REGISTERED CHARITY NUMBER: 1167199
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 August 2022
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 2022
|
|
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 |
to |
9 |
Notes to the Financial Statements |
10 |
to |
19 |
Detailed Statement of Financial Activities |
20 |
to |
21 |
The Middlesex Federation Of Women's
Institutes
Reference and Administrative Details
for the Year Ended 31 August 2022
TRUSTEES |
Mrs S Endersby |
|
Mrs L Reed-Wenman (resigned 9.3.22) |
|
Mrs A Fremantle |
|
Mrs A M Chessman |
|
Mrs Y McBride (resigned 20.10.21) |
|
Mrs M Gordon |
|
Ms E Watson |
|
Mrs J N Lewis |
|
Ms H McIntyre (appointed 20.10.21) |
|
Mrs E Alcock (appointed 1.2.22) |
|
Ms S McCullock (appointed 8.2.22) |
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 2022
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended31August2022. The
trusteeshaveadoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommended Practice
applicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableinthe 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
TheWIisrecognisedasaneducationalcharitywhichadvancestheeducationofwomenandalsopromotes sustainable
developmentforthepublicbenefitbysucheducation,withmembersalsobeingencouragedtobeinvolvedwith their
localcommunities.TheBoardofTrustees,aMembershipsub-committee,aCraftsub-committee,aLeisureand Sports
sub-committee and a Membership Communication co-ordinator provide training and administration for our members.
Wehavecompliedwiththedutiesinsection17oftheCharitiesAct2011tohaveregardtoguidancepublishedby the
Charity Commission, including public benefit guidance.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Keyachievementsin2021/22-ourWIshavebeenabletomeetthroughouttheyearandresumegroupactivities and
attendanceatfundraisingevents.OurWIAdvisershavevisitedeveryWIthisyear,amajorundertakingwithonly 5
AdviserswithintheFederation.WehaveemployedaFederationSecretarywhowillstartheremployment 19th
September2022.This is a big milestonefor MiddlesexFederationas we have not had a FederationSecretarysince March
2020. Our Board of Trustees have undertaken the administrative tasks to the detriment of other activities.
Our Treasurer has continued to provide detailed cash flow scenarios that are a continuing part of our Risk Plan.
OurMiddlesexNewsletteris produced10 times a yearandcontinuesto providean excellentlineof communicationto all
of ourmembers.The newsletteris availableonlinethroughourwebsiteanda monthlyemailto all of ourmembers from
ourChair.Forthosememberswhopreferahardcopyofthenewsletteroneisavailabletopurchase.Weproduce and
print the newsletter in-house to save costs. Our Website address is: www.MFWI.org.uk..
The Digitalteam continueto offeronlinetrainingsessions,assistingourmembersto use variousmediastreamsto stay in
contactwithbothfamilyandfriends,thistraininghasbeencarriedoutonZoom.OurWebsitehashada complete
makeover, receiving favourable feedback from our members.
TheFederationTreasurerhasheldworkshopstotrainnewWITreasurers,andourWIAdvisershaveheldworkshops for
newWIPresidentsandSecretaries.TheFederationTreasurerhassuccessfullycompletedtheIndependent Financial
Examiner Trainer course, and has held several training courses.
TheCraftcommitteehaveofferednumerousZoomsessionsforcraft,andtheKnitandNattergroupcontinuesto prove
very popular with our members.
The PublicAffairs committee continueto be active.We are activelycampaigningon Climate Change,Dementia Awareness
andtheplightof"moderndayslavery".MiddlesexFederationhavesubmittedaresolutiontoNFWIforconsideration to
beincludedinthe2023Resolutioncampaign.Thethemeoftheresolutionisaroundtheeaseofhelpingto properly
insulate homes and to make it more affordable.
Our MFWI ACM was held on Zoom in March 2022.
TheNFWIACMwasheldasahybridmeetinginJune2022.MiddlesexFederationsent9delegatestoLiverpoolfor the
meetingalongwith3 FederationRepresentatives,5 WIAdvisers.Therewerealso10observerswhoappliedtoattend in
person. Many of our members chose to join the meeting via Zoom.
Page 2
The Middlesex Federation Of Women's
Institutes
Report of the Trustees
for the Year Ended 31 August 2022
FINANCIAL REVIEW
Financial result and Reserves Policy
Thecharityhasa netsurplusof £10,989(2021£13,960)of which£11,294(2021£13,959) wasderivedfrom unrestricted
reserves,and(£305)(2021£1)fromrestrictedreserves.Subscriptionscontinuetobethemainsourceofincome beside
the rent income.
Theunrestrictedreserveswhichcanbeappliedtothegeneraloperationofthecharitystandat£302,025 (2021:
£290,715), the restricted reserves stand at £3,215 (2021: £3,536).
Reserves policy
The trusteesconsiderthatthe charityshouldholdat least£46,000to coveremergencies,beingapproximately12 months
regularexpenditure.Someofthesemaybeneededtooffsetanyreducedincomefromfallingmembershipinorder 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,andthefor2021plannedand then
cancelled centenary celebration is going to be self-funded.
FUTURE PLANS
Themembershipyearrunsfrom1stApriluntil31stMarch.Ourmembershipnumbersasof31stAugust(1415)are only
slightly down from the previous year end (1536), but continue to grow month on month.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Thecharityiscontrolledbyitsgoverningdocument,itsConstitutionasaCharitableIncorporatedOrganisation(CIO) and
theRulesforFederationofWomen'sInstitutes.Bothofthesegoverningdocumentswererevised27thMarch2021 to
reflectnew ways of holdingmeetingsdigitallyand to includethe individualWI's optionto be flexibleon theirshareof the
subscription fees.
Page 3
The Middlesex Federation Of Women's
Institutes
for the Year Ended 31 August 2022
Report of the Trustees
STRUCTURE, GOVERNANCE AND MANAGEMENT
Recruitment and appointment of new trustees
MiddlesexmembersnominateuptotwelvememberstotheBoardtoserveasTrustees;co-optionsmaybemade if
requiredduringtheyearwiththeelectionof suchco-optedtrusteesbeingratifiedat thenextAnnualMeeting. Elections
forBoardmembersareheldeverythreeyears.AllTrusteesworkinavoluntarycapacity.TheBoardmeetupto eleven
times during the year, plus one special meeting to elect officers and formulate policy.
At the beginning of the financial year in September 2021 the board of trustees comprised
Mrs Lorraine Reed-Wenman, Chairman
Mrs Sarah Endersby, Honorary Treasurer
Other committee members were:
Mrs Alison Fremantle
Mrs Angela Chessman
Mrs Yve McBride. Resigned October 2021
Ms Emma Watson
Mrs Julia Lewis
Ms Michelle Gordon
The Trustees appoint up to four officers from their number: Chairman, Honorary Treasurer and up to two Vice Chairmen
During the financial year the following were co-opted
Mrs Elizabeth Alcock (1/2/22)
Miss Heather McIntyre (20/10/21)
Ms Sarah McCullock (8/2/22)
All three were formally voted onto the Board of Trustees at the Annual Meeting March 2022.
AtourAnnualMeetingMarch2022MrsLorraineReed-WenmanstooddownfromherroleasChairandTrustee. Mrs
Angela Chessman was duly elected as Chair.
Page 4
The Middlesex Federation Of Women's
Institutes
Report of the Trustees
for the Year Ended 31 August 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
TheMiddlesexFederationcomprises44Women'sInstitutebranchesthroughouttheformercountyofMiddlesex and
Greater London.
EachWI is responsiblefor runningits own monthlymeetingsandits finances,most WIs beingregisteredindividually with
theCharityCommission.Therewere1415fullypaidupmembersattheendofAugust2022.AllWIsarepartof the
National Federation of WIs and are encouraged to take a full part in their activities
Fundingmainlycomesfromsubscriptionsanddonations.Trusteesandsub-committeemembersarepaid travelling
expenses.
We own the buildingat No 2 the Green, West Drayton,which was our former office.We now lease this to a neighbouring
Doctors' Practise and we rent a unit at No 7 the Green, West Drayton.
The lease for No 2 The Green is currentlybeing held over at the previousrent, advice havingbeen soughtfrom a surveyor
inDecember2020to ensurethattherentbeingaskedis comparableto thecurrentmarketrentsforthearea.The lease
forNo7 was renewedin2016ona 5-yearterm.The leasewas renewedIn January2021foroneyear,withanoption to
extend. We are currently in negations to renew the lease.
Ourreservepolicyis currentlybasedon the uncertaintyre ourlease for ourofficeat No 7 the Green.We have to ensure
we havesufficientfundstocovertheeventualityof theleasenotbeingrenewedduetoeitherMFWIorthelandlord not
wishingtorenew.Currentmarketpricesindicatewecurrentlypaybelowtheaveragerent.Iftheleaseisnot renewed,
we have 3 months to find alternative accommodation.
Approved by order of the board of trustees on 18 January 2023 and signed on its behalf by:
Mrs A Fremantle - 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 report to the charitytrustees on my examinationof the accountsof The MiddlesexFederationOf Women's Institutes (the
Trust) for the year ended 31 August 2022.
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
myexaminationI havefollowedallapplicableDirectionsgivenbytheCharityCommissionunderSection145(5)(b)of the
Act.
Independent examiner's statement
I havecompletedmyexamination.I confirmthatnomaterialmattershavecometomyattentioninconnectionwith 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.
I have no concernsand have come acrossno othermattersin connectionwith the examinationto whichattention 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
26 January 2023
Page 6
The Middlesex Federation Of Women's
Institutes
Statement of Financial Activities
for the Year Ended 31 August 2022
Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
11
Charitable activities
Educational activities
16,301
Other trading activities
3
10,933
Investment income
4
15,004
Total
42,249
EXPENDITURE ON
Raising funds
5
12,531
Charitable activities
6
Educational activities
3,601
Other
14,823
Total
30,955
NET INCOME/(EXPENDITURE)
11,294
Transfers between funds
15
16
Net movement in funds
11,310
RECONCILIATION OF FUNDS
Total funds brought forward
290,715
TOTAL FUNDS CARRIED FORWARD
302,025 |
Restricted
funds
£
-
-
-
-
-
305
-
-
305
(305)
(16)
(321)
3,536
3,215 |
2022
Total
funds
£
11
16,301
10,933
15,004
42,249
12,836
3,601
14,823
31,260
10,989
-
10,989
294,251
305,240 |
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 |
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 2022
Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
10
517
Investment property
11
200,000
200,517
CURRENT ASSETS
Debtors
12
1,305
Cash at bank
104,902
106,207
CREDITORS
Amounts falling due within one year
13
(4,699)
NET CURRENT ASSETS
101,508
TOTAL ASSETS LESS CURRENT LIABILITIES
302,025
NET ASSETS
302,025 |
Restricted
funds
£
-
-
-
-
3,215
3,215
-
3,215
3,215
3,215 |
2022
Total
funds
£
517
200,000
200,517
1,305
108,117
109,422
(4,699)
104,723
305,240
305,240 |
2021
Total
funds
£
608
200,000
200,608
1,851
96,741
98,592
(4,949)
93,643
294,251
294,251 |
|
|
|
|
The notes form part of these financial statements
continued...
Page 8
The Middlesex Federation Of Women's
Institutes
Balance Sheet - continued
31 August 2022
FUNDS
15
Unrestricted funds
Restricted funds
TOTAL FUNDS |
302,025
3,215
305,240 |
290,715
3,536 |
|
|
294,251 |
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon18January2023and were
signed on its behalf by:
A Fremantle - Trustee
S Endersby - Trustee
The notes form part of these financial statements
Page 9
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements
for the Year Ended 31 August 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,havebeenprepared in
accordancewith the CharitiesSORP (FRS 102) 'Accountingand Reportingby Charities:Statementof Recommended
PracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReporting Standard
applicablein the UK and Republicof Ireland(FRS 102) (effective 1 January2019)', FinancialReportingStandard 102
'TheFinancialReportingStandardapplicableintheUKandRepublicofIreland'andtheCharitiesAct2011. The
financialstatementshavebeenpreparedunderthehistoricalcostconvention,asmodifiedbytherevaluation of
certain assets.
Income
All incomeis recognisedin the Statementof FinancialActivitiesonce the charityhas entitlementto the funds,it is
probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlement and
the amountof the obligationcanbe measuredreliably.Expenditureis accountedforon an accrualsbasisand has
beenclassifiedunderheadingsthataggregateallcostrelatedtothecategory.Wherecostscannotbe directly
attributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwiththeuse 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 and fittings - 15% on reducing balance
Investment property
Investmentpropertyisshownatmostrecentvaluation.Anyaggregatesurplusordeficitarisingfromchanges 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,depositsheldatcallwithfinancialinstitutions, with
insignificant risk of change in value.
Creditors
Liabilitiesandprovisionsare recognisedwhen thereis an obligationat the Balancesheet dateas a resultof a past
event.Liabilitiesare recognisedat the amountthe charityanticipatesit willpayto settlethe debt.Provisions are
measured at the best estimate of the amounts required to settle the obligation.
continued...
Page 10
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2022
1. ACCOUNTING POLICIES - continued
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restrictedfundscanonlybe usedforparticularrestrictedpurposeswithinthe objectsof 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 notes to the financial statements.
Going concern
The financialstatementshave been preparedon the basis of going concern.Due to the high level of reserves there
are no material uncertainties regarding going concern for the next 12 months.
2. DONATIONS AND LEGACIES
3.
Donations
OTHER TRADING ACTIVITIES
Publications
Subcommittees' activities
Special efforts and other activities
200 Club
ACWW Charity collections
Conference income
Pooling income
Insurance
Events income |
2022
£
11
2022
£
607
796
454
954
63
4,752
2,414
793
100
10,933 |
2021
£
40
2021
£
887
142
834
1,350
240
-
-
785
328 |
|
|
4,566 |
continued...
Page 11
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2022
4. INVESTMENT INCOME
INVESTMENT INCOME |
|
|
Rent receivable
Deposit account interest |
2022
£
15,000
4
15,004 |
2021
£
15,000
267 |
|
|
15,267 |
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 |
|
|
The charity'sfreeholdpropertyat 2 The Green, West Draytoncontinuesto be let on an operatinglease with effect
from 1 September 2016.
In the absence of a new signed lease, the table above assumes an expiry date of 31 August 2023.
5. RAISING FUNDS
Raising donations and legacies
Publications
Subcommittees' activities
Special efforts and other activities
200 Club
ACWW Charity appeals and donations
Conference expenditure
Pooling expenditure
Events expenditure |
2022
£
-
362
1,561
1,240
173
7,042
576
1,882
12,836 |
2021
£
147
340
834
1,075
240
100
-
12 |
|
|
2,748 |
continued...
Page 12
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2022
6. CHARITABLE ACTIVITIES COSTS
CHARITABLE ACTIVITIES COSTS |
|
|
Support |
|
costs (see |
|
note 7) |
|
£ |
Educational activities |
3,601 |
SUPPORT COSTS |
|
|
Governance |
|
costs |
|
£ |
Educational activities |
3,601 |
7. SUPPORT COSTS
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees'remunerationor other benefitsfor the year ended 31 August2022 nor for the year ended
31 August 2021.
Trustees' expenses
Trustees travel expenses were reimbursedto 2 (2021: 2) trusteesin the year ended 31/08/2022amountedto £805
(2021: £252).
9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
|
|
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
40
Charitable activities
Educational activities
13,889
Other trading activities
4,566
Investment income
15,266
Total
33,761
EXPENDITURE ON
Raising funds
2,748
Charitable activities
Educational activities
3,252
Other
13,802 |
Restricted
funds
£
-
-
-
1
1
-
-
- |
Total
funds
£
40
13,889
4,566
15,267 |
|
|
33,762 |
|
|
2,748
3,252
13,802 |
continued...
Page 13
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2022
9.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
funds
£
Total
19,802
NET INCOME
13,959
Transfers between funds
1,144
Net movement in funds
15,103
RECONCILIATION OF FUNDS
Total funds brought forward
275,612
TOTAL FUNDS CARRIED FORWARD
290,715
10.
TANGIBLE FIXED ASSETS
COST
At 1 September 2021 and 31 August 2022
DEPRECIATION
At 1 September 2021
Charge for year
At 31 August 2022
NET BOOK VALUE
At 31 August 2022
At 31 August 2021 |
Restricted
Total
funds
funds
£
£
-
19,802
1
13,960
(1,144)
-
(1,143)
13,960
4,679
280,291
3,536
294,251
Fixtures
and
fittings
£
1,014
406
91
497
517
608 |
Total
funds
£ |
|
|
19,802 |
|
|
13,960
- |
|
|
13,960
280,291 |
|
|
294,251 |
continued...
Page 14
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2022
11. INVESTMENT PROPERTY
INVESTMENT PROPERTY |
|
FAIR VALUE
At 1 September 2021
and 31 August 2022
NET BOOK VALUE
At 31 August 2022
At 31 August 2021 |
£
200,000 |
|
200,000 |
|
200,000 |
TherevaluationatmarketvaluesubjecttoexistingtenancywasprovidedbyMrACBartonofGibbs Gillespie
SurveyorsLimited,amemberofRICS,on07/12/2020.TheTrusteesareoftheopinionthatthevalueasat 31
August 2022 was unchanged.
If the investment property had not been revalued it would have been included at the historical cost:
Cost
12.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
Prepayments |
|
2022 |
|
2021 |
|
|
£ |
|
£ |
|
|
185,000 |
|
185,000 |
|
|
|
|
|
|
|
2022
£
497
808
1,305 |
|
2021
£
427
1,424
1,851 |
continued...
Page 15
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2022
13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
Money held on behalf of NFWI
Accrued expenses
Deferred income |
2022
£
227
2,693
1,779
4,699 |
2021
£
454
2,614
1,881 |
|
|
4,949 |
Deferred income is rent received for period after year end.
14. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
Within one year
Between one and five years |
2022
£
3,112
-
3,112 |
2021
£
9,270
3,112 |
|
|
12,382 |
The operatinglease is on Unit 3, 7 The Green, West Drayton,and was originallyfor 5 years from 1 January2016, it
was extended on 05 November 2021 to 31 December 2022.
15. MOVEMENT IN FUNDS
Unrestricted funds
General fund
Fair value
Restricted funds
MFWI Bursaries
Agnes Salter Fund
NFWI Suspended
TOTAL FUNDS |
Net
movement
At 1.9.21
in funds
£
£
116,087
11,294
174,628
-
290,715
11,294
1,906
-
191
-
1,439
(305)
3,536
(305)
294,251
10,989 |
Transfers
between
funds
£
16
-
16
-
-
(16)
(16)
- |
At
31.8.22
£
127,397
174,628 |
|
|
|
302,025
1,906
191
1,118 |
|
|
|
3,215 |
|
|
|
305,240 |
continued...
Page 16
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2022
15. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
NFWI Suspended
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Fair value
Restricted funds
MFWI Bursaries
Agnes Salter Fund
NFWI Suspended
TOTAL FUNDS |
Incoming
resources
£
42,249
-
42,249
Net
movement
At 1.9.20
in funds
£
£
100,984
13,959
174,628
-
275,612
13,959
1,905
1
191
-
2,583
-
4,679
1
280,291
13,960 |
Resources
Movement
expended
in funds
£
£
(30,955)
11,294
(305)
(305)
(31,260)
10,989
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 |
|
|
|
continued...
Page 17
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2022
15. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
|
Incoming |
Resources |
Movement |
|
resources |
expended |
in funds |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
33,761 |
(19,802) |
13,959 |
Restricted funds |
|
|
|
MFWI Bursaries |
1 |
- |
1 |
TOTAL FUNDS |
33,762 |
(19,802) |
13,960 |
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 |
Net
movement
At 1.9.20
in funds
£
£
100,984
25,253
174,628
-
275,612
25,253
1,905
1
191
-
2,583
(305)
4,679
(304)
280,291
24,949 |
Transfers
between
funds
£
1,160
-
1,160
-
-
(1,160)
(1,160)
- |
At
31.8.22
£
127,397
174,628 |
|
|
|
302,025
1,906
191
1,118 |
|
|
|
3,215 |
|
|
|
305,240 |
continued...
Page 18
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2022
15. MOVEMENT IN FUNDS - continued
A currentyear12 monthsandprioryear12 monthscombinednetmovementinfunds,includedintheabove are
as follows:
|
Incoming |
Resources |
Movement |
|
resources |
expended |
in funds |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
76,010 |
(50,757) |
25,253 |
Restricted funds |
|
|
|
MFWI Bursaries |
1 |
- |
1 |
NFWI Suspended |
- |
(305) |
(305) |
|
1 |
(305) |
(304) |
TOTAL FUNDS |
76,011 |
(51,062) |
24,949 |
Transfers between funds
MoneyreceivedfromsuspendedNewFederationsoftheWomen'sInstitute(NFWI)isheldforthreeyearsin the
restrictedfundtobeusedfornewlyformedWomen'sInstitutesinthatarea.IfnoWomen'sInstituteis formed
within this period the money is transferred to the Unrestricted fund.
16. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2022.
Page 19
The Middlesex Federation Of Women's
Institutes
Detailed Statement of Financial Activities
for the Year Ended 31 August 2022
|
2022 |
2021 |
|
£ |
£ |
INCOME AND ENDOWMENTS |
|
|
Donations and legacies |
|
|
Donations |
11 |
40 |
Other trading activities |
|
|
Publications |
607 |
887 |
Subcommittees' activities |
796 |
142 |
Special efforts and other activities |
454 |
834 |
200 Club |
954 |
1,350 |
ACWW Charity collections |
63 |
240 |
Conference income |
4,752 |
- |
Pooling income |
2,414 |
- |
Insurance |
793 |
785 |
Events income |
100 |
328 |
|
10,933 |
4,566 |
Investment income |
|
|
Rent receivable |
15,000 |
15,000 |
Deposit account interest |
4 |
267 |
|
15,004 |
15,267 |
Charitable activities |
|
|
Membership fees |
16,301 |
13,889 |
Total incoming resources |
42,249 |
33,762 |
EXPENDITURE |
|
|
Raising donations and legacies |
|
|
Publications |
- |
147 |
Subcommittees' activities |
362 |
340 |
Special efforts and other activities |
1,561 |
834 |
200 Club |
1,240 |
1,075 |
ACWW Charity appeals and donations |
173 |
240 |
Conference expenditure |
7,042 |
100 |
Carried forward |
10,378 |
2,736 |
This page does not form part of the statutory financial statements
Page 20
The Middlesex Federation Of Women's
Institutes
Detailed Statement of Financial Activities
for the Year Ended 31 August 2022
|
2022 |
2021 |
|
£ |
£ |
Raising donations and legacies |
|
|
Brought forward |
10,378 |
2,736 |
Pooling expenditure |
576 |
- |
Events expenditure |
1,882 |
12 |
|
12,836 |
2,748 |
Other |
|
|
Insurance |
1,058 |
1,012 |
Office management |
3,911 |
3,489 |
Repair and maintenance |
245 |
46 |
Rent payable |
9,149 |
8,770 |
Website expenses |
369 |
364 |
Depreciation of fixtures and fittings |
91 |
107 |
Loss on disposal of tangible fixed assets |
- |
14 |
|
14,823 |
13,802 |
Support costs |
|
|
Governance costs |
|
|
Trustees' expenses |
805 |
252 |
Independent examination |
1,962 |
1,650 |
Accountancy fee |
834 |
870 |
Legal & professional fees |
- |
480 |
|
3,601 |
3,252 |
Total resources expended |
31,260 |
19,802 |
Net income |
10,989 |
13,960 |
This page does not form part of the statutory financial statements
Page 21