Clwyd Flint Federation of Women`s Institutes
Financial Statements
31 December 2020
Charity number 217004
Index
Page
1 Trustee Report 2 Accountants Report 3 Balance Sheet 4 Profit and Loss Account 5 Notes to the accounts 6 Notes to the accounts
Clwyd- Flint Federation of Women`s Institutes
Report of the Trustees
Year end 31 December 2020
Objects
The objects of the charity are to educate women and to enable them to expand their horizons and develop. This is in accordance with the constitution and rules of the National Federation of Womens`s Institutes.
Activities and achievments
The charity organises courses of instruction and training, which take place throughout the year. The new officers workshop took place in February and this proved to be very successful as it gives guidance to the new appointed officers of the individual Wis.
Other arrangements were going to plan until the 18th March 2020 when the office closed due to the lockdown instructions from the Welsh Government as a result of the Covid-19 pandemic. The office remained closed for the rest of the year, which caused the cancellation of the Pamper Evening and Autumn Council Meeting, as well as the photography course and the Annual Public Affairs quiz. The Annual Denbigh and Flint Agricultural Show was also cancelled so there was no competition between Clwyd-Flint and Clwyd-Denbigh.
The Board of Trustees were able to meet virtually via zoom meetings. The Chairman contacted all Presidents of the 33 WIs in August to see how they were coping and keeping in touch with members. Unfortunately, not all members are computer literate and the various WIs found several ways of keeping in touch with each other with Newsletters, phone calls and visits to chat outside members houses. This was very important especially for the members who live on their own and whose families were not able to visit. This continued throughout 2020.
Finances
Following a problem with HSBC, the Board of Trustees agreed to open a new Bank Account with NatWest.
Trustees
Celia Rogers continued as the Federation Chairman, Audrey Jones and Chris Rendall continued their roles as Vice Chairmen.
Following the resignation of the Federation Treasurer, June Jones, at the end of 2019 Janet Henshaw was appointed the new Federation Treasurer from January 2020. Awena Taylor also retired from the Board in March 2020.
Helen Marsh was welcomed as a new member to the Board.
The other trustees are Pat Simpson, Audrey Jones, Janet Evans, Chris Rendall, Anne Sanderson, Emma Russell.
Policy on reserves
The trustees have determined that the charity should maintain reserves equivalent to at least two years of running costs.
Risk Assessment
The trustees confirm that the original systems have been established. However, due to the Covid-19 pandemic new Risk Assessments were introduced for when the community returns to a form of normality and venues re-open and these will be put into force before any activities are able to take place to ensure the safety of members.
Signed by order of the Board of Trustees
Celia Rogers
Chairman
9th April 2021
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Clwyd- Flint Federation of Women`s Institutes
INDEPENDENT EXAMINERS REPORT
I report on the financial statements of the Charity for the year ended 31 December 2020 set out on pages 3 to 9
Respective responsibilities of Trustees and Examiner
The Charity's Trustees are responsible for the preparation of the accounts. The Charity's Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011(the Charities Act) and that an independent examination is needed.
It is my responsibility to:
examine the accounts under section 145 of the 2011 Act;
to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act); and
to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of unusual items or disclosures in the accounts and seeking explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
Independent examiners statement
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that, in material respect, the requirements:
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to keep accounting records in accordance with section 130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or
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(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Craig Wynne FCA
AC Accountants
9th April 2021
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Clwyd- Flint Federation of Women`s Institutes
Balance Sheet
31 December 2020
| 31.12.20 | 31.12.19 | |||
|---|---|---|---|---|
| Fixed Assets | ||||
| Tangible Assets | 413 | 551 | ||
| Investments | 61650 | 69997 | ||
| 62063 | 70548 | |||
| Current Assets | ||||
| Stock held for resale | 3500 | 3945 | ||
| Prepayments | 0 | 0 | ||
| Virgin deposit account | 9074 | 9030 | ||
| Cash in bank and in hand | 8022 | 6825 | ||
| 20596 | 19800 | |||
| Current Liabilities | ||||
| Creditors and accruals | 0 | 0 | ||
| Trelawnydd WI | 998 | 998 | ||
| 998 | 998 | |||
| Net Current Assets | 19598 | 18802 | ||
| TOTAL ASSETS LESS CURRENT LIABILITIES | £ | 81661 | £ | 89350 |
| CHARITY`S FUNDS | ||||
| Unrestricted funds | ||||
| General fund | 64057 | 62100 | ||
| Unrealised gains/losses on investments | 17547 | 25894 | ||
| 81604 | 87994 | |||
| Resticted funds | ||||
| Denman Travel fund | 0 | 0 | ||
| Buckley WI fund | 0 | 574 | ||
| Tree Fund | 0 | 201 | ||
| Pennies for Friendship | 57 | 581 | ||
| 57 | 1356 | |||
| TOTAL FUNDS | £ | 81661 | £ | 89350 |
These financial statements were approved by Board of Trustees on 9th April 2021
Signed on behalf of the Board of Trustees 9th April 2021
Celia Rogers Janet Henshaw Chairman Treasurer
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Clwyd- Flint Federation of Women`s Institutes
Profit and Loss account
Year ended 31 December 2020
| Unrestricted Income & Expenditure Subscriptions NFWI Subscriptions CFWI Council meetings Pooling of Fares Sale of goods Stock adjustment 500 club Fundraising Afternoon tea Denman appeal Public affairs & international Arts & Crafts Courses Carol service Diaries Room hire MET insurance Shows & days out Speakers Membership Newsletters Music,drama,leisure Trustees travel expenses NFWI Walking netball Sundry Donations Grant Flintshire Furlough claims Agnes Salter Fund Buckley bank account Tree fund Pennies for Friendship Office Overhead Secretary`s salary Pension contributions Rent Service charge Telephone & Broadband Postage and Stationery Photocopier Adverts General office expenses Electrcity Insurance Removal costs Accounting and Bookkeeping Bank charges Depreciation Profit sale of assets Profit / (Loss) on normal activities Losses/Gains on investments Interest received Loss / (Profit) for the year |
TOTAL 2020 Incoming Outgoing Net £ 10433 10433 8766 9561 -795 1621 1284 337 1008 1238 -230 262 262 445 -445 1055 470 585 804 33 771 0 0 0 52 52 0 0 0 0 801 849 -48 325 -325 0 0 132 -132 0 317 -317 0 0 153 153 1000 1000 1000 1000 2960 2960 0 574 574 351 351 560 560 31400 14654 16746 8402 161 4434 309 200 504 82 720 138 14950 1796 -8347 161 -6390 |
TOTAL 2019 Net £ -68 9221 827 -115 151 -805 660 1460 0 518 0 167 0 365 -207 -229 -35 0 -701 0 128 -83 -947 150 750 750 21 21 21 -75 -75 0 0 11153 8207 146 3279 1763 367 308 990 394 137 300 115 184 16190 -5037 12255 214 7432 |
|---|---|---|
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Clwyd- Flint Federation of Women`s Institutes
NOTES TO THE FINANCIAL STATEMENTS
Year ended 31 December 2020
1. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis (except that investments are shown at market value) in accordance with:
Accounting and Reporting by Charities - Statement of Recommended Practice (SORP 2005); Accounting Standards; and Charities act 2011. The particular accounting policies adopted are described below.
Tangible fixed assets
Tangible fixed assets are valued at cost or, if gifted, at the value to the Charity on receipt. Depreciation is provided on cost in equal annual instalments over the estimated useful lives of the assets. The rates of depreciation are as follows: Computer Equipment 25% Office Furniture 25% Investments Investments quoted on a recognised exchange are valued at market value. Unrealised gains and losses resulting from revaluing investments to market value at the end of the year are recorded in the Statement of Financial Activities.
Stock of merchandise held for resale
Stocks are stated at the lower of cost and net realisable value. Net realisable value is based on estimated selling price.
Leases
Operating lease rentals are charged to income in equal annual amounts over the lease term.
Income recognition
Income is recognised in the Statement of Financial Activities when the Charity becomes entitled to the resources, the Trustees are virtually certain they will receive the resources, and the monetary value can be measured with sufficient reliability. When income has related expenditure, the income and the expenditure are reported gross in the Statement of Financial Activities.
Grants and donations
Grants and donations are only recognised in the Statement of Financial Activities when the Charity has unconditional entitlement to the resources. Where grants have been received to fund the purchase of tangible fixed assets, this income and the depreciation of the associated assets is recorded in the capital grant fund. Gifts in kind
Gifts in kind are accounted for at a reasonable estimate of their value to the Charity or the amount actually realised. Gifts in kind for use by the Charity are included in the Statement of Financial Activities as income when receivable.
The charity employs one part time member of staff ( 2019 - 1 )
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Clwyd- Flint Federation of Women`s Institutes
NOTES TO THE FINANCIAL STATEMENTS (continued) Year ended 31 December 2020
| 2. Tangible Fixed Assets Cost 1st January 2020 Sales Additions 31st December 2020 Depreciation 1st January 2020 Sales Charge for year 31st December 2020 Net Book Value 31st December 2020 31st December 2019 3. Investments Fair market value At 1st January 2020 Net loss on revaluation At 31st December 2020 At 31st December 2020 M & G Charibond (3892 units) M & G Charifund (233 units) |
p equipmen t Office Furniture Total 3436 656 4092 0 3436 656 4092 3162 379 3541 69 69 138 3231 448 3679 205 208 413 274 277 551 £ 69997 -8347 61650 Cost Market value £ £ 5000 4884 34917 56766 39917 61650 |
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4. Funds
| At 1st January 2020 Net incoming resources Gains & Losses on investments Transfer between funds At 31 December 2020 |
General fund Tree Fund Pennies for Frienship Unrealise d gains/los ses on investme nts Closed Institute` s fund Denman Travel fund Total £ £ £ £ £ £ £ 62100 201 581 25894 574 0 89350 472 150 36 658 -8347 -8347 1485 -351 -560 -574 0 64057 0 57 17547 0 0 81661 |
|---|---|
Closed Institute`s fund
This fund represents monies received from local WI`s upon their closure. If a WI re-opens within 3 years.the funds are returned to the WI.If at the end of the 3 years the local WI has not re-opened, these monies are transferred to the general fund. This fund is represented by cash at bank
Denman Travel fund
The purpose of this fund is to provide assisstance with travel costs for those members attending a course at a Denman college. This fund is represented by cash at bank
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