**Draft Financial Statements**
**Charity Registration number 1210222**
## **BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES CIO TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 30 NOVEMBER 2025**
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## **Draft Financial Statements BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES CIO**
## **LEGAL AND ADMINSTRATIVE INFORMATION**
**Trustees** Jennifer Burton Mary Chapman Joycelyn Cull (Chairman) Kim Edwards (Vice chair) Lynn Foster ( Assistant Treasurer) Carole Green Susan Hamp (formerly Paxton) Hon Treasurer Margaret Kaye (Assistant Treasurer) Linda Nicholls Christine Richardson Thelma Sackman (Vice Chair) Charity number (Engand and Wales) 1210222 Principal address Unit 11 Bell Business Park Smeaton Close Aylesbury Buckinghamshire HP19 8JR Independent Examiner APS Accountancy Ltd 4 Cromwell Court New Street, Aylesbury HP20 2PB Bankers Lloyds Bank plc 27 - 31 White Hart Street High Wycombe Buckinghamshire HP11 2HL
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**Page** 1- 6
## **BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES CIO**
## **CONTENTS**
Trustees' report
Statement of financial activities
Balance sheet
Notes to the financial statements
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## **Draft Financial Statements BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES TRUSTEES' REPORT**
## **FOR THE YEAR ENDED 30 NOVEMBER 2025**
- 1 -
The Trustees present their report and the financial statements of the charity for the year ended 30 November 2025. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.
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) - Charities SORP (FRS 102)) and the Charities Act 2011.
## **Objectives and activities**
## **Policies and objectives**
The main purposes of the Women’s Institute organisation are:
- to advance the education of women and girls for the public benefit in all areas including (without limitation) local, national and international issues of political and social importance; music, drama and other cultural subjects; and all branches of agriculture, crafts, home economics, science, health and social welfare
- to promote sustainable development for the public benefit by educating people in the preservation, conservation and protection of the environment and the prudent use of natural resources, and promoting sustainable means of achieving economic growth and regeneration
- to advance health for the public benefit
- to advance citizenship for the public benefit by the promotion of civic responsibility and volunteering. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity
## **Strategies for achieving objectives**
The organisation will open new Institutes wherever possible and a dedicated committee will undertake this activity. They will also provide open meetings across the county in order to enhance communications with and retain existing members. These objectives are pursued through a Strategic Action Plan which is regularly monitored and reviewed by the Trustees.
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## **Draft Financial Statements BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025**
- 2 -
## **Activities for achieving objectives**
The **Board of Trustees** met eleven times in the year in person/hybrid electing its Officers in April 2025. They also held quarterly online Strategy Meetings. The Federation achieved legal CIO status in December 2024.
The year began with six Sub-Commitees who covered all the Federation fundraising activities, namely: Communications, Education, Leisure & Crafts, Member Support, Science
and Society and Speakers. The Education & Leisure and Crafts Sub Committees were merged in October 2025, now the Events Committee. The BFWI CIO Annual Council Meeting was held as an in-person meeting in April, after which the officers listed in this report were elected by the Trustees. In June, the Federation was represented at the virtual NFWI Annual Meeting. This began with a Companies Act Meeting at which the proposed new Constitutions for WIs, Federations and the National Federation of Womens Institutes were ratified by the Council Members. During the course o the year several Trustees attended meetings with other Federations, and the Federation Chair and Assistant Treasurer acted as delegates at Autumn National Council meetings in September and November.
Trustees held a number of Mix’n’Mingle events around the county inviting people to come and meet the Trustees. They also supported stalls organised by Member Support in order to promote the Federation and the benefits of WI membership at county events such as the Bucks County Show.
The Federation participates in and supports both Buckinghamshire Council and Milton Keynes Council in the Emergency Response Process and Resilience Scheme. WIs are encouraged to volunteer their services in the event of a local emergency. Training and scenario exercises are undertaken.
Production of the **Buckinghamshire News** digital newsletter continued with subscribers rising to 1763. A .pdf copy continues to be sent to every WI Secretary which can be circulated to their members either digitally or as a hard copy.
**The Communications Sub-Committee** assists the Trustees, staff and all Federation working groups on communication matters. Individual members or WIs are welcome to contact them for support or information on technological matters. They also manage the website and social media platforms and cover the role of Press Officer.
This year in liaison with the Trustees they have provided updated guidance documents to WIs on digital matters eg GDPR and use of WhatsApp. They have encouraged and offered support to our WIs to create generic email accounts for their WI to ensure continuity and have re-drafted essential items such as the Events Budget Form used by the Federation. This now includes a results sheet so that the Federation can better track the success of fundraising efforts. The Federation’s canva.com account is used to create the monthly newsletter and is now available for use by Federation volunteers in creating publicity materials for events.
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## **Draft Financial Statements BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025**
- 3 -
**The Education Sub-Committee** was formed to provide educational events for Buckinghamshire members after the demise of Denman College with a view to using the proposed Denman funding process when announced. The Trustees will continue to investigate how the Federation might engage in the bidding process for funding that has been created. The committee have organised Well-being Days and Literary Lunches and also an event to showcase the WI Learning Hub held at Bell Park.
**The IFE team** is a small team of 7 have examined full year accounts for 61 WIs in addition to those WIs suspended at the end of 2024/beginning of 2025. The team also continue to offer support and advice to WIs on request via the IFE on Duty Scheme in Buckinghamshire News.
**The Leisure and Crafts Sub-Committee** held a Christmas Wreath making event at Bell Park and an Archery event in July. Two Jigsaw Challenges were held one in February and one in October. The inter-federation quiz rounds were held in March and the final was held in Bedfordshire in June.
**The Member Support Sub-committee** are responsible for the promotion of the WI ethos amongst our 91 WIS. The committee is comprised of the Chair, 4 WI Advisers, the Digital Team Leader and a materials creator and has secretarial support from the Federation Secretary. The Advisers deal with the formation, suspension and enlargement of WIs in the county but also importantly provide advice and support to all WI Committees and members as required. Formal and informal training events are held to facilitate the running of WIs. This year there has been Officer Training, Adviser Drop Ins and New Member sessions. The end of August saw the departure of 1 of our 5 WI Advisers, meaning that the remaining 4 are allocated 23 WIs each for which they provide direct help. This is a huge undertaking therefore the whole team appreciates kindness and patience from WIs if shortage of available volunteer hours leads to any delay in responses.
**The Science and Society Sub-committee** held another successful Investigation & Discovery event in March with four speakers plus a fifth from the NFWI Public Affairs Committee. A “Pop Up” advertising stall was held at Winslow Farmers Market and an ACWW Women Walk the World event in Waddesdon in April. In May committee members were given a guided tour of “Thrift Farm” Whaddon near Milton Keynes. In September the Chairman and Vice-Chairman attended the Peers for Gambling Reform Summit in London, a follow up on two previous Bucks generated resolutions. Five “Insight Talks” held on Zoom have been arranged for members. The Federation Climate Ambassador (NFWI appointed) raises awareness of climate related matters by reporting to this committee and submitting relevant items to the Newsletter.
**The Speakers Sub-Committee** auditions speakers and compiles the Speakers Listing, this year it has become fully digital, is updated quarterly with hard copies only provided to WIs annually on request. This has been a huge undertaking but will result in a more accurate and useful resource for our WIs. Auditions have continued to be held at smaller WIs, attended by members of the committee with the usual full days of auditions held each September, March and June. Audition days are well supported by members.
**Public benefit**
The Trustees confirm that they have complied with the duty in the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit. The Trustees confirm that there are no serious incidents or other matters which they should have brought to the attention of the Charity Commission.
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## **Draft Financial Statements BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025**
- 4 -
## **Achievements and performance**
## **Investment policy and performance**
Investments are in low-risk, diverse managed funds and government bonds. The Trustees consider these to be appropriate for the foreseeable future, but continue to review investments and assets held and to seek regular advice on this from fund managers.
Currently investments are made in the Charities Official Investment Fund (CCLA) and in National Savings and Investments (NS&I) with the authority of the Trustees.
## **Other key policies**
The Federation has the following policies:
## **Code of Conduct**
## **Complaints Policy: There are no complaints**
**Conflicting interests** : Trustees completed the register of interests and dependents.
## **Equality Diversity & Inclusion**
## **Ethical Policy**
## **Paying Staff**
## **Risk Management**
## **Safeguarding children and vulnerable adults**
## **Financial Review**
The balance sheet shows total reserves of £837,302 (2024: £869,126) which represents the
accumulated assets and liabilities of the federation £549,936 (2024: £550,778) relates to
restricted funds and £29,887 (2024: £36,551) is represented by fixed assets leaving £257,480 (2024
£281,797) of free reserves. This represents approximately 24 months' total resources
expended. These reserves ensure that provision is in place for the lease, servicing and maintenance of the office property, Bell Park, and that a satisfactory contingency fund is available to cope with unexpected administrative eventualities. An annual budget is
prepared. Principal funding sources are members' annual subscriptions, fundraising activities and investment income. There is an overall deficit of £27,740 (2024: £22,040 deficit) comprising a deficit on general unrestricted funds of £32,834 and on restricted funds a surplus of £5,094. Income decreased in the year by 11%.
In accordance with current legislation the Federation has a pension scheme with NEST.
## **Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies
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## **Draft Financial Statements BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025**
- 5 -
## **Reserves policy**
The Trustees consider that a minimum of 12 months’ total resources expended should be held in reserve. Unexpected administrative eventualities are a real possibility whilst running the Federation with a minimum staffing level of one full-time and one part-time employee along with bookkeeping consultancy support Volunteer help is used to cope with a variable workload but should not be relied upon indefinitely. The Federation relies heavily on the goodwill and enthusiasm of volunteers to raise funds. This results in fat and lean years so adequate reserves are needed to cover any major shortfall
All events run by the Federation are intended to be self-financing or to raise funds for the benefit of BFWI The Federation does not employ professional fundraisers so making a loss is always a possibility and must be accommodated within its finances.
## **Structure, governance and management**
The Federation is a registered charity, governed by the Constitution and Rules for County Federation of Women’s Institutes CIO.
## **Future developments**
Buckinghamshire Federation of Women’s Institutes CIO plans to
- a) maintain and increase the membership
- b) ensure members’ concerns and interests are addressed
- c) manage resources effectively
- d) continue to address issues of concern for Public Benefit
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## **Draft Financial Statements BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025** - 6 - **Statement of Trustees' responsibilities**
The Trustees 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).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: • select suitable accounting policies and then apply them consistently; • observe the methods and principles of the Charities SORP (FRS 102); • make judgements and accounting estimates that are reasonable and prudent; • state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees' report was approved by the Board of Trustees.
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.............................. .............................. .............................. ..............................
Joycelyn Cull Susan Hamp
Chairman Honorary Treasurer
Date: ............................................. 25 April 2026
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**Independent Examiner's Report to the Trustees of Buckinghamshire Federation of Women's Institutes CIO Independent Examiner's report to the trustees of Buckinghamshire Federation of Women's Institutes CIO (the Company)**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 November 2025.
## **Responsibilities and basis of report**
As The trustees of the Charity and of the Company (and also for the purposes of the 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 Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination.
I report to the charity trustees on my examination of the accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act') in carrying out my examination I have folloed the Directions given by the Charity Commission under section 145(5) of the 2011 Act.
## **Independent Examiners 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 Company 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 396of 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 (FRS102).
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.
Daniel Drury FCCA
APS Accountancy Limited 4 Cromwell Court New Street
Aylesbury Buckinghamshire HP20 2PB
Date......................................
## **BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES CIO**
**STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 NOVEMBER 2025**
|**Notes**
**Income from:**
Donations and legacies
**2**
Income from charitable activites
**5**
Income from other trading activities
**3**
Investments
**4**
**Total income**
**Expenditure on:**
Expenditure on raising funds
**6**
Charitable activities
**7**
Other
**11**
**Total expenditure**
**Net (outgoings)/income for the year**
Gross transfers between funds
**Net (expenditure)/income for the**
**year/ Net movements in funds**
Fund balances at 1 December 2024
**Fund balances at 30 November 2025**|**Unrestricted Funds**
**2025**
**£**
200
56,540
1,700
25,777
84,217
16,057
73,095
27,899
117,051
(32,834)
4,525
(28,310)
318,348
290,038|**Restricted**
**Funds 2025**
**£**
1,660
-
-
3,434
5,094
-
-
-
-
5,094
(4,525)
570
550,778
551,348|**Total**
**2025**
**£**
1,860
56,540
1,700
29,211
89,311
16,057
73,095
27,899
117,051
(27,740)
-
(27,740)
869,126
841,386|**Total 2024**
**£**
13,451
51,491
1,809
33,690|
|---|---|---|---|---|
|||||100,441|
|||||20,466
75,228|
|||||26,787|
|||||122,481|
|||||(22,040)
-|
|||||(22,040)
891,165|
|||||869,126|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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Draft Financial Statements
BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES CIO
BALANCE SHEET
AS AT 30 NOVEMBER 2025
2025 2024
Notes £ £ £ £
Fixed assets
Tangible assets 13 29,887 36,551
Current assets
Stocks 14 2,107 2,107
Debtors 15 3,416 3,114
Investments 16 816,787 857,549
Cash at bank and in hand 30,907 15,324
853,217 878,094
Creditors: amounts falling due within (45,801) (45,519)
one year 17
Net current assets 807,416 832,575
Total assets less current liabilities 837,303 869,126
Income funds
Restricted funds 18 549,936 550,778
Unrestricted funds 287,367 318,348
837,303 869,126
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The financial statements were approved and authorised for issue by the Trustees on
Joycelyn Cull
Chairman
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25 April 2026
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## **Draft Financial Statements BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES CIO**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025**
## **1. Accounting policies**
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the Charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts.
## **1.2 Going concern**
The trustees have reviewed the charity’s financial position and cash flow projections for the period of at least 12 months from the date of approval of the financial statements. Based on this review, the trustees have a reasonable expectation that the charity will continue as a going concern, notwithstanding the planned incorporation and transfer of assets and liabilities to the newly established entity, Buckinghamshire Federation of Women's Institute CIO.
The trustees are confident that the charity’s operations will continue uninterrupted through this transition, and that the new entity will be in a position to meet its financial obligations as they fall due. The transfer of assets and liabilities to the new entity will be carried out in accordance with all relevant legal and regulatory requirements, and is not expected to affect the charity’s ability to continue operating in the foreseeable future.
The trustees have also considered any potential risks or uncertainties that could impact the charity’s ability to continue as a going concern and believe that these risks are adequately managed or mitigated through the transition process. As a result, the trustees consider it appropriate to prepare the financial statements on a going concern basis.
## **1.3 Charitable funds**
General funds are uunrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Trustees and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Trustees for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund are set out in the notes to the financial statements.
## **1.4 Income**
All income is recognised when the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
For legacies, entitlement is taken as the earlier of the date on which either: the Trustees is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the Trustees has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material..
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## **Draft Financial Statements BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025**
## **1. Accounting policies**
**(Continued)**
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the the charity and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
Charitable activities and Governance costs are costs incurred on the charity's educational operations, including support costs and costs relating to the governance of the Trustees apportioned to charitable activities.
## **1.6 Tangible fixed assets**
All assets costing more than £200 are capitalised.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Other fixed assets Nil
Current 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 fair value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading ‘Gains/(losses) on investments’ in the Statement of Financial Activities.
## **1.7 Impairment of fixed assets**
At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
**1.8 Stocks** Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs.
## **1.9 Interest receivable**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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## **Draft Financial Statements BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025**
## **1. Accounting policies**
**(Continued)**
## **1.10 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
## **1.11 Financial instruments**
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2. Income from donations and legacies**
|**2. Income from donations and legacies**|||||
|---|---|---|---|---|
|Donations and gifts
Gift Aid
**3 Income from other trading activities**
other income Raffle & bulb scheme
**4 Investments**
Investment income|**Unrestricted Funds**
**2025**
**£**
200
-
200
1,700
**Unrestricted Funds**
**2025**
**£**
25,777|**Restricted**
**Funds 2025**
**£**
1,660
1,660
**Restricted**
**Funds 2025**
**£**
3,434|**Total**
**2025**
**£**
1,860
-
1,860
1,700
**Total**
**2025**
**£**
29,211|**Total 2024**
**£**
13,195
256|
|||||13,451|
|||||1,809|
|||||**Total 2024**
**£**
33,690|
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## **Draft Financial Statements BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025**
**5 Income from charitable activities**
|Goods and Stationery
Speakers
Annual Meetings BFWI & NFWI
Board of Trustees events for members
Education
Leisure and Crafts
Science and Society
Communications, Archives, Resilience
Member Subscriptions/Support
Newsletters and postage
**6 Expenditure on raising funds**
Fundraising trading expenses
Special project and support costs
Raffles and bulb scheme
**7 Expendiure on charitable activities**
**Direct Costs Includes allocated**
Goods and Stationery
Speakers
Annual Meetings BFWI & NFWI
Board of Trustees events for members
Education
Leisure and Crafts
Science and Society
Communications, Archives, Resilience
Member Subscriptions/Support
Newsletters and Secretarial|**Unrestricted**
**Funds**
**2025**
**£**
1,088
4,868
1,040
273
4,401
1,116
1,964
-
41,790
-
56,540
**Unrestricted**
**Funds**
**2025**
**£**
12,043
4,014
16,057
**Charitable**
**Expenditure**
**2025**
**£**
2,617
5,143
8,870
6,479
6,932
4,609
4,862
6,721
5,365
21,496
73,095|**Total 2024**
**£**
671
1,212
3,739
820
1,748
568
2,184
-
40,399
150|
|---|---|---|
|||51,491|
|||**Total 2024**
**£**
16,345
4,121|
|||20,466|
|||**Charitable**
**Expenditure**
**2024**
**£**
2,949
4,748
11,837
6,714
5,375
4,880
5,072
7,134
4,944
21,575|
|||75,228|
Page 15
## **Draft Financial Statements BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025**
## **8 Support Costs**
|**8 Support Costs**|||||
|---|---|---|---|---|
|Salaries and Staff Costs
Depreciation
Telephone
Bank charges
Cleaning of premises
Insurance
Electricity
General Rates
Repairs/Rental/Maintenance
Stationery and office expenses
Sundries
Legal and professional
Governance costs
Analysed between other - non support
costs|**Raising funds**
**£**
6,793
1,200
317
80
148
587
500
279
479
983
11,365
11,365|**Charitable**
**activities**
**£**
30,923
5,464
1,442
365
675
2,671
2,276
1,268
2,179
4,475
17,187
68,925
36,766
105,691|**2025**
**£**
37,716
6,664
1,758
445
823
3,258
2,776
1,547
2,658
5,458
-
17,187
80,290
36,766
117,056|**2024**
**£**
42,866
6,749
1,454
-
1,053
2,922
3,398
1,467
3,355
6,284
1,385
(251)
11,723|
|||||82,405|
|||||40,076|
|||||122,481|
## **9 Trustees**
None of the Trustees (or any person connected with them) received any remuneration or benefits from the Charity during the year.
## **10 Employees**
The average monthly number of employees during the year was:
|Employees
**Employment Costs**
Wages and salaries
Social security costs
**11 Other**
Other expenditure - rent payable|**2025**
**Number**
2
**2025**
**£**
36,788
928
37,716
**Unrestricted**
**Funds**
**2025**
**£**
27,899
27,899|**2024**
**Number**|
|---|---|---|
|||3|
|||**2024**
**£**
42,005
861|
|||42,866|
|||**Unrestricted**
**Funds 2024**
**£**
26,787|
|||26,787|
## **12 Taxation**
The charity is exempt from taxation on its activites because all its income is applied for chaitable purposes.
Page 16
## **Draft Financial Statements**
## **BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025**
|**13 Tangible fixed assets**
**Fixtures and Fittings/Leasehold improvements**
**Cost**
At 1 December 2024
At 30 November 2025
**Deprecation and impairment**
At 1 December 2024
Depreciation charged in the year
At 30 November 2025
Carrying Amount (NBV)
**14 Stocks**
Finished goods and goods for resale
**15 Debtors**
**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments and accrued income
**16 Current asset investments**
National Savings Income Bond
COIF Charities Deposit Account
**17 Creditors**
**Amounts falling due within one year:**
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income|**2025**
**£**
68,987
32,436
6,664
39,100
29,887
**2025**
**£**
2,107
**2025**
**£**
543
-
2,873
3,416
**2025**
**£**
723,221
93,566
816,787
**2025**
**£**
3,501
34,165
2,423
5,712
45,801|**2024**
**£**
68,987|
|---|---|---|
|||32,436|
|||36,551|
|||**2024**
**£**
2,107|
|||**2024**
**£**
85
110
2,919|
|||3,114|
|||**2024**
**£**
723,221
134,328|
|||857,549|
|||**2024**
**£**
2,653
33,684
2,091
7,091|
|||45,519|
Page 17
## **Draft Financial Statements**
## **BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025**
## **18 Restricted funds**
The restricted funds of the chairty comprise the unexpended balances of donations and grants held in trust subject to specific conditions by donors as to how they may be used.
|by donors as to how they may be used.||||||
|---|---|---|---|---|---|
|Denman - Bucks Room
Closed WIs
WI Support Fund
Millenium Fund
Memorial Fund
Ripp Fund
Eyre Fund
Named Fund
Celebration Fund
Lady Legge Fund
EM Saunders Fund
Joyce Wilton Fund
20-10 Fund
Anne Liverseidge Fund
Diane Kemp Fund
Property Fund|**Balance at 1**
**December 2024**
**£**
(10)
18,541
2,618
5,267
14,007
1,073
2,102
14,010
933
1,889
333
7,896
1,914
5,073
5,132
470,000
550,778|**Restricted**
**funds**
**£**
805
85
464
603
43
84
609
38
82
13
342
83
210
223
3,683
**M**|**Resources**
**expended**
**£**
-
**ovement in funds**|**Transfers**
**£**
(1,000)
(1,135)
(440)
(250)
(275)
(275)
(330)
(420)
(400)
(4,525)|**Balance at**
**30**
**November**
**2025**
**£**
(10)
19,346
1,703
4,596
14,170
866
1,911
14,619
696
1,641
346
7,818
1,997
4,883
5,355
470,000|
||||||549,936|
Page 18
## **Draft Financial Statements BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025**
## **18 Restricted funds (Continued)**
## **Restricted Funds**
_Note: Includes changes to governing documents of some bursaries as approved by Trustees at the November 2021 Board meeting._
**Closed Women’s Institutes** fund and transfers - If an institute suspends monies are deposited into this fund. If a suspended institute does not re-open within three years, the money is transferred into general funds.
**WI Support Fund (was Needy fund)** - This is an amount set aside for institutes that are in need of financial assistance.
**Property fund** – This fund will be set up from the proceeds of the sale of Stuart Lodge and set aside for any future purchase of buildings or land.
_The following restricted funds represent funds for awards only available for Women’s Institutes’ members in Buckinghamshire:_
**Millennium fund** - This fund provides an annual bursary for any residential education or training course, delivered by the Denman Trust or other providers as approved by the BFWI Board of Trustees.
**Memorial fund** - This fund provides an annual bursary for any two-day residential education or training course, delivered by the Denman Trust or other providers as approved by the BFWI Board of Trustees.
**D&D Ripp** fund - This fund was set up to provide an annual bursary towards the course cost, alternating between Art and Photography, to be taken anywhere.
**Elizabeth Eyre** fund - This fund provides an annual bursary for a Craft course.
**Named** funds - This consists of the Strode and Beckton funds. The Strode fund provides a biennial bursary for a fun music course delivered by the Denman Trust or other providers as approved by the BFWI Board of Trustees; the Beckton fund provides a bursary for any residential course. Awarded in alternate years.
**Celebration** fund - This fund provides a biennial bursary for any residential course.
**Lady Legge** - This fund provides an annual bursary for any residential education or training course, delivered by the Denman Trust or other providers as approved by the BFWI Board of Trustees.
**E M Saunders** - This fund provides an annual bursary for a cookery course, delivered by the Denman Trust or other providers as approved by the BFWI Board of Trustees.
**Joyce Wilton** - This fund provides an annual bursary open to members of Prestwood and Prestwood Evening WIs only, to be used for an educational trip or outing according to the wishes of Ms Wilton’s family.
**20-10 fund** - This fund provides an annual bursary towards a two-night residential education or training course, delivered by the Denman Trust or other providers as approved by the BFWI Board of Trustees.
**The Ann Liverseidge Music Bursary** - This fund was set up to provide an annual bursary towards a music course.
**Diane Kemp Bursary** - This fund was set up to provide an annual bursary towards an education course for WI members who are resident either in Aylesbury or to the North of Aylesbury.
Page 19
## **Draft Financial Statements BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025**
**18 Restricted funds (Continued)**
**19 Analysis of net assets between funds**
|**19 Analysis of net assets between funds**||||
|---|---|---|---|
|**At 30 November 2025:**
Tangible assets
Current assets /(liabilities)
**At 30 November 2024:**
Tangible assets
Current assets /(liabilities)|**Unrestricted**
**Funds 2025**
**£**
29,887
257,480
287,367
**Unrestricted**
**Funds 2024**
**£**
36,551
281,797
318,348|**Restricted**
**Funds**
**2025**
**£**
549,936
549,936
**Restricted**
**Funds**
**2024**
**£**
550,778
550,778|**Total**
**2025**
**£**
29,887
807,416|
||||837,303|
||||**Total**
**2024**
**£**
36,551
832,575|
||||869,126|
## **20 Related party transactions**
There were no related party transactions during the year (2024 - none).
## **21 Pension commitments**
The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £182(2024 - £156) were payable to the fund at the balance sheet date and are included in creditors.
## **22 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
## **23 Trustee's remuneration and expense**
During the year, no trustee received any remuneration or other benefits (2024 - £Nil).
During the year ended 30 November 2025, expenses totalling £2079 were reimbursed or paid directly to 12 Trustees (2024 - £642 to 12 Trustees).
## **24 Operating lease commitments**
## **Lessee**
At the reporting end date the Charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases which fall due as follows:
|Within one year
Between two and five years|**2025**
**£**
26,833
26,833|**2024**
**£**
17,502|
|---|---|---|
|||17,502|
Page 20