Clwyd Flint Federation of Women`s Institutes
Financial Statements
31 December 2023
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 ended 31 December 2023
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
During 2023 WIs were fully back to normal after Covid 19 and arranging interesting meetings. The Board of Trustees held their monthly Board Meetings in the office in Mold. The 2023 NFWI Annual Meeting held in Cardiff was a hybrid meeting. Members from Clwyd Flint attended in person and virtually.
The annual Denbigh and Flint Agricultural Show took place as usual in August 2023. Members excelled themselves with many entries for the various classes, resulting in Clwyd-Flint regaining the Show Cup.
Celia Rogers continued to act as Federation Administrator until the appointment of a new Federation secretary, Katrina Parry, in June 2023. Katrina is also Secretary of Clwyd Denbigh Federation. Clwyd Flint celebrated its 90th Anniversary with an Afternoon Tea in November, which was very well attended.
Finances
The Annual Financial Statement for 2022 was presented to the Members at the Council Meeting in May 2023 and was approved.
There was a brief problem with some Wi`s sending their Subscriptions in late but this has now been addressed.
Trustees
Following the Annual Meeting of the Board of Trustees in March 2023, Celia Rogers stood down as Federation Chairman, and Christine Rendall and Helen Marsh were elected as Joint Chairmen. Janet Henshaw was re-elected as Federation Treasurer.
Linda Rees-Owen was confirmed as a Board Member and Trustee. Laraine Blythyn joined Celia Rogers, Anne Sanderson, and Julia Clay as the remaining Board Members. Later in the year Linda Rees-Owen accepted the position of Safeguarding Officer.
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 are still established. The risk assessments set up to comply with the Covid-19 regulations are currently not being enforced but remain in place to be reactivated if necessary.
Signed by order of the Board of Trustees
Christine Rendall Joint chairman
Helen Marsh Joint chairman
28 March 2024
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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 2023 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:
- 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.
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AC Accountants
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29-Feb-24
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Clwyd- Flint Federation of Women`s Institutes
Balance Sheet
31 December 2023
| Fixed Assets Tangible Assets Investments Current Assets Stock held for resale Rent deposit Virgin deposit account Cash in bank and in hand Current Liabilities Creditors and accruals Trelawnydd WI Net Current Assets TOTAL ASSETS LESS CURRENT LIABILITIES £ CHARITY`S FUNDS Unrestricted funds General fund Unrealised gains/losses on investments TOTAL FUNDS |
31.12.23 £ 767 51736 52503 0 0 26099 10943 37042 396 0 396 36646 89149 89149 0 89149 |
31.12.22 £ 333 50000 50333 0 288 6099 28052 34439 375 0 375 34064 84397 58121 26276 84397 |
|---|---|---|
These financial statements were approved by Board of Trustees on 28th March 2024
Signed on behalf of the Board of Trustees 28th March 2024
Christine Rendall Janet Henshaw Chairman Treasurer Helen Marsh Chairman
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Clwyd- Flint Federation of Women`s Institutes
Profit and Loss account
Year ended 31 December 2023
| Unrestricted Income & Expenditure Subscriptions NFWI Subscriptions CFWI AGM supplement Denman appeal Shows & days out Fundraising Fashion show Council meetings 500 club Pooling of Fares Newsletters,diaries Donations Insurance Stock adjustment Sundry Trelawnydd loan written off Tree fund Office Overhead Secretary`s salary Trustees travel expenses Rent Service charge Telephone & Broadband Postage and Stationery Computer costs Zoom Removal costs Accounting and Bookkeeping Depreciation Profit sale of assets Profit / (loss) on normal activities Losses/Gains on investments Interest received Profit / (loss) for the year |
TOTAL 2023 Incoming Outgoing Net £ 10570 10478 92 8462 8462 325 325 80 -80 3604 3635 -31 118 118 1000 1000 644 1122 -478 1160 630 530 496 32 464 223 151 72 44 14 30 957 978 -21 0 28 -28 0 0 0 27603 17148 10455 716 1157 3905 377 209 820 255 7439 3016 1736 4752 |
TOTAL 2022 Net £ -24 8525 0 30 -13 -104 0 52 580 216 1 -23 -35 -3500 -101 485 -111 0 5978 481 7517 404 267 720 720 111 -305 9915 -3937 -1917 37 -5817 |
|---|---|---|
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Clwyd- Flint Federation of Women`s Institutes
NOTES TO THE FINANCIAL STATEMENTS
Year ended 31 December 2023
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 recognition Income is recognised in the Statement of Financial Activities when the charity becomes entitled to the resources, and 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 had one employee during the year
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Clwyd- Flint Federation of Women`s Institutes
NOTES TO THE FINANCIAL STATEMENTS (continued) Year ended 31 December 2023
| 2. Tangible Fixed Assets Cost 1st January 2023 Sales Additions 31st December 2023 Depreciation 1st January 2023 Sales Charge for year 31st December 2023 Net Book Value 31st December 2023 31st December 2022 3. Investments Fair market value At 1st January 2023 Cambridge fixed rate bond Interest 2023 At 31 Dec 2023 |
Computer equipment Office Furniture Total 3436 290 3726 0 689 689 4125 290 4415 3320 73 3393 0 201 54 255 3521 127 3648 604 163 767 116 217 333 |
£ 50000 1736 51736 |
|---|---|---|
4. Funds
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Unrealised
gains/losses
General on
fund investments Total
£ £ £
At 1st January 2023 58121 26276 84397
Net incoming resources 4752 4752
Gains & Losses on investments 0
Transfer between funds 26276 -26276 0
0
At 31 December 2023 89149 0 89149
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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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