## **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 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 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: **----- Start of picture text -----**
(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.
**----- End of picture text -----**
## **AC Accountants** **----- Start of picture text -----**
29-Feb-24
**----- End of picture text -----**
2 ## **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** 3 ## **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**| |---|---|---| 4 ## **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 5 ## **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** **----- Start of picture text -----**
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
**----- End of picture text -----**
## **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