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2021-11-30-accounts

Charity number 228057

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

U N A U D I T E D T R U S T E E S ' R E P O R T & A N N U A L S T A T E M E N T F O R T H E Y E A R E N D E D 3 0 N O V E M B E R 2 0 2 1

Charity number: 228057

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2021

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

CONTENTS

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 10
Independent examiner's report 11
Statement of financial activities 12
Balance sheet 13
Notes to the financial statements 14 - 34

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 NOVEMBER 2021

Trustees Jennifer Burton
Joycelyn Cull
Kim Edwards
Lynn Foster
Carole Green
Hilary Haworth
Margaret Kaye
Jacqueline King (resigned 3 February 2021)
Linda Nicholls
Sue Paxton (co-opted 6 May 2021)
Pat Poole(resigned 26 May2021)
Thelma Sackman
Jenny Street
Charity registered
number
228057
Principal office
Stuart Lodge
Stuart Road
High Wycombe
Buckinghamshire
HP13 6AG
Federation Secretary
Sara Galloway
Governing instrument
Constitution and Rules for County Federation of Women's Institutes
Independent examiner
B.K. Silva MHA MacIntyre Hudson
Chartered Accountants
Building 4, Foundation Park
Roxborough Way
Maidenhead
SL6 3UD
Bankers
Lloyds Bank plc
27 - 31 White Hart Street
High Wycombe
Buckinghamshire
HP11 2HL

Page 1

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

TRUSTEES' REPORT FOR THE YEAR ENDED 30 NOVEMBER 2021

The Trustees present their report and the financial statements of the charity for the year ended 30 November 2021. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP (FRS 102)) and the Charities Act 2011.

Objectives and activities

Policies and objectives

The main purposes of the Women’s Institute organisation are:

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

Strategies for achieving objectives

The organisation will open new Institutes wherever possible and a dedicated committee will undertake this activity. These objectives are pursued through an Action Plan which is regularly monitored and reviewed each year by the Trustees.

Page 2

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

Objectives and activities (continued)

Activities for achieving objectives

The Board of Trustees met via telepresence twelve times in the year, electing its Officers in May 2021.

The year began with a Sub-Committee structure of six, namely: Communications, Creative Crafts, Leisure and Lifestyle, Member Support, Science and Society and Speakers who covered all the Federation activities. From June 2021 it was decided to merge Creative Crafts with Leisure and Lifestyle and rebrand as Leisure and Crafts. A Finance and Risk Group was also established. The Centenary+ One group was tasked with producing, when possible, events to celebrate the centenary postponed due to the Covid19 pandemic. A very successful Garden Party at Waddesdon Manor took place in August 2021, at which Countess Howe, Lord Lieutenant for Buckinghamshire, was the honoured Guest. All activities were outdoors and over 500 members attended from 68 WIs. A Parade of Banners was held in Aylesbury on 16th September (WI Day) attended by 33 WIs. At this event BFWI Promotional Materials were handed out by volunteers from Aylesbury Town WI.

It was decided in November 2020 to move forward with the relocation of the Charity’s office from High Wycombe to Aylesbury; a specialist team from the trustees was set up to manage the project. A project plan and budget was produced, periodic Board review points were set and adhered to, and competitive tendering processes are used for the engagement of professional advice and services. A sale has been agreed for the High Wycombe property and a purchase agreed for an Aylesbury property subject to planning consents.

It was agreed to postpone the move from an unincorporated charity to a Charitable Incorporated Organisation (CIO).

Due to the pandemic, and having adopted the required Constitutional changes, the BFWI Annual Council Meeting was held as a ‘hybrid’ meeting in May using the virtual event platform, HopIn. Although this involved a great deal of work for staff and volunteers, it was highly successful and showed that even in difficult times the Federation will always go the extra mile to provide the very best experience it can for its members. Members were able to attend an event which provided for constitutional reporting and voting and also gave access to virtual booth presentations from Sub-Committees, Federation representatives and external partners and sponsors. The speakers were Jay Blades (BBC’s Repair Shop), NFWI Chair Lynne Stubbings, and Lord Lieutenant of Buckinghamshire, Countess Howe. Other outside contributors were Rebecca Hayward, Governor of HM Prison Grendon and Springhill, and Kath Vale, Head of Communications and Fundraising, Dementia Adventure. The Centenary raffle was also drawn at the Annual Council Meeting and Awards and Certificates were presented.

In June, the Federation was represented at the NFWI Annual Meeting, also a hybrid meeting, originally scheduled to take place at The Royal Albert Hall. During the course of the year the Federation Chairman and two trustees attended Inter-Federation meetings, and the Federation Chair and Assistant Treasurer acted as delegates at Autumn National Council meetings in September and October, all via telepresence.

Events usually attended, including The Bucks County Show, were cancelled but members were given the opportunity to showcase some of their skills via Virtual Shows.

An Equality, Diversity and Inclusion (EDI) panel was created to further the federation's goal of being more inclusive for, and representative of, all women. As well as communicating the relevant policies, the group arranges educational online talks for members, including "Conscious Inclusion" in July. The Panel met five times during the year. The federation continues to engage in reflective practice on the issues of inequality and inclusion.

BFWI’s Resilience Team was very active during the year providing Bereavement Bags sewn by members for local hospitals and leading on helping members provide support for the Afghan Nationals Crisis.

Page 3

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

Objectives and activities (continued)

It was decided to continue to produce the Newsletter at HQ and provide it digitally to members each month. It is free and the cost of in house production is borne from Federation funds. There is the opportunity for each member to sign up to receive it directly to their personal email. A .pdf copy continues to be sent to every WI Secretary which can be circulated to their members either digitally or as a hard copy.

The Trustees held an Open Strategy Meeting in the autumn, inviting input from members of sub committees and staff to inform the long term strategy of the Federation. The Trustees then met to create the final Strategy Plan based on the National Vision Statements which will be reviewed bi – monthly at meetings of the Board.

In December 2020 the Trustees held free Virtual Coffee mornings to connect with WIs. During the year Trustees have contacted each WI President by telephone in order to keep up to date with members and their concerns.

Due to the postponement of most live events through the year some shopping days were held, with due Covid19 provisions in place, to enable members to purchase Centenary goods.

In October 2021, Trustees and Sub-Committee members took part in a workshop on Building Resilience in Uncertain Times as part of volunteer training and personal development.

The Federation was delighted to form its first Virtual WI, Swan Sisters, in October 2021. At the close of the year, there was a total of 3,721 members in 107 WIs across Buckinghamshire and Milton Keynes.

The federation Climate Ambassadors have continued to publicise the Climate emergency and to educate WI members in mitigating the dangers. In January and February, online presentations were made to several WIs, and the Ambassadors joined an online session organised by Essex Federation Climate Action Group.

In April, BFWI responded to a consultation on Buckinghamshire Council’s proposed biodiversity net zero strategy.

The Climate Ambassadors hosted an interactive online session at the Annual Council Meeting in May, and in August contributed to the NFWI Climate Ambassador planning for the Great Big Green Week 2021 and the launch of the WI Campaigns for COP26 “The Whole Story” and “No More Loopholes”.

Ambassadors have participated in the Buckinghamshire Climate Action Alliance monthly online meetings, encouraging them to move forward swiftly on their climate strategy commitments. In Milton Keynes specifically, a Climate Ambassador has attended Transition Town seminars and exhibitions on sustainable heating and ‘green’ living, following this Council’s declaration of a climate emergency.

The celebrity scarecrow Greta was made for the Centenary+1 Garden Party at Waddesdon Manor and has since been seen at other climate events. The Ambassadors have been regular contributors to the federation blog and to Bucks News, raising awareness about climate issues. The focus of these has been the Climate Coalition’s “Show the Love” campaign in February, the “Great Big Green Week” in October, as well as COP26 and the environmental and climate aims of Bucks Community Boards in November. Ambassadors also contributed to the Climate Scrapbook which NFWI took to COP26.

On the Global Day of Action in November the Ambassadors joined a climate protest in Thame and the Oxford Climate March, carrying the Climate Scarf showing the increasing global temperatures over the last 100 years, and posters from the “The Whole Story” campaign about the effect of climate change on the lives of women and girls. The final event of the year was to showcase the federation’s work at a Climate Action Day in Amersham organised by the Town Council.

Page 4

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

Objectives and activities (continued)

The Communications Sub-Committee assisted Trustees and Federation working groups on matters of external and internal communication, including print and digital media, TV and radio, newsletters and email, and event programmes. It has covered the role of Press Officer as that post remained vacant.

In February this Committee provided training on the use of technology for planning and promoting events (Tech Tools for Events) to every Sub-Committee with supporting documentation then emailed directly to every attendee for reference. In July they delivered Social Media training for WIs as part of a Member Support Training Event.

The Communications team continues to manage the website and social media platforms, which are reviewed regularly to ensure they meet members’ needs. It liaised with the Honorary Archivist on issues of data and records management.

This Sub-Committee also continued to support WIs and their members in the use of video conferencing software and was the driving force behind the ground breaking and highly successful hybrid Annual Council Meeting via the HopIn platform. The team assisted Sub-Committees, and other federation representatives in producing lively and engaging video presentations for a virtual Memorial Book, the centenary Pennants and the Table Panel videos among others. The Sub Committee input to this was then placed onto the website as an ongoing item of information for members.

The small team of 12 Independent Financial Examiners (IFEs) has examined full year accounts for 64 WIs in addition to those WIs suspended at the end of 2020. The team also continues to offer support and advice to WIs on request via the “IFE on Duty” Scheme in Buckinghamshire News.

The Leisure and Crafts (until May 2021, Leisure & Lifestyle) Sub-Committee has nine members and has met seven times during the year, in a combination of in-person and virtual meetings.

While a celebration event in December 2020 and Inter-Federation quiz rounds in March had to be cancelled due to continuing Covid-19 restrictions, the Committee was able to hold a very successful International Event about Thailand across three days in April, covering its Silk and Stitches, Art and Culture, and a Thai cookery demonstration.

The Dance Evening in October was cancelled (without loss) as members continued to be wary of mixing in large groups indoors whilst Covid-19 numbers were still high.

In a repeat of the '100 miles for 100 years' challenge from 2020, individual members and WI groups were challenged to walk '100 Miles More' by 31st October 2021. Also in October, nine institutes took part in the Jigsaw Challenge.

The Member Support Committee met six times during the year. In late 2020, constitutional changes required Annual Meeting procedures to be substantially rewritten. While workload and time spent in meetings increased significantly, relationships between Advisers and their WIs were greatly strengthened.

Unfortunately, several WIs suspended in March 2021 and two Advisers resigned; it has not yet been possible to recruit trainee Advisers.

WI Advisers have continued to plan and deliver workshops (”virtual cuppas”) to help WIs to cope with new initiatives and legislation – Officers Training, Flexible Subscriptions, Getting Together and Moving Forward, Treasurers Workshop. These sessions have continued to attract a large number of WIs and in most cases more than would ever have attended in-person events. The Digital Team Leader always makes a valuable contribution to these events and so has the Communications team.

Page 5

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

Objectives and activities (continued)

WI Advisers have been working closely with their WIs throughout, resulting in positive relationships developing further. WIs appreciate the more personal touch and respond more quickly. Help continues to be available throughout the year via the “WI Adviser on Duty” service.

Promotional and recruitment material has been updated to include A3 posters, A4 editable posters and postcards.

The WI Advisers have consistently reviewed and updated procedures and policies associated with running a WI in line with the WI Constitution and new National Guidelines, and have benefited from the ‘Adviser Engagement’ sessions offered by NFWI.

The Committee has completed the Member Support Strategy plan, setting objectives for the next five years, primarily forming new WIs including Swan Sisters Virtual WI.

The Science and Society Sub-Committee adapted all its activities to minimize the spread of Covid-19. Tasked with promoting mandates, science, and societal issues, efforts were concentrated on Zoom events, online articles and blogs, and pieces in the Buckinghamshire News. Visits, unfortunately, were not possible.

The campaigning mandates concentrated on were: Link Together to Alleviate Loneliness; Make A Match (stem cell register schemes); End Plastic Soup (microfibre pollution); Get on Board (bus services); Climate Change and Stop Modern Slavery. Each was covered by on-line talks or in video presentations and the Annual Council Meeting. Following the adoption of the resolution ‘A call to increase awareness of the subtle signs of ovarian cancer’ at the NFWI Annual Meeting in June, the ovarian cancer mandate was publicised at the Centenary + One Garden Party event at Waddesdon Manor.

The annual Science day became a three day online event, “Investigation and Discovery” webinars, where members heard talks on undersea volcanoes, plants and fossils and renewable energy from Professor Chris Jackson, of Imperial College London, Jane Tubb and Jo de Montgros.

A series of “Insight” talks on current social Issues was also arranged: topics were Energy From Waste at Greatmoor, Arranged Marriages in Oman, Modern Day Slavery, Turtles in Costa Rica and Animal-Computer Interaction.

The Speakers Sub-Committee have auditioned for prospective speakers online throughout the year. These auditions have attracted many members, reduced the number of speakers on the waiting list, and greatly extended the list of speakers during this time. The Sub-Committee has contributed articles to the Buckinghamshire Newsletter, updating WI members about the group’s work, and spotlighting new additions to the listing.

A regular featured Speaker has been added to the federation’s webpage as well as downloadable lists of new speakers and the speaker report form, and a lively video presentation was aired in a virtual booth at the May Annual Council Meeting.

Page 6

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

Objectives and activities (continued)

Public benefit

The Trustees confirm that they have complied with the duty in the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit.

The Trustees confirm that there are no serious incidents or other matters which they should have brought to the attention of the Charity Commission.

Achievements and performance

Investment policy and performance

Investments are made in the Charities Official Investment Fund and in National Savings with the authority of the Trustees.

Financial Review

The balance sheet shows total reserves of £400,905(2020: £414,492) which represents the accumulated assets and liabilities of the federation. £54,703 (2020: £46,924) relates to restricted funds and £21,251 (2020: £22,421) is represented by fixed assets leaving £324,951 (2020: £345,147) of free reserves. This represents approximately 24 months' total resources expended. These reserves ensure that provision is in place for the maintenance of the freehold property, Stuart Lodge, and that a satisfactory contingency fund is available to cope with unexpected administrative eventualities. An annual budget is prepared. Principal funding sources are member’s annual subscriptions and fundraising activities.

There is an overall deficit of £13,587 (2020: £6,287 deficit) comprising a deficit on general unrestricted funds of £21,367, and a surplus on restricted funds of £7,780. Income decreased in the year by 14% and costs decreased by 6% compared with the previous year.

In accordance with current legislation the Federation has a pension scheme with NEST.

Designated funds of £Nil (2020: £7,524) are held within a Disabled toilet fund, Dip for Denman and the 2020 fund.

Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

Page 7

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

Reserves policy

The Trustees consider that a minimum of 12 months’ total resources expended should be held in reserve.

Unexpected administrative eventualities are a real possibility whilst running the Federation with a minimum staffing level of two full-time or equivalent employees. Volunteer help is used to cope with a variable workload but should not be relied upon indefinitely.

The Federation owns Stuart Lodge which has a small car park and garden and is situated in a Conservation Area. The fabric of the building needs to be refurbished in order to maintain the value of the property. It is in constant need of repair. The Trustees consider that adequate resources are needed to ensure that the environment is always a safe and pleasant place for the staff to work in. Paid help is needed to maintain Stuart Lodge as in-house resources are rarely suitable or available.

All events run by the Federation are intended to be self-financing or to raise funds for the benefit of BFWI. The Federation does not employ professional fundraisers so making a loss is always a possibility and must be accommodated within its finances.

The Federation relies heavily on the goodwill and enthusiasm of volunteers to raise funds. This results in fat and lean years so adequate reserves are needed to cover any major shortfall.

Pandemic response

Trustees continued to monitor budget and performance while operating under government rules and legislation.

Membership numbers reduced less than forecasted. Significant cost savings were achieved, and the actual deficit was lower than forecast. As a result, the Trustees consider that the impact of the Covid-19 pandemic has not had a material effect on the financial sustainability of the charity as a going concern.

The Trustees are confident that the charity’s reserves are adequate should it be necessary to designate funds for future Covid-19 responses.

Investments are in low-risk, diverse managed funds and government bonds. The Trustees consider these to be appropriate for the foreseeable future, but continue to review investments and assets held and to seek regular advice on this from fund managers.

Structure, governance and management

Constitution

The Federation is a registered charity, governed by the Constitution and Rules for County Federation of Women’s Institutes.

Page 8

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

Structure, governance and management (continued)

Trustee appointment and organisational structure

Trustees are nominated and appointed for two years by members within the 120 Women’s Institutes in the Federation, which each have one vote. Training is provided by the National Federation.

Buckinghamshire Federation of Women’s Institutes is central to a three tier organisation (National, County Federation and local) and mirrors the structure of the NFWI Board of Trustees. The Buckinghamshire Federation of Women’s Institutes Board of Trustees makes all policy decisions and considers recommendations from sub-committees on planned events.

Decisions are made democratically after discussion at the monthly Board Meetings. Specialist advice is sought if necessary.

NFWI Council Meetings and the Annual Meeting are attended by representatives from the Board of Trustees and delegates from the Women’s Institutes.

Communication is ensured through the BFWI staff at County Office, the BFWI newsletter and the website.

Risk management

The Trustees have identified the major risks to which Buckinghamshire Federation of Women’s Institutes is exposed. These risks have been reviewed and systems are in place to mitigate these risks. This review is reassessed on an on-going basis.

Page 9

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

Future developments

Buckinghamshire Federation of Women’s Institutes plans to

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees and signed on their behalf by:

Date: i 7 - S- f_ '2_.

Hilary Haworth Honorary Treasurer Date: i 7 - S- f_ '2_.

Page 10

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 NOVEMBER 2021

Independent examiner's report to the Trustees of Buckinghamshire Federation of Women's Institutes ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 30 November 2021.

Responsibilities and basis of report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Signed:

Dated:

B K Silva ACA,DChA

MHA MacIntyre Hudson, Abbey Place, 24-28 Easton Street, High Wycombe, Bucks, HP11 1NT

Page 11

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 NOVEMBER 2021

Note
Income from:
Donations and legacies
2
Charitable activities
5
Other trading activities
3
Investments
4
Total income
Expenditure on:
Raising funds
6
Charitable activities
7
Total expenditure
Net (expenditure)/income
Transfers between funds
17
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2021
£
2,414
60,459
6,910
184
69,967
10,681
83,383
94,064
(24,097)
2,730
(21,367)
367,568
(21,367)
346,201		 Restricted
funds
2021
£
10,504
-
-
6
10,510
-
-
-
10,510
(2,730)
7,780
46,924
7,780
54,704		 Total
funds
2021
£
12,918
60,459
6,910
190
80,477
10,681
83,383
94,064
(13,587)
-
(13,587)
414,492
(13,587)
400,905		 Total
funds
2020
£
3,172
82,268
4,943
3,286
93,669
6,877
93,081
99,958
(6,289)
-
(6,289)
420,781
(6,289)
414,492

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 14 to 34 form part of these financial statements.

Page 12

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

BALANCE SHEET AS AT 30 NOVEMBER 2021

2021 2021 2020 2020
Note £ £
Fixed assets
Tangible assets 12 21,251 22,421
21,251 22,421
Current assets
Stocks 13 7,746 9,428
Debtors 14 4,185 1,618
Investments 15 377,836 366,341
Cash at bank and in hand 7,122 23,369
396,889 400,756
Creditors: amounts falling due within one
year 16 (17,235) (8,685)
Net current assets 379,654 392,071
Total assets less current liabilities 400,905 414,492
Net assets excluding pension asset 400,905 414,492
Total net assets 400,905 414,492
Charity funds
Restricted funds 17 54,703 46,924
Unrestricted funds 17 346,202 367,568
Total funds 400,905 414,492
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Page 13

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts.

Buckinghamshire Federation of Women's Institutes constitutes a public benefit entity as defined by FRS 102.

1.2 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

1.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Page 14

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021

1. Accounting policies (continued)

1.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement 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 total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Charitable activities and Governance costs are costs incurred on the charity's educational operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.

1.5 Going concern

The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

1.6 Operating leases

Rentals under operating leases are charged to the Statement of Financial Activities on a straight line basis over the lease term.

1.7 Tangible fixed assets and depreciation

All assets costing more than £200 are capitalised.

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of Financial Activities.

Page 15

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021

1. Accounting policies (continued)

1.7 Tangible fixed assets and depreciation (continued)

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

1.8 Investments

Current asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading ‘Gains/(losses) on investments’ in the Statement of Financial Activities.

1.9 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs.

1.10 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

1.11 Debtors

Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.

1.12 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 16

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021

1. Accounting policies (continued)

1.13 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

1.14 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2. Income from donations and legacies

Donations
Legacies
Donations		 Unrestricted
funds
2021
£
434
1,980
2,414
Unrestricted
funds
2020
£
1,049		 Restricted
funds
2021
£
10,504
-
10,504
Restricted
funds
2020
£
2,123		 Total
funds
2021
£
10,938
1,980
12,918
Total
funds
2020
£
3,172

Page 17

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021

3. Income from other trading activities

Income from fundraising events

Bulb scheme
Bulb scheme		 Unrestricted
funds
2021
£
6,910
Unrestricted
funds
2020
£
4,943		 Total
funds
2021
£
6,910
Total
funds
2020
£
4,943

4. Investment income

Unrestricted
funds
2021
£
Investment income
184
Unrestricted
funds
2020
£
Investment income
3,147		 Restricted
funds
2021
£
6
Restricted
funds
2020
£
139		 Total
funds
2021
£
190
Total
funds
2020
£
3,286

Page 18

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021

5. Income from charitable activities

Shop
Speakers
Annual meetings BFWI/NFWI
Centenary + 1 merchandise
Board of Trustees events for members
Creative crafts, leisure and lifestyle
Science and society
Communications, archivist, resilience
Members subscriptions
Newsletters and postage
Resilience
Total 2021		 Unrestricted
funds
2021
£
4,302
7,723
2,507
2,485
850
744
2,205
500
39,015
128
-
60,459		 Total
funds
2021
£
4,302
7,723
2,507
2,485
850
744
2,205
500
39,015
128
-
60,459

Page 19

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021

5. Income from charitable activities (continued)

Shop
Speakers
Council meetings
N F meetings/AGM
Board of Trustees events for members
Creative crafts & Leisure and lifestyle
Science and society
Members support
Denman College
Members subscriptions
Newsletters and postage
Resilience
Total 2020		 Unrestricted
funds
2020
£
5,958
1,189
9,546
55
1,084
4,245
5,666
1,254
20
36,851
14,860
500
81,228		 Restricted
funds
2020
£
-
-
-
-
-
-
-
-
1,040
-
-
-
1,040		 Total
funds
2020
£
5,958
1,189
9,546
55
1,084
4,245
5,666
1,254
1,060
36,851
14,860
500
82,268

6. Expenditure on raising funds Fundraising trading expenses

Unrestricted
funds
2021
£
Bulb scheme
5,526
Support costs
5,155
10,681		 Total
funds
2021
£
5,526
5,155
10,681

Page 20

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021

6. Expenditure on raising funds (continued)

Fundraising trading expenses (continued)

Bulb scheme
Friends club
Support costs		 Unrestricted
funds
2020
£
3,954
(40)
2,963
6,877		 Total
funds
2020
£
3,954
(40)
2,963
6,877

7. Analysis of expenditure on charitable activities

Summary by fund type

Shop
Speakers
Annual meetings BFWI/NFWI
Centenary +1 merchandise
Board of Trustees events for members
Creative crafts, leisure and lifestyle
Science and society
Communications, archivist, resilience
Members subscriptions
Newsletters and postage
Office expenses		 Unrestricted
funds
2021
£
10,023
10,836
9,242
11,812
14,593
9,493
8,154
8,709
448
54
19
83,383		 Total
funds
2021
£
10,023
10,836
9,242
11,812
14,593
9,493
8,154
8,709
448
54
19
83,383

Page 21

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021

7. Analysis of expenditure on charitable activities (continued)

Summary by fund type (continued)

Shop
Speakers
Annual meetings BFWI/NFWI
Centenary + 1 merchandise
Board of Trustees events for members
Creative crafts, leisure and lifestyle
Science and society
Resilience and communications
Members subscriptions
Denman College
Newsletters and postage		 Unrestricted
funds
2020
£
23,565
3,303
17,229
-
3,136
6,598
6,104
3,425
6,208
75
22,848
92,491		 Restricted
funds
2020
£
-
-
-
200
-
-
-
-
390
-
-
590		 Total
funds
2020
£
23,565
3,303
17,229
200
3,136
6,598
6,104
3,425
6,598
75
22,848
93,081

Summary by expenditure type

Shop
Speakers
Annual meetings BFWI/NFWI
Centenary +1 merchandise
Board of Trustees events for members
Creative crafts, leisure and lifestyle
Science and society
Communications, archivist, resilience
Members subscriptions
Newsletters and postage
Office expenses		 Staff costs
2021
Depreciation
2021
£
£
2,496
265
4,448
115
4,448
115
4,448
115
8,734
227
4,448
115
4,448
115
4,447
116
-
-
-
-
-
-
37,917
1,183		 Other costs
2021
£
7,262
6,273
4,679
7,249
5,632
4,930
3,591
4,146
448
54
19
44,283		 Total
funds
2021
£
10,023
10,836
9,242
11,812
14,593
9,493
8,154
8,709
448
54
20
83,383

Page 22

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021

7. Analysis of expenditure on charitable activities (continued)

Summary by expenditure type (continued)

Shop
Speakers
Annual meetings BFWI/NFWI
Centenary +1 merchandise
Board of Trustees events for members
Creative crafts, leisure and lifestyle
Science and society
Communications, archivist, resilience
Members subscriptions
Denman College
Newsletters and postage		 Staff costs
2020
£
8,287
2,072
4,144
-
2,072
2,072
2,072
2,072
2,072
-
14,503
39,366		 Depreciation
2020
£
244
61
126
-
61
61
61
61
61
-
426
1,162		 Other costs
2020
£
15,034
1,170
12,959
200
1,003
4,465
3,971
1,292
4,465
75
7,919
52,553		 Total
funds
2020
£
23,565
3,303
17,229
200
3,136
6,598
6,104
3,425
6,598
75
22,848
93,081

Page 23

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021

8. Analysis of expenditure by activities

Shop & Raffle
Annual meetings BFWI/NFWI
Centenary +1 merchandise
Board of Trustees events for members
Speakers
Creative crafts, leisure and lifestyle
Science and society Communications,
archivist, resilience Members
subscriptions
Newsletters and postage
Office expenses		 Activities
undertaken
directly
2021
£
2,909
2,959
1,365
3,935
13
729
277
837
448
54
20
13,546		 Support
costs
2021
£
7,114
7,877
7,877
14,580
7,877
8,764
7,877
7,871
-
-
-
69,837		 Total
funds
2021
£
10,023
10,836
9,242
18,515
7,890
9,493
8,154
8,708
448
54
20
83,383
Shop
Speakers
Annual meetings BFWI/NFWI
Centeneay + 1 merchandise
Board of Trustees events for
members Creative crafts, leisure and
lifestyle Science and society
Communications, archivist, resilience
Members subscriptions
Denman College
Newsletters and postage		 Activities
undertaken
directly
2020
£
(268)
341
11,309
200
174
3,637
3,143
463
3,643
75
2,120
24,837		 Support
costs
2020
£
23,833
2,962
5,920
-
2,962
2,961
2,961
2,962
2,955
-
20,728
68,244		 Total
funds
2020
£
23,565
3,303
17,229
200
3,136
6,598
6,104
3,425
6,598
75
22,848
93,081

Page 24

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021

8. Analysis of expenditure by activities (continued)

Analysis of support costs

Staff costs
Depreciation
Telephone and postage
Bank charges
Cleaning of premises
Insurance
Fuel and light
Water rates
General rates
Decorating, repair and maintenance
Stationery and office expenses
Sundries
Professional fees
Governance costs		 Total
funds
2021
£
32,333
994
1,784
25
398
3,368
1,669
95
1,109
1,665
486
(93)
9,777
16,228
69,838		 Total
funds
2020
£
33,151
979
2,603
36
387
2,538
1,702
113
1,167
2,943
1,435
327
-
20,863
68,244

Page 25

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021

8. Analysis of expenditure by activities (continued)

Support costs are allocated to charitable activities on the following percentage:

Generating funds
Shop
Speakers
Board of Trustees events for members
Leisure and crafts
Centenary+1 merchandise
Science and society
Member support
Newsletters and postage
Resilience and communications
Governance
Independent examiner's remuneration
Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts		 2021
%
6
6
9
19
9
9
9
9
-
9
15
100
2021
£
2,965		 2020
%
5
5
5
10
10
-
5
5
35
5
15
100
2020
£
3,930

9. Independent examiner's remuneration

Page 26

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021

10. Staff costs

2021
£
Wages and salaries
40,270
Contribution to defined contribution pension schemes
558
40,828
The average number of persons employed by the Charity during the year was as follows:
2021
No.
Employees
3		 2020
£
40,815
623
41,438
2020
No.
3

No employee received remuneration amounting to more than £60,000 in either year.

11. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2020 - £NIL) .

During the year ended 30 November 2021, expenses totalling £ 1,616 were reimbursed or paid directly to 12 Trustees (2020 - £3,487 to 12 Trustees) .

Page 27

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021

12. Tangible fixed assets

Cost or valuation
At 1 December 2020
Additions
At 30 November 2021
Depreciation
At 1 December 2020
Charge for the year
At 30 November 2021
Net book value
At 30 November 2021
At 30 November 2020
13.
Stocks
Finished goods and goods for resale
14.
Debtors
Due within one year
Trade debtors
Other debtors
Prepayments and accrued income		 Freehold
property
£
49,800
-
49,800
28,079
996
29,075
20,725
21,721		 Office
equipment
£
19,169
89
19,258
18,574
228
18,802
456
595		 Other fixed
assets
£
140
-
140
35
35
70
70
105
2021
£
7,746
2021
£
232
3,247
706
4,185		 Other fixed
assets
£
140
-
140
35
35
70
70
105
2021
£
7,746
2021
£
232
3,247
706
4,185		 Total
£
69,109
89
69,198
46,688
1,259
47,947
21,251
22,421
2020
£
9,428
2021
£
232
3,247
706		 2020
£
225
209
1,184
4,185 1,618

Page 28

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021

15. Current asset investments

COIF Charities Deposit Account
National Savings Income Bond		 2021
£
122,615
255,221
377,836		 2020
£
111,120
255,221
366,341

16. Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
Deferred income at 1 December 2020
Resources deferred during the year
Amounts released from previous periods		 2021
£
120
1,339
5,548
10,228
17,235
2021
£
1,840
-
(1,840)
-		 2020
£
40
-
1,840
6,805
8,685
2020
£
13,908
1,840
-
15,748

Deferred income relates to income received for events and newsletters that relate to the following year.

Page 29

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021

17. Statement of funds

Unrestricted funds
Designated funds
Disabled toilet
Dip for Denman
2020 fund
General funds
General reserves
Total Unrestricted funds
Restricted funds
Denman - Bucks Room
Closed Institutes
Needy fund
Millennium fund
Memorial fund
Ripp fund
Eyre fund
Named funds
Celebration fund
Lady Legge
E M Saunders
Joyce Wilton
20-10 fund
Total of funds		 Balance at 1
December
2020
£
200
598
6,726
7,524
360,044
367,568
(10)
9,118
2,578
5,368
11,414
1,324
2,408
973
845
1,978
565
8,629
1,734
46,924
414,492		 Income
£
-
-
-
-
69,968
69,968
-
10,105
-
1
402
-
-
-
-
-
-
1
-
10,509
80,477		 Expenditure
£
-
-
-
-
(94,064)
(94,064)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(94,064)		 Transfers
in/out
£
(200)
(598)
(6,726)
(7,524)
10,254
2,730
-
(3,578)
-
-
848
-
-
-
-
-
-
-
-
(2,730)
-		 Balance at
30
November
2021
£
-
-
-
-
346,202
346,202
(10)
15,645
2,578
5,369
12,664
1,324
2,408
973
845
1,978
565
8,630
1,734
54,703
400,905

Page 30

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021

17. Statement of funds (continued) Statement of funds - prior year

Balance at
1 December 2019
£
Unrestricted funds
Designated funds
Disabled toilet
200
Dip for Denman
398
2020 fund
7,875
8,473
General reserves
365,537
Total Unrestricted funds
374,010
Restricted funds
Denman - Bucks Room
(10)
Closed Institutes
9,529
Needy fund
2,771
Millennium fund
5,351
Memorial fund
11,382
Ripp fund
1,319
Eyre fund
2,151
Named funds
970
Celebration fund
842
Lady Legge
1,971
E M Saunders
383
Joyce Wilton
8,683
20-10 fund
1,429
46,771
Total of funds
420,781		 Income
£
Expenditure
£
Transfers
in/out
£
Balance at
30 November 2020
£
-
-
-
200
200
-
-
598
-
(1,149)
-
6,726
200
(1,149)
-
7,524
90,167
(98,219)
2,559
360,044
90,367
(99,368)
2,559
367,568
-
-
-
(10)
2,148
-
(2,559)
9,118
7
(200)
-
2,578
17
-
-
5,368
32
-
-
11,414
5
-
-
1,324
257
-
-
2,408
3
-
-
973
3
-
-
845
7
-
-
1,978
182
-
-
565
336
(390)
-
8,629
305
-
-
1,734
3,302
(590)
(2,559)
46,924
93,669
(99,958)
-
414,492

Page 31

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021

17. Statement of funds (continued)

Designated Funds

Disabled toilet - This amount was set aside for a disabled toilet.

2020 Fund - To fund and support BFWI Centenary celebrations in the year 2020.

Restricted Funds

Denman (Bucks Room at Denman College) - This is an amount contributed by individual Women’s

Institutes for the refurbishment of the Bucks Room.

Closed Women’s Institutes’ fund and transfers - If an institute closes monies are deposited into this fund.

If a closed institute does not re-open within three years, the money is transferred into general funds.

Needy fund - This is an amount set aside for institutes that are in need of financial assistance.

The following restricted funds represent funds for awards only available for Women’s Institutes’ members in Buckinghamshire:

Millennium fund - This fund provides an annual bursary for any residential course at Denman College.

Memorial fund - This fund provides an annual bursary for any residential course at Denman College.

Ripp fund - This fund was set up to provide an annual bursary towards the course cost, alternating

between Art and Photography, to be taken anywhere.

Eyre fund - This fund provides an annual bursary for a Craft course.

Named funds - This consists of the Strode and Beckton funds. The first fund provides a biennial bursary for a fun music course and the second fund provides a bursary for a residential course, awarded in alternate years.

Celebration fund - This fund provides a biennial bursary for any residential course.

Lady Legge - This fund provides an annual bursary for any residential course at Denman College.

E M Saunders - This fund provides an annual bursary for any course at Denman College.

Joyce Wilton - This fund provides an annual bursary open to members of Prestwood and Prestwood Evening WIs only.

The 20-10 fund - This fund provides an annual bursary towards any two night course at Denman College.

Page 32

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021

18. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2021
£
Tangible fixed assets
21,251
Current assets
342,185
Creditors due within one year
(17,234)
Total
346,202
Analysis of net assets between funds - prior year
Unrestricted
funds
2020
£
Tangible fixed assets
22,421
Current assets
353,832
Creditors due within one year
(8,685)
Total
367,568		 Restricted
funds
2021
£
-
54,703
-
54,703
Restricted
funds
2020
£
-
46,924
-
46,924		 Total
funds
2021
£
21,251
396,888
(17,234)
400,905
Total
funds
2020
£
22,421
400,756
(8,685)
414,492

19. Pension commitments

The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £118 (2020 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.

Page 33

BUCKINGHAMSHIRE FEDERATION OF WOMEN'S INSTITUTES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021

20. Operating lease commitments

At 30 November 2021 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:

Amounts payable:
Amount due within 1 year
Amount due within 2-5 years
Total		 2021
£
1,210
3,477
4,687		 2020
£
1,210
4,687
5,897

21. Related party transactions

There were no related party transactions during the period (2020: £ nil).

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