Charlt¥ reclrtrailon number 1044383 Company re8lstratlon number 030137301En8land and Wales) THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES LEGAL AND ADMINISTRATIVE INFORMATION Truste•s Ms A Banks el Asmar Mr5 A Beckett - Hon Treasurer Mrs S Bentley Mr5 N Dent Mrs J F HardSng Mrs P A Jones Mrs BJ Langham MryVLee Ms S J Leicester Mrs W A Morris (Appointed 26 March 20241 Mrs S A PsCott- Chalr MrsEAPye Miss H Tyrrell (Appointed 15 October 20241 Charlty number 1044383 COMry number 03013730 Re8lstered offlce 11 Whlte Friar5 Chester CHI INZ Independent eKamlner Mitchell Charlesworth 24 Nicholas Street Chester CHI 2AU
THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES CONTENTS P4ge TfUStees' report Independent examiner's report Statemenr of financial activSiies Balance sheel Note5 to the financial statement5 8.18
THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2024 The trustees present thelr annual report and financlal ststements for the year ended 30 September 2024. The flnancial statements have been prepared In accordance wlih the accounting policles set out In note I to the Ilnanclal statements and comply with the charity's governing document, the Companles Art 26 and "Accountin8 and Reportln8 by Charitie5.' Statement of Recommended Practice applicable to tharities preparln8 their 3ccount5 in accordante with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20191" Objertlve5 and actlvltSes Objertlvts of the Charlty The Women's Instltute or8anSsatlon Is based on the Sdeals of fellowshlp. truth. tolerance and lusilce, and Its maln purposes are: to advance the education of women for the public benefit in all areas, includlng local, national and InternatSonal Issues of polltical and social importance. muslc, drama and other cultural sublects,. all branches of a8f Iculture, crafts, home economics, science, health and social welfare,. to promote sustainable development for the public benefit by educating people in the preseryation. conservation and protection of the environment and the prudent use of natural resources. and by promotin8 Sustainable means of achieving economic 8rovrth and re8eneraiion; to advance health for ihe publlc benefit: and to advance cltlzenship for the publlc benefit by promotion ol civic responsibility and volunteerin8. The objectlves ol the charity. which remain unchanged from the previous accounting period, may be summarised as follows.. to further the purpose5 of the Wl or8anisatSon in Cheshire Iboth East and Westl and the adjolnln8 areas of Wirral, Halton, Warrin8ton, part5 of Salford. south Manchester, Tameslde, Stockport, and elsewhere. Publlc Beneflt The trustees have had regard to the Charity Commission 8uid3nce 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 followin8 Statements of Activities. and Achievements and Pertormance. The overall membership has remained quite buoyant despite 3 Wl's havin8 to suspend but fortunately 2 new Wl's have formed. resultin8 In servlces conilnulng to be avallable io women and communltles wlihln CFWI'S area of operation. Artmtles The year started In style with the Autumn Council Meetlng at The Story House, Chester, whose staff made us feel very welcome. Member5 and visitors enjoyed 3 excellent speakers with the chance to sample, at lunchtime and after the event, what the City has to offer. With Christmas approachin8 11 White Friars was once a8ain decorated 8ivin8 the members the opportunity to meet the Truslees, have a conducted tour of The House, soak up the atmosphere, sip a 8lass of mulled wine, drink a cup of coffee, nibble on a mince pie and not to forget a bacon or ¥e88ie bap. The Annual Council Meeting In March 2024 took è dlfferent lormat when all of oui Presldents were Invited to Hartford Golf Club to be delegates for their Wl's. castlng the votes during the buslness part of the agenda. With the latest updates on procedures, future events being announced, a fun tabletop quiz pondered over and a chance to catch up wlth tlps from other Presidents, luncheon was served. For the afterncn speaker we Vre very fortunate to listen to Ann Jones, NFWI'S Chair, a5 she was soon due to reti fmm the position. She inspid and praised all present for the work that they do within theWI.
THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 May was the month when Members went "Wild in Fylde" at our very first Wl Camp. The weather was very klnd and the Leisure ft>r Pleasure sub-committee had lined up an action packed weekend for all to enjoy and take part in. Exhausted and packed up, some were heard to say hen is the next one? Can I put my name on the list?1• The sun still managed to shine for the Royal Cheshire County Show. Orlginal plan5 had to be tweaked. at the very last minute. when we were all(xated a marquee a lot lar8er than expected, but in true Wl fashlon we coped, with more room for seatin8 in the relreshment area and for member's exhSbSts. The displays and workmanship always Impress the visitSng Judges. The schedule had been reduced $0 we took the opportunity to hold an Art Exhibition to celebrate Wl Day In September. Held In Wl House we called on the talents of our artists to depict 'Cheshire' and It made a wonderful array of thought Pfovoking plctures, one of whlch was awarded 'The Chalr's Choice,. An event we hope to repeat. Throughout the year all of the Sub-commlttees were very busy organlslng lots of events, IncludSng cheese and wlne tasting, archery, golf, darts, craft work5hop5, bowls. green dot days. monopoly, ghost tours, lig5aw race5, etc. etc.... The Cheshire New5 Team, who not only produce the newsletter, held a Literary Lunch at yet another venue, Nunsmere Hall After the meal the speaker entertained u5 With true to life experiences which influenced her novels. The Public Affairs team keep us up to dale with the larest news on mandated resolutions and those in the plpeline, and the Archives team have been allocated more srora8e capacity as work Is always on8oln8. We must ihank all Involved for all their hard work. Improvements are stlll ongoing at Wl House followin8 on from Surveys and Rlsk Assessments undertaken. Making sure that all work is completed by qualified bulldersltechnicians who can then issue the relevant certificates Is quile an undertakSng whilst making sure that we provide a safe workin8 environment for our staff and visitors. Advice if required and quotations are always sought. Achle¥ement5 •nd performance Giving member5 value for money is high on our agenda here in Cheshire, $0 when setting a programme of iraining we aim to provide it, whenever possible, free of char8e. Not only were workshops offered to new Treasurers in post, we or8anized several venues across the Federation and invited all Secret3rie5 to come along. Hosted by our dedicated team of Wl Advisers, to whom we need lo expre55 our thanks, these events proved very popular with a chance lo explore the expeclatlons of the role, how to access the lètest informailon, and to dlscuss any problems or concerns. We are now lortunate to have our own quallfled Tralner for the role of Flnanclal Examiner, so ongoing tralninl means that we can expand Our conscientlous team of IFE'S, supporting Treasurers ihrou8hout the year and at the financlal year end. In September 2024 we welcomed a new member of staff tsking on the role of Admln Asslstant. She joins our Federation Secretary and Accounts Administrator, who together make an excellent team. They need to be thanked for their dedication and ability to run a very busy office whilst copin8 With the ch3llen8es of new procedures, policies. le81slalion. techno108V and communicalion, to name but a few. They are always there to support all our Wl's. Flnally. thènks must go to all the Offlcers, Commlttees and Members who, as volunteers, support thelr Wl's and communitles throughout the Federation. always 8•ving their time wlth frlendshlp in mlnd. The elements lor our medlum to lon8 terni strategles are: to continue to give support, encouragement and guidance to all 178 Wls in the Cheshlre Federatlon,. to offer a wlde ran8e of trainin8. educatlonal and cultural opportunities. promote lifelon8 learnln8. traditlonal sk1115, healthier, more sustainable Ilfestyles and personal development- to InCaSe the Wl's Influence on government, opinlon formers and the general publlc by raisln8 awareness of 5i8nificant locèl, national and international issues, and to maintain the reputation of the organisation as a respected voice of reason. integrity and intelligence.
THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 The success of these strategles Is measured bv: Inviting, receiving and assessing direct feedback from the members; maintaining contart with NFWI, neighborin8 federations and other charities. and with local and re8ional 8overnment' and by monitorin8 activitie5 or8anised by other 5eciions of the Wl movement. FlnaKlal revlew Revlew ol Ihe Year The statement of financial activiiles dlscloses a Increase in the value of the charily's Investmenls of £20,239 {2023 £8,669) and net incomlng resources for the year amountln8 to a Increase of £23,59312023 - decrease £6,700). The trustees consider these results to be satisfactory, and would like to record their thanks to all Federatlon members, staff. sub- committees and pSentativeS for the dedlcation and hard work which has made this possible. Reserves Poll¢y CFWI aims to hold sufficient reserve funds to meet its probable commitments Should circumstances obli8e the trustee5 to 105e the charity. At the year end ihe charity held reserves of £680,40312023 - £636,571). Investments Pollcy The charltable company's investment portfolio comprlses bank, buildlng soclety and NS & I deposlts, and unlts In Investment and unlt trusts. Decislons concerning disposals of stocks and further Investments are made by the Board of Trustees, based on advice from an independent Investment broker. Rlsk Pollcv The Board has considered the major risks to which the charity may be exposed. ID the opinion of the trustee5. the combination of cash reserves and review systems should allow any risks in the day-to-day operations ol CFWI to be mitigaled to an accepiable level. Plans for Future PerSods Fulure obll8atlons In the oplnlon of the trustees there are sufficlent funds avallable to meet all future commitments. During the coming Year CFWI will again actively 5UPPOrt the national membership recruitment Inltiative, tontinuin8 to form new Wls Wlthin our Federation'5 area wherever there 15 local interest. The charity will Of8ani5e a full and varied pro8ramme of activities and trainin8 Opportunities for members. The short and lon8 term sirate8y of the Federation will be discussed and agreed, ensvrin8 that futu plans and aims are forward thinking for ihe ease of practice, whilst bein8 Snclusive of the needs and enjoyment ol the membership and ultimately flnancially viable.
THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Structure* governance and manalemert The charity is a company limited by 8uarantee. incorporated on the 24 January 1995 and is therefore 8overned by a Memorandum and Articles ol A550ciation. The re8isiered off ice is 11 White Friars. Chester, CHI INZ. The charity is also a charity reglstered wilh the charity commission. re8lSteied number 11)44383, The charity's day to day operaiions ère managed by ihe board of trustees and as such the charlty employs no staff It would define as key management. Rates of pay for employees are detem)ined followlns consideration of salaries offered in the local employment market. The trustees. who a also the dirertors for the purpose ol company law. and who served during the year were.. Ms A Banks el A5mar Mrs A Beckett - Hon Treasurer Mrs S Beniley Mrs N Dent Mrs S H Graham Mrs J F Harding Mrs P A Jones Mfs B J Langham Mrs V Lee Ms S J Leicester Mrs W A Morris Mrs S A Prescott- Chair MrsEAPye Mlss H Tyrrell (Resigned 26 March 20241 (Appoinied 26 March 20241 (Appolnted 15 October 20241 Trustees, who must each be a member of a Women's Instltute wlthln the Cheshire Federation of Wls, may be elected or co- opted to the board, followin8 nominatlon from the member5hlp. in accordance with CFWI'5 constitution and rule5. None ol the trustee5 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. Tranmrtlons wlth Olrectors Durlng the year the company reimbursed Dlrectors, expenses amountlng to £13.59012023 . £10,666110 13 trustees. Collectlon ol Afflllatlon Fees Affiliation fees recelved durlng the year by the charitsble company included £102,382, collected as a8ent for, and pald to, the National Federation of Women'5 Institutes, The ustees re rtwa pproved by the Board of Trustees. Mrs 5 A Prexott- Chalr Trustee 1710112025 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 tmstees on my emamlnation of the financlal statements of The Cheshlre Federation Of Women's Instltutes (the charity) for the year ended 30 September 2024. ResponslbSlltle$ and basls of report As the irustees of the charlty land also Its dlreciors for the purposes of company lawl you are responsible for the preparation ol the flnancial slatemenis in accordance wilh the requiiemenls of the Companies Aci 2006 {the 2C(16 Act). Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 21X)6 Acr and are eligible for independent examination. I report in respect of my examlnation of the charity's financlal stalements carried out under section 145 of the Charilie5 Act 2011 Ithe 2011 Act). In carrying Out my examinatlon I have followed all the appllcable Directions 8iven by the Charity Commission under section 14515llbl of the 2011 Acl. Independent emamlnei'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: accounting records were not kept in respeci of the charlry as requlred by section 386 of the 2CKI6 Act; or the flnancial slatements do nol accord with those records; or the flnancial slatements do not comply with the accountin8 requirements of section 396 of the 2C#)6 Act other than any requirement that the accounts glve a true and fair view which Is not a matter considered as part of an Independent examinatlon,. or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Praciice for accounting and reporting by charities applicable to charities preparing their accounts n accordance wirh the Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other matlers In conneciion wlth the examlnation to which attentlon should be drawn In this report In order to enable a proper understandin8 of the financial statements to be reached. Mr Robert Hall, FCA Mltchell Charlesworth 24 Nicholas Street Chester CHI 2AU Dated: 17 January 2025
THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2024 Unreslrlded funds 2024 Unrestrlcted funds 2023 Notes Income from: Donations and legacies Charltable activitles Investment5 6,809 148,324 13,090 1.871 131,246 4,004 Total Income 168,223 137,121 Expendlture on: Charltable attivltles 144,630 143,821 Totsl expendlture 144,630 143.821 Net galnslllossesl on Investmenis io 20,239 8.669 Net In¢ome and movement In funds 43,832 1.969 Reconclllatlon of lunds: Fund balances at l October 2023 636,571 634.602 Fund balances at 30 September 2024 680,403 636,571 The statement of flnancial actlvitles Includes all 8alns and 10$5es reco8nlsed In the year. All Income and expendlture derlve from coniinuin8 actlvities.
THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES BALANCE SHEET AS AT30 SEPTEMBER 2024 2024 2023 Notes Flxed assets Tanglble assets Investments 12 13 25,549 194,148 25,549 173.340 219,697 198,889 Current assets Stocks Debtors Cash at bonk and in hand 14 15 2,507 12,720 470,294 2,47S 10,276 447.115 485,521 124,8151 459,866 122,1841 Credltors: amounts lalllnl due wlthln one ye•r 16 N•t curr•nt assets 460,706 437,682 Total a55ets less curreni Ilabllltles 680,403 636.571 The funds of the charlty Unrestricted fund5 680,403 636,571 680,403 636,571 The company Is eniitled to the exemptlon from the audlt quIreMent contained In sectlon 477 of the Companles Act 2CM)6. for the year ended 30 September 2024. The directors acknowledge their responsibilities for complying with the requlrements of the Companies Act 2006 with respect to accountlng records and the preparatlon of flnancial statements, The members have not required the company to obtain an audlt of its flnancial statements for the year In question In accordance with seclion 476. These flnancial statemenis have been prepared in accordance wlth the provlslons appllcable to companle5 subleci to the small companles regirne. 1610112025 The financial statements were approved by the trustees on ......................... Mrs A Beckett - Hon Treasurer Trustee Company registration number 03013730 (England and Wales)
THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accountln8 pollcles Charlty InformatSon The Cheshire Federatlon Of Women's Instiiutes Is a private company limited by guarantee Incorporated in En8land and Wales. The re81stered office Is 11 While FrSars, Chester, CHI INZ, The nature of the charlty's operatSons and prSnclpal activities are desciibed in the Trustees. Report on pa8e l. 1.1 Accountln8 ¢onventk•n The flnancial statements have been prepared in accordance with the charlty's Memorandum and Articles, the Companies Act 2¢)06 and "Accounting and Reporting by Charities: Statemeni ol Recommended Practice appllcable to charitles preparing their accounts in accordance with the Financial Reporting St3ndard applicable in the UK and Repvblic of Ireland (FR5 1021 leffectbve l January 2019)" The charily is a Public Benefit Entity as deflned by FRS 102. The charity has iaken advantage of the provislons In the SORP for charltles applying FRS 102 Update Bulletln I not to prepare a Statement ot Cash Flows. The financial statements are prepared Sn sterlln8. which Is the lunctlonal currency of the charity. Monetary amounts In these financial statements are rounded to the nearest £. The financial statements have been prepared undef the historical cost convention, modified to include certain flnancial instruments at fair value. The principal accountin8 policies adopted are set out below. 1.2 Golng foncern At the time of approving the financial statements, the trustees have a reasonable empectation that the charlty has adequate resources to continue in operational existence for the foreseeable future. Thu5 the trustee5 continue to adopt the 80in8 concern basis of accountin8 in prepar in8 ihe financial slatements. l.J Charltable funds Unrestricted funds are avoSlable for use at the dlscretion of the trustees In furtherance of thelr charltable oblertlves. 1.4 Income Income is recognised when the Charity Ss legally entitled to it after any performance conditions have been met. the amounts can be measured reliably. and it Is probable that income wlll be received. Cash donatlons are recognised on recelpt. Other donations are reco8nlsed once the charlty has been notified of the donation. unle55 performance conditlon5 require deferral of ihe amount. Income tax recoverable in relatlon to donations received under Gift Aid or deeds of covenant is recognised at the tirne of the donatlon. Legacies are recognised on receSpt Of Otherwlse If the charlty has been notified of an impending distrlbution. the amount Is known. and recelpt is expected. If the amount Is not known, the legacy is ireated as è contlngeni asset. Income from tradin8 activities includes income earned from fundraising events and tradin8 activities to raise funds for the charity. Income is received in exchange for good5 or services in order to raise fund5 and 15 recognised when entitlement h35 occurred. Inveslment income is earned through holdin8 assets for investment purposes such as shares and cash deposits. It includes dividends and interest. It is Included when ihe amount can be measured reliably. Interest income is recognised Using the effective interest method and dividend income Is recognlsed as the charity's rl8ht to receive payment Is established.
THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Actountlng policies Iconllnuedl 1.5 Expendltur• All expenditure is accounted for on an accrua15 basi5 and ha5 been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there 15 a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and ihe amount of the obligation can be measured reliably. It is categorised undef the followin8 headings.. Expenditure on charitable activitles Includes the costs Incurred the management of lis varlous projects and activilies,. and Other expenditure represents those Items not falllng Into the categories above. Irrecoverable VAT is charged as an expense against the actlvity for whlch empendlture arose. Support costs are those that asslst the work of the charlty bul do not dlrectly represent charitable actlvllies and Include offlce cosis, governance costs, administratSve payroll costs. They are Incurred dlrectly In suppon of expenditure on the objects of the charity and Include project management carried out at Heèdquariers. Where support COSts cannot be dlrectly attributed io particular headings they have been allocated to Cost of Taising funds and expenditure on charitable activities on a basis consistent with use of the resources. An analysis of these costs is included in note 7. 1.6 Tanglble filled •55ets Tangible fixed assets are initially measured at cost and subsequently measured at cosi or valualion, net of depreciation and any Impairment losses. Depreciation is reco8nised so as to write off the cost or valuation of assets less their residual values over their useful Ilves on the followin8 bases., Freehold land and buildlnes Flxtures and fittings Not deprecSated - see below IO% reduclng balance The gain or loss arising on the disposal of an asset is determined as the dlfference between the sale proceeds and the carrying value of the asset. and 15 recognised in the statement of financial activities. Freehold land and buildings relates to the charity's main premises at 11 White Friars. Chester, CHI INZ. The trustees have taken the decision not to depreciate the properly as the estimated useful economic life of the asset is so lon8 that depreciation would be immaterial to provide lor In the accounts. 1.7 Flxed a$set Inveslments Fixed asset investments are initially measured al transaction prlce excludln8 transaction costs, and are subsequently meaSUd at falr value at each reporting date, Chèn8es in falr value are recognlsed in net incomellexpenditurel for the year. Transaction costs are expensed as Sncvrred. IA Impalrment of flxed assets At each reporting end date, the charkiy revlews the carrylng amounts of Its tanglble assets to detemiine whether there is any indication that those assets have suffered an Impairment loss. If any such Indicatlon exists. the recoverable amount of the asset is estimated in order to detemiine the extent of the impairment Ios5 lif any).
THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Actountlng policies Iconllnuedl 1.9 Stocks Stocks are stated at the lower of cost and estimated selling prlce less costs to complete and sell. Cost comprises dlrect materials and, where applicable, direct labour c05t5 and those overhead5 that have been incurred in bringing the Stocks to their present location and condition. Items held for distribution at no or nominal consideration are me35ured the lower of replacement cost and c05t. Net realisable value is the estimated 5ellin8 price le55 all estimated costs of completion and costs to be incurred in marketing. selling and distribution. 1.10 Cash and cash equlvalents Cash and cash equivalents include cash Sn hand. deposits held at call with banks, other short-term liquld Investments with orl8inal maturitles of ihree monihs or less. and bank overdrafts. Bank overdrafts are shown wiihin borrowln8s In current Ilabiliiles. 1.11 Flnanclal Instruments The charlty has elected to apply the provlslons of Sectlon 11 'Baslc Financlal Instruments, and Section 12 '0ther Flnantlal Instruments Issues, of FRS 102 to all of Its flnancial Instruments. Financlal Instruments are reco8n15ed in the charity's balance sheet when the charity becomes party to the contrartual provisions of the instrument. Financlal assets and liabilitles are offset. wSth the net amounts presented in the financlal statements. when there is a legally enforceable right to set off the reco8nlsed amounts and there Is an Intention io setile on a net basls or io realSse the asset and settle the liability simultaneously. kgoslcllnonclol omets 8asic financlal assets, whlch Include debtors and cash and bank balances. are initlally measured ai transaciion prlce including transaction costs and are subsequently carried at amortlsed cost usln8 the effective interest method unless the arrangement constitules a Ilnanclng transaction. where the transaction is measured at the present value of the future receipls discounted at a markel rate of interest. Flnancial assets classified as receivable wbthin one year are not amortlsed. Bosl¢flnonclol Ilabllltles Basic flnancial liabilitie5, includln8 credltors and bank loans are initlally reco8nised at transaction price tsnless the arrangement constltutes a financlng transactlon, where the debt Instrument is measured al the present value of the futu payments dlscounted at a market rate of Interest. FSnanclal Ilabilitles classified as payable withln one year ore not amortlsed. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods Of seThices that have been acqulred in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due wiihin one year or less. If not, they are presented as non-current liablllties. Trade credStors are recognlsed Inltially at transactSon price and subsequently measured at amortlsed cost Using the effectlve interes1 method. Derecognltlon olfinanclol Ilobllltles Financial liabilities are dereco8nised when the charIt$ conirattual obli8ations expire or are d15charged or cancelled. 1.12 Employee beneffts The cost of any unused holiday entitlement 15 reco8nised in the period In which the employee'5 services are received, where materlal. 10-
THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Actountlng policies Iconllnuedl 1.13 Retlr•m•nt beneflts Payments to deflned contributlon retlrement beneflt schernes are char8ed as an expense as they fall due. 1.14 TaJT The charlty is an exempt charity within the meaning of Schedule 3 of the Charities Art 2011 and is consldered to pass the tests set out in Paragraph I Schedule 6 Finance Art 2010 and therefore it meets the definition of a charitable company for UK corporation tax purpose5. Crfllul a¢¢ountlni estlmates and Judymenl$ In the appllcation of the charity's accountlng pollcles, the trustees are required to make judgements. estlmates and assumptions about the carryin8 amount of assets and Ilablllties that are not readily apparent from other sources. The estimates and associated assumptions are based on hlstorlcal experience and other fartors that are considered to be relevant. Actual re5ulis may differ f rom these e5tlrnale5. The estimates and underlySn8 a$5umptions are reviewed on an on8oln8 basis. Revisions to accountin8 estimate5 are recognised in the period In which ihe estimate 15 r[sed where the revision affects only that period, or In the perlod of the revislon and future periods where the revSsion afferts both current and future perlods, Income from donatlons and lelacles Unrestrlct lunds Unrestrlcted funds 2023 1024 Donatlon5 and gifts 6,809 1,871 11
THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Charltable artfvltles Charltable Incon Charltable Income 2024 2023 Income from charitable activities 148,324 131,246 Performance related grants Calendars and liierature Courses, events and raffles Affllialion fees Sub-commlttees Core activity 3,974 1.096 88,466 25,846 28.942 3,114 1.095 86,315 18,262 22.460 148,324 131,246 All Income is classifled as unrestricted. Income from Investments Unrestrlrted funds 2024 Unrestrlrted funds 2023 Inte$t receivable 13,090 4,004 12-
THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Expendlture on charltable artlvltles Charliable exyndlture 2024 Charliable expendlture 2023 Dlrect costs Staff cosis Direct Costs Rates and water Ll8ht and heat Rapairs and maintence Sub-committee travel Sundry eypenses 33.563 60.778 522 3,896 6.309 245 32.285 43.880 214 5,458 23,242 745 1.470 2.838 108,151 107,294 Share of support ind governance c05ts15ee note 71 Support Governance 24,730 11.749 24,882 11.645 144,630 143,821 Analysls by lund Unrestrlcted funds 144,630 143,821 13-
THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Support costs support Costs Governance costs 2024 Support C05tS Govemance COSt5 2023 Insurance S,701 5,701 4,167 4,167 Printing. postsge and stationery Computer software and website Telephone Bank charges 9.457 9.457 8,961 8,961 5.578 1,433 2.561 5.578 1,433 2.561 9,417 1,280 1,057 9,417 1,280 1,057 Accountancv Legal and professlonal C.F. committee and meetings Ilncl. travell WIA Travel 3.270 851 3,270 851 3,093 898 3,093 898 4,340 3.288 4,099 3,555 4,099 3,555 3.288 24.730 11,749 36,479 24,882 11,645 36,527 Anèlysed beiween Charitable actlvitles 24.730 11,749 36,479 24,882 11,645 36,527 Governance costs includes payments to the auditors of £nil12023 £nill for audii fees. Trustees None of the trustees lor any persons connected wlth them) recelved any mneratIOn or beneflts from the charity durln8 the year. 14-
THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Employees Number of employees The avera8e monthly number of employees durin8 the year wa5: 2024 Number 2023 Number Administratlve staff Employment costs 2024 2023 Wages and salaries Other pension costs 33,417 146 32,103 182 33,563 32,285 There were no ernployee5 whose annual rernuneration wa5 £60.CKKI or more. 10 Galns and losses on Investments Unrestrlcted funds 2024 UnrestrSrted funds 2023 Galns/llossesl arlslng on: Revaluation of investments 20.239 8.669 11 Tamatlon The charity Is exempt from taxatlon on its activttles because all Its income Is applled for charitable purposes. 15-
THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 12 TaTh8lble fixed assets Fmhold land •nd bulloln Flrtur•s and ffttln Total At l October 2023 25.549 21.049 46.598 At 30 September 2024 25,549 21,049 46,598 Depreclatlon and Impalrment Al l October 2023 21,049 21,049 At 30 September 2024 21.049 21.049 C•rryln8 •mount AI 30 September 2024 25.549 25.549 At 30 September 2023 25,549 25,549 13 Flxed asset Inveslments Usted Inv•stm•nts C05t or valuatlon Ai l October 2023 Additlons Valuation change5 Disposals 173,340 63.097 22,072 164,3611 At 30 September 2024 194,148 C•rryln8 amount At 30 September 2024 194,148 AI 30 September 2023 173.340 Fixed a55et Investments revalued The historical cost of investments Is E172,82012023 . £162.089). All investments are valued at the traded market value at the balance sheet date. 14 Stocks 2024 2023 Finished 8oods and goods for resale 2,507 2,475 16-
THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 15 Debtors 2024 2023 Amounts lallln8 due wlthln one year: Prepayments and accrued income 12,720 10.276 16 Credltors: •mounts lalllnl due wlthln one year 2024 2023 other creditors Accruals and defef red income 13,209 11,606 13,039 9,145 24,81S 22,184 17 Retlrement beneflt schemes 2024 2023 Defined ¢ontrlbullon schemes Char8e to proflt or loss In respert of defined contribution schemes 146 182 The charlty operates a defined contrlbutlon penslon scheme for all qualifyin8 employees. The assets of ihe xheme are held separately Irom those of the chèrlty In an Independently èdmlnlstered fund, 18 Unrestrlrted funds The unreslricted funds of the charity comprise the unexpended balances of donations and grants whSch are not subject to speclfic conditions by donors and granlors as to how they may be used. These include deslgnated funds which have been set aslde out of unrestricted funds by the trustees lor specific purposes. At l Ortober 2023 Incomlni resourc¢s ResourcesGaSns and losses expended At30 September 2024 General funds 636.571 168,223 (144,6301 20,239 680,403 Prevk4us year: At l Ortober 2022 Ineomlnl resources ResoureesGaSns and losses expended At30 Seplember 2023 General fund5 634,602 137,121 {143,8211 8,669 636.571 17-
THE CHESHIRE FEDERATION OF WOMEN'S INSTITUTES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 19 Related party transactlons Remuner*lon of key management personnel The charitie5 day to day operations are managed directly by the board of trustees With wa8es and salaries paid to staff employed in an admln151rative capacity only. Transactlons wlth related partles During the year the charily eniered Into the followlna transartions wlth related pariles.. Durin8 the year ihe company relmbursed trustees, empenses amountln8 to £13.59J12023 - £10.6661. The number of trustees who received empenses durlng the year was 1312023 - 131. The expenses were for travel and purchases made on behalf of the company during the year. 18-