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2024-08-31-accounts

Company Number: CE030109

REGISTERED CHARITY NUMBER: 1200218

Report of the Trustees and Examined Financial Statements for the Year Ended

31[st] August 2024 for

East Kent Federation of Women’s Institutes CIO

Bay Tree Accountancy Chartered Accountants Stelling Minnis Canterbury Kent CT4 6AA

East Kent Federation of Women’s Institutes CIO

Contents of the Financial Statements For the Year Ended 31[st] August 2024

Page
Report of the Trustees 1 to 5
Independent Examiner’s report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Financial Statements 9 to 12
Detailed Statement of Financial Activities 13 to 14

East Kent Federation of Women’s Institutes CIO

Report of the Trustees

For the Year Ended 31[st] August 2024

The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2024. The Trustees have adopted the provisions of 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 October 2019).

Incorporation

The charitable incorporated organisation was incorporated on 30 August 2022 and commenced trading on 1 January 2023.

REFERENCE AND ADMINISTRATION DETAILS

Registered Charity Number 1200218 Principal Address Suite D Crown House John Roberts Business Park Pean Hill Canterbury Kent CT5 3BJ

Trustees

Carol Evans - Chairman Susan Elizabeth Lansman - Treasurer Sheila Spiers - Vice Chairman Sandra Brown - Vice Chairman Gillian Bull - Vice Chairman Carol Davidson Susan Hankins Mary Telford Angela Coleman Julie Driver Hazel Bentley (appointed 19/03/2024) Joyce Coomber-Sewell (appointed 19/03/2024)

Independent Examiner

Bay Tree Accountancy Chartered Accountants Stelling Minnis Canterbury Kent CT4 6AA

Principal Bankers Lloyds Bank plc PO Box 1000 BX1 1LT

1

East Kent Federation of Women’s Institutes CIO

Report of the Trustees For the Year Ended 31[st] August 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The Charity is a charitable incorporated organisation, incorporated on 30 August 2022.

Risk Management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees have examined the major strategic, business and operational risks involved in the Charity's activities and are satisfied that the appropriate reports and information have been produced for the Charity's operation.

Public Benefit

The trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Commission in determining the activities undertaken by the charity.

Further information on the activities undertaken for the public benefit is given in the Objectives and Achievements sections of this report.

2

East Kent Federation of Women’s Institutes CIO

Report of the Trustees

For the Year Ended 31[st] August 2024

OBJECTIVES AND ACTIVITIES

Objectives and Aims

CHARTER

The Women's Institute organisation is based on the ideals of fellowship, truth, tolerance and justice. With its original roots in rural and agricultural communities, it now embraces the interests of women in both rural and urban communities. All women who are interested in the values and purposes of the Women's Institute organisation may join, no matter what their views on religion or politics may be. The organisation is non-sectarian and non-party political. This does not prevent Women's Institutes from concerning themselves with matters of political and religious significance, provided the views and rights of minorities are respected and provided the organisation is never used for party-political or sectarian purposes. Women's Institutes are charitable and everything they do must be consistent with that special legal status.

OBJECTS

The main purposes of the Women's Institute organisation are:

c) to advance health for the public benefit and

d) to advance citizenship for the public benefit by the promotion of civic responsibility and volunteering In purpose b) 'sustainable development' means the development which meets the needs of the present generation without compromising the ability of future generations to meet their needs.

The Women's Institute organisation seeks to give women the opportunity of working together through the Women's Institute organisation in their communities, of developing their capacity and skills, and of putting into practice those ideals for which The Women's Institute organisation stands

CONSTITUTION

A Federation is an association of Women's Institutes and which is formed with a constitution as laid down for Federations from time to time by the National Federation.

OBJECTS OF THE INDIVIDUAL FEDERATION

The objects of the Federation shall be to further the purpose of the Women's Institute movement in East Kent and elsewhere

3

East Kent Federation of Women’s Institutes CIO

Report of the Trustees

For the Year Ended 31[st] August 2024

ACHIEVEMENT AND PERFORMANCE

Annual Review

It has been another busy year for the Federation and our WIs with its usual quota of challenges, successes and failures.

Rising costs in all areas remains one of the greatest challenges the Board of Trustees faces as they

constantly seek ways to balance the books whilst trying to ensure that members enjoy the many benefits of belonging to this great organization.

Section 33 of the Charities Act 2022 came into force on 7[th] March 2024, we were then able to close the Unincorporated Charity on 14[th] May 2024 and the merger of the two charities was registered on 7[th] June 2024.

The remaining funds held in the HSBC account were transferred to the Lloyds Bank account and the HSBC account was closed on 1[st] July 2024.

The introduction and use of Quickbooks has greatly assisted with managing the finances and streamlining the work of our hardworking staff; we thank them for their efficiency and dedication.

The Annual Council Meeting took place on 19[th] March, once again at The Leas Cliff Hall in Folkestone, and members enjoyed listening to inspiring speakers, browsing the stalls, reviewing activities of the SubCommittees, Needlecraft Guild and Environment and Natural History Group, and catching up with friends.

Over the year members have been able to enjoy a variety of events including walks, talks, quizzes, craft day, Spring Garden Day, speaker audition meetings and a most interesting resolution discussion meeting.

Delegates and observers travelled to London by coach and train to attend the NFWI Annual General Meeting held in June at the Royal Albert Hall, a wonderful occasion, although it was tinged with sadness as this will be the last in person meeting for 3 years.

We are delighted to welcome two new Advisers to our WI Support Team and thank them for undertaking the requisite NFWI training and shadowing our established Advisers to learn the practicalities.

We have welcomed 3 new WIs to the Federation during the year and look forward to more in the future. Unfortunately, we have had to say goodbye to 2 WIs and would like to wish their members well for the future, whether this is in the WI or elsewhere.

4

East Kent Federation of Women’s Institutes CIO

Report of the Trustees For the Year Ended 31[st] August 2024

FINANCIAL REVIEW

Reserves Policy

The charity requires reserves to allow it to continue work to promote the interests of women in accordance with the charity’s objects in the event of unforeseen disruption to its income streams.

The Trustees’ policy is to hold sufficient free cash reserves to meet its working capital requirements and to mitigate the impact of risks.

Investment policy and objectives

The Founding deed grants the trustees wide powers of investment. The Trustees are satisfied as to the financial performance of the Charity’s investments and other charitable activities in the year.

FINANCIAL POSITION

The statement of Financial Activities shows net incoming resources of £14,227.

At 31[st] August 2024 the total funds of the charity totalled £486,796 (31[st] August 2023: £472,569) comprising restricted and unrestricted funds of £7,709 and £479,087 (31[st] August 2023: £4,865 and £467,704) respectively.

FUNDS HELD AS CUSTODIANS FOR OTHERS

The title to all real or personal property which may be acquired by or on behalf of the Federation shall be vested in not less than two and not more than four individual persons as holding Trustees or in the Official Custodian for Charities or in some other corporation lawfully entitled to act as custodian trustee.

ON BEHALF OF THE BOARD:

Carol Evans - Chairman - Trustee

Date: 03/02/2025

5

East Kent Federation of Women’s Institutes CIO

Independent Examiner’s report to the Trustees For the Year Ended 31[st] August 2024

I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 August 2024.

This report is made solely to the charity’s Trustees, as a body, in accordance with Part 4 of the Charities (accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity’s Trustees those matters I am required to state to them in an Independent Examiner’s Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s Trustees as a body, for my work or for this report.

Responsibilities and basis of report

As the Trustees of the Charitable Incorporated Organisation (and also its directors for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). 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 can 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 charity as required by section 386 of the 2006 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; or

  4. The accounts have been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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.

Dated: 03/02/2025

Sue Leitch BFP FCA FMAAT - Bay Tree Accountancy

6

East Kent Federation of Women’s Institutes CIO

Statement of Financial Activities

For the Year Ended 31[st] August 2024

Notes
INCOMING RESOURCES
Incoming Resources from generated funds
Charitable Income
Investment Income
2
Incoming resources from charitable
activities
Donations & Grants
Total incoming resources
RESOURCES EXPENDED
Cost of generating funds
Cost of generating charitable income
Governance costs
Other resources expended
Total resources expended
NET INCOMING(OUTGOING) RESOURCES
BEFORE TRANSFERS & NET GAINS/(LOSSES)
ON INVESTMENTS
Net gains/(losses) on investments
2
NET MOVEMENT IN RESOURCES
Total transfer due from EKFWI
(unincorporated)
Funds Transfer & Reclassification
MOVEMENT IN RESOURCES INCLUDING
TRANSFER & RECLASSIFICATION
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
CONTINUING OPERATIONS		 8 months
ending
31/08/24
31/08/23
Unrestricted &
Designated
Funds
Restricted
Funds
Total Funds
Total
Funds
129,254
2,844
132,098
98,906
838
-
838
740
8
-
8
24
130,100
2,844
132,944
99,670
74,967
-
74,967
49,373
74,032
-
74,032
51,144
6,298
-
6,298
6,919
155,297
-
155,297
107,436
(25,197)
2,844
(22,353)
(7,766)
36,580
-
36,580
11,878
11,383
2,844
14,227
4,112
-
-
-
468,457
-
-
-
-
11,383
2,844
14,227
472,569
467,704
4,865
472,569
-
479,087
7,709
486,796
472,569

All incoming resources and resources expended arise from continuing activities.

The notes form part of these financial statement

7

The East Kent Federation of Women’s Institutes

Balance Sheet

As at 31[st] August 2024

Notes
FIXED ASSETS
Tangible Assets
5
Investments
8
CURRENT ASSETS
Stock
6
Debtors
7
Prepayments
7
Cash at Bank and in Hand
CREDITORS
Amounts falling due within one year
9
NET CURRENT ASSETS/(LIABILITIES)
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
Unrestricted Funds
10
Designated Funds
10
Restricted Funds
10
TOTAL FUNDS		 Unrestricted
& Designated
Funds
Restricted
Funds
1,624
-
387,222
-		 31/08/24
31/08/23
Total
Funds
Total
Funds
1,624
1,804
387,222
350,642
388,846
-		 388,846
352,446
2,338
-
3,054
-
9,357
-
85,277
7,709		 2,338
2,875
3,054
16,635
9,357
9,266
92,986
112,069
100,026
7,709		 107,735
140,845
(9,785)
-		 (9,785)
(20,722)
90,241
7,709		 97,950
120,123
479,087
7,709		 486,796
472,569
479,087
7,709		 486,796
472,569
477,160
465,777
1,927
1,927
7,709
4,865
486,796
472,569

TOTAL FUNDS

The financial statements were approved by the Board of Trustees on 3[rd] February 2025 and were signed on its behalf by:

Carol Evans - Chairman – Trustee

The notes form part of these financial statements

8

East Kent Federation of Women’s Institutes CIO

Notes to the Financial Statement

For the Year Ended 31[st] August 2024

1 ACCOUNTING POLICIES

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 October 2019) - (Charities SORP (FRS102)); the Companies Act 2006 and the Charities Act 2011.

Basis of preparation

East Kent Federation of Women’s Institutes CIO 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 started in the relevant accounting policy notes.

Incoming Resources

All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Resources expended

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably, in which case they are measured at cost less impairment.

Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities incorporating the income and expenditure account.

Taxation

The charity is exempt from tax on its charitable activities.

Fund Accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees. Designated funds are ring-fenced by the Trustees for the purpose of meeting agreed contingencies. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. All income and expenditure is shown in the Statement of Financial Activities.

9

The East Kent Federation of Women’s Institutes

Notes to the Financial Statement For the Year Ended 31[st] August 2024

2 INVESTMENTS

NVESTMENTS
8 months
ending
31/08/2024 31/08/2023
£ £
Interest received 838 740
Gain/(Loss) from Investments 36,580 11,878

3 TRUSTEES’ REMUNERATION AND BENEFITS

There were no Trustees’ remuneration or other benefits for the period ended 31[st] August 2024 nor for the period ended 31[st] August 2023.

Trustees’ Expenses

There were Trustees’ expenses of £1,436 reimbursed for the period ended 31[st] August 2024 (8 months to 31[st] August 2023 - £614)

4 STAFF COSTS

The average number of full-time equivalent employees during the year was 2 and their total remuneration for the period to 31[st] August 2024 amounted to £25,223 (8 months to 31[st] August 2023- £18,808).

No staff received salaries at a rate of more than £60,000 per annum.

5 TANGIBLE FIXED ASSETS

Cost
At 01/09/2023
Transfer from EKFWI (unincorporated)
Additions
Disposals
At 31/08/2024
Depreciation
At 01/09/2023
Depreciation on disposals
Charge for year
At 31/08/2024
Net Book Value
At 31/08/2024
At 31/08/2023		 Fixtures & Fittings
Computer
Equipment
Totals
£
£
£
-
-
-
1,801
3
1,804
-
-
-
-
-
-
1,801
3
1,804
-
-
-
-
-
-
180
-
180
180
-
180
1,621
3
1,624
1,801
3
1,804

10

East Kent Federation of Women’s Institutes CIO

Notes to the Financial Statement For the Year Ended 31[st] August 2024

6 STOCKS

31/08/2024 31/08/2023
£ £
Sales and gifts stock 2,338 2,875
7 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/08/2024 31/08/2023
£ £
Sub-committee expenses 3,054 12,682
AGM (travel refund) - 2,217
Transfer due from EKFWI (unincorporated) - 1,736
Rates pre-payment/refund - -
Rental deposit & prepayments 9,357 9,266
12,411 25,901
8 FIXED ASSET INVESTMENTS
Investments
£
At 01/09/2023 350,642
Additions -
Disposals -
Revaluations 36,580
At 31/08/2024 387,222
Net Book Value
At 31/08/2024 387,222
At 31/08/2023 350,642
9 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/08/2024
31/08/2023
£ £
Other creditors 9,785 20,722

11

East Kent Federation of Women’s Institutes CIO

Notes to the Financial Statement For the Year Ended 31[st] August 2024

10 MOVEMENT IN FUNDS

Unrestricted Funds
General fund
Designated Funds
Contingency Fund
Restricted Funds
Funds of Suspended
Women’s Inst.
Total Funds		 At 01/09/23
Net movement in
funds
At 31/08/2024
£
£
£
465,777
11,383
477,160
1,927
-
1,927
-
-
-
4,865
2,844
7,709
472,569
14,227
486,796

Net movement in funds, included in the above are as follows:

Unrestricted Funds
General fund
Designated Funds
Contingency Fund
Restricted Funds
Suspended Women’s Inst.
Total Funds		 Incoming
resources
Resources
expended
Transfer
from EKFWI
(unincorp.)
Funds
transfer &
reclassification
Movement
in funds
£
£
£
£
£
166,680
(155,297)
-
-
11,383
-
-
-
-
-
2,844
-
-
-
2,844
169,524
(155,297)
-
-
14,227

Funds of Suspended Women’s Institutes

In line with WI guidance, the funds of suspended WI’s not reformed within three years are retained by the Federation and transferred to the General Fund.

11 RELATED PARTY DISCLOSURES

The Federation is affiliated to the National Federation of Women’s Institutes, which is based at 104 Kings Road, London, SW6 4LY, and is registered as a charity with the Charity Commission.

12

East Kent Federation of Women’s Institutes CIO

Detailed Statement of Financial Activities

For the Year Ended 31[st] August 2024

INCOMING RESOURCES
Charitable Income
National Affiliation Fees and Pooling of Fares
Federation Affiliation Fees
NFWI AGM
Sales and Gifts
NF Stationery and Publications
Sub-committees
Suspensions
East Kent News and Postage
Council Meetings
Diaries and Calendars
WI's Insurance Premiums
200+ Prizes
Speakers List
Raffle Share
Sundry Income
Investment Income
Interest Received
Incoming resources from charitable activities
Donations & Grants
Total incoming resources
RESOURCES EXPENDED
Costs of generating charitable income
National Affiliation Fees and Pooling of Fares
NFWI AGM
Sales and gifts
NF stationery
200+ Club
Re-formed WI’s
Expenses of sub-committee
Diaries & calendars		 8 months
ending
31/08/2024
31/08/2023
£
£
53,812
41,923
39,353
35,127
1,200
2,979
121
252
124
43
24,753
5,819
2,844
866
302
574
3,394
6,120
658
7
1,728
1,836
655
1,424
1,105
585
1,309
-
740
1,351
132,098
98,906
838
740
8
24
132,944
99,670
53,724
41,911
1,923
3,046
228
1,196
368
89
497
394
-
-
17,679
2,737
548
-
74,967
49,373

This page does not form part of the statutory financial statements

13

East Kent Federation of Women’s Institutes CIO

Detailed Statement of Financial Activities

For the Year Ended 31[st] August 2024

Governance costs
Rent & service charges
Rates & water
General insurance
WI Insurance
Light & heat
Repairs & maintenance
Accountancy fees
Professional fees
Salaries
Postage
Printing & stationery
Telephone, computer & internet
Committee expenses
Depreciation
(Profit)/Loss on disposal of assets
Bank charges
Cleaning
Training Costs
Sundry expenses
Other resources expended
East Kent News
Council meetings
Professional fees
Total resources expended
Gains/(Losses) on Investments
Net Income/(Expenditure)		 8 months
ending
31/08/2024
31/08/2023
£
£
22,109
14,022
1,416
686
1,288
1,228
1,609
1,535
717
1,636
786
785
4,700
1,855
3,948
2,619
25,223
18,808
460
658
4,109
2,198
1,304
1,214
4,127
2,655
180
-
-
-
274
186
812
748
40
-
930
311
74,032
51,144
-
-
3,847
3,305
2,451
3,614
6,298
6,919
155,297
107,436
36,580
11,878
14,227
4,112

This page does not form part of the statutory financial statements

14