FOR THE PERIOD ENDED 31sf OCTOBER 2024 STJOHN'S HOUSE 5 SOUTH PARADE SUMMERTOWN
FOR THE PERIOD ENDED 315f OCTOBER 2024 Page Legal and Administrative Infonllation Trustees, Annual Report 2-3 Statement of Trustees, Responsibilities 3A Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to Ihe Financial Statements 7-13
FOR THE PERIOD ENDED 31" OCTOBER 2024 Mrs M Bakewell Mrs C Blaxhall Mrs H Dix (Treasurer) Mrs J Finnerty (resigned 191h March 2025) Ms J Kingdon (resigned 13ili December 2023) Mrs L Mustill (Vice Chair) Mrs K Shortland Mrs T Strain (Chair) Mrs E Wilson (resigned 20th March 2024) Mrs V Wilson D Black (appointed 22nd May 2024) S Griffey (appointed 19111 June 2024) Secretary.. Mrs V Wilson 1019967 02775236 5 Court Farni Barns Medcroft Road Tackley Kidlington Oxon OX5 3AL Mrs H C Fanthome FCA King Loose & Co 5 South Parade Oxford OX2 7JL The Co-operative Bank plc PO Box 250 Delf House Skelmersdale WN8 6WT Blake Lapthorn, Oxford
ANNUAL REPORT FOR THE PERIOD ENDED 31- OCTOBER 2024 The Board of Trustees presents their report and the accounts for the year ended 31 st October 2024. Reference and administrative information These details are shown in page l. Strueture, Covernanee and Management The charity has adopted Memorandum and Articles in place of a trust deed. It is a private company liinited by guarantee with each member guaranteeing £1. The members of the charitable company's Board of Trustees during the year were as follows.. Mrs M Bakewell Mrs C Blaxhall Mrs H Dix (Treasurer) Mrs J Finnerty Ms J Kingdon (resigned 13 December 2023) D Black (appointed 22 May 2024) Mrs L Mustill (Vice Chair) Mrs K Shortland Mrs T Strain (Chair) Mrs E Wilson (resigned 20th March 2024) Mrs V Wilson S Griffey (appointed 19 June 2024) Every two years the Trustees are nominated and voted onto the Board by Wl members of the Federation. The Board of Trustees has assessed the major risks to which the charity is exposed and is satisfied that systems are in place to mitigate these risks. Objectives and A¢tivities #nd Public Benefit The principal activity of the charitable company is that of furthering the purpose of the Wl movement in Oxfordshire and elsewhere. The Oxfordshire County Federation of Women's Institutes (OFWI) exists for the benefit of 117 Wls within OxfoTd5hire and is a member of the National Federation of Women'5 Institutes (NFWD. It offers these Wls a mixture of eveTJts fulfilling our educational brief. The Trustees, in exercising their powers and conducting their duties, have paid due regard to the guidance on public benefit published by the Charity Commission. They have satisfied themselves that their approach complies with this guidance. Achievements and Performance Once again this has been a very positive year with an increase in activities being provided for Oxfordshire members and with an increase in attendance at events which offer a safe. warni and welcoming environment. Membership is beginning to gradually increase after the effects of the last few years. Events are well supported with some events being over-subscribed. For details of forthcoming events please contact our office at Tackley or visit our website www.oxfordshirewi.co.uk or Facebook iiiii.'ii.'. l LILL,li()i)l.. Holidays continue to be popular and of benefit to those members who rnight not feel confident to holiday alone. Several training events take place each year to support Wl comrnittee5. The OFWI Annual Meeting at Worton Hall saw an increase in attendance on the previous year. The Board of Trustee5 and Wl Advisers continue in-person visits to offer support and guidance Wls. All Trustees and Wl Advisers welcome the opportunity to meet with Members across the federation. Gift Aid has been very Success1. continuing growth, with 91 Wls allowing us to claim our OFWI portion, this is 77/0 of all our Wls.
ST ANNUAL REPORT FOR THE PERIOD ENDED 31 OCTOBER 2024 Financial Review The total income raised during the year was £193,310 (2023.. £143,253), expenditure was £164,477 (2023.. 152,496) and investment losses were £3,868 (2023 loss.. £17,874), giving a net surplus for the year of £24,965 (2023.. deficit for the year of £27,117) This has increased the reserves of the Charity to £463,175 at 31 st October 2024. Reserves policy The Board of Trustees reviews annually the amount of free reserves held by the Charity. These should be adequate to cover working capital and a Contingency for unforeseen costs. Proceeds from the sale of the property have been designated as a special reserve to generate income to support Ol¢e provision. The interest is currently supporting rented accommodation and the fund retained to support future office provision wliether by way of rent or purchase. The committee considers the Cuent level of free reserves (excluding fixed assets and designated funds) of £70.707 to be adequate but not excessive. Investment policy Funds are retained to generate income to support revenue expenditure. The greater percentage of invested monies is placed with COIF and this met the Trustees, wish to avoid risk although foregoing possible capital appreciation. This policy is however being reviewed. The charity has £162,849 invested in the COIF property fund. Plans for future periods The Board of Trustees is reviewing Oxfordshire Wl's operating strategy with a view to meeting the changing needs of modern members. Key Management Personnel Remuneration The Trustees consider that the key management personnel of the charity comprises the Board of Trustee5 a5 they are in charge of direc¢ing and controlling the charity and running and operating the charity on a day to day basis. All Trustees give of their time freely and no Trustee remuneration was paid in the year. Details of Trustee expenses and related party transactions are disclosed in note 1710 the accounts. Trustees are required to disc105e all relevant interests, and in accordance with the charity's policy, withdraw from decisions where a conflict of interest arises. Related parties In carrying out its activities the Oxfordshire County Federation of Women's Institutes (OFWI) follows policies laid down by the National Fedei'ation ofwomen's Institutes (NFWI). as do all other County Federations. OFWI collects, and passes over, affiliation fees on behalf of NFWI. This report has been prepared having taken advantage ofthe small companies, exernption in the Companies Act 2006. On behalf of the Board of Trustees Mrs T Strain Chair
3A. FOR THE PERIOD ENDED 31- OCTOBER 2024 The Trustees are required by law to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the Charity, and of its results for that period. In preparing those financial statements, the Trustees are required to.. Select suitable accounting policies and then apply them consistently. Observe the methods and principles in the applicable Charities SORP. Make judgements and estimates that are reasonable and prudent- State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy al any time the financial position of the charity, and to enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities Act 201 l and the applicable Charities SORP. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable Steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements. By Order of the Board of Directors and Trustees Mrs T Strain
I report to the charity trustees on my examination of the accounts of the incorporated charity for the year ended 31 st October 2024 which are set out on pages 5 to 13. Responsibilities and basis of report As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the account5 in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company's accounts &8 cTled out under section 145 of the Charities Act 2011 ('the 2011 Act.). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 201 l Act. Independent examiner's ststement I have completed my examination. I confirni that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act. or 2. the accounts do not accord with those records. or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination. or 4. the accounts have not been prepared in a¢¢ordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to harities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matter5 in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. King Loose & Co StJohn's House 5 South Parade Summertown Oxford OX2 7JL H.C. Fanthome FCA IiJ'& r Dated
IIF. R 81[[REc.011NTy FFDEMTION OFWOMKN>S INsfTTirrES STATF.hlF.NT OF FINANC.IALAcfivITIE. INC.ORPOR,ITINC AN INCOF41 FOR TIIL YEAII ENDED 31AI ocfoBER 2024 Totsl 2(r14 Total 20LI Fund Typp.. Unrojtritt DeJignAiwJ Rutrietcd Endowni¢ni Unnylri¢t DJEtC RLYtri¢id EAdDwthent ncamc from.. 7.899 13.096 14.347 Membersliipsubscnptions SU)ltICe activilics 40.727 40.7?7 116.980 39.263 72.084 39,263 72.084 Sal Sundry Iii¢oin¢ 2.675 2.675 3,245 288 14.026 288 19.674 19.674 Tot1 incomcaDd eThdownierJtJ 3.699 Expenditure OD.. l.Yi>¢iNlilitrL' Sub-commiiicea¢tlvlliCS Esthblislimenl Project exwndilurc& butsaries Support£osls 83.356 83.556 18.970 2.329 49,?67 49.267 Goods for e Jss 355 Total rwvurcej eipEndeTJ 164.477 150.326 152.496 N¢tifseom¢ll¢xp¢nditurel fDr Ihe period before .362 ?8.833 (10.772) U115Cd {losscsyyaiiiSOii InVc51mLnt &%sets Net lnt0mdltxptnI¢rcj for Iheppriad brorE trRn$f¢rs 'Iraiisfcrs b¢¢¢ funds 23.162 24.965 Nei 5.658 13.868) ?4.965 17.6331 rund b81an¢es brou&phi fotwjrd 19.W5 22.677 438.210 27.538 410.689 24.287 465.327 bl**¢¢s earrlcd forw•rd 45.563 388.947 25.851 19.905 391_.815 27.677
TTIEOIPORDSIIIRF.COIINTY FF.DF.RA TI IN8TITirrF.S STATEMENTOF FINANCIAI.ACI'lVI'rib'.' nttNbRAI'INC AN INcOlF. AND FXPFNDITIIRF ACCOIIN FOR TIIF. VEAEt ENDED31&1"ocfoBER 2024 CONTINUED AnAlyiis ofNe¢ belwern Totsl Total UttrNtr1Ct DwlgnAtod Rutriciod Endowmcnt Note UnrcJtrletc¢J DUIgnA Restricte 2024 2D23 ReprerellfedbJ': ljank and cpsli Stocks aiid deor5 37.4( 878,461 25.85? 344.535 34.462 23.656 21677 344.263 rix¢d &s¢ts 114.W7 3.363 108.504 45.563 388.947 5,854 19.905 12.677 438.210 All income And expeDdiiyred¢rivesfrtsm COnlinuin¥ aeiivilies NDneoftIChlt8b1e Comp3ny'5 PftlV111¢5 aVir¢d ordisconUEd during the&bOvet financial WlLwJs. Th¢ stItan1¢f financial aciivities Includes 411 &pains ond loss¢s reco&pTrised durin¥ thcyear Thvnoles onpaBcs 7 10 13 fonm gn Iniegral pan ofihe financial 5th1cments.
THE OXFORDSHIRE COUNTY FEDERATION OF WOMEN?S INSTITUTES ST BALANCE SHEET AS AT 31 OCTOBER 2024 COMPANY NO: 02775236 Note 2024 2023 Fixed assets Tangible assets Investments 3,521 110,486 3,363 108,504 Current assets Stocks Debtors Deposit funds Cash at bank and in hand 1,267 30,518 262,853 81,682 1,269 22,387 154,804 189,459 io 376,320 367,919 Creditors: due within one year 12 (27,152) (41,576) Iyet current assets 349,168 326,343 Net assets 463,175 438,210 Represented by: Unrestricted funds Designated funds Restricted funds Endowment fund 13 14 15 16 45,563 388,947 25.852 2,813 19.905 392,815 22,677 2,813 Total charity funds 463.175 438,210 For the year ending 31 st October 2024 the company was entitl¢d to exemption from audit under section 477 of the Cornpanies Act 2006 relating to small companies. Trustees, responsibilities: The members have not required the company to obtain an audit of its accounts for th¢ year in question in accordance with section 476. The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and thc preparation of accounts. The financial statement5 have been prepared in accordance with the special provisions of part 15 of the Compani¢s Act 2006 relating to small companies. The financial statements were approved by the trustees on 21 $1 May 2025 and were signed on their behalf by: Mrs T Strain Chairman The noles on pages 7 to 13form an inlegralpart ofthefinancial stalemenls.
NOTES TO THE ACCOUNTS FOR THE YEAR TO 31 OCTOBER 2024 Accounting polieies Basis of accounting 2nd assessment of going eoneern The financial statements have been prepared under the historical cost convention other than investments which are carried at fair value. The financial statements have been prepared in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective I st October 2019, the Charities Act 201 I, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Companies Act 2006. The charity constitutes a public benefit entity as defined by FRS 102. The trustees consider that there are no material uncertainties about the charitable company, ability to continue as a going concern. Company status The charity is a private company limited by guarantee, incorporated in England. The members of the company are the Trustees named on page l. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. Income Income represents the amount derived from fees and the provision of goods and services falling within the charitable company's activities in the UK. All income is included in the SOFA when the charitable company is legally entitled to the income and the amount can be quantified with reasonable accuracy. Investment income Interest on fund5 held on deposit is included when receivable and the amount can be measured reliably by the charity. Dividend income from quoted investments is included when received. Expenditure All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources. Governance costs are those incurred in connection with administration of the Charity 85 a legal entity and are not connected with generating income or charitable expenditure. Liabilities are recognised as Tesource5 expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. Leases and hire purchase contracts Rentals applicable to operating leases, where substantially all the benefit5 and risks of ownership remain with the lessor, are charged to the Statement of Financial Activities as incurred. Tangible fixed assets and depreciation Tangible fixed assets are capitalised and included at C05t including any incidental expenses of acquisition. Depreciation of fixed assets is calculated to write off their cost or valuation less any residual value over their estimated useful lives as follows.. Furniture and equipment 250/0 reducing balance
NOTES TO THE ACCOUNTS FOR THE YEAR TO 31" OCTOBER 2024 Investments Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in'net gains/(losses) on invesl]nents' in the SOFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairn)ent. Stock Stock is valued at the lower of Cost and net realisable value. Cost is computed on a first in first out basis. Net realisable value is based on estimated selling price less the estimated cost of disposal. Cash and cash equivalents Casli and cash equivalents comprise cash on hand and other short-term highly liquid investment5 tliat are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Debtors and ereditors receivablelpayable within on¢ year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impainTJent are recognised in expenditure. Taxation The charity is registered for Value Added Tax, and this is recoverable against the activity for which the expenditure is incurred. Fund accounting i) Unrestricted funds These funds are to be used at the discretion of the Board of Trustees in furtherance of the Wl movement. li) Desi nated funds The Property Fund is designated to support future oifice provision whether by way of rent or purchase. iii) Restricted ndS These funds represent Bursaries funded by investment income or specific donations, suspended Wl account5 which are restricted for three years and funds donated for specific projects. The Special Support Fund originates from amounts received from suspended Wls which have been l)eld for a period of three years a5 restricted funds after which tirne they are transferred to unrestricted funds. It will be used to assist Wls financially. iv) Endowment fund This fund originates from the establishment of the Agnes Salter Memorial Bursary. Pensions The Wl contributes to personal defined contribution pension scheme on behalf of it5 eTnployees. The employer's contributions are charged against the income and expenditure account in the year in which they are made. Volunteer time A significant contribution is made by members serving on various cornmittees. The value of these donated Services is not reflected in the accounts.
NOTES TO THE ACCOUNTS FOR THE YEAR TO 31SI' OCTOBER 2024 Turnover In the opinion of the Board of Trustee5, none of the income of the charitable company is attributable to countries outside the UK (2023: £Nil). Net incomelexpenditure Net incomelexpenditure 15 stated after charging.. 2024 2023 Depreciation (owned assets) Operating lease rentals Independent examiner's fee 841 19,550 2.195 893 19.550 8,335 and after crediting: Investment income (note 6) 19,674 14,026 Employees 2024 2023 Employees Salarie5 and National Insurance Pension contributions 40,230 707 37,868 399 40,937 38.267 Number of employees No employees received remuneration of more than £60,000 during the year (2023.. none). Board of Trustee5 and key management personnel remuneration and expenses. The current board of Trustees (who are also considered to be the key management personnel) neither received nor waived any remuneration during th¢ year (2023.. £Nil). Expenses paid to the members are disclosed in note 17. Investment income 2024 2023 Interest receivable Dividends receivable 13,824 5,850 8,504 5,522 19,674 14,026
10. NOTES TO THE ACCOUNTS FOR THE YEAR TO 31S'f OCTOBER 2024 Tangible fixed assets Fixtures and fittings Cost or valuation: At 1st November 2023 Additions 46,700 999 At 31 st October 2024 47.699 Depreciation". At I st November 2023 Charged 43,337 841 At 31 st October 2024 44,178 Net book value: At 31 st October 2024 3,521 At I st November 2023 3,363 Fixed a55et investments 2024 2023 Quoted Investments: Market value at I st November 2023 Add: Acquisitions at C05t Add: (Loss)Igain on revaluation 108.504 120,856 5,850 5,522 (3,868) (17.874) Market value at 31 st October 2024 110.486 108.504 Stocks Goods for resale Office stationery 131 1,136 132 1,137 1,267 1,269 10 Debtors: arnounts falling due within one year VAT recoverable Debtors Prepayments and accrued income 807 2,198 92 20.097 21,600 30,518 22,387 11 Cash at bank and in liand Bank deposit accounts Suspended Wls deposit Bank current accounts Cash and travel float 70,256 4,920 5,310 1,196 163,452 4,614 20,550 81,682 189,459
NOTES TO THE ACCOUNTS FOR THE YEAR TO 31ST OCTOBER 2024 12 Creditors.. amounts falling due within one year 2024 2023 Trade creditors Accruals and deferred income Taxes and social security Other creditors 3,055 23,643 278 176 5,597 35,539 264 176 27,152 41.576 Deferred income comprises event income received in advance which relates to future accounting periods. 13 Unrestricted funds Balance at I st November 2023 Income Expenditure Transfers 19.905 27,538 188,113 139,554 (164.512) (150,326) 2,296 3,139 Balance at 31 st October 2024 45,802 19,905 14 Designated funds 2024 Property Fund Total 2024 Balance at I st November 2023 Income Expenditure Unrealised gainsl(losses) on investments Transfer 392,815 392.815 (3,868) (3,868) Balance at 31 st October 2024 388,947 388,947 2023 Property Fund Totsl 2023 Balance at I st November 2022 Income Expenditure Unrealised gainsllosses on investments Transfer 410,689 410.689 {17,874) (17,874) Balance at 315t October 2023 392.815 392,815
12. NO-rEs 1.0 1-I.IC ACC.OIIN'I'S f4OII'I'llb' YF.AR TO 31 ' OCTOIII", 112024 IS Re5Trl¢ied funds 2024 Bur5¥ry Fund5 Su51)ended NFWI AM lvls Memori41 Fund TDifjI 2024 Balance 31 Isl NovembeT 2023 Donaiions Incoiiic froin W]s BuTsJrieSai[ded Projeci exndi1Ure TraiisfLYS 16.237 4.614 1,734 1.404 22.677 2.594 2,603 2,603 274 274 12,2961 12.2961 Ba13n¢e 2131st October 2024 17,701 4,921 25.852 2023 BursAry Funds Su$pertrted NFWI AM W15 Fund Memorinl Fud Total 2023 Ilblance ai Isi Noveinber 2022 Donii lions 16,9C 837 7,753 14581 2,862 92 24,287 3.699 Bur58rie$awarded ProjL¢I ¢xpcndiiiir¢ Transfers 16701 Ba12ncc ai 31x Ociober 2023 16.237 4.614 .734 92 2?.677 Amoun15 receivcd from suspended Wls ar¢ tcsiritied for a PL'riod ofihrecyears.
13. NOTES TO THE ACCOUNTS FOR THE YEAR TO 31" OCTOBER 2024 16 Endowment fund 2024 2023 As at 31 st October 2023 and at 31 st October 2024 2,813 2,813 17 Related parties and Trustee Expenses In 2024. the Oxfordshire County Federation of Women's Institutes (OFWI) collected affiliation fees on behalf of the National Federation of Women's Institutes (NFWI) amounting to £50,460 (2023.. £47,363). In carrying out its activities the OFWI follows policies laid down by the NFWI as do all other County Federations. 9 (2023.. 9) Trustees were reimbursed for travel and other expenses incurred on Federation business in the year amounting to £1,936 (2023.. £2,571). 18 Support costs 2024 2023 Employment costs (note 4) Administration costs Training Legal and consultancy costs Governance costs (below) Sundry expenses 40.937 2,297 38,267 7,201 79 1,523 8,348 3,100 2,208 725 49,267 55,418 Govern#n¢e Costs 2024 2023 Independent examiner's fee Annual filing fee 2,195 13 8,335 13 2,208 8,348 19 Operating lease commitments Al 31 st October 2024 the charity wa5 committed to make the following payments in respect of opernting leases. Land and buildings 2024 2023 Within one year 2-5years More than 5 year5 19,550 78,200 96,120 19,550 78.200 96,120 The total amount of financial commitrnent5 not included in the balance sheet is £174,320 (a fifteen-year lease was signed on 12th September 2017).