THE CAMBRIDGE FEDERATION OF WOMENS ￿sT￿T[TrEs FINANCIAL STATEMENTS FOR THE YEAR ENDED 3 1ST DE￿MBER 2023 CONfENTS AND COMPANY tNFORMATION coKrENTS.. PAGE.. Committ¢¢ Report tnd¢pendent Exan]Èners Report Statement of FiDaticial Activiti65 BdaL]c¢ Shvt Statement of Cash Flow5 Notes to the Financial Statements 8-12 Mrs S Smales VICE-CHAtR.. Mrs L Challands K Baldwin TREASURER.. Mrs V RidgTrw) . BOARD OF TRUSTEES.. Mrs L lieech MTS C WN'lde Mr5 J Sparks (to 2nd October 202i) Mrs J C&sey Mr5 .4 Bullman (to 25th April 2023) Mr5 E Bailey Mrs D M Oakley FEDBRATION SECRETARY.. Mrs H Comiskey ADMINISTRATIVE ASSISTANT.. PRtNCtPAL OFFICE.. WIOffi¢¢ Oa￿tng￿ll Road Girtoll Cambridge CB3 OQH COMPANY NUMBER: 4811643 1099519 INDEPENDENT EXAMINERS.. lan W Shipley FCCA For and on behalf ot. Prentis & Co LLP Chartered Accountants 115¢ Milton Road Cambridge CB4 IXE BANKERS.. The C(ioperaiiYe B￿￿￿. PLC Business Direct BrarLch PO Box 250. SkeimetEdale WN8 6WT SatLtrdnder UIC PI¢ Bridle Road Bootle Mer5eyside L30 4GB THE CAMBRIDGE FEDERATION OF WOMENS INSTITtrrES PAGE I FNANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBEK 2023 COMMITTEES ANNUAL BIPORT The committe¢ preseryi th¢ir anllual report fi)T The Callthridge F¢d¢THtiou of Wowen's h￿tl￿teS forth¢ 5faT ended 315t De¢eTllE*r 2023. The fmaucial ststements comply with the Cbarities Act 2011, thc Companies Act 2006, th¢ Mem(>randum 2nd Article8 of A3sociatioD, aud Aecounting and Reporting by Charitie5'. Slatementof RecoEDmended Prdctice applic&ble to cTrwitie8 prep￿1￿8 their accounts in accord8nce with the Financial RqM)rtiDg Stslldard applicable in the UK arKI Republi¢ of Ireland (FRS 102) leffeetiv¢ 1st January 2019). STRUCTURE, GOVERNANCB AND MANAGEMENT GOVERMING DOCU.IIEhry The Federati¢￿ roDstituted iti accord8[￿ with the.Model COn￿il￿￿on a[￿RuleS a5 agrttd by NatiODal Federation of WoTnen'5 lE￿tit￿eS Annual Gen￿al Meeting. The Federntiijll is a rtharitable company limited by gu8r2ntee, incorporated on 26th June 2003 aTdTegi5tered &8 a Ch￿￿ty on 18th SeNember 2003. The ￿allY established under a Men)orgndwll of As50ci&tion which established the objects and powets of the cbaritable coTnparLy and is governed UTLdeT its Arti¢le$ of A￿￿latIon. AppoIwfMENT OF b£4NAGEh￿￿ COMMtrrBE The directors of tbe company are also chkrity Ttt￿e￿ foT the pur[&￿¢ of charity ]AW and U[￿er the compauies articles are known as MeD]bers of the Board of TTUStees. Under the reqUire[￿t of the Memordndum Articles of Association tbe memb¢T5 Qf the Board of Tft￿eS are llo￿1￿ated aud ¢lxted by th¢ w¢rnber5 of Tht Cambridge Federatioo of Women's Instiknrtes on a 2 year basis. The Board of TTUSt¢es consists of 9 members. The board ar¢ ¢mpDwered to Co-opt up to 3 mellth¢rs rfso desired. RISK hIANAGEMENT The cotnmittee bave examined th¢ nwjor strategic, business and operntiona] risks the Federation faces confnin that 5}'Stert￿ bave been estsblished to enable regul&r re￿rts to be produced so that necessary steps be taken to l¢ss¢u those risks OBJECTIVES AND AcfivIT The objerts of the Federation were as follows: a) to improve and develop thc condition of wi)rnen's lives and to advance their ¢th￿ation in citit£nthp. inpublic affa￿S both national and SDternational, in the ths and iti science. b) to facilitste training iti all branebes of hom¢ ¢￿10Ml¢S and DwJageD)¢nL he41ii wial w¢]fare, the arts and science. To give all wojnen the oppOrtt￿ty of wor&ing together through the Wojnell's ItL8tibJte's organi&*1￿￿ alld putttDg i￿0 practice these id¢a5 for whiGh 1¢ staud5. The Trustees have con5id¢r¢d guidance pubLisbed by the C￿￿TIty Commission on public knefit attd consider the ch￿]￿S activities are itt accordatscc witb that guidJn¢¢. ACFllEVEMENT& PERFORhL4NCE AND PL.BLIC BEN'EFrr A year without aTJy Govid restrictiODS gay¢ m£￿b¢r5 a lot tnore confidenc¢ to g¢t out abimjt and join in CFWI activities. We put on over 30 different events in 2023, iDcluding thre¢ VErypopular coach trÈps. Altnost all th¢ everlts were financiaIly su¢c¢ssfvl alld provided & surplu5 for the Federation. We supported the NFWI 'Clean Rivets, resolution and continucd to knitblaLkets for charity. Our Annual Council Meetujg in April w&4 well attended and we sent 12 dElegates to the NFWI Annual Meeting in Cardiff in.May. Two Board members stood domv this Ye￿ and we welcomed four members to our subComr￿. Membership nutnbers were sllnilar to lastye8r, and the subscriptioll level lE￿reaSed by 50p per member. WE Suspended one Wl, wbi¢h takes our Dumber of Wl's at the end of 2023 to 52. We were fortsmate to benefit from genemus rnemE*r donatioDs this year. THE CAMBRIDGE FEDERATION OF WOMENS INSTITUTES PAGE 2 FINANCIAL STATEMENTS FOR THE YEAR ENDED 3 1ST DECEMBER 2023 COMMITfEES ANNUAL REPORT.......Jwntillued PLANS FOR THE FufuRE We will continue to provide a varied programnK of events lo ¢nt¢rtsiu our ￿￿T￿bErS and raise fi]nds for the Federation. We have invesÉigaled Gift Aid but the numb¢r of de¢latation fonlls submitted by mernb¢r5 w&$ low. We will Continue to review. but will rGintroduce a difftrential pricing rM)licy for events for no]l-m¢mber5. rather than piogtess Gift Aid in 2024. We will rull training courses to supwrt Wl5. The Federdtion portion of the membership Sub￿riptiOn will iticre&%e by 50p this ye4r. We aro not expecting lo uudertae any major work5 to the office. We are, bowever, Ca￿]ng out areview of the building. wbich may result ID Soll￿ maiDtoonce w0￿S and we are awote that the slw¢d drive wlll require &lditional grayel. KEY MANAGEMENr The directors consÈder that the board of diTe¢tors. wlLO are the Charitys Th￿te￿ compri% the key manag¢mEnt personnel of th¢ ¢baTity in charge of directing, controlling, Twning and opeTatitig the Fthion ou a day to day basis. All trngt¢es give theii time freely and no dirE¢tor receivcd ren￿ll￿ratIOn in the ye￿. TRUSTEES INDUCTION AND TRAtNNG Trustees training is proNided free of cbarge bythc NationAI FederntÈon of wfs provide belp alld adiryce on ao ongoing basis. The whol¢ Board recgive this trBining during elecrion year. Ongoillg traiuing is provided as required. FINANCIAL REVIEW AND RESERVES POLICY The Fpderation showed a surplus of ￿.749 (2Q22.. deficit of £15.619). This can be attributed to severdl factQTS- membeL3 growing coufjdence to get oui and about aDd 5upW our programme of events, generous Jnember donations and aD increase ID income from $ubscriptions. Also, we continu¢ to save EDoney by operattng withou¢ an administr8tive LssistaDt. Wc Tcly heavily orA a volunteer helper and will continue ￿ review th¢ Stst￿g situation thToughout the year. The Trust¢e$ regularly review and agree tbe level of reserves the Federatiou bolds. The Trustees aim to have sufficient reserves to meet a year of expendltL￿e and oth¢r ¢OmTllithiellts. To fulfil this ￿l1¢Y￿e Trll5tees consider it nK¢$sary to hold aroulld £IOO,000. Currcntty the Federation holds £89.845 {2022.. £78.149) ill frtt reserves and would expect to meet its tsrg¢t through an accumulated Surp1￿8 of the Th¢x¢ coupl¢ oFye4ts. The total fimds of the charity at the end of th¢ ye were £427,822 (2022: £424,073). D¢8EgtiatEd funds of £20.(M)0 {2022.. £20,000) are obtftll)ed for major ttP￿r works to the office buildin4 which Is reviewoj regularty. RELATED PARTIES AND CO-OPERATION WITH OTHER ORGANISATIONS None of our Trns¢e¢s rec¢ived remuneration or other t￿efit from tbeir WOTk for the clwity. They are reiEDbursed costs, such as traveL that they incur wholly tti the Course of caThyu)g their duties. The Feder*ion is affiliated to th¢ National Federation of Wl's who proYid¢ beip aud thice. Individu￿ Federations within the Cambridge areapay affili&tioll fees to the F¢deTatio￿ wbo in turn pay affiliation fees to the National Federatiou of WVS. PAY POLICY FOR SENIOR STAFF The senior staff of thc Charity consist solely of the Tnjstees who give their time for free. TRUSTEES The TnbStees who sttved dwiDg the year Jr¢ as follows:_ Mrs S s￿ales (Chair) Mrs L Cha]lattds Ivice Chair) Mrs K Baldwin (Vice Chair) Mrs V Ridgman (Tre&8urerl A BU1]ll￿ (to 25th April 2023) MES C Wylde rs LNecch Mrs J c￿eY Urs J SpaTk5 (to 2nd October 2023) Mrs E Badey Mrs D M O&kl¢y THE CAMBRIDGE FEDERATION OF WOMEN'S INSTfTUTES PAGE 3 FfNANCtAL STATEMENfs FOR THE YEAR ENDED 3 1ST DECEMBER2023 COMMITfEES ANNUAL REPORT.......Jcontinu Many of our events and medings are'open" and can therefoT¢ be attended by men and womeJL m¢mbers andnon.memb¢rs. Therefore, in accordance with our constitu110￿ we have lxnefitted a significant section ofthe public, PTovidittg ¢ducatio support and iTnprov¢d welfare for all wome We have Teferred to th¢ guidallce contaiDed in the Ch8rity CommiS￿n.S general guidatK¢ OnPLtbIic benefit when reviewing our aims obj¢ctives and in plaDning our fvture acthvities. TRUSTEES, REPONSIBILrriES tN RELATION TO THE FINANCIAL STATEM8NTS The charty Tn4stee5 (who are a]so tbe direttors of The Cambridge Fgl¢ration of Wornen's Institutes br the purrM)8es of ¢onwany law) are responsible for Preparing a Trust¢es' YDuual report and financial statements in accordance applicable law and Utiited Kingdom A￿OU￿till8 Stsn¢Jards (United KingdoTD Gelletally Accepted Accounting Pr￿U¢£I. Compw law requires the tharity Tru5fe¢s tttr prepare financial sthtC￿ertts for each year which give ¥4 twe and fair view of the sthte of affairs of Èbe ¢harithble COD]pw and of the incomxng resources and appIl￿tiOn of resources. including the income and expellditUTe, of the charity for that perio(L ID preparing the fjnallcial statements. the tr￿teeS are required to: sel¢¢t suitable awjunting polieies and then appty them consis*￿y,. observe th¢ m6thods and prin¢iple5 in th¢ ChaTiti¢3 SORP: judgements estimates that are t￿Ollab]e and p￿deutr, • state wheÉher applicable UK ac£4)unting stalldards bav¢ l*en followe