STAFFORDSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 IA Company Ilmlted by guaranteo not havlng a $hare capital) Company Number 4714026 Charlty Numb¥r 1097974 ORDS STAFFORDSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES A REGISTERED CHARITY INUMBER .' 10979741 COMPANY NUMBER 4714026 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CONTENTS Report of thè Trustees Independent Examinerfs Rep ststemen¢ of Financial AcUvitKgs Balance Sheet 10 Notes to the Flnanrial Statgmenls Pag8 1 STAFFORDSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTE5 A REGISTERED CHARITY (NUMBER . 10979741 COMPANY NUMBER 4714026 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 R6ferenct and Admlnl8trative Informatlon The Tfusiees present their report and the unaudited Flnan¢ial Statemen￿ of the Charty for the y88r ended 31 March 2024. The Trustees have adopted the provisions of the Statetnent ol Re¢ommend8d Practice ISORPI'Ac¢Oun￿ng and R8POrting by ChailtiÈs' IFRS1021 in preparlng the annual report and Financial Statements of th8 Charity. The Flnancial Stat8menls have b&en prepared in accordance with the accounling policies set out in note 1 to the accounts and cotnply wllh the Charitys goveming document, the Charities Act 2011 and Accounting and Roporting by Charille$.' Statement of Recommended Pra¢ti¢8 appllcable to Charilles preparing their 8ccounts In accordance wlh the Financial ReporUng Slandard applicable in th8 UK and Republic of Ireland IFRS 1021 (effective January 20191- Charities SORP IFRS 1021. Ihe Financial Reporting Standard applicatsle in the UK and Republic of Ireland IFRS 1021 and Ihe Companies Act 2006. Reg15t8r¢d Offlce The Ctsrnerston8 Common Road Stallord Staffordshire ST16 3EQ Dlre¢tors and tru$teg4 The Director8 of the charitable company (thè Charftyl are 11$ Trustee$ for Ihe purpose ol th8 charity law and throughout Ihls report are ¢ollectiv8ly rolerred lo as th8 Trustoes Tru8tO0$ B Podmor8 J A Crump H R Mancey A H Newman R Dyche V Conner K Sulway J Moorby J hAorrison Dr M Cooke S M Roden reslgned 30 June 2023 appointed 24 J8nuary 2024 appoint8d 24 J8ntJ8ry 2Q24 Chalr H R Mancey Compttny Secretary B Podmore Independent A¢countan¢s Winton 8alh Group Chartered Certified A¢countant$ 8 Farranti Court Staftordshire Tèchnokjgy Park Stafford staffordshire ST18 OLQ Banktrrs Lloyds Bank 5 Market Squarè Statford CAF Bank Lid 25 Kings Hill Avenu8 Kings Hill Wesl Malling Kent, ME19 4JQ ST16 2JL Pagè 2 STAFFORDSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES A REGISTERED CTrIARITY (NUMBER.. 10979741 COMPANY NUMBER 4714026 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ObleCtfv￿ and Actlvltles Th8 main purpo$es ol the Wl organisation are.. To advance the 8ducalion of women and girls foi the public b8neflt in all 8r8as including. without Ilmilation, local nation81 and international issues ol politic81 and social irnportancg, music, drama and other Cultural subjects.. 8nd all br8nche5 of agriculture. uafts, hom8 8conomic8. sci8nc9, health and social welfare., To promote sustainable development lor the publlc benefit by educating people In the pr85ervallon, conservation and pro18clion ol th8 environment and the prudent use of natural rewurc8s, and promoting sustain8bl& means of a¢hievlng economlc growth and r8generalion' To advanc8 h8allh lor the public benefil., To advance Citizenship lor the public benefit by Ihe promotion of civlc responsibility and voluntsering. The Slaffordshire County Federation of Women's Institut88 seeks lo give wornen th8 OPPOrtunlty of working togelh8r through the Wl organisalion in their communilles, of developing th8ir capaolly and skills, and of putting In lo practlce th08e ideals for bvhich Ihe Wl organls8lton stands. W8 welcome all wornen ￿98rdlesS of personal back9round, faith 01 porsonal circurnslanc85, and we believe this philosophy of opènness lo all onri¢hes 8veryone Ihrough the sharing of skills. aptitudes an¢J lif8 8xperience$. Putsllc B•neflt Tho Trustees ctsnfirm that they have complia wrth the duty In 6e¢tson 17 of the Charities A¢t 2011 to have due regard to the public benelil 9uid8nce publish8d by the Charity Commission in d8t8miining the a¢￿vItieS undertaken by tha ¢harity. Achlevements and Performan¢9 Prematu e Babl8S SFWI rngrnbors Continu8 lo provide hundreds of knitted items for prèmature bobios In local h05Pitals. Coun Show SFVVI Continues to show ¢as8 The Wl to our membership and the comrnunlly through the Wl tent at the Staffordshlre County Show. Trau Teddles SFWI tnèmtyers provid6 many knitted trauma teddies which benefits vulnerable children. Pagè 3 STAFFOROSHIRE COUNTY FEDERATSON OF WOMEN'S INSTITUTES A REGISTERED CHARITY (NUMBER- 10979741 COMPANY NUMBER 4714026 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Chalrfs R•port As tsf 31 Mar¢h 2024 thero are 104 Wls and 3,437 members in Staffordshir8 Federation of Wotnen's Institulgs ISFWII. 2 Wls were suspended (this m8ans cbsed. but not pertnanently until 3 years aro up, giving chance to reform in the $8rne areal. They werg Stonnal Wl (this was due to lack ol officersl and Mme for Cak8 Wl Ilhls was b8cause of the Covid 19 Pand&mi¢l. At thè Federation w8 employ an Administrator and an A¢counts Gkrk. both part tlme. We employ a clean8r who attends on a lortnightly basis. Th& Corn8r8tone Ilhe Fed8ration buildlng and landl is owned by Staffotdshlre Federation ol Women's In511tutes. W8 have 8ttracted some charitable donations, volunteer contrlbutions and have paid for some work for the maintenance ol the bulldSng and land. Also, durlng th1$ tlrne. the IT provision in IhE building was Improved. The alm ol thi$ Is to help wl¢h Vlrtual or Hybrid meetings and assist with leaching and uaft Sessions foi members held al The Comerstonè. As each contract for seNlces in th8 building comes up, wtr are taklng an opportunity to reV￿W the ¢o$t$ and ben8fil$. In January 2024. Mrs Helen M8ncey was re-e18Cted as Federation Chalrman, Mrs Verity Conner was re-elecled as Vice Chairman, and Mr$ Jan8t Moorby was re- elecl6d as Vice Chairman. Mrs 88ry1 Podmore was re-elected as TTeasurar. Mrs Jenny Crump retlTed as Trustee. Dr Mary Cooke and IArs Sug Roden w8re both welcomed #s new Trustees. The other Trust•as are Helen Newman, Karen Sulway, Rose Dyche, and Jocelyn Morrison. There are 6 Sub- Committee$ in SFWI. They are Craft Art and Design, Educallon and Public Affairs, Counly Show. Leisure and Pleasure. Events and Member Support. All the comrnittèts put on s8S5ions, visits 8nd events that fall in ￿1h Th8 Wl charitable objects and purp08es, throughout lh8 year. Meetings are h81d at The Cornerstone, but many are hetd virtualty to reduce travèl costs. Some me8tirwJs are hybrid, a mlx of fa¢? lo face and virtual. Smaller craft events and Iraining sessions are held al The Cornerstone, r8duelng hire ¢osts of other venues. °Herè ¢omes Spring" and'lts Christtnas" are lh8 2 biggest events at staffordshlre Showground and are very populaT altracting over 300 members. These 2 events have no business. We changed to this format based on member comments. Thore are slalls selllno food and ¢rats arKI hloh-profile spgakers. The Slafford5hire County Show in May remains as a showcase and advgrt to Ihe publi¢ for SFWI. A provi8w evening is held the evening before for early bird viewng ol the cornpelitlons and displays creat8d by the County Show Commitlee. Thls attracts a big footfall. giving opportunlty lor lh& public to lest a while whi18t taking ￿freshMents. The marquee won second priz8 in the whole show in 2023. The Member Support Committee Is comprised of 4 Wl Advisers and 4 Wl Adviser A$sislants. We have agreed 2 spacgs for Wl Adviser training but ar& still walting for the n8w Iralnlng lo b8 announced from The National Fedwallon of Woman's Institutes INFWI). The Wl Advisers provwje support and advice to 811 the Wls and ¢an opon or su5Pgnd Wls a$ part of their role. Thi5 committee puts on workshop style evenis Io enhance the skills ol Wl officers IPresidenls. Secretaries and Treasurers,} these have been well r8e8ived and alt8nded. A resolutions rneeting was held In November to debate the now resolutions in line with The Wl caTnpalgn a¢tivities. This yèar 3 resolutions were pul forward io NFWI from Staffordshire. None ol thes8 feached the final stage. but staffordshir8 W15 and m8mb8r8 remaln active and keen in Ihi5 area. M8mbers were signposled to a Iree Service avallablo via the local ￿brair&s C811od"IT Buddies. This is a one-tO￿ne servicè to help members bècome confidènl In use gf IT. continued overlgaf.... Page 4 STAFFORDSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES A REGISTERED CHARITY INUMBER .. 10979741 COMPANY NUMBER 4714026 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Chalvs Report- contlnu Thg NFWI Wl Learn￿ng hub wa5 launched in January 2024. This is providing free lin mosl cases), virtual Ilfelong leaining for all members. We are ¢ommilt8d to promoting this to our members as a benofit of Iheir membership. We can apply for a grant to the NFWI Wl Learning Hub for the F8deratlon ¢0 provid8 face lo fa￿ 18arning lor our members. We arg currentlv workin4 on a bu$in8ss plan to be ready when the application date is open. We produc8 a monthly News Bullefjn. This is sent out via è mail. Ihen for Wls to circulate 10 all mombers in a way that is acceptable lo them. We have a ¢ornmitment lo So¢lal Mgdia and place posts on Facebook and Insiagrarn. Karen Sulway the Resolulions officer supports thg resolutlon process as w811 as The Member Support Cornmitt8e and Trustees. Sue Rod8n took over thls role in January. Helen Nowman was appolnted to th8 rol8 of Federation Saleguarding Officer, and thls has rolev8ncè Importance in so¢lely and The Wl today. Members wntinue to produce a huge olnouht of Premature Baby Clothes and TTauma Tedd￿$ for vulnerable ¢hildr8n which help lo make a differenc8. A Partnership was launched with Slaffordshire Women's Aid on Wl Day ISgptemb8r 16 1 in 2023. to add the collectyv8 voice of Wl members across the Covnty to the message Ihal Violonce Against Women and Young Girls is not ac¢eptab18. Thls connects wlth Ihe 2019 Resolution No Mtsre Violence Aoainst Women. R8cruittnent and retention of Truste88, Wl Advisers. commitlee members and Wl Mèmbers remains on our agenda. We a￿ayS consider equallty. diversity, and Incluslon wth this. The Time for Change agenda is an ongoing and lrnport8nt focus for us. Wo are ensuring ￿ actively look lo thè future for SFWI to remaln relevant for modein women. We promote the benelits of bfiill9 a Wl m&mbÈr. Also, Inspiring wom8n by providing fiiendships. providing 8ducalK)nal resources. campaigning opportuniiie$. in Iheii Wls, whllsl makinq pos11ive impacls on our communities. Helen Manc8y Chalr Page 5 STAFFORDSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES A REGISTERED CHARITY (NUMBER.. 10979741 COMPANY NUMBER 4714026 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Flnanc5al Revlew Reservas PoI￿Y The present level of funding is adequate to support the work of the charity for the medium term, and the Trusle8s cOns￿er the finanoial position of ￿ oharSty to be satisfa¢iory. The Trusiees have adopted a rgserve pollcy which should ensure thal unreslrKled fund5, not invesled in tangible fixed a5se15, aTe tnainlained at 6 month5 running costs. whlrh they Gonslder adequate to ensu￿ that the chanty is able to meet all current known future liabilities. The re5ervÈ policy btr reviewed annually. Transactions ènd Flnan¢lal Po$ltlon During Ihe year the chanty made a surplus of £514 in relation to its charitable actlvllle5. The overall posltion lor the ygar was a $urplu$ of £5,133 due to 8 9ain in Investments value of £4,619. Plan$ for Futur¢ Perlods To undertake a variety of aclNilies lo brin9 members togelher. strengthen the organlsation. and ralse awarone$s of the Wl'5 8chievetn8nt5 and influgnc8 To gain and retain rnernbers by continulrvj lo prornote rnernbershlp and to prornote a ptsslti￿ m(KJem and d￿Ve￿ image of th8 organisalon To en¢ourag8 Wl members to adopt h8allhier, tnore sustainable lilesty￿s, and to encourage partiGipalion in lelsure, suen¢e and combined arts a¢livllies To en¢ourage lo al¢8nd Courses arranged by the Fed8r8tion. To provide fundlrvJ lo ensur8 that membgrs who arè alroady tdoniifiod as tralnors attend refr&shor ¢ourses to $nsur8 thelr knowledge and skill level is maintained To provKI8 training and 8UPPOrt to Tru$to6s to support Ihem in thoir rolos Continued funding (or external and inl8rn81 maintenance of C£¥nerslor18, applwry for rel8varnl grants that might b& available To regularly mnitor all bank accounts and Inv8Stm8nt portfolios to ensure that best returns arts achi￿6d Structure. Governanco and Management AII TNsl88S 91¥9 their timo fr00ty, however a honorarlum was agreed to b8 pald to both Ihe Chalr and th8 Company Secretarythis year, ajYK>Un￿ng to £700 each. stafford5hire County Federation of Women's Instilules Limited is a company limi18d by guaranleo, company number 4714026 and not having share capltal it Is govemed by Ils Memorandum and ArtKbs ol As$0¢iats"on. It Is r8gist8red with th8 Charily Comrni$$ion undor charity numb8r 1097974. Pag8 6 STAFFORDSHIRE COUNTY FEDERATION OF WOMEN'S INSTITirfES A REGISTERED CHARITY (NUMBER .. 10979741 COMPANY NUMBER 4714026 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Board of Trust•OS The role of the Board ol Trustees Is to manag8 the affairs ol the Federation. The Trustees are Ihe chority trusie88 of the Federation as defined In the Chariti88 Act 2011. Number of Twslee5 Unless othemise de¢ided by resolulvjn. the Board ol Truste85 shall consist ol at least èight and not mora Ihan rifteen persons. The elected Trustees may co-gpt additional member8 lup to one third ol their own nu¥nberl to hold off1¢8 until th8 next èle¢llon. ointm8nt of Trustees Tru$l8es ar6 elected blennially. The 81octlon process starts with th8 Federation issuing nomination papers. Any Wl or a cuiront Trusiee ¢8n nominat8 Someone lo siand for the Boa¥d ol Trustees. To be ellgible the nomin88 tnusl be a fully paid up rn8rnber, not a member of the Board ol Trustees of another Federallon, nol b8 a 5alar+ed employee ol the Federation, and not an undischarged bankiupl. More information can be found in th8 Trustee Eligibility & Responsibllily Oocum8nt. If Ihore are f8wer notninatlons Ihan places on the Board of Trustees then all nomlnees are d8emed to be 818¢ied. 11 th8re are rnore nominations than the￿ are places th8n there has to be an election. Th8 names of the new Board are announced the day after the Annual Council Meeting. The new Board t8k85 offlce following the election. I new TrustÈ88 ar8 provided with appropriate training sts as to havg sufficient understanding ol Ihe naluTe ol the charity, to enable them lo carry out their dutlos as a truste8 Wlth full awareness of their responsibility lo comply with Charily Commlssion legislation. Furthor training 18 provid8d to both new and exists.ng trustees when appioprlate. Any pgrson who has s¢rved as a m8mber of the SFWI 808rd of Tw$tees lor tsvo y88rs, is allglbl8 lo stand for election as an Officer of the Federatlon. rm f office Elected Trustees shall norrnally hold office for 8 period ol tw) year8. Subject io &ny bye-laws of the Federation restrl¢llng eligibility, & Trustee who retire5 at an Annu81 General Meellng may, if wllling to act, b8 re-eleGted. If she is not re-elected. she will r8tsin office until the form81 announcement ol tha elect40n r8suS1s. The SFWI Chalr. Honorary Treasurer and other officers are elected annually by Ihe Trustees from arnong th8lr number. Risk Management Dufing ihe year to 31 March 2024 the Trustee8 a$se55ed the slrateglc, operatlonal and financial risk5 to which the harity is exposed, and are satlsfied that 5ySt8tn5 are In place to rniligate the exposure to the major risks idgntified An annual risk r8vièw wlll be Carried oul in future Llmited Liablllly The Ilability ol the membèrs of the Federation 18 limited. Every member of the Federation undertal(es lo wnlribute a sum, not eK¢8edlng £1 lo the assels of the Federallon if il is wound up during Ihelf membership, or wlthln one year afterward5. lor paymenl of th8 debts and liebilities of the Federation Contracted bèfore thg lim8 when membership ¢eased, for the costs, charges and exp8ns8s of winding-up the Federallon, and for the adjustment of the right5 01 the coThtributorie9 among thems81ves. Pa9e 7 STAFFORDSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES A REGISTERED CHARITY INUMBER '. 10979741 COMPANY NUMBER 4714026 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Tiusteos Responslbllltlos In Relatlon to the FinancÈal Statements The Truslees who are also Directors DI Stafford8hir8 County Federalion ol Women's Institutes Limited. for th8 purpo88S of cotnpany law. are responsible for th8 preparation ol Ihe Trustees, Report and th8 Financial Slalemenls in accordance wlth applicab18 law and United Kingdom A¢countlng Siandards Iunited Kingdom Generalty Accepted Accounting Practice). Company law r￿uir$S thè Trust006 to prepare Flnanclal Statements for each finan¢lal y8ar. which giv8 8 true and fair 8w ol tho slate of affalrs ol th8 charitable cotnpany and ol the in¢oming r850urces an¢J appllcallon ol re$ourc8S, in¢luding the income and expenditure. ol thè charitsblg ￿MpanY for the year. In preparing Ih888 Finandal Slalements, th8 Trustees a￿ requried lo.. 88lect 5ultabl8 accountlng policies and then apply Ihern conslst6nlty- ob$erve the melhods and principles in the Charitie$ SORP.. make judg8rnenis and eslitnate5 that are reasonable and prudent- state whether applicable UK Accounting Standards have been followed. subl9Ct to any material d8partur8s disc105ed and explained in the f￿nancial statements.. prepar8 th8 financial 51aternents on the going conc8rn basi5 unless it Is inappropriate lo presutne UMI Ihe charitable Company ￿￿11 continuè In oporaiion. b} dl Th8 Truslees are responsSble for maintaining proper accountiny re¢ord$ which disclose with reasonable a¢cura¢y. at any time. the Ilnan¢ial position of the Charity and enab￿$ them to ensure that the FinancSal Stslem8nt8 comply with the Companies Act 2006 and the Charilies Act 2011. The Trustèes a￿ also respon8ible for 88f8guaiding tho assets ol the Charity and h8nce tsking reasonable steps for the preventton and detection of fraud and other Irre9ulariti8s. Smo11 Company Provlslon5 This report has been prepared In accordanee wlth the special provis￿nS of part 15 of the Companies Act 2006 relating to small companies. Apprtsvad by order of the Tru5ta8s on . and sign8d on its behalf by.. H R Mancey- Chair and Trustee B Po4r Pago 9 STAFFORDSHIRE COUNTY FEDERATION OF WOMEN'8 INSTITIJTES A AESISTERED CHARITY INUM8ER.. 10979741 COMPANY NUMBER 471402¢ 8YATEMENT OF FINANCIALACTIVITIES (INCLUDING INCOME AND EXPENDITIJRE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2024 Llnrèstrictod Fund8 R•$trlct¥d F¥nd$ Toial 2024 2023 I￿oME FROM.. Donatlon8 and Lellacles Donallon$ Ch#rl¢Able actlvltl•8 Aifillalion Ipo$ Board of Trusiees Su&committees 37.305 1.388 28,013 37.305 1.386 32.772 4,672 23.764 14 86.703 Olh?r Iradlng •cllvltles Fund rol￿ng events ChaiitAtAe I[￿g aclNrfi6¥ 3.101 3,101 2,334 5,435 2,059 2.517 4.576 Invè&tment¥ Relutn on lrtveslmenls Inleresl r8¢El¥ab 2.003 2.003 1.647 3650 1,716 854 2,570 356 J56 3.294 Other infjom¢ In¥ur8n¢e Gr￿1 1￿Me 2.932 2.586 2.932 2.586 TOTAL114COiIE 78.365 356 78,721 70.940 EXPENDITURE ON= RBlslno fund$ Fundraislng and appeAIB Investment ￿TrtS coMmi6sion Tradillg m8t¢rlal$ 1.229 867 1.514 3.610 1.229 827 835 1,514 3.610 4.073 Charit4bl• •¢tlvltl¢s Board ofTrus￿e& Support cos Sub4vmmlllo•s-. Cr4tt. Art and DeBVJn Ed￿al￿n & Public Ar[￿rts Eyenls CDmmlllee Mernb&r Support Lewre & Pk8suFè County Show 14 13 466 57.659 413 49.528 57,659 1,266 45 13,549 240 586 45 13.$49 240 180 12.945 1.587 66.312 74.596 Affiliation feeg Total EAp•ndlture 78.207 78,207 70,385 Net Incom@1 Itxpendliurel and ntrt movement lTrfundF ￿f0*¢ galns and1083p¥ Invealmenls 158 356 (Lo3¥11 Gahi on Inve51m￿t$ 4,619 4,619 13.2491 14£T INCOME IIEXPENDITUREI 8EFORE TKANSFERS TFgnsfefS bewn lund5 NET MOVEMENT IN FUNOS ,777 356 5,133 RECONCILIATION OF FUNDS Fund b8lan¢es brought forward 231,206 15.079 246.285 248,979 FUND BALANCES CARRIED FORVIARD 235.#83 15,135 251,410 246,285 Th¥ nol8s on pg995 1110 14 form pgrt of Il¥e¥• accoun15 Page 10 STAFFQRDSHIRE COU14TY FEDERATION OF WOMEN% INSTITUTES A REGISTERED CHAR Thy INUMBER.. 10979741 COMPANY NUMBER4714026 BALA14CE SHEET FOR THE YEAR ENDED 31 MARCH 2024 Not¢$ UnfO8trl¢t¢d Rè&trlcled Fundi Funds Total 2024 Total 202Y FIXED ASSETS Tanglble asse15 InveElmenis 117,597 117,597 106 264 223.862 116.572 99,465 216.037 213.747 10.115 CURRE14T ASSETS InveElrnenis Trodlno materials In hond Prepayrnenls and aCc￿ed income Other taxes and SOCHI security CA5h al 8ank Polly Ca¥h 9.744 9.744 500 5,847 9.689 500 6,867 5.847 34.286 100 50.457 5.320 39.585 100 55.777 27.635 775 45,446 5.320 CREDITORS Amouni¥18lllng duo wNhh on• yoar 28.220 28.220 15.198 NET CURRENT ASSETS 22,237 5,320 27,557 30,248 TOTALASSETS 235.983 15.435 251.418 246.285 REPRESENYÈD BY.. In¢onw Funds.. Aecumulaied funds R•slrlet•d funds= Bursaryfund$ 235,983 235.983 231,206 235 943 15.43$ 251.418 246,285 For Iinancial yearending 31 Merth 2024 the ch8rilywo8 tr* e¥amplion frrjm audit undersecbrJn477 of the Compan￿¥ kn12￿6 reL*ti￿9 lo small ¢ompaniEs. Trustees respon$lbilte$'. lal The mgmbers havp wl requlrod Iht d)arfiylo obtaln an oTll¥ loi the year ID que$lbn In ec¢ordan¢e with seclion 476." and Ibl The Iruslees acknowledge lh￿r responS￿lI1e5 forC0m￿￿1n9 ¥￿th fB4Lwremenls of Ihe Act with respEct 10 acGounting reEords and the preparation of Accounts Th$ flnantyalstalèmenl$ hav$ bo8n preparsd atcordancé Iho sped81 provlslons of Pari 15 olthe Companle Act 2006 rBlaiin9 10 small and vAth th8 FInan¢1￿ Reportlng Standard for Smdler Enlllles16lffrctlv8 J8nuary20151. Tho fi1wTh￿al stalernonls wer9 approv8d bylh& Irustoe5 on.. . and wore 116 behalf by". pony Se¢r•lgryand Tiu$t*• H R Mon¢ty- Chaliant1 Tru$l¢6 notss ¢n p8ga8 11 to IS form part of these accountts Page 11 STAFFORDSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES A REGISTERED CHARITY (NUMBER .. 10979741 COMPANYNUMBER 4714026 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDeD 31 MARCH 2024 1 ACCOUNTING POLICIES 8asls of Accoyntlng The a¢¢ounls IFinan¢ial Slatementsl have been pr￿pa￿d under the hlstoilcal cost conv8nllon ￿th Itetns reGtsUn1s￿ at ¢ost or trxnsaction value ynle55 Otherwise 51at8d in th8 IoE8vanl nolelsl to these 8ccounl8. The Financial Statements have been Prepared in accordance with the Stal&m8nt of Recommend8d Practice.. Accounting 8nd Reporting by Charitt8s preparing their accounts in accordance with Ihg Financlal Rgporting Standard applicable In the UK and Ropubll¢ ol Iroland IFRS 1021 and the Financial Reportiry Standard applicable in the United Kingdorn and Republic of Irelané IFRS 1021, the Charities Act 2011 and thè Compan￿$ Act 21KJ6. Fund A¢¢ountlng Restricted Funds Represents funds Sel aside for the Bursaries R8presents accumulated inwme which is expendable al the dlscretlon of the trustees In the furlhoraThce of the objectives of Ihg charity. Such funds rnay b8 held in ord8r lo financ8 both working capital and capital investment. Unrestricled Funds TangSble flxed asset8 and depreclatlon Tangible fixed assets are staled at cost or valualk)n less depre¢¥8￿On. Depreciation is wovided at rates calculated lo writa off ihe cost of fixed assets less th8ir estimated r8sidual value. gV8r th8ir expected useful lives on the following bases:_ Offic8 Equipment- IS% and 250kn reducing balance basis Freehold Property- 2Yo 5trai9ht line ba515- The cost le55 the residual value is d6pr8cialed over th8 U58ful life ol th8 ptoperty. The residual value equates to cost and therefore there is no depr8¢iable amounl and no chargè. Expendlture All expen¢Jilu¥e is accounted for on an accruals basis and has b88n dassified under headings th8t aggr8gate all cosls related to thg ¢a¢egory. Support costs being costs whKh aSS￿St the work ol the tharily and are ther8for8 shown und8r chari¢ab18 a¢bvity eX￿ndIt￿re. See note 13 for breakd(>wn of support costs. On 5 Janltary 2011 lh8 Wl dergglstered fgr VAT. Incomlng R•source8 All Incomlng r850urce5 ar8 included h) Ihg SOFAwhgn th8 Charity18 leg811y entiU8d to th8 inc0ffl8 aad th8 amount can ba quanliffled wth rea8on8ble accuracy. Donatoon of Assets Gifts ol tanglbb a8sgls are In¢luded in these a￿ount$ at an e$timatsd valuation whlch approxirnaios to ¢ost. DonatSons are included in the incorne and expendiluro account a5 such, in the balance sheel under the appropriate heading$. Inve$tment$ Investments are a lorm of basic fin&n¢lal Instrument ale inSllalty recoynised at transaction value and subsequently 1118asur8d al th8ir fair valu8 88 al th8 balanc8 sh8el dat8 using th8 closing quoted market pric8. Th8 stat8rn8nt of Ilnanci81 a¢livllies Indudes the net gains and losses arlsing on revaluation and d1sposals throughout the year. Stock Slo¢k has beèn valued at th6 lower ol ¢o$l and Nèt Roalisablts Valua anil measured on an average ¢osl basis Debtors Debt015 are re¢ognFsod at the settlement amount duè artèr any trado discourtt olfered. Prepayments are valued at the amount prepaid net ol any trade discounts du8. Crodltors Cr8dilors and provisions ar8 recognised wh9rg th9 charily has a pr8senl obligation re5ulliry Irom a past èvont that will probabty result in Ihe transfer of funds to a third party and the amo￿Trt due to s8tlle the obligation can b8 measured or estlrnated rellably. CiedSlors and provlslons are nomially recognlsed at thelr selllem&nt amount after allowlng lor any trade dlscounts due. P8gJ 12 STAFFORDSHIRE COUNYY FEDERATION OF WOMEN'S INSTITUTES A REGISTERED CHARITY (NUMBER .. 10979741 COIIPANY NUMBER 4714026 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Impairmènt of non-flnan¢lal asset Al each ieporting date non-financial asseis not eariied al fair value. like tangiblè fixed 8sseis. are review8d to d&t6rmir* whether there is an Indlc8lon th818n ass81 may bg impairgd. If thor• Is an Indl¢aiion of possiblg impaiimeni, the r&wv8rabkg amaunt of any a55el orgrwp of relaled assets. whith is the bighèr otvalu8 in use and the fgifvdlué ltrss cost to sell, is 85limaied and cornparèd ￿1h Ils cariyin9 amount. Wlhe recoveTabl8 amount is bw8r. the c8rrying atTKXJTht of tha 88s81 is reduced to Ily r8coverable amounl and an impairmènt loss Is r8c¢gnSsed Immedlalgty Ihe statemènt of financial posiuon. Sloo* is also ¥s$essed for impBirmeni at &a¢h roporting date. The c8rrying amount of 8ach I18m of slodf, QT 9roup of ￿M￿lar Items. 15 compared w￿1h ils ¥elllng prfce kes$ cosls to complete and sell. If an filem of stock Or group of 8imllar Items B impaired. ils arrying afflount is reduced lo selling prke less Gosls lo compl&t8 and sell. and an impaiitnenl loss is I8￿gnIsed imrnedialely in the slalemènt of fin8n¢i81 aclivities. If an impairment loss Is subsequently reversed, the carryirvj amDunl of the asset or group of related 88s61s is irKreased to th8 Is8d e$tim818 of its recovergble atnounl, bul not to exceed fft8 wnounl th81 W￿ld hav8 been delefmknfyd had no impalrmenl less been recognised for lh8 aSsÈ1 orgroup ol related asse15 ITh prior per￿s. A r8v&rsal of an impairrnenl loss is rè¢ognlse Imrnedlatglv In Ihe slai8m8nt olffnanlcal 3CtivlliBs. Pothslon Costs and oth0r post-rotlromènt bon8ffts The Charity operale8 3 definèd conlribution penson scheme. Conlribulion8 payable lo the ¢harill5 pension sd*m8 are charoed lo thfr SOFA in the period to wNth they rolale. Bursarl88 Bursaries are paid out of restrlctèd knnds reserved for Ihi5 pu￿(>5¢. 2 TANGIBLE FIXED ASSETS Fro•hold Prope Offlce Equlpment Total Cost orvaluation At 1 Aprll 2023 Addlllons DSsposals 115.000 4.570 1,410 119,570 1,410 At 31 March 2024 115.000 5.980 120,980 Doprg¢1otlon At 1 April 2023 Charge for Ihe year Elimlnated on dl$posal 2.998 2,998 At 31 March 2024 3,382 3.382 Nèt Book Valu8 At 31 March 2024 115.000 2,597 117,597 At 31 March 2023 115.000 1,572 116,572 The Iru51ees believ8 th8 ¥alu& of freehold propety 1$ gmter Ihan £115.00012023.. £115,OLM)l. On Ihks basr3 Ihg fr8èhold property has nol beèn revalugJ. Pa9613 STAFFORDSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES A REGISTERED CHARITY (NUMBER- 10979741 COMPANY NUMBER 4714026 NOTES TO THE FINAN¢iAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 3 FIXED ASSET INVESTMENT5 2024 Unrestrlcted Funds 2023 Unro$trlcl8d R￿l[l¢￿d Fund$ Fund$ Restrlcted Fund$ Unht Trust & LS$ted In￿SIm?11tS Market valu8 at 31 March 2023 Add.. Aildllons lo inv8slm8n15 al Gosl Less.. Di5posal$ at Carrying valuo Add: Interest received Add- DivKlends received Less: Investor Charges L•$s: Net Galnlllossl on revalua￿On 89.401 10,064 91.064 10,045 994 2,002 18671 4,619 52 706 1.715 18351 3,249 19 Markot Valu8 at 31 March 2024 96.149 10,115 89.401 10,064 Cash held lor r8inve5tment lincluding dividÈnds & intÈrest receivedl Total Value at 31 March 2024 98,149 10,115 89.401 10.064 4 CLASSIFICATION OF PORTFOLIO 2024 Unre8trlctèd Funds % 2023 Unrestrlct8d Rostflcted Fund$ % Fund5 R•$trlcted Fund$ % UK Loan Stock Unit Trusts Income eonds 10 100 100 90 100 90 100 100 100 S EMPLOYEES REMUNERATION 2024 2023 Gross Salary 25,476 23.566 Pension conlribution$ 816 388 Ernpby8r5 Nl 26,292 24,012 No employee earned £60,000 pa of more. The avorag& numb8rof paid staff for th8 y8arwa5 2. 12023-. 21. Pagg 14 STAFFORDSHIRE COVNTY FEDERATION OF WOMEN'S INSTITUTES A REGISTERED CHARITY (NUMBER .' 10979741 COMPANY NUMBER 4714026 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAR¢H 2024 6 TRUSTEES REMIJNERATION AND EXPENSES No remunerat1￿ dlreclly or indirectty out of Ihe funds of th& chaiitywas paid w payable for Ihtr year to any Iruslee or to ony per50n or pèrsons known lo be connecled wilh any ofthom. There has been re-ImbursÈrr*nt of èxpenstrs lo 5 INst8es durfno Ihe year totallirvJ £3,52412023.. £3.2131 whiGh rdaies lo atcemmodalion and travel. Dur￿0 Ihè year Ih?r8 was an hL￿arariuM pakl to the Chair and the Company Se¢Ygtary, were both trustees. They both received £700 eaGh during lh& year. 7 CREDITORS 2024 2023 ResèNed Irrceme PAYE A¢crua15 olher creditors 18.308 7,919 3,233 6.679 3.102 4,777 28,220 15.198 Incorng has ￿tn rès&￿ed wh8r8 monles have been rec*ved in advarte of events that are due to lak8 place after the year end. Th8 correspondiTvJ Go$i$ havo been prepaid and are inoluded in debtors. FUNDS UnTestride Fund$ At¢umulatsd Funds R•strl¢tsd Fund5 Bursary Funds 2024 Total 2D23 Total Income Indl¥eci Expenditure 78,721 3,610 75.111 78.365 3,610 74,755 356 70,940 4.073 66,868 356 Optnkng Valu8 of F￿dS 246.285 231,206 16.079 248,979 Transfer frorn general fund Adlu8tmenl In respgcl of pre￿0￿9 years Gains I Ik)ssesl on Investment 8550ts R&8lls8d Vnrealised 4,619 4,619 4,619 4.619 13,249 13,2491 Charilable ExpérKJllure Managetngnl aTrd admlnL8tratiors 74.596 74,596 66,312 74,596 74.596 66,312 Closing VobJe ol Fund& 251,41 235,983 246.2 The RestrKted Funds are there ￿￿yfOr provKJlrwJ trAJrsaries. Applications èr& r•￿eWed and bursori¢5 aro [x0￿ded puroty at the dI￿re11￿ of the Trustses of Stsflord5hire County Federalbn of Women¥ In51itutes. PHge15 STAFFORDSHIRE COUNTY FEDÉRATION OF WOMeN'S INSTITUTES A REGISTEREO CHARITY INUMBER .. 10979741 COMPANY NUMBER 4714026 NOTES TO THE FINANCIAL SYATEMENTS FOR TME YEAR ENDEO 31 MARCH 2024 9 NET INCOMING RESOURCES 2024 2023 N81 Incomkng rtrsour¢8s for the year are Èlated aftèr eharglng.. Ind8ptndenl examine￿ lee Dapreaatlc￿ of tangible frxed assel5: Owned ass818 3,000 2.773 384 410 10 TAXATION The ¢h8rf1y Is exempl Irom tsx w income gnd gains fa111ng %￿thIn secllon 505 01 Ihe Taxe8 Act 1988 or 50cllon 252 ofihe Taxatlon of Chargeable Gains AGI 199210 8xienl Ihtrt Ih8se are applied to ils chgril8ble objects. 11 CONTROLLING INTEREST Charity Is underth8 control ol Ihe Trusleg5. 12 OPERATING LEASE COMMITMENTS 2024 2023 Lease wi)milmenls commited to be paid within 1 ytrar Lgage comtnlltnetts ¢ommiiÈd to be pald ￿thIn 1-5 year8 2.065 163 2,288 3,479 2.228 5,767 13 SUPPORT COSTS 2024 Charitable ActIvIt￿5 2023 Charltabl& Activltlès Support ¢08t Wages Tiusle& & Sub-CtynTniltee Expenses Informallon Technolqy Property expenses Gènéral offic8 axpendilure Trainknu Bank chargÈ$ lThlependenl Examinatiot) 26,292 5,331 4,612 8,183 8.743 24.012 4.957 4,966 3,015 8,097 170 1.539 2,773 1,497 3,OLX) 49.528 14 BOARD OF TRUSTEES Expond5tur8 2024 Income 2023 2024 2023 Closed Wl's Membership awards nnual meetings Cullural eveni& 3.963 146 80 240 313 74 635 413 1.073 413 1.386 4,672