Chariry registration number.. 1191427 The Devon Federation of Women's Institutes {A Charitable Incorporated Organisation) Annual Reportand Financial Statements for the Year Ended 31 October 2025 Smart Accounting & Tax Solutions LLP 74A Station Road East Oxted Surrey RH8 OPG
The Devon Federation of Women's Institutes Contents Reference and Administrative Details Tru5tees' Report 2tog Independent Examiner's Report io Statement of Financial Artivities llto12 Balance Sheet 13to14 Notes to the Financial Ststements 1Sto29
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 2wr Independent Examlner Smart Accounting & Tax Solutions LLP 74A Station Road East Oxted Surrey RH8 OPG Page I
The Devon Federatlon 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 2025. 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 adiqce to Women's InStiteS in Devon, and - To further the purposes of the Women's Institutes movement in Devon and elsewhere, Public beneflt The Women's Institute is non-sectarian, non-party political and offers all women the opportunity to enjoy friendship and lifelong learning to widen thelr horizons and. together, influence local, national. and international affairs In accordance with the Constitut5on and Rules of the Women's Institute. The Trustees confirm that they have complied witlj the requirements of Section 17 of the Charitie5 Act ZOII to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Page 2
The Devon Federatlon of Women's Institutes Trustees. Report Achievements and perforniance The period covered in these accounts has continued to be challenging. In the Federation. and in many Wls, it can be difficult to find volunteers. Individual Wls cannot always find comtnittee members. As a resulL the number of Wls in the Federation continues to decrease. Our Annual Council meeting at Exeter in 2025 proved to be successful, despite the fact that we did not book a high brow celebrity speaker. It made a small surplus for the for the second year running. The Annual Carol concert at Exeter Cathedral was also successful and also made a small surplus. While many Wls read the Devon Wl News online, the printed verslon will have a makeover early in 2026. This is still available in print for those who wish to buy it It continues to be the regular method ofcommunication with our members, although we know that not all members read it. Across the Federation we continue to explore ways to be more effective in supporting our members and in tsking care of our resources. A5 we negotiate new contracts, we analyse the costs and benefits before making any decisions. We use best practice including multiple quotes. Our sub-committees work hard to offer extra opportunities to individual members and welcome any suggestions for additional events. However, each of them are formed of volunteers and without new people it can be difficult to arrdnge as many activities as we would like. The Sport and Leisure committee they have run many successful events during the year including Skittles, Pamper day5 and Walk5. The Federation holiday continues to be very popular and is supported by many. A good time is had by all. The Food. Craft and Skills committee provide refreshments for the Jane Austen Southwest Society meetings which brings in revenue for the federation. These were very successful. The committee ran competitions during the year including the Molly Nosworthy trophy and attended the Okehampton Show, just as marketing exercise. Some board members did not want to attend or found the day to long. This proved to be a success, and we opened a new Wl in OkehamptonJuly 2025. Page 3
The Devon Federation of Women's Institutes Trustees, Report The Combined Arts Committee ran their regular competitions such as the St George'5 Day Trophy and Radio Devon Cup with awards presented at the Annual Council Meeting. Members of their Committee continued to be involved wth the organisation of the carol concert af Exeter Cathedral. The December 2025 Carol service had very positive feedback and was extremely enjoyable. The Advisers. or Metnbership Support Committee. continue to offer 5UPPOrt and advice to all WIS across Devon. Although their remit has changed to being responsible for opening and closing Wls, they have been st21wart help to many Wls as they faced challenges within their committees. They also offered training for Secretaries. Presidents and Treasurers. The Federation had a stand at the Devon County Show where members of the Board and of Food, Craft and Skills Committee ran demonstrations. They also ran the ever-popular County Quiz at many venues across the county with the final at Longdown village hall. The end of 2025 saw a trip to the Christmas market at Bristol whicti was enjoyed by many members. These activitie5 give different opportunities to all Wl members. In July 2025. eight new members105ned the Board of Trustees. with two of the existing board members significantly reinvigorating the Devon Federation with fresh thinkin& new experiences, and a dynamicapproach to our work. Page 4
The Devon Federation of Wornen's Institutes Trustees, Report Financial review The Federation's financial position has improved over the past year, with a stronger overall surplus than in 2024. Total income rose to £174,999. an increase of over £27.000 on the previou5 year. This was driven primarily by a substantial rise in investment income. which increased from £9.071 Lo £23.993. Income from charitable activities and trading also showed modest growth. Expenditure reduced slightly to £149.638. The largest areas of cost remain events. stsffing. and general running costs. While most categories were broadly Stable, there were some increases in areas such as insurance and staffing, offset by reductions elsewhere, including event costs and workshop expendiNre. The resulting surplus for the year was £25,361, compared with £13,433 in 2024. Total funds increased to £723,732. The Balance Sheet shows a shift in the composition of assets. Investment values increased significantly to £244.130. while cash balances reduced to £135,188, reflecting both investment activity and working capital movements. Overall, the Federation remains in a stable Financial position. supported by strong reserves and improved investment returns. However. the accounts also indicate an ongoing reliance on investment income, and it will remain important to monitor core income Streams and expenditure closely. Pollcy on reserves The Trustees policy 15 to hold sufficient free reserves to do the following: Operate for at least eighteen morkths 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 Wl5. Our policy to hold substantial reserves is contlnulng to hold us in good stead. Page 5
The Devon Federatlon of Women's Instltutes Trustees, Report Investmentpolicy and objectives The Trustee's attitude to investment risk is cautious and investments are reviewed tsvice 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 meL Page 6
The Devon Federatlon of Women's Instltutes Trustees, Report Trustees and offlcers The Trustees and Officer5 senTing during the year and since the year end were as follows.. Trustees.. J Connolly P Keane (resigned 31 july 2025) R Matterface (resigned 3 1 luly 2025) R Nebbett [resigned 31 July 2025) M Rhodes {resigned 31 July 2025} S Shorthouse (resigned 31 january 2025) E Watson (resigned 31 luly 2025) l Middleton V Tribble. Treasurer (appointed 3 july 2025] L Roberts {appointed 3 july 2025} S Green [appointed 3 july 2025) L Brothwood (appointed l July 2025 and resigned 3 December 2025) C Bennett (appointed 3 july 2025) S Hodges (appointed 3 July 2025) ] Rosser (appointed 2 September 2025) P Kirby. (Ex Officio) [appointed I july 2025) Structure, governance and management Nature ofgoverning 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 theCIO on IstNovember 2020. Page 7
The Devon Federatlon of Women's Instltutes Trustees, Report Recruith7ent 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 nutnber can be additionally co-opted. The chairman and officers are elected annually by the Board of Trustees. Trustees must tneet at least five times a year, but normally it is eleven. to discuss Federation and National matters and to take decisions. A]1 trustees are provided with a comprehensive file with relevant policies and guidelines which are kept under constsnt review. Arrangementsforsetting keymanagementpersonnel remuneration No Trustees are remunerated. Organisatlonalstructure Throughout this period the use of The Firs has evolved as St Is no longer the place for regular Board or committee meetings. As part of our future plans we continue to examine the use and purpose or The Firs. 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 appliLable in the UK 2nd 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 unles5 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 rhe 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 busine5S. 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 ol the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 8
The Devon Federation of Women's Institutes Trustees, Report 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. The annual report wa5 approved by the Trustees of the Charity on 20 May 2026 and signed on its behalf by: l Middleton Chairman and Trustee V Tribble Trustee Page 9
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 examlnatlon of the accounts of the Charitable Incorporated Organisation (CIO) for the year ended 31 October 2025. Responsibilities and basis of report As the Charitys Trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ['the 2011 ACV). 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 Charitys accounts a5 carried out under section 145 of the Charities Art 2011. In carrying out my examination I have followed the Dirertions given by the Charity Commission under sertion 145{5)(b) of the 2011 ACL Independent examlnevs 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: l. accounting records were not kept in respert of The Devon Federation ofwomen'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 OPG 20 May 2026 Page 10
The Devon Federation of Women's Institutes Statement of Financial Activities for the Year Ended 31 October 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestrlrted Restrlrted Endowment nds funds funds Total 2025 Note Income and Endowments from: Donations and legacies Charitable activities Other trading activities Investment income Other income 6,887 6,887 56,993 79.717 23.993 7.409 56,993 79,717 23.993 7,409 Total income 168,112 6,887 174.999 Expenditure on.. Raising funds Charitable activities Other expenditure Total expenditure (128,453) {12,214) 8,971 [128.453) [12,214) 8.971 io 149.638 149,638 Net income 18,474 6.887 25.361 Net movementin fund5 18,474 6.887 25,361 Reconciliatlon of funds Total funds brought forward 488,311 93.165 116.895 698,371 Total funds carried forward 21 506,785 100,052 116,895 723.732 The notes on pages IS to 29 form an integral part of these financial statements. Page 11
The Devon Federation of Women's Institutes Statement of Financial Actlvltles for the Year Ended 31 October 2025 (Includlng Income and Expenditure Account and Statement of Total Recognlsed Gains and Losses} Unrestricted Restricted Endowment funds funds funds Total 2024 Note Income and Endowments frotn: Donations and legacies Charitable activities Other trading activities Investtnent income 300 53.699 77.143 9,071 5,834 1,300 1.600 53,699 77,143 9,071 5,834 Other income Total income 146,047 1,300 147,347 Expenditure on: Raising funds Charitable activities Other expenditure (128,721) (13,864) [8,971 [466] [129,187) (13,864) 8,971 io Total expenditure Gainsllosses on investment assets [151,556) [466} [152,022) 9,054 9,054 18.108 Ner income 3,545 16,444 1,300 16,444] 8,588 13.433 Transfers between funds Net movement in funds 19,989 (15,144) 8,588 13,433 Reconciliation of funds Total funds brought forward 468,322 108,309 108,307 684,938 Total funds carried forward 21 488,311 93,165 116,895 698,371 All of the Charity's activities derive from continuing operations during the above two periods. The notes on pages 15 to 29 form an integral part of these financial statements. Page 12
The Devon Federation of Women's Institutes [Reglstratlon number: ) Balance Sheet as at 31 October 2025 2025 2024 Note Fixed assets TangSble assets Investments 15 349,950 244,130 358,921 202,322 16 594,080 561.243 Current assets Stocks Debtors Cash atbank and in hand 17 18 19 2,519 1.214 135.188 3,218 4,671 148,535 138,921 156,424 Creditor5'. Amounts falllng due wlthln one year 20 9,269 [19,296 Net current assets 129,652 137.128 Net assets 723,732 698,371 Funds of the Charity: Endowment funds 116,895 116,895 Restricted Income funds Restricted funds 100,052 93.165 Unrestricted Income funds Unrestricted funds 506,785 488,311 Total funds 21 723,732 698.371 The notes on pages 15 to 29 form an integral part of these Financial statements. Page 13
The Devon Federation of Women's Institutes (Regftstratlon number: ) Balance Sheet as at 31 October 2025 For the financial year ending 31 October 2025 the Charity was entitled to exemption from audit under sertlon 477 of the Companie5 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 respett to accounting records and the preparation of accounts. The financial statements on pages 11 to 29 were approved by the Trustees, and authorised for issue on 20 May 2026 and signed on theirbehalfby. Middleton Chairman and Trustee V Tribble Trustee The notes on pages 15 to 29 form an integral part of these financial statements. Page 14
The Devon Federatlon of Women's Institutes Notes to the Finanaal Statements for the Year Ended 31 October 2025 I Charity status The Charity 15 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 2Fr These financial statements were authorised for issue by the Trustees on 20 May 2026. 2 Accounting policies Summary ofsignificant accounting policies and key accounting e5tlmates The principal accounting policies applied in the preparation of these financial statements are Set out below. These policie5 have been consistently applied to all the years presented, unless otherwise stated. staternent 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 102J), 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. Golng concern The Trustees consider that there are no material uncertainties about the chari5 ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the Chariry. Page 15
The Devon Federation of Women's Institutes Notes to the Flnanclal Statements for the Year Ended 31 October 2025 Incotne 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 legacles Donations are recognised when the Charity has been notified in writing of both the amount and settlement date. In the event that a donatÉon is subjert 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 tnet, or the fulfilment of those condition5 IS wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporung period. Investmentincome 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 construchve 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 b35is of time spent. and depreciation charges allocated on the portion of the asseys use. Other support costs are allocated based on the spread of staff costs. Raisingfvnds These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds. Charitable activities Charitable expendi¢ure 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 16
The Devon Federatlon of Women's Institutes Notes to the Financial Statements for the Year Ended 31 October 2025 Governance costs These include the costs attributable to the Charitys 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 I Schedule 6 of the Finance Act 2010 and therefore it Tneets 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 Sertion 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 a55ets Individual fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Depreclatlon 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 Land and buildings Depreclation method and rate 2 % Straight line 25% Straight line until net book value reaches £1 Equipment, furniture and fittings 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 investtnents are calculated as the difference between sales proceeds and their market value at the start of the year. or theSr subsequent cost, and are charged or credited to the Statement olFinancial Activities in the period oldisposal. 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 les5 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 17
The Devon Federation of Women's Instltutes Notes to the Financial Statements for the Year Ended 31 October 2025 Cash and cash equlvalents 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 rash 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 restrirted 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 Restrirted funds Total 2025 Total 2024 Donations and legacies- Donations from individuals Donations from suspended Wls 300 1,300 6,887 6,887 6.887 6.887 1,600 4 Income from charitable activities Unrestrlrted funds General Total 2025 Total 2024 Membership income Training by advisers 56,089 904 56.089 904 53.128 571 56,993 56,993 53,699 Page 18
The Devon Federatlon of Women's Institutes Notes to the Flnancial Statements for the Year Ended 31 October 2025 S Income from other tradlDg artlvltles Unrestricted funds General Total 2025 Total 2024 Trading income; Sales- Stationery Sales - 2020 mugs Sales- Speaker book Sales- Devon Wl News Sales- Diaries Recovery- Postage Devon Wl News Events income- Events income 61 637 637 243 4,500 842 4,500 842 2,132 5.343 2,132 2.411 71,606 71.606 69,075 79,717 79,717 77.143 6 Investment Income Unre5tr5rted funds General Total 2025 Total 2024 Interest receivable and similar income: Interest receivable on bank deposits Other income from fixed asset investments 1.095 7.976 23,993 23.993 23.993 23,993 9.071 Page 19
The Devon Federatlon of Women's Institutes Notes to the Financial Statements for the Year Ended 31 October 2025 7 Other income Unrestrlcted funds General Total 2025 Total 2024 NFWI raftle income 300+ club Postage recovery Insurance recovery Other income NFWI subscriptions 549 455 i.iio 4.006 1,652 363 549 455 1.1 io 4,006 1,652 363 116 370 3,585 1,386 377 7.409 7.409 5.834 8 Expenditure on raising funds a} Costs of tradlng artlvitles Unrestricted tunds General Total 2025 Note Costs ofgoods sold Events and conferences 821 49.443 821 49.443 50,264 50,264 Unrestrlrted Endowtnent funds funds General Pertnanent Total 2024 Note Costs of goods 501d Evenrs and conferences 525 525 52.628 52,628 466 Allocated support costs li 466 53,153 466 53.619 Page 20
The Devon Federatlon of Women's Instltutes Notes to the Financial Statements for the Year Ended 31 October 2025 b} Otherc05ts Unrestricted funds General Total 2025 Total 2024 Note Legal fee5 Wages and salaries Staff pensions {Defined contribution) Water rate5 Light. heat and power Insurance Repairs and maintenance Telephone and fax Printin& postage and stationery Trade subscriptions Hire of other assets (Operating leases) Sundry expenses Office general Office running costs 4,578 48.063 3.825 677 4,578 48.063 3,825 677 4.275 45,699 3,656 494 2.461 3,936 3.210 2,731 4.083 174 1,926 5,824 2,601 2,968 3,601 IBI 1,926 5,824 2,601 2,968 3.601 181 682 682 1,032 1,912 105 1.220 404 1,220 404 iii 1,639 1,639 1,800 78.189 78,189 75,568 Page 21
The Devon Federation of Women'5 Institutes Notes to the Financial Statements for the Year Ended 31 Ortober 2025 9 Expenditure on charitable activities Unrestricted funds General Total 2025 Total 2024 Note Devon Wl New5 Workshop costs Subcommittee travelling Federation travel Adviser5 travel Subcommittee general Governance costs 4,626 3,169 1,422 156 4,626 3,169 1,422 156 1,321 424 1,096 4.813 4,334 2,163 344 628 1,321 424 1,096 1.324 258 li 12,2 14 12,214 13.864 10 Other expenditure Unrestrirted funds General Total 2025 Total 2024 Note Depreciation, amortisation and other similar costs 8,971 8,971 8,971 8.971 8.971 8,971 Page 22
The Devon Federatlon of Women's Institutes Notes to the Flnanclal Statements for the Year Ended 31 October 2025 IIAnalysis of governance and support costs Governance costs Unrestrirted funds GeDeral Total 2025 Total 20Z4 Board travel Training of volunteers 816 280 816 280 258 1.096 1,096 258 12 Net incomlng/outgolng resources Net incoming/[outgoing] resources for the year include.. 2025 2024 Depreciation of fixed assets 8,971 8,971 13Trustees remuneration and expenses During the year the Charity made the following transactions with Trustees: £Nil (2024.. £97) 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. Page 23
The Devon Federation of Women's Institutes Notes to the Financlal Statements for the Year Ended 31 October 202S 1STangible r]xed assets Furniture and equlpment Land and buildings Total C05t At l Novetnber 2024 448,560 16,317 464,877 At 31 October 2025 448,560 16,317 464,877 Depreciation At l November 2024 Charge for the year 89,680 8,971 16,276 105,956 8,971 At 31 Ortober2025 98,651 16.276 114,927 Net book value At 31 Ortober2025 349,909 41 349.950 At 31 Ortober2024 358,880 41 358.921 Page 24
The Devon Federatlon of Women's Institutes Notes to the Financial Statements for the Year Ended 31 October 2025 16Flxed asset investments Other Investments Llsted finvestments Total Cost or Valuation At l November 2024 Revaluation Additions 202,322 11,808 30.000 202.322 11,808 30,000 At 31 October2025 244.130 244.130 Net book value At 3 1 October 2025 244,130 244.130 At 31 Ortober2024 202.322 202.322 The market value of the listed investments at 31 October 2025 was £244,130. Individual holdings representing more than 5% of the market value at the balance sheet date are: Maitland Institutional Services Ltd Mthly High Inc C GBP Inc £123.434. Maitland Institutional Service5 Ltd Multi Ast 3 Mode A Inc £120,378. 17Stock 2025 2024 Stocks 2.519 3,218 18 Debtors 2025 2024 Prepayments Other debtors 630 584 4,052 619 1.214 4,671 Page 25
The Devon Federation of Women's Institutes Notes to the Financial Statements for the Year Ended 31 October 2025 19Cash and cash equivalents 2025 2024 Cash atbank Short-term deposits 117,953 17.235 139,479 9,056 135,188 148,535 20Credltors: amounts falling due within one year 2025 2024 Other creditors Accruals 1,600 7,669 19,296 9.269 19,296 Page 26
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The Devon Federatlon of Women's Institutes Notes to the Financial Statements for the Year Ended 31 Ortober 2025 22Analysis of net assets between funds Total funds at31 October 2025 Unrestrlrted funds General EndOllent runds Permanent Restrlcted funds Tangible fixed assets Fixed asset investments Current assets Current liabilities 349.950 138.229 85,579 9.269 349,950 244,130 138,921 9,269 105,90 1 53,342 Total net assets 564.489 53,342 105,901 723.732 Total funds at31 October 2024 Unrestricted funds General Endowment funds Permanent Restricted funds Tangible red assets Fixed asset investments Current assets Currenf liabilities 358.921 101.161 47.526 (19.296 358,921 202,322 156,424 [19,296} 101,161 15.733 93,165 Total net assets 488.312 93,165 116.894 698,371 Page 29
The Devon Federatlon of Women's Instltutes Statement of Financial Activities by fund for the Year Ended 31 October 202S Unrestrlcted Funds Total Total Unrestrictedlnrestricted Funds Funds 2025 2024 InC0e and Endowments from: Donations and legacies Charitable artivitie5 Other trading activities Investment income Other income 300 53.699 77,143 9,071 5,834 56.993 79,717 23,993 7,409 Total income 168,112 146,047 Expendlture on: Raising funds Charitable artivitles Other expenditure (128.453) [128.721) (12,214) (13,864) (8,971) {8,971 Total expenditure 149,638 151,556 Net income/[expenditure) Transfers between funds 18.474 (5,509) 16,444 Other recognised gains and losses Other gains/1055es 9.054 Net movement in funds 18.474 19.989 Reconclliatlon of ndS Funds transferred to entity 488,311 468,322 Total fund5 carried forward 506,785 488.311 This page does not form part of the statutory financial ststements. Page 30
The Devon Federatlon of Women's Institutes Statement of Financial Activities by fund for the Year Ended 31 October 2025 Restrlcted Funds Total Total Restrirted Restricted Funds Funds 2025 2024 Income and Endowments from: Donations and legacies 6,887 1,300 Toral income 6,887 1.300 Expenditure on: Net income Transfers between funds 6,887 1,300 16,444 Netmovement in funds 6.887 [15.144) Reconciliation of funds Funds transferred to entity 93.165 108.309 Total funds carried forward 100.052 93,165 This page does not form part of the statutory financial statements. Page31
The Devon Federation of Women's Institutes Statement of Financial Actlvlttes by (und for the Year Ended 31 October 2025 Endonent Funds Total Total EndowmentEndowment Funds Funds 2025 2024 Income and Endowments from". Expenditure on: Raising funds 466 Total expenditure 466 Net expenditure other recognlsed galns and losses Other gains/losses (466) 9,054 Netmovement in funds 8,588 Reconciliation of funds Total funds brought forward 116,895 108,307 Total fund5 carried forward 116,895 116,895 This page does not form part of the statutory financial statements. Page 32
The Devon Federatlon of Women's Institutes Detailed Statement of Flnanclal Actlvltles for the Year Ended 31 October 202S Total 2025 Total 2024 Income and Endowments from: Donation5 and legacies (analysed below) Charitable activities [analy5ed below) Other trading activities (analysed below) Investment income (analysed below) Other income [analysed below) 6,887 56,993 79,717 23,993 7.409 1.600 53.699 77.143 9,071 5,834 Total incoTne 174,999 147,347 Expenditure on: Raising fttnds {analysed below) Charitable artivities (analysed belowj Other expenditure (analysed below) (128,453) (12,214) 8,971) (129.187) (13,864) 8.971 Total expendire 149,638 (152,022 Net income/(expenditure) Other recognised gains and1055es Other gains/losses [analysed below) 25.361 (4,675} 18.108 Net movement in funds 25,361 13.433 Reconciliation of funds Total funds brought forward 698,371 684,938 Total funds carried forward 723,732 698,371 Thls page does not form part of the statutory financial statements. Page 33
The Devon Federation of Women's Instltutes Detailed Statement of Financial Activities for the Year Ended 31 October 2025 Total 2025 Total 2024 Donations andlegacies Appeals and donations Suspended Wts 300 1,300 6,887 6,887 1,600 Charitable activities Membership income Training by advisers 56,089 904 53,128 571 56.993 53.699 other trading activities Eventincome 71,606 69,075 Sales - Speaker book Sales- Devon Wl News Sales . Diaries Recovery- Postage Devon Wl News Sales - Stationery Sales- 2020 mugs 4,500 842 2.132 5.343 2,411 61 243 637 79.7 17 77,143 Investmentincome Income from listed investments Interest on cash deposits 23,993 7.976 1.095 23.993 9.071 This page does not form part ofthe statutory financial statements. Page 34
The Devon Federation of Women's Instltutes Detailed Statement of Flnanclal Activities for the Year Ended 31 October 2025 Total 2025 Total 2024 other Income NFWI raffle income 300+ club 549 455 I,iio 4.006 1.652 363 116 370 Postage recovery Insurance recovery Other income NFWI subscriptions 3,585 1,386 377 7,409 5,834 This page does not lorm part of the statutory financial statements. Page 35
The Devon Federatlon of Women's Instltutes Detailed Statement of Financial Activities for the Year Ended 31 Ortober 2025 Total 2025 Total 2024 Raisingfynds Stationery for resale Event costs Wages and salaries Staff pensions {Defined contribution) Water rates 821 49,443 48,063 3,825 677 525 52,628 45,699 3,656 494 2.461 3,936 3,210 2,731 4,083 174 1,032 1.912 105 1.800 466 4.275 Light, heat and power Insurance Repairs and maintenance Telephone and fax Printing postsge and stationery Trade subscriptions Hire of other assets (Operating leases) Sundry expenses Office general Office running costs Legal and professional fees Pernianent Endowment fund Legal and professional fees Unrestrlcted Fund 1.926 5,824 2,601 2,968 3,601 181 682 1,220 404 1.639 4,578 128.453 129.187 Charitable activities Devon Wl News Workshop costs Subcommittee travelling Federation travel Advisers travel 4,626 3,169 1,422 156 1,321 424 816 280 4,813 4.334 2,163 344 628 Subcommittee general Board travel Training of volunteers 1,324 258 12,214 13,864 This page does not fortn part of the statutory financial statements. Page 36
The Devon Federation of Women's Instltutes Detailed Statement of Flnanclal Activities for the Year Ended 31 Ortober 2025 Total 2025 Total 2024 other expenditure Depreciation of fixtures and fittings 8.971 8,971 8,971 8,971 Other gainsllosses (Gain]Iloss on investments Permanent Endowment fund (Gain}/loss on investments Unrestricted fund (9,054) 9,054 [18.108 This page does not form part of the statutory financial statements. Page37