REGISTERED CHARITY NUMBER: 1167199
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 August 2021
for
The Middlesex Federation Of Women's
Institutes
Merchant & Co
Chartered Certified Accountants
20 Exhibition House
Addison Bridge Place
London
W14 8XP
The Middlesex Federation Of Women's
Institutes
Contents of the Financial Statements
for the Year Ended 31 August 2021
|
Page |
Reference and Administrative Details |
1 |
Report of the Trustees |
2 to 5 |
Independent Examiner's Report |
6 |
Statement of Financial Activities |
7 |
Balance Sheet |
8 |
Notes to the Financial Statements |
9 to 18 |
Detailed Statement of Financial Activities |
19 to 20 |
The Middlesex Federation Of Women's
Institutes
Reference and Administrative Details
for the Year Ended 31 August 2021
TRUSTEES |
Mrs S Endersby |
|
Mrs L Reed-Wenman |
|
Mrs S Whitworth (resigned 9.9.20) |
|
Mrs J Bloomfield (resigned 31.3.21) |
|
Mrs J Hall (resigned 31.3.21) |
|
Mrs A Fremantle |
|
Mrs A M Chessman |
|
Mrs Y McBride |
|
Mrs M Gordon (appointed 25.9.20) |
|
Ms E Watson |
|
Mrs J N Lewis |
|
Ms J Treeves (resigned 21.10.20) |
|
Ms H McIntyre (appointed 20.10.21) |
PRINCIPAL ADDRESS |
3, 7B The Green |
|
West Drayton |
|
Middlesex |
|
UB7 7PL |
REGISTERED CHARITY NUMBER |
1167199 |
INDEPENDENT EXAMINER |
Merchant & Co |
|
Chartered Certified Accountants |
|
20 Exhibition House |
|
Addison Bridge Place |
|
London |
|
W14 8XP |
BANKERS |
Barclays Bank UK Plc |
|
53 The Broadway |
|
Ealing |
|
W5 5JS |
Page 1
The Middlesex Federation Of Women's
Institutes
Report of the Trustees
for the Year Ended 31 August 2021
The trusteespresenttheirreportwiththe financialstatementsof the charityforthe yearended31 August2021. The
trusteeshaveadoptedthe provisionsof AccountingandReportingby Charities:Statementof Recommended Practice
applicableto charitiespreparingtheiraccountsin accordancewiththe FinancialReportingStandardapplicablein the
UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
TheWomen'sInstitute(WI)isrecognisedasaneducationalcharitywithmembersalsoveryinvolvedwiththeir local
communities.
Public benefit
TheWIisrecognisedasaneducationalcharitywhichadvancestheeducationofwomenandalso promotes
sustainabledevelopmentforthepublicbenefitbysucheducation,withmembersalsobeingencouragedto be
involvedwith their local communities.The Board of Trustees, a Membershipsub-committee,a Craft sub-committee, a
LeisureandSciencesub-committeeandaMembershipCommunicationco-ordinatorprovidetraining and
administration for our members.
We have compliedwith the dutiesin section17 of the CharitiesAct 2011 to have regardto guidancepublishedby the
Charity Commission, including public benefit guidance.
Page 2
The Middlesex Federation Of Women's
Institutes
Report of the Trustees
for the Year Ended 31 August 2021
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Keyachievementsin2020/21havebeencurtailedduetothecontinuingCovid19pandemic.ManyofourWIs have
beenunabletomeetfacetofacesinceMarch2020.WehaveencouragedtheWItrusteestocontact members
regularly,toholdmeetingsintheopenandusingelectronicmeanssuchasFaceTimeandZoom.Atthestartof the
financialyear2020/21,we wereonceagainfacingsevererestrictionsonfacetofacemeetings.As suchourability to
visitWIs was severelylimitedduring2020/21.ThiscontinueduntilJune2021whensome WIs beganto meet in open
spaces.
Detailed cash flow scenarios provided by our Treasurer are a continuing part of our Risk Plan.
Wecontinuetoproduceournewsletter'TheMiddlesexNews',andweareutilisingMailchimp(FOC)tosend out
copiesto allof ourmemberswhohavean emailaddressregisteredon the MembershipCommunicationSystem. We
alsoheldZoomsessionsforallof ourmembersto attendtwicea monthfromSeptember2020- June2021to ensure
we maintained a line of communication.
We havecontinuedto increaseourutilisationof socialmediathroughouttheyear,focusingondifferingplatforms to
addressthedemographicoftheareawecoversuchasTwitterandInstagram,andcontinuetohaveapresence on
FaceBook
UsingZoomtheDigitalteamcontinuedtoofferonlinetrainingsessions,assistingourmemberstousevarious media
streams to stay in contact with both family and friends.
TheCraftcommitteehaveofferednumerousZoomsessionsforcraft,andtheKnitandNattergroupcontinues to
proveverypopularwithourmembers.We feltit was importantduringthelockdownperiodto giveourmembers an
opportunityto meet up,albeitdigitally,withfriends.The annualCraftFayreheldin the Cow Byre Ruislipwas held in
August 2021, and attracted a number of new membership enquiries.
InlightoftheCoronaviruspandemic,thePublicAffairscommitteecontinuedtofocusourattentionon supporting
membersandtheirlocalcommunitiesthroughthisuncertaintime.Wearealsoactivelycampaigningon Climate
Change and the plight of 'modern day slavery'.
The ScienceandLeisuresub-committeeactivitieswere adverselyaffectedby Covidrestrictionsbutwe willregroup as
restrictions are lifted.
OurMiddlesexFederationoftheWomen'sInstitute(MFWI)AnnualCouncilMeeting(ACM)washeldonZoomon 9
September 2020.
Middlesex Federation held its Annual Council Meeting on Zoom on 22 July 2021.
The National Federation of the Women's Institute (NFWI) ACM was held on Zoom on 8 June 2021.
FINANCIAL REVIEW
Financial result and Reserves Policy
Thecharityhasanetsurplusof£13,960(2020£27,226)ofwhich£13,959(2020£26,398)wasderived from
unrestrictedreserves,and£1(2020£828)fromrestrictedreserves.Subscriptionscontinuetobethemainsource of
income beside the rent income.
Theunrestrictedreserveswhichcanbeappliedtothegeneraloperationofthecharitystandat£290,715 (2020
£275,612), the restricted reserves stand at £3,536 (2020: £4,679).
Reserves policy
Thetrusteesconsiderthatthecharityshouldholdatleast£46,000tocoveremergencies,beingapproximately 12
monthsregularexpenditure.Some of these may be neededto offsetanyreducedincomefrom fallingmembership in
order to fund the administration of the office.
We are still aware that it may be necessary to incur legal costs in renewing the lease for No 2.
Reservesarelikelytodecreaseinthenextfewyearsasourmembershipisreducing,andtheplanned centenary
celebration is going to be self-funded.
Page 3
The Middlesex Federation Of Women's
Institutes
Report of the Trustees
for the Year Ended 31 August 2021
FUTURE PLANS
Ourmembershipyearwasextendedfor3 monthsuntilendMarch2021.Thisgaveourmembers15monthsfor the
priceof12.Thenewmembershipyearwillnowrunfrom1stApriluntil31stMarch.Ourmembershipnumbers are
only slightly down from the previous year, and continue to grow month on month.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Thecharityiscontrolledbyitsgoverningdocument,itsConstitutionasaCharitableIncorporatedOrganisation (CIO)
andtheRulesforFederationofWomen'sInstitutes.Bothofthesegoverningdocumentswererevised27th March
2021 to reflectnew ways of holdingmeetingsdigitallyandto includethe individualWI's optionto be flexibleon their
share of the subscription fees.
Recruitment and appointment of new trustees
MiddlesexmembersnominateuptotwelvememberstotheBoardtoserveasTrustees;co-optionsmaybemade if
requiredduringtheyearwiththeelectionofsuchco-optedtrusteesbeingratifiedatthenextAnnual Meeting.
Electionsfor Board members are held every three years.All Trustees work in a voluntarycapacity.The Boardmeet up
to eleven times during the year, plus one special meeting to elect officers and formulate policy.
At the beginning of the financial year in September 2020 the board of trustees comprised
Mrs Lorraine Reed-Wenman, Chairman
Mrs Jules Hall, Vice Chairman resigned 31/3/21
Mrs Sarah Endersby, Honorary Treasurer
Other committee members were:
Mrs Julie Bloomfield resigned 31/3/21
Mrs Alison Fremantle
Mrs Angela Chessman
Mrs Yve McBride
Mrs Susan Whitworth resigned 09/09/20
Ms Emma Watson
Mrs Julia Lewis
Mrs Jill Treeves resigned 21/10/20
TheTrusteesappointuptofourofficersfromtheirnumber:Chairman,HonoraryTreasureranduptotwo Vice
Chairmen
During the financial year the following was co-opted
Ms Michelle Gordon (October 2020)
Page 4
The Middlesex Federation Of Women's
Institutes
Report of the Trustees
for the Year Ended 31 August 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
TheMiddlesexFederationcomprisesof44Women'sInstitutebranchesthroughouttheformercountyof Middlesex
and Greater London.
EachWIisresponsibleforrunningitsownmonthlymeetingsanditsfinances,mostWIsbeingregistered individually
withtheCharityCommission.Therewere1326fullypaidupmembersattheendofAugust2021.AllWIsarepart of
the National Federation of WIs and are encouraged to take a full part in their activities.
Fundingmainlycomesfromsubscriptionsanddonations.Trusteesandsub-committeemembersarepaid travelling
expenses.
WeownthebuildingatNo2theGreen,WestDrayton,whichwasourformeroffice.Wenowleasethisto a
neighbouringDoctors'Practiceandwe renta unitat No7 theGreen,WestDrayton.We buildupourreserveswith a
surplusinrent.TheleaseforNo2TheGreeniscurrentlybeingheldoveratthepreviousrent,advicehaving been
soughtfromasurveyortoensurethattherentbeingaskediscomparabletothecurrentmarketrentsforthe area.
The leaseforNo 7 was renewedin 2016on a 5-yearterm.The leasewas renewedIn January2021foroneyear, with
an option to extend.
We continue without a Federation Secretary, which has been the case since April 2020.
Approved by order of the board of trustees on 19 January 2022 and signed on its behalf by:
Mrs L Reed-Wenman - Trustee
Page 5
Independent Examiner's Report to the Trustees of
The Middlesex Federation Of Women's
Institutes
Independent examiner's report to the trustees of The Middlesex Federation Of Women's Institutes
I reportto the charitytrusteeson my examinationof the accountsof The MiddlesexFederationOf Women's Institutes
(the Trust) for the year ended 31 August 2021.
Responsibilities and basis of report
AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsinaccordancewith the
requirements of the Charities Act 2011 ('the Act').
I reportin respectof my examinationof the Trust'saccountscarriedoutundersection145 of the Act andin carrying
out my examinationI have followedall applicableDirectionsgiven by the CharityCommissionundersection 145(5)(b)
of the Act.
Independent examiner's statement
I havecompletedmyexamination.I confirmthatnomaterialmattershavecometomyattentioninconnection with
the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Ketan Ramesh Patel FCCA
Merchant & Co
Chartered Certified Accountants
20 Exhibition House
Addison Bridge Place
London
W14 8XP
19 January 2022
Page 6
The Middlesex Federation Of Women's
Institutes
Statement of Financial Activities
for the Year Ended 31 August 2021
Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
40
Charitable activities
Educational activities
13,889
Other trading activities
3
4,566
Investment income
4
15,266
Total
33,761
EXPENDITURE ON
Raising funds
5
2,748
Charitable activities
6
Educational activities
3,252
Other
13,802
Total
19,802
Net gains on investments
-
NET INCOME
13,959
Transfers between funds
16
1,144
Net movement in funds
15,103
RECONCILIATION OF FUNDS
Total funds brought forward
275,612
TOTAL FUNDS CARRIED FORWARD
290,715 |
Restricted
funds
£
-
-
-
1
1
-
-
-
-
-
1
(1,144)
(1,143)
4,679
3,536 |
2021
Total
funds
£
40
13,889
4,566
15,267
33,762
2,748
3,252
13,802
19,802
-
13,960
-
13,960
280,291
294,251 |
2020
Total
funds
£
11
16,793
7,788
15,298 |
|
|
|
39,890
5,773
3,754
18,137 |
|
|
|
27,664
15,000 |
|
|
|
27,226
- |
|
|
|
27,226
253,065 |
|
|
|
280,291 |
CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
Page 7
The Middlesex Federation Of Women's
Institutes
Balance Sheet
31 August 2021
Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
11
608
Investment property
12
200,000
200,608
CURRENT ASSETS
Debtors
13
1,851
Cash at bank
93,205
95,056
CREDITORS
Amounts falling due within one year
14
(4,949)
NET CURRENT ASSETS
90,107
TOTAL ASSETS LESS CURRENT LIABILITIES
290,715
NET ASSETS
290,715
FUNDS
16
Unrestricted funds
Restricted funds
TOTAL FUNDS |
Restricted
funds
£
-
-
-
-
3,536
3,536
-
3,536
3,536
3,536 |
2021
Total
funds
£
608
200,000
200,608
1,851
96,741
98,592
(4,949)
93,643
294,251
294,251
290,715
3,536
294,251 |
2020
Total
funds
£
729
200,000
200,729
1,063
82,640
83,703
(4,141)
79,562
280,291
280,291
275,612
4,679
280,291 |
|
|
|
|
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon19January2022 and
were signed on its behalf by:
L Reed-Wenman - Trustee
S Endersby - Trustee
The notes form part of these financial statements
Page 8
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements
for the Year Ended 31 August 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsof thecharity,whichis a publicbenefitentityunderFRS 102,havebeenprepared in
accordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicablein the UK and Republicof Ireland(FRS 102) (effective1 January2019)', Financial
ReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the
CharitiesAct2011.Thefinancialstatementshavebeenpreparedunderthehistoricalcostconvention, as
modified by the revaluation of certain assets.
Income
All incomeis recognisedin the Statementof FinancialActivitiesoncethe charityhasentitlementto the funds,
it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement
andtheamountof theobligationcanbe measuredreliably.Expenditureis accountedforonanaccruals basis
andhas been classifiedunderheadingsthataggregateall costrelatedto the category.Wherecostscannot be
directlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwith the
use of resources.
Tangible fixed assets
Depreciationis providedat the followingannualrates in orderto write off each asset over its estimated useful
life.
Fixtures and fittings- 15% on reducing balance
Investment property
Investmentpropertyis shownatmostrecentvaluation.Anyaggregatesurplusordeficitarisingfrom changes
in fair value is recognised in the Statement of Financial Activities.
Taxation
The charity is exempt from tax on its charitable activities.
Debtors
Tradeandotherdebtorsarerecognisedatthesettlementamount.Prepaymentsarevaluedatthe amount
prepaid.
Cash and cash equivalents
Cashandcashequivalentsarerepresentedbycashinhand,depositsheldatcallwithfinancial institutions,
with insignificant risk of change in value.
Creditors
Liabilitiesandprovisionsarerecognisedwhenthereis anobligationattheBalancesheetdateas a resultof a
pastevent.Liabilitiesarerecognisedattheamountthecharityanticipatesitwillpaytosettlethe debt.
Provisions are measured at the best estimate of the amounts required to settle the obligation.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
continued...
Page 9
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2021
1. ACCOUNTING POLICIES - continued
Fund accounting
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.
Going concern and effect of Coronavirus epidemic
Thefinancialstatementshavebeenpreparedonthebasisofgoingconcern.Duetothehighlevelof reserves
there are no material uncertainties regarding going concern for the next 12 months.
2. DONATIONS AND LEGACIES
3.
4.
Donations
OTHER TRADING ACTIVITIES
Publications
Subcommittees' activities
Special efforts and other activities
200 Club
ACWW Charity collections
Conference income
Pooling income
Insurance
Events income
INVESTMENT INCOME
Rent receivable
Deposit account interest |
2021
£
40
2021
£
887
142
834
1,350
240
-
-
785
328
4,566
2021
£
15,000
267
15,267 |
2020
£
11
2020
£
1,480
1,442
586
1,512
55
385
18
775
1,535
7,788
2020
£
15,000
298 |
|
|
15,298 |
Investment property held for use in Operating Leases (as Lessor):
The future minimum lease payments receivable under non-cancellable leases for the following period are:
|
2020 |
|
£ |
No later than one year |
15,000 |
continued...
Page 10
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2021
4. INVESTMENT INCOME - continued
Thecharity'sfreeholdpropertyat2TheGreen,WestDraytoncontinuestobeletonanoperatinglease with
effect from 1 September 2016.
In the absence of a new signed lease, the table above assumes an expiry date of 31 August 2022.
5. RAISING FUNDS
Raising donations and legacies
Raising donations and legacies |
|
|
|
2021 |
2020 |
|
£ |
£ |
Publications |
147 |
877 |
Subcommittees' activities |
340 |
773 |
Special efforts and other activities |
834 |
193 |
200 Club |
1,075 |
1,477 |
Denman Bursaries |
- |
143 |
ACWW Charity appeals and donations |
240 |
55 |
Conference expenditure |
100 |
316 |
Events expenditure |
12 |
1,939 |
|
2,748 |
5,773 |
6. CHARITABLE ACTIVITIES COSTS
6. |
CHARITABLE ACTIVITIES COSTS |
|
|
|
Support |
|
|
costs (see |
|
|
note 7) |
|
|
£ |
|
Educational activities |
3,252 |
7. |
SUPPORT COSTS |
|
|
|
Governance |
|
|
costs |
|
|
£ |
|
Educational activities |
3,252 |
continued...
Page 11
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2021
8. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31August2021norforthe year
ended 31 August 2020.
Trustees' expenses
Trusteestravelexpenseswerereimbursedto2 (2020:9) trusteesintheyearended31/08/2021amounted to
£252 (2020: £1,138).
9. STAFF COSTS
Wages and salaries
The average monthly number of employees during the year was as follows:
Administration
No employees received emoluments in excess of £60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
11
Charitable activities
Educational activities
16,793
Other trading activities
6,965
Investment income
15,293
Total
39,062
EXPENDITURE ON
Raising funds
5,773
Charitable activities
Educational activities
3,754
Other
18,137
Total
27,664 |
2021
£
-
-
2021
-
Restricted
funds
£
-
-
823
5
828
-
-
-
- |
2020
£
4,618
4,618
2020
1
Total
funds
£
11
16,793
7,788
15,298 |
|
|
39,890
5,773
3,754
18,137 |
|
|
27,664 |
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
continued...
Page 12
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2021
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
10.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
|
|
Unrestricted
funds
£
Net gains on investments
15,000
NET INCOME
26,398
Transfers between funds
277
Net movement in funds
26,675
RECONCILIATION OF FUNDS
Total funds brought forward
248,937
TOTAL FUNDS CARRIED FORWARD
275,612
11.
TANGIBLE FIXED ASSETS
COST
At 1 September 2020
Disposals
At 31 August 2021
DEPRECIATION
At 1 September 2020
Charge for year
Eliminated on disposal
At 31 August 2021
NET BOOK VALUE
At 31 August 2021
At 31 August 2020 |
Restricted
funds
£
-
828
(277)
551
4,128
4,679 |
Total
funds
£
15,000 |
|
|
27,226
- |
|
|
27,226
253,065 |
|
|
280,291 |
|
|
Fixtures
and
fittings
£
1,063
(49)
1,014
334
107
(35)
406
608
729 |
continued...
Page 13
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2021
12. INVESTMENT PROPERTY
FAIR VALUE
At 1 September 2020
and 31 August 2021
NET BOOK VALUE
At 31 August 2021
At 31 August 2020 |
£
200,000 |
|
200,000 |
|
200,000 |
TherevaluationatmarketvaluesubjecttoexistingtenancywasprovidedbyMrACBartonofGibbs Gillespie
SurveyorsLimited,amemberofRICS,on07/12/2020.TheTrusteesareoftheopinionthatthevalueasat 31
August 2021 was unchanged.
If the investment property had not been revalued it would have been included at the historical cost:
Cost
13.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
Prepayments
14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Money held on behalf of NFWI
Accrued expenses
Deferred income |
|
2021 |
|
2020 |
|
|
£ |
|
£ |
|
|
185,000 |
|
185,000 |
|
|
|
|
|
|
|
2021
£
427
1,424
1,851
2021
£
454
2,614
1,881
4,949 |
|
2020
£
-
1,063
1,063
2020
£
229
2,245
1,667
4,141 |
Deferred income is rent received for period after year end.
continued...
Page 14
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2021
15. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
Within one year
Between one and five years |
2021
£
9,270
3,112
12,382 |
2020
£
8,490
- |
|
|
8,490 |
TheoperatingleaseisonUnit3,7TheGreen,WestDrayton,andwasoriginallyfor5yearsfrom1 January
2016, it was extended on 05 November 2021 to 31 December 2022.
16. MOVEMENT IN FUNDS
Unrestricted funds
General fund
Fair value
Restricted funds
MFWI Bursaries
Agnes Salter Fund
NFWI Suspended
TOTAL FUNDS
Net movement in funds, included in the above are a
Unrestricted funds
General fund
Restricted funds
MFWI Bursaries
TOTAL FUNDS |
At 1.9.20
£
100,984
174,628
275,612
1,905
191
2,583
4,679
280,291
s follows: |
Net
movement
in funds
£
13,959
-
13,959
1
-
-
1
13,960
Incoming
resources
£
33,761
1
33,762 |
Transfers
between
At
funds
31.8.21
£
£
1,144
116,087
-
174,628
1,144
290,715
-
1,906
-
191
(1,144)
1,439
(1,144)
3,536
-
294,251
Resources
Movement
expended
in funds
£
£
(19,802)
13,959
-
1
(19,802)
13,960 |
|
|
|
|
continued...
Page 15
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2021
16. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
Net
movement
At 1.9.19
in funds
£
£
Unrestricted funds
General fund
74,309
26,398
Fair value
174,628
-
248,937
26,398
Restricted funds
MFWI Bursaries
1,900
5
Agnes Salter Fund
191
-
NFWI Suspended
2,037
823
4,128
828
TOTAL FUNDS
253,065
27,226
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
39,062
(27,664)
Restricted funds
MFWI Bursaries
5
-
NFWI Suspended
823
-
828
-
TOTAL FUNDS
39,890
(27,664) |
Transfers
between
At
funds
31.8.20
£
£
277
100,984
-
174,628
277
275,612
-
1,905
-
191
(277)
2,583
(277)
4,679
-
280,291
Gains and
Movement
losses
in funds
£
£
15,000
26,398
-
5
-
823
-
828
15,000
27,226 |
|
|
continued...
Page 16
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2021
16. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
Fair value
Restricted funds
MFWI Bursaries
Agnes Salter Fund
NFWI Suspended
TOTAL FUNDS |
At 1.9.19
£
74,309
174,628
248,937
1,900
191
2,037
4,128
253,065 |
Net
movement
in funds
£
40,357
-
40,357
6
-
823
829
41,186 |
Transfers
between
funds
£
1,421
-
1,421
-
-
(1,421)
(1,421)
- |
At
31.8.21
£
116,087
174,628 |
|
|
|
|
290,715
1,906
191
1,439 |
|
|
|
|
3,536 |
|
|
|
|
294,251 |
A currentyear12 monthsandprioryear12 monthscombinednetmovementinfunds,includedinthe above
are as follows:
|
Incoming |
Resources |
Gains and |
Gains and |
Movement |
|
resources |
expended |
losses |
|
in funds |
|
£ |
£ |
£ |
|
£ |
Unrestricted funds |
|
|
|
|
|
General fund |
72,823 |
(47,466) |
15,000 |
|
40,357 |
Restricted funds |
|
|
|
|
|
MFWI Bursaries |
6 |
- |
|
- |
6 |
NFWI Suspended |
823 |
- |
|
- |
823 |
|
829 |
- |
|
- |
829 |
TOTAL FUNDS |
73,652 |
(47,466) |
15,000 |
|
41,186 |
Transfers between funds
MoneyreceivedfromsuspendedNewFederationsoftheWomen'sInstitute(NFWI)isheldforthreeyears in
therestrictedfundtobeusedfornewlyformedWomen'sInstitutesinthatarea.IfnoWomen'sInstitute is
formed within this period the money is transferred to the Unrestricted fund.
continued...
Page 17
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2021
17. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2021.
Page 18
The Middlesex Federation Of Women's
Institutes
Detailed Statement of Financial Activities
for the Year Ended 31 August 2021
|
2021 |
2020 |
|
£ |
£ |
INCOME AND ENDOWMENTS |
|
|
Donations and legacies |
|
|
Donations |
40 |
11 |
Other trading activities |
|
|
Publications |
887 |
1,480 |
Subcommittees' activities |
142 |
1,442 |
Special efforts and other activities |
834 |
586 |
200 Club |
1,350 |
1,512 |
ACWW Charity collections |
240 |
55 |
Conference income |
- |
385 |
Pooling income |
- |
18 |
Insurance |
785 |
775 |
Events income |
328 |
1,535 |
|
4,566 |
7,788 |
Investment income |
|
|
Rent receivable |
15,000 |
15,000 |
Deposit account interest |
267 |
298 |
|
15,267 |
15,298 |
Charitable activities |
|
|
Membership fees |
13,889 |
16,793 |
Total incoming resources |
33,762 |
39,890 |
EXPENDITURE |
|
|
Raising donations and legacies |
|
|
Publications |
147 |
877 |
Subcommittees' activities |
340 |
773 |
Special efforts and other activities |
834 |
193 |
200 Club |
1,075 |
1,477 |
Denman Bursaries |
- |
143 |
ACWW Charity appeals and donations |
240 |
55 |
Conference expenditure |
100 |
316 |
Events expenditure |
12 |
1,939 |
|
2,748 |
5,773 |
This page does not form part of the statutory financial statements
Page 19
The Middlesex Federation Of Women's
Institutes
Detailed Statement of Financial Activities
for the Year Ended 31 August 2021
|
2021 |
2020 |
|
£ |
£ |
Raising donations and legacies |
|
|
Other |
|
|
Wages |
- |
4,618 |
Insurance |
1,012 |
1,086 |
Office management |
3,489 |
3,168 |
Repair and maintenance |
46 |
226 |
Rent payable |
8,770 |
8,490 |
Website expenses |
364 |
420 |
Depreciation of fixtures and fittings |
107 |
129 |
Loss on disposal of tangible fixed assets |
14 |
- |
|
13,802 |
18,137 |
Support costs |
|
|
Governance costs |
|
|
Trustees' expenses |
252 |
1,138 |
Independent examination |
1,650 |
1,638 |
Accountancy fee |
870 |
978 |
Legal & professional fees |
480 |
- |
|
3,252 |
3,754 |
Total resources expended |
19,802 |
27,664 |
Net income |
13,960 |
12,226 |
This page does not form part of the statutory financial statements
Page 20