2024-03-31-accounts

WARWICKSHIRE FEDERATION OF WOMEN’S INSTITUTES

CHARITABLE INCORPORATED ORGANISATION

ANNUAL REPORTS AND ACCOUNTS

31 MARCH 2024

WARWICKSHIRE FEDERATION OF WOMEN’S INSTITUTES C.I.O.

CHARITY INFORMATION

Trustees	Susan Postlethwaite	Chair
	Angela Struthers	Treasurer
	Veronica Chapman	Vice Chair
	Glynis Forknall AnitaDudley	Vice Chair
	Julia Baker
	Ruth McCartney
	Sue Gill Anne Bloxham Claire Whitehead-Wall
Charitynumber	1185351
Address	Federation House
	1 Corunna Court
	CorunnaRoad
	Warwick
	CV345HQ
Independent Examiners	Azets Audit Service
	3Mc Middlemarch Business Park Siskin Drive COVENTRY
	Warwickshire CV34FJ
Bankers	The Co-operativeBank
	PO Box 250
	Delf House
	Skelmersdale
	WN8 6WT

WARWICKSHIRE FEDERATION OF WOMEN’S INSTITUTES C.I.O.

CONTENTS

	Page
Trusteesreport	1 - 4
Independent examiner's report	5
Statementof fnancialactivities	6-7
Schedule to the statement of fnancial activities	8
Balance sheet	9
Notes to the fnancial statements	10-16

WARWICKSHIRE FEDERATION OF WOMEN’S INSTITUTES C.I.O. Trustees Report

The Trustees present their report and accounts for the year ended 31 March 2024.

Structure, Government and Management

The Federation is constituted and governed under the Constitution and Rules for County Federations as laid down by the National Federation. The principal activity of the Charity is to further the purpose of the Women’s Institute movement in Warwickshire and elsewhere.

The Warwickshire Federation of Women’s Institutes exists for the benefit of 86 WIs within Warwickshire and is a member of the National Federation of Women’s Institutes. It offers to these WIs a mixture of events fulfilling the Values and Objects within the Constitution to educate women.

Method of Recruiting and Appointing Trustees

The management of the charity is the responsibility of the Board of Trustees who are elected biennially and co-opted under the terms of the Trust Deed. Any member of a WI belonging to the Federation is eligible to stand for election to the Board.

Public Benefit

The trustees are satisfied that the charity’s objects meet the public benefit purposes for the advancement of community development. The trustees confirm that they have taken into account the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities.

Risk Management

The Board of Trustees recognise their responsibility to address the potential risks which Warwickshire Federation may encounter. An annual review and Risk Assessment is carried out by the Federation Officers and agreed by the Board of Trustees. The major risks, in particular those relating to the operations and finances of the Trust, have been identified and the Trustees are satisfied with the overall level of risk and that systems are in place to manage or pre-empt those risks. The Federation also ensures that a Risk Assessment is undertaken for individual events and regularly reviews possible risks.

Page 1 Achievements and Performance

The Warwickshire Federation of Women’s Institutes achieved CIO status in September 2019. This was in line with the organisation’s Strategic Plan.

The Board of Trustees have continued to plan and run the finances of the organisation in line with our Charitable Objectives to ensure a sound financial footing both now and for the future years. The Strategic Plan for 2023-24 was to manage The Federation’s financial position post pandemic and during a period of increased cost of living - seen through an additional year with increased fuel and food costs and interest rate rises. We continue to try to actively increase our presence within the county by recruitment and retention of members and opening of new WIs.

The unusual events from February 2020 stemming from the Pandemic and its consequent ongoing impact still remains during 2023-24 but thankfully our predecessors had the foresight and fiscal expertise to ensure that our reserves would see us through this financial crisis and we consider this to have been managed well under the circumstances. The Board has actively pursued activities and events to continue to bring the WI community together. The Federation has received income during the financial year, but not to the amounts seen pre-pandemic, partly from looking at more affordable activities and events during this period of increased cost of living. The Board continues to review expenses at all levels. Unfortunately, 2 WIs closed during the year but many are thriving.

We have two part-time staff, Federation Office Manager and Federation Assistant Admin to help build on our past successes, provide service and support to our 3,000 members across the county and help deliver more compelling events across a wide range of activities.

We have provided training for our Treasurers and our Independent Financial Advisers and held President’s Days to share information and support WIs in learning new ideas from each other.

We have been working hard by attending numerous events within Warwickshire to raise awareness not only of our organisation, but also our campaigns and our inclusive nature.

We believe that our Federation is well placed to build on the support and enthusiasm of our membership as they become more confident in attending activities and events. We will continue to strive to build a bold and inspiring, affordable, varied, relevant and inclusive schedule of events and activities for our members in 2024-25.

Page 2

WARWICKSHIRE FEDERATION OF WOMEN’S INSTITUTES C.I.O. Trustees Report (continued)

RESULTS FOR THE YEAR

The Trustees consider that the results for the year and the financial position to be acceptable.

CHARITABLE STATUS

As stated previously the Federation became a Charitably Incorporated Organisation (CIO) in September 2019.

Charity No: 1185351

CREDITORS

It is the Federation’s policy to pay all creditors in accordance with their terms and conditions.

Page 3 WARWICKSHIRE FEDERATION OF WOMEN’S INSTITUTES C.I.O.

Trustees Report (continued)

RESERVES POLICY

The Trustees review annually the amount of free reserves held by the Federation. These should be adequate to cover working capital and a contingency for unforeseen costs. At the balance sheet date the Charity had reserves of £378,737 (2023 £368,870).

INVESTMENT POLICY

The Charity’s investments are managed by professional fund managers who have delegated authority to purchase and sell investments when recommended by the Office and Finance committee and approved by the Trustees. The charity aims to achieve the best financial return within an acceptable level of risk. The investment objective is to protect assets from inflation and maintain income in real terms. Investments may be held in a diverse range of assets classes.

Trustees	Susan Postlethwaite	Chair
	Angela Struthers	Treasurer
	Veronica Chapman	Vice Chair
	Glynis Forknall	Vice Chair – appointed
	Anita Dudley	26.7.2023
	Julia Baker
	Christine Dyer	Resigned 26.07.2023
	Ruth McCartney
	Sue Gill
	Anne Bloxham
	Claire Whitehead-Wall

On behalf of the board of Trustees

………………………………… ………………………………… Trustee Susan Postlethwaite - Chair Trustee Veronica Chapman - Vice Chair

………………………………… Trustee Glynis Forknall - Vice Chair Struthers - Treasurer

…………………………………. Trustee Angela

Page 4

WARWICKSHIRE FEDERATION OF WOMEN’S INSTITUTES C.I.O.

INDEPENDENT EXAMINER’S REPORT

TO THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

I report to the trustees on my examination of the financial statements of Warwickshire Federation of Women’s Institutes (the charity) for the year ended 31 March 2024.

Responsibilities and basis of report

As the trustees of the charity, you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Christy Commission under section 145(b) of the 2011 Act.

Independent examiner’s statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.

1. Accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or

2. The financial statements do not accord with those records; or

3. The financial statements 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 concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable to proper understanding of the financial statements to be reached.

Robert Anderson FCA Azets Audit Services 3McMiddlemarch Business Park Siskin Drive COVENTRY

Warwickshire CV3 4FJ Date …………………………

Page 5 WARWICKSHIRE FEDERATION OF WOMEN’S INSTITUTES C.I.O.

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

		2024		2023
	£	£	£	£
Unrestricted Funds
Incoming resources
Net Afliation Fees		35,430		30,312
Annual Federation Assessment		2,911		1,428
Investment Income (gross)		2,216		1,609
Grants and Donations		52		1,194
Trustee Events		15,463		15,668
Creative Activities		3,075		2,695
Leisure Activities		3,887		3,702
Membership and Promotion		1,845		487
Public Afairs		1,622		853
Warwickshire News		3,234		3,025
Adverts and Enclosures		50		72
Diaries		532		315
Stationery and Fancy Goods		817		953
Gift Aid		1,042
				_
		__		_
		72,176		62,313
		======		======
		=		=

Page 6

WARWICKSHIRE FEDERATION OF WOMEN’S INSTITUTES C.I.O.

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

Resources expended	2024		2023
Wages and Salaries	14,895		13,014
Tax and National	24		18
Insurance
Rates and Water	4,055		2,818
Electricity	1,594		1,660
Ofce Equipment and	3,574		3,741
Maintenance
Web Site	2,294		1,642
Printing and Stationery	842		1,198
Postage and Telephone	1,747		3,406
Building Maintenance and	5,444		6,512
Repair
Donation	150		55
Trustee Events	9,390		31,152
Creative Activities	1,634		2,889
Leisure Activities	1,768		2,887
Membership and	861		962
Promotion
Public Afairs	1,372		614
Warwickshire News	1,350		984
Stationery and Fancy	421		656
Goods
Diaries	399		341
	_	_	_	_
		(51,814)		(74,549
				)
Management and		(16,210)		(15,180
administration				)
		_		_
Net incoming resources		4,152		(27,416
				)
Gains/(Losses) on		5,715		(6,393)
investment assets
		_		_
Net movement in funds		9,867		(33,809
				)
		======		====
		=		===

Page 7

WARWICKSHIRE FEDERATION OF WOMEN’S INSTITUTES C.I.O.

SCHEDULE TO THE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

SCHEDULE TO THE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024	SCHEDULE TO THE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024	SCHEDULE TO THE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
_______________
	2024	2023
	£	£
Management and administration
Insurance	3,935	2,688
Accountancy	4,865	4,474
Depreciation on leasehold property	5,434	5,434
Depreciation on ofce equipment	1,976	1,976
Charges on investments	_	608
	______	_
	16,210	15,180
	======	======
		=

Page 8

WARWICKSHIRE FEDERATION OF WOMEN’S INSTITUTES C.I.O.

BALANCE SHEET AS AT 31 MARCH 2024

		Note s	Note s	Note s		2024		2023
				£		£	£	£
	Fixed assets
	Tangible assets		2			166,936		174,346
	Investments		3			60,859		55,144
						__		__
						227,795		229,490
	Current assets
	Stock:
	Stationery			409			522
	Fancy Goods			1,012			799
	Cookery Books			242			304
	Centenary Brooches			2,335			2,370
	Centenary Celebration Items			291			432
	Other Debtors			12,251			6,644
	Current Account No. 1			28,722			48,083
	Current Account No: 2			18,051			16,107
	Charity 2-year Bond			25,000			-
	Building Fund			32,906			32,786
	Shawbrook Bank			56,122			55,792
	Cash in Hand			755			302
				_			_
				178,096			164,141
	Creditors: amounts falling due
	within one year		6	(27,154)			(24,761)
				__			__
	Net current assets					150,942		139,380
						__		__
	Total assets less current liabilities					378,737		368,870
						====== =		===== ==
	Funds of the charity
	Total funds		7			345,831		336,084
	Designated funds					32,906		32,786
						__		_
						378,737		368,870
						====== =		===== =

The financial statements were approved by the trustees on

………………………………… ………………………………… Trustee Susan Postlethwaite - Chair Trustee Veronica Chapman - Vice Chair

………………………………… …………………………………. Trustee Glynis Forknall - Vice Chair Trustee Angela Struthers - Treasurer

Page 9 WARWICKSHIRE FEDERATION OF WOMEN’S INSTITUTES C.I.O.

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. Accounting policies

Charity information

Warwickshire Federation of Women’s Institutes is a charitable incorporated organisation (CIO) registered in England and Wales. The registered office is Federation House, 1 Corunna Court, Corunna Road, Warwick, CV34 5HQ.

The charity was registered with the Charity Commission on the 19 September 1993 and converted to CIO in September 2019 when the assets and liabilities of Warwickshire Federation of Women’s Institute were transferred to the CIO.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity’s (governing document), the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)”. The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved the following Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Page 10 WARWICKSHIRE FEDERATION OF WOMEN’S INSTITUTES C.I.O.

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1.2 Going concern

• At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

• Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4

Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised when received.

1.5 Expenditure

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probably that the settlement will be

required and the amount of the obligation can be measured reliably.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost of valuation, net of depreciation and any impairment losses. Any minor purchases of furniture or equipment are written off to the Statement of Financial Activities and no further depreciation will be provided.

Page 11

WARWICKSHIRE FEDERATION OF WOMEN’S INSTITUTES C.I.O.

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings Over 50 years Office Equipment Over 4 years

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Charges in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of it tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, depots held at call with baks, other short-term liquid investments with original maturities of three months or less, and bank

overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity’s balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to se off the recognised amounts and there is an intention to settle on the net basis or to realise the asset and settle the liability simultaneously.

Page 12

WARWICKSHIRE FEDERATION OF WOMEN’S INSTITUTES C.I.O.

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

Basis financial assets

Basic financial assets, which includes debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquire in the ordinary course of operations

from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities Financial liabilities are derecognised with the charity’s contractual obligations expire or are discharged or cancelled.

Page 13 WARWICKSHIRE FEDERATION OF WOMEN’S INSTITUTES C.I.O.

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. Tangible fixed assets

Tangible fxed assets
	Ofce	Land and	Total
	Equipment	Buildings
	£	£	£
Cost
At 1 April 2023	12,453	271,715	284,168
	______	_	_
At 31 March 2024	12,453	271,715	284,168
	======	======= =	==== ===
Depreciation
At 1 April 2023	8,838	100,984	109,821
Charge for the year	1,976	5,434	7,410
	______	______	______
At 31 March 2024	10,814	106,418	117,231
	======	======	==== ==
Net book value
At31 March 2024	1,639	165,297	166,936
	=======	=======	====

3.				===
	At 31 March 2023	3,614	170,732	174,346
		=======	=======	==== ===
	Investments 2024 2023 Market value as at 1 April 2023 55,144 61,975 Acquisitions at cost - 61,552 Sales proceeds - (59,634) (Losses)/Gains in year 5,715 (6,393) Capitalaccount movement - (2,356) _ _ Market value as at31 March 2024 60,859 55,144 ======= ====== = Historical cost as at 31 March 2024 55,919 55,919 The Investments are listed ======= ====== =

4. Staff and trustee’s remuneration No employee earned more than £60,000 - Trustees remuneration nil (2023 – nil) - Trustees expenses nil (2023 – nil)

Page 14 WARWICKSHIRE FEDERATION OF WOMEN’S INSTITUTES C.I.O.

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

5. Employees Number of Employees

2024 2023 Number Number Administration 2 2 ===== ===== Employment costs 2024 2023 Wages and salaries 14,895 13,014 Socialsecurity costs 24 18 __ _ 14,919 13,032 ===== ===== 6. Creditors 2024 2023 Other Creditors 27,154 24,761 _ ____ 27,154 24,761		2024	2023
		Number	Number
	Administration	2	2
		=====	=====
	Employment costs	2024	2023
	Wages and salaries	14,895	13,014
	Socialsecurity costs	24	18
		______	______
		14,919	13,032
		=====	=====
		2024	2023
	Other Creditors	27,154	24,761
		_	_
		27,154	24,761

======= ====== =

7. Analysis of net assets between funds

	Unrestric	Designa	Total	Total
	ted	ted
	Fund	Fund	Funds	Funds
			2024	2023
Investments	60,859	-	60,859	55,144
Fixed Assets	166,936	-	166,936	174,346
Current Assets	145,190	32,906	178,096	164,141
Current	(27,154)	-	(27,154)	(24,761)
liabilities
	_	_	_	_
	345,831	32,906	378,737	368,870
	======	=====	=====	=====
	=	==	==	==

The Designated fund represents funds set aside to cover the cost of building repairs.

Page 15 WARWICKSHIRE FEDERATION OF WOMEN’S INSTITUTES C.I.O.

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

8. Movements in funds

Movements in funds
		2024	2023
Total funds		£	£
Balance as at 31 March		368,870	402,679
Net movement in funds		9,867	(33,809)
		_	_
		378,737	368,870
		======	======

9. Related party transaction

There were no disclosable related party transactions (2023 – none).

10. Independent examiner

The amount of fees paid to the independent examiner £2,400 (2023 - £2,200).

11. Funds on behalf of other

As of 31/03/2024 the charity held fund of £13,310 (2023 - £12,196) for suspended WI’s

Page 16