FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
FOR
THE BEDFORDSHIRE COUNTY FEDERATION OF
WOMEN'S INSTITUTES
THE BEDFORDSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
COMPANY INFORMATION
REGISTERED OFFICE: W. I. House 62 Adelaide Square Bedford MK40 2RW REGISTERED NUMBER: 02708888 REGISTERED CHARITY NUMBER: 1029278 INDEPENDENT REPORTING Longstaff, Gentle & Co ACCOUNTANTS: Chartered Certified Accountants 61 Harpur Street Bedford MK40 2SR
Page 1
THE BEDFORDSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
REPORT OF THE DIRECTORS
The directors have pleasure in presenting their report and the Company's financial statements for the year ended 31 December 2021.
PRINCIPAL ACTIVITY
The Company's principal activity is to provide services to Women's Institutes locally and to represent the interests of Women's Institutes in Bedfordshire.
DIRECTORS
The Directors who held office during the year are as follows:
Chairman Mrs Sally Ball Vice Chairman Mrs Elizabeth Cochrane Mrs Ruth Gill (Resigned 04/10/21) Treasurer Mrs Diane Sanbrook Assistant Treasurer Vacant Committee Mrs Judith McEwan Mrs Rosemary Mitchell Mrs Elizabeth Potter Mrs Dot Wigg Mrs Wendy Cox
LIMITED LIABILITY
The company is limited by guarantee with a £1 guarantee provided by each member.
CHARITABLE STATUS
The company is a registered charity.
On behalf of the Board:
Mrs Sally Ball Chairman
Date: 7th February 2022
Page 2
THE BEDFORDSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BEDFORDSHIRE COUNTY
FEDERATION OF WOMEN'S INSTITUTES
I report on the accounts of the company for the year ended 31 December 2021, which are set out on pages 4 to 8.
Respective responsibilities of trustees and examiner
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
-
(a) examine the accounts under section 145 of the 2011 Act;
-
(b) to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
-
(c) to state whether particular matters have come to my attention.
Basis of Independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
-
(1) which give me reasonable cause to believe that, in any material respect, the requirements:
-
(a) to keep accounting records in accordance with section 386 of the Companies Act 2006; and
-
(b) to prepare accounts which accord with the accounting records, comply with the accounting requirements section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities.
have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Mr S. P. Simpson Longstaff, Gentle & Co Chartered Certified Accountants 61 Harpur Street Bedford MK40 2SR
Dated: 7th February 2022
Page 3
THE BEDFORDSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
BALANCE SHEET AS AT 31 DECEMBER 2021
| 2020 £ £ 62772 7890 1205 57479 114492 181066 8169 172897 235669 75000 94497 99481 4984 61188 235669 |
Note FIXED ASSETS Tangible Assets 2 CURRENT ASSETS Stock on Hand 1c Debtors 3 Investment Accounts 4 Cash at Bank and in Hand 5 LESS: CURRENT LIABILITIES Creditors 6 TOTAL ASSETS LESS CURRENT LIABILITIES FINANCED BY: Capital Reserve Unrestricted Funds General Reserve 1e, 7a Property Maintenance Reserve 1e, 7a Restricted Funds 1e, 7b |
2021 £ £ 60898 6960 1309 58858 124258 191385 4896 186489 247387 75000 101957 4984 106941 65446 247387 |
2021 £ £ 60898 6960 1309 58858 124258 191385 4896 186489 247387 75000 101957 4984 106941 65446 247387 |
|---|---|---|---|
| 247387 |
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for:
(a) ensuring that the company keeps accounting records which 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 company as at the end of each financial year and of its profit or loss 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 company.
The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Mrs Sally Ball Director
Mrs Diane Sanbrook Director
Approved On: 7th February 2022
Page 4
THE BEDFORDSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021
| 2020 £ £ 26152 3316 8471 9646 123 214 47922 5315 53237 41570 3117 5866 2003 52556 1744 54300 -1063 |
Note INCOMING RESOURCES Affiliation Fees and Quota Income - Committees Income - Other Sale of Goods General Donations Interest Received from General Investments Total Incoming Resources - Unrestricted Funds 7a Total Incoming Resources - Restricted Funds 7b Total Incoming Resources for the year RESOURCES EXPENDED Governance Costs Expenses of Committees Cost of Goods Sold Depreciation 1b, 2 Total Resources Expended - Unrestricted Funds 7a Total Resources Expended - Restricted Funds 7b Total Resources Expended for the year Surplus/(Deficit) for the year |
2021 £ £ 23899 8687 9550 9847 779 8 52770 4996 57766 30125 6638 6673 1874 45310 738 46048 11718 |
2021 £ 23899 8687 9550 9847 779 8 |
|---|---|---|---|
| 52770 4996 |
|||
| 11718 |
FUNDS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021
| Total Incoming Resources for the year Less: Total Resources Expended for the year Transfer Between Funds Operating Surplus for the year Balance Brought Forward Balance Carried Forward |
Unrestricted Funds 52770 45310 |
Unrestricted Funds 52770 45310 |
Restricted Funds 4996 738 |
Restricted Funds 4996 738 |
Total 2021 57766 46048 |
|
|---|---|---|---|---|---|---|
| 7460 0 |
4258 0 |
11718 0 |
||||
| 7460 94497 |
4258 61188 |
11718 155685 |
||||
| 101957 | 65446 | 167403 |
Page 5
THE BEDFORDSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
1 ACCOUNTING POLICIES
a Basis of Accounting
The financial statements have been prepared under the historical cost convention. The financial statements have been prepared in accordance with Statement of Recommended Practice, "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and the Republic of Ireland (FRS 102) and the Companies Act 2016.
b 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 & Improvements (excl. la 2% straight line Furniture, Fittings & Equipment - 15% on written down value Computer Equipment - 25% on written down value
c Stock
Stock consists of goods held for resale which are valued at the lower of cost and net realisable value.
d Voluntary Income
All voluntary income, legacies and grants are utilised within the general unrestricted fund for the furtherance of the principal activity of the company, except that where a particular use of any amount received has been specified at the time of receipt, a restricted fund will operate. Any such specified use should be compatible with the objects of the company and capable of execution by the company.
e Fund Accounting
-
( I ) The company's General Reserve consists of unrestricted funds which the company may use for its purposes at its discretion.
-
( ii ) The Property Maintenance Reserve has been created to specifically accommodate amounts set aside for future maintenance costs. It is an unrestricted, but designated fund of the company.
-
( iii ) The restricted funds are those where donations have been received or fund raising events have been held for specific purposes.
f Pension Costs and Other Post-Retirement Benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
g Employees and Directors
The average number of employees during the year was 3
2 TANGIBLE FIXED ASSETS
| TANGIBLE FIXED ASSETS | |
|---|---|
| Cost Opening Balance as at 1.1.21 Additions Depreciation Accumulated Depreciation as at 1.1.21 Charge for the year Net Book Value at 31 December 2021 Net Book Value at 31 December 2020 |
Freehold Property Furniture, 62, Adelaide Total Fittings & Square & Equipment Improvements |
| 18955 86075 105030 0 0 0 |
|
| 18955 86075 105030 |
|
| 14928 27330 42258 652 1222 1874 |
|
| 15580 28552 44132 |
|
| 3375 57523 60898 |
|
| 4027 58745 62772 |
Page 6
THE BEDFORDSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
| 3 4 5 6 7a b |
31.12.21 31.12.20 £ £ DEBTORS Trade Debtors 273 100 Prepayments 827 601 Expenses paid in respect of following year 209 504 1309 1205 CURRENT ASSET INVESTMENTS Nationwide Building Society Account 7465 6092 COIF Charities Deposit Account 51393 51387 58858 57479 CASH AT BANK AND IN HAND Deposit Account 65619 65611 Current Account 58463 48748 Cash in Hand 176 133 124258 114492 CREDITORS Accrued Expenses 2240 2938 Amounts held in respect of following year 2656 5231 4896 8169 Unrestricted Funds Balance Balance as at Income Expend- Transfer as at 01.01.21 iture 31.12.21 General Reserve 94497 52770 -45310 0 101957 Designated for Property Maintenance 4984 0 0 0 4984 99481 52770 -45310 0 106941 Restricted Funds Balance Balance as at Income Expend- Transfer as at 01.01.21 iture 31.12.21 Bursary - Dr Braggins 1022 1022 W. I. Property & Office Fund 23703 12 23715 W. I. Suspensions (see page 1209 2277 -670 2816 W. I. Formations & Recruitm 4919 624 -53 5490 Pooling of Accommodation 3672 1372 5044 Denman Dip 64 64 Catering & Office Equipment 2933 2933 Denman College Furniture 1256 1 1257 Postage 0 0 WI Bursaries 685 350 1035 Save Denman/Love Denman 1464 200 1664 Speakers & Centenary 19037 19037 Catering Bursaries 0 0 Garden Fund 224 160 -15 369 Communication & Publicity 1000 1000 61188 4996 -738 0 65446 |
31.12.21 31.12.20 £ £ DEBTORS Trade Debtors 273 100 Prepayments 827 601 Expenses paid in respect of following year 209 504 1309 1205 CURRENT ASSET INVESTMENTS Nationwide Building Society Account 7465 6092 COIF Charities Deposit Account 51393 51387 58858 57479 CASH AT BANK AND IN HAND Deposit Account 65619 65611 Current Account 58463 48748 Cash in Hand 176 133 124258 114492 CREDITORS Accrued Expenses 2240 2938 Amounts held in respect of following year 2656 5231 4896 8169 Unrestricted Funds Balance Balance as at Income Expend- Transfer as at 01.01.21 iture 31.12.21 General Reserve 94497 52770 -45310 0 101957 Designated for Property Maintenance 4984 0 0 0 4984 99481 52770 -45310 0 106941 Restricted Funds Balance Balance as at Income Expend- Transfer as at 01.01.21 iture 31.12.21 Bursary - Dr Braggins 1022 1022 W. I. Property & Office Fund 23703 12 23715 W. I. Suspensions (see page 1209 2277 -670 2816 W. I. Formations & Recruitm 4919 624 -53 5490 Pooling of Accommodation 3672 1372 5044 Denman Dip 64 64 Catering & Office Equipment 2933 2933 Denman College Furniture 1256 1 1257 Postage 0 0 WI Bursaries 685 350 1035 Save Denman/Love Denman 1464 200 1664 Speakers & Centenary 19037 19037 Catering Bursaries 0 0 Garden Fund 224 160 -15 369 Communication & Publicity 1000 1000 61188 4996 -738 0 65446 |
31.12.21 £ 273 827 209 1309 7465 51393 58858 65619 58463 176 124258 2240 2656 4896 Expend- Transfer iture |
31.12.20 |
|---|---|---|---|---|
| £ 100 601 504 |
||||
| 1205 | ||||
| 6092 51387 |
||||
| 57479 | ||||
| 65611 48748 133 |
||||
| 114492 | ||||
| 2938 5231 |
||||
| 8169 | ||||
| Balance as at 31.12.21 |
||||
| 94497 52770 -45310 0 101957 4984 0 0 0 4984 |
||||
| 99481 52770 -45310 0 106941 |
||||
| Balance Balance as at Income Expend- Transfer as at 01.01.21 iture 31.12.21 |
||||
| 61188 4996 -738 0 65446 |
Page 7
THE BEDFORDSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
W.I. Suspensions
From July 2002 forfeited amounts from suspended W.I's are held until a W.I. reforms and reclaims the relevant sum or for 3 years when the funds are allocated under the rules of the W.I. to the Company only. Therefore the funds remain restricted for a period of up to 3 years.
| 8 | OPERATING SURPLUS The Operating Surplus is stated after charging: Accountancy Fees |
31.12.21 £ 912 |
31.12.20 £ 1092 |
||
|---|---|---|---|---|---|
9 CONNECTED PERSONS AND RELATED PARTY TRANSACTIONS
The company exists to promote the interests of Womens Institutes throughout Bedfordshire and as such ensures that the membership of the W.I. both as individuals and collectively benefit from its normal operation.
Employment costs are as shown in the detailed income and expenditure account, in addition to which the company enjoys a considerable amount of voluntary effort by the officers, directors and members. The value of these donated services has not been quantified and is not reflected in the accounts. Subject to the foregoing there were no material related party transactions during the year.
Page 8