Charlty regIratIon number IIM4383 Company re8lstratlon number 03013730 IEn8land and Wales) THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES LEGAL AND ADMINISTRATIVE INFORMATION Trustees Ms A Banks el Asmar Mrs A Beckett- Hon Treasurer Mrs S 8entley Mrs N Oent (Appointed 29 March 20231 Mrs S H Graham Mrs J F Harding Mrs P A Jones Mrs V Lee Ms S J Leicester Mrs W A Morris Mrs S A Pre5cott- Chalr MrsEAPye Chorlty number 1044383 Company nurnr 03013730 Reglstered offlce 11 White Frlars Chester CHI INZ Independent examlner Mltchell Charlesworth 24 Nicholas Street Chester CH12AU
THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES CONTENTS Pagt Trustees. report Independent examiner's report Statement ol financial activities 8alance sheet Note5 to the financial staternents 8-16
THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES TRUSTEES. REPORT (INCLUDING DIREcfoRS' REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2023 The trustees present their annual report and financial statements for the year ended 30 September 2023. The financial statement5 have been prepared in accordance with the accounting policies set out in note I to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting bv Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financlal Reportin8 standard applicable in the UK and Republic of Iland IFRS 1021 (effective l January 20191" Oblectl and artlvltlts Oblectlves of the Charlty The Women's Institute organSsation Is based on the ideals of fellowshlp. truth. talerance and lustSce. and its main purposes are.. to advance the education of women for the public benefit in all area5, including local. national and international issues of political and social importance,. music, drama and other cultural subjects,. all branches of agriculture, crafts, home economics, sclence, health and social welfare,. to promote 5U5talnable developrnent for the public benefit by educating people in the preservatlon. conservation and protection of the environment and the prudent Use ol natural resource5, and by prornoting sustainable means ol achieving economic growth and re8eneration,' to advance health for the publlc beneflt. and to advance titizènship for thè publit benefit by promotion of tivit rèsponsibility and volunteering. The objective5 of the charity, which rernain unchan8ed from the previou5 accountlng perlod. may be 5urnrnarised a5 follow5.' to further the purposes of the Wl organisation in Cheshire Iboth East and Westl and the adjolning area5 of Wlrral, Halton, Warrin8ton, parts of Salford, 50Uth Manchester, Tameside, Stockport, and elsewhere. Publ1¢ 8eneflt The trustees have had regard to the Charity Commisslon 8uldance on Public Benefit and believe that ihe 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 Achievement5 and Performance. Even though no new Wis have been formed. and for various reasons 4 have suspended. the overall membership number has remained quite buoyant resultin8 in services continuin8 to be available to wornen and communities within CFWI'S area of operation.. Actlvltles At last. a felling ol'normality, after the Covid pandemlc.. Mernbers were able to meet again and a full Calendar of events put into practice. Both Board and Sub-cornmittees held their rneetings using the hybrid facility giving more flexibility, thereby cutting down on time travelled and expense5 incurred. A relaxed and vibrant atmosphere welcomed members to Christmas at Whlte Frlars, many of whom had not visited before. They ate bacon bap5 and rnince pies, drank mulled wine and coffee, had a conducted tour and history of Wl House, bought raffle tickets and gifts, before going on their way to enjoy the delight5 of the City of Chester. 2023 was a very significant year for many of u5 when we witnessed the Coronation of King Charles 111. Most Wl's celebrated in style with flags flying, bunting draped and red, white and blue outfits worn.
THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES TRUSTEES. REPORT (INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 March wa5 the month of our Annual Council Meetlng held at The Winsford Acaderny and lead by Selina Prescott. our new Chair. Following the formal business ègend3 we were treated to 3 truly inspirational speaker and performer. Paul Whittaker, who gave us an insight into his work with "Music for the Deaf-. Cardiff was the venue for the NFWI AGM when both delegates and some observers enjoyed an overni8hi stay with the chance to experience the Wl a5 a proud voice for women. Thi5 wa5 closely followed by the Royal Cheshire County Show in June. when the overall theme for our rnarquee wa5 "Once Upon a Time" Exhibitors rose to the challenge to interpret the different class titles, showcasing some excellent workmanship and creating a lively environment albeit a little wet and soggy at times... .you can't order the weatherl The Sub-cornmittees have or8anlzed a lull pro8ram ol activlties for members to have access to and enjoy.. darts, bowls, 8olf and pllates for the more energetlc,. craft workshops and Chrlsimas wreathmaklng for the creative,. theatre and boat trlps lor those who like to be entertained and relax,. quizzin8 and even li8saw races lor anyone who likes a challengel Whatever next? Re501utions were debated by our Public Affair5 tearn along with up-to-date awarene55 of current environmental 5s5ues from the Cllrnate Ambassadors. and the Archlves are under8oln8 a ma5sive'sort out, and relocatlon. The Cheshire News Editorial team hosted the Literary Lunch at Hartford Goll Club, whiih proved to be a very popular venue. Both di8ltal and hard coples of the Cheshlre Newsletter are avallable, free of char8e, to all members. FollowSng on frorn the Conditlon Survey undertaken on Wl House last year, renovations and necessary improvement5 have been prioritized and work ha5 started. and in some cases completed, the cost ol which is reflected in this set of account5. Obviously this is ongoing as is true of any property maintenance. ensuring regulations are met, policie5 are being checked and re-written and further assessments undertaken. Achlevements and p•rfomianc• Once again tralning was hlgh on the agenda. All Wl Treasurers were invlted to attend one ol slx free workshop5 held around the Federation, on different days of the week and at varying times. Not all those eli8lble chose to attend but useful tlps and Ideas were dlscussed helpln8 Officers wlth thelr role whllst still adherln8 to the rules of the Constltulion and Charity Law. Several new Independent Financial Examiners participated in a course financed by the Federation and held at White Friar5. They all qualified with flying colours and have now joined Cheshire'5 conscientiOU5 team ol IFE'5. More courses to follow. Our Federation Secretary and Accounts Admlnistrator need to be thanked lor thelr hard work and dedlcatlon which make for a smooth runnln8 offlce envSronmeni, even thou8h procedures, technoloBy and le8lslation are constantly chan8ln8 and are 50metirne5 challenging to implement. Wl Advi5er5 are the first port ol call for all Wl's with any que5tion5 or who need help in any way. Thank5 are 8iven to our very busy team who are always available with advice and support. Flnally, thanks must 80 to the Offlcers, Commlttees and members who, as volunteers, support thelr Wl's and communltles throu8hout the Federation. The key elements for our medium to long term strategies are: to continue to give support, encouragement and guidance to all 177 Wls in the Cheshire Federation., io offer a wide range ol training, educatlonal and cultural opportunllies, promote Illelong learning, traditlonal Skills. healthier. rnore 5UStainable life5tyle5 and personal development., to increase the Wl's influence on government, opinion formers and the general public by raising awareness of significant local, national and international issues. and to maintain the reputstion of the organisation as a respected voice of reason, integrity and intelligence.
THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES TRUSTEES. REPORT (INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 The succe55 of these strategie51s measured by.. Inviting, receiving and assessing direct feedback from the members.. maintaining contact with NFWI, neighboring federations and other charities, and wlth local and reglonal government., and by monltorin8 activitles or8anised by other sections of the Wl movement. F5nanclal review Revlew ol the Year The statement of financial activitie5 di5c105es a increase in the value of the charity's investment5 01 £8,669 12022 decrease £37,608) and net incomin8 resources for the year amounting to a decrease of £6,70012022 increase £9,363). The trustees consider these results to be sat15factory. and would like to record their thanks to all Federation members, Staff, sub-committees and representatives for the dedication anil hard work which has made this possible. Reserves Pollcv CFWI alms to hold sufficient reserve funds to meet Sts probable commltments should cSrcumstances obll8e the trustees to close the charity. At the year end the charity held reserves 01 £636,57112022- £634.6021. Investment5 Poll¢v The charltable company's Investment portfolio comprises bank, bulldin8 socleiy and NS & I deposlis, and unlts In Investment and unit trusts. Decisions concernin8 di5P05als of stocks and further investment5 are mède by the Board ol Trustees. based on advice frorn an independent investment broker. R15k Pollcy The 8oard 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 rlsks In the day-to-day operations of CFWI to be mitl8ated to an acceptable level. Plans for Future Perlods FUre obllgatlons In the opinlon of the trustees there are sufficient funds available to meet all future commitments. Durin8 the comin8 year CFWI will a8ain actively support the national membership recruitment initiative. continuin8 to form new W15 Wlthin our Federation's area wherever there 15 local interest. The charity will organise a full and varied programme of activities and training opportunities for members. The short and long term strategy of the Federation will be dlscussed and agreed, ensurlng that future plans and alms are forward thinkinB for the ease of practice, whi15t bein8 inclusive of the need5 and enjoyrnent of the mernbership and ultimately financially viable.
THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES TRU5TEES' REPORT (INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Struclure governance and mana8efflent The charity is a coimpany lirnited by guarantee, Incorporated on the 24 January 1995 ènd is therefore govemed by a MeTTLorandum and Artlcle5 of A550ciation. The registered offite 15 11 White Friars. Che5tti. CHI INL The charlty is also harity r¢gi5tered wilh the charity oomrn15$5on. re815tered number 1044383. The charily's clay io day operailons a mana8ed by ihe board ol trustees and as such ihe charity employs no staff li would define as key management. Rate5 01 pay lor employee5 are deltmilned followlng considtratlon o15o1arles offered In the lotal employment marknt. The trustee5. who are also the dtrertors for the purpose ol company law. ond who rved during the year were.. Ms A 8anks el Asmar Mrs A Beckett - Hon Treasurer Mrs S Bentley Mrs G Denn¥ Mrs N Dent S H Graham Mrs l F Hardin8 Mrs P A Jones Mrs V Lee Ms S l Lelcester (Appoinied 29 March 20231 IHe5igned 29 March 20231 Mr5 W A Morris Mrs S A Prescott- Chilr MrsEAFe Truee$, who must each be a member ol a Women's Instliute wlthln ihe Cheshlre FeLJeraiion ol Wls, may be elected or co. opted to the board. lollowln8 nominaiion ffom the membershlp, In accordance wlth CFWI'S constllutSon and rules. None of the trustees has any beneficial Interesi In tht company. All of the iTY5tees are members of the company and £yar3ntee to contrlbute £1 In the event ot a windlng up. Trn(Vo$ wlth Dlrqrtors During the yearthe company reimbursed Dlrectors, expenses aMnting io £10,66612022. £7,365) to 14 irustees. Coll•ctlon of Affllhtlon F•s Afflliatlon fees recelved durln8 The year by the charitable cornpany included £IOI,(YJ9. collected a5 agent for. and paid to, the Natlonal Federatlon ol Women's In5111Utes, The ees. T rove Ir Y4aby the Board of Trustees. Mrs S A Prescott- Chalr Trustee 171011?0?4 Dated: .........................
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 Ithe charity) for the year ended 30 September 2023. Re5ponsibilitie5 and basis of report As the trustees ol the charity land also Sts dSrectors for the purposes of company lawl you are responslble lor the preparation of the financial staternents in accordance with the requirernents of the Companies Act 2006 Ithe 2006 Act). Havlng satlsfied myself that the financial statements of the charlty are not requlred to be audlted under Part 16 01 the 2006 Act and are eligible for independent examinatlon, I report in respeci of my examinatlon of the charity's financial statement5 carried out under section 145 of the Charitie5 Act 2011 (the 2011 Act). In carrying Out rny exarnination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl ol the 2011 Act. Independent examlner's statement I have completed my examination. I conflrm that no matters have come to my attentSon In connection wlth the examlnatlon 8iving me cause to belleve that in any materlal respect.. accountlng records were not kept in respect of the charity a5 required by section 386 of the 2006 Act,. or the financial statement5 do not accord with those records., or the financial 5tatement5 do not comply with the accounting requirèrnents of section 396 of thè 2006 Act othèr than any requirement that the accounts give a true and fair view which 15 not a matter considered as part of an independent examlnation.. or the financial staternents have not been prepared in accordance with the methods and prlnciples ol the Staternent of Recommended Practice for accounting and reporting by charities appllcable to charitles preparing thelr account5 in accordance with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other matter5 in connection with the examlnatlon to whlch attentltsn should be drawn in this report in order to enable a proper understanding of the flnanclal statements to be reached. Mr Robert Hall, FCA Mitchell Charlesworth 24 Nicholas Street Chester CHI 2AU Dated.. 18101/2024
THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2023 Unrestrlcted Unrestrlrted funds funds 2023 2022 Notes Income from.. Donations and leBacie5 1,871 131,246 4,(KJ4 6,120 113,820 932 Investments Totzl Income 137.121 120,872 Ex endlture on.. 143,821 111,$09 Nei gainslllossesl on Investments io 8,669 137,6081 Net movement Sn funds 1.969 128,2451 Fund balances at l October 2022 634,602 662,847 Fund bal4n¢es at 30 September 2023 636,571 634,602 The statement ol flnancial actlvlties Includes all 8alns and losses reco8nised In the year. All Income and expenditure derive from continuing activltie5. The Statement ol linanclal actlvlties also cornplles with the requlrements for an Income and expendSture account under the Companies Act 2006.
THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES BALANCE SHEET AS AT30 SEPTEMBER 2023 2023 2022 Note5 Flxed ass$ Tangible assets Investments 12 13 25,549 173,340 25,549 164,672 198.889 190,221 Current assets Stocks Debtors Cash at bank and Sn hand 14 15 2.475 10.276 447.115 2,952 6,307 451,833 459.866 461,092 Credltors: amount5 falllng due wlthln one year 16 122,1841 116,7111 Net current as5et5 437.682 444,381 Total assets less current Ilabllltles 636,571 634,602 Intome funds Unrestrlcted funds 636,571 634,602 636,571 634,602 The company Is entltled to the exemptlon from the audlt requirement contained In sectlon 477 of the Companles Act 2006, for the year ended 30 September 2023. The directors acknowledge their responsibilities for complyin8 Wlth the requlrements of the Companles Act 2006 wlth respect to accounting record5 and the preparation of financial statement5. The mernbers have not requlred the company to obtain an audlt of Its financial statements for the year In questlon Sn accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regirne. 1510112024 The f1na tements we proved by the Trustees on Mrs A Beckett- Hon Treasurer Trustee Company re8lstratlon number 03013730
THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 Accountlng pollcles Charlty Inlormatlon The Cheshlre Federatlon Of Women's Insiitutes Is a private company Ilmlted by 8uarantee incorporated in England and Wales. The reglstered office is 11 White Frlars, Chester, CHI INZ. The nature ol the charity's operations and principal activities are described in the Trustees, Report on page l. 1.1 Accountlng ¢onventlon The financial statement5 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 ol Ireland IFRS 1021 (effective l January 20191" The charity is a Publlc Benefit Entity as deflned by FRS 102. The charity ha5 taken advantage of the prtsvi5ions in the SORP lor charitle5 applying FRS 102 Update Bulletin I not to prepare a Statement of Cash Flows. The flnancSal statement5 are prepared in 5terlin8. which is the functional currency of the charity. Monetary amount5 in these financial statements are rounded to the nearest £. The flnanclal statements have been prepared under the hlstorlcal cost conventlon, modllled to Include certain flnanclal instruments at fair value. The princlpal accountln8 pollcles adopted are set out below. 1.2 Golng concern At the time of approving the financial statement5 and having due regard to the impact of COVID-19, the trustees have a reasonable expectatlon that the charlty has adequate resources to continue In operational existence for the foreseeable luttsre. Thus, the trustees continue to adopt the 80in8 contern basls ol accountin8 in preparSn8 the financial statements. 1.3 Charltable funds Unrestricted funds are avallable for use at the dlscretion of the trustees In furtherance ol thelr charitable objectlves. 1.4 Income Income is recognised when the charitv 15 legally entitled to it after any performance conditions have been met. the amount5 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 ol the donation. unles5 performance condition5 require deferral of the arnount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recogni5ed at the time of the donation. Legacles a recognised on receipt or otherwise if the charity has been notifSed of an impending distribution, the arnount 15 known. and receipt 15 expected. 11 the amount 15 not known, the legacy is treated a5 a contingent asset. Income from tradlng activitles 5ncludes Income earned from fundralslng events and tradlng actlvitles to ralse funds for the charity. Income is received in exchange for goods or services in order to ralse funds and Ss recognSsed 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 reco8nised a5 the charity's right to receive payrnent is established.
THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Accounting pollcles Icontlnuedl 1.5 Expendlture All expenditure is accounted for on an accrua15 basi5 and has been classified under headin85 that a88regate all c05t5 related to the category. Expenditure is recognised where there is a leB31 or constructive obligation to make payment5 to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It Ss categorised under the following headings: Expenditure on charStable activlties Sncludes the costs incurred Sn the mana8ement of its varltsus prolects and activities.. and Other expenditure represents those iterns not fallin8 into the cate8ories above. Irre£overable VAT Is char8ed as an expense agalnst the actSvlty for whSch expendlture arose. Support costs are those that asslst the work of the char5ty but do not dlrectly represent charitable actlvltSe5 and Include office costs, 8overnance costs, administratlve payroll costs, They are Incurred directly in support of expenditure on the oblects of the charlty and Include proleci mana8ement carrled out at Headquarters. Where support Costs cannot be directly attributed to particular headin8S they have been allocated to cost of raising funds and expenditure on charitable activities on a basi5 consistent with use of the resources. An analysis of these cost5 IS Included in note 8. 1.6 Tan8lble Ilxed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation. net of depreciation and any impairment losses. Depreclation Is recogn1sed so a5 to write off the cost or valuatSon of assets less thelr re51dual values over their useful lives on the followin8 bases.. Freehold land and buildlnBs Flxtures and fittln8s Not depreciated- see below IO% reducln8 balance The gain tsr1055 ari5in8 on the di5P05al ol an asset is determined as the difference betwèen thè salè proceèds and the carrying value ol the a55et. and is recogni5ed in the staternent ol financial activitie5. Freehold land and buildings relates to the charity's main premise5 at 11 White Friar5, Chester. CHI INZ. The tru5tee5 have t3ken the cjecision not to depreciate the property as the estimated useful economic life of the asset is so long that depreciation would be irnmaterial to provide for in the accounts. 1.7 Flxed asset Investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequentlv measured at fair value at each reporting date. Chan8es in fair value are recognised in net Income/lexpendlturel for the year. Transaction costs are expensed as incurred. 1.8 Impairment of fixed 35set5 At each reporting end date, the charity vIewS the carrying amounts of its tsngible assets to determine whether there is any Indicatlon that those assets have sUffed an Impairment loss. If any such Sndication exlsts, the recoverable amount ol the asset is estimated in order to determine the extent of the impairment loss lif any).
THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Accounting pollcles Icontlnuedl 1.9 Stocks Stocks are stated at the lower tsf cost and estimated selling prlce less costs to complete and sell. Cost comprises direct materia15 and, where applicable. direct labour costs and those overheads that have been incurred in bringing the stock5 to their present location and condition. Items held lor 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 marketin8, selling and distribution. 1.10 Cash and cash èqulval•nts Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-term liquid investments with original maturities ol three months or less, and bank overdrafts, 8ank overdrafts are shown within borrowin8s in 1.11 Flnanclal Instrumènts The charity has elected to apply the provlslons of Sectlon 11 '8aslc Flnancial Instruments. and Section 12 '0ther Flnanclal Instruments Issues, of FRS 102 to all of Its flnanclal instruments. Financial instrument5 are recognised in the charity's balance sheet when the charity becornes party to the contractual prgVlsion5 of the instrument. Flnanclal assets and Ilabllltles are offset, wlth the net amounts presented In the flnanclal statements, when there Is a le8ally enforceable right to sei off the reco8nised amounts and there Is an Intentlon to settle on a net basls or to reallse the asset and settle the liability slmultaneously. 8t7sltAlntsntlolossets 8asic financial as5et5, 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 unle55 the arran8ernent constltuies a flnancln8 transaction, Whe the transactlon Is measured at the psent value of the luttsre recelpts discounied at a market rate ol interest. Financial assets classllied as recelvable wiihln one year are not amortlsed, slcllntsntlollltrbllltles 8a5ic financial liabilities. including creditors and bank loans are Initially recognised at transaction prlce unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortlsed. Debt instruments are 5ub5equently carried at amortised c05t. 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 operation5 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 liabilitie5. Trade creditor5 are cognised Initially at transaction prlce and subsequently measured at amortised c05t USln8 the effective interest method, Dereco9nition offinoncittlliobilities Financial liabilities are derecognised when the charity's contractual obligation5 expire or are discharged or cancelled. 1.12 Employee beneflts The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received, where material. 10-
THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Accounting pollcles Icontlnuedl 1.13 RetSrement benefits Payments to defSned contributSon retirement benefit schemes are charged as an expense as they fall due. 1.14 Tax The charlty is an exempt charlty within the meaning of schedule 3 of the Charltles Act 2011 and is considered to pass the tests set out in PèraBraph I Schedule 6 Finante Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Crlllcal accountlng est5mates and judgements In the application ol the charity's accounting polities, the trustees are required to make judgements, estimates and assumptions about the carrying amount of as5et5 and liabilities that are not readily apparent from other source5. 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 estlmates and underlylng assumptlons are revlewed on an ongolng basls. Revislons to accountln8 estlmates are retognised In the period In whlch the estimate Is revised where the revision affects only that period, or In the perlod of the revision and future period5 where the revi510n affects both current and future period5. Donatlons and le8acles Vnrestrlcted Unrestrlrted funds funds 2023 2022 Donatlons and 8lft5 1,871 6,120 11
THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Charltsble actlvltles Charltsble Income 2023 Charltsble Income 2022 Income from charitable activitie5 131,246 113,820 Performance rtlattd grdnts Calendars and literature Courses, events and raffles Affiliation fees Sub-committèes Core activltv 3,114 1,095 86,315 18,262 22,460 2,397 973 78,195 8,550 23,705 131,246 113,820 All Income Is classllied as unrestritted. Investments Unre5trlcted Unrestrlrted funds funds 2023 2022 Interest receivable 4,004 932 12-
THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Charltsble actlvltles Charltable Charltsble Expenditure Expenditure 2023 2022 Staff costs Direct COSt5 32,285 43,880 214 5,458 23,242 745 31,629 38,917 207 2,896 7,639 8CM) Rates and water Light and heat Repairs and maintence Sub-committee travel Sundry expendSture 1,470 577 107,294 82,66S sha ol support costs (see note 71 Share o18overnance costs (see note 71 24,882 11,645 19,421 9,423 143,821 111,509 Support ¢05ts Support costs Ggvernonce ¢0StS 2023 Support Costs Governance costs 2022 Insurance 4,167 4,167 6,118 6,118 Printin8, POSta8e and stationery Computer Softwa and website Telephone Bank charges 8,961 8,961 7,380 7,380 9,417 1,280 1.057 9,417 1,280 1,057 4,762 321 840 4,762 321 840 Accountancy Le8al and professlonal C.F. committee and meetin8s lincl. travell WIA Travel 3.093 898 3,093 898 3,033 1,171 3,033 1,171 4,099 3,555 4,099 3,555 3,563 1,656 3,563 1,656 24,882 11.645 36,527 19.421 9.423 28,844 Analysed between 24.882 11.645 36.527 19.421 9,423 28,844 Governance costs includes payments to the auditors of £nil12022- £nill for audit fees. 13-
THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Trustees None of the trustees lor any persons connected wlth them) recelved any remuneratlon or beneflts from the charlty durin8 the year. Employee5 Number of employees The average monthly number of employees during the year was.. 2013 Number Z022 Number Administrative staff Employment costs 2023 1022 Wages and salarles Other penslon costs 32,103 182 31,214 41S 32.28S 31,629 There were no emplgyee5 whgse annual remuneration was £60,000 or more. 10 Net 8alns1110ssesl on Investments Unrèstrlrted Unrtstrlrttd funds lunds 2023 2022 Revaluation of investments 8,669 137,6081 11 Taxatlon The Charity is exempt frorn tax on incorne and Bain5 falling within Section 505 of the Taxe5 Act 1988 or section 252 01 the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to it5 charitable object5. 14-
THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 12 Tanglble fixed assets Freehold lind and bulldln85 Flxtures Jnd flttln£5 Total Cost At l October 2022 25.549 21,049 46,598 At 30 Septernber 2023 25.549 21.049 46,598 Depreclatlon and Impalrment Al l October 2022 21,049 21,049 At 30 September 2023 21.049 21,049 Carrylng amount At 30 September 2023 25,549 25,549 At 30 September 2022 25.549 25,549 13 Flxed asset Investments L15ted Investments Cost or valuatlon At l October 2022 Valuation changes 164,672 8,668 At 30 September 2023 173,340 Carrylng amount At 30 September 2023 173,340 At 30 September 2022 164,672 Fixed asset investments ralUed The historical cost of Investments Ss £162,08912022 - E162,0891. All Investments are valued at the traded market value at the balance Sheet date. Stock5 2023 2022 Finished goods and goods for resale 2,475 2,952 15-
THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Is Debtors 2023 2022 Amounts falllng due wlthln onè year: Prepayments and accrued income 10,276 6,307 16 Cr•dltors'. amounts fallln8 due wlthln one year 2023 2022 Other credltors Accrtsals and deferred Ineome 13.039 9,145 13,811 2,9QMJ 22,184 16,711 17 Related party transactlons Rernunerat5on of key management personnel The charSties day io day operatlons are managed dSrecily by the board of trustees wSth wages and salarles pald to staff employèd In an administrative capacity onlv. Tr¥n5artlon5 with relatsd partles Durln8 the year the eharlty entered into the followln8 transactions wlth related parties.. DurSn8 the year the company reSmbursed trustees, expenses amountlng to EIO.66612022 £7,365), The number of trusteès who received èxpenses during the yèar was 1312022 - 141. The expenses were for travel and purchases made on behalf of the company durin8 the year. 16-