Charity Registration No: 227411
NORFOLK FEDERATION OF WOMEN’S INSTITUTES ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 16 JANUARY 2023
NORFOLK FEDERATION OF WOMEN'S INSTITUTES LEGAL AND ADMINISTRATIVE INFORMATION Trusteès Mrs Margaret Collingwood Mrs Coral Batchelor Mrs Vicki Reynolds Mrs Elizabeth Barker Mrs Heather Jeary Mrs Hazel Jones Mrs Evelyn Ninham Mrs Jay Page Mrs Kim Reynolds Mrs Lesley Sanders Mrs Jane France IAppoinl8d 12 September 20221 Charlty numbèr 227411 Principal address Evelyn Suffield House 45 All Saints Green NORWICH Norfolk United Kingdom NR13LY Independent examiner Argents Accounlanls Limited 15 Palace Street NORWICH Norfolk United Kingdom NR3 1RT
NORFOLK FEDERATION OF WOMEN'S INSTITUTES CONTENTS Pagè Trustees, report Independent examiner's report Statement of finanoial activities Balance sheet Notes to the financial statements 7-20
NORFOLK FEDERATION OF WOMEN'S INSTITUTES TRUSTEES, REPORT FOR THE PERIOD ENDED 16 JANUARY 2023 The Iruslees present their annual report and finxncial statements for the Period ended 16 January 2023. The financial slalements have been prepared in accordance with the accounting poli¢ies get out in note I to the fr'n2ncial statements and comply with the charity's Igoverning documenll, the Gh8ri1ies Act 2011 and Ac¢ounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accoidance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021" leffeGlive 1 January 20191. Objectives and activities The main purposes of the Women's Institute or9anisation are lo advance the education of women and girls for th& public benefit in all areas including (without limilationl local, nation81 and international issues of political and sooial importance,. music, drama and other cultural subjects,. and all branches of agriculture. crafts, home economi, science, health and social welfare. To promote susl¥inable deve1opmtrnt lor the public benefit by educating people in the preservation, consetvation and protection of the environment and the prudent use ol natural resources,. and promoting sustainable means of achieving economic growth and regeneration. To advance health for the public benefit., and to advance Citizenship for the public benefit by the promotion ol civic responsibility and volunteering. The Women's Institute organisalion seeks lo give women the opportunity of working together through the Women's Institute organisalion in their communities, ol developing their capacity and skills, and ol putting into pracliee those ideals for which the Women's Inslitute org8nisation stands. The Federation is composed of Norfolk Women's Institutes who ele¢t the Federation B08rd of Trustees. Activities in which Tnembers can participate 8r¢ organised by the Federation in lirie with the movement's objective. The trustees have paid due regard lo guidance issued by the Charity Commission in deciding what activities the Charity should undertake. Achievemènts and performance We were delighted that the Federation was able lo relum lo a busy schedule of events, following the difficult few years that we all had experienced. Amongst Ihe highlights were the Craft Day, Literary Lunch and the Ihree-day trip lo Blenheim, held in lat¢ 2021. The social element of the organisation is just as important as the educational benefits the two go hand in hand. The fact thal we had been unable lo meet properly lor such a long time doubtless had a detrimental affect on members, so we were extremely pleased lo be able lo hold the Federation Annual Meeting at the Theatre Royal in Norwich, teke two coaches to the National Annual Meeting in Liverpool and hold four Autumn Federation Meetings around the county. It was encouraging lo see that members were keen and enthusiastic lo support not only the Federation, bul also their own Wl meetings and activities. Sub-cornmiltees resurlled meetings in Evelyn Suffield House, planning and organising events. They continued lo work extremely hard on behalf of the Federation and we thank them for their commitrnent. As with other voluntary organisations, the Federation needs more volunteers lo fill vacancies on these committees. We therefore launched an appeal at both the Federalion Annu81 and Autumn Federation Meetings lor members to come forward.
NORFOLK FEDERATION OF WOMEN'S INSTITUTES TRUSTEES, REPORT (CONTINUED) FOR THE PERIOD ENDED 16 JANUARY 2023 The Queen's death in September was a momentous event in all our livé%. We were honoured that Her Majesty was a Norfolk mernber and we fell her loss keenly. A n)ajor exhibition celebrating the Fedèration was due to be held at the time of her death, bul out of respect was postponed until 2023. We opened a Book of Condolence al Evelyn Suffield House and sent Wls copy pages, enabling those members ur)able lo travel lo sign,. these will be incorporated into the Book of Condolence. We also prodLJced a commemorative edition of the Norfolk Wl News magazine. Both will form an important part ol our archive for future generations. As Chairman I was privileged lo be invited lo allend Her Majesty's funer81, lo represent the Federation. The most important decision since our formation was that the Federation should become a Charitable Incorporated Organisalioll, lo safeguard Trustees. Members were kept abreast of the decision and progress, culminating in a vote zl the 2022 Federation Annual Meeting lo become Incorporated,. this was unanimously passed. Registration with the Charity Commission was eventually completed on 161h January 2023 and the "old., Unincorporated F&deration was closed. The Federation's financial year end was extended lo that dale, allowing for the presentation ol one set of Final Accounts. At the end of the previous year we were concerned that the pandemic would Cause us lo lose Wls and members. Luckily the situation has nc>t been as serious as feared, although il must be acknowledged that membership h85 decreased. The Trustees would like to a¢knowledge and thank the Staff for their hard work over the pzsl 15 months. The smooth running of the Fedei81ion owes much to their dedication lo the Federation and its members. The Board of Trustees, six Sub-committees, three members of staff and 38 Federation volunteers who make up the Norfolk Federation will continue lo work on behalf of all our members and look forward lo the calendar of events planned for the coming year. Financial review The attached slalernenls show the current slate of the finances which the Committee oonsider to be sound. We are most grateful to individual Wls and their members who have made donations of both their lime and of a financial nature towards our work. Reserves Pollcy The Board ol Trustees regularly reviews Ihe reserves of the Federation. Sufficient funds are maintained lo ensure that the Federation could continue in the event of a significant reduction in income, and to cover the possibility of extensive works being required lo the Federation's office, a Grade 11 listed building. As a general guide the Board of Trustees aim lo maintain approximately six months, worth of income at any lime in bank deposits. structurei governance and management The Federation was established in 1919 and is governed by the Conslilulion and Rules for Federations of Women's Institutes adopted at the National General Meeting in June 2013. The trustees who served during the Period and up to the dale of signature of the financial statements were.. Mrs Margaret Collingwood Mrs Coral Balchelor Mrs Carol Makins Mrs Vicki Reynolds Mrs Elizabelh Barker Mrs Heather Jeary Mrs Hazel Jones Mrs Evelyn Ninham Mrs Jay Page fvlrs Kim Reynolds Mrs Lesley Sanders Mrs Jane Fran (Resigned 12 Sèpletnber 20221 IAppoinled 12 September 20221
NORFOLK FEDERATION OF WOMEN'S INSTITUTES TRUSTEES, REPORT (CONTINUED) FOR THE PERIOD ENDED 16 JANUARY 2023 Board of Trustees members are elected every two years with the Officers being elected from the membérship of the ¢ommillee annually. The Annu81 Meeting is held in March. The Board of Trustees is responsible for the implemen18tion of the organisalion's aims and objectives and poliGies. The Federation is a memb&r of the National Federation of Women's Inslilules, 104 New King's Road, London. Risk management The Board of Trustees have a duty to identify and r8view the risks lo which the charity is exposed and lo ensure appropriate ¢ontmls are in place to provide reasonable assurance against fraud and error. There is a formal annual risk assessment undertaken by the Board and as a result changes to procedures are made as appropriate. In the opinion of the Board of Trustees the system established miligales risks lo 8n acceptable level. The trustees, report was approved by the Board of Trustees. Mrs Margaret Collingwood Truste& 13 March 2023
NORFOLK FEDERATION OF WOMEN'S INSTITUTES INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NORFOLK FEDERATION OF WOMEN'S INSTITUTES I report lo the trustees on my examination of the financial statements of Norfolk Federation of Women's Institutes Ilhe charilyl for the Period ended 16 January 2023. Responsibilities and basls of report As the trustees of the charity you are responsible for the preparation of the financial s181emenls in accordance with the requirements of the Charities A¢1 2011 Ilhe 2011 Act). I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Aol. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examiner's statement Your attention is drawn to the fact th81 the charily has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference lo the Accounting and Reporting by Charities.. Statement ol Recommended Practice issued on fj April 2005 which is referred to in th& exlanl regulations bul has now been withdrawn. l understand that this has been done in order for financial slalements to provide a true and lair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or alter 1 January 2015. I have completed my examinalion. l confirm that no matters have come to my alttsnlion in connection with the examination giving me cause to believe that in any materi21 respect.. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act,. or the financial slalemenls do not accord with those records., or the financial stat8menls do not comply with thè applicable requir&m$nls concerning the form and content of accounts set out in the Charities IAccounls and Reports) RegLJlation$ 2008 other than any requirement that th8 accounts give a true and fair view which is not a maller considered as part of an independent examination. I hav& no Concerns and have come across no other matters in connection with the examination to which allenlion should be drawn in this report in order lo enable a proper undèrstanding of the financial slalements to be reached. Mark Johnstone FCA Argents Accountants Limited 15 Palace Street NORWICH Norfolk NR3 1RT United Kingdom Dated.. 13 March 2023
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NORFOLK FEDERATION OF WOMEN'S INSTITUTES BALANCE SHEET ASAT16JANUARY2023 2023 2021 Notes Fixed assets Tangible assets 22,421 23,435 Current assèts Stocks Debtors Investments Cash at bank and in hand 14 2,870 1,253 70,374 154,620 2,623 12,620 79,284 149,566 16 229,117 244,083 Creditors: amounts falling due within one year 17 121,4921 120,2831 Nèt current assets 207,625 223,800 Total assets less current liabilities 230,046 247,235 Capital funds Endowment funds - eneral General endowment funds 51.028 54,187 51,028 54,187 P8rman6nl èndowment Expendable endowmènt 51,028 54,187 19 51,028 54,187 Income funds Reslricled funds Unrestricted funds Designated funds General unrestricted funds 20 3,007 3,007 21 9,100 180,941 176,011 176,011 190,041 230,046 247,235 The financial statements were approvèd by the Trustees on 13 March 2023 Mrs ViGki Reynolds Trustee
NORFOLK FEDERATION OF WOMEN'S INSTITUTES NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 16 JANUAR Y 2023 Accounting poli¢ie5 Charity information Norfolk Federation ol Women's Inslilul8s1s a unincorporated charity governed by the Constitution and Rules for Federation of Women's Institutes 1.1 Reporting period The Gharilies accounting period was extended from 31 October 2022 10 16 January 2023. This was to allow the aooounting reference date to coincided with the dale of the Charities cessation, the 16 January 2023. As a result of this extension, Ihe comparative amounts presented in the financial statements linclLJding the related nolesl are not entirely comparable. 1.2 Accounting convention The financial slalemenls 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" I'FRS 1021 and the Charilies SORP "A¢¢ounling and Reporting by Charities.. Statement of Recornmended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191. The charity is a Publi Benefit Entity as defined by FRS 102. The charity has taken advantage of the provislons in the SORP for charities not lo prepare a Slalemenl of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required lo provide a true and fair view. This departure has involved following the Statement of Recommended Practice for Charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred lo in the Regulations bul which has since been withdrawn. The fin8ncial statements are prepared in slerting, which is the lun¢tional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial slalemenls have been prepared under the historical cost convention, Imodilied tc> include the revaluation ol freehold propertie5 and to include investment properties and rtain financial inslrutnenls at lair valuel. The principal accounting policies adopted are set out below. 1.3 Going concern Al the tirne of approving the financial slalements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable lulure. Thus the Iruslees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.4 Charitable funds Unreslricled fur)ds are availablo for use at the discretion of the trustees in further8nce of their ¢harilable objectives. Restricted funds ar8 subje¢l to specific conditions by donors as lo how they May be used. The pvrposes and Ljses of the reslricl8d funds are sel out in the notes lo the financial slalemenls. Endowment funds 8re subject to specific conditions by donors that the capital must b¢ maintained by the charity. 1.5 Income Inoom8 is recognised when the charity is legally entitled to il after any performance conditions hav8 been rnel, the arllounts can be measured r8liably, and it is probable that income will be received.
NORFOLK FEDERATION OF WOMEN'S INSTITUTES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 16 JANUARY 2023 Accounting policie5 (Continuèd Cash donations are recognised on receipt. Other donations ar8 recognised once the charity has been notified of the donation, Ljnless performance conditions require deferral of the amount. Income tax recoverable in relation lo donations received under Gift Aid or deeds of covenant Is recognised at the time of the donation. Legacies are reeognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 1.6 Expendlturè Expenditure is recognised once there is 8 legal or conslruclive obligation lo transfer economic benefit lo third party, it is probable that a transfer of economi¢ benefits will be reqLJired in sélllsmenl, 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 lolal of d1cl costs and shared Costs, including support costs involved in undertaking each activity. Direct costs allribulable to a single activity are allocated directly to that activity. Shared costs which contribute lo more than one activity and support oosls which are not attributable to a single activity are apportioned between those activities on a basis tsnsislenl with the use of resources. Central staff costs are alloealod on the basis of time spent, and depreciation charges are allocated on th& portion of the asset's use. 1.7 Tangible fixed assets Tangible fixed assets are initially measured al cost and subsequently measured al cost or valuation, nel of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets l&ss their residual values over their useful lives on the following bases.. Freehold land and buildings Plant and equipment Fixtures and fittings Computers not provided 100/0 on reducing balances 10.lo on reducing balances 33°1¢ on cost The gain or loss arising on the disposal of an asset is determined as the difference betwèen the sale proceeds nd th8 carrying value of the asset, and is recogniséd In the slalemenl of financial a¢livilies. The charity owns the freehold property at 45 All Saints Green, Norwich. The board of Trustees have elected not lo revalue the property on a regular basis, The cost shown in the accounts relleols slruclural alterations arried out, al their original cost, since the building was acquired. Depreciation is not provided for on freehold property as any such figure would be immaterial in terms of the building value as a whole. 1.8 Impairment of fixed assets Al each reporting end dale, the charity reviews the carrying arnounls of its tangible assets lo determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the re¢ovei3ble amount of the asset is estimated in order lo determine the extent ol the impairment loss lif any).
NORFOLK FEDERATION OF WOMEN'S INSTITUTES NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE PERIOD ENDED 16 JANUARY 2023 Accounting policies Icontinuedl 1.9 stocks Stocks are stated al the lower of cost and tsslimated selling price less costs lo complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overhead5 that have been incurred in bringing the stocks to their present looalion and condition. Items held lor distribution at no or nominal consideration are measured the lower of replacement cost and cost. Nel realisable value is the estimated selling pri¢e less all estimated costs of completion 8nd costs to be incurred in marketing, selling and dislribulion. 1.10 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at ¢811 with banks, other short-lerm liquid investments with original maturities ol three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.11 Financial instruments The Gharily has elected lo apply Ihts provisions of Section 11 'Basic Financial In51ruments' and Section 12 'Olher Financial Instruments Issues, of FRS 102 to all of its financial inslrumenls. Financial instrLJments are recognised in the charity's balance sheet when the Gh8rily be¢omes party to the conlractU81 provisions of the instrument. Financial assets and liabilities are offset, with the net arftounls presented in the financial slalements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or lo re81ise the asset and settle the liability simultaneously. Baslc financial assets Basic financial assets, which include debtors and c8sh and bank balances, are initially measured al transaction price including transaction costs and are subsequently Gatried at amortised cost using the effective interest method unless the arrangement conslilules a financing transaction. where the transaction is measured al the present value of the future receipts discounted al a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financi81 liabililies Basic financial liabililies. including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the lulure payments disoounlsd al a market rate of interest. Financial liabilities Glassified as payable within one year are not amortised. Debt instruments are subsequently carried al amortised cost, using the effective irileresl rale method. Trade Greditors are obligations lo pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. 11 not, they are presented as non-current liabilities. Trade oredilors are recognised initially al transaction piice and subsequently measLJred at amortised cost using the effeclivg intttregl method. Derecognition of financial liabilities Financial liabilities are derecognised when the ¢harity's contractual obligations expir¢ or are discharged or cancelled. 1.12 Taxation The charity is exempt from lax on ils charitable activities.
NORFOLK FEDERATION OF WOMEN'S INSTITUTES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 16 JANUAR Y 2023 Accounting policies IContÉnuedl 1.13 Employee bÈnefit5 The cost of any unused holiday enlillement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or lo provide termination benefits. 1.14 Retirement benefits The charity operates a defined contribution pension scheme. Contributions payable lo the charity's pension scheme are charged to the Statement of Financial Activities in the period lo which they relate. Critical accounting estimates and judgements In the application of the charity's accounting policies, the trustees ars required to make judgements, eslimales and assumptions about thè carrying amount of assets and liabilities that are not readily appartsnl from other sources. The estimates and associated assumptions are based on historical experience and other faolors that are considered to bè r8l&v8nl. Actual results rnay differ from these eslimales. The estimates and undertying assumptions are reviaw$d on 8n ongoing basis. Revisions lo accoLJnting estimates are re¢ognlsed in the period in which the estimate is revised where the revision affects only that period, or In the period of the revision and future periods where the revision affècts both current and future periods, Donations and lagacles Unrestricted Unrestricted funds funds 2023 2021 Donations and gifts Legacies receivable Grants 964 132 5.500 4,398 383 28,057 6,596 32,838 Grants receivable for core activities Covid-19 Business Grant 5,500 28.057 5,500 28,057 10
NORFOLK FEDERATION OF WOMEN'S INSTITUTES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 16 JANUARY 2023 Charitable actlvltlès Core activities Total Core actideS 2023 2021 Total 2021 2023 Membership fees Norfolk Wl News Subcommittee events Federalion meetings income Event support fee Yearbooks 38,165 2,639 31,968 7,010 4,390 3,328 38,165 2,639 31,968 7,010 4,390 3,328 36,978 2,833 5,585 36,978 2,833 5,585 1,654 2,447 1,654 2,447 87,500 87,500 49,497 49,497 other trading activities Unrestricted Unrestricted fund5 funds 2023 2021 Spscial events Sale of publications. stationery and goods 500 Club Miscellaneous 2,072 6,886 870 1,870 697 4,184 1,036 365 Other trading activities 11,698 6,282 Investments Unrestricted Endowment funds fund5 general 2023 Total Unreslricl8d Endowment funds funds general 2021 Total 2023 2023 2021 2021 Dividend In¢ome In18rest receivable 1,896 254 1,896 3,792 254 1.665 152 1,665 3,330 152 2,150 1,896 4,046 1,817 1,665 3,482
NORFOLK FEDERATION OF WOMEN'S INSTITUTES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 16 JANUARY 2023 Ralslng funds Unrestricted Unreslrioled funds funds 2023 2021 Fundraisin 500 Club Support costs and ublicit 375 4,456 520 3.507 Fundraising and publicity 4,831 4,027 Tradin costs PubliGations, sl8lionery and goods Support costs 5,312 22,282 4.463 17.541 Trading costs 27,594 22,004 32,425 26,031 Charitable activities Core activities Core activities 2023 2021 SLJb-commillee event expenses Committee meetino expenses Bursaries Yearbooks 21,064 906 600 736 3,420 72 730 23,306 4,222 Share of support costs (see note 91 Sharè of governance costs Is88 note 91 60,533 1,855 47,560 1,555 85,694 53,337 Analysis by fund Unrestricted funds Endowment funds - general 85,094 600 53,337 85,694 53,337 12
NORFOLK FEDERATION OF WOMEN'S INSTITUTES NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE PERIOD ENDED 16 JANUAR Y2023 Support costs Support Governance costs costs 2023 Support Governance costs costs 2021 Staff ¢osls Deprecialion Rates and water Insurance Light and heal Telèphone House ¢osts Office expenditure and postage National AGM Federation committee Federation meetings costs Sundry 55,982 1,569 1,498 2,025 3,097 2,323 5,443 55,982 1,569 1,498 2,025 3,097 2,323 5,443 46,843 1,122 311 1,563 1,513 1,746 2,347 46,843 1,122 311 1,563 1,513 1,746 2,347 10,832 12,9361 1,432 10,832 12,9361 1,432 6,813 3,562 187 6,813 3,562 187 5,166 45 5,166 45 192 1,744 192 1.744 Accovnlancy 2,650 2,650 2,220 2,220 86,476 2,650 89,126 67,943 2,220 70,163 Analysed between Fundraising Trading Charitabl¢ activities 4,324 21,619 60,533 132 663 1,855 4,456 22,282 62,388 3,397 16,986 47,560 110 555 1,555 3,507 17,541 49,115 86,476 2,650 89,126 67,943 2,220 70,163 SLJPPOrt ¢osts were apportioned as follows,. Fundraising activity Trading aGtivity Ghaiitsble activity 25°/. 70°/. 10 Trustees None of the trustees lor any persons conneoled with them) receiv8d any r8muneralion or benefits from the charity during the Period. During the period 9 trustees 12021.. 21 were reimbursed for Iravelling and out of pocket expenses lolallillg £3,1541202fj'. £4571
NORFOLK FEDERATION OF WOMEN'S INSTITUTES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 16 JANUARY 2023 11 Employees The average monthly number of employees during the Period was.. 2023 Number 2021 Number Full time Part lime Total Employment costs 2023 2021 Wages and salaries other pension costs 52,920 3,062 44,087 2,756 55,982 46,843 There were no employees whose annual remuneration was more than £60,000. 12 N&t gainslllossesl on investments Unrestricted Endowment funds funds general 2023 Total Unrestricted Endowment funds funds general 2021 Total 2023 2023 2021 2021 Revaluation of investments 14,4551 14,4551 18,910) 7,579 7,579 15,158 14-
NORFOLK FEDERATION OF WOMEN'S INSTITUTES NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE PERIOD ENDED 16 JANUARY 2023 13 Tangible fixed assèts Freehold land and bulldlngs Plant and Fixtures and equipment Computer8 Total Cosl At 1 November 2021 13,088 4,612 29,459 8,444 55,603 Al 16 January 2023 13,088 4,612 29,459 8,444 55,603 Deprèclatlon and impairment At 1 November 2021 Depreciation charged in the Period 3,279 111 20,445 903 8,444 32,168 1,014 At 16 January 2023 3,390 21,348 8,444 33,182 Carrying amount At 16 January 2023 13,088 1,222 8,111 22,421 At 31 October 2021 13,088 1,333 9,014 23,435 14 Stocks 2023 2021 Finished gc>ods and goods for resale 2,870 2,623 15 Debtors 2023 2021 Amounts falllng due within one year- Trade debtors Prepayments 8nd accrued income 223 1,030 337 12,283 1,253 12,620 16 Current asset investments 2023 2021 Charibond investments 70,374 79,284
NORFOLK FEDERATION OF WOMEN'S INSTITUTES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE PERIOD ENDED 16 JANUARY 2023 17 Creditors: amounts falling due within one year 2023 2021 Payments re¢eived in advance Amounts held for Wls Other creditors Accruals 5,492 13,860 140 2,000 12,576 5,817 140 1.750 21.492 20,283 18 Retirement benefit seheme5 Defined contribution schemes The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. The charge lo profit or loss in respect of defined contribution s¢hemes was £3,06212021 £2,756). 16
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NORFOLK FEDERATION OF WOMEN'S INSTITUTES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 16 JANUARY 2023 20 Restricted funds The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes.. Movèmènt in funds Incoming resources Movement in funds Incoming resources Balance at l November 2020 Balanco at 1 November 2021 Balance at 16 January 2023 Norfolk Room Fund Denman Agnes Salter Fund 2,490 517 2,490 517 2,490 517 3,007 3,007 3,007 Restricted fund purpose and restrictions.. Norfolk Room Fund '. Funds raised for the support of the Norfolk rooms al Denman College, when il was open, and to supply bursaries. Denrllan Agnes Salter Fund ., Funds were used to covor any loss making future events al Denman Colleg8 when il was open. At the present time the National Association's soli¢itors and the Charity Commission are in dialogue regarding how lo manage these funds following the closure of Denman College. 21 D8slgnated funds The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the Iruslees for specific purposes.. Movement In funds Incoming resources Balance at 1 Novèmber 2020 Balance at 1 Novemljer 2021 Transfers Balance at 16 January 2023 Designated funds 9,100 9,100 19,1001 9,100 9,100 19,1001 Designated fund purpose and rèstrictions- Designated fund .. Unrestricted funds that trustees have earmarked lo potentially be spent on certain projects in the current or forthcoming year, in¢luding the Federation becoming a CIO.
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NORFOLK FEDERATION OF WOMEN'S INSTITUTES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 16 JANUARY2023 23 Rèlatèd party transactions There were no disclosable related party transactions during the Period12021 none). 20-