REGISTERED CHARITY NUMBER: 1167199
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 August 2024
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 2024
|
Page |
Reference and Administrative Details |
1 |
Report of the Trustees |
2 to 4 |
Independent Examiner's Report |
5 |
Statement of Financial Activities |
6 |
Balance Sheet |
7 |
Notes to the Financial Statements |
8 to 17 |
Detailed Statement of Financial Activities |
18 to 19 |
The Middlesex Federation Of Women's
Institutes
Reference and Administrative Details
for the Year Ended 31 August 2024
TRUSTEES |
Mrs S Endersby |
|
Mrs L Reed |
|
Mrs A Fremantle |
|
Mrs A M Chessman |
|
Ms E Watson |
|
Mrs J N Lewis |
|
Mrs E Alcock |
|
Mrs C Maxted (resigned 20.11.24) |
|
Mrs E Morrell |
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 |
|
London |
|
W5 5JS |
Page 1
The Middlesex Federation Of Women's
Institutes
Report of the Trustees
for the Year Ended 31 August 2024
The trusteespresenttheirreportwiththe financialstatementsof the charityforthe yearended31 August2024. 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.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Keyachievementsin2023/24-ourWIscontinuetoattendfundraisingeventswithinourlocalcommunities and
attendedWIGroupmeetingsacrosstheFederation.InparticularbothSpelthorneGroupandMiddlesexWest Group
areholdingverywellattendedmeetings.Wehave6 WIAdvisers.TheFederationSecretaryhastakenontherole of
Digital Lead, and is providing training for our members on Microsoft SharePoint.
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
from our Chair.For those members who prefer a hardcopy of the newsletterit is availableto purchase.We produce
and print the newsletter in-house to save costs.
TheFederationTreasurercontinuestoholdworkshopstotrainnewWITreasurers,andourWIAdvisershave held
workshops for new WI Presidents and Secretaries plus training on setting up Social Media sites for individual WIs.
WehavecontinuedwithourCraftDabbledays,heldinourCountyOfficehoweverattendanceispoor.We are
currentlyrethinkingourCraftstrategy.LorraineReedhasstooddownas Chairof theCraftCommittee,therole now
being undertaken by Alison Fremantle.
WecontinuetobeactivesupportingNFWIcampaignsandinitiatives,especiallythe2023NFWIresolution "Clean
Riversfor PeopleandWildlife".The 2024resolutionis for DentalHealthMatters- There is a chronicshortageof NHS
Dentistsandpeopleare sufferinghealthissuesas a result.The NFWIcallson the Governmentto increase investment
inthetrainingandretentionofdentistsandtoreviewthecurrentinadequateNHScontractsinorderto ensure
everyone can access an NHS dentist wherever they live.
We held our AnnualCouncilmeeting in March 2024.The meeting was held at QuestorsTheatre in Ealing. Attendance
continuestoimprove.Wehadtwoguestspeakers,DanielleBrown,ParalympianandAuthor,andSally Kettle,
Inspirational speaker and Adventurer.
TheNFWIACMwasheldinJune2024,attheRoyalAlbertHall.MiddlesexFederationsent11delegatesto the
meetingalongwith3FederationRepresentativesand6WIAdvisers.Therewerealso48observerswhoattended in
person.Many of our members chose to join the meeting via TEAMS.The next two years the NFWI ACM will be online
only.
Page 2
The Middlesex Federation Of Women's
Institutes
for the Year Ended 31 August 2024
Report of the Trustees
FINANCIAL REVIEW
Financial result and reserves policy
Thecharityhasanetsurplusfortheyearof£5,439(2023:£7,002)ofwhich£4,516(2023:£7,049)wasderived from
unrestrictedreserves, and £923 (2023: (£47)) from restrictedreserves. Subscriptionscontinueto be the main source of
income beside the rent income.
Theunrestrictedreserveswhichcanbeappliedtothegeneraloperationofthecharitystandat£313,590 (2023:
£309,074), the restricted reserves stand at £4,091 (2023: £3,168) as at 31 August 2024.
Reserves policy
Thetrusteesconsiderthatthecharityshouldholdatleast£46,000tocoveremergencies,beingapproximately 18
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.
FUTURE PLANS
Themembershipyearrunsfrom1stApriluntil31stMarch.Ourmembershipnumbersas of 31stAugust2024- 1415
(31 August 2023: 1402), and continue to grow month on month.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Thecharityiscontrolledbyitsgoverningdocument,itsConstitutionasaCharitableIncorporatedOrganisation (CIO)
andtheRulesforFederationofWomen'sInstitutes.Bothofthesegoverningdocumentswererevised27th March
2021 to reflectnew ways of holdingmeetingsdigitallyandto includethe individualWI's optionto be flexibleon their
share of the subscription fees.
Recruitment and appointment of new trustees
MiddlesexmembersnominateuptotwelvememberstotheBoardtoserveasTrustees;co-optionsmaybemade if
requiredduringtheyearwiththeelectionofsuchco-optedtrusteesbeingratifiedatthenextAnnual Meeting.
Electionsfor Board members are held every three years.All Trustees work in a voluntarycapacity.The Boardmeet up
to eleven times during the year, plus one special meeting to elect officers and formulate policy.
At the beginning of the financial year in September 2023 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
Mrs Elizabeth Alcock
Mrs Elizabeth Morrell
Mrs Lorraine Reed
Mrs Celya Maxted
TheTrusteesappointuptofourofficersfromtheirnumber:Chairman,HonoraryTreasureranduptotwo Vice
Chairmen
Page 3
The Middlesex Federation Of Women's
Institutes
Report of the Trustees
for the Year Ended 31 August 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure
TheMiddlesexFederationcomprisesof42Women'sInstitutebranchesthroughouttheformercountyof Middlesex
and Greater London. Norwood Green afternoon was suspended due to lack of Officers.
Website address: www.mfwi.org.uk.
EachWIisresponsibleforrunningitsownmonthlymeetingsanditsfinances,mostWIsbeingregistered individually
with the CharityCommission.All WIs are part of the NationalFederationof WIs and are encouragedto take a full part
in their activities.
Fundingmainlycomesfromsubscriptionsanddonations.Trusteesandsub-committeemembersarepaid travelling
expenses.
WeownthebuildingatNo2TheGreen,WestDrayton,whichwasourformeroffice.Wenowleasethisto a
neighbouringDoctors'Practiceand we rent a unitat No 7 The Green, West Drayton.We buildup our reserves with a
surplusinrent.TheleaseforNo2TheGreeniscurrentlybeingheldoveratthepreviousrent,advicehaving been
soughtfromalocalestateagentinAugust2024toensurethattherentbeingaskediscomparabletothe current
marketrentsforthearea.TheleaseforNo7TheGreenwasrenewedin2016ona5-yearterm.Thelease was
renewed in January 2023 for two years and is currently in the process of being renewed until December 2025.
Approved by order of the board of trustees on 15 January 2025 and signed on its behalf by:
Mrs A M Chessman - Trustee
Page 4
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 2024.
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
23 January 2025
Page 5
The Middlesex Federation Of Women's
Institutes
Statement of Financial Activities
for the Year Ended 31 August 2024
Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
6
Charitable activities
Educational activities
15,072
Other trading activities
3
6,906
Investment income
4
15,432
Total
37,416
EXPENDITURE ON
Raising funds
5
7,229
Charitable activities
6
Educational activities
3,730
Other
21,941
Total
32,900
NET INCOME
4,516
RECONCILIATION OF FUNDS
Total funds brought forward
309,074
TOTAL FUNDS CARRIED FORWARD
313,590 |
Restricted
funds
£
-
-
897
26
923
-
-
-
-
923
3,168
4,091 |
2024
Total
funds
£
6
15,072
7,803
15,458
38,339
7,229
3,730
21,941
32,900
5,439
312,242
317,681 |
2023
Total
funds
£
3
15,513
11,614
15,052 |
|
|
|
42,182 |
|
|
|
11,246
4,000
19,934 |
|
|
|
35,180 |
|
|
|
7,002
305,240 |
|
|
|
312,242 |
CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
Page 6
The Middlesex Federation Of Women's
Institutes
Balance Sheet
31 August 2024
Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
11
610
Investment property
12
200,000
200,610
CURRENT ASSETS
Debtors
13
685
Cash at bank
117,116
117,801
CREDITORS
Amounts falling due within one year
14
(4,821)
NET CURRENT ASSETS
112,980
TOTAL ASSETS LESS CURRENT LIABILITIES
313,590
NET ASSETS
313,590
FUNDS
16
Unrestricted funds
Restricted funds
TOTAL FUNDS |
Restricted
funds
£
-
-
-
-
4,091
4,091
-
4,091
4,091
4,091 |
2024
Total
funds
£
610
200,000
200,610
685
121,207
121,892
(4,821)
117,071
317,681
317,681
313,590
4,091
317,681 |
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 |
|
|
|
|
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon15January2025 and
were signed on its behalf by:
A M Chessman - Trustee
S Endersby - Trustee
The notes form part of these financial statements
Page 7
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements
for the Year Ended 31 August 2024
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.
Computer equipment- 15% on reducing balance
Investment property
Investmentpropertyis shownatmostrecentvaluation.Anyaggregatesurplusordeficitarisingfrom changes
in fair value is recognised in the Statement of Financial Activities.
Taxation
The charity is exempt from tax on its charitable activities.
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 8
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2024
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
Donations
OTHER TRADING ACTIVITIES
Publications
Subcommittees' activities
Special efforts and other activities
200 Club
ACWW Charity collections
Conference income
Pooling income
Insurance
Events income |
2024
£
6
2024
£
425
436
1,809
999
68
2,485
662
826
93
7,803 |
2023
£
3
2023
£
331
384
1,667
1,706
259
3,185
2,284
824
974 |
|
|
11,614 |
3. OTHER TRADING ACTIVITIES
continued...
Page 9
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2024
4. INVESTMENT INCOME
INVESTMENT INCOME |
|
|
Rent receivable
Deposit account interest |
2024
£
15,000
458
15,458 |
2023
£
15,000
52 |
|
|
15,052 |
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:
|
2024 |
|
£ |
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 2025.
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 |
2024
£
292
697
1,507
218
4,098
32
385
7,229 |
2023
£
228
782
1,320
259
7,775
32
850 |
|
|
11,246 |
continued...
Page 10
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2024
6. CHARITABLE ACTIVITIES COSTS
6. |
CHARITABLE ACTIVITIES COSTS |
|
|
|
Support |
|
|
costs (see |
|
|
note 7) |
|
|
£ |
|
Educational activities |
3,730 |
7. |
SUPPORT COSTS |
|
|
|
Governance |
|
|
costs |
|
|
£ |
|
Educational activities |
3,730 |
8. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31August2024norforthe year
ended 31 August 2023.
Trustees' expenses
Trusteestravelexpenseswerereimbursedto3(2023:4)trusteesintheyearended31August2024 which
amounted to £676 (2023: £904).
9. STAFF COSTS
STAFF COSTS |
|
|
|
2024 |
2023 |
|
£ |
£ |
Wages and salaries |
6,475 |
4,944 |
|
6,475 |
4,944 |
The average monthly number of employees during the year was as follows: |
|
|
|
2024 |
2023 |
Administration |
1 |
1 |
No employees received emoluments in excess of £60,000.
continued...
Page 11
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2024
10.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
Charitable activities
Educational activities
15,513
Other trading activities
10,551
Investment income
15,044
Total
41,111
EXPENDITURE ON
Raising funds
11,099
Charitable activities
Educational activities
4,000
Other
19,934
Total
35,033
NET INCOME
6,078
Transfers between funds
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 |
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 |
continued...
Page 12
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2024
11. TANGIBLE FIXED ASSETS
COST
At 1 September 2023 and 31 August 2024
DEPRECIATION
At 1 September 2023
Charge for year
At 31 August 2024
NET BOOK VALUE
At 31 August 2024
At 31 August 2023
12.
INVESTMENT PROPERTY
FAIR VALUE
At 1 September 2023
and 31 August 2024
NET BOOK VALUE
At 31 August 2024
At 31 August 2023 |
Computer
equipment
£
956
239
107
346
610
717
£
200,000
200,000
200,000 |
|
|
TherevaluationatmarketvaluesubjecttoexistingtenancywasprovidedbyMrA C BartonofGibbs Gillespie
SurveyorsLimited,a memberof RICS,on7 December2020.Subsequently,inAugust2024,a further valuation
was providedby a local estate agent to confirmthe valuationof £200,000.The Trustees are of the opinion that
the value as at 31 August 2024 remains unchanged.
If the investment property had not been revalued it would have been included at the historical cost:
|
2024 |
2023 |
|
£ |
£ |
Cost |
10,372 |
10,372 |
|
|
|
continued...
Page 13
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2024
13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
13.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
Prepayments
14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Accrued expenses
Deferred income
Deferred income represents rent received relating to after the year end. |
2024
£
685
2024
£
3,063
1,758
4,821 |
2023
£
684 |
|
|
2023
£
3,318
1,744 |
|
|
5,062 |
|
|
|
15. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
Within one year
Between one and five years |
2024
£
7,325
611
7,936 |
2023
£
7,325
2,442 |
|
|
9,767 |
TheoperatingleaseisonUnit3,7TheGreen,WestDrayton,andwasoriginallyfor5yearsfrom1 January
2016, it was extendedon 16 February2023 for two years and is currentlyin the process of being renewed until
December 2025.
16. MOVEMENT IN FUNDS
Unrestricted funds
General fund
Fair value
Restricted funds
MFWI Bursaries
Agnes Salter Fund
NFWI Suspended
TOTAL FUNDS |
At 1.9.23
£
134,446
174,628
309,074
1,914
191
1,063
3,168
312,242 |
Net
movement
in funds
£
4,516
-
4,516
26
-
897
923
5,439 |
Transfers
between
funds
£
(15,000)
15,000
-
-
-
-
-
- |
At
31.8.24
£
123,962
189,628 |
|
|
|
|
313,590
1,940
191
1,960 |
|
|
|
|
4,091 |
|
|
|
|
317,681 |
continued...
Page 14
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2024
16. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
MFWI Bursaries
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 |
At 1.9.22
£
127,397
174,628
302,025
1,906
191
1,118
3,215
305,240 |
Incoming
resources
£
37,416
26
897
923
38,339
Net
movement
in funds
£
6,078
-
6,078
8
-
916
924
7,002 |
Resources
Movement
expended
in funds
£
£
(32,900)
4,516
-
26
-
897
-
923
(32,900)
5,439
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 |
|
|
|
|
continued...
Page 15
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2024
16. 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 |
41,111 |
(35,033) |
6,078 |
Restricted funds |
|
|
|
MFWI Bursaries |
8 |
- |
8 |
NFWI Suspended |
1,063 |
(147) |
916 |
|
1,071 |
(147) |
924 |
TOTAL FUNDS |
42,182 |
(35,180) |
7,002 |
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 1.9.22
£
127,397
174,628
302,025
1,906
191
1,118
3,215
305,240 |
Net
movement
in funds
£
10,594
-
10,594
34
-
1,813
1,847
12,441 |
Transfers
between
funds
£
(14,029)
15,000
971
-
-
(971)
(971)
- |
At
31.8.24
£
123,962
189,628 |
|
|
|
|
313,590
1,940
191
1,960 |
|
|
|
|
4,091 |
|
|
|
|
317,681 |
continued...
Page 16
The Middlesex Federation Of Women's
Institutes
Notes to the Financial Statements - continued
for the Year Ended 31 August 2024
16. MOVEMENT IN FUNDS - continued
A currentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above
are as follows:
|
Incoming |
Resources |
Movement |
|
resources |
expended |
in funds |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
78,527 |
(67,933) |
10,594 |
Restricted funds |
|
|
|
MFWI Bursaries |
34 |
- |
34 |
NFWI Suspended |
1,960 |
(147) |
1,813 |
|
1,994 |
(147) |
1,847 |
TOTAL FUNDS |
80,521 |
(68,080) |
12,441 |
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.
17. RELATED PARTY DISCLOSURES
There were no relatedpartytransactionsfor the year ended31 August2024 nor for the year ended31 August
2023.
Page 17
The Middlesex Federation Of Women's
Institutes
Detailed Statement of Financial Activities
for the Year Ended 31 August 2024
|
2024 |
2023 |
|
£ |
£ |
INCOME AND ENDOWMENTS |
|
|
Donations and legacies |
|
|
Donations |
6 |
3 |
Other trading activities |
|
|
Publications |
425 |
331 |
Subcommittees' activities |
436 |
384 |
Special efforts and other activities |
1,809 |
1,667 |
200 Club |
999 |
1,706 |
ACWW Charity collections |
68 |
259 |
Conference income |
2,485 |
3,185 |
Pooling income |
662 |
2,284 |
Insurance |
826 |
824 |
Events income |
93 |
974 |
|
7,803 |
11,614 |
Investment income |
|
|
Rent receivable |
15,000 |
15,000 |
Deposit account interest |
458 |
52 |
|
15,458 |
15,052 |
Charitable activities |
|
|
Membership fees |
15,072 |
15,513 |
Total incoming resources |
38,339 |
42,182 |
EXPENDITURE |
|
|
Raising donations and legacies |
|
|
Subcommittees' activities |
292 |
228 |
Special efforts and other activities |
697 |
782 |
200 Club |
1,507 |
1,320 |
ACWW Charity appeals and donations |
218 |
259 |
Conference expenditure |
4,098 |
7,775 |
Pooling expenditure |
32 |
32 |
Events expenditure |
385 |
850 |
|
7,229 |
11,246 |
Other |
|
|
Wages |
6,475 |
4,944 |
Carried forward |
6,475 |
4,944 |
This page does not form part of the statutory financial statements
Page 18
The Middlesex Federation Of Women's
Institutes
Detailed Statement of Financial Activities
for the Year Ended 31 August 2024
|
2024 |
2023 |
|
£ |
£ |
Other |
|
|
Brought forward |
6,475 |
4,944 |
Insurance |
1,136 |
1,120 |
Office management |
3,289 |
3,661 |
Repair and maintenance |
266 |
50 |
Rent payable |
10,188 |
9,463 |
Website expenses |
479 |
487 |
Depreciation of computer equip ment |
108 |
127 |
Loss on disposal of tangible fixed assets |
- |
82 |
|
21,941 |
19,934 |
Support costs |
|
|
Governance costs |
|
|
Trustees' expenses |
676 |
904 |
Independent examination |
2,122 |
2,163 |
Accountancy fee |
932 |
933 |
|
3,730 |
4,000 |
Total resources expended |
32,900 |
35,180 |
Net income |
5,439 |
7,002 |
This page does not form part of the statutory financial statements
Page 19