REGISTERED COMPANY NUMBER.. 03675104 (England and Wales) REGISTERED CHARITY NUMBER.. 1076283 Lancashire Federation of Women's Institutes Report of the Trustees and Unaudited Financial Statements For the year ended 30 November 2024 Mcmillan & Co LLP Chartered Accountants 28 Eaton Avenue Matrix Office Park Buckshaw Village Chorley Lancashire PR7 7NA
Lancashire Federation of Women's Institutes Contents of the Financial Statements for the year ended 30 November 2024 Page Report of the Trustees Independent Examiner's Report 10 Statement of Financial Activities 11 Balance Sheet 12 to 13 Notes to the Financial Statements 14 to 19
Lancashire Federation of Women's Institutes Report of the Trustees for the year ended 30 November 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 November 2024. The trustees have adopted the provisions of 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 1021 (effective 1 January 2019). OBJECTIVES AND ACTIVITIES Objects of the Wl The main purposes of the Women's Institute organisation are to enable women who are interested in issues associated with rural and urban life {including the arts, crafts and sciences) to; improve and develop conditions of rural and urban life, to advance their education in citizenship, to question in public both national and international issues, to promote learning and skills in music, drama, other cultural subjects, home economics and handicrafts, to promote learning and skills In all branches of agriculture, health and social welfare. It seeks to give women the opportunity of working together through the Wl organisation and of putting into practice those ideals for which it stands. The aims of Lancashire Federation of Women's Institutes (LFWII are to open new Wls and recruit new members whilst at the same time providing existing members with a range of educational and recreational activities together with learning opportunities. Through the work of the Wl Advisers (who are LFWI members and who have received training from NFWI) it assists members in the sound running of their W. The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives. Page 1
Lancashire Federation of Women's Institutes Report of the Trustees for the year ended 30 November 2024 OBJECTIVES AND ACTIVITIES Significant and Charitable activities The Trustees agree that LFVVI has again achieved significant goals and moved forward for the benefit of its members. The LFWI have focused on delivering the aims and objectives to its membership and continues to strive to both retain and attract new members to the organisation. The Trustees are currently introducing a new system to further improve the communication with Wls in Cluster groups around the Federation. This work is ongoing and will include free workshops to train new and existing officers. We will offer some more help for Wls to run efficiently and effectively as well as bringing Wls together socially. The rationale behind the cluster groups is due to the wide geographical area of the Federation and its diverse membership. The Annual Council meeting was held in April at the Lowther Pavilion Theatre in Lytham. It was attended by 450 members and invited guests. Alongside the main business meeting the members learnt about the work of the Lord Lieutenant of Lancashire. Mrs Amanda Parker JP of Browsholme Hall is the King's representative at official engagements in our County. Several members also spoke about their life experiences. For the first time, LFWI held a Makers Market within the venue, where members could display and sell their homemade crafted items. The meeting closed with an enjoyable performance by the musical duo Pink Vintage. The NFWI Annual meeting was held at The Royal Albert Hall in London in June. Attendance for both delegates and observers was offered in person and virtually. LFWI provided 30 in-person delegates and 8 virtual delegates, and many observers tuned in virtually. The theme of the meeting was "No more violence against women" which is an ongoing campaign by NFWI. The speakers were Nazir Afzal OBE. Melanie Brown of The Spice Girls who was interviewed by Victoria Derbyshire, and Timothy Watson who played an abusive husband in the long running Archers radio programme. The chosen Resolution for 2024 DENTAL HEALTH MATTERS" was debated and voted on by the delegates from all Wls in England and Wales. The Resolution was passed, and work will be undertaken to take the resolution forward. In July, LFWI had a presence at the Chorley Flower Show over a three-day period. With a stall centred around the theme of 'Save the Honeybee, a previous Wl resolution and campaign, Board members represented LFWI, spreading the word about the Wl and what it can offer women in the area. As a result, many new enquiries were followed up by the membership support team which resulted in new members. LFVVI Chair Heather Williams and Treasurer Lynda Williams attended the virtual National Council Meeting held at the beginning of November. They gained valuable information about the current Strategy to move the organisation forward and news about the Learning Hub, Education Grant scheme and Constitutional review updates. Lancashire Day is always an important date in the LFWI calendar and is traditionally held on 27th November. Celebrations were held in Southport where members enjoyed a Lancashire themed afternoon tea and entertainment. The NFWI and LFVW both actively seek to influence legislators and decision makers, specifically with regard to climate change and other matters of the environment which are of concern to Wl members. Both are affiliated to the Associated Country Women of the World organisation. Page 2
Lancashire Federation of Women's Institutes Report of the Trustees for the year ended 30 November 2024 ACHIEVEMENT AND PERFORMANCE TEAM Activities Educational and recreational activities were organised by the sub-committees as follows.. COOKERY & CRAFT TEAM I'make and Create" from 2025) Chair- Linda Hayes - Lowton Wl The Cookery & Craft Team is committed to the education and enjoyment of members by offering a wide variety of classes. In the last e1ve months, the team has organised a selection of courses including Stumpwork, Applique, Lace Making. Willow Weaving, Pearl Knotting, Advanced Sewing, Wet Felting, Beginners Embroidery, and Christmas sugar craft. The classes have been well attended and have ranged from entry-level and beginners to more advanced skills. Whilst most of the events have taken place within the Wl Office training room, the team is committed to finding suitable venues at various locations throughout the Federation, in order that members can more easily access the courses available. SHOWCASE TEAM Chair- Melanie Blackwell Woodplumpton Wl This year saw a departure from previous years, with a new format and a new venue for our usual County Show. The Showcase was held at Chorley Town Hall where good transport links and a more central location made the event more accessible to members and also, being a bustling town centre, there was more footfall. The event was held in September and members were given the opportunity to enter their work in a wide variety of arts and crafts classes with the theme of 'Under the Sea,. There were also classes for non-members and children. With over 500 entries, the Town Hall was transformed into a colourful display of crafted items, athork, and illustrated prose. Some were judged by NFWI judges, and in a departure from previous years, more were judged by members of the public which gave an inclusive and fun feel to the day. Alongside the displays, Wl members demonstrated their various skills to visitors, which included beading and patchwork. There was also a very popular floral tombola stall and a stand displaying some of the Federation archives, which members found very interesting. The charity item for this event was to create blankets for the Project Linus Charity. This charity provides security, warmth and comfort to children who are sick, disabled, disadvantaged or distressed and these have now been distributed within the Federation area. The Board invited the mayor and mayoress of Chorley and trustees from neighbouring federations. Page 3
Lancashire Federation of Women's Institutes Report of the Trustees for the year ended 30 November 2024 LIFESTYLE TEAM Chairman - Joan Randall - Rainford Wl The Lifestyle Team organised a variety of events, to suit all tastes, throughout the year. A local author gave us many ideas about how to make a start Writing that Book" The Team then gave sessions on "How to Play Whist" with a follow up session on "Improving Your Whist" These sessions were very popular and some Wls have now started their own sub-groups. A walking tour around Liverpool learning about inspirational women who helped shaped the history of the region took place in April, followed in May by a tour of the St. Helens Glass Museum which included a glass blowing demonstration. The Team also aims to deliver opportunities to engage in cultural activities and a visit to the "Shakespeare North Playhouse" in Prescot Merseyside, fulfilled this remit. PUBLIC AFFAIRS TEAM Chair- Pamela Coates - Croston WE In March a successful International Day was held in Samlesbury Memorial Hall featuring New Zealand. presentation was given by one of the Climate Ambassadors about geographical features and climate. Other activities involved Maori art, wine lasting and storytelling. During the Summer months, free 'Friendly Friday, sessions were organised, making members aware of trading standards, computer and telephone scams, phishing, and the dangers involved. Professional speakers were able to give valuable advice and raise awareness. In November, the team facilitated a free session on Basic First Aid, partnering with a local company and this included training in the use of a defibrillator. EDITORIAL TEAM Chair - Emma Gillinder - Tarleton W This is the third year of the digital edition of Red Rose News and it is carrying on with the success of the previous two years and will have produced six issues by the end of the year. The newsletter will continue to be distributed to each Wl digitally and free of charge. The aim of the Red Rose News is to educate and entertain the members and inspire other Wl's to try a range of new speakers and topics, sharing ideas throughout the membership. We are receiving some unique and entertaining articles from the Wl's and their sub-groups about speakers, activities and visits, supplemented by photographs. These have been enhanced by stand alone articles from individuals, Teams and the recipe and science contributions, as well as the graphics which add a finishing touch to the pages and offer members an entertaining and easy read. Page 4
Lancashire Federation of Women's Institutes Report of the Trustees for the year ended 30 November 2024 MEMBERSHIP SUPPORT TEAM Chair- Ruth Grimley- Rainhill Wl This team of eight NFWI trained Wl members is responsible for helping, advising, training, and supporting Wl Officers and members in the successful running of their Wl's. Team numbers were reduced to four at the end of October 2024. Advisers carried out their role with telephone calls, by email and travelling across the Federation for face-to-face meetings with the committees and Wl meetings. Our web pages have been updated and our details, profiles and allocated Wls are easily seen by members. An article in each edition of Red Rose News is also produced on subjects that are topical for members. Advisers delivered training sessions for Wl Officers in January, February and March. These were well attended, and evaluations were very positive. They helped to reinforce that Advisers were in a position to help and support members. Additionally, training workshops were also organised specifically for committee members and others to assist Wls better understand their roles and responsibilities in relation to the national legislation we must adhere to. A number of our Wl's are holding waiting lists to join, as facilities are up to a maximum number. Throughout the year we have responded to numerous requests for membership of the Wl by directing prospective new members to their nearest Wl. Women are telling us they want to make friends and learn new skills. Seven Wls were suspended during the year, due in the main to members not being willing or able to take on officer roles, but we are pleased to report that six new formations have occurred. Fundraising activities & Investment performance Looking ahead, the overall social and economic outlook remains unsettled. There are concerns over how long and how deep the effect of the conflicts in Ukraine and the Middle East will have on both people and organisations for the coming year and possibly beyond. There are worries over inflation and the cost of living plus future levels of personal, disposable incomes. Putting all this together, it reinforces the benefits of maintaining a prudent and safe investment portfolio consistent with the investment objectives of the Trustees. Overall the Trustees are satisfied with the positioning of the funds available to LFWI in the year. So whilst increasing interest rates have benefitted LFWI by increasing the return on our investments, there has been a corresponding increase in the cost of living for both us and our members as we all need to spend quite a bit more just to buy the same as we did last year. Internal and external factors There are many internal and external factors which will affect the future performance of the Charity. The Trustees are well aware of this and regularly review the strengths ancl weaknesses of the Charity. Without going into every single possibility there are certain factors which will impinge upon both the present and future and these include., the conflicts in both Ukraine and the Middle East and the affect on commodity and food prices etc. and any resultant inflation, any disruption to the way we live our lives or conduct events due to Covid or any other such emergency that may arise in the future, uncertainty and movement in stock markets and interest rates which leads to future unpredictability over both investment returns and also personal disposable incomes, and lastly the Charity is always under pressure on the recruitment and retention of members and particularly Wl officers. Page 5
Lancashire Federation of Women's Institutes Report of the Trustees for the year ended 30 November 2024 FINANCIAL REVIEW Principal funding sources and underlying performance LFWI is a membership-based organisation and consequently, as in previous years, it derives its main source of income from membership subscriptions and from activities organised for members. Whilst there are certain anticipated fluctuations in both income and expenditure year on year, these have also been affected by both economic and world factors. Putting all this together, and with recent member numbers being largely stable, the performance over the last few years is as expected. The Board of LFWI is mindful that although performance is stable, they should continue to spend wisely and exercise prudence. On a positive note, the good management of investment funds, combined with rising interest rates over the past years, has seen a much better return on the funds held on deposit. Investment policy and objectives The Board of Trustees has the power to invest funds in such stocks, shares, investments, property or bank deposits in the UK as they see fit and in accordance with the Memorandum and Articles of Association, the Wl Constitution and Charities legislation. The Trustees consider social, environmental and ethical criteria when managing the funds of LFWI. They would not wish to hold any investments or deposits that knowingly could be to the detriment of the Wl generally, although they are mindful that one of their prime duties is a financial one. The Trustees have agreed to pursue a policy of low to medium risk to protect the capital value of the long term bank deposits held as investments. The Trustees appreciate that this will produce only a moderate return to provide an income for the Federation but do not wish to subject the capital available to the unpredictability of the markets. Reserves policy LFWI requires reserves to allow it to continue to work in the event of unforeseen disruption to income streams. The Trustees consider holding unrestricted reserves equivalent to beeen six and e1ve months to be optimal. At present the unrestricted funds, excluding funds on long term deposit to generate an investment return, stand at the equivalent of approximately 12 months expenditure. This policy is reviewed by the Trustees annually. The funds in the financial statements are defined as.. Unrestricted Fund - General Fund This fund is unrestricted and is used for all charitable purposes without restriction in accordance with the governing documents. This fund includes a balance of £160,404 12022.. £160.404) transferred from The Lancashire Federation of Women's Institutes Fund {which arose on the incorporation of the charity). Restricted Fund - Joy Morgan Bursary Joy Morgan was an active Lancashire member with a passion for Denman College. After her death she left a bequest in her will for sums to be used as a bursary to assist members to attend Denman College courses. As Denman College has now closed, it has been agreed, in consultation with the Executors, that this bursary will now be used to assist members in taking educational courses organised by LFWI which it is felt will reflect the original legacy. The amount held in this bursary fund is £3,64412023.' £3,465). Restricted Fund - Broughton Wl Bursary and Fulwood Bursary This fund was bequeathed to LFWI by a now deceased member with the purpose of providing annual bursaries to attend courses at Denman College. As Denman College is now closed, these courses can be taken through LFWI and other educational organisations. A member of Broughton Wl and a resident of Fulwood can apply for a bursary each year. The amount held in this bursary fund is £5,63012023.. £5,551). Funds in Deficit At the year end there were no funds in deficit. Page 6
Lancashire Federation of Women's Institutes Report of the Trustees for the year ended 30 November 2024 FUTURE PLANS The Board of Trustees will continue to make every effort to search out geographical venues for new Wls and provide learning and training opportunities for members in a wide variety of subjects and where possible to allow all members to play as full a part as possible in areas where LFWI can have an input. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document LFWI is a company limited by guarantee, as defined by the Companies Act 2006 and is controlled by its governing document, the Memorandum and Articles of Association. In the day to day running of LFWI the Trustees comply with the VVI Constitution. Organisational structure All Women's Institutes (Wlsl are affiliated to a County or Island Federation. At the present time there are 151 (2023.. 152) Wls, with a total of 6,136 (2023.. 6,103) members affiliated to the Lancashire Federation of Wls. The area covers Tunstall in the north to Halewood in the south and Blackpool in the west to Saddleworth in the east. Each Wl is responsible for its own financial affairs. The financial statements of LFWI include only those transactions relating to LFM and not to the financial activities of local IMS. There is a triennial election for members of the Board of Trustees {the Board) which consists of up to Iwelve members who represent all Wls. The Board also has the power to co-opt up to four further members. Any paid-up member is eligible for nomination provided she is not a salaried member of LFWI or a Trustee of any other Federation. The election is conducted by postal ballot. The Officers of the Board are elected annually to the Board as soon as possible after the Annual Council meeting. At a special Board Meeting on 18 April 2024 Heather Williams was elected Chairman, Lynda Williams was elected Treasurer and Melanie Blackwell and Pamela Coates were elected Vice-chairmen. The other Trustees serving on the Board are Patricia Forder, Emma Gillinder, Ruth Grimley, Linda Hayes, Alice Marquis-carr and Joan Randall. The Board of Trustees meets monthly to make any policy decisions and discuss the smooth running of LFWI. They are also responsible for the sound financial running of LFWI including setting reserve policies and the investment policy. During the year under review there was one part-time member of staff, Diane Jenkins. Diane is both Federation and Company Secretary and is responsible for the day to day running of the office and administrative affairs together with keeping the primary financial records. The organising of some events is delegated to certain sub-committees which are appointed by the Board of Trustees biennially. The LFWI is affiliated to the NFWE. Recruitment, induction and training of new trustees Vvhen recruiting, inducting and training new trustees, the Charity follows the principles as set out in the Wl Constitution. Trustees are given the opportunity to receive training from both LFVW and NFWI during their term of ofFice. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 03675104 (England and Wales) Registered Charity number 1076283 Page 7
Lancashire Federation of Women's Institutes Report of the Trustees for the year ended 30 November 2024 Registered office 8 Croston House Lancashire Business Park Centurion Way Leyland Lancashire PR26 6TU Trustees PSV Coates R L Grimley H Williams LM Williams PE Forder J Randall M J Blackwell LJ Hayes EE Gillinder (appointed 131412024) AR Marquis-carr {appointed 131412024} Company Secretary E D Jenkins Independent Examiner Mcmillan & Co LLP Chartered Accountants 28 Eaton Avenue Matrix Office Park Buckshaw Village Chorley Lancashire PR7 7NA Advisers Principal Bankers Virgin Money l Yorkshire Bank 2 - 4 Abingdon Street Blackpool Lancashire FY12DR FUNDS HELD AS CUSTODIAN FOR OTHERS The Charity does not hold any funds as a custodian. PEOPLE The Board of Trustees values the contribution made to LFWI by its members and both its paid staff and volunteers and considers that good communications and relationships with its members to be very important and makes relevant information available to all. Page 8
Lancashire Federation of Women's Institutes Report of the Trustees for the year ended 30 November 2024 This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by order of the board of trustees on 28 March 2025 and signed on its behalf by.. H Williams - Trustee Page 9
Independent Examiner's Report to the Trustees of Lancashire Federation of Women's Institutes Independent examiner's report to the trustees of Lancashire Federation of Women's Institutes I'the Company.) I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 November 2024. Responsibilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company law} you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'} Having satisfied myself that the accounts of the 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 Carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(51 (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: accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act., or the accounts do not accord with those records., or the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination., or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities lapplicab5e to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021). 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. DA Rogerson FCCA, BFP, ACA Mcmillan & Co LLP Chartered Accountants Date: 28 March 2025 Page 10
Lancashire Federation of Women's Institutes Statement of Financial Activities for the year ended 30 November 2024 2024 Total funds 2023 Total funds Unrestricted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Charitable activities Activities of the Federation Investment income 118,982 10,043 118,982 10,501 108,936 7,649 458 Total 129,025 458 129,483 116,585 EXPENDITURE ON Charitable activities Activities of the Federation Other 114,566 1,000 114,566 1,200 113,510 200 200 Total 115,566 200 115,766 113,710 NET INCOME 13,459 258 13,717 2,875 RECONCILIATION OF FUNDS Total funds brought forward 245,510 9,016 254,526 251,651 TOTAL FUNDS CARRIED FORWARD 258 969 9,274 268,243 254,526 The notes form part of these financial statements Page11
Lancashire Federation of Women's Institutes Balance Sheet 30 November 2024 2024 Total funds 2023 Total funds Unrestricted funds Restricted funds Notes FIXED ASSETS Tangible assets 4,967 4,967 6,546 CURRENT ASSETS Debtors Cash at bank 4,223 269,553 4,223 278,827 3.936 273,480 273,776 9,274 283,050 277,416 CREDITORS Amounts falling due within one year 10 119,774) 119,774) {29,436} NET CURRENT ASSETS 254 002 9,274 263,276 247,980 TOTAL ASSETS LESS CURRENT LIABILITIES 258,969 9,274 268,243 254,526 NET ASSETS 258,969 9,274 268,243 254.526 FUNDS Unrestricted funds Restricted funds 258,969 9,274 245,510 9.016 TOTAL FUNDS 268,243 254,526 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which othemise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. (b) The notes form part of these financial statements Page 12 continued...
Lancashire Federation of Women's Institutes Balance Sheet - continued 30 November 2024 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 28 March 2025 and were signed on its behalf by.. LM Williams - Trustee The notes form part of these financial statements Page13
Lancashire Federation of Women's Institutes Notes to the Financial Statements for the year ended 30 November 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The presentation currency of the financial statements is the Pound Sterling (£1 and the amounts in the financial statements have been rounded to the nearest £1. Financial instruments Financial instruments are recognised when the entity becomes party to the contractual provisions of the instrument. Basic financial assets, which include debtors, prepayments and bank balances, are initially measured at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the asset is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals, and any borrowings, are initially recognised at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the liability is measured at the present value of the future obligations discounted at a market rate of interest. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity 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 is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Fixtures, fittings and computers at variable rates on reducing balance Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the Report of the Trustees. Pension costs and other post-retirement benefits The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Page 14 continued...
Lancashire Federation of Women's Institutes Notes to the Financial Statements - continued for the year ended 30 November 2024 INVESTMENT INCOME 2024 2023 Bank interest receivable 10,501 7,649 NET INCOMEI(EXPENDITURE Net incomel{expenditure) is stated after charging/lcrediting)-. 2024 2023 Depreciation owned assets 1,579 2,484 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 30 November 2024 nor for the year ended 30 November 2023. Trustees, expenses 2024 2023 Trustees, expenses 2,921 2,789 STAFF COSTS The average monthly number of employees during the year was as follows.. 2024 2023 Administrative, secretarial and finance No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds Restricted funds Total funds INCOME AND ENDOWMENTS FROM Charitable activities Activities of the Federation 108,936 108,936 Investment income 7,293 356 7,649 Total 116,229 356 116,585 EXPENDITURE ON Charitable activities Activities of the Federation 113,510 113,510 Other 200 200 Total 113,510 200 113,710 Page 15 continued...
Lancashire Federation of Women's Institutes Notes to the Financial Statements - continued for the year ended 30 November 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted funds funds Total funds NET INCOME 2,719 156 2,875 RECONCILIATION OF FUNDS Total funds brought fomard 242,791 8,860 251,651 TOTAL FUNDS CARRIED FORWARD 245,510 9,016 254,526 TANGIBLE FIXED ASSETS Fixtures, fittings and computers COST At 1 December 2023 and 30 November 2024 31,338 DEPRECIATION At 1 December 2023 Charge for year 24,792 1,579 At 30 November 2024 26,371 NET BOOK VALUE At 30 November 2024 4,967 At 30 November 2023 8,546 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors VAT Debtors, prepayments and payments for future events 300 2,813 766 2,622 1,110 548 4,223 3,936 Page 16 continued...
Lancashire Federation of Women's Institutes Notes to the Financial Statements - continued for the year ended 30 November 2024 CASH AT BANK 2024 2023 Broughton Wl and Fulwood Joy Morgan Bursary Bursary General fund Total funds Total funds Bank current accounts Bank deposit accounts 40,966 228,587 3,644 44,610 234,217 27.728 245,752 5,630 Total 269,553 5,630 3.644 278,827 273,480 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Creditors, accruals and receipts for future events Social security and other taxes 19,155 619 28,818 618 19,774 29,436 11. MOVEMENT IN FUNDS Net movement in funds At 30111124 At 1112123 Unrestricted funds General fund 245,510 13,459 258,969 Restricted funds Broughton Wl and Fulwood Bursary Joy Morgan Bursary 5,551 79 5,630 3,465 179 3,644 258 9,274 TOTAL FUNDS 254,526 13,717 268,243 Page 17 continued..
Lancashire Federation of Women's Institutes Notes to the Financial Statements - continued for the year ended 30 November 2024 11. MOVEMENT IN FUNDS - continued Net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 129,025 (115.566> 13,459 Restricted funds Broughton Wl and Fulwood Bursary Joy Morgan Bursary 279 (200) 79 179 179 458 258 TOTAL FUNDS 129,483 115,766 13,717 Comparatives for movement in funds Net movement in funds At 30111123 At 1112122 Unrestricted funds General fund 242,791 2,719 245,510 Restricted funds Broughton Wl and Fulwood Bursary Joy Morgan Bursary 5,527 24 5,551 3,333 132 3,465 8,860 156 9,016 TOTAL FUNDS 251,651 2,875 254,526 Page18 continued...
Lancashire Federation of Women's Institutes Notes to the Financial Statements - continued for the year ended 30 November 2024 11. MOVEMENT IN FUNDS - continued Comparative net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 116,229 (113,510) 2,719 Restricted funds Broughton Wl and Fulwood Bursary Joy Morgan Bursary 224 1200) 24 132 132 356 156 TOTAL FUNDS 116,585 113,710} 2,875 Further explanation on the nature and purpose of each fund is included in the Report of the Trustees. RELATED PARTY DISCLOSURES 12. There were no related party transactions for the year ended 30 November 2024. Page19