## **GLOUCESTERSHIRE FEDERATION OF**
**WOMEN'S INSTITUTES**
**Registered Charity No. 229211**
**FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2020**
**GLOUCESTERSHIRE FEDERATION OF WOMEN'S INSTITUTES**
## **FINANCIAL STATEMENTS**
**For the year ended 30 September 2020**
## **INDEX**
## **Page**
1 to 5 Trustees' Report 6 Independent Examiner's Report 7 Statement of Financial Activities 8 Balance Sheet 9 to 12 Notes to the Financial Statements
## **GLOUCESTERSHIRE FEDERATION OF WOMEN'S INSTITUTES**
## **TRUSTEES' ANNUAL REPORT**
The Executive Committee, as trustees, have pleasure in presenting their Annual Report and the Financial Statements for the year ended 30 September 2020.
## **Executive committee and administrative information**
The management of the Federation is undertaken by the Executive committee who are trustees of the Federation which is a registered charity, number 229211.
The members who served on the Executive Committee during the year were:-
## **Elected members:**
Janice Cole Chairman (from 26.3.2020) Jan Turner Chairman (to 26.3.2020) Liz Goldie Treasurer Maggie Vinson Vice Chairman Viv Woodger Vice Chairman (from 26.3.2020) Pat Stephens Assistant Treasurer Rose Stower Lesley Watters Judith Dodd Pat Beard (from 26.3.2020) Wendy Custerson (from 26.3.2020) Sue Davies (from 26.3.2020) Kathy Law (from 26.3.2020) Sheila Rowley (from 26.3.2020) Anne Turner (to 26.3.2020) Marion Postethwaite (to 26.3.2020)
In addition, the following acted as Custodian Trustees in respect of WI House :
Lady Carolyn Elwes Mrs B Howell Mrs Anne Turner
The Executive Committee is elected by the members and consists of not less than eight or more than fourteen elected members and up to three co-opted members. Appointments are for a period of two years. The officers are elected by the Executive Committee on an annual basis.
## **Bankers**
## **Independent Examiner**
HSBC plc D Horgan FCA The Cross Avalon Accounting Gloucester Chartered Accountants GL1 2AP 11 Penny Close Longlevens Gloucester GL2 ONP
1
## **GLOUCESTERSHIRE FEDERATION OF WOMEN'S INSTITUTES**
## **TRUSTEES' ANNUAL REPORT**
## **Principal Office of Charity**
WI House 2 Brunswick Square Gloucester GL1 1UL
## **Structure governance and management**
The Women's Institute is an association of women.The Gloucestershire Federation of Women's Institutes is an unincorporated Federation with a constitution in the form laid down from time to time for Women's Institutes by the National Federation. The latest constitution and rules were adopted by a special resolution dated 1 June 2013. The Gloucestershire Federation was formed in 1919. A Womens' Institute may be formed in a village, town, city or district where the Federation considers that there is a need for an organisation for women interested in issues associated with rural life including arts, crafts and sciences. No Women's Institute may be formed unless visited by a WI Adviser.
Federation trustees are elected by the members for a period of 2 years. Other trustees may be appointed or co-opted as vacancies occur. All Trustees have equal responsibility and work and are required to sign a letter of appointment.
Trustees are defined by section 97 of the Charites Act 1993 as "persons having the general control and management of the administration of the Charity". Trustees, sometimes called Executive Committee members, are the governing body of the Charity and are responsible for the management of the Federation and can delegate duties while maintaining overall responsibility.
## **Objectives of the Gloucestershire Federation of Women's Institutes**
The principal objective of the Federation is the furtherance of the purposes of the Women's Institute movement in Gloucestershire . The objects of the WI movement are to advance the education of women and girls in citizenship, in public questions both national and international, in music, drama, and other cultural subjects, also to secure instruction and training in all branches of agriculture, handicrafts, home economics, health and social welfare. It seeks to give women the opportunity of working together through the Women's Institute organisation and of putting into practice those ideals for which it stands.
## **Activities of the Charity**
The Charity is engaged in a wide variety of activities including the provision of education classes for members and organising fundraising events such as walks, seminars and speaker events. Newsletters are also provided to members 10 times a year. The charity also receives income from shop trading, investment income from bank funds and managed investment funds. Rental income is also received from the flat at WI House and membership fees provide an important source of funding.
2
**GLOUCESTERSHIRE FEDERATION OF WOMEN'S INSTITUTES**
## **TRUSTEES' ANNUAL REPORT**
## **Achievements in year**
This financial year has been one of two distinct halves. Life as normal and life in lockdown We started the year with the culmination of our centenary: a three day display of the work of the Federation and the individual WIs and a service of thanks giving at Gloucester Cathedral; a very well supported event and a fitting conclusion to our centenary. An event like this takes a lot of planning and is inevitably costly in both time and money to stage but as a showcase for the WI and an event to be enjoyed by many members was well worth the effort.
Education is a prime objective of the WI. Training was offered for presidents, secretaries and treasurers and fortunately took place before lockdown and was well taken up. Craft classes were offered monthly as usual until March and then were curtailed, but then continued as demonstrations on-line. Monthly walks took place and the resolutions meeting was held. Our Christmas outing to Waddesdon Manor was very well supported and greatly enjoyed. Our annual holiday to the Isle of Wight was well subscribed and then cancelled due to the failure of the tour company. The Christmas concert with Elin Manahan as the main performer was enjoyed by those attending with bumper raffle prizes marking the centenary provided by local businesses.
However, the whole world changed at the end of March causing everything to be cancelled, postponed or abandoned. Our Annual Council Meeting was the first casualty and after much deliberation in a period of great unknowns it was decided to cancel it completely but circulate the relevant documents to WIs for information. Our officers for the year were elected by email
One by one all upcoming events were cancelled and with it the inevitable loss of income. The Trustees gave approval for the staff to take part in the Government furlough scheme giving us time to take stock. Our Federation secretary was able to work from home and with the relaxation of the furlough rules the other two members were able to work some hours also from home. With six months of furlough the staff salary bill was reduced and with a grant from Gloucester City Council plus business rates being cut, we have been able to keep our heads above water. Our membership numbers remained stable as most members had renewed their memberships before the implications of Covid struck.
All is not doom and gloom by any means. We have embraced on-line meetings using Zoom and the trustees and sub committees have met as usual using this platform and the business of the WI has been able to continue. With the aim of providing a service to members, talks on a variety of topics have been offered via zoom, however the take-up varies. Craft classes and demonstrations have also continued via zoom and seem to work well. Many Institutes are also using zoom for meetings and have been quite innovative, but there are also many where the internet is unreliable or because members either do not wish or are unable to embrace technology or do not have the equipment to do so, and no meetings have taken place since lockdown.
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## **GLOUCESTERSHIRE FEDERATION OF WOMEN'S INSTITUTES**
## **TRUSTEES' ANNUAL REPORT**
## **Achievements in year ( cont)**
The trustees are mindful of the support and understanding from members in difficult times and appreciate that they too are experiencing difficulties.
Our three staff have been exceptional in coping with the changed working patterns and the environment and all the complications thrown at them. The Officers and trustees thank them wholeheartedly for being cheerful and adaptable and their ability to 'keep the show on the road'. Without them the Federation would not have been in such good shape at the end of this financial year going forward.
## **Reserves Policy**
It is the policy of the Charity to maintain where possible the current level of reserves to provide sufficient cover to pay management and administration costs as budgeted and to respond to unforeseen emergency expenditure which may arise from time to time. This may not have been the year when we needed to use these reserves, but we are very aware that the future is still very uncertain and that in the upcoming financial year we may have to use some of these reserves.
4
## **GLOUCESTERSHIRE FEDERATION OF WOMEN'S INSTITUTES**
## **TRUSTEES' ANNUAL REPORT**
## **Finances**
The attached financial statements show the current state of the finances which the committee consider to be sound with bank and cash balances of £ 123840 and investments valued at £87186.
## **Market value of land and buildings**
The most recent professional valuation of the Federation's freehold land and buildings, WI House, was undertaken in July 2007 by Hamiltons Chartered Surveyors which produced an open market value of £400,000 with vacant possession. The market value has not been incorporated in these financial statements.
## **Risk Management**
The Trustees continue to monitor the major strategic, business and operational risks which the charity faces and has regular Executive Committee meetings to discuss such risks. In addition regular internal management accounts are produced and reviewed to ensure continued safe stewardship of Charity assets and an Annual Budget prepared to set out financial objectives for the year.
## **Trustees responsibilities in relation to the Financial Statements**
Law applicable to charities in England and Wales requires the Trustees to prepare Financial Statements for each Financial Year which give a true and fair view of the Charity's financial activities during the year and of its financial position at the end of the year. In preparing those Financial Statements, the Trustees are required to :
* select suitable accounting policies and then apply them consistently;
* make judgements and estimates that are reasonable and prudent;
* state whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the Financial Statements and
* prepare the Financial Statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping accounting records which 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. 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.
On behalf of the Executive Committee
WI House 2 Brunswick Square Gloucester GL1 1UL
Mrs J Cole
Chairman 22 February 2021
5
## **INDEPENDENT EXAMINER'S REPORT**
## **To the Trustees and members of the Gloucestershire Federation of Women's Institutes**
I report on the accounts of the Charity for the year ended 30 September 2020, which are set out on pages 7 to 12 .
## **Respective Responsibilities of Trustees and Examiner**
As the charity's trustees you are responsible for the preparation of the accounts: you consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to examine the accounts under section 145 of the Charities Act; to follow the procedures laid down in the general directions given by the Charity Commission (under section 145(5) of the Charities Act), and to state whether particular matters have come to my attention.
## **Basis of Independent Examiner's Report**
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and subsequently I do not express an audit opinion on the view given by the accounts.
## **Independent Examiner's Statement**
In connection with my examination, no matter has come to my attention
1. which gives me reasonable cause to believe that, in any material respect, the requirements
- to keep accounting records in accordance with section 130 of the Charities Act
- to prepare accounts which accord with the accounting records and to comply with the requirements of the Act
- have not been met; or
2. To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Name: D Horgan Relevant professional Chartered Accountant qualification or body: Address 11 Penny Close Longlevens Gloucester GL2 ONP Date: 22 February 2021
6
## **GLOUCESTERSHIRE FEDERATION OF WOMEN'S INSTITUTES**
## **STATEMENT OF FINANCIAL ACTIVITIES**
**For the year ended 30 September 2020**
|**Notes**
**Incoming resources**
Membership fees
County activities
County newsheets
Restricted donations
Rent receivable
Miscellaneous income
Investment income
Shop income
2
JRS Furlough Grants
Local Authority Grant
**Total incoming resources**
Shop expenditure
2
**Net Incoming resources**
**for charitable expenditure**
County activities
County newsheets
Restricted fund donations
Administration expenses
3
**Total charitable expenditure**
**Total resources expended**
**Net incoming resources**
Change in market value
7
of investments (unrealised)
**Net movement in funds**
Total funds brought forward
Property revaluation adjustment
**Total funds carried forward**|**Unrestricted **
**funds**
**£**
35988
89572
7412
-
7800
6815
5417
3080
10452
25000
191536
3501
188035
69527
7540
-
78919
155986
159487
32049
-23971
8078
227006
-
235084|**Restricted**
**funds**
**£**
-
-
-
-
-
100
-
-
-
-
100
-
100
-
-
-
-
-
-
100
-
100
3832
-
3932|**Totals**
**2020**
**£**
35988
89572
7412
-
7800
6915
5417
3080
10452
25000
191636
3501
188135
69527
7540
-
78919
155986
159487
32149
-23971
8178
230838
-
239016|**Totals**
**2019**
**£**
42435
167780
11832
100
7800
4922
5474
7941
-
-|
|---|---|---|---|---|
|||||248284
6742|
|||||241542
151897
6850
-
101767|
|||||260514
267256|
|||||-18972
707|
|||||-18265
249103
-|
|||||230838|
7
## **GLOUCESTERSHIRE FEDERATION OF WOMEN'S INSTITUTES**
## **BALANCE SHEET**
## **30 September 2020**
|**Notes**
**Fixed Assets**
Tangible assets
6
Investments
7
**Current assets**
Stock
8
Debtors
9
Cash and bank
**Creditors: amounts falling due**
10
**within one year**
**Net Current assets**
**Net assets**
**Funds**
General reserve
Restricted fund
11
**Total funds carried forward**|**2020**
**£**
49915
87186
137101
3385
11561
123840
138786
36871
101915
239016
235084
3932
239016|**2019**
**£**
51846
111157|
|---|---|---|
|||163003
3849
14617
104525|
|||122991
55156|
|||67835|
|||230838|
|||227006
3832|
|||230838|
The financial statements on pages 7 to 12 were approved by the Executive Committee on 22 February 2021
**Chairman Mrs J Cole Treasurer Mrs E Goldie**
8
## **GLOUCESTERSHIRE FEDERATION OF WOMEN'S INSTITUTES**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **30 September 2020**
## **1. Accounting Policies**
## **Basis of accounting**
The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note to these accounts. The accounts have been prepared in accordance with the Statement of Recommended Practice : Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and with the Charities Act 2011.
## **Grants**
Grants are recognised in full in the Statement of Financial Activities in the year in which the charity has an unconditional entitlement to the resource.
## **Depreciation**
Depreciation of fixed assets is calculated to write off their cost less any residual value over their estimated useful lives as follows:
Fixtures and fittings 10% - 20% straight line Office equipment 20% straight line Property Improvements 4% straight line
No depreciation is provided on freehold buildings as, in the opinion of the executive committee, the current market value is not less than the cost and the buildings are fully maintained thus ensuring that any depreciation would be immaterial.
## **Investments**
Listed investments are stated at market value with any changes in value being shown as an adjustment in the statement of financial activities.
## **Stock**
Stock is stated at the lower of cost and net realisable value. Net realisable value is based on the estimated selling price less the estimated cost of disposal.
## **Taxation**
No provision is made for taxation as the Federation is a registered charity and is not liable to taxation on its income.
9
## **GLOUCESTERSHIRE FEDERATION OF WOMEN'S INSTITUTES**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **30 September 2020**
## **2. Shop income and expenditure**
|Turnover
Cost of sales
Gross(Loss) profit
**3. Administration expenses**
Rates
Insurance
Light and heat
Premises repairs
General repairs and servicing
Staff salaries
Agency staff
Employer pensions
Copier hire and photocopying
Printing and stationery
Postage
General travel costs
Training costs
Telephone
Independent examination
Accountancy
Computer and software costs
Bank charges
General cleaning and gardening
Subscriptions
Sundry expenses
Depreciation
**4. Employees**
Average number in year
**5. Staff Costs**
Salaries
Social security costs and pensions|**2020**
**£**
3080
3501
-421
1892
2972
1750
1169
783
50764
-
969
4759
726
755
3051
29
702
700
250
1283
1237
1103
55
1703
2267
78919
3
50764
969
51733|**2019**
**£**
7941
6742|
|---|---|---|
|||1199|
|||2574
2682
2112
11295
698
48196
5149
770
2778
1601
3825
8255
-
707
650
200
1269
1262
2169
108
2842
2625|
|||101767|
|||3|
|||48196
770|
|||48966|
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## **GLOUCESTERSHIRE FEDERATION OF WOMEN'S INSTITUTES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTD)**
## **30 September 2020**
## **6. Tangible fixed assets**
|**Cost**
At 1 October 2019
Additions
Disposals
At 30 September 2020
**Depreciation**
At 1 October 2019
Charge for year
Disposals
At 30 September 2020
**Net book amount**
At 30 September 2020
At 30 September 2019
**7. Fixed asset investments**
Quoted investments
Market value at 1 October 2019
Additions/disposals
Net unrealised gain (loss)
Market value at 30 September 2020
Historic cost at 30 September 2020|**Freehold**
**Property**
**land and**
**Improvements**
**buildings**
**£**
**£**
25240
28940
**-**
**-**
**-**
**-**
25240
28940
**-**
5868
**-**
1179
**-**
**-**
**-**
7047
25240
21893
25240
23072|**Equipment**
**Fixtures**
**Furniture**
**£**
26919
336
**-**
27255
23385
1088
**-**
24473
2782
3534
**2020**
**£**
111157
**-**
-23971
87186
81730|**Total**
**£**
81099
336
-|
|---|---|---|---|
||||81435|
||||29253
2267
-|
||||31520|
|||||
||||49915|
|||||
||||51846|
||||**2019**
**£**
110450
**-**
707|
||||111157|
|||||
||||81730|
11
## **GLOUCESTERSHIRE FEDERATION OF WOMEN'S INSTITUTES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTD)**
## **30 September 2020**
|**8. Stock**
Goods for resale
**9. Debtors**
Amounts falling due within one year
Debtors
VAT recoverable
Prepayments and accrued income
**10. Creditors**
Amounts falling due within one year
Creditors
Social security and other taxation
Accruals and deferred income
Suspended Women's Institutes funds
**11. Restricted Funds**
As at 1 October 2019
Incoming resources
Outgoing resources
As at 30 September 2020|**2020**
**£**
3385
926
286
10349
11561
1271
642
30818
4140
36871|**2019**
**£**
3849|
|---|---|---|
|||-
-
14617|
|||14617|
|||12587
730
40943
896|
|||55156|
|||**£**
3832
100
-|
|||3932|
Restricted funds at 30 September 2020 consists of Help for Small Institutes of £3832 and garden fund for WI House £100.
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