Chartty Re$tralI0rt no". 1199538 Berkshire F•derlon olwomen's Institutes ICIOI Annual ReF)Ort Foryeor ended 31 Dec$mber 2024 Contents: Pa Trustees Report Independent Examiners Report siatement Of Financial A¢tivtties Balance Sheet Notes to the Financial Statements 10
Trustees Report The Board ofTrustees presents theAnnual Report and the Financial Statements forthe charity forthe year ended 31 December 2024. Member8 of the Board of Trustees: Trish Kiigour Annette Dolphin Nina Derrick MllaryFraser Anita West Marion Scott Baker Caroline Day Geraldine Cockerton (nominated & took up post Apri12025) (nominated & took up postApril20251 Professor Margot Gosney (nominated & voted in June 2025 to replace J Abbot-Hauxwelll Sally Pellow Katrina Sell (nominated & voted in June 2025 to replace B Browne} Carole Seymour (co-opted June 2025) Alessandra Sherm8n (co-opted June 2025) Joyce Pack {resigned February2025) Frances Strange (Vice Chairman & retired April2025} Ladyj. Abbot Hauxwell {retired April 2025) Barbara Browne (resigned M8y 2025) Ann Knee-Robinson (resigned May 2025) (resigned August 2025) Chairman (co-opted September 2024 & Chairman from May 2025) Chairman (to April 2025 & retired April 2025) Vice Chairman Vice Chairman Tre8surer Federalion Secretary. Diane Reeves Federation Office: Wl House The Street Mortimer Common Reading RG7 3RD Charlty Registratlon no. 1199538 Bankers: Natwest Bank 13 Market Place Reading RG21 2EP IFE- Xeinadin South East Limited Unit4 City Limits Danehill Reading RG6 4UP (IndependentFIMn¢lalExBmlnerJ Solleitors: Field Seymour Park8S 1 London Street Reading RG14QW Land & Property: Vested in the Off icial Custodian for Charities
Structure. Governance & Management Berkshire Federati(>n of Women's Institutes IBFWII isgovemed byihe Constitution 8nd Rules tor Charitable Incorporated Organizations as defined bythe National Federation of Women's Instituies. The BoardofTrustees may exercise alllhe powersofthe Berkshiie Federation ofwomen's Institutes 8nd, therefore. indivi¢Jual members of the Board of Trustees constrtute trustees of lh8 Federation in charity law. Sub-committee recommendationsaresubject to Board ofTrustees appiovdl. Links are maintèined wththe NationaLFeder8tion ofWomen'5 Institutes INFWII. The Board of Trustees 1$ elecTed triennlally by Berkshire Women's Instrtutes (Wisl and the Chairman is ele¢t$d annually by the Board of Trusiees. The Board of Trustees prowde their services gratuitously. The valug of these setvices is not reflected in the accounts. The Board ofTrusteesgratefulLy a¢knOed8¢S the servicèsof membersofsub-committtres and other volunteers. Tru51ee training is provided to allnew board members shortty afterlheytake offi.ce. Members undertaking specrfic duties attend appropriate trainingeourses as arranged either by BFWI or by NFVVI atarranged locations oronline via the Wl Leaming Hub. In 2024 BFWI prowded support to 62 WLS, with a iotal of2510 meFnbers. Objectivas & A¢tlvitiè¥ The obje¢ts of the charity areiofurtherthe ideals offellow5hip. truth, tolerance and justica embodied in the Women's Inslitute movement in Berkshire and elsewhere. Thewomen's Institute is non-sectarian. non-party political and aims to inspire and enricn the Iiv8s of allwomen who wish to play an active role intheir communities- provicling opportunities to enjoy friendship. lrfe-long learning, to widen their horizons and. together. influence local. nationaland international alfaiis. The main purposes orthe Women's Institute are= to advance the education ol women and gilts forlhe pUbC benefit inall areas of society and culture io promote 5UStainabie dewlopmènt forthe public benefit byeducating people in enwronmental issues lo a(Jvance health forthe publicbenefft lo advance crtizenshipfoithe public benefit bythe promotion of C1C responsibility and volunteering.
Achiovèmontg & Porformaneo The Board ofTrustees welcomed Trish Kiigour (September) as co-opted member in 2024. The exterior ofWI House in Mortimer Comrnon was painted. Aworking psty has been set up to look at all aspects of maintenance ofthe building. The Federation's small. dedicated group ofWI Advisers & Wl AdviserAssistants continued to support Wls throughout the year. both by telephone and visits to meetings. Support was also provided through well attended events such as the Presidents & Secretaries Workshop in Spring an(J the Treasurers Workshop in Autumn. Wl Group Meetings were attendecl byWI Advisers. The Federation Chairman was present at several Group Meetings and visited m8nyWls during the year. Regrettably. two Wls were suspended but several new members joined across the Faderation. The Federation's Annual Couneil Meetlngwas held, once again. in the Michael Malnick Centre, Leighton Park School. Readingwith the Mayorof Reading. CllrTony Page in attendance. Following official business. members participated in a'seated Yoga. session led byJennyWhite. Former Federation Chairman, Jean Sheppard. spoke regardingthe importance ofWI Resolutions 2nd highlighted that the Government do look at issues raised. In addition. NFWI Board Members and sub- committee members are included in factfinding meetings. The final guest. Nicola Chester {"Country File Magazine columnistand author of the award-winning book "On Gallows Down") spoke of her passion for nature. the countryside and conserv8tion. The NFWI Annual Meetingwas held in the RoyalAlbert H811 in June. A full coach from Berkshire attended which included Trustees. Wl Advisers. Federation Delegates and Members. The NFWI Annual Council Meetingwas held virtually in November and was attended bythe Federation Chairman and Treasurer. Board of Trustees members attended Surrey. Oxfor(Jshire. Middlesex. Buckinghamshire. Isle ofwight and Wiltshire Federation Annual Meetings. Board olTrustees members also attended severalWI celebr8tory events a¢ross the Federation. The Berkshire Federation Newsletter,'Berkshire News. continues to reach the membership in both printed and electronic forms. This is supplemented with a"Fortnightly Update"from the Chairman which is e-mailed to all Wls with rerninders of forthcoming events. Many events were organised throughoutthe year bythe Federation's sub-committees. The needle felting, Japanese"Boro" and Willowweavingfor Christmas craft days were well supported. Looking ahead to 2025. the Federation's Annual Councilmeetingwillbe held atThe Michael Malnick Centre, Leighton Parkschoolon Friday 25 April. The NFWI Annual Meetlngwillbea virtual on-line meetingonWeOnes(Jay 4- June. Berkshire Federation Trustees. Wl Advisers and Delegates will 8ttend the meetingvia zoom. Events planned include Speakers Selection, Federation Quiz, a Craft Stash Sale, countywalks, a croquettaster8nd Christmas Ragwreath workshop. The Golden Jubilee Cup competition will be introduced with a cash prize forthe winningwi.
Financial Review 8FWI r8m8in$ financially sound despite incre88ing costs dueto inflation. We continue to employtwo member5 of Staff. a Federation SeGietary and a F(nanclal Assi$1gni. and their salary Is reviewed annually. The Board continues to bevery mindful ofcontrolling costs. Three bursaries were awarded frorn the Margaret Latham Bursary Fund in 2024. It is planned to award bursarie5 to members for educational courses each year whilst fun(Js are available. Legal guidence has been received from NW as to the change of use of the Margaret Smith Bursary. Wls will be advised of the changes once the process has been completed. Reserves Poilcy The Board's reserves policy is that suff icient funds should be maintained in unrestricted realisable reserves to Cover twelve months. operating expenses. including salaries. rates. insurance, utility and off ice Costs. The Board 81rnS to use unrestricted cash resetves in excess of this requirementto support opportunilies oflered to the members. This policy is reviewed bythe Board of Trustees 8nnually. Tot81 reserves at the 3111212024 stand at £246,81812023.. £234,518) consisting ot unrestricted funds of £219,73012023= £208,791) and restTlCted funds of £27.088 {2023: £25,727). The unrestricted funds are held in fixed assets valued at £54.68312023= £56,331). investments valued at £70.38912023'. £68.6001 and cash to the value of £100.94912023.. £86.6691. The restricted funds are h81d in investments valued at £8.31912023= £8,10818nd cash to the value of £15,00612023.. £16,491) Investment Policy Unrestricted funds not required inthe shortto medium term are invested in equities to provide an ddition81 income stream. The Trustees are willing to accept only lowto medium risk, so they have chosen to invest in M&G Charifund. which includes a mix of equity investments. Some or all of these funds woul(J be realized, only if theywere required to keep the Federation operdtion81. The Margaret Latham Bur8aryfiJnd is also invested in M&G Charifund. All dividends are set aside forthe provision of educational bursaries. This policy is reviewed bythe Board of Trustees annually.
Expenses Policy Trustees may receive asonable travel and out-of-pocket expense5, excluding moais and other refreshments. incurred while carryinE Out their duties forthe FeOer8tion. Travel by car is paid at the mileage rate as set bythe Federation from timetotime. Claims for out-ol-pocket expenses should alvrdys be supported by receipts or. in the case of mileage, by detai18 of the joijrney tnsde and subtnirte(J on the appropri81e form or similar document. An Offi¢8rwiil review and 8Uthortse theclaim and theTre8surer will review and appiove each claim for payment. This policy and procedure vyillbe reviewed bythe Boaid ofTrustees periodically. for example at the first meeting of the board's term in office when other documents. such as Standing Orders and Terms of Reference are reviewed. Risk Management The major risks to which BFWI is exposed have been identrfied by the Board ofTrustees. A policy covering Premises Security, Health and Safety and Business Risk is reviewed regularly. Systems have been established to mitigate the risks identrfied.
Report bythe Independgnt Financial Examlner To the Managing Trustees I rÈporttothe trustees on my examination ofthe accounts of the Berkshire Federation ofwomen's Institutes I'The Tru3t'} forthe year ended 31 December 2024, which afe set out on pages 8 to 15. Respon$ibiknties and basis of report: Asthe charitys trustees, you are responsible forthe preparation of the accounts in accordance with the requirements of the Charit18s Act 20111.the Act'l. I report in respectof myexamination ot theTrust's accounts carried out under section 145 of the 2011 Act ancl in carrying out my examination, I havefoilowed allthe applicable diwtions given bythe Charity Commission under section 14515llbl of the Act. Independent Examiner'sstatement: I have completed my examination. I confirmthatno material matters have cometo myattention in connection with the examination which gwes me cause to believe that. in any material respect= Ihe accounting recorrjs were not kept in accordance wth section 130 of the Charities Act.. or the accounts did not accord with ihe accounting recofds- or the accounts did not complywiththe applicable requirements conceming the form and content ol accounts set out in the Charities IAccounls and Reports) Regulations 2008 otherthan any requirement that the accounts give a'tnje andfair, Mewwhich is not a matter considered as part of an indep8ndent examination. I have no concerns and have come across no other matters in connection with the examination towhich attention should be drawn in this report in ordertoen8ble a proper understsnding ofthe accounts to be Teached. fl./ 2025 Keith Westran FCCA ACA Xeinadin South East Limited Unit4. City Limits Danehill Reading RC6 4UP
Bthshlro Federntion otwomèn's Instit Year endln9 31 Decemb•r 2024 STATEMENT OF FINAIICIAL ACMWTIES Total 2024 Toial 2023 funds funds INCOMING RESOURCES DonatnS Mefflbewp fees Gerral Funds Restricted Funds Funds Generati 28.489 28,469 27,929 ?. T67 6. 187 2620 13 14 15 4.671 4.671 InstMent Interest and tvkJen Federation ResÈtve5 ouse Maintenance Furhl Margaret LAtham 8ur¥ary Margaret Smith Bursary SuspètKlI Insblul88 7.465 60 655 50 518 6.(Y)4 17 599 41 444 055 518 Ch¥tsbie Acnwbes 16,357 16.357 7T.209 Total incotning res•je$ 57.920 1.650 59,570 63,907 RESOURCES EXPENDED Funds Gentrdbon ¢han*ableAc)vrt Governance Admini$irattO Other ExpendrtUTe G8ner31 Fund$ Regthrt Fwd5 15 1.566 11.146 3.332 32.T25 ?2.273 4.878 31.%X) 10 3.332 32.725 13 14 2.923 1.856 500 500 Total reswY¢es eypeTKled 48,770 soo 49 270 NET INCOMING lOtJTGOINGI RESOiJRCES FOR THE YEAR era1 tsnd Rastricied Fut¥Js Total 9.151 9.151 4.066 4.988 9.074 9.151 1.150 10.301 Unrealised GainiicÉs} inwsbmwts Gweral Fund Margaret Latham Fund 1.7B8 1.788 (1,6SI} (195J 211 NET fiovEMENT IN FUNDS 10.939 12.300 7,228 È4lancos broughtforwa at l January 2024 GeDeral lund Restricted Funds Housè M31nlenance Fund Margaret Latham Bursary Margaret Stnith Burs8ry Suspend& Institutes 208,T91 2tIB. TS1 1.581 lQ.932 973 12.241 1.581 70.932 973 12 241 Total 208 T91 25.727 234.578 BAL4NCES CARRIED FORWARD AT 31 Dtcerrthw 2024 General fund Restricted Funds House maintsnaTr FL¥NI Margaret Latham Bury Margaret Smrth Bursary Suspended Insiitules 219.730 219.730 1.741 11298 1023 13.026 1.741 11298 f.023 t3.026 Total 219.730 27.088 248.818 Page 8
Berksh1 Fedgratton of Worn,$ Institutes Year ending 31 DecembEr 2024 BALANCE SHEET 2023 ASSETS Fid assets ealance al 1 January Capital Èxpenditure Oepreaation for the year 16 ,331 58.034 1.7 BalAnce *t 31 Dpwnber 56.331 Investments 17 78.708 76.70B Current a¥sets Stock Otsr debtors Prepayments and sundry debto Cash & bank Total 639 115.955 117.2C6 103 160 104.491 cUrrt Ilabilities Accluals Other creditors Mana9ed Funds Total 2.180 81 431 3.012 18 1.619 3.779 N•t current assets 113.427 101.479 Totsl net a55ets 246 818 234 518 CAPITAL FUNDS Gener81 funds Restricted FurKls- Internal House maintenants fund Margaret Laih8m txJrs8ry Marg31et Smith 8ursary Suswnded Institutes 219.7J) 208.791 1.741 11.298 1.023 13,026 1.581 10.932 973 12,241 Total funds 248.818 234.518 These accounts were approved the Board ofTntstees q" Ockher- Trish loul - Chairman Anlta West - Treasurer Py9
Berk5hirg Federatfjon of Wornen'$ Inslitirte5 Year ending 31 Dèternber 2024 NOTES ON THE ACCOUNTS cONSTITUTN AND OBJECTS The 8erkshire Federation of W¢)men5 ItituteS is an asswatim of Wo¥nen5 Insb"ttJles. Is formed with a constrtulion as lakj do•m frorn to tsme by the Natnal Federab"on. The tsbjc¢ts of the FederatM)n Bre to furtherthe purposes of Ihe Womens Institute ¥)Vet in B8rkshire and elsebvhere. ACTIVITIES The athvilies of the Federabon arg scribad in the Trustees, Rert Qn pag• 3. The Year Book. byhieh Is publi8hed in July eath year, contains a ltst of the offi5 of Ihe Federation and the rnnber ItitUteS. ACCOUNTING POLICIES Summary of slgnifi¢ant accountlng pollcles and k•y accounting estlmates The prinTrpal acwunbThJ poli(x5 appli1 In the preparation of these financial ststements a set out below. These poliaes have been (onsistently apEd to all the years presented. unkn Othe13e stated statement of compllante The finanrjal statements have in xco[(1an Aixountsng and Reptyting by Chanties Statement of Reeornfflended practi applioNe to charrt5 preparing their attounls In accordance wth the Finanoal Repory SlaTrJard apleNe ift the UK and Republic of Ireland IFRS 1021 IChallt18s SORP IFRS 10211. Basis of preparatlon The Berkshire Federation ofwtynens Instrtutes meets the definOft ol a wblic benefrt entity under FRS 102 Assets and liabilitse5 are InallY rewnEed at historical cost ortransa(thn value unless Otherwise stated In the k¥ant ac¢ountin9 poIiGy note5 Going concem The trustees consider that there a no matenal uncertainties about the ability to continue a5 a going conrn nor any swJnificant areas ol UnrtaInty that affea the (8rryiNJ value ol assets hell by the Tangible fixed assets Individual fix& assets are inallY co[Sj at cost. ss any sUbSeqnI acamuLgt&1 0epwiab.on and subsequent a(rumulated Impaim)ent losses. Deprociation and amorttsatlon Depreciation Is provided on tangible fixed assets so as to tAYite off the (x)st or valuth"on, less any estimated residual value, oVerthr expected u5ehJl econom life as fo1S.. - Land- not (Jepre¢iated - Buildin9s- 2% on cnsl - Furniture and fithrKJS- 15% on book val - Of[1 equipment- 25Qk on book value Page 10
Berkshlre Federation ofWomtn'$ IrBbtutes Year ending 31 Dember 2024 NOTES ON THE ACCOUNTS Debtorn Debtors are gnIS at the ttansaction pft &S pro¥Bw for inpairrnent A wovisw)n for the Impalmnt of debtors is estsblished ther8 Is obie¢bve eviden that tharty %4ill not be atAe to collect all amounts due aecttrdir#J to the onginal terrrns of ts recewables. cash and c35h equlvalents Cash and cAsh equivalents fA)rnprise cash on hand and other short-temi highly liquid invesbnents that are readily convertible to a Kno amount of cash arKI we subject io an IngnIfICant risk of thange In valLE. Flnancial instruments Classificadon Finanoal assets and finanual liaknlrtEs a wnised en the thanty neS a party to the contractual provisions of the Instrnment R•cognilion andmeasurnment All fiTh9noal assets and liabil$ are in"allY measured at transadk)n prKt l1rKgJIng transaction costs) Fair valuè na$uMmOnt The best evidentt of fair valje is a quoted piio for an thbcal asset in an a¢'ve mad(et. WlEn quoted prices are unavailable, the ee of a recent trans•an for an Identical asset providès evhlence of fair value as long as there has not been a svJnificant change in e(orni¢ (4uMS[]£es or a ggnificant lapse of lirne Sin the Iransaction tfM pla. Dfid Contrlbutfjon plan The charity cpeiates a ¢efi rnntnbutson Fengon scftff Wh 15 a nSiOn plan underwhich fiKed contributions are paid into a pension fun¢J and Ihe thanty has gaI or rxjnstrudive oblvJ8tron lo pay further conlnl>JtlOn5 even if the fuThJ dLEs not hold suffiaent assets to pay all employees the nefits rèlating to em Joyee 8ervK in the currtnt and pnor peri4$ Contributs'ons to defined contnbubon tyar6 are recognise(J In statnI of Finanoal Aciwrts tt)ey are due STAFF NUMBERS The average number of PeOr empK)yed by the drity dunrs the year is 212023- 31. STAFF BANDING No employees re¢eived emoyee trknefits ofmore than £60.0(K) TRUSTEE REMUNERATION AND BENEFtTS None ol the trustees have been any remunefabon or re(xved any other benefits from an employment ith charty TRUSTEE EXPENSES 8 trustees have had their expènses reimbursed in the yearftsr travel. acccYnc*abon other miscellaneous Items The reirnbursed exFenses totsl £1.17212023- 8 trustees had their expenses reimbursed at a total cost of £6991. RELATED PARTY TRANSACTIONS Therè re no related pasty transacb.ons in the repth"ThJ PwJe 11
Berkshire Federation of Women's Instltut¢s Y•ar•nding 31 DeGembor 2024 NOTES ON THE ACCOUNTS ICONTINUEDI 2024 Income Expense Income Eywse Net 9 CHARITABLE AcTIVlEs Fed&ratron Newslter PublicaiLor Educational ActNitr&É FWI Council bAeeliny National Meelirvjs Member Se1$ Archwos & Other ActNitN88 2.743 1.289 2.71$ 4.CQ2 617 2,030 1.229 2,7 920 7,528 7254 Z,581 1.793 4.B70 1.871 4.610 I3 2,595 478 t2 2.154 1.781 7C 1517 612 I7) (32J (4421 (546) 11.2501 11.146 12.213 10 GOVERNANCE Trustee Expenses Independent ExaTninatlL cio 1.172 1160 699 2.040 2.139 11 ADkllNISTRATION COSTS Salaries & Nl Pensions StafF cr1$ & Expense5 Rates. EleCtrty & Water Insurance TphOn• & Inlèmet Prinliw & Stabonery Postage W8Ste & GniN se5 Repairs and rerths Machinery & CcKnputer systn8 Equipment eontraets and serviuTrJ ank Charges Depreciion 18.417 77.214 371 378 1,106 705 741 317 131 857 4.7 17 611 136 264 758 It531 1.703 General fund costs 32.725 31, Capital Experk1iture House r8pairs Total admnistrK)n cc6ts 32.725 31.500 P•)è 12
Berkshlre F•d9rdlk•n of Wonwn's Inte8 Y•arondlng 31 D9cambsr 2024 NOTES ON THE ACCOUNTS ICONTINUEOI ZOZ3 E¥pensÈ Incomg 12 EDUCATIOt4AL ACTMTIES Arts & Crafls Speaker SeleGlion Ldsu Ow Future Wort 3.198 eg) 707 76 1.188 337 1.4&7 45T 429 9T4 169 976 553 79 76 1.643 669 365 2.154 716 1433 457 976 13 DONAMONS I GENERAL FUIIOS Donalior Cknsed VVIS Transfer To Hoe R(K)f Rep*1 NFWI AM AccOmodain FuTrJ olher Designaied Fthds 603 914 603 974 1.2 1,920 T,)3 167Q) (1.3? 440 2923 156 14 DOPIAnONS I RESTRICTED FUNDS House maintenan Fund argarel Latham 8ursary ISed In5tibJtes 1LXI 1,192 1, 192 13QOI 15 FLIIIDS GENERATION Federation Events 1.613 779 418 1.441 701 4T8 157 418 1.7 140 478 NFWI Raffle Cr8fL Stash Sa Lottery Evert CoMMee Exper 79 1401 4.671 3.105 P8ge 13
Berkshire Federation of Women's Institutes Year ondiwtg 31 December 2024 NOTES ON THE ACCOUNTS ICONnNUEDI 16 FIXED AS8Ers Fweehold property Furnlture & fftlings Total equlpment C05t at 1 January 2024 Addthons In thA yg.2r 101.877 8.193 21.164 131.233 Cost at 31 Decwntw 2024 101,877 8.193 21.164 131,233 Depr8ciatK)n at 1 January 2024 Gharge for the year 46.648 1.438 7.542 20,712 113 74,902 1,648 Depreciation at 31 De(wnter 2024 48.086 7,639 20,825 76,550 Net book value at 31 Drnter 2024 53.791 553 339 N&tbook value 81 31 Lkncwnber2023 55,229 651 451 56.337 17 INVESTMENTS 2024 2023 The Equit'es Inveslmeth Fund fcrf Chani*s General Fund 4,780.556 Income units at Gost Net gains on revaluatson to rnarket valua al 1 January 2024 Mafket value at 1 January 202414780 556 units @ 1469.52p) 25.7S) 42,851 68,601 25,7 44 501 70 25t Change in marf(etvJue durir¥J ihe 1.788 (7.0} Market value at 31 Decemtw 202414780.556 unrts @ 1434 ) 70,389 68.6Q? Margaret Latham Capital FUIKI Invested on 2 October 20171565.016 unrts @ 1415.89pl Net gains on revaluabon to martfèt valu8 at 1 January 2024 Market value at 1 January 20241565 016 unrt5 1469.52pl 303 8,303 8108 Charrfje in market value during the year 211 (1951 M8rf(et value at 31 Derner 20241565.016 units 1434.99p) 8, 708 Page 14
B•rkhlro Fgdo¥atk)n of Vrfomen'# Ir¥titLti Y•ar•nthg 31 D•cember 2024 )TES ON THE ACCOUNTS ICCrnNUEDI 2024 2023 18 4NNAGEDFIAIDS Insbiutes. In5uraKe NEWW9 Funds ACWN. PrgXt NFW Affilialth fpp8 NFWI pIng01r£S 915 197 ?.or2 3J 31.820 1.024 31 &3.246 31.91) 1.024 31.7 1.024 437 19 LESIGNATED FUNDS Centsnary Ftsnd (o) PromotnS Fund lex &(wFuTh11 P4FWI Ak4 AmnOn Fund Total 3.741 1747 is