REGISTERED COMPANY NUMBER: 02839087 (England and Wales)
REGISTERED CHARITY NUMBER: 1025356
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31 October 2023
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 2023
|
Page |
Report of the Trustees |
1 to 3 |
Independent Examiner's Report |
4 |
Statement of Financial Activities |
5 |
Statement of Financial Position |
6 to 7 |
Notes to the Financial Statements |
8 to 14 |
Detailed Statement of Financial Activities |
15 |
Suffolk East Federation of Womens
Institutes
Report of the Trustees for the Year Ended 31 October 2023
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheir report
withthefinancialstatementsofthecharityfortheyearended31October2023.Thetrusteeshaveadopted the
provisionsofAccountingandReportingbyCharities:StatementofRecommendedPracticeapplicableto charities
preparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublic of
Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
Wecontinuetofurtherouraimsandobjectivesbyrecommendingthatgovernmentactionbetakeninareas of
concernraisedbyindividualmembersorbyWIs.Onemandatewaspassednationallythisyearandcallsfor an
increaseinawarenessofriverwaterqualitybyapplyingformoreareastobesuitableforopenwater swimming.
Meanwhile,wehavecontinuedtovoiceconcernoverthesubtlesignsofovariancancer,plasticparticlesin our
oceans,alleviatingloneliness,foodwasteandsustainability,AutismandADHDinwomenandgirls,alongwith other
associatedsubjects.OnalocalleveltheFederationremainsactivewithintheSuffolkcommunityinits association
with the Suffolk Agricultural Association by being at the Suffolk Show and the Suffolk Wildlife Trust.
Significant activities
The Federationhasa regularcolumnin the EastAnglianDailyTimes givingan opportunityto shownon-members the
broadscopeofWIactivitiesandinterests.SomeofthesecolumnshavefocussedonNFWIcampaigns.Weuse the
website and Facebook to further keep members informed and promote the organisation.
Financialand administrativedecisionswere made within a policymeeting in November.The NationalCouncil Meeting
washeldbyZoomandattendedbyTinaHurley,inhercapacityasFederationChairman,andVivienHartill as
FederationTreasurer.Trustees have attendedWI meetings and celebrationswithin our federation,with several of our
WIs celebrating their centenary.
Our Annual Meeting was held on 7th March at Trinity Park.
OurownSuffolkEastWIcertificatedcourseswithCreativeStitchofferstudentsachancetodeveloptheirskills in
designandtechniques.Thedistancelearningoptionforthecoursesgivesstudentsfromotherpartsofthe country
theopportunitytotakeonthecourses.Twentyeightstudentsgraduatedin2023.Theirshowofworkwasheld at
NeedhamMarketinJulyandwasastunningdisplay.Ourdedicatedtutorsandadminteamareworkinghard to
provide the best courses we can.
The Federationmarketingteam joinedforces with SuffolkWest Federationto promotea countywidecelebrationof all
thingsWIonNationalWIdayinSeptember.SeveralWIsheldcraftcompetitionsaspartofthiseventand their
winningworkwillbe displayedat ournextAnnualMeeting.The eventwas anopportunitytoraiseawarenessof the
WI in their local area and WIs have reported potential new members visiting their WI.
Oursub-committeeshavefoundplanningeventsdifficult.Theeffectsofthepandemicandrepeatedlockdowns have
left some members still not comfortablewith goingout and not all of the plannedevents have been viable. However,
some smallereventsanddayschoolshavebeenwell attended,as havethemedlunches.A floralthemedlunchin the
summer and a literarylunchin autumn,New Age Kurlingsessions,an evening concertof Gilbertand Sulivan,a science
day and theatre trip show the diversity of what is offered to our members.
OurAdviserteamcontinuetoworkhardsupportingourWIsaswellasorganisingsuccessfulquizzesand delivering
training for WI officers and committees.
ACHIEVEMENT AND PERFORMANCE
Internal and external factors
Outside Representation
Aswellasourlocalconnections,thefederationholdsmembershipoftheAssociatedCountryWomenofthe World
and is a Friend of Suffolk Archives.
Page 1
Suffolk East Federation of Womens
Institutes
Report of the Trustees for the Year Ended 31 October 2023
ACHIEVEMENT AND PERFORMANCE
Acknowledgements
Theboardisextremelygratefulforthesupportgivenbyformerboardmembers,WIAdvisersandour professional
advisers.Wewishtothankourlocalofficestafffortheirenthusiasmanddedication,whichwevalue greatly,
especiallythroughanotherchallengingyear.Weappreciatetheassistance,understandingandpatienceof our
partners,familiesandfriends.Withoutyouallwewouldnotachievetheambitionswehaveforasuccessful and
united Federation.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Thecharityiscontrolledbyitsgoverningdocument,adeedoftrust,andconstitutesalimitedcompany,limited by
guarantee, as defined by the Companies Act 2006.
Organisational structure
SEFWIBoardofTrusteesconsistsof9membersandrepresents89WIswitharound2600members.TheBoard has
metfor11businessmeetingsandtwospecialmeetingsduringthepastyear.Fourofthosemeetingshave been
virtual via Zoom, all others were around the table.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
02839087 (England and Wales)
Registered Charity number
1025356
Registered office
22 Orford Street
Ipswich
Suffolk
IP1 3NS
Trustees
Mrs V J Hartill
Mrs C E Davies (resigned 7.3.23)
Mrs W J Heath
Mrs C A Peacher
Mrs L J Leesmith
Mrs C M Hurley
Ms A Scruby
Mrs R Wailes (resigned 7.3.23)
Mrs J E Pearson
Mrs A Robertson (appointed 7.3.23)
Mrs J Wightman (appointed 7.3.23)
Company Secretary
Mrs G Denny
Page 2
Suffolk East Federation of Womens
Institutes
Report of the Trustees for the Year Ended 31 October 2023
REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
M J Mortimer FCA FCCA
Ballams Chartered Accountants
Crane Court
302 London Road
Ipswich
Suffolk
IP2 0AJ
TREASURER'S REPORT
In2022-23SuffolkEastFederationmadeadeficitonordinaryactivitiesof£13,771.Theannualrevaluation of
investmentshasresultedinanunrealisedlossthisyearof£1,636andthusthereisanoveralldeficitof £15,407.
DespiteexpenditureonroofrepairsandthenewwebsitethatIreportedlastyearwerenecessaryoverall ordinary
expenditure has fallen mostly due to a reduction in staff costs.
Ireportedin2020thatIwasexpectingadeficitonordinaryactivitiesforthenextfewyears.Thedeficitis still
significant but has reduced again this year. Membership levels remain a concern but are beginning to rise again.
I alsoreporteach year thatthe Trusteeshave set a reservespolicyof holdingaroundone year'sordinary expenditure
in general funds to cover a suddenloss of income and to meet any other unforeseencircumstancesso that a large one
offexpenditurewouldnotcompromisethefinancialwellbeingoftheFederation.Ordinaryexpenditurewas around
£75,000 last year but even with a deficit again this year reserves are still higher than this figure.
DuringthefinancialyeartheFederation'sfinancialinternalcontrolshavebeenreviewedagainstcharity commission
guidelinesandtheTrusteesarefurtherconsideringothermajorriskstowhichtheFederationcouldbeexposed and
are taking the necessary steps to mitigate any such risks.
AllthreelevelsoftheWIorganizationcontinuetoexperiencefinancialdifficulties.TheFederationis however
continuingtoimplementthethree-yearplantobringusbacktoa surplusanda thoroughexaminationoffinances is
planned for early January 2024 as an interim budget was showing a deficit of £15,000 for the current financial year.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................
Mrs C M Hurley - Trustee
Page 3
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')
IreporttothecharitytrusteesonmyexaminationoftheaccountsoftheCompanyfortheyear ended
31 October 2023.
Responsibilities and basis of report
As the charity'strusteesof the Company(andalsoits directorsfor the purposesof companylaw)youare responsible
for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
HavingsatisfiedmyselfthattheaccountsoftheCompanyarenotrequiredtobeauditedunderPart16ofthe 2006
Actandareeligibleforindependentexamination,I reportinrespectof my examinationof yourcharity'saccounts as
carriedoutunderSection145oftheCharitiesAct2011('the2011Act').IncarryingoutmyexaminationI have
followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnectionwith the
examination giving me cause to believe:
1. 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
3. 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 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)).
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
M J Mortimer FCA FCCA
Ballams Chartered Accountants
Crane Court
302 London Road
Ipswich
Suffolk
IP2 0AJ
Date: .............................................
Page 4
Suffolk East Federation of Womens
Institutes
Statement of Financial Activities
for the Year Ended 31 October 2023
Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Charitable activities
Services to members and federation activities
99,127
Other trading activities
2
2,664
Investment income
3
5,990
Total
107,781
EXPENDITURE ON
Charitable activities
Services to members and federation activities
121,552
Net gains/(losses) on investments
(1,636)
NET INCOME/(EXPENDITURE)
(15,407)
RECONCILIATION OF FUNDS
Total funds brought forward
220,597
TOTAL FUNDS CARRIED FORWARD
205,190 |
Restricted
funds
£
-
-
-
-
-
-
-
-
- |
2023
Total
funds
£
99,127
2,664
5,990
107,781
121,552
(1,636)
(15,407)
220,597
205,190 |
2022
Total
funds
£
167,520
2,191
5,171
174,882
193,775
(10,973)
(29,866)
250,463
220,597 |
|
|
|
|
The notes form part of these financial statements
Page 5
Suffolk East Federation of Womens
Institutes
Statement of Financial Position
31 October 2023
Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
8
71,606
Investments
9
111,508
183,114
CURRENT ASSETS
Stocks
10
3,759
Debtors
11
3,221
Cash at bank and in hand
28,403
35,383
CREDITORS
Amounts falling due within one year
12
(13,307)
NET CURRENT ASSETS
22,076
TOTAL ASSETS LESS CURRENT LIABILITIES
205,190
NET ASSETS
205,190
FUNDS
13
Unrestricted funds
TOTAL FUNDS |
Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
- |
2023
Total
funds
£
71,606
111,508
183,114
3,759
3,221
28,403
35,383
(13,307)
22,076
205,190
205,190
205,190
205,190 |
2022
Total
funds
£
72,530
113,144
185,674
3,937
1,354
50,714
56,005
(21,082)
34,923
220,597
220,597
220,597
220,597 |
|
|
|
|
The charitablecompanyis entitledto exemptionfrom audit under Section477 of the CompaniesAct 2006 for the year
ended 31 October 2023.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
31 October 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(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.
The notes form part of these financial statements
continued...
Page 6
Suffolk East Federation of Womens
Institutes
Statement of Financial Position - continued
31 October 2023
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicableto charitable companies
subject to the small companies regime.
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
............................................. and were signed on its behalf by:
.............................................
C M Hurley - Trustee
The notes form part of these financial statements
Page 7
Suffolk East Federation of Womens
Institutes
Notes to the Financial Statements for the Year Ended 31 October 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financialstatementsof the charitablecompany,whichis a publicbenefitentityunderFRS 102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities: Statement
ofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicablein the UK and Republicof Ireland(FRS 102) (effective1 January2019)', Financial
ReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the
CompaniesAct2006.Thefinancialstatementshavebeenpreparedunderthehistoricalcostconvention, with
theexceptionofinvestmentswhichareincludedatmarketvalue,asmodifiedbytherevaluationof certain
assets.
Income
All incomeis recognisedin the Statementof FinancialActivitiesoncethe charityhasentitlementto the funds,
it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement
andtheamountof theobligationcanbe measuredreliably.Expenditureis accountedforonanaccruals basis
andhas been classifiedunderheadingsthataggregateall costrelatedto the category.Wherecostscannot be
directlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwith the
use of resources.
Tangible fixed assets
Depreciationis providedat the followingannualrates in orderto 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
Stocksarevaluedatthelowerofcostandnetrealisablevalue,aftermakingdueallowanceforobsolete 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.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.
continued...
Page 8
Suffolk East Federation of Womens
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 October 2023
2. OTHER TRADING ACTIVITIES
2. |
OTHER TRADING ACTIVITIES |
|
|
|
|
2023 |
2022 |
|
|
£ |
£ |
|
Fundraising events |
2,664 |
2,191 |
3. |
INVESTMENT INCOME |
|
|
|
|
2023 |
2022 |
|
|
£ |
£ |
|
Other fixed asset investments |
5,990 |
5,171 |
4. |
NET INCOME/(EXPENDITURE) |
|
|
|
Net income/(expenditure) is stated after charging/(crediting): |
|
|
|
|
2023 |
2022 |
|
|
£ |
£ |
|
Depreciation - owned assets |
1,606 |
1,765 |
5. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31October2023norforthe year
ended 31 October 2022.
Trustees' expenses
During the year trustees' expenses totalled £4,664 and were paid to all 9 trustees in respect of travel costs.
6. STAFF COSTS
The average monthly number of employees during the year was as follows:
Office administration
No employees received emoluments in excess of £60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Charitable activities
Services to members and federation activities
167,520
Other trading activities
2,191
Investment income
5,171
Total
174,882 |
2023
3
Restricted
funds
£
-
-
-
- |
2022
3
Total
funds
£
167,520
2,191
5,171
174,882 |
|
|
|
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
EXPENDITURE ON
continued...
Page 9
Institutes
Suffolk East Federation of Womens
Notes to the Financial Statements - continued for the Year Ended 31 October 2023
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
funds
funds
£
£
Charitable activities
Services to members and federation activities
193,775
-
Net gains/(losses) on investments
(10,973)
-
NET INCOME/(EXPENDITURE)
(29,866)
-
Transfers between funds
30,000
(30,000)
Net movement in funds
134
(30,000)
RECONCILIATION OF FUNDS
Total funds brought forward
220,463
30,000
TOTAL FUNDS CARRIED FORWARD
220,597
-
8.
TANGIBLE FIXED ASSETS
Fixtures
Freehold
and
Computer
property
fittings
equipment
£
£
£
COST
At 1 November 2022
67,450
23,755
651
Additions
-
-
682
At 31 October 2023
67,450
23,755
1,333
DEPRECIATION
At 1 November 2022
-
19,109
217
Charge for year
-
1,162
444
At 31 October 2023
-
20,271
661
NET BOOK VALUE
At 31 October 2023
67,450
3,484
672
At 31 October 2022
67,450
4,646
434 |
Total
funds
£
193,775
(10,973)
(29,866)
-
(29,866)
250,463
220,597
Totals
£
91,856
682
92,538
19,326
1,606
20,932
71,606
72,530 |
|
|
continued...
Page 10
Suffolk East Federation of Womens
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 October 2023
9. FIXED ASSET INVESTMENTS
MARKET VALUE
At 1 November 2022
Revaluations
At 31 October 2023
NET BOOK VALUE
At 31 October 2023
At 31 October 2022
There were no investment assets outside the UK.
Cost or valuation at 31 October 2023 is represented by:
Valuation in 2023
Cost
10.
STOCKS
Stocks
11.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors |
Listed
investments
£
113,144
(1,636)
111,508
111,508
113,144
Listed
investments
£
57,012
54,496
111,508
2023
2022
£
£
3,759
3,937
2023
2022
£
£
1,998
1,354
1,223
-
3,221
1,354 |
|
|
continued...
Page 11
Suffolk East Federation of Womens
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 October 2023
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
13.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are a
Unrestricted funds
General fund
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Restricted funds
Holiday Fund
TOTAL FUNDS |
s follows:
Incoming
resources
£
107,781
107,781
At
1.11.21
£
220,463
30,000
250,463 |
At
1.11.22
£
220,597
220,597
Resources
expended
£
(121,552)
(121,552)
Net
movement
in funds
£
(29,866)
-
(29,866) |
2023
2022
£
£
13,307
21,082
Net
movement
At
in funds
31.10.23
£
£
(15,407)
205,190
(15,407)
205,190
Gains and
Movement
losses
in funds
£
£
(1,636)
(15,407)
(1,636)
(15,407)
Transfers
between
At
funds
31.10.22
£
£
30,000
220,597
(30,000)
-
-
220,597 |
|
|
|
|
continued...
Page 12
Suffolk East Federation of Womens
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 October 2023
13. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Incoming
resources
£
174,882
174,882 |
Resources
expended
£
(193,775)
(193,775) |
Gains and
Movement
losses
in funds
£
£
(10,973)
(29,866)
(10,973)
(29,866) |
Gains and
Movement
losses
in funds
£
£
(10,973)
(29,866)
(10,973)
(29,866) |
|
|
|
|
(29,866) |
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
Restricted funds
Holiday Fund
TOTAL FUNDS |
At
1.11.21
£
220,463
30,000
250,463 |
Net
movement
in funds
£
(45,273)
-
(45,273) |
Transfers
between
funds
£
30,000
(30,000)
- |
At
31.10.23
£
205,190
- |
|
|
|
|
205,190 |
A currentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above
are as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Incoming
resources
£
282,663
282,663 |
Resources
expended
£
(315,327)
(315,327) |
Gains and
Movement
losses
in funds
£
£
(12,609)
(45,273)
(12,609)
(45,273) |
Gains and
Movement
losses
in funds
£
£
(12,609)
(45,273)
(12,609)
(45,273) |
|
|
|
|
(45,273) |
continued...
Page 13
Suffolk East Federation of Womens
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 October 2023
14. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 October 2023.
Page 14
Suffolk East Federation of Womens
Institutes
INCOME AND ENDOWMENTS
Other trading activities
Fundraising events
Investment income
Other fixed asset investments
Charitable activities
Services to members
Federation committee activity
Federation women's institutes
Total incoming resources
EXPENDITURE
Charitable activities
Services to members
Federation committee activity
Support costs
Governance costs
Wages
Establishment expenses
Total resources expended
Net expenditure |
Detailed Statement of Financial Activities
for the Year Ended 31 October 2023 |
2023
£
2,664
5,990
16,722
53,391
29,014
99,127
107,781
20,198
44,007
64,205
35,748
21,599
57,347
121,552
(13,771) |
2022
£
2,191
5,171
15,794
123,619
28,107
167,520
174,882
23,199
109,850
133,049
41,533
19,193
60,726
193,775
(18,893) |
|
|
|
|
This page does not form part of the statutory financial statements
Page 15