```
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
```