FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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
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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 2023.
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 Elizabeth Cochrane Vice Chairman Mrs Hazel Wade Treasurer Mrs Diane Sanbrook Assistant Treasurer Vacant Committee Mrs Sally Ball Mrs Rosemary Mitchell Mrs Elizabeth Potter Mrs Dorothy Wigg Mrs Rita Hutchinson
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 Elizabeth Cochrane Chairman
Date: 12th February 2024
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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 2023, 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: 12th February 2024
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THE BEDFORDSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
BALANCE SHEET AS AT 31 DECEMBER 2023
| 2022 £ £ 60505 5638 1037 83740 105841 196256 5826 190430 250935 75000 102275 107259 4984 68676 250935 |
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 |
2023 £ £ 59200 4305 3382 79156 117393 204236 7569 196667 255867 75000 112353 4984 117337 63530 255867 |
2023 £ £ 59200 4305 3382 79156 117393 204236 7569 196667 255867 75000 112353 4984 117337 63530 255867 |
|---|---|---|---|
| 255867 |
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 Elizabeth Cochrane Director
Mrs Diane Sanbrook Director
Approved On: 12th February 2024
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THE BEDFORDSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023
| 2022 £ £ 23309 24204 3719 8281 375 640 60528 5628 66156 31150 21228 7550 1911 61839 769 62608 3548 |
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 |
2023 £ £ 24136 35704 5378 10437 0 2904 78559 3694 82253 32022 27927 8219 2020 70188 7133 77321 4932 |
2023 £ 24136 35704 5378 10437 0 2904 |
|---|---|---|---|
| 78559 3694 |
|||
| 4932 |
FUNDS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023
| 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 78559 70188 |
Unrestricted Funds 78559 70188 |
Restricted Funds 3694 7133 |
Restricted Funds 3694 7133 |
Total 2022 82253 77321 |
|
|---|---|---|---|---|---|---|
| 8371 1707 |
-3439 -1707 |
4932 0 |
||||
| 10078 102275 |
-5146 68676 |
4932 170951 |
||||
| 112353 | 63530 | 175883 |
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THE BEDFORDSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
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. land 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 1.1.23 Additions Depreciation Accumulated Depreciation as at 1.1.23 Charge for the year Net Book Value at 31 December 2023 Net Book Value at 31 December 2022 |
Freehold Property Furniture, 62, Adelaide Total Fittings & Square & Equipment Improvements |
| 20473 86075 106548 715 0 715 |
|
| 21188 86075 107263 |
|
| 16269 29774 46043 798 1222 2020 |
|
| 17067 30996 48063 |
|
| 4121 55079 59200 |
|
| 4204 56301 60505 |
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THE BEDFORDSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
| 3 4 5 6 7a b |
31.12.23 31.12.22 £ £ DEBTORS Trade Debtors 367 274 Prepayments 530 638 Expenses paid in respect of following year 2485 125 3382 1037 CURRENT ASSET INVESTMENTS Nationwide Building Society Account 31333 33450 COIF Charities Deposit Account 47823 50290 79156 83740 CASH AT BANK AND IN HAND Deposit Account 69163 66259 Current Account 47965 39417 Cash in Hand 265 165 117393 105841 CREDITORS Accrued Expenses 2857 3858 Amounts held in respect of following year 4712 1968 7569 5826 Unrestricted Funds Balance Balance as at Income Expend- Transfer as at 01.01.23 iture 31.12.23 General Reserve 102275 78559 -70188 1707 112353 Designated for Property Maintenance 4984 0 0 0 4984 107259 78559 -70188 1707 117337 Restricted Funds Balance Balance as at Income Expend- Transfer as at 01.01.23 iture 31.12.23 Bursary - Dr Braggins 1025 -200 825 W. I. Property & Office Fund 24322 2354 -3997 -677 22002 W. I. Suspensions (see page 6291 592 -40 6843 W. I. Formations & Recruitme 6047 -884 5163 Pooling of Accommodation 5047 96 -2012 3131 Denman Dip 64 64 Catering & Office Equipment 1329 367 1696 Denman College Furniture 1258 1258 Postage 0 30 -30 0 WI Bursaries 1035 1035 Save Denman/Love Denman 1664 1664 Speakers & Centenary 19037 19037 Catering Bursaries 0 0 Garden Fund 504 255 759 Communication & Publicity 1000 -1000 0 Groups 53 53 68676 3694 -7133 -1707 63530 |
31.12.23 31.12.22 £ £ DEBTORS Trade Debtors 367 274 Prepayments 530 638 Expenses paid in respect of following year 2485 125 3382 1037 CURRENT ASSET INVESTMENTS Nationwide Building Society Account 31333 33450 COIF Charities Deposit Account 47823 50290 79156 83740 CASH AT BANK AND IN HAND Deposit Account 69163 66259 Current Account 47965 39417 Cash in Hand 265 165 117393 105841 CREDITORS Accrued Expenses 2857 3858 Amounts held in respect of following year 4712 1968 7569 5826 Unrestricted Funds Balance Balance as at Income Expend- Transfer as at 01.01.23 iture 31.12.23 General Reserve 102275 78559 -70188 1707 112353 Designated for Property Maintenance 4984 0 0 0 4984 107259 78559 -70188 1707 117337 Restricted Funds Balance Balance as at Income Expend- Transfer as at 01.01.23 iture 31.12.23 Bursary - Dr Braggins 1025 -200 825 W. I. Property & Office Fund 24322 2354 -3997 -677 22002 W. I. Suspensions (see page 6291 592 -40 6843 W. I. Formations & Recruitme 6047 -884 5163 Pooling of Accommodation 5047 96 -2012 3131 Denman Dip 64 64 Catering & Office Equipment 1329 367 1696 Denman College Furniture 1258 1258 Postage 0 30 -30 0 WI Bursaries 1035 1035 Save Denman/Love Denman 1664 1664 Speakers & Centenary 19037 19037 Catering Bursaries 0 0 Garden Fund 504 255 759 Communication & Publicity 1000 -1000 0 Groups 53 53 68676 3694 -7133 -1707 63530 |
31.12.23 £ 367 530 2485 3382 31333 47823 79156 69163 47965 265 117393 2857 4712 7569 Expend- Transfer iture |
31.12.22 |
|---|---|---|---|---|
| £ 274 638 125 |
||||
| 1037 | ||||
| 33450 50290 |
||||
| 83740 | ||||
| 66259 39417 165 |
||||
| 105841 | ||||
| 3858 1968 |
||||
| 5826 | ||||
| Balance as at 31.12.23 |
||||
| 102275 78559 -70188 1707 112353 4984 0 0 0 4984 |
||||
| 107259 78559 -70188 1707 117337 |
||||
| Balance Balance as at Income Expend- Transfer as at 01.01.23 iture 31.12.23 |
||||
| 68676 3694 -7133 -1707 63530 |
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THE BEDFORDSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
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 |
31.12.23 £ 912 |
31.12.22 £ 912 |
||
|---|---|---|---|---|---|
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.
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