REGISTERED COMPANY NUMBER: 2839087 (England and Wales) REGISTERED CHARITY NUMBER: 1025356
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020
FOR
SUFFOLK EAST FEDERATION OF WOMENS INSTITUTES
Ballams Chartered Accountants Crane Court 302 London Road Ipswich Suffolk IP2 0AJ
SUFFOLK EAST FEDERATION OF WOMENS INSTITUTES
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020
| Page | |
|---|---|
| Report of the Trustees | 1 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Statement of Financial Position | 7 to 8 |
| Notes to the Financial Statements | 9 to 15 |
| Detailed Statement of Financial Activities | 16 |
SUFFOLK EAST FEDERATION OF WOMENS INSTITUTES
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2020
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 October 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
We continue to further our aims and objectives by recommending that government action be taken in areas of concern raised by individual members or by WIs. Despite the lockdown preventing WIs to meet and discuss these matters, two mandates were passed nationally. One concerns stem cell donation and the other modern slavery. Meanwhile, we have continued to voice concern over the plastic particles in our oceans, alleviating loneliness, food waste and sustainability along with other associated subjects. On a local level the Federation remains active within the Suffolk community in its association with the Suffolk Agricultural Association.
Significant activities
The Federation has a regular column in the East Anglian Daily Times and the Let's Talk Magazine, giving an opportunity to show non-members the broad scope of WI activities and interests. Some of these columns have focussed on NFWI campaigns. We have also had opportunity to visit Radio Suffolk to talk about WI matters. We use the website and Facebook to further keep members informed and promote the organisation.
Financial and administrative decisions were made at a policy meeting in November. The National Council Meeting was held by Zoom and attended by Celia Davies, in her capacity as Federation Chairman, and Vivien Hartill as Federation Treasurer. The Covid 19 lockdown meant that there was very little attendance as guests after mid March and we were very fortunate that the Federation's Annual Meeting was held at Trinity Park, Ipswich just before lockdown.
Our own Suffolk East WI certificated courses with Creative Stitch are very popular and despite having to turn to distance learning for the summer term, more than 30 students graduated in 2020. Their show of work was held virtually via YouTube in July. Our dedicated tutors and admin team are working hard to provide the best courses we can within the confines of partial or full lockdown.
Our sub-committees had to completely rethink their programme from March onwards as the lockdown caused everything to be cancelled. However, we did manage to complete our Centenary Celebrations with a celebration dinner and a special concert in November. Ten pin bowling and new age kurling both took place, but since March a virtual way of working has prevailed and we have offered members various presentations, needle-felting workshop, training for WI officers and treasurers.
The leisure breaks with a high educational content organised by the Federation are always popular and again, these have been much curtailed. However, we did manage to fit in a December break to Nottingham and a February London Theatre break which included a tour of Wimbledon and a boat trip to Hampton Court.
Visits
Members of the board have attended meetings and events throughout the Federation, enjoying the hospitality of both WIs and Groups, although these were limited to just a few months.
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SUFFOLK EAST FEDERATION OF WOMENS INSTITUTES
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2020
ACHIEVEMENT AND PERFORMANCE
Internal and external factors
Bursaries
The Federation awarded six bursaries for members to attend Denman College. However, with the sad news that Denman is to close permanently new ways of offering educational bursaries are being considered.
Outside Representation
The Federation is a member of the Suffolk Agricultural Association, Suffolk Wildlife Trust and the Associated Country Women of the World.
Acknowledgements
The board is extremely grateful for the support given by former board members, WI Advisers and our professional advisers. We wish to thank our local office staff for their enthusiasm and dedication, which we value greatly, especially through such a challenging year. We appreciate the assistance, understanding and patience of our husbands, families and friends. Without you all we would not achieve the ambitions we have for a successful and united Federation.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Organisational structure
SEFWI Board of Trustees consists of 10 members and represents 106 WIs with around 3300 members. The Board has met for 11 business meetings and two special meetings during the past year. Six of those meetings have been virtual via Zoom and one was hybrid with some in the room and some on Zoom.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
2839087 (England and Wales)
Registered Charity number
1025356
Registered office
22 Orford Street Ipswich Suffolk IP1 3NS
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SUFFOLK EAST FEDERATION OF WOMENS INSTITUTES
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2020
Trustees
Mrs J M Collier (resigned 3/3/20) Mrs V J Hartill Mrs C E Davies Mrs W J Heath Mrs A K Davies Mrs C A Peacher Mrs J L Stratford-Wright (resigned 30/9/20) Mrs L J Leesmith Mrs D E Sewell Mrs C M Hurley Mrs B C Pilborough (appointed 3/2/20) Ms A Scruby (appointed 3/3/20)
Company Secretary
Mrs G Denny
Independent Examiner
Ballams Chartered Accountants Crane Court 302 London Road Ipswich Suffolk IP2 0AJ
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SUFFOLK EAST FEDERATION OF WOMENS INSTITUTES
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2020
TREASURER'S REPORT
In 2019-20 Suffolk East Federation made a deficit on ordinary activities of £7,587. The annual revaluation of investments has resulted in a significant unrealised loss this year of £16,628 and thus there is an overall deficit of £24,215. Both income and expenditure reduced significantly.
I reported last year that I was expecting a deficit on ordinary activities for the next few years and we did indeed make a deficit this year but not entirely in the way we had had hoped although we continue to make no charge to WIs for SEFWI News, Membership Advisory training and pooling of fares. We were fortunate that we had received almost all our subscription income, managed to hold various committee events and two holidays before the end of March and lockdown. Part of the deficit was due to being able to finish our last few Centenary events ending in style with the concert and funding extra seating space at the Annual meeting. We were able to take advantage of the Government grant scheme in the sum of £10,000 therefore the deficit related to covid 19 restrictions was only around £6,000.
I also report each year that the Trustees have set a reserves policy of holding around one year's ordinary expenditure in general funds to cover a sudden loss of income and to meet any other unforeseen circumstances so that a large one off expenditure would not compromise the financial wellbeing of the Federation. This year with the covid 19 pandemic the unthinkable happened and currently we have no certainty when or how the financial situation will improve. At 18-19 pre covid spend ordinary expenditure would be around £ 80,750. Even with a deficit this year reserves are higher than this figure.
During the financial year the Federation's financial internal controls have been reviewed against charity commission guidelines and the Trustees are further considering other major risks to which the Federation could be exposed and are taking the necessary steps to mitigate any such risks in the light of this year's events. The remaining £2500 of the designated Centenary Fund has been duly transferred back to the General one and the Federation continues to hold £30,000 in a restricted holiday fund.
The Federation shares NFWI concerns as to the level of renewals next year and the three month extension to the subscription period will also have an impact on finances. I am forecasting a worst case scenario with little or no event activity for the next financial year to end in a deficit of around £12,500 on ordinary activities but with our reserves we are in a position to weather the storm.
Approved by order of the board of trustees on 18 January 2021 and signed on its behalf by:
Mrs C E Davies - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SUFFOLK EAST FEDERATION OF WOMENS INSTITUTES
Independent examiner's report to the trustees of Suffolk East Federation of Womens Institutes ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 October 2020.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts 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 charity's accounts as carried 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 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities 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 matters 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.
M J Mortimer ACA FCCA Ballams Chartered Accountants Crane Court 302 London Road Ipswich Suffolk IP2 0AJ
Date: .............................................
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SUFFOLK EAST FEDERATION OF WOMENS INSTITUTES
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2020
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Charitable activities Services to members and federation activities 122,928 Other trading activities 2 2,928 Investment income 3 5,049 Other income 10,000 Total 140,905 EXPENDITURE ON Charitable activities Services to members and federation activities 148,492 Net gains/(losses) on investments (16,628) NET INCOME/(EXPENDITURE) (24,215) RECONCILIATION OF FUNDS Total funds brought forward 222,533 TOTAL FUNDS CARRIED FORWARD 198,318 |
Restricted funds £ - - - - - - - - 30,000 30,000 |
2020 Total funds £ 122,928 2,928 5,049 10,000 140,905 148,492 (16,628) (24,215) 252,533 228,318 |
2019 Total funds £ 332,879 3,008 5,196 - |
|---|---|---|---|
| 341,083 345,582 6,676 |
|||
| 2,177 250,356 |
|||
| 252,533 |
The notes form part of these financial statements
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SUFFOLK EAST FEDERATION OF WOMENS INSTITUTES
STATEMENT OF FINANCIAL POSITION 31 OCTOBER 2020
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 8 72,569 Investments 9 98,892 171,461 CURRENT ASSETS Stocks 10 5,701 Debtors 11 1,935 Cash at bank and in hand 32,798 40,434 CREDITORS Amounts falling due within one year 12 (13,577) NET CURRENT ASSETS 26,857 TOTAL ASSETS LESS CURRENT LIABILITIES 198,318 NET ASSETS 198,318 FUNDS 13 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ - - - - - 30,000 30,000 - 30,000 30,000 30,000 |
2020 Total funds £ 72,569 98,892 171,461 5,701 1,935 62,798 70,434 (13,577) 56,857 228,318 228,318 198,318 30,000 228,318 |
2019 Total funds £ 74,157 115,520 189,677 6,868 1,847 73,014 81,729 (18,873) 62,856 252,533 252,533 222,533 30,000 252,533 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2020 in accordance with Section 476 of the Companies Act 2006.
The notes form part of these financial statements
continued...
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SUFFOLK EAST FEDERATION OF WOMENS INSTITUTES
STATEMENT OF FINANCIAL POSITION - continued 31 OCTOBER 2020
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 18 January 2021 and were signed on its behalf by:
C E Davies - Trustee
The notes form part of these financial statements
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SUFFOLK EAST FEDERATION OF WOMENS INSTITUTES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided Fixtures and fittings - 25% on reducing balance Computer equipment - 33% on cost
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
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SUFFOLK EAST FEDERATION OF WOMENS INSTITUTES
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2020
| 2. OTHER TRADING ACTIVITIES Fundraising events 3. INVESTMENT INCOME Other fixed asset investments Deposit account interest 4. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
2020 £ 2,928 2020 £ 5,047 2 5,049 2020 £ 1,811 |
2019 £ 3,008 |
|---|---|---|
| 2019 £ 5,196 - |
||
| 5,196 | ||
| 2019 £ 2,287 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 October 2020 nor for the year ended 31 October 2019.
Trustees' expenses
During the year trustees' expenses totalled £3,825 and were paid to all 11 trustees in respect of travel costs.
6. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 2020 | 2019 | |
|---|---|---|
| Office administration | 3 | 3 |
No employees received emoluments in excess of £60,000.
continued...
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SUFFOLK EAST FEDERATION OF WOMENS INSTITUTES
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2020
| 7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted funds funds £ £ INCOME AND ENDOWMENTS FROM Charitable activities Services to members and federation activities 332,879 - Other trading activities 3,008 - Investment income 5,196 - Total 341,083 - EXPENDITURE ON Charitable activities Services to members and federation activities 345,582 - Net gains on investments 6,676 - NET INCOME 2,177 - RECONCILIATION OF FUNDS Total funds brought forward 220,356 30,000 TOTAL FUNDS CARRIED FORWARD 222,533 30,000 |
Total funds £ 332,879 3,008 5,196 |
|---|---|
| 341,083 345,582 6,676 |
|
| 2,177 250,356 |
|
| 252,533 |
continued...
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SUFFOLK EAST FEDERATION OF WOMENS INSTITUTES
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2020
8. TANGIBLE FIXED ASSETS
| COST At 1 November 2019 Additions At 31 October 2020 DEPRECIATION At 1 November 2019 Charge for year At 31 October 2020 NET BOOK VALUE At 31 October 2020 At 31 October 2019 9. FIXED ASSET INVESTMENTS MARKET VALUE At 1 November 2019 Revaluations At 31 October 2020 NET BOOK VALUE At 31 October 2020 At 31 October 2019 |
Freehold property £ 67,450 - 67,450 - - - 67,450 67,450 |
Fixtures and Computer fittings equipment £ £ 21,060 469 223 - 21,283 469 14,666 156 1,654 157 16,320 313 4,963 156 6,394 313 |
Totals £ 88,979 223 89,202 14,822 1,811 16,633 72,569 74,157 Cash and settlements pending £ 115,520 (16,628) 98,892 98,892 115,520 |
|---|---|---|---|
There were no investment assets outside the UK.
continued...
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SUFFOLK EAST FEDERATION OF WOMENS INSTITUTES
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2020
| 10. STOCKS Stocks 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Prepayments and accrued income 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 13. MOVEMENT IN FUNDS Net At movement 1.11.19 in funds £ £ Unrestricted funds General fund 220,033 (24,215) Centenary Fund 2,500 - 222,533 (24,215) Restricted funds Holiday Fund 30,000 - TOTAL FUNDS 252,533 (24,215) Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 140,905 (148,492) TOTAL FUNDS 140,905 (148,492) |
2020 2019 £ £ 5,701 6,868 2020 2019 £ £ 1,670 1,847 265 - 1,935 1,847 2020 2019 £ £ 13,577 18,873 Transfers between At funds 31.10.20 £ £ 2,500 198,318 (2,500) - - 198,318 - 30,000 - 228,318 Gains and Movement losses in funds £ £ (16,628) (24,215) (16,628) (24,215) |
|---|---|
continued...
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SUFFOLK EAST FEDERATION OF WOMENS INSTITUTES
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2020
13. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | Transfers | |||
|---|---|---|---|---|
| At | movement | between | At | |
| 1.11.18 | in funds | funds | 31.10.19 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 205,356 | 2,177 | 12,500 | 220,033 |
| Centenary Fund | 15,000 | - | (12,500) | 2,500 |
| 220,356 | 2,177 | - | 222,533 | |
| Restricted funds | ||||
| Holiday Fund | 30,000 | - | - | 30,000 |
| TOTAL FUNDS | 250,356 | 2,177 | - | 252,533 |
| Comparative net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Gains and | Movement | |
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 341,083 | (345,582) | 6,676 | 2,177 |
| TOTAL FUNDS | 341,083 | (345,582) | 6,676 | 2,177 |
| A current year 12 months and prior year 12 months combined position is as | follows: | |||
| Net | Transfers | |||
| At | movement | between | At | |
| 1.11.18 | in funds | funds | 31.10.20 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 205,356 | (22,038) | 15,000 | 198,318 |
| Centenary Fund | 15,000 | - | (15,000) | - |
| 220,356 | (22,038) | - | 198,318 | |
| Restricted funds | ||||
| Holiday Fund | 30,000 | - | - | 30,000 |
| TOTAL FUNDS | 250,356 | (22,038) | - | 228,318 |
continued...
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SUFFOLK EAST FEDERATION OF WOMENS INSTITUTES
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2020
13. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 481,988 481,988 |
Resources expended £ (494,074) (494,074) |
Gains and Movement losses in funds £ £ (9,952) (22,038) (9,952) (22,038) |
|---|---|---|---|
14. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 October 2020.
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SUFFOLK EAST FEDERATION OF WOMENS INSTITUTES
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2020
| INCOME AND ENDOWMENTS Other trading activities Fundraising events Investment income Other fixed asset investments Deposit account interest Charitable activities Services to members Federation committee activity Federation women's institutes Other income Exceptional items Total incoming resources EXPENDITURE Charitable activities Services to members Federation committee activity Support costs Governance costs Wages Establishment expenses Total resources expended Net expenditure |
2020 £ 2,928 5,047 2 5,049 7,263 83,104 32,561 122,928 10,000 140,905 11,650 83,136 94,786 38,328 15,378 53,706 148,492 (7,587) |
2019 £ 3,008 5,196 - 5,196 25,753 272,560 34,566 332,879 - 341,083 34,962 256,661 291,623 39,958 14,001 53,959 345,582 (4,499) |
|---|---|---|
This page does not form part of the statutory financial statements
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