Company registration no: 3004105 Charity registration no: 1049106 Northumberland Federation of Women's Institutes (a company limited by guarantee) Annual report and rinancial statements for the year ended 31 March 2025 theWI INSPIRING WOMEN
Northumberland Feder2tion of Women's Institutes (a company limited by guarantee) Annual report and finaD¢ial statements for the year ended 31 March 2025 Contents Page Legal and administrative infomiation Report of the Board of Trust¢¢s Independent examiner's report Statement of financial activities Balance sheet Notes forniing part of the financial statements 8- 11
Northumberland Federation of Women's Institutes (a company limited by guarantee) Legal and administrative information Board of Trustees: M Bengtson K Coleman S Jarvis B Kilkenny P Lamb J McLean M Read S Robinson K Suleman D Walton J Woodsford D Ward (resigned March 2025) Vice Chair/Treasurer Chairman (resigned March 2025) Registered office: Cresswell House 11112 Brenkley Way Blezard Business Park Seaton Burn Newcastle upon Tyne NE13 6DS Company registration no: 3004105 Charity registration no: 1049106 Bankers: Lloyds Bank plc Grey Street Newcastle upon Tyne Independent examiner: John Oswald BA FCA Stephenson Coates Audit Limited West 2, Asama Court Newcastle Business Park Newcastle upon Tyne NE4 7YD Page I
Northumberland Federation of Women's Institutes (a company limited by guarantee) Report of the Board of Trustees for the year ended 31 March 2025 The clected members of the Board of Trustees, who are also directors of the charity for the purposes of the Companies ACL present their report and the financial statements for the year ended 31 March 2025. The Board has adopted the provisions of the Charities SORP (FRS102) - Statement of Recommended Practice, Accounting and Reporting by Charities, in preparing the annual report and financial ststements of the charity. Objects of the charity? principal activities and organisation of our work The Northumberland Federation of Women's Institutes is a company limited by guarantee and as such is bound by Company Law. The elected members of the Board of Trustees constitute the Board of Directors. They are jointly and severally responsible for the financial wellbeing and general and proper running of the Federation. They also undertake to oversee the general rcpairs and upkeep of Cresswell House. Thc Honorary Treasurer acts as the Company Secretary" the Chairman is the F¢dcration Chairnian. The Northuinberland Fcdcration of Women's Institutes is a rcgistcred charity and is answerable to the Charity Commission. The Federation is affiliated to the National Federation of Women's Institutes. The principal activity of the charity is fvrthcring the purpose of the Women's Institute movement in Northumberland and elsewhere. Elections for the Board of Trustees nomially take place bi-annually. The Board of Trustees were rc-elected in 2024. During the year, the Board of Trustecs met on 12 occasions, with an average att¢ndance of l O. There are four committees. They are, Membership Support (which is a-typical as it consists of all the W.I. Advisors. these are appointed annually by the National Federation on the recommendation of the Board of Trustees. Board Members who are W.I. Advisors sit on this committee as full serving members regardless of their other duties), Arts and Leisure, Crafts, Public Affairs and Education. All committ¢¢ meetings are held in Cresswell House on Tuesdays. Two Board members are appoint¢d to each committee. The Chairnian of each committee must be a Board member. As a result, the Board of Trustees members are involved in all aspects of the Federation's activities. Thei¢ are four Officers elected by the Board members, Chairman, Treasurer and Vice Chairnian. As with all posts within the W.l. these appointments are for the current year only. The Officers sit ex officio on all the Federation committees. The Chairnian and Treasurer are Members of National Council. The National Council Meeting held in October was again done via Zoom and attended by the Federation Chainnan. Several other National led Zoom meetings dealing with subscriptions, membership and engagement were also attended throughout the period. Page 2
Northuxnberland Federation of Women's Institutes (a company limited by guarantee) Report of the Board of Trustees (conlinued) for the year ended 31 March 2025 Objects of the charityy principal activities and organisation of our work (continued) We would like to thank those Members who represented the Federation on outside bodies. On behalf of all the Board Mcmbers, the Committee Members and all the Northumberland W.1. Members, we wish to thank Mr Dave Read for his hard work in the ongoing maintenance and general upkeep of Cresswell House on a voluntary basis. We would like to thank fellow Board Members and all the Committee Members for all their hard work and the time they have given to the Federation. Aetivities and achievements Detailed reports on the sub-committees, activities and achievements are given separately to this report. In setting our objectives and planning our activities, the Trustees have regard to the Charity Commission's public benefit guidance when exercising any powers or duties to which the guidance is relevant. Financial review The summary income and expenditure account is set out on page 6. There is a net deficit for the year of £5,127. This compares with a net surplus of £99 in the year to 31 March 2024. The deficit for the ycar is stated after net loss of £144 on investments (2024: net gaiii of £1,749)- The Board continue to work towards achi¢ving a balance in the charity's income and exp¢nditure. Investment policy Th¢ Board of Trustees has considered the most appropriate policy for investing cash resources and has decided that a mix of managed funds, interest bearing bank, special investment and national savings accounts meet its requirements of a reasonable rate of return, without significant capitsl risk, and with predictable accessibility to th¢ funds. The Board review this policy on a regular basis. Reserves The Board of Trustees considcrs it appropriate to hold frce reserves of between £50,000 and £IOO,000 to provide adequate working capital for the charitable activities. and to provide a buffer against changes in circumstances. At 31 March 2025 the frec reserves of the charitabl¢ company were £136,593, a decrease in the year of £5,438. Risk management The Board of Trustees actively review the major risks which the charitable company faces on a regular basis and believe that maintaining free reserves, combined with quarterly review of the controls over financial systems, will provid¢ sufficient resources in the event of adverse conditions. The Board has examined other operational and business risks faced by the charitable company and confirm that it has established systems to mitigate the significant risks, particularly through insurance cover. Page 3
Northumberland Federation of Women's Institutes (a company limited by guarantee) Report of the Board of Trustees (conlinued) for the year ended 31 March 2025 Directors The members forniing the Board of Trustees during the year and up to the date of this report are set out on page Board of Trustee's responsibilities in relation to the financial statements. The Board is responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations. Company law requires the Board to prepare financial statements for each financial year. Under that law the Board has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Board must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statements, the Board are required to.. select suitable accounting policies and apply them Consistently; make judgements and estimates that are r¢asonable and prudent. prepare the financial statements on the going concern basis, unlcss it is inappropriate to presume that the charitable company will continue in business. The Board is responsible for keeping ad¢quate accounting records that are sufficient to show and cxplain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable the Board to ensur¢ that the financial statemcnts comply with th¢ Companies Act 2006. The Board is also responsible for safeguarding the assets of the charitable company and hence for taking rcasonable steps for the prevention and detection of fraud and other irregularities. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small entitles Tegime. Approval rh This report was approved by the Board of Trustees on 12 August 2025 and is signed on its behalf by.. M Read Chairman Page 4
Northumberland Federation of Women's Institutes (a company limited by guarantee) Independent examiner's report on the unaudited financial statements to the directors of Northumberland Federation of Women's Institutes I rcport to the charity trustees on my examination of the accounts of the charitable company for the year cnded 31 March 2025, which are set out on pages 6 to 12. Responsibililies and basis of report As the charity's trustees of the company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Cotnpanies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the company 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 your charity's accounts as carried out under section 145 of the Charities Act 2011 (the '2011 Act,). In carying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independeftl ayaminer's report I confinn that l am qualified to undertake the examination because I am a member of the Institut¢ of Chartered Accountants in England and Wales. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving m¢ cause to believe.. l ) accounting records were not kept in respect of the company as required by section 3 86 of the 2006 Act. or 2) the accounts do not accord with those accounting records. or 3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requircmcnt that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination" or 4) the accounts have not becn 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 th¢ UK and Republic of Ireland (FRS 102)]. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. John Oswald BA FCA Stephenson Coates Audit Limited Chartered accountants West 2, Asama Court Newcastle Business Park Newcastle upon Tyne NE4 7YD 12" August 2025 Page 5
Northumberland Federation of Women'5 Institutes (a company limited by guarantee) Statement of financial activities for the year ended 31 March 2025 Summary income and expenditure account Unrestricted funds 2025 2024 Income from: Donations Charitable activities (note 3) Other trading activities (note 4) Investments (note 5) Miscellaneous income 4,075 48,023 16,748 4,289 267 4,009 42,506 18,844 4,486 17 Total 73,402 69,862 Expenditure on: Raising funds Trading accounts expenditure Fund raising cxp¢nditui¢ 3,307 6,877 5,009 5,166 10,184 10,175 Charitable activities (note 6) 68,201 61,337 Total 78,385 71,512 Net (losses)/gains on investments {144) 1,749 Net (expenditure)lincome- net movement in funds (5,127) 99 Total funds brought fonvard 445,008 444,909 Total funds carried forward 439.881 445,008 The notes on pages 8 to l2 form part of these financial statements. Page 6
Northumberland Federation of Women's Institutes (a company limited by guarantee) Balance sheet at 31 Illarcb 2025 Notes 2025 2024 Fixed assets Tangible assets Investments 303,288 302,977 Total fixed assets 398,584 398,417 Current assets Debtors Cash at bank and in hand Special deposit account 10 756 64,202 41 12,808 87,898 41 Total current assets 64,999 100,747 Creditors Amounts due within one year (23,702) (54,156) Net current assets Total net assets 439,881 445,008 Funds - unrestricted 439,881 445,008 The notes on pages 8 to 12 fomi part of these financial statements. In approving these financial statements as directors of the charitable company we hereby confIrm: (a) that for the year stated above the charitable company was entitled to the exemption conferred by Section 477 of th¢ Companies Act 2006; (b) that no notice has been deposited at the regist¢red office of the charitable company pursuant to Section 476 requesting that an audit be Conducted for the year ended 31 March 2025 and (c) that we acknowledge our responsibilities for.. ensuring that the charitable company keeps accounting records which comply with Section 386. and preparing financial statements which give a true and fair view of the state of affairs of the charitable ompany as at the end of the financial period and of its profit or loss for the period then ended in accordance with the requirements of Sections 394 and 395 and which othenvise comply with the provisions of the Companies Act relating to financial statements, so far as applicable to the charitable company. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small entities regime of Financial Reporting Standard l 02. These financial statements were approved by the Board on 12 August 2025 and are signed on their behalf by: M. Read Chairman B. Kilkenny Honorary Treas er Company registration number: 3004105 Page 7
Northumberland Federation of Women's Institutes (a company limited by guarantee) Notes to the financial statements for the year ended 31 March 2025 Accounting policies l.l Basis of preparation of financial statements The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets. The financial statements have been prepared in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements are prepared tn Sterling (£), which is the fimctional cUencY of the entity, The directors of the charitable company are satisfied that there are no material uncertainties concerning the charitable company's ability to continue as a (roing concern for a period of at least 12 months from the date of approval of the financial statetnents. Accordingly, the fmancial statements continue to be prepared on the going concem basis. The charitable company constitutes a public benefit entity as defined by FRS 102 and is an incorporated charity (number 1049 L06). The registered office is at Cresswell House, 11112 Brenkley Way, Blezard Business Park, Seaton Burn, Newcastle upon Tyne. 1.2 Income Income is accounted for on an accruals basis, and is shown gross, with associated costs included in costs of raising funds and charitable activities. Investment incotne is accounted for when receivable. 1.3 Expenditur¢ Expenditure is included in the Statement of Ftnancial Activities on an accruals basis. Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charitable company to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure which is directly attributable to specific activities has been included in these cost categories. Where costs are attributable to more than one activity, they have been apportioned across the cost categori¢s on a basis consistent with the use of these resources. 1.4 Operating leases Rentals applicable to operating leases are charged to the Statement of Financial Activities on a straight-line basis over the period they are incurred. 1.5 Tangible fixed assets Depreciation is provided on equipment and ftureS partly at a rate of 200/0 on a reducing balance basis and partly at IOO/o on a straight_line basis. Depreciation has not been chorged on the charitable company's freehold property. The propety is subject to regular maintenance. and in the opinion of the Board of Trustees any depreciation would be immaterial. The carrying value of the property, and other fixed assets. is reviewed annually by the Trustees foT impainnent. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared against its carrying amount. Where the estimated recoverable amount is lower, an impairn]ent loss is recognised imrnediately in the Staternent of Financial Affairs. 1.6 Investments Investrnents are a form of basic fanCIal instrument and are initially recognised at their cost and subsequently rneasured at fair value as at the balance sheet date usino the closing quoted market price. The Statement of Financial Activities includes the unrealised gains and losses arisin(T on revaluation of investments held at the year-end and the realised gains and losses on disp05als throughout the year. Voluntary assistance Time is expended on the charity's activities and governance which is donated free of charge. It is impractical to quantify the value of the titne given. accordingly, in accordance with FRS102, it is neither recorded as donated income nor as an expense in the fanCIal statements. Page 8
Northumberland Federation of Women's Institutes (a company limited by guarantee) Notes to the financial statements for the year ended 31 March 2025 (continued) Turnover All income was derived within the United Kingdom. Income from eharitable activities 2025 2024 Federation affiliation fees Other affiliation fees Committees, incom¢ 32,610 1,957 30,845 2,850 48,023 42,506 Income from other trading activities Trading accounts income Fund raising income 5,705 6,816 16,748 18,844 Income from investments Rent received liiterest received 650 880 4,289 4,486 CharAtable activities Committees, ¢xp¢nditure WI support costs (note 7) House expenses Membership support Committee cxpenses Accountant's fees Depreciation Other 5,058 30,578 27,005 (1.512) 3,930 2,404 738 4,223 38.621 14,452 (581) 1,569 1,805 921 327 68,201 61,337 Page 9
Northumber12nd Federation of Women's Institutes (a company limited by guarantee) Notes to the financial statements for the year ended 31 March 2025 (conlinued) Staff costs No remuneration was paid to members of the Board of Trustees (who are considered to be key management personnel for the purposes of FRS102) during the year. Travel expenses amounting to £1,451 (2024: £668) were reimbursed to them. Staff costs were as follows: 2025 2024 Wages and salaries Social security costs Pension costs 15,538 25,560 819 16,357 26,841 The average number of employees (excluding directors) was l (2024: 1). Tangible fixed assets Freehold property Equipn)ent and rjxtures Total Cost At l April 2024 Additions Disposals 299,289 39,879 1,049 339,168 1,049 At 31 March 2025 299.289 40,928 340,217 Depreciation At l April 2024 Charg¢ for the year Disposals 36,191 738 36,191 738 At 31 March 2025 36,929 36,929 Net book values At 31 March 2025 299,289 3,999 303,288 At 3 l March 2024 299,289 3,688 302,977 All tangible fixed assets are used for charitable purposes. Page 10
Northumberland Federation of Women's Institutes (a company limited by guarantee) Notes to the financial statements for the year ended 31 March 2025 (continued) Investments 2025 2024 At valuation: market value at 31 March Charities Investment Fund investments At cost.. Bursaries - national savings accounts National Savings Income Bonds COIF Charities deposit fund Scottish Widows 20,930 21,074 81 34,000 40,275 10 81 34,000 40,275 10 95,296 95,440 10. Debtors Due within one year.. Trade debtors Prepayments and accrued income 37 719 12,089 719 756 12,808 11. Creditors: amounts falling due within one year Accruals Tax and social security Deferred income Other creditors 3,063 3,071 910 42,736 12,021 23,702 54,156 Pagcll