**Charity Registration No. 1044383**
**Company Registration No. 03013730 (England and Wales)**
# **THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 30 SEPTEMBER 2021**
## **THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Ms A Banks el Asmar||
|---|---|---|
||Mrs A Beckett||
||Mrs G Denny||
||Mrs N Dent||
||Mrs C M V Gough||
||Mrs S H Graham||
||Mrs J F Harding||
||Mrs E M Hignett||
||Mrs P A Jones|(Appointed 16 March 2021)|
||Mrs V Lee|(Appointed 16 March 2021)|
||Ms S J Leicester||
||Mrs W A Morris||
||Mrs S A Prescott||
||Mrs E A Pye||
|**Charity number**|1044383||
|**Company number**|03013730||
|**Registered office**|11 White Friars||
||Chester||
||CH1 1NZ||
|**Independent examiner**|Mitchell Charlesworth LLP||
||24 Nicholas Street||
||Chester||
||CH1 2AU||
## **THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 4|
|Independent examiner's report|5|
|Statement of financial activities|6|
|Balance sheet|7|
|Notes to the financial statements|8 - 17|
## **THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
The trustees present their report and financial statements for the year ended 30 September 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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) (effective 1 January 2019)".
## **Objectives and activities**
## **Object ives of the Charity**
The Women’s Institute organisation is based on the ideals of fellowship, truth, tolerance and justice, and its main purposes are:
- to advance the education of women for the public benefit in all areas, including local, national and international issues of political and social importance; music, drama and other cultural subjects; all branches of agriculture, crafts, home economics, science, health and social welfare;
- to promote sustainable development for the public benefit by educating people in the preservation, conservation and protection of the environment and the prudent use of natural resources, and by promoting sustainable means of achieving economic growth and regeneration;
- to advance health for the public benefit; and
- to advance citizenship for the public benefit by promotion of civic responsibility and volunteering.
The object ives of the charity, which remain unchanged from the previous accounting period, may be summarised as follows: to further the purposes of the WI organisation in Cheshire (both East and West) and the adjoining areas of Wirral, Halton, Warrington, parts of Salford, south Manchester, Tameside, Stockport, and elsewhere.
## **Public Benefit**
The trustees have had regard to the Charity Commission guidance on Public Benefit and believe that the services provided by the Cheshire Federation of Women’s Institutes are compliant with this, as outlined above. Public benefit is further exemplified in the following statements of Activities, and Achievements and Performance. The formation of one new WIs and, for various reasons the suspension of fifteen WIs has resulted in an overall decrease in membership but services continue to be available to women and communities within CFWI’s area of operation.
## **Activities**
2020 – The Centenary of Cheshire Federation
This financial year will not be forgotten for a long time to come....the Coronavirus Pandemic once again took control.
When we thought that events could finally start to be put on the calendar we found ourselves back in total lockdown for Christmas, unable to mix with family and friends and uncertain what the future would hold. Hopes were pinned on the introduction of the National Vaccine Programme.
Again, ‘face-to-face’ meetings had either to be cancelled, postponed or re-scheduled and ‘Zoom’ virtual meetings were used to stay in touch by the Board of Trustees and Sub-committees within the Federation.
- 1 -
## **THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
NFWI introduced a new subscription year to commence in April 2021 with the initiative to make the rates more flexible for WIs allowing them to set their own rate, over and above the fixed amounts for the National and Federation portions, and within the maximum rate, agreed by the National Council. Here in Cheshire we had hoped to forego the Federation part of the subscription thereby giving WIs even more flexibility but this was not possible under the rules of the Constitution, so we tried to find other ways to give our members and WIs value for money and will endeavour to do so in the future:-
With NFWI unable to hold their AGM at The Royal Albert Hall for the second year running, we processed and sent out refunds for Pooling of Fares and Delegate Expenses to all WIs.
The Cheshire News editorial team kept us up to date with bumper editions every two months, containing interesting articles from around the Federation with quizzes and recipes for extra interest. No additional charges were made this year.
The Sub-committees arranged Zoom meetings with talks on ‘Inspiring Women’, demonstrations on various crafts with membership participation and yoga for the more energetic............all free of charge.
For the second year running WIs were not asked to contribute towards their Public Liability Insurance cover.
## **Achievements and performance**
Slowly but surely, as the year progressed, there was a small light at the end of the tunnel. Our two members of staff started to return to work after being furloughed on the Government Job Retention Scheme. WIs started to meet again, outside at first in small groups, progressing to full meetings in their halls. Plans were once again put into the pipeline, still acting with caution, risk assessments undertaken, always ensuring everyone’s health and safety as the top priority.
Our thanks need to go to our Federation Secretary and Accounts Administrator for their willingness to help and be flexible.
Thanks to the WI Advisers who have once again been invaluable co-ordinating the WIs.
Also thanks to the Officers, Committees and members of all our WIs who have shown dedication over the past twelve months with true WI spirit.
## **The key elements for our medium to long term strategies are:**
- to continue to give support, encouragement and guidance to all 183 WIs in the Cheshire Federation;
- to offer a wide range of training, educational and cultural opportunities, promote lifelong learning, traditional skills, healthier, more sustainable lifestyles and personal development;
- to increase the WI’s influence on government, opinion formers and the general public by raising awareness of significant local, national and international issues, and to maintain the reputation of the organisation as a respected voice of reason, integrity and intelligence.
- 2 -
## **THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
## **The success of these strategies is measured by:**
Inviting, receiving and assessing direct feedback from the members; maintaining contact with NFWI, neighbouring federations and other charities, and with local and regional government; and by monitoring activities organised by other sections of the WI movement.
## **Financial review**
## **Review of the Year**
The statement of financial activities discloses an increase in the value of the charity’s investments of £19,285 (2020 – increase £6,102) and net incoming resources for the year amounting to £16,749 (2020 - £30.693). The trustees consider these results to be very satisfactory, and would like to record their thanks to all Federation members, staff, subcommittees and representatives for the dedication and hard work which has made this success possible.
## **Reserves Policy**
CFWI aims to hold sufficient reserve funds to meet its probable commitments should circumstances oblige the trustees to close the charity.
At the year end the charity held reserves of £663,097 (2020 - £626,813).
## **Investments Policy**
The charitable company's investment portfolio comprises bank, building society and NS & I deposits, and units in investment and unit trusts. Decisions concerning disposals of stocks and further investments are made by the Board of Trustees, based on advice from an independent investment broker.
## **Risk Policy**
The B oard has considered the major risks to which the charity may be exposed. In the opinion of the trustees, the combination of cash reserves and review systems should allow any risks in the day-to-day operations of CFWI to be mitigated to an acceptable level.
## **Plans for Future Periods**
## **Future obligations**
In the opinion of the trustees there are sufficient funds available to meet all future commitments.
During the coming year CFWI will again actively support the national membership recruitment initiative, continuing to form new WIs within our Federation’s area wherever there is local interest.
The charity will organise a full and varied programme of activities and training opportunities for members.
Plans and preparations for the Federation’s Centenary have once again been put on hold but hopefully in the future we will be able to celebrate with members, even if it has to be with scaled down numbers participating at any one time.
- 3 -
## **THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
## **Structure, governance and management**
The charity is a company limited by guarantee , incorporated on the 24 January 199 5 and is therefore governed by a Memorandum and Articles of Association. The registered office is 11 White Friars, Chester, CH1 1NZ. The charity is also a charity registered with the charity commission, registered number 1044383.
The charity's day to day operations are managed by the board of trustees and as such the charity employs no staff it would define as key management.
Rates of pay for employees are determined following consideration of salaries offered in the local employment market.
The trustees, who are also the directors for the purpose of company law, and who served during the year were:
Ms A Banks el Asmar Mrs A Beckett Mrs G Denny Mrs N Dent Mrs Z J Emmett (Resigned 20 April 2021) Mrs C M V Gough Mrs S H Graham Mrs J F Harding Mrs E M Hignett Mrs P A Jones (Appointed 16 March 2021) Mrs V Lee (Appointed 16 March 2021) Ms S J Leicester Mrs W A Morris Mrs S A Prescott Mrs E A Pye
Trustees, who must each be a member of a Women's Institute within the Cheshire Federation of WIs, may be elected or co-opted to the board, following nomination from the membership, in accordance with CFWI's constitution and rules.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
## **Transactions with Directors**
During the year the company reimbursed D irectors’ expenses amounting to £2,908 (2020 - £9,037) to 15 trustees.
## **Collection of Affiliation Fees**
Affiliation fees received during the year by the charitable company included £72,351 (2020 - £97,319), collected as agent for, and paid to, the National Federation of Women’s Institutes.
The trustees' r eport was approved by the Board of Trustees.
## **Mrs J F Harding**
Trustee Dated: 18 January 2022
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## **THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES**
I report to the trustees on my examination of the financial statements of The Cheshire Federation Of Women's Institutes (the charity) for the year ended 30 September 2021.
## **Responsibilities and basis of report**
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements 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 financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act) . In carrying out my examination I have followed all the applicable 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 that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements 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 financial statements 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 financial statements to be reached.
Mr Robert Hall, FCA Mitchell Charlesworth LLP
24 Nicholas Street Chester CH1 2AU
Dated: 19 January 2022
- 5 -
## **THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
|||**Unrestricted**|Unrestricted|
|---|---|---|---|
|||**funds**|funds|
|||**2021**|2020|
||**Notes**|**£**|**£**|
|**Income and endowments from:**||||
|Donations and legacies|**3**|243|1,838|
|Charitable activities|**4**|95,415|154,980|
|Investments|**5**|1,753|6,535|
|Other income|**6**|-|180|
|**Total income**||97,411|163,533|
|**Expenditure on:**||||
|Charitable activities|**7**|80,662|132,840|
|Net gains/(losses) on investments|**11**|19,285|13,183|
|**Net movement in funds**||36,034|43,876|
|Fund balances at 1 October 2020||626,813|582,937|
|**Fund balances at 30 September 2021**||662,847|626,813|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 6 -
## **THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES**
## **BALANCE SHEET**
## _**AS AT 30 SEPTEMBER 2021**_
|**Notes**
**Fixed assets**
Tangible assets
**12**
Investments
**13**
**Current assets**
Stocks
**15**
Debtors
**16**
Cash at bank and in hand
**Creditors: amounts falling due within one**
**year**
**17**
Net current assets
**Total assets less current liabilities**
**Income funds**
Unrestricted funds|**2021**
**£**
3,184
12,103
438,087
453,374
(18,356)|**£**
25,549
202,280
227,829
435,018
662,847
662,847
662,847|**2020**
**£**
4,493
15,875
419,775
440,143
(21,874)|**£**
25,549
182,995
208,544
418,269
626,813
626,813
626,813|
|---|---|---|---|---|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 September 2021.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 18 January 2022
Mrs A Beckett
**Trustee**
## **Company Registration No. 03013730**
- 7 -
## **THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES**
## **NOTES TO THE FINANCIAL STATEMENTS**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
## **1 Accounting policies**
## **Charity information**
The Cheshire Federation Of Women's Institutes is a private company limited by guarantee incorporated in England and Wales. The registered office is 11 White Friars, Chester, CH1 1NZ. The nature of the charity's operations and principal activities are described in the Trustees' Report on page 1.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's Memorandum and Articles, the Companies Act 2006 and "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) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements and having due regard to the impact of COVID-19, the trustees have a reasonable expectation that the c harity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for goods or services in order to raise funds and is recognised when entitlement has occurred.
Investment income is earned through holding assets for investment purposes such as shares and cash deposits . It includes dividends and interest. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend income is recognised as the charity’s right to receive payment is established.
- 8 -
## **THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
## **1 Accounting policies**
## **(Continued)**
## **1.5 Expenditure**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:
- Expenditure on charitable activities includes the costs incurred in the management of its various projects and activities; and
- Other expenditure represents those items not falling into the categories above.
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.
An analysis of these costs is included in note 8.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings Not depreciated - see below Fixtures and fittings 10% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
Freehold land and buildings relates to the charity's main premises at 11 White Friars, Chester, CH1 1NZ. The trustees have taken the decision not to depreciate the property as the estimated useful economic life of the asset is so long that depreciation would be immaterial to provide for in the accounts.
## **1.7 Fixed asset investments**
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year . Transaction costs are expensed as incurred.
## **1.8 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .
- 9 -
**THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
## **1 Accounting policies**
**(Continued)**
## **1.9 Stocks**
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell . Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
## **1.10 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.11 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity 's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled.
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## **THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
## **1 Accounting policies**
**(Continued)**
## **1.12 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received , where material.
## **1.13 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **1.14 Tax**
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Donations and legacies**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2021**|2020|
||**£**|£|
|Donations and gifts|243|1,838|
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## **THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
## **4 Charitable activities**
||**Charitable**|**Charitable**|
|---|---|---|
||**Income**|**Income**|
||**2021**|**2020**|
||**£**|**£**|
|Income from charitable activities|95,415|154,980|
|**Performance related grants**|||
|Cheshire news publications|-|11,062|
|Calendars and literature|2,302|11,638|
|Courses, events and raffles|580|-|
|Affiliation fees|72,351|80,977|
|Sub-committees|1,090|6,394|
|Core activity|19,092|22,755|
|Denman|-|22,154|
||95,415|154,980|
All income is classified as unrestricted.
## **5 Investments**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2021**|2020|
||**£**|£|
|Investment income|743|1,046|
|Interest receivable|1,010|5,489|
||1,753|6,535|
## **6 Other income**
||**Total**|Unrestricted|
|---|---|---|
|||funds|
||**2021**|2020|
||**£**|£|
|Room hire|-|180|
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## **THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
## **6 Other income**
## **(Continued)**
All income is classified as unrestricted.
## **7 Charitable activities**
||**Charitable**|**Charitable**|
|---|---|---|
||**Expenditure**|**Expenditure**|
||**2021**|**2020**|
||**£**|**£**|
|Staff costs|39,317|25,433|
|Depreciation and impairment|-|2,595|
|Direct costs|11,986|65,347|
|Rates and water|94|203|
|Light and heat|2,112|2,992|
|Repairs and maintence|2,315|2,753|
|Sub-committee travel|86|1,342|
|Sundry expenditure|768|631|
||56,678|101,296|
|Share of support costs (see note 8)|17,734|20,443|
|Share of governance costs (see note 8)|6,250|11,101|
||80,662|132,840|
- 13 -
## **THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
|**8**
**Support costs**
**Support costs**
**Governance**
**costs**
**£**
**£**
Insurance
7,468
-
Printing, postage and
stationery
4,584
-
Computer software and
website
4,278
-
Telephone
1,044
-
Bank charges
360
-
Accountancy
-
2,653
Legal and professional
-
2,076
C.F. committee and
meetings (incl. travel)
-
1,396
WIA Travel
-
125
17,734
6,250
Analysed between
Charitable activities
17,734
6,250|**2021**Support costs
Governance
costs
**£**
£
£
7,468
7,101
-
4,584
4,517
-
4,278
6,399
-
1,044
1,725
-
360
701
-
2,653
-
2,620
2,076
-
1,177
1,396
-
4,434
125
-
2,870
23,984
20,443
11,101
23,984
20,443
11,101|2020
£
7,101
4,517
6,399
1,725
701
2,620
1,177
4,434
2,870|
|---|---|---|
|||31,544|
|||31,544|
Governance costs includes payments to the auditors of £nil (2020 - £nil) for audit fees.
## **9 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
- 14 -
## **THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
## **10 Employees**
## **Number of employees**
The average monthly number of employees during the year was:
||**2021**|**2020**|
|---|---|---|
||**Number**|**Number**|
|Administrative staff|2|3|
|**Employment costs**|**2021**|**2020**|
||**£**|**£**|
|Wages and salaries|37,106|24,633|
|Other pension costs|2,211|800|
||39,317|25,433|
There were no employees whose annual remuneration was £60,000 or more.
## **11 Net gains/(losses) on investments**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2021**|2020|
||**£**|£|
|Revaluation of investments|19,285|13,183|
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## **THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
|**12**|**Tangible fixed assets**||||
|---|---|---|---|---|
|||**Freehold land**|**Fixtures and**|**Total**|
|||**and buildings**|**fittings**||
|||**£**|**£**|**£**|
||**Cost**||||
||At 1 October 2020|25,549|21,049|46,598|
||At 30 September 2021|25,549|21,049|46,598|
||**Depreciation and impairment**||||
||At 1 October 2020|-|21,049|21,049|
||At 30 September 2021|-|21,049|21,049|
||**Carrying amount**||||
||At 30 September 2021|25,549|-|25,549|
||At 30 September 2020|25,549|-|25,549|
|**13**|**Fixed asset investments**||||
|||||**Listed**|
|||||**investments**|
|||||**£**|
||**Cost or valuation**||||
||At 1 October 2020|||182,995|
||Valuation changes|||19,285|
||At 30 September 2021|||202,280|
||**Carrying amount**||||
||At 30 September 2021|||202,280|
||At 30 September 2020|||182,995|
||**Fixed asset investments revalued**||||
||The historical cost of investments is £138,127 (20 20 - £138,127). All investments are||valued at the|traded market|
||value at the balance sheet date.||||
|**14**|**Financial instruments**||**2021**|**2020**|
||||**£**|**£**|
||**Carrying amount of financial assets**||||
||Instruments measured at fair value through profit or loss||202,280|182,995|
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**THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
|**15**
**Stocks**
Finished goods and goods for resale
**16**
**Debtors**
**Amounts falling due within one year:**
Other debtors
Prepayments and accrued income
**17**
**Creditors: amounts falling due within one year**
Other creditors
Accruals and deferred income|**2021**
**£**
3,184
**2021**
**£**
-
12,103
12,103
**2021**
**£**
14,176
4,180
18,356|**2020**
**£**
4,493|
|---|---|---|
|||**2020**
**£**
250
15,625|
|||15,875|
|||**2020**
**£**
14,014
7,860|
|||21,874|
## **18 Related party transactions**
## **Remuneration of key management personnel**
The charities day to day operations are managed directly by the board of trustees with wages and salaries paid to staff employed in an administrative capacity only.
## **Transactions with related parties**
During the year the charity entered into the following transactions with related parties:
During the year the company reimbursed trustees' expenses amounting to £2,908 (20 20 - £ 9,037 ). The number of trustees who received expenses during the year was 15 (20 20 - 15).
The expenses were for travel and purchases made on behalf of the company during the year.
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