the yegr entsj 31 October2023. Tnwt¢es' travel expendi of 4126 (2023: £2269) wa5 paid during the year. Page 12 conlinued...
LINCOLNSIIIRE NORTR FEDERATION OF WOMEN'S INSTITUTES NOTES TO FINAI¥CiAL STATEMENTS. eonthiued FOR THE YEARENDED 31 ocfoBER 21)24 STAFF COSTS 21124 2023 Wages and sBlaTies 16W2 16209 16209 The av¢rag¢ monthly number of employees dwing the ye8rw&s a8 follow5.. 2023 o- 10.000 10.001- 40.Th)0 No employees received emoluments in eXS of £60,(M)O. INTANGIBLE FIXED ASSETS Website COST At l Novernber 2023 al 31 October 2024 911 AMORTISATIO At l November 2023 Chars¢ for year 582 304 At 31 October 2024 NET BOOK VALIJE At 31 October 2024 25 At 31 October 2023 329 io. TANGIBLE FIXED ASSETS Fixttwes Freehold PTopety Plant and fittings Totsls COST At l Novembu2023 157ffj56 21,631 I5 5,641 5,100 184928 645 At 31 Octob¢r2024 Is756 23,176 l(J.741 I9173 DEPRECIATION At l November 2023 Charge for year 14,013 I77 17J56 656 1286 32,655 1919 208 At 31 October 2024 IS90 14012 2.180 35,782 NET BOOK VALUE At 31 October 2024 142.066 5,164 S1 155,791 At 31 October 2023 143,643 4.275 4J55 152273 Page 13
LINCOINSHtRE NORTh FEDERATION OF WOMEN'S INSTITUTES NOTES TO THE FINANCIAL STATEMENTS. contlnmed FOR THE YEAR ENDED 31 ocfoBER2024 ii. u1Sted inveslments At l November 2023 Revaluations 5&081 4J76 At 31 October2024 60A57 NET BOOK VALUE At 31 October 2024 60A57 At 310¢ts)ber 2023 56,081 There were no investment &wets outside the U 12. STOCKS 2024 2023 Stocks 1,780 3,132 13. DEBTORS: AMOUNTS FALLING DUE wmuN ONE YEAR 2024 2023 Prepayments 1¥9 1.342 14. 2024 2023 Otber ¢reditors 2J64 000 11.934 6.500 8.861 Acavais and re£eipts in advance 20298 15,361 Deferred income compri5¢8 of The Big Lottery wt Te£eived for th¢ Car paTk at WI Houq¢ and xs being released to incom¢ over the course of twenty ye8TS. 15. Net TTansf¢rs At i.l 1.23 At 31.10.24 UDrntrl¢ted fun Fe(krntion fimd Federation re8eTV¢ 217,660 30,000 (2.639) {iO.ODD) io,ooo 201021 40,1100 247,660 (2ffj39) 24&021 TOTAL FUNDS 247 (1639) 24S021 Page 14 continued..
L]NCOLNSHtRE NORTH FEDETION OF WOMEN'S ThSTrruTES FOR THE YEARENDED 31 OCTOBER 2024 15. MOVEMINf JN FUNDS. eontlnued N¢tnkovement in fill5, included in tb¢ above are a8 follows: Gal5 ond losses Mov¢ment resources Unrejtricted fun Federntion fund 89235 (91685) (2,639) 89235 (94685) 811 (2,639) Comp#radves for movement ID fulldi Net movement in fjjnds At 1.11.22 At 31.10.23 222,116 30, (4,456) 217.660 30.000 252,116 (4.456) 247,660 252,116 (4,456) 247,660 Comparative n¢tmovement in fillKls, included in the above are follwws.. Moveme expended losse$ Unrutricted fimds Federation fin 72,782 (78,218) 980 (4.456) TOTAL FUNDS 72,782 (78.218) 980 (4.456) A ¢utrentye8r 12 months andprioryeor 12 month combined po&itioTh is as follows: Net movement in fimd Transfers At 1.11.22 At 31.10.24 fjjnds Unrestrleted thndi FedeTrtion fund Federationr¢8¢rye 222,116 30.OIK> (7,095) (lo.)0) io.Th)o 205,021 40,000 252.116 (7.095) 245.021 TOTAL Ft)NDS 252.116 (7.095) 245.021 Pag¢ 15 continued...
LINCOLNSHIRE NORTH FEDERATION OF WOMEN'S INSTITUTES NOTES TO TH Fll¥ANCIAL STATEMENTS. conthiued FOR THE YEARENDED 31 ocfoBER21)24 15. MOVEMEiYf IN FUNDS. conthiucd A year 12 months ondprior y¢or 12 months Combined net movemejtt ill filllds. inclu in the above are as follows.. expended 1088 Ullre8trirted funds Federation fund 162,017 (170.903) 1.791 (7.095) TOTAL FUNDS 162,017 (170,903) 1.791 (7.095) 16. RELATED PARTY DISCLOSURES There were no r¢lat¢d paty transactions forthe year ended 31 October 2024. Pa8e 16
Lll¥COLNSHIRE NORTH FEDERATION OF WOMEN'S INSTrruTES DETA]IED STATElENr OF Fll¥ANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2024 2024 2023 COME Don#tlonJ and kgAcles 51MI 16,81J) 500 17,124 Subscriptio 17JOO 17.624 Other tr•dkng acdvldeg Publications Letbngs 7,433 8,917 1.010 1.112 469 11,039 Inve8tmettt income 4J75 564 Ch*ritable Acdvll 52145 4J83 35.733 4.432 3.390 Annual meetin8$ 57228 43.555 Other income Donations received on behA]f of a 3rdpAty Donation$ Te1ved 1207 1.163 1430 Tot•1 In¢onthig resourcej 89,235 72,782 Other trading actlvfiilel 3,132 0,064 (1,780) 1298 6,016 (3.132) Publications Closing stock 7.416 4.182 Ch4rltsble 4¢tlvltleB Wages Ratrs, ligbt and h¢at I682 3J07 iJ94 1,759 5007 163 1.471 2J50 2,126 34,959 16209 1,866 1.882 1270 5.373 163 474 Telephone and postsge Printing and stationery Advertisiti¥ Sundries Trnl 2269 32.150 This page does not fonnpart of the statutory financial statements Page 17
IJNCOLYSHIRE NORTH FEDERATION OF WOMENIS ThSThTUTES DETAILED STATEME OF FINANCIAL ACTIVITtES FOR THE YEAR ENDED 31 ocfoBER 2024 2024 2023 Charltable a¢tlvilleb Brought foTw8rd Annual meelings Cost of events Donations collted on bebalf of a 3rd pgty Amortisation of intsngibl¢ fixed assets Depreciation of tangible fixed assets Loss on sal¢ of tangible fixed assets 34,959 3,661 39,560 1267 304 2.919 32,150 7234 28,107 304 2.819 1,109 253 251 83,129 71,976 Other Accountancy and le1 f¢es 2,140 92,685 78218 Net expendlture before gains and 105WJ (3,450) (5,436) Re*]i5ed rgnts¢d 4nd lois Reaiised gaoSseS) on fixed asset investments 811 980 Net expendlture (2,639) (4.456) This page does not forn]part of the statutory financial st&t¢m¢llts Page 18