``` 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 ```