REGISTERED CHARITY NUMBER: 1167199
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 August 2023
for
The Middlesex Federation Of Women's
Institutes
Merchant & Co
Chartered Certified Accountants
2 Craven Road
Ealing
London
W5 2UA
The Middlesex Federation Of Women's
Institutes
Contents of the Financial Statements
for the Year Ended 31 August 2023
|
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 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 2023
TRUSTEES |
Mrs S Endersby |
|
Mrs L Reed (appointed 17.5.23) |
|
Mrs A Fremantle |
|
Mrs A M Chessman |
|
Mrs M Gordon (resigned 15.2.23) |
|
Ms E Watson |
|
Mrs J N Lewis |
|
Ms H McIntyre (resigned 10.7.23) |
|
Mrs E Alcock |
|
Ms S McCullock (resigned 21.9.22) |
|
Mrs C Maxted (appointed 21.6.23) |
|
Mrs E Morrell (appointed 17.5.23) |
PRINCIPAL ADDRESS |
3, 7B The Green |
|
West Drayton |
|
Middlesex |
|
UB7 7PL |
REGISTERED CHARITY NUMBER |
1167199 |
INDEPENDENT EXAMINER |
Merchant & Co |
|
Chartered Certified Accountants |
|
2 Craven Road |
|
Ealing |
|
London |
|
W5 2UA |
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 2023
The trusteespresenttheirreportwiththe financialstatementsof the charityforthe yearended31 August2023. 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
TheMiddlesexFederationoftheWomen'sInstitutes(WI)isrecognisedasaneducationalcharitywithmembers also
very involved with their 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
PublicAffairssub-committeeanda MembershipCommunicationco-ordinatorprovidetrainingandadministration 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 2023
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Key achievementsin 2022/23 - our WIs have attendednumerousfund raisingevents withinour local communities and
attendedWIGroupmeetingsacrosstheFederation.WehavesuccessfullytrainedanewWIAdvisortaking our
numberupto6. We haveemployeda FederationSecretarywhostartedheremployment19thSeptember2022. This
has been of great benefit to both the Board of Trustees and our members.
Our Treasurer has continued to provide detailed cash flow scenarios that are a continuing part of our Risk Plan.
Our MiddlesexNewsletteris produced10 times a year and continuesto providean excellentline of communication to
all of our members.The newsletteris availableonlinethroughour website and a monthlyemail to all of our members
fromourChair.Forthosememberswhopreferahardcopyofthenewsletteroneisavailabletopurchase. We
produceandprintthenewsletterin-housetosavecosts.OurFederationsecretaryhasrecentlytakenonthetask of
producing the newsletter from Emma Watson our Digital Lead.
The Digitalteam continuesto offer online trainingsessions. The traininghas been carriedout on MicrosoftTEAMS and
one person at County Office.
TheFederationTreasurercontinuestoholdworkshopstotrainnewWITreasurers,andourWIAdvisershave held
workshops for new WI Presidents and Secretaries plus training on setting up Social media sites for individual WIs.
TheCraftcommitteehaverestartedmonthlyCraftDabbledaysinCountyOffice.TheCraftbankaccounthas been
closed and is now fully integrated into the Federation current account.
ThePublicAffairscommitteecontinuetobeactive.Weheldanawarenessdayinsupportforthe2023 NFWI
resolution"CleanRiversforPeopleandWildlife".ManyofourmembersjoinedinwithaswiminTheRiver Thames.
Weareactivelycampaigningon"ThinkingDifferently:AutisticandADHDinWomenandGirls"and"SeetheSigns" -
Ovarian cancer awareness.
WeheldourAnnualCouncilmeetinginMarch2023,thefirstinpersonforthreeyears.Themeetingwasheld at
QuestorsTheatrein Ealing.A changeof venue from previousmeetingsand well received by our members, attendance
was significantly improved.
TheNFWIACMwasheldinJune2023,inCardiff.MiddlesexFederationsent7delegatestoCardiffforthe meeting
alongwith 3 FederationRepresentatives,5 WI Advisers.There were also 17 observerswho attendedin person. Many
of our members chose to join the meeting via TEAMS.
FINANCIAL REVIEW
Financial result and reserves policy
The charityhas a net surplusof £7,002 (2022: £10,989)of which £6,078 (2022: £11,294)was derived from unrestricted
reserves,and£924(2022:(£305))fromrestrictedreserves.Subscriptionscontinuetobethemainsourceof income
beside the rent income.
Theunrestrictedreserveswhichcanbeappliedtothegeneraloperationofthecharitystandat£309,074 (2022:
£302,025), the restricted reserves stand at £3,168 (2022: £3,215) as at 31 August 2023.
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.
Page 3
The Middlesex Federation Of Women's
Institutes
Report of the Trustees
for the Year Ended 31 August 2023
FUTURE PLANS
Themembershipyearrunsfrom1stApriluntil31stMarch.Ourmembershipnumbersasof31stAugust2023 (1384)
are only slightly down from the previous year end (1415), but 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 Boardmembers are held every three years.All Trusteeswork 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 2022 the board of trustees comprised
Mrs Angela Chessman, Chairman
Mrs Sarah Endersby, Honorary Treasurer
Other committee members were:
Mrs Alison Fremantle
Ms Emma Watson
Mrs Julia Lewis
Ms Michelle Gordon (resigned 15 February 2023)
Ms Heather MacIntyre (resigned 10 July 2023)
Mrs Elizabeth Alcock
Ms Sarah McCulloch (resigned 21 September 2022)
TheTrusteesappointuptofourofficersfromtheirnumber:Chairman,HonoraryTreasureranduptotwo Vice
Chairmen.
During the financial year the following were co-opted:
Mrs Elizabeth Morrell (17 May 2023)
Mrs Lorraine Reed (17 May 2023)
Mrs Celya Maxted (21 June 2023)
Page 4
The Middlesex Federation Of Women's
Institutes
Report of the Trustees
for the Year Ended 31 August 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
The MiddlesexFederationcomprises44 Women'sInstitutebranchesthroughouttheformercountyof Middlesex and
Greater London.
EachWIisresponsibleforrunningitsownmonthlymeetingsanditsfinances,mostWIsbeingregistered individually
withtheCharityCommission.Therewere1384fullypaidupmembersattheendofAugust2023.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
neighbouring Doctors' Practise and we rent a unit at No 7 the Green, West Drayton.
Webuildupourreserveswithasurplusinrent.TheleaseforNo2TheGreeniscurrentlybeingheldoverat the
previousrent,advicehavingbeensoughtfromasurveyorinDecember2020toensurethattherentbeingasked is
comparableto thecurrentmarketrentsforthearea.The leaseforNo7 was renewedin2016ona 5-yearterm. The
lease was renewed In January 2023 for two years.
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trusteesare responsiblefor preparingthe Reportof the Trusteesand the financialstatementsin accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
ThelawapplicabletocharitiesinEnglandandWales,theCharitiesAct2011,Charity(Accountsand Reports)
Regulations2008andtheprovisionsofthetrustdeedrequiresthetrusteestopreparefinancialstatementsfor each
financialyearwhichgiveatrueandfairviewofthestateofaffairsofthecharityandoftheincomingresources and
applicationofresources,includingtheincomeandexpenditure,ofthecharityforthatperiod.Inpreparing those
financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewithreasonableaccuracyat any
time the financialpositionof the charityandto enablethem to ensurethatthe financialstatementscomplywith the
CharitiesAct 2011, the Charity(Accountsand Reports)Regulations2008 and the provisionsof the trust deed. They are
alsoresponsibleforsafeguardingtheassetsofthecharityandhencefortakingreasonablestepsforthe prevention
and detection of fraud and other irregularities.
Approved by order of the board of trustees on 29 January 2024 and signed on its behalf by:
Mrs A M Chessman - 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 2023.
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.
Use of our report
This reportis made solely to the charity'strustees,as a body,in accordancewith section 145 of the CharitiesAct 2011.
MyworkhasbeenundertakensothatImightstatetothecharity'strusteesthosemattersIamrequiredtostate to
theminthisreportandfornootherpurpose.Tothefullestextentpermittedbylaw,Idonotacceptor assume
responsibilityto anyoneother than the charityand the charity'strusteesas a body,for my work, for this report,or for
the opinions I have formed.
Ketan Ramesh Patel FCCA
Merchant & Co
Chartered Certified Accountants
2 Craven Road
Ealing
London
W5 2UA
16 February 2024
Page 6
The Middlesex Federation Of Women's
Institutes
Statement of Financial Activities
for the Year Ended 31 August 2023
Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
3
Charitable activities
Educational activities
15,513
Other trading activities
3
10,551
Investment income
4
15,044
Total
41,111
EXPENDITURE ON
Raising funds
5
11,099
Charitable activities
6
Educational activities
4,000
Other
19,934
Total
35,033
NET INCOME
6,078
Transfers between funds
16
971
Net movement in funds
7,049
RECONCILIATION OF FUNDS
Total funds brought forward
302,025
TOTAL FUNDS CARRIED FORWARD
309,074 |
Restricted
funds
£
-
-
1,063
8
1,071
147
-
-
147
924
(971)
(47)
3,215
3,168 |
2023
Total
funds
£
3
15,513
11,614
15,052
42,182
11,246
4,000
19,934
35,180
7,002
-
7,002
305,240
312,242 |
2022
Total
funds
£
11
16,301
10,933
15,004 |
|
|
|
42,249 |
|
|
|
12,838
3,601
14,821 |
|
|
|
31,260 |
|
|
|
10,989
- |
|
|
|
10,989
294,251 |
|
|
|
305,240 |
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 2023
Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
11
717
Investment property
12
200,000
200,717
CURRENT ASSETS
Debtors
13
684
Cash at bank
112,735
113,419
CREDITORS
Amounts falling due within one year
14
(5,062)
NET CURRENT ASSETS
108,357
TOTAL ASSETS LESS CURRENT LIABILITIES
309,074
NET ASSETS
309,074
FUNDS
16
Unrestricted funds
Restricted funds
TOTAL FUNDS |
Restricted
funds
£
-
-
-
-
3,168
3,168
-
3,168
3,168
3,168 |
2023
Total
funds
£
717
200,000
200,717
684
115,903
116,587
(5,062)
111,525
312,242
312,242
309,074
3,168
312,242 |
2022
Total
funds
£
517
200,000 |
|
|
|
200,517
1,305
108,117 |
|
|
|
109,422
(4,699) |
|
|
|
104,723 |
|
|
|
305,240 |
|
|
|
305,240 |
|
|
|
302,025
3,215 |
|
|
|
305,240 |
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon29January2024 and
were signed on its behalf by:
A M Chessman - 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 2023
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.
Income derived mainly from members subscriptions, rental income and other charitable activities.
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.
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.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.
Debtors
Basic financialassets, includingtrade and other debtors,are initiallyrecognisedat transactionprice, unless the
arrangementconstitutesa financingtransaction,where the transactionis measured at the present value of the
futurereceiptsdiscountedat a marketrateof interest.Suchassetsare subsequentlycarriedat amortised cost
using the effective interest method, less any impairment.
continued...
Page 9
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2023
1. ACCOUNTING POLICIES - continued
Cash and cash equivalents
Cash and cash equivalentsare representedby cash in hand,depositsheld at call with financialinstitutions, and
othershort-termhighlyliquidinvestmentsthatmatureinnomorethanthreemonthsfromthedate of
acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Creditors
Basicfinancialliabilities,includingtradeandothercreditors,loansfromthirdpartiesandloansfrom related
parties,are initiallyrecognisedat transactionprice, unless the arrangementconstitutesa financing transaction,
wherethedebtinstrumentismeasuredatthepresentvalueofthefuturepaymentsdiscountedata market
rateofinterest.Suchinstrumentsaresubsequentlycarriedatamortisedcostusingtheeffective interest
method, less any impairment.
Going concern
Thefinancialstatementshavebeenpreparedonthebasisofgoingconcern.Duetothehighlevelof 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 |
2023
£
3
2023
£
331
384
1,667
1,706
259
3,185
2,284
824
974
11,614 |
2022
£
11
2022
£
607
796
454
954
63
4,752
2,414
793
100 |
|
|
10,933 |
continued...
Page 10
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2023
4. INVESTMENT INCOME
INVESTMENT INCOME |
|
|
Rent receivable
Deposit account interest |
2023
£
15,000
52
15,052 |
2022
£
15,000
4 |
|
|
15,004 |
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:
|
2023 |
|
£ |
No later than one year |
15,000 |
|
|
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 2024.
5. RAISING FUNDS
Raising donations and legacies
Subcommittees' activities
Special efforts and other activities
200 Club
ACWW Charity appeals and donations
Conference expenditure
Pooling expenditure
Events expenditure |
2023
£
228
782
1,320
259
7,775
32
850
11,246 |
2022
£
362
1,563
1,240
173
7,042
576
1,882 |
|
|
12,838 |
continued...
Page 11
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2023
6. CHARITABLE ACTIVITIES COSTS
6. |
CHARITABLE ACTIVITIES COSTS |
|
|
|
Support |
|
|
costs (see |
|
|
note 7) |
|
|
£ |
|
Educational activities |
4,000 |
7. |
SUPPORT COSTS |
|
|
|
Governance |
|
|
costs |
|
|
£ |
|
Educational activities |
4,000 |
8. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31August2023norforthe year
ended 31 August 2022.
Trustees' expenses
Trusteestravelexpenseswerereimbursedto4(2022:2)trusteesintheyearended31August2023 which
amounted to £904 (2022: £805).
9. STAFF COSTS
STAFF COSTS |
|
|
|
|
2023 |
2022 |
|
|
£ |
£ |
|
Wages and salaries |
4,944 |
|
- |
|
4,944 |
|
- |
The average monthly number of employees during the year was as follows: |
|
|
|
|
2023 |
2022 |
|
Administration |
1 |
- |
|
No employees received emoluments in excess of £60,000.
continued...
Page 12
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2023
10.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
11
Charitable activities
Educational activities
16,301
Other trading activities
10,933
Investment income
15,004
Total
42,249
EXPENDITURE ON
Raising funds
12,533
Charitable activities
Educational activities
3,601
Other
14,821
Total
30,955
NET INCOME/(EXPENDITURE)
11,294
Transfers between funds
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 |
Total
funds
£
11
16,301
10,933
15,004 |
|
|
42,249 |
|
|
12,838
3,601
14,821 |
|
|
31,260 |
|
|
10,989
- |
|
|
10,989
294,251 |
|
|
305,240 |
continued...
Page 13
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2023
11. TANGIBLE FIXED ASSETS
COST
At 1 September 2022
Additions
Disposals
At 31 August 2023
DEPRECIATION
At 1 September 2022
Charge for year
Eliminated on disposal
At 31 August 2023
NET BOOK VALUE
At 31 August 2023
At 31 August 2022
12.
INVESTMENT PROPERTY
FAIR VALUE
At 1 September 2022
and 31 August 2023
NET BOOK VALUE
At 31 August 2023
At 31 August 2022 |
Computer
equipment
£
1,014
409
(467)
956
497
127
(385)
239
717
517
£
200,000
200,000
200,000 |
|
|
TherevaluationatmarketvaluesubjecttoexistingtenancywasprovidedbyMrACBartonofGibbs Gillespie
SurveyorsLimited,a member of RICS, on 7 December 2020. The Trustees are of the opinionthat the value as at
31 August 2023 was unchanged.
If the investment property had not been revalued it would have been included at the historical cost:
|
2023 |
2022 |
|
£ |
£ |
Cost |
185,000 |
185,000 |
|
|
|
continued...
Page 14
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2023
13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
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 |
2023
£
-
684
684
2023
£
-
3,318
1,744
5,062 |
2022
£
497
808 |
|
|
1,305 |
|
|
2022
£
227
2,693
1,779 |
|
|
4,699 |
Deferred income represents rent received relating to after the year end.
15. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
Within one year
Between one and five years |
2023
£
7,325
2,442
9,767 |
2022
£
3,112
- |
|
|
3,112 |
TheoperatingleaseisonUnit3,7TheGreen,WestDrayton,andwasoriginallyfor5yearsfrom1 January
2016, it was extended on 16 February 2023 for two years.
continued...
Page 15
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2023
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
NFWI Suspended
TOTAL FUNDS |
At 1.9.22
£
127,397
174,628
302,025
1,906
191
1,118
3,215
305,240
s follows: |
Net
movement
in funds
£
6,078
-
6,078
8
-
916
924
7,002
Incoming
resources
£
41,111
8
1,063
1,071
42,182 |
Transfers
between
At
funds
31.8.23
£
£
971
134,446
-
174,628
971
309,074
-
1,914
-
191
(971)
1,063
(971)
3,168
-
312,242
Resources
Movement
expended
in funds
£
£
(35,033)
6,078
-
8
(147)
916
(147)
924
(35,180)
7,002 |
|
|
|
|
continued...
Page 16
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2023
16. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
Unrestricted funds
General fund
Fair value
Restricted funds
MFWI Bursaries
Agnes Salter Fund
NFWI Suspended
TOTAL FUNDS |
At 1.9.21
£
116,087
174,628
290,715
1,906
191
1,439
3,536
294,251 |
Net
movement
in funds
£
11,294
-
11,294
-
-
(305)
(305)
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 |
Comparative net movement in funds, included in the above are as follows:
|
Incoming |
Resources |
Movement |
|
resources |
expended |
in funds |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
42,249 |
(30,955) |
11,294 |
Restricted funds |
|
|
|
NFWI Suspended |
- |
(305) |
(305) |
TOTAL FUNDS |
42,249 |
(31,260) |
10,989 |
continued...
Page 17
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2023
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 1.9.21
£
116,087
174,628
290,715
1,906
191
1,439
3,536
294,251 |
Net
movement
in funds
£
17,372
-
17,372
8
-
611
619
17,991 |
Transfers
between
funds
£
987
-
987
-
-
(987)
(987)
- |
At
31.8.23
£
134,446
174,628 |
|
|
|
|
309,074
1,914
191
1,063 |
|
|
|
|
3,168 |
|
|
|
|
312,242 |
A currentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above
are as follows:
|
Incoming |
Resources |
Movement |
|
resources |
expended |
in funds |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
83,360 |
(65,988) |
17,372 |
Restricted funds |
|
|
|
MFWI Bursaries |
8 |
- |
8 |
NFWI Suspended |
1,063 |
(452) |
611 |
|
1,071 |
(452) |
619 |
TOTAL FUNDS |
84,431 |
(66,440) |
17,991 |
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 18
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2023
17. RELATED PARTY DISCLOSURES
There were no relatedpartytransactionsfor the year ended 31 August2023 nor 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 2023
|
2023 |
2022 |
|
£ |
£ |
INCOME AND ENDOWMENTS |
|
|
Donations and legacies |
|
|
Donations |
3 |
11 |
Other trading activities |
|
|
Publications |
331 |
607 |
Subcommittees' activities |
384 |
796 |
Special efforts and other activities |
1,667 |
454 |
200 Club |
1,706 |
954 |
ACWW Charity collections |
259 |
63 |
Conference income |
3,185 |
4,752 |
Pooling income |
2,284 |
2,414 |
Insurance |
824 |
793 |
Events income |
974 |
100 |
|
11,614 |
10,933 |
Investment income |
|
|
Rent receivable |
15,000 |
15,000 |
Deposit account interest |
52 |
4 |
|
15,052 |
15,004 |
Charitable activities |
|
|
Membership fees |
15,513 |
16,301 |
Total incoming resources |
42,182 |
42,249 |
EXPENDITURE |
|
|
Raising donations and legacies |
|
|
Subcommittees' activities |
228 |
362 |
Special efforts and other activities |
782 |
1,563 |
200 Club |
1,320 |
1,240 |
ACWW Charity appeals and donations |
259 |
173 |
Conference expenditure |
7,775 |
7,042 |
Pooling expenditure |
32 |
576 |
Events expenditure |
850 |
1,882 |
|
11,246 |
12,838 |
Other |
|
|
Wages |
4,944 |
- |
Carried forward |
4,944 |
- |
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 2023
|
2023 |
2022 |
|
£ |
£ |
Other |
|
|
Brought forward |
4,944 |
- |
Insurance |
1,120 |
1,056 |
Office management |
3,661 |
3,911 |
Repair and maintenance |
50 |
245 |
Rent payable |
9,463 |
9,149 |
Website expenses |
487 |
369 |
Depreciation of computer equip ment |
127 |
91 |
Loss on disposal of tangible fixed assets |
82 |
- |
|
19,934 |
14,821 |
Support costs |
|
|
Governance costs |
|
|
Trustees' expenses |
904 |
805 |
Independent examination |
2,163 |
1,962 |
Accountancy fee |
933 |
834 |
|
4,000 |
3,601 |
Total resources expended |
35,180 |
31,260 |
Net income |
7,002 |
10,989 |
This page does not form part of the statutory financial statements
Page 21