2023-11-30-accounts - Buckinghamshire Federation Of Women's Institutes

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Trustees			Jennifer Burton
			Mary Chapman
			Joycelyn Cull
			Lynn Poster
			Carols Green
			Hilary Haworth
			Natasha Huckle
			Mmgaret Keys
			Linda Nicholls
			Susan Paxlon
			Thelma Sackman
			Deborah Sanders
Charity	number		228057
Principal	address		Une 11
			Bell Business Park
			Smeaton Close
			Aytesbury
			Buckinghamshire
			HP1 9BJR
Independent		examiner	Whitley Mimpson	Limited
			29-31 Castle Street
			High Wycombe
			Buckinghamshire
			Uneed Kingdom
			Hpl 3SRU
Bankers			Lloyds Bank pic
			27 - 31 White Hart	Street
			High Wycombe
			Buckingshire
			Hpl 1 2HL

The Truslees report was approved Z~~	The Truslees report was approved Z~~	by the Board ofTruslees.
Joyratyn Cull			Susan Paxton
Chairman			Honorary Treasurer
1tloslss

I report lo the Trustees on my examination of Ihe finanual stalemenls		of Buckinghamshire	of Buckinghamshire	of Buckinghamshire	Federaeon of	Federaeon of	Federaeon of	Women' s
Institutes (the Charily) forthe year ended 30November 2023.
Responslbfiltles and basis of report
As the Trustees ofIhe Chanly you are responsible for the preparation	ofthe financial			ststemenls		in sccordwtce with
the requirements ofthe Charities Act 2011 (the 2011Act)
I report in respect of my examination ofIhe Charily's financial statements cerned out				under	sectwn 145ofthe 2011
Ad. In carrying oul my examinatmn I have followed all the applicable		Directions given by			Ihe Charily Commission
under section 145(5)(b)ofIhe 2011Act.
Independent examlneris statement
Your aaenfion Is drawn to the fact that Ihe charfiy has prepared flnandal		slatemenls		in accordance wfih Accounfing
end Reporting by Charities preparing their accounts in accordance mth		the Financial		Reporfing Standard			applicable
in Ihe UK and Republic of Ireland (FRS 102) in preference to the Accounting erd Reporting					by Charifies		Slatemenl
of Recommended Pramce issued on I Apnl 2005 which is referred	to	in	the extant	regulations		bul hss	now been
withdrawn
I understand Ihat this has been done in order for financial statements	to provide a true and				fair	view In accordance
with Generally Accepted Accounting Practice effective for reporting penods			beginning	on or	efier	I January		2015
I have completed my examination. I confirm that no matters have	come to my altenfion				in connedion			with the
examination giving me cause lo believe that in any material respect
I accounting records were not kept in respect ofthe Chanty as required			by sectmn	130ofthe		2011Acb		or
2 the financial statements do not accord with those recoWs; or
3 the financial statements do not comply with the applicable requirements concerning					the form snd		content of
accounts set oul in the Chanties (Accounts and Reports) Regulations			2008other than		any requirement			that the
accounts give a true and fair view which is not s maser considered		as	perl ofan	independent		examination.
I have no concerns and have come across no other matters in connection			wfih the examinadon			to which		afiendon
should be drawn in this report m order to enable s proper understanding		cf	the financial stalemenls to be reached.
Jonathan Walton BFPFCAFCCA
Forand on behalf ofWhltley Stlmpson Limited
29-31 Castle Street
High Wycombe
Buckinghamshire
HP13 SRU
United Kingdom

						Unresb icted	Nestncted	Total	Total
						funds	funds
						2D23	2D23	2D23	2D22
					Notes	6	6	6	6
Income and endowments			from:
Donations erd	legacies					540	14,817	15,357	5,D24
Income from cherileble		sdivilies				53,171		53,171	75,626
Income from other Irading			acttvties			2,242		2,242	6,711
Investments						21,998	2,589	24,587	2,352
Other income									595,27D
Tots I Income						77,951	17,406	95,357	684,983
Expenditure on	raiang funds					43,353		43,353	46,930
Chantable adivities						92,464		92,464	84,582
Other					13	22,751		22,751
Total expenditure						158,568		158,568	131,512
Net (outgolngylncomlng			resources before		transfers	(80,617)	17,406	(63,211)	553,471
Gross Irsnsfers	between		funds			1,139	(1,139)
Net (expenditure)dncome			for the year/
Net movement	in funds					(79,478)	16,267	(63,211)	553,471
Fund balances	at I December 2022					433,053	521,323	954,376	400,905
Fund balances	at 30November			2D23		353,575	537,590	891,165	954,376

			2D23		2022
			E		E
Fixed assets
Tangible assets		14		43,300		31,798
Current assets
Stocks		15	5,786		6,309
Deblors		16	3,134		388
Investments		17	861,512		296,D94
Cash st bank and in	hand		I8,487		632,646
			888,919		935,437
Creditors: amounts	falling due within
one \rear'		18	(41,054)		(12,859)
Net current assets				847,865		922,578
Total assets less current liabilities				891,165		954,376
Income funds
Reelected funds				537,590		521,323
t)nrestd dad funds				353,575		433,D53
				891,165		954,376

	Accounting policies
	Accounting convention
	The financial statements have been prepared in accordance with Ihe Charity's governing document, the
	Charifies Acl 2DII, FRS ID2 "The Finandal Reporting Slardard applicable in the UK and Republic of Irelard'
	("FRS102")and Ihe Chanlies SORP "Accounting and Reporfing by Chanlies: Stalenwnt of Reconmended
	Pradlce appgcable lo charities prepanng their accounts in accordance with the Financial Repcrfing Standard
	applicable in Ihe UK and Republic of Ireland (FRS 102)' (efiedive I January 2010).The Charity is a Public
	Benefit Entity as defined by FRS 102.
	The financial statements are prepared in sterling, which is the functional currency of the Charfiy. Monetary
	amounts in these finwtcial slatemenls am rounded to the nearest fi.
	The financial statements have been prepared under the historical cost convention with items recognised al
	costor transaction value unless othenvise stated in Ihe relevwd notes lo these accounts.
1.2	Going concern
	The financial statements have been prepared on a going concern basis as the Trustees believe Ihat no
	malertal uncertainties exist. The Trustees have considered the level of funds held ard the expected level of
	income and expenditure for 12months from aulhori sing these financial statements. The budgeted income and
	expenditure is sugdenl with the level ofreserves for the charily to be able to continue as a going concern.
1.3	Charitable funds
	General funds are uunreslncted funds which are available for use at Ihe discretion of the Trustees m
	furtherance ofIhe general oblectives ofthe Trustees and which have not been designated for other purposes.
	Designated funds compnse unrestncted funds that have been sel aside by the Trustees fcr particular
	purposes. The aim and use ofeach desgnated isset out in the notes to the financial statements.
	Restnded funds are funds which are to be used in accordance with specific reslnceons imposed by donors or
	which have been raised by Ihe Tmstees for particular purposes. The coal of raising and admirfslering such
	funds are charged against the specific fund. The aim and use ofeach reslnded fund are sel out in the notes
	to the financial statemenls.
1.4	Income
	Ag income is recognised when the Charity has entitlement to the income, it is probable that the income will be received and thea t f' bl b ed reliably
	Cash donations are recognised on receipt. Other donations are recognised once the Chanly has been notified
	of the donation, unless performance conditions require deferral of the amount Income tax recoverable in
	relation to donations received under Gift Aid or deeds ofcovenant is recognised at Ihe time ol the donaeon
	For legacies, entitlement is taken as the earlier ofIhe date on which either. the Trustees is aware that probate
	has been granted, the estate has been finalised and notification has been made by Ihe executor(s) to the
	Trust that a dwtribulion will be made, or when a distribution is received from the estele Receipt ofa legacy, in
	whoh or in part, is only ccnsiderad probable when the amount can be measured reliably and the Trustees has
	been notified of the executor's inteneon to make a distribution Where legacies have been nofified to the
	charity, cr the charity is aware of Ihe granting ofprobate, and Ihe criter for inccme recognition have not been
	mel, then Ihe legacy is treated as a contingent asset and disclcsed if material. .

	Accounfing pohcies				(Confinued)
1.6	Expenditure
	Expenditure is recognised once there is a legal or constructive		obligafion to transfer economc		benefit to a
	third pariy, 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 lotal of direct coals end shared costs, including		support costs invdved	In undertaking each
	acsvity. Direct costs aaributable lo a single activity are allccated		directly to that activity.	Shwed	costs which
	contribute to more than one activity end support costs which		are ncl attributable to a single		adlvlty are
	apportioned between those adivities on a basis consistent with		the use of resources Central staff costs are
	afiocaled on the basis oflime spent, and depreciation charges are afiocaled on the porgon			ofthe	asset's use.
	Fundraising costs are those incurred in seeking voluntary contnbueons and dc not include				the costs of
	disseminating information in support ofIhe charitable acliveies. Support costs are those coals incurred directly
	in support of expenditure on the chisels of the the chanly and		mclude prelect management cerned out al
	Headquarters. Governance costs are those incurred in connection with administration			of the	charily and
	compliance «eth conslitulional and slatutory requirements.
	Casts of generadng funds we costs incurred In aaracting vdunlary income, and those			Incurred in trading
	acsvities that raise funds.
	Charilable activities and Governance costs are costs incurred on Ihe chan1ys educational				operations,
	induding support ccats and costs relaeng to the governance acsvities.		of the Trustees apportioned		lo charitable
1.6	Tangible fixed assets
	Afi assets costing more than 6600are capitalissd
	Tangible fixed assets are initially measured at cost and sdisequently measured at cost			or valuation, net of
	depreciation and any impairment losses
	Depreaalion is recognised so as to wn1e off Ihe cost or valuation		ofassets less their residual values ever their
	useful lives on the following bases:
	Other fixed assets Nil
	Crxrent asset inveslmenls are a form offinancial instrument cnd		are initially recognised at	their
	transaction cost and subsequently measured st fair value st the	Balance Sheet date, atless fair
	value cannot be measured reliably in which case it is measured	at cost less impairment. Investmenl
	gains and losses, whether realised or unrealised, are combined	and shown in the heading
	'Gainsi(losses) on investments' in the Slatemenl ofFinanaal Activfiies.
1.7	Impairment offixed assets
	At each reporeng end date, Ihe Chwity reviews the carrying		amounts of its tangible	assets	lo determine
	whether Ihere is any indication that those assets have sufiered		an impairment loss. If	any such indication
	exists, the recoverable amount of the asset is estimated in order to determine Ihe extent of the impairment
	loss (ifany).
1.6	Stocks
	Stocks are valued at the lower ofccet and net realisable value		afier makmg due allowance for		obsolete and
	slow moving stocks. Cost includes afi direct costs.
1.6	Interest racer«aha
	Cash and cash equivalents include cash in hand, deposits held st call with banks, other short-term liquid
	investments with orgmal maturities ofthree months cr less, and		bank overdrafls Bank overdrafls are shown
	within borrowings in current liabilifies

1	Accoungng pohcies																	(Congnued)	(Congnued)
1.10	Liabilities and provisions
	Liabilities are recognised	when there is cn obligation at Ihe Balance							Sheet			date as a			resu0 of a			past	event, il
	is probable that a transfer	of	economic benefit			will be required in seulement,							and the amount ofthe seaemenl
	can be estimated reliably	Liabilities are		recognised at			the amount		thai		the		chan1y		anticipates			it will pay to
	assis Ihe debt or the amount		il has received as advanced					payments	for	lhe		geode		or	services II		musl		provide
	Provisions are measured	at	the best estimate			of the amounts required					to		caela the obligation.					Where the
	effect of the 0me value of money is material,				the provision			Is based cn the					present		value ofthose amounts,
	discounted at the pre-lax	discount rate		that	reflects the			risks specific		to		the liability. The unwinding							of the
	discount is recognised within		interesl payable		and similar		charges.
	Liabihties are recognised	al the amount that the Chanty					antwipates		it will		pay to setge the					debt or ihe			amounl
	it has recwved as advanced		payments for the			goods or	services il must				provide.			Provisions are				measured al
	the baal esemate ofthe amounts required			to eagle the obligaaon. Where							Ihe		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 regecls the nsks	speafic to the lability				The unwinCing ofthe discount 0 recognised in the Slatemenl
	offinancial activities as a	finance cost.
1.11	Plnanclal Instruments
	The Charily only has financwl assets			and		financial	liabilaies of a			kmd			that	qualify		as basic			finanaal
	instruments. Basic finanaal		instruments	are		initially recognised			at	transaction				value		ard	subsequently
	measured at their cetdement		value with	the	exception		of bank loans			which			are	submquently				measured al
	amortised cost usmg the egestive interest			method.
2	Donations and legacies
		Unrestricted		Resp icted				Total	Unreslncted						Reslriaed
			funds			funds						funds				funds
			2023			2023		2023					2022			2022			2022
			E			E		E								f			f
	Donafions end gifts		39			14,817		14,856					144			3,685			3,820
	Legacies receivable		501					501				1,195							1,195
			540			14,017		15,357				1,339				3,605			5,024
3	Income from other trading		actlvlges
														Unrestricted			Unrestricted
																funds			funds
																2023			2022
																6			6
	Bulb scheme															2,242			6,711

4	Investments
		Unrestricted		Restricted	Tote I	Unrestricted	Restrt aed	Total
			funds	funds		funds	funds
			2023	2023	2023	2022	2022	2022
			E	E	E	E	E	8
	Inveslmenl income		21,998	2,509	24,587	1,950	402	2,352
5	Income from charitable	activities
							Unrestricted	Unrestricted
							Funds	Funds
							2023	2022
							8	8
	Shop						954	4,221
	Speakers						3,490	412
	Annual meetings BFWI/NFWI						4,565	ID,D16
	Centenary +I merchandise							17,733
	Board of1ruslees events	for	members				236	16,095
	Creatives crags, leisure and		lifeslyle				1,710	2,075
	Scenes and society						2,390	2,413
	Communications, archivists,		resilience				1,000	650
	Newslaiers arid postage						150	128
	Member subscriptions						30,659	37,120
							53,171	75,626

						Tots I	Unrestricted	Restrt cted	Total
							funds	funds
						2023	2022	2022	2022
						E	E	E	8
Net	gain	on	disposal	offreehold	property		125,270	470,000	595,270

		Unrestricted	Unrestricted
		funds	funds
		2023	2022
		6	6
Fundramng	trading expenses
Special project and support costs		37,036	40,487
Bulb scheme		6,317	6,443
		43,353	46,93D

				Charitable	Cha itable
				Expenditure	Expenditw e
				2023	2022
				6	6
Shop				3,334	5,7D6
Speakers				6,897	3,188
Annual meelrngs		BFWI/NFWI		17,725	28,489
Board ofTrustees events for members				9,831	22,429
Creative crafts, leisure and			lifestyle	7,612	4,4DD
Snence and	society			7,163	3,843
Communicalions,		archivist,	resgience	7,842	5,159
Members subscriplions				3,394	3,361
Newsleaers	and	postage		28,666	8,007
				92,464	84,582
				92,464	84,582

Support	costs
			Itaising fund	Cha riti bls	2023	2022	Basis uf allocation
				activities
				8
Staffcosh			20,686	31,381	M,067	40,561	As per staff
Depmuation			778	5,782	6,560	1,525	DIIBCI
Telephone	and postage		939	34,209	35,148	1,841	0 IIBCI
Bank charges				8	8	33	DIIBCI
Cleaning	of pm rmses		749	1,852	2,601	1,469	DIIBCI
lmumnce			1,884	f5)	1,879	3,693	DIIBCI
Fuel and	kgtit		2,314	I2,203)	111	4,538	DIIBCI
Water rates				5	5	172	DIIBCI
General retm			857	614	1,471	1,507	0 IIBCI
Decoratng, repair		and mamlenance	1,2tl4	3,516	4,720	2,362	DIIBCI
Stationers	and oflice expenses		2,244	4,693	6,937	4,400	DIIBCI
Sundnes			34	(29)	5	66	DIIBCI
Legal and	professional		2,796		2,796	6,406	Governance
Governance msh				6,775	6,775	4,339	Governance
				86,598	121,063	72,912
Analysed	between
Other-non	support	costs	31,619		37,485	58,600
			66,104	92,464	158,568	131,512

The average	monthly
		2D23	2D22
		Number	Number
Employees
Employment	costs	2023	2022
		2	2
Wages and	salaries	51,347	39,531
Eoual secunty costs		720	1,030
		52,067	40,561

			Unrestd aed	Total
			funds
			2023	2022
Net loss on disposal oftangible		fixed assets	161
Other expenditure	-Rent payable		22,590
			22,751

14	Tangible fixed assets
			Flxtums and fittings
				6
	Cost
	At I December 2022			50,964
	Additions			18,625
	Disposals			(602)
	At 30November 2023			68,987
	Depreciation and impairment
	At I December 2022			19,165
	Depmcialion charged	in Ihe year		6,560
	Eliminated in respect ofdisposals			(38)
	At 30November 2023			25.687
	Cw rying amount
	At 30November 2023			43,300
	At 30November 2022			31,798
15	Stocks
			2023	2022
			E	2
	Finished goods and goods for resale		5,786	6,309
16	Debtors
			2023	2022
	Amounts falling due	within one year:	E	2
	Trade debtcrs			1
	Otherdeblors		110	83
	Prepaymenls and accrued income		3,024	304
				388
17	Current asset investments
			2023	2022
			E	2
	National Savings Income Bond		723,221	I78,221
	COIF Charities Deposit Account		138,291	117,873
			861,512	296,094

Creditors: amounts f	alling due within one year
		2023	2022
		5	5
Other taxalion and sccwl secunly		2944	657
Trade creditors		34,081	7,273
Other creditors		1,029	1,929
Accrue(a and deferred	income	3,000	3,000
		41,054	12,859

			Movement	Movement
		Bslsllce st	aaanaea	Resources	rrsnsrea	asuncesi
		1December	funds	expended		tc november
		trna				tots
		5				5
Oennwn - Bucks Room		(1D)				(1D)
Closed institutes		13,169	2,190		2,321	17,680
Needy fund		2,197	89			2,342
Millemium	fund	5,409	215		(616)	5,DD8
Memorial fund		12,359	923		(345)	12,937
Ripp fund		1,193	47		(220)	1,020
Eyre fund		2,427	92		(250)	2,269
Named funds		g82	13,3D3		(955)	13,33D
Celebration	fund	852	35			887
lady Legge		1 gg3	83			2,076
E M Baunders		57D	21		(14D)	451
Joyce Wilton		8,435	335		(990)	7,78D
20-10fund		1,747	73			1,820
Property funds		470,000				470,000
		521,323	17,406		(1,139)	537,590

10	Restncted funds (Congnued)	Restncted funds (Congnued)
	Restricted Funds
	Note. Isdudes changes to governing documents ofsome bursenss es eppmvsd by Tmstees at the November
	202f Board meeting.
	Closed Women's Institutes fund and transfers - Ifan institute suspends monies are deposited into this fund
	Ifa suspended institute does rmt re-open within three years, the money is transferred into general funds.
	Wl Support Fund (was Needy fund) - This is an amount set aside for institutes that are in need of	finannal
	assistance.
	Property fund —This fund will be set up from Ihe proceeds ofthe sale of Stuart Lodge and sel aside	fcr any
	future purchase of buildings or land
	The foyom'ng restricted funds represent 0 nds for awards only available for Women's lnsgutes' members in
	Bucki n gh em shire.
	Millennium fund - This fund provides an annual bursary for any residential education or training	course,
	delivered by the Denman Trust orother providers as approved by the BFWI Board ofTrustees.
	Memorial fund - This fund provides an annual bursary for any two-day residential education or	training
	course, delivered by Ihe Denman Trust or other providers as approved by the BRM Board ofTrustees
	DSD Ripp fund - This kmd was sel up to provide an annual bursary towards the course cost, alternating
	between Art and Photography, to be taken anywhere.
	Elizabeth Eyre fund - This fund provides an annual bursary fora Craft course.
	Named funds - This consists ofthe Stmde and Becklon Ionia The Strode fund provides a biennial bu	sary for
	a fun music course delivered by the Denman Trust or other providem as approved by Ihe BFWI Board of
	Trustees, Ihe Beckton fund provides a bursary for any residential course. Awarded in alternate years.
	Celebration fund - This fund prow'des a biennial bursary for any residential course.
	Lady Legge ~This fund provides an annual bumary for any residential education or Iraining course, ddivered
	by the Denman Trust orother pmvidem as approved by the BFWI Board ofTrustees
	E M Saunders ~ This fund provides an annual bursary for a cookery course, delivered by the Denman Trust
	or other providers as approved by the BFWI Board ofTrustees.
	Joyce Wilton - This fund provides an annual bursary open to members of Prestwood and Presiwood	Evening
	Wls only, to be used for an educational trip or outing according lo Ihe wishes of Ms Wilton's family
	20.10 fund ~ This fund provides an annual bursary towards ~ two-nigM residential education or	training
	course, delivered by Ihe Denman Trust or other providers as approved by the BFWI Board ofTrustees.

Analysis ofnet assets	between funds
	Unrestricted	Restricted	Total	Unrestricted	Restdcted	Total
	funds	funds		funds	funds
	2023	2023	2023	2022	2022	2022
	E	E	E	E	E	8
Fund balances at 3D
November 2023 are
represented by
Tangible assets	43,300		43,300	31,798		31,798
Current asselsi(liabilifies)	310,275	537,590	847,865	401,254	521,324	922,578
	353,575	537,59D	891,165	433,D52	521,324	954,376

non-cancegable operafing leases, which fall due as follow	s
	2823	2D22
	6	8
Within one year	18,9DD	18,9DD
Between two and five years	17,502	36,4D2
	36,402	55,302