## **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
1
## **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:
- (1) which gives me reasonable cause to believe that, in material respect, the requirements:
- to keep accounting records in accordance with section 130 of the 2011 Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or
- (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
2
## **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**
0
3
## **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**|
|---|---|---|
4
## **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 )
5
## **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**|
|---|---|
## **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
6