The County Federation of Women's Institutes, Isle of Wight
Charity Number 228856
Annual Report
and
Financial Statements
For the Year 1st January 2023 to 31st December 2023
The County Federation of Women's Institutes, Isle of Wight Charity Registration 228856
Annual Accounts Year Ended 31st December 2023
| Contents | Page |
|---|---|
| Administrative & Legal Information | 1 |
| Trustees Report | 2 - 3 |
| Independent Examiners Report | 4 |
| Statement of Financial Activities | 5 |
| Statement of Assets and Liabilities | 6 |
| Notes to the Accounts | 7 & 8 |
| Notes continued - Analysis of Income | 9 |
| Notes continued - Analysis of Expenditure | 10 |
| Notes continued - Staff Costs, Trustee Expenses, Tangible Assets | 11 |
| Notes continued - Debtors, Creditors & Liabilities | 12 |
Page 1
The County Federation of Womens Institutes, Isle of Wight
Charity Registration 228856
Administrative & Legal Information for Year Ended 31st December 2023
The Trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of the statement of Recommended Practice (SORP) "Accounting for Charities" (FRS 102}") in preparing the annual report and financial statements of the Charity.
The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the Charity's governing document and the Charities Act 2011.
Registered Office 42 Carisbrooke Road Newport Isle of Wight PO30 1BW
Names of charity trustees who manage the charity: Trustees Mrs Sue Biss Federation Chairman Mrs Angela McCallum Federation Secretary - Jan- Nov 23 Mrs Hazel Breach Federation Treasurer Mrs Dorothy Maskell, MBE Mrs Valerie Andrew Mrs Liz Groves Mrs Carol Jones Mrs Lindsay Rowlands Mrs Carys Gladdish Mrs Sandra Singleton Independent Examiner Tracie Wilson MICB, AATQB, PM Dip Ms Friday Accountancy Services Ltd Registered Office Address: Onward Business Hub College Close Sandown Isle Of Wight PO36 8EB Banking Barclays Bank 6-8 High Street Ringwood BH24 1BZ Santander 21 Prescot Street London E1 8AP CCLA Senator House 85 Queen Victoria Street London EC4V 4ET
Page 2
TRUSTEES’ ANNUAL REPORT - 1ST JANUARY 2023 TO 31ST DECEMBER 2023
THE COUNTY FEDERATION OF WOMEN’S INSTITUTES ISLE OF WIGHT CHARITY REGISTRATION: 228856
42 Carisbrooke Road Newport Isle of Wight PO30 1BW
Names of charity trustees who manage the charity:
Mrs Sue Biss Federation Chairman Mrs Angela McCallum Federation Secretary - Jan- Nov 23 Mrs Hazel Breach Federation Treasurer Mrs Dorothy Maskell, MBE Mrs Valerie Andrew Mrs Liz Groves Mrs Carol Jones Mrs Lindsay Rowlands Mrs Carys Gladdish Mrs Sandra Singleton
Structure, Governance and Management:
The charity governing document is by constitution and is governed by a trust. Trustees are appointed by the Board of Trustees and the appointment is ratified by the membership.
The CFWIIW represents the WI movement on the Isle of Wight, it co-ordinates WI activities on the island; it promotes education and the unity of purpose for the WI movement.
It represents 31 island Institutes with a total membership of approximately 900 women and is affiliated to the National Federation of Women’s Institutes.
Objectives and Activities:
The main purposes of the Women’s Institute Organisation is to improve and develop conditions of life in accordance with the rules and constitution of the WI:
1 to advance the education of women and girls for the public benefit in all areas including, without limitation, local, national and international issues of political and social importance, music, drama and other cultural subjects, in agriculture, crafts, home economics, science, health and social welfare;
2 to promote sustainable development for the public benefit by educating people in the preservation, conservation and the protection of the environment and the prudent use of natural resources; and promoting sustainable means of achieving economic growth and regeneration; to advance health for the public benefit;
3 to advance citizenship for the public benefit by the promotion of civic responsibility and volunteering.
Public Benefit:
The trustees confirm they have complied with the duty as set out in section 17 of the Charities Act 2011 and have due regard to public benefit guidance in determining the activities carried out by the Charity.
Page 3 We closed the year with 892 members. which is marginally down on last yea¢s figures. Regrettably. we did not achieve the growth we hoped for. However. the plans to reinstate the former Lake Wl were successful and it was re-opened in April 23 with a new nJme-The Bay. The Royal Agricultural Show. our main fundraiser held on the weekend of %h-8thJufy. was again a 2-day evenL The Wl Tea Tent was well receive(l as usual and for the first time we had a free Parent and 8aby tent offering changing facilities. a microwave, nursin8 chair and play area. Whilst it did not gener*e income it was extremely well received and helped raise the profile of the island's Wls. The Federation Annual Meetin& on 2%the July, was held again at Northwood House. The keynote speakers were Bob Sealy. Member of Parliament for the Isle of Wight, and Donna Jones, Police and Crime Commissioner for Hampshire and the Isle of Wight. Both speakers talked about the future of our island, including such toycs as ferries, funding and felons,. ly)th encouraged questions and debate from our members. The meeting was well attended and the engagement from our members, in all aspects of the day. was eXlIent. We were invited to provide the refreshments at Go Elertric- an event promoting all things ecofriendly and green,. 3 much more low-key event than the County Show. The weather was atrocious but despire thls- or possibly berdu5e of this- we had a very successful day and thè organisers have already intimated they would like us to do it again in 2024. Each year the Board of Trustees provide refreshmeltts at the annual High Sheriff s Remembrance Service in November. This is something we do. free of charge. for our community and we do not consider it to be a fundraising event We do. however. benefrt from kind ènd generous donations which go some way to cover our costs. Our last planned event of 2023 was to be a Christmas Fair, where individual W15 were invited to rent a sale5 table. this was to be on l&hNovember and run in conjunction th the i51and'5 county town Christmas events. Regrettably, due to heavy rainfall and serious flooding across the island this was cancelled. rinala1 Re¥lÈw: Whilst we did not see the wished for increase in membership the income from subscrlptions increased slightly- thanks to the rise in subscrÉption fees. The Wl Tea Tent at the Royal Agricultural Show, our main fundraiser, was again very successful. As last year, it was 8 2-day event and wtthout the support of our member5 manning the tent and baking the wonderful cakes we sell it would not be possible. Go Electric also provided a boost to our income. The fuel crisis had 3 masslve impact on our expenditure and the cost of our electricity charges more than doubled. That said we made savings on BOT and office travel expenses: we a150 benefitted from the inuease in bank interest ending the year with a healthy surplus. The Board of Trustees remain positive for the future and are confident that membership number5 will rise. Dedaration: The trustees decl trustees Signature...............-..... Full name.....-..S Position ........ he have approved the trustees. report abcNe. Signed on behalf of the ¢hariVs .. Date..... 11 g:.ii.4........._....
The County Federation of Women's Institutes, Isle of Wight Charity Registration 228856
Page 4
Annual Accounts Year Ended 31st December 2023
Independent Examiners Report
I report to the trustees on my examination of the accounts of The County Federation of Women's Institutes, Isle of Wight for the year ended 31st December 2023, which are set out on pages 5 to 12
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011, and considers that the audit requirement of Section 43(2) of the Charities Act 1993 (the Act) does not apply.
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair' view and the report is limited to those matters set out in the statement below.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
-
the accounting records were not kept in accordance with section 130 of the Charities Act; or
-
the accounts did not accord with the accounting records; or
-
the accounts did 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.
Signed by the Independent Examiner:
Date: 13/08/2024
Tracie Wilson MICB, AATQB, PM Dip Ms Friday Accountancy Services Ltd Registered Office Address: Onward Business Hub College Close Sandown Isle Of Wight PO36 8EB
The County Federation of Women's Institutes, blo of Wight 1st January 2023 to 31st December 2023 P8ge 5 Statemen of Financial Activities Funds 2023 Total £ Total Funds 2023 Total £ Last Year 2022 Total £ Income Income from Charltable A0¥11$ Affiliation Fees Trustee Events Sub Commiltee's 11,2TI.40 5,145.60 381.91 16,804.91 11,277.40 S.145.60 381.91 16,804.91 20,Ot 8,102 1,428 29,5 Incom• from Oth•r Tfadlng Actlvltlos Fundiaising Charitable Tr3ding ACtitieS 8,622.16 707.88 9,330.04 8.622.16 707.88 9.330.114 9,394 135 9.529 Investment Incon 2.226.1S 2,226.1S 551 28,1.10 28,361.10 39,616 2¢22 Inchjal Agency Collections NFIW Subs 11.964.35 11.964.35 Totsl Ineom• 4Q,325.45 40,325.45 39.616 ndifvre$ Costs of Ralslng Funds FundraisiThJ and Appeals Trading Malerials Charitable Activities Trustee Events SU Commrttee'3 Affiliallon Fees 1.991.74 1.991.74 2,409 127 7.438.54 7.438.54 10.618 2,905 11,972 12.000 40,031 186.rKI 186.00 Support Costs 15.654.54 25.270.82 15.654 54 25.270.82 2022 udJ1 Agency Collections Paid 12,048.62 12,048.62 Expendiiurps 37.319.44 37.319.44 40,031 Net of IncomelExpendTture (before revaluations) 3.006.01 3.006.01 415 Net Movement of Funds forth& year 3,006.01 3,006.01 415 Total Funds blfwd 1st January 2023 301,664.33 301,633 249.929.33 Prior Year G8ins I Ilosses) on reva1u8t1or of a55815 Total Funds eltwd 31st Docember 2023 304,670.34 304.670.34 301,664.33
The County Federation of Women's Institutes, Isle of Wight
Page 6
1st January 2023 to 31st December 2023
STATEMENT OF ASSETS AND LIABILITIES
| Notes Fixed Assets 8 Tangible Asset as A/R Revaluation reserve Current Assets Cash at Bank and In hand 11 Stock Debtors 9 Prepayments 9 Less Current Liabilities 10 Accruals Net Current Assets Less long Term Creditors Rounding difference error 2022 Net Assets Charity Funds Unrestricted Funds Revaluation reserve |
£ 62,783.11 144.00 120.81 725.33 63,773.25 -181.84 -375.00 -556.84 -5,489.27 |
Year Ended 31st December 2023 £ 195,208.20 51,735.00 246,943.20 63,216.41 304,670.34 252,935.34 51,735.00 304,670.34 |
£ 146,084 405 883 1,395 148,767 -91,210 -91,210 -3,725 |
Year Ended 31st December 2022 £ 247,829 |
|---|---|---|---|---|
| 247,829 | ||||
| 57,557 3 |
||||
| 301,664 | ||||
| 249,929 51,735 |
||||
| 301,664 |
The County Federation of Women's Institutes, Isle of Wight
Page 7
Financial Statements Year Ending 31st December 2023 - Notes to the Accounts
1.1 Basis of Accounting
These accounts 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.
The financial statements have been prepared in accordance with the second edition of the 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) (2019).
Accounting Policies
2.2 Income
Recognition of Income, this is included in the Statement of Financial Activities (SoFA) when:
-
the charity becomes entitled to the resources;
-
it is more likely than not that the trustees will receive the resources:
-
the monetary value can be measured with sufficient reliability.
Offsetting
There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.
Grants and Donations
Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP).
In the case of performance related grants, income must only be recognised to the extent that the charity has provided the specified goods or services as entitlement to the grant only occurs when the performance related conditions are met (5.16 FRS 102 SORP).
Tax Reclaimed (Gift Aid)
Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.
Support Costs
The charity has incurred expenditure on support costs.
The value of any voluntary help received is not included in the accounts but is described in the trustees' Annual Report and Social Impact Calculation.
2.3 Expenditure and Liabilities
Liability Recognition
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
Page 8
Governance and Support Costs
Support costs have been allocated between govemance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, e.g. allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Grants with Performance Conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specified service or output. ·
Creditors
The charity has creditors which are measured at settlement amounts less any trade discounts.
Tangible Fixed Assets
These are capitalised if they can be used for more than one year, and cost at least £50. They are valued at cost or valuation. The value of Cups and Trophies was written down in full in 2021. The method of depreciation is writing the net book value at 31.12.18 off over 5 years (20%SL). Any additions in the year will be depreciated at 20% SL.
Debtors
Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently. they are measured at the cash or other consideration expected to be received.
Stock
Stock has been valued at the lower of cost and net realisable value. Any obsolete stock has been written off
The County Federation of Women's Institutes, Isle of Wight
Page 9
Notes to the Accounts for the Year Ended 31st December 2023 - Continued
Note 3 - Analysis of Income
| Analysis of Income (Agency Collections) Charitable Activities Subscriptions Insurance Federation News AGM ACM Room Hire IWCFWI Sales Craft Catering Membership Christmas Fair Donation Rate Refund Total Other Trading Activities Centenary Commission on WI Raffle Agricultural Show Go Electric Event Jewellery Sales 150 Club Stationery & Diary Sales Total Interest Receivable Total Income Subscriptions collected on behalf of NFWI Fundraising Trading Activities |
2023 £ 11,964.35 9,855.90 1,421.50 452.00 4,012.50 681.10 170.00 184.00 12.07 221.36 148.48 - 2,000.00 200.88 19,359.79 - 152.69 4,872.17 677.30 - 920.00 153.00 6,775.16 2,226.15 40,325.45 |
2022 £ |
|---|---|---|
| 11,279 9,207 1,340 1,091 5,147 404 120 99 86 382 381 184 - - |
||
| 18,441 2,392 81 5,238 486 53 960 135 |
||
| 9,345 551 |
||
| 39,616 |
The County Federation of Womens Institutes, Isle of Wight
Page 10
Notes to the Accounts for the Year Ended 31st December 2023 - Continued
Note 4 - Analysis of Expenditure
| Analysis of Expenditure Subscriptions paid on behalf of NFWI (Agency) Expenditiure on raising funds: Agricultural Show 150 Club Go Electric Event Expenditure on Charitable Activities IWCFWI Trustee Events Federation News WIE Stationery & Diaries Office Stationery Postage AGM ACM Christmas Fair Federation Events Sub- Committees Craft Catering Membership Public Affairs Centenary Publicity Archivists Subscriptions & Affiliation fees Rates & Water Rates Heat & Light Insurance Travel Expenses Telephone & Internet Equipment Rental, Repairs & Maintenance House Repairs & Maintenance House Cleaning & General Computers & Software Professional Fees Training Bank Charges/SumUP Depreciation Stock Total Expenditure Note 5 - Net Income / (Expenditure) This is stated after charging: Depreciation of tangible fixed assets, owned by the charity Affiliation Fees Other Support |
2023 £ 12,048.62 1,314.04 520.00 157.70 1,991.74 443.43 132.30 209.74 10.79 4,006.60 821.07 - 180.00 13.95 345.03 1,231.23 0.00 44.40 - - 7,438.54 186.00 1,562.47 2,343.50 3,539.51 2,790.54 530.48 916.52 427.03 1,110.01 288.78 375.00 20.00 32.54 1,457.41 260.75 15,654.54 37,319.44 3,006.01 1,457.41 |
2022 £ 11,972 |
|---|---|---|
| 1,720 570 119 |
||
| 2,409 | ||
| 1,422 127 132 251 7,382 1,282 148 - 22 21 1,208 48 1,592 - 15 |
||
| 13,650 | ||
| - | ||
| 351 928 2,005 3,742 534 1,063 234 950 318 375 236 - 1,264 - |
||
| 12,000 | ||
| 40,031 | ||
| 415 | ||
| 1,264 |
Page 11
The County Federation of Women's Institutes, Isle of Wight Notes to the Accounts for the Year Ended 31st December 2023 - Continued
| Note 6 - Support Staff Costs Total Staff Costs |
2023 £ Nil |
2022 £ |
|---|---|---|
| Nil |
the Isle of Wight Federation of Women's Institutes does not have any employees
Note 7 - Trustee Remuneration
Trustee remuneration and benefits
During the year, no Trustees received any remuneration (2023 - £ Nil). During the year, no Trustees received any benefits in kind (2023 - £ Nil).
None of the trustees have been paid any remuneration or received any other benefits from an employment with the charity or a related entity.
Trustees' expenses
Ten Trustees have been reimbursed for out of pocket expenses incurred.
| Type of Expenses Reimbursed Travel Freehold Land& Buildings Fixtures & Fittings, Equipment Cost or valuation £ £ As at 1st January 2023 245,000.00 15,344.23 Additions - 569.79 Disposals - - Revaluation - - As at 31st December 2023 245,000.00 15,914.02 Depreciation As at 1st January 2023 - 12,513.41 Charge for the year - 1,457.41 Disposals - - As at 31st December 2023 - 13,970.82 Net Book Value As at 31st December 2023 245,000.00 1,943.20 As at 31st December 2022 245,000.00 2,829.00 Note 8-Tangible Fixed Assets |
2023 £ 2,790.54 Total Funds 2023 £ 260,344.23 569.79 - - 260,914.02 12,513.41 1,457.41 - 13,970.82 246,943.20 247,829.00 |
2022 £ |
|---|---|---|
| 3,742.00 | ||
| Total Funds 2022 £ 259,921 1,618 - - |
||
| 261,539 | ||
| 13,710 - - |
||
| 13,710 | ||
| 247,829 | ||
| 247,475 |
Page 12
The County Federation of Women's Institutes, Isle of Wight Notes to the Accounts for the Year Ended 31st December 2023 - Continued
Note 9 - Debtors and Prepayments
| Analysis of debtors Trade Debtors Prepayments Note 10 - Creditors and Accruals Amounts falling due within one year Analysis of creditors Trade creditors Accruals - Independent exam Other Creditors Other Accruals and Deferred income Amounts falling due over one year Other Creditors Note 11 - Cash at bank and in hand Cash at bank and on hand |
2023 £ 120.81 725.33 846.14 2023 £ 181.84 375.00 - - 556.84 5,489.27 2023 £ 62,783.11 |
2022 £ 883 1,395 |
|---|---|---|
| 2,278 | ||
| 2022 £ 743 375 90,052 40 |
||
| 91,210 | ||
| 3,725 | ||
| 2022 £ |
||
| 146,084 |
*CCLA account Interest due of £420.45 for last quarter to December 2023, reconciled February 2024.