Registered number: 02996091 Charity number: 1042705
## THE SHROPSHIRE FEDERATION OF WOMENS INSTITUTES
## UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
THE SHROPSHIRE COUNTY FEDERATION OF WOMENS INSTITUTES (A company limited by guarantee)
## CONTENTS
||Page|
|---|---|
|Reference and administrative details of the Charity, its Trustees and advisers|4|
|Chairman's statement|5|
|Trustees' report|6 - 7|
|Independent examiner's report|8|
|Statement of financial activities|9|
|Balance sheet|10|
|Notes to the financial statements|11 - 25|
## THE SHROPSHIRE COUNTY FEDERATION OF WOMENS INSTITUTES
(A company limited by guarantee)
## REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020
|Trustees|Mrs H Dulson, Chair|
|---|---|
||Mrs J Bennett (appointed 14 July 2020)|
||Mrs D Henderson|
||Mrs D E Jones (resigned 14 January 2020)|
||Mrs H Lewis|
||Mrs L Oldham (appointed 14 July 2020)|
||Mrs M O'Neill|
||Mrs A Owen|
||Mrs P Pierce|
||Mrs J Taylor|
||Mrs B Thurgood|
||Mrs J M Turner|
||Mrs G Wheeler|
||Mrs C Wolfe|
|Company registered
number
Charity registered
number
Registered office
Accountants
|02996091
1042705
9 Park Plaza
Battlefield Enterprise Park
Shrewsbury
Shropshire
SY1 3AF
WR Partners
Chartered Accountants
Belmont House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG|
Page 4
## THE SHROPSHIRE COUNTY FEDERATION OF WOMENS INSTITUTES (A company limited by guarantee)
## CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2020
The chairwoman's statement for the year.
We started 2020 on a high after our centenary year culminated in a moving and joyful Carol Service at St Chad's in Shrewsbury. We were able to enjoy events more or less as normal through January and February, including some training sessions and our regular January lunches at Origins restaurant. Then we started to consider postponements as the news of the Coronavirus became more worrying. On 18th March 2021 we held an emergency board meeting and made arrangements for Nikki and Debbie, our office staff, to work from home as lockdown seemed inevitable.
The option for them to be furloughed was considered but rejected as we felt that we wanted to continue to provide members with as much administrative support as possible. Between them they arranged occasional visits to the office to check telephone messages and collect mail. This option also allowed us to continue produing a monthly newsletter which we considered to be a vital means of communication.
NFWI provided excellent support with regards to the legal implications of lockdown on the constitution and our charitable status. As well as routinely keeping in touch with WIs in their groups, our federation's WI Advisors took on the role of liason officer between NFWI and WIs. I whould like to thank them, and the presidents and secretaries they were contacting, for dealing with all the extra correspondence this entailed.
Virtual board meetingd have been held throughout lockdown and trustee Paula Pierce organised virtual events for members. We produced a new cookery book, "Lockdown Larder", with a cover photograph taken during the all-too-short period when small groups were allowed to meet. Sadly no large gatherings were permitted so our annual meeting could not take place at Theatre Severn but each WI received a copy of the Annual Review and the audited accounts for 2019. Diana Jones resigned from the board at the beginning of the year and I thank her for her support during her time as a trustee. We welcomed Josephine Bennet (Cressage WI) and Lynda Oldham (Sundorne WI) to the board in July. It has been my priviledge to act as SFWI Chairwoman and I should like to thank all the trustees, but especially my fellow officers, Bridget Thurgood, Glenys Wheeler, Dot Henderson, who stepped down as vice-chairwoman in June, and Margaret O'Neill, who was elected in her place, for their continuing support throughout a year of almost unprecidented events.
H Dulson Chairwoman
Date:
Page 5
## THE SHROPSHIRE COUNTY FEDERATION OF WOMENS INSTITUTES
(A company limited by guarantee)
## TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020
The Trustees present their annual report together with the financial statements of the Charity for the 1 January 2020 to 31 December 2020. The annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (update effective 1 January 2019) as amended by Update Bulletins 1 and 2.
## Objectives and activities
## a. Policies and objectives
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
The principle object of the Federation is to further the purpose of the Women's Institute movement in Shropshire and elsewhere as defined by the constitution.
## b. Strategies for achieving objectives
In order to fulfil the objectives of the WI movement federation sub committees have organised events, workshops and training for the benefit of members.
## Strategic report
## Achievements and performance
## a. Review of activities
Please refer to the Chairwoman's Statement on page 5.
## Financial review
## a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
## b. Reserves policy
Free reserves of the Federation stand at £163,499 (2019: £159,405), calculated as the unrestricted funds, less the designated funds and the tangible fixed assets.
The Trustees are aware of the level of reserves but feel these are reasonable in regard to fulfilling the objectives of the Federation as well as maintaining the county office, and believe that the reserves need to be at least equivalent to the normal annual expenditure.
Page 6
# THE SHROPSHIRE COUNTY FEDERATION OF WOMENS INSTITUTES
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
Structure, governance and management
## a. Constitution
The Shropshire County Federation of Womens Institutes is registered as a charitable company limited by guarantee and was constituted under a Memorandum of Association dated 29 November 1994. It is registered in England and Wales Charity Commission, charity number 1042705, and registered with Companies House, number 02996091.
## b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
The Board of Trustees elect the Chairman, Honorary Treasurer and other offices from their own number.
## c. Risk management
The Trustees have assessed the major risks to which the charitable company is exposed, in particular those related to the operations and finances of the charitable company, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.
## Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' report including the strategic report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on and signed on their behalf by:
Mrs B Thurgood (Trustee)
Page 7
## THE SHROPSHIRE COUNTY FEDERATION OF WOMENS INSTITUTES
(A company limited by guarantee)
## INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2020
## Independent examiner's report to the Trustees of The Shropshire County Federation of Womens Institutes ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2020.
## Responsibilities and basis of report
As the Trustees of the Charity (and 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 Charity 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 the Charity's accounts 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:
1. accounting records were not kept in respect of the Charity 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)].
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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated: S J Tweedie BSc FCA DChA
WR Partners Chartered Accountants Belmont House Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG
Page 8
## THE SHROPSHIRE COUNTY FEDERATION OF WOMENS INSTITUTES
(A company limited by guarantee)
## STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2020
|Note
Income from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investments
6
Total income
Expenditure on:
Raising funds
7
Charitable activities
9
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward|Unrestricted
funds
2020
£
36,042
17,122
4,217
1,013
58,394
513
57,153
57,666
728
369,885
728
370,613|Restricted
funds
2020
£
-
-
-
32
32
-
-
-
32
4,124
32
4,156|Total
funds
2020
£
36,042
17,122
4,217
1,045
58,426
513
57,153
57,666
760
374,009
760
374,769|Total
funds
2019
£
31,185
76,946
11,307
1,220
120,658
861
122,230
123,091
(2,433)
376,442
(2,433)
374,009|
|---|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 11 to 25 form part of these financial statements.
Page 9
## THE SHROPSHIRE COUNTY FEDERATION OF WOMENS INSTITUTES (A company limited by guarantee) REGISTERED NUMBER: 02996091
## BALANCE SHEET AS AT 31 DECEMBER 2020
|Note
Fixed assets
Tangible assets
13
Current assets
Stocks
14
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within one
year
16
Net current assets
Defined benefit pension scheme liability
20
Total net assets
Charity funds
Restricted funds
18
Unrestricted funds
18
Total funds|821
6,119
245,741
252,681
(14,570)|2020
£
142,932
142,932
238,111
(6,274)
374,769
4,156
370,613
374,769|1,422
4,107
248,849
254,378
(19,144)|2019
£
146,297
146,297
235,234
(7,522)
374,009
4,124
369,885
374,009|
|---|---|---|---|---|
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on and signed on their behalf by:
Mrs H Dulson
(Chair of Trustees)
The notes on pages 11 to 25 form part of these financial statements.
Page 10
THE SHROPSHIRE COUNTY FEDERATION OF WOMENS INSTITUTES (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
## 1. General information
The Shropshire Federation of Women's Institutes is a charitable company, constituted under a Memorandum of Association dated 29 November 1994 and incorpoarated in England and Wales. It is a registered charity, number 1042705.
## 2. Accounting policies
## 2.1 Basis of preparation of financial statements
The financial statements 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) (update effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Shropshire County Federation of Womens Institutes meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## 2.2 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
## 2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Page 11
THE SHROPSHIRE COUNTY FEDERATION OF WOMENS INSTITUTES (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
## 2. Accounting policies (continued)
## 2.3 Expenditure (continued)
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
## 2.4 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## 2.5 Tangible fixed assets and depreciation
Tangible fixed assets of capital nature are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
|Long-term leasehold property|-|2% straight line|
|---|---|---|
|Fixtures and fittings|-|10% straight line|
|Computer equipment|-|20% straight line|
## 2.6 Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
## 2.7 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## 2.8 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Page 12
THE SHROPSHIRE COUNTY FEDERATION OF WOMENS INSTITUTES (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
## 2. Accounting policies (continued)
## 2.9 Liabilities
Liabilities and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost.
## 2.10 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## 2.11 Pensions
Employees of the charity are members of a multi-employer scheme where it is not possible in the normal courses of events to identify the share of underlying assets and liabilities belonging to the individual employers. Therefore, as required by FRS102, the charitable company accounts for this scheme as if it were a defined contribution scheme.The pension charge represents the amounts payable by the charitable company to the fund in respect of the year. The pension scheme is in deficit and the charitable company is making additional deficit payments. Under the SORP a provision is required, based on these deficit payments.
## 2.12 Funds
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 13
## THE SHROPSHIRE COUNTY FEDERATION OF WOMENS INSTITUTES
(A company limited by guarantee)
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
3. Income from donations and legacies
|Unrestricted
funds
2020
£
Donations
2,403
Grants
5,000
Affiliation fees
28,639
Total 2020
36,042
4.
Income from charitable activities
Unrestricted
funds
2020
£
Membership and training
1,719
Show committee
-
Cultural & current affairs
2,867
Craft and home economics
216
Sports and leisure
1,374
NFWI AGM
-
Special events
3,929
Publications and stationery
2,014
Recharges for insurance
1,296
County news
3,707
AGM and Federation Council meeting
-
Total 2020
17,122|Total
funds
2020
£
2,403
5,000
28,639
36,042
Total
funds
2020
£
1,719
-
2,867
216
1,374
-
3,929
2,014
1,296
3,707
-
17,122|Total
funds
2019
£
539
150
30,496
31,185|
|---|---|---|
|||Total
funds
2019
£
2,424
515
4,737
9,924
5,145
3,011
32,621
2,457
-
6,042
10,070
76,946|
Page 14
## THE SHROPSHIRE COUNTY FEDERATION OF WOMENS INSTITUTES
(A company limited by guarantee)
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
## 5. Income from other trading activities
## Income from fundraising events
|Unrestricted
funds
2020
£
Shropshire calendars
3,065
Centenery merchandise
740
Centenery recipe books
25
Claremont club
-
NFWI - raffle
387
Denman dip
-
Federation annual council raffle
-
Total 2020
4,217|Total
funds
2020
£
3,065
740
25
-
387
-
-
4,217|Total
funds
2019
£
3,925
3,342
1,255
1,245
744
232
564
11,307|
|---|---|---|
## 6. Investment income
|Unrestricted
funds
2020
£
Bank interest received
1,013
Total 2019
1,151|Restricted
funds
2020
£
32
69|Total
funds
2020
£
1,045
1,220|Total
funds
2019
£
1,220|
|---|---|---|---|
|||||
Page 15
## THE SHROPSHIRE COUNTY FEDERATION OF WOMENS INSTITUTES
(A company limited by guarantee)
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
## 7. Expenditure on raising funds
## Costs of raising voluntary income
|Unrestricted
funds
2020
£
Claremont club
282
Centenery expenditure
-
Denman dip
231
Total 2020
513|Total
funds
2020
£
282
-
231
513|Total
funds
2019
£
(583)
979
465
861|
|---|---|---|
## 8. Analysis of grants
|Grants, other
Grants, Denman weekend
Total 2019|Grants to
Individuals
2020
£
250
-
250
750|Total
funds
2020
£
250
-
250
750|Total
funds
2019
£
-
750
750|
|---|---|---|---|
|||||
Page 16
## THE SHROPSHIRE COUNTY FEDERATION OF WOMENS INSTITUTES
(A company limited by guarantee)
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
## 9. Analysis of expenditure by activities
|Charitable activities
Denman weekend
Total 2020
Total 2019|Activities
undertaken
directly
2020
£
16,573
-
16,573
77,048|Grant
funding of
activities
2020
£
250
-
250
750|Support
costs
2020
£
40,330
-
40,330
44,432|Total
funds
2020
£
57,153
-
57,153
122,230|Total
funds
2019
£
121,480
750
122,230|
|---|---|---|---|---|---|
|||||||
Analysis of direct costs
|Membership & training
Show committee
Cultural & current affairs
Craft and home economics
Sports and leisure
Special events
Publications and stationery
Denman weekend
County news
AGM and Federation Council meeting
Irrecoverable VAT
Governance costs
Total 2020
Analysis of support costs|Total
funds
2020
£
542
9
2,541
192
1,072
1,950
3,906
-
2,930
-
(406)
3,837
16,573|Total
funds
2019
£
2,879
1,160
3,125
8,021
3,028
2,373
5,546
28,544
6,065
8,933
1,082
6,292
77,048|
|---|---|---|
||||
Page 17
## THE SHROPSHIRE COUNTY FEDERATION OF WOMENS INSTITUTES
(A company limited by guarantee)
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
## 9. Analysis of expenditure by activities (continued)
## Analysis of support costs (continued)
|Staff costs
Depreciation
Subscriptions
County office running expenses|Total
funds
2020
£
27,866
3,365
12
9,087
40,330|Total
funds
2019
£
29,442
3,375
787
10,828
44,432|
|---|---|---|
## 10. Independent examiner's remuneration
The independent examiner's remuneration amounts to an independent examiner fee of £2,800 (2019 - £2,745).
## 11. Staff costs
|Wages and salaries
Defined contribution pension scheme charge|2020
£
26,588
1,278
27,866|2019
£
28,152
1,290|
|---|---|---|
|||29,442|
The average number of persons employed by the Charity during the year was as follows:
||2020|2019|
|---|---|---|
||No.|No.|
|Employees|2|3|
No employee received remuneration amounting to more than £60,000 in either year.
Page 18
## THE SHROPSHIRE COUNTY FEDERATION OF WOMENS INSTITUTES
(A company limited by guarantee)
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
## 12. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2019 - £NIL).
During the year ended 31 December 2020, expenses totalling £963 were reimbursed to 11 Trustees (2019 - £3,498)
## 13. Tangible fixed assets
|Cost or valuation
At 1 January 2020
At 31 December 2020
Depreciation
At 1 January 2020
Charge for the year
At 31 December 2020
Net book value
At 31 December 2020
At 31 December 2019
14.
Stocks
Stock held for sale|Long-term
leasehold
property
£
165,794
165,794
19,546
3,316
22,862
142,932
146,248|Fixtures and
fittings
£
7,622
7,622
7,573
49
7,622
-
49|Computer
equipment
£
8,537
8,537
8,537
-
8,537
-
-
2020
£
821|Total
£
181,953
181,953|
|---|---|---|---|---|
|||||35,656
3,365
39,021|
|||||142,932|
|||||146,297|
|||||2019
£
1,422|
Page 19
## THE SHROPSHIRE COUNTY FEDERATION OF WOMENS INSTITUTES
(A company limited by guarantee)
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
## 15. Debtors
|Due within one year
Trade debtors
Other debtors
Prepayments and accrued income
Tax recoverable
16.
Creditors: Amounts falling due within one year
Trade creditors
Other taxation and social security
Accruals and deferred income
17.
Pension provision
At 1st January 2020
Movement in year
At 31 December 2019|2020
£
1,316
-
4,169
634
6,119
2020
£
1,085
583
12,902
14,570
2020
£
7,522
(1,248)
6,274|2019
£
1,679
200
2,228
-
4,107
2019
£
538
677
17,929
19,144
2019
£
8,714
(1,192)
7,522|
|---|---|---|
Page 20
## THE SHROPSHIRE COUNTY FEDERATION OF WOMENS INSTITUTES
(A company limited by guarantee)
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
## 18. Statement of funds
Statement of funds - current year
|Statement of funds - current year|||||
|---|---|---|---|---|
|Unrestricted funds
Designated funds
Rainy day fund
NFWI raffle fund
Denman bursary fund
Office fund
Denman bedroom fund
General funds
General Funds - all funds
Total Unrestricted funds
Restricted funds
Denman bedroom fund
Denman travel fund
County bursary fund
Broadhurst memorial fund
Total of funds|Balance at 1
January
2020
£
1,835
1,747
500
60,000
100
64,182
305,703
369,885
472
1,137
1,765
750
4,124
374,009|Income
£
-
-
-
-
-
-
58,394
58,394
-
-
32
-
32
58,426|Expenditure
£
-
-
-
-
-
-
(57,666)
(57,666)
-
-
-
-
-
(57,666)|Balance at
31
December
2020
£
1,835
1,747
500
60,000
100
64,182|
|||||306,431|
|||||370,613|
|||||472
1,137
1,797
750
4,156|
|||||374,769|
Page 21
## THE SHROPSHIRE COUNTY FEDERATION OF WOMENS INSTITUTES
(A company limited by guarantee)
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
## 18. Statement of funds (continued)
Statement of funds - prior year
|Unrestricted funds
Designated funds
Rainy day fund
NFWI raffle fund
Denman bursary fund
Office fund
Denman bedroom fund
General funds
General Funds
Total Unrestricted funds
Restricted funds
Denman bedroom fund
Denman travel fund
County bursary fund
Suspended institutes fund
Broadhurst memorial fund
Total of funds|Balance at
1 January
2019
£
1,835
1,747
500
60,000
100
64,182
306,778
370,960
472
1,137
1,696
1,402
775
5,482
376,442|Income
£
-
-
-
-
-
-
120,589
120,589
-
-
69
-
-
69
120,658|Expenditure
£
-
-
-
-
-
-
(123,066)
(123,066)
-
-
-
-
(25)
(25)
(123,091)|Transfers
in/out
£
-
-
-
-
-
-
1,402
1,402
-
-
-
(1,402)
-
(1,402)
-|Balance at
31
December
2019
£
1,835
1,747
500
60,000
100
64,182|
|---|---|---|---|---|---|
||||||305,703|
||||||369,885|
||||||472
1,137
1,765
-
750
4,124|
||||||374,009|
Page 22
THE SHROPSHIRE COUNTY FEDERATION OF WOMENS INSTITUTES (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
.
## DESIGNATED FUNDS
## Rainy day fund
To be used, at the discretion of the Executive Committee, for helping institutes who are in trouble financially.
## NFWI Raffle
A raffle is held each year and it is at the discretion of the trustees how to spend the net proceeds. An adjustment has been made in the expenditure figure above to better reflect the carried forward position of the fund, which represents the bursaries which are to be paid from the proceeds of the raffle.
## Office fund
This fund represented the cash proceeds from the sale of the prior in 2013 which was designated for the purchase of the new office premises in 2014. During the year a balance was transfered into unrestricted funds to cover the cost of the additions to the property during the year, and the balance is being held to cover future capital additions.
## Denman bedroom fund
Represents additional monies set aside by the trustees to sponsor a bedroom at Denman. The fund can be used to pay for the furnishing, repairs and maintenance of the bedroom.
## RESTRICTED FUNDS
## Denman bedroom fund
Represents monies collected to sponsor a bedroom at Denman. The fund can be used to pay for the furnishing, repairs and maintenance of the bedroom.
## Denman travel fund
Can be used to pay travelling expenses of the members attending Denman.
## County bursary fund
Can be used to pay towards training courses of members of the Shropshire County Federation of Women's Institutes.
## Suspended institutes fund
Represents monies held on behalf of institutes which have been suspended. After three years, if the institute is not reinstated, any monies received will be transferred to unrestricted funds.
## Ethel Broadhurst memorial fund
To be used to give an annual prize to the institute preparing the best press report during the year.
Page 23
THE SHROPSHIRE COUNTY FEDERATION OF WOMENS INSTITUTES (A company limited by guarantee)
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
## 19. Analysis of net assets between funds
## Analysis of net assets between funds - current period
|Unrestricted
funds
2020
£
Tangible fixed assets
142,932
Current assets
248,525
Creditors due within one year
(14,570)
Provisions for liabilities and charges
(6,274)
Total
370,613|Restricted
funds
2020
£
-
4,156
-
-
4,156|Total
funds
2020
£
142,932
252,681
(14,570)
(6,274)
374,769|
|---|---|---|
Analysis of net assets between funds - prior period
|Tangible fixed assets
Current assets
Creditors due within one year
Provisions for liabilities and charges
Total|Unrestricted
funds
2019
£
146,297
250,254
(19,144)
(7,522)
369,885|Restricted
funds
2019
£
-
4,124
-
-
4,124|Total
funds
2019
£
146,297
254,378
(19,144)
(7,522)
374,009|
|---|---|---|---|
## 20. Pension commitments
The employees are members of the TPT Retirement Solutions Scheme. This is a multi-employer benefit scheme. It is not possible for the charitable company to identify its share of the current assets and liabilities of the scheme and therefore it is treated as a defined contribution scheme.
The assets of the scheme are held seperately from those of the charitable company in independently administered funds. The pension cost charge represents contributions payable by the charitable company to the fund, after adjusting for the movement on the provision noted below, and amounted to £1,248 (2019: £1,104).
The scheme is in deficit and the charitable company has agreed a deficit funding agreement and therefore a liability for this obligation has been accounted for.
Page 24
THE SHROPSHIRE COUNTY FEDERATION OF WOMENS INSTITUTES (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
## 21. Related party transactions
There were one related party transactions during the year. A family member of a trustee was awarded a grant to the value of £250, which has not yet been paid out and is treated as an accrual in the accounts.
Page 25