Charity registration number: 1191427
## The Devon Federation of Women's Institutes
(A Charitable Incorporated Organisation) Annual Report and Financial Statements for the Year Ended 31 October 2022
Smart Accounting & Tax Solutions LLP 74A Station Road East Oxted Surrey RH8 0PG
## **The Devon Federation of Women's Institutes**
## **Contents**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 7|
|Independent Examiner's Report|8|
|Statement of Financial Activities|9 to 10|
|Balance Sheet|11 to 12|
|Notes to the Financial Statements|13 to 27|
## **The Devon Federation of Women's Institutes**
## **Reference and Administrative Details**
**Charity Registration Number** 1191427 **Registered Office** The Firs Honiton Road Clyst Honiton Exeter Devon EX5 2FT **Independent Examiner** Smart Accounting & Tax Solutions LLP 74A Station Road East Oxted Surrey RH8 0PG
Page 1
## **The Devon Federation of Women's Institutes**
## **Trustees' Report**
The Trustees present the annual report together with the financial statements of the charitable incorporated organisation for the year ended 31 October 2022.
## **Objectives and activities**
## _**Objects and aims**_
- The aims of the Devon Federation of Women’s Institutes are and will continue to be: - To provide support, guidance and advice to Women’s Institutes in Devon, and
- To further the purposes of the Women’s Institutes movement in Devon and elsewhere,
## _**Public benefit**_
The Women’s Institute is non-sectarian, non-party political and offers all women the opportunity to enjoy friendship and lifelong learning to widen their horizons and, together, influence local, national, and international affairs in accordance with the Constitution and Rules of the Women’s Institute.
The Trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Page 2
## **The Devon Federation of Women's Institutes**
## **Trustees' Report**
## **Achievements and performance**
The period covered in these accounts has proved to be challenging. We had hoped that the post lockdown era where life was opening up would give many opportunities for WIs to meet and for the Federation to organize events. However the impact from the pandemic has affected individuals and WIs in many ways and has affected all areas of WI life. In particular across the county we have lost many WIs as the stalwart officers felt they had no more to give and it was difficult to recruit replacements. Equally, many individuals had a different approach to life and wanted a social gathering without the close tie to the national WI organization.
In the Federation, and in many WIs, we note that attendance at physical events was lower than in the past. It took longer for some people to feel confident in group situations. This had an impact on the events we planned. It was clear that those events in the open air such as walks and birdwatching cruises were far more popular than indoor events. As many were oversubscribed we had to adapt and rebook to try and meet all requests.
In the Federation life has not returned to pre pandemic normality as we have had to scrutinise our expenditure and realise that travel expenses across the county can become a drain on our shrinking resources. Zoom remains embedded in our planning as we ration the in-person meetings to ensure the best value for money. Whether it is Board of Trustee or committee meetings there are fewer face to face meetings at The Firs.
The pandemic changed our use of Devon News as many WIs chose to have the free online version only. Postage rates have increased and we try to restrict the amount that is posted as this has a huge cost to the Federation and to individual WIs.
Across the Federation we continue to explore ways to be more efficient with money. However with the uncertainty of membership fees and with less physical events our budget planning was indicating that we would have a significant shortfall, especially as the income from affiliation fees (our main income stream) was affected by the loss of members across the county.
Successful events included our Annual Carol concert that was reinstated in 2021, the Pamper Days run by Sport and Leisure Committee and lunches run by Food, Craft and Skills and by International and Public Affairs Committees. However many other planned events were abandoned due to lack of take-up and this continues to have a detrimental affect on finance.
Page 3
## **The Devon Federation of Women's Institutes**
## **Trustees' Report**
## **Financial review**
While our overall income is higher than the previous year so is our total expenditure which has caused a loss in the unrestricted portion of our accounts. This has also been affected by the volatile financial market in the period. Without a significant restricted income from Suspended WIs that we are unable to use or access we would have a much clearer deficit in our accounts.
Total expenditure has increased as committees look to put on events and Advisers travel to support their WIs.
At 31 October 2022 the total Federation funds show an increase of £19,908 but as stated much of this is restricted or endowment income. Without this income our predicted budget in the period would show an overall loss and a need to realise some of our investments would have been the case. As we move ahead to planning more in person events we hope that the situation will improve. However without significant changes the Federation will have a shortfall in the near future.
## _**Policy on reserves**_
The Trustees policy is to hold sufficient free reserves to do the following:
- Operate for at least eighteen months should there be a downturn in income from investments, loss of membership or other events incurring loss of income,
- To update office equipment and provide training as required,
- To enable Advisors to support all WIs,
Our policy to hold substantial reserves is continuing to hold us in good stead as we continue to manoeuvre through uncertainties.
## _**Investment policy and objectives**_
The Trustee's attitude to investment risk is cautious and investments are reviewed twice yearly with an Independent Financial Adviser, the Brokers and the Trustees. The Federation holds insurance to cover public liability, employers' liability and personal liability which is reviewed annually to ensure that sufficient cover is maintained and all legislative requirements are met.
Page 4
## **The Devon Federation of Women's Institutes**
## **Trustees' Report**
## **Trustees and officers**
The Trustees and Officers serving during the year and since the year end were as follows:
Trustees: J Bufton (resigned 15 February 2022) J Connolly C Evans (resigned 11 September 2022) E Gibbins (resigned 26 March 2022) P Keane R Matterface S Mitchell R Nebbett M Rhodes S Shorthouse A Swain E Watson A Bache, (Ex Officio)
## **Structure, governance and management**
## _**Nature of governing document**_
The Devon Federation of Women's Institutes is governed by the Constitution and Rules for County Federations as defined by the National Federation of Women’s Institutes. The Federation registered as a Charitable Incorporated Organisation (CIO) on 22nd September 2020 and began operating though the CIO on 1st November 2020.
## _**Recruitment and appointment of Trustees**_
Up to twelve Trustees are elected biennially by members of the Women’s Institutes across Devon and up to a third of their number can be additionally co-opted. The chairman and officers are elected annually by the Board of Trustees. Trustees must meet at least five times a year, but normally it is eleven, to discuss Federation and National matters and to take decisions. All trustees are provided with a comprehensive file with relevant policies and guidelines which are kept under constant review.
## _**Arrangements for setting key management personnel remuneration**_
No Trustees are remunerated.
Page 5
## **The Devon Federation of Women's Institutes**
## **Trustees' Report**
## _**Organisational structure**_
The offices of the Federation are at The Firs, Blackhorse on the outskirts of Exeter, where we employ three part time staff. The building is owned by the Federation and administered from there.
Throughout this period the building has not been used to its potential as at many times the staff had to work from home and it has not been possible to hold regular meetings or training there.
## **Statement of Trustees' responsibilities**
The Trustees (who are also the directors of The Devon Federation of Women's Institutes for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The Trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Page 6
## **The Devon Federation of Women's Institutes**
## **Trustees' Report**
The annual report was approved by the Trustees of the Charity on 5 March 2023 and signed on its behalf by:
......................................... ......................................... M Rhodes E Watson Trustee Chairman and Trustee
Page 7
## **The Devon Federation of Women's Institutes**
## **Independent Examiner's Report to the trustees of The Devon Federation of Women's Institutes ('the Company')**
I report to the Charity Trustees on my examination of the accounts of the Charitable Incorporated Organisation (CIO) for the year ended 31 October 2022.
## **Responsibilities and basis of report**
As the Charity’s Trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’).
Having satisfied myself that the accounts of The Devon Federation of Women's Institutes are not required to be audited and are eligible for independent examination, I report in respect of my examination of your Charity’s accounts as carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner’s statement**
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:
1. accounting records were not kept in respect of The Devon Federation of Women's Institutes as required by section 130 of the 2011 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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 a proper understanding of the accounts to be reached.
...................................... Andrew McKenzie-Smart Smart Accounting and Tax Solutions LLP
74A Station Road East Oxted Surrey RH8 0PG
21 March 2023
Page 8
## **The Devon Federation of Women's Institutes**
## **Statement of Financial Activities for the Year Ended 31 October 2022 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)**
|**Note**
**Income and Endowments from:**
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investment income
6
Other income
7
Total income
**Expenditure on:**
Raising funds
8
Charitable activities
9
Other expenditure
10
Total expenditure
Gains/losses on
investment assets
Net (expenditure)/income
Transfers between funds
Net movement in funds
**Reconciliation of funds**
Total funds brought
forward
Total funds carried
forward
21|**Unrestricted**
**funds**
**£**
404
50,569
61,716
5,655
3,968
122,312
(131,082)
(12,885)
(9,244)
(153,211)
(12,261)
(43,160)
(1,726)
(44,886)
532,198
487,312|**Restricted**
**funds**
**£**
77,038
-
-
-
-
77,038
-
-
-
-
-
77,038
(451)
76,587
29,523
106,110|**Endowment**
**funds**
**£**
-
-
-
-
-
-
(1,709)
-
-
(1,709)
(12,261)
(13,970)
2,177
(11,793)
122,132
110,339|**Total**
**2022**
**£**
77,442
50,569
61,716
5,655
3,968|
|---|---|---|---|---|
|||||199,350|
|||||(132,791)
(12,885)
(9,244)|
|||||(154,920)
(24,522)|
|||||19,908
-|
|||||19,908
683,853|
|||||703,761|
The notes on pages 13 to 27 form an integral part of these financial statements. Page 9
## **The Devon Federation of Women's Institutes**
## **Statement of Financial Activities for the Year Ended 31 October 2022 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)**
|**Note**
**Income and Endowments from:**
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investment income
6
Other income
7
Total income
**Expenditure on:**
Raising funds
8
Charitable activities
9
Other expenditure
10
Total expenditure
Gains/losses on
investment assets
Net (expenditure)/income
Transfers between funds
Net movement in funds
**Reconciliation of funds**
Total funds brought
forward
Total funds carried
forward
21|**Unrestricted**
**funds**
**£**
-
48,647
29,268
6,059
5,866
89,840
(102,122)
(5,630)
(12,071)
(119,823)
22,561
(7,422)
2,593
(4,829)
537,027
532,198|**Restricted**
**funds**
**£**
19,315
-
-
-
-
19,315
-
-
-
-
-
19,315
(1,169)
18,146
11,377
29,523|**Endowment**
**funds**
**£**
-
-
-
-
-
-
(1,729)
-
-
(1,729)
21,246
19,517
(1,424)
18,093
104,039
122,132|**Total**
**2021**
**£**
19,315
48,647
29,268
6,059
5,866|
|---|---|---|---|---|
|||||109,155|
|||||(103,851)
(5,630)
(12,071)|
|||||(121,552)
43,807|
|||||31,410
-|
|||||31,410
652,443|
|||||683,853|
All of the Charity's activities derive from continuing operations during the above two periods.
The notes on pages 13 to 27 form an integral part of these financial statements. Page 10
## **The Devon Federation of Women's Institutes**
## **(Registration number: ) Balance Sheet as at 31 October 2022**
|**Note**
**Fixed assets**
Tangible assets
15
Investments
16
**Current assets**
Stocks
17
Debtors
18
Cash at bank and in hand
19
**Creditors: Amounts falling due within one year**
20
**Net current assets**
**Net assets**
**Funds of the Charity:**
**Endowment funds**
**Restricted income funds**
Restricted funds
**Unrestricted income funds**
Unrestricted funds
**Total funds**
21|**2022**
**£**
376,895
216,101
592,996
3,705
1,037
122,496
127,238
(16,473)
110,765
703,761
110,339
106,110
487,312
703,761|**2021**
**£**
386,139
244,180|
|---|---|---|
|||630,319|
|||4,732
1,307
54,747|
|||60,786
(7,252)|
|||53,534|
|||683,853|
|||122,132
29,523
532,198|
|||683,853|
The notes on pages 13 to 27 form an integral part of these financial statements. Page 11
## **The Devon Federation of Women's Institutes**
## **(Registration number: ) Balance Sheet as at 31 October 2022**
For the financial year ending 31 October 2022 the Charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the Charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements on pages 9 to 27 were approved by the Trustees, and authorised for issue on 5 March 2023 and signed on their behalf by:
......................................... M Rhodes Trustee
......................................... E Watson Chairman and Trustee
The notes on pages 13 to 27 form an integral part of these financial statements. Page 12
## **The Devon Federation of Women's Institutes**
## **Notes to the Financial Statements for the Year Ended 31 October 2022**
## **1 Charity status**
The Charity is limited by guarantee, incorporated in England and Wales , and consequently does not have share capital. Each of the Trustees is liable to contribute an amount not exceeding £1 towards the assets of the Charity in the event of liquidation.
The address of its registered office is: The Firs Honiton Road Clyst Honiton Exeter Devon EX5 2FT
These financial statements were authorised for issue by the Trustees on 5 March 2023.
## **2 Accounting policies**
## **Summary of significant accounting policies and key accounting estimates**
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
## **Statement of compliance**
The financial statements have been prepared in accordance with 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
## **Basis of preparation**
The Devon Federation of Women's Institutes meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## **Going concern**
The Trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the Charity.
Page 13
## **The Devon Federation of Women's Institutes**
## **Notes to the Financial Statements for the Year Ended 31 October 2022**
## **Income and endowments**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
## _**Donations and legacies**_
Donations are recognised when the Charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the Charity before the Charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
## _**Investment income**_
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
## _**Raising funds**_
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **Support costs**
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Page 14
## **The Devon Federation of Women's Institutes**
## **Notes to the Financial Statements for the Year Ended 31 October 2022**
## **Governance costs**
These include the costs attributable to the Charity’s compliance with constitutional and statutory requirements, including audit, strategic management and Trustees’s meetings and reimbursed expenses.
## **Taxation**
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a Charitable Company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **Tangible fixed assets**
Individual fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
## **Depreciation and amortisation**
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
**Asset class Depreciation method and rate** Land and buildings 2% Straight line Equipment, furniture and fittings 25% Straight line
## **Fixed asset investments**
Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.
## **Stock**
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO).
Page 15
## **The Devon Federation of Women's Institutes**
## **Notes to the Financial Statements for the Year Ended 31 October 2022**
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the Trustees discretion in furtherance of the objectives of the Charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
The endowment funds are where the capital was received for investment purposes. There are no restrictions on the use of income from these funds.
## **3 Income from donations and legacies**
|Donations and legacies;
Donations from individuals
Donations from suspended
WIs|**Unrestricted**
**funds**
**General**
**£**
404
-
404|**Restricted**
**funds**
**£**
-
77,038
77,038|**Total**
**2022**
**£**
404
77,038
77,442|**Total**
**2021**
**£**
-
19,315|
|---|---|---|---|---|
|||||19,315|
## **4 Income from charitable activities**
|Membership income
Training
Training by advisers|**Unrestricted**
**funds**
**General**
**£**
49,919
-
650
50,569|**Total**
**2022**
**£**
49,919
-
650
50,569|**Total**
**2021**
**£**
48,627
10
10|
|---|---|---|---|
||||48,647|
Page 16
## **The Devon Federation of Women's Institutes**
## **Notes to the Financial Statements for the Year Ended 31 October 2022**
## **5 Income from other trading activities**
|Trading income;
Sales - Calendars
Sales - Stationery
Sales - 2020 mugs
Sales - Speaker book
Sales - Devon WI News
Sales - Diaries
Recovery - Postage Devon WI News
Events income;
Events income
**6 Investment income**
Interest receivable and similar income;
Interest receivable on bank deposits
Other income from fixed asset investments|**Unrestricted**
**funds**
**General**
**£**
4
211
830
66
7,413
3,101
3,654
46,437
61,716
**Unrestricted**
**funds**
**General**
**£**
27
5,628
5,655|**Total**
**2022**
**£**
4
211
830
66
7,413
3,101
3,654
46,437
61,716
**Total**
**2022**
**£**
27
5,628
5,655|**Total**
**2021**
**£**
915
463
1,060
35
1,769
-
-
25,026|
|---|---|---|---|
||||29,268|
||||**Total**
**2021**
**£**
-
6,059|
||||6,059|
Page 17
## **The Devon Federation of Women's Institutes**
## **Notes to the Financial Statements for the Year Ended 31 October 2022**
## **7 Other income**
|NFWI raffle income
300+ club
Postage recovery
Insurance recovery
Other income
NFWI subscriptions
Pooling of fares
Delegates accommodation|**Unrestricted**
**funds**
**General**
**£**
504
755
199
2,468
38
4
-
-
3,968|**Total**
**2022**
**£**
504
755
199
2,468
38
4
-
-
3,968|**Total**
**2021**
**£**
845
515
411
1,381
2,045
-
544
125|
|---|---|---|---|
||||5,866|
## **8 Expenditure on raising funds**
## **a) Costs of trading activities**
|**Note**
Costs of goods sold
Events and conferences
Allocated support costs
11
**Note**
Costs of goods sold
Events and conferences
Allocated support costs
11|**Unrestricted**
**funds**
**General**
**£**
3,949
41,351
-
45,300
**Unrestricted**
**funds**
**General**
**£**
6,106
22,818
-
28,924|**Endowment**
**funds**
**Permanent**
**£**
-
-
1,709
1,709
**Endowment**
**funds**
**Permanent**
**£**
-
-
1,729
1,729|**Total**
**2022**
**£**
3,949
41,351
1,709|
|---|---|---|---|
||||47,009|
||||**Total**
**2021**
**£**
6,106
22,818
1,729|
||||30,653|
Page 18
## **The Devon Federation of Women's Institutes**
## **Notes to the Financial Statements for the Year Ended 31 October 2022**
## **b) Other costs**
|**Note**
Legal fees
Wages and salaries
Staff pensions (Defined contribution)
Water rates
Light, heat and power
Insurance
Repairs and maintenance
Telephone and fax
Printing, postage and stationery
Trade subscriptions
Hire of other assets (Operating leases)
Sundry expenses
Office general
Office running costs|**Unrestricted**
**funds**
**General**
**£**
7,399
44,387
4,430
450
2,852
3,315
8,135
2,441
5,607
279
1,834
2,419
376
1,858
85,782|**Total**
**2022**
**£**
7,399
44,387
4,430
450
2,852
3,315
8,135
2,441
5,607
279
1,834
2,419
376
1,858
85,782|**Total**
**2021**
**£**
5,581
42,266
4,424
215
1,446
3,679
1,601
1,874
6,281
217
1,993
1,385
473
1,763|
|---|---|---|---|
||||73,198|
Page 19
## **The Devon Federation of Women's Institutes**
## **Notes to the Financial Statements for the Year Ended 31 October 2022**
## **9 Expenditure on charitable activities**
|**Note**
Devon WI News
Workshop costs
ACWW
Subcommittee travelling
Federation travel
Advisers travel
Subcommittee general
Governance costs
11
**10Other expenditure**
**Note**
Depreciation, amortisation and other
similar costs|**Unrestricted**
**funds**
**General**
**£**
4,606
1,667
255
1,332
666
2,170
779
1,410
12,885
**Unrestricted**
**funds**
**General**
**£**
9,244
9,244|**Total**
**2022**
**£**
4,606
1,667
255
1,332
666
2,170
779
1,410
12,885
**Total**
**2022**
**£**
9,244
9,244|**Total**
**2021**
**£**
1,506
2,236
-
532
85
376
83
812|
|---|---|---|---|
||||5,630|
||||**Total**
**2021**
**£**
12,071|
||||12,071|
Page 20
## **The Devon Federation of Women's Institutes**
## **Notes to the Financial Statements for the Year Ended 31 October 2022**
## **11Analysis of governance and support costs**
## **Governance costs**
|Board travel
Training of volunteers|**Unrestricted**
**funds**
**General**
**£**
780
630
1,410|**Total**
**2022**
**£**
780
630
1,410|**Total**
**2021**
**£**
262
550|
|---|---|---|---|
||||812|
## **12Net incoming/outgoing resources**
Net incoming/(outgoing) resources for the year include:
|Loss on disposal of fixed assets held for the Charity's own use
Depreciation of fixed assets|**2022**
**£**
-
9,244|**2021**
**£**
85
11,986|
|---|---|---|
## **13Trustees remuneration and expenses**
During the year the Charity made the following transactions with Trustees:
£278 (2021: £262) of expenses were reimbursed to during the year.
No Trustees, nor any persons connected with them, have received any remuneration from the Charity during the year.
## **14Taxation**
The Charity is a registered charity and is therefore exempt from taxation.
## **15Tangible fixed assets**
Page 21
## **The Devon Federation of Women's Institutes**
## **Notes to the Financial Statements for the Year Ended 31 October 2022**
|**Cost**
At 1 November 2021
At 31 October 2022
**Depreciation**
At 1 November 2021
Charge for the year
At 31 October 2022
**Net book value**
At 31 October 2022
At 31 October 2021|**Land and**
**buildings**
**£**
448,560
448,560
62,767
8,971
71,738
376,822
385,793|**Furniture**
**and**
**equipment**
**£**
16,317
16,317
15,971
273
16,244
73
346|**Total**
**£**
464,877|
|---|---|---|---|
||||464,877|
||||78,738
9,244|
||||87,982|
||||376,895|
||||386,139|
Page 22
## **The Devon Federation of Women's Institutes**
## **Notes to the Financial Statements for the Year Ended 31 October 2022**
## **16Fixed asset investments**
## **Other investments**
|**Cost or Valuation**
At 1 November 2021
Revaluation
Additions
Disposals
At 31 October 2022
**Net book value**
At 31 October 2022
At 31 October 2021|**Listed**
**investments**
**£**
244,180
(24,521)
48,201
(51,759)
216,101
216,101
244,180|**Total**
**£**
244,180
(24,521)
48,201
(51,759)|
|---|---|---|
|||216,101|
|||216,101|
|||244,180|
The market value of the listed investments at 31 October 2022 was £216,101.
Individual holdings representing more than 5% of the market value at the balance sheet date are:
CT Investments Funds (UK) ICVC CT UK Equity Income £14,856 (2021 : £15,929)
## **17Stock**
|**17Stock**|||
|---|---|---|
|Stocks
**18Debtors**
Prepayments
Other debtors|**2022**
**£**
3,705
**2022**
**£**
534
503
1,037|**2021**
**£**
4,732|
|||**2021**
**£**
1,307
-|
|||1,307|
Page 23
## **The Devon Federation of Women's Institutes**
## **Notes to the Financial Statements for the Year Ended 31 October 2022**
|**19Cash and cash equivalents**
Cash on hand
Cash at bank
Short-term deposits
**20Creditors: amounts falling due within one year**
Accruals|**2022**
**£**
26
117,890
4,580
122,496
**2022**
**£**
16,473|**2021**
**£**
51
50,143
4,553|
|---|---|---|
|||54,747|
|||**2021**
**£**
7,252|
Page 24
## **The Devon Federation of Women's Institutes**
## **Notes to the Financial Statements for the Year Ended 31 October 2022**
|**21Funds**
**Unrestricted funds**
General
**Restricted funds**
Suspended WIs Fund
Bursaries Fund
**Restricted funds**
**Endowment funds**
Permanent
**Total funds**|**Balance at 1**
**November**
**2021**
**£**
532,198
18,829
10,694
29,523
122,132
683,853|**Incoming**
**resources**
**£**
122,312
77,038
-
77,038
-
199,350|**Resources**
**expended**
**£**
(153,211)
-
-
-
(1,709)
(154,920)|**Transfers**
**£**
**Other**
**recognised**
**gains/(losses)**
**£**
(1,726)
(12,261)
(451)
-
-
-
(451)
-
2,177
(12,261)
-
(24,522)|**Balance at**
**31 October**
**2022**
**£**
487,312|
|---|---|---|---|---|---|
||||||95,416
10,694|
||||||106,110
110,339|
||||||703,761|
Page 25
## **The Devon Federation of Women's Institutes**
## **Notes to the Financial Statements for the Year Ended 31 October 2022**
The specific purposes for which the funds are to be applied are as follows:
Suspended WIs Fund. When a WI suspends the funds it held at suspension are retained for three year so they are available for use by a new WI that forms in the same area or if the WI reforms the funds will be returned to the WI. After three years the funds are transferred to the Federation and can be used by the Federation.
Bursaries Fund. Some WIs had raised money for Denman college before it closed in 2020. These WIs have requested that the money was not returned to them after the college's closure but held by the Federation to be used for bursaries for Denman Trust courses in the future. The Federation also holds other funds which are to be used as bursaries
Denman funds £1,694
Diamond Jubilee Fund £450 Miss A M Brown Fund £500 Mrs D Earle Fund £400
Mr D Gould Fund £2,000 Joan Rudd Fund £5,000 Bursary Fund £650
Permanent Endowment Fund. These funds were invested following a fund raising appeal. The money was raised to provide investments to generate income for the Federaion. The income can be used for any purpose, but the capital must remain invested.
Page 26
## **The Devon Federation of Women's Institutes**
## **Notes to the Financial Statements for the Year Ended 31 October 2022**
## **22Analysis of net assets between funds**
|Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Total net assets|**Unrestricted**
**funds**
**General**
**£**
376,895
108,050
18,839
(16,473)
487,311
**Unrestricted**
**funds**
**General**
**£**
386,139
126,485
26,827
(7,252)
532,199|**Restricted**
**funds**
**£**
-
-
106,110
-
106,110
**Restricted**
**funds**
**£**
-
-
29,523
-
29,523|**Endowment**
**funds**
**Permanent**
**£**
-
108,051
2,289
-
110,340
**Endowment**
**funds**
**Permanent**
**£**
-
117,695
4,436
-
122,131|**Total funds**
**at 31**
**October**
**2022**
**£**
376,895
216,101
127,238
(16,473)|
|---|---|---|---|---|
|||||703,761|
|||||**Total funds**
**at 31**
**October**
**2021**
**£**
386,139
244,180
60,786
(7,252)|
|||||683,853|
Page 27
## **The Devon Federation of Women's Institutes**
## **Statement of Financial Activities by fund for the Year Ended 31 October 2022**
## **Unrestricted Funds**
||**Total**|**Total**|
|---|---|---|
||**Unrestricted**
**Unrestricted**||
||**Funds**|**Funds**|
||**2022**|**2021**|
||**£**|**£**|
|**Income and Endowments from:**|||
|Donations and legacies|404|-|
|Charitable activities|50,569|48,647|
|Other trading activities|61,716|29,268|
|Investment income|5,655|6,059|
|Other income|3,968|5,866|
|Total income|122,312|89,840|
|**Expenditure on:**|||
|Raising funds|(131,082)|(102,122)|
|Charitable activities|(12,885)|(5,630)|
|Other expenditure|(9,244)|(12,071)|
|Total expenditure|(153,211)|(119,823)|
|Net expenditure|(30,899)|(29,983)|
|Transfers between funds|(1,726)|2,593|
|**Other recognised gains and losses**|||
|Other gains/losses|(12,261)|22,561|
|Net movement in funds|(44,886)|(4,829)|
|**Reconciliation of funds**|||
|Funds transferred to entity|532,198|537,027|
|Total funds carried forward|487,312|532,198|
This page does not form part of the statutory financial statements. Page 28
## **The Devon Federation of Women's Institutes**
## **Statement of Financial Activities by fund for the Year Ended 31 October 2022**
## **Restricted Funds**
|**Restricted Funds**|||
|---|---|---|
|**Income and Endowments from:**
Donations and legacies
Total income
**Expenditure on:**
Net income
Transfers between funds
Net movement in funds
**Reconciliation of funds**
Funds transferred to entity
Total funds carried forward|**Total**
**Restricted**
**Funds**
**2022**
**£**
77,038
77,038
77,038
(451)
76,587
29,523
106,110|**Total**
**Restricted**
**Funds**
**2021**
**£**
19,315|
|||19,315|
|||19,315
(1,169)|
|||18,146
11,377|
|||29,523|
This page does not form part of the statutory financial statements. Page 29
## **The Devon Federation of Women's Institutes**
## **Statement of Financial Activities by fund for the Year Ended 31 October 2022**
## **Endowment Funds**
||**Total**|**Total**|
|---|---|---|
||**Endowment**|**Endowment**|
||**Funds**|**Funds**|
||**2022**|**2021**|
||**£**|**£**|
|**Income and Endowments from:**|||
|**Expenditure on:**|||
|Raising funds|(1,709)|(1,729)|
|Total expenditure|(1,709)|(1,729)|
|Net expenditure|(1,709)|(1,729)|
|Transfers between funds|2,177|(1,424)|
|**Other recognised gains and losses**|||
|Other gains/losses|(12,261)|21,246|
|Net movement in funds|(11,793)|18,093|
|**Reconciliation of funds**|||
|Total funds brought forward|122,132|104,039|
|Total funds carried forward|110,339|122,132|
This page does not form part of the statutory financial statements. Page 30
## **The Devon Federation of Women's Institutes**
## **Detailed Statement of Financial Activities for the Year Ended 31 October 2022**
|**Income and Endowments from:**
Donations and legacies (analysed below)
Charitable activities (analysed below)
Other trading activities (analysed below)
Investment income (analysed below)
Other income (analysed below)
Total income
**Expenditure on:**
Raising funds (analysed below)
Charitable activities (analysed below)
Other expenditure (analysed below)
Total expenditure
Net income/(expenditure)
**Other recognised gains and losses**
Other gains/losses (analysed below)
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward|**Total**
**2022**
**£**
77,442
50,569
61,716
5,655
3,968
199,350
(132,791)
(12,885)
(9,244)
(154,920)
44,430
(24,522)
19,908
683,853
703,761|**Total**
**2021**
**£**
19,315
48,647
29,268
6,059
5,866|
|---|---|---|
|||109,155|
|||(103,851)
(5,630)
(12,071)|
|||(121,552)|
|||(12,397)
43,807|
|||31,410
652,443|
|||683,853|
This page does not form part of the statutory financial statements. Page 31
## **The Devon Federation of Women's Institutes**
## **Detailed Statement of Financial Activities for the Year Ended 31 October 2022**
|**_Donations and legacies_**
Appeals and donations
Other income
Suspended WIs
**_Charitable activities_**
Membership income
Training
Training by advisers
**_Other trading activities_**
Event income
Sales - Speaker book
Sales - Devon WI News
Sales - Calendars
Sales - Diaries
Recovery - Postage Devon WI News
Sales - Stationery
Sales - 2020 mugs
**_Investment income_**
Income from listed investments
Interest on cash deposits|**Total**
**2022**
**£**
404
-
77,038
77,442
49,919
-
650
50,569
46,437
66
7,413
4
3,101
3,654
211
830
61,716
5,628
27
5,655|**Total**
**2021**
**£**
-
1,694
17,621|
|---|---|---|
|||19,315|
|||48,627
10
10|
|||48,647|
|||25,026
35
1,769
915
-
-
463
1,060|
|||29,268|
|||6,059
-|
|||6,059|
This page does not form part of the statutory financial statements. Page 32
## **The Devon Federation of Women's Institutes**
## **Detailed Statement of Financial Activities for the Year Ended 31 October 2022**
|**_Other income_**
NFWI raffle income
300+ club
Postage recovery
Insurance recovery
Other income
NFWI subscriptions
Pooling of fares
Delegates accommodation|**Total**
**2022**
**£**
504
755
199
2,468
38
4
-
-
3,968|**Total**
**2021**
**£**
845
515
411
1,381
2,045
-
544
125|
|---|---|---|
|||5,866|
This page does not form part of the statutory financial statements. Page 33
## **The Devon Federation of Women's Institutes**
## **Detailed Statement of Financial Activities for the Year Ended 31 October 2022**
|**_Raising funds_**
Calendar printing
Stationery for resale
2020 celebration mugs
Diary purchases
Event costs
2020 celebration venue hire
Wages and salaries
Staff pensions (Defined contribution)
2020 Celebration travel
Water rates
Light, heat and power
Insurance
Repairs and maintenance
Telephone and fax
Printing, postage and stationery
Trade subscriptions
Hire of other assets (Operating leases)
Sundry expenses
Office general
Office running costs
Legal and professional fees Permanent Endowment fund
Legal and professional fees Unrestricted Fund|**Total**
**2022**
**£**
-
442
809
2,698
41,351
-
44,387
4,430
-
450
2,852
3,315
8,135
2,441
5,607
279
1,834
2,419
376
1,858
1,709
7,399
132,791|**Total**
**2021**
**£**
1,829
1,664
2,613
-
20,431
2,375
42,266
4,424
12
215
1,446
3,679
1,601
1,874
6,281
217
1,993
1,385
473
1,763
1,729
5,581|
|---|---|---|
|||103,851|
This page does not form part of the statutory financial statements. Page 34
## **The Devon Federation of Women's Institutes**
## **Detailed Statement of Financial Activities for the Year Ended 31 October 2022**
|**_Charitable activities_**
Devon WI News
Workshop costs
ACWW
Subcommittee travelling
Federation travel
Advisers travel
Subcommittee general
Board travel
Training of volunteers
**_Other expenditure_**
Depreciation of fixtures and fittings
Profit/(loss) on sale of tangible fixed assets held for charity's
own use
**Other gains/losses**
(Gain)/loss on investments Permanent Endowment fund
(Gain)/loss on investments Unrestricted fund|**Total**
**2022**
**£**
4,606
1,667
255
1,332
666
2,170
779
780
630
12,885
9,244
-
9,244
12,261
12,261
24,522|**Total**
**2021**
**£**
1,506
2,236
-
532
85
376
83
262
550|
|---|---|---|
|||5,630|
|||11,986
85|
|||12,071|
|||(21,246)
(22,561)|
|||(43,807)|
This page does not form part of the statutory financial statements. Page 35