## **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