2020-10-31-accounts - The Devon Federation Of Women's Institutes

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Registered		charity	229871
number
Principal address			The Firs
			Honiton Road
			Blackhorse
			Exeter
			EX52FT
Holding Trustees			Mrs M Noon
(County	Office)		Mrs J Shephard		- Blandy
			Mrs V Addison	-	Smith
Managing	Trustees		Mrs SM Saunders			(Chairman)
(executive		committee)	Mrs P Wyatt (Resigned				4th August 2020)
			Ms R Nebbett
			Mrs A Swain (Treasurer)
			Ms D Pritchett-Farrell
			Ms C Evans
			Ms R Matterface
			Ms J Connolly
			Ms E Gibbins
			Ms EWatson	(Vice Chairman)
			Ms M Rhodes	(Assistant			Treasurer)
Federation		Secretary	Ms A Taylor
Bankers			Co-Operative	Bank
			PO Box 101
			1 Balloon Street
			Manchester
			M60 4EP
Independent		Examiner	Neil Hitchings	FCA
			Francis Clark	LLP
			Chartered Accountants
			Centenary House
			Peninsula Park
			Rydon Lane
			Exeter, EX27XE

			Unrestricted	Restricted	Restricted
			Income	Income	Capital	Total	Total
		Notes	Funds 6	Fundsf	Funds	2020 6	2019 E
Income
Donations &Legacies
Charitable activities:
Federation events			21,818	300		22,118	100,172
Sub-Committees			13,287			13,287	60,453
Other trading activities
Affiliation fees			60,198			60,198	62,198
Investment income			7,663	14		7,677	7,982
Other income			15,148			15,148	24,335
Total income			118,114	314		118,428	255,140
Expenditure on
Raising Funds			5,672			5,672	13,495
Charitable activities:
Federation events		9	11,208			11,208	93,747
General		10	2,757			2,757	5,718
Administration		11	87,732			87,732	92,263
Sub-Committees		12	9,761			9,761	47,586
Total expenditure			117,130			117,130	252,809
Net gain/(loss) on	investments	16a/16b	(16,031)		(25,966)	(41,997)	5,200
Total income/(expenditure)			(15,047)	314	(25,966)	(40,699)	7,531
Transfer between	funds		(1,427)	(291)	1,718
Net movement in	funds		(16,474)	23	(24,248)	(40,699)	7,531
Reconciliation offunds
Total funds at 1 November 2019			551,466	1,874	137,426	690,766	683,235
Total funds at 31	October 2020		534,992	1,897	113,178	650,067	690,766
The notes on pages 9to 20 form part ofthese accounts.

Year Ended 31October 2020
			2020		2019
	Notes	f
Fixed Assets Tangible Investments	15 16			398,209 217,407		408,198 261,237
				615,616		669,435
Current Assets
Stocks	17		3,703		2,687
Debtors	18		11,022		16,155
Cash at bank and in hand	19		37,992		18,275
Total Current Assets			52,717		37,117
Current Liabilities
Creditors: amounts falling due within one year	20		18,266		15,786
Net Current Assets				34,451		21,331
Net Assets	21			650,067		690,766
Total funds ofthe charity: Unrestricted Income Funds	22			534,992		551,466
Restricted Income Funds Restricted Capital Funds	23 24			1,897 113,178		1,874 137,426
TotalCharitFunds				650,067		690,766

nde	d 31 October 2020
	Accounting Policies (continued)
(c)	Fixed Assets and Depreciation Tangible fixed assets are capitalised, and are stated at cost. For	assets brought forward				into use at
	the balance sheet date, depreciation is calculated to write off cost		over their	expected useful lives
	as follows:
	Freehold property 2'/o		straight line
	Furniture, fixtures and office equipment 25% reducing			balance
(d)	Leasing Rentals payable under operating leases are charged in the profit	and loss account on
	a straight line basis over the lease term.
(e)	Income
	Income represents amounts falling due within the period.
	Voluntary income is recognised when the charity becomes entitled		to receipt.
(f)	Stock
	Stock is stated at the lower ofcost and net realisable value.
(g)	Pension costs The charity makes contributions to a Group Personal Pension Scheme. The			charge	in the financial
	statements represents the contributions payable to the Scheme.
(h)	Value Added Tax The trust is not registered for Value Added Tax (VAT). Expenditure		in these	financial	statements
	therefore includes VAT paid where appropriate.
(i)	Financial Instruments Financial assets and liabilities are recognised/(derecognised) when the charity becomes/(ceases
	to become) party to the contractual provisions ofthe instrument.	The charity		holds the following
	assets and liabilities:
	Short term debtors and creditors
	Debtors and creditors with no stated interest rate and receivable	or payable		within one		year are
	recorded at transaction price. Any losses arising from impairment		(doubfful	debts) are recognised
	in the profit and loss account before operating profit.
	Investments
	Investments are stated at market value (quoted price). Realised	gains and losses on investments,
	together with any gains or losses on revaluation, are recognised	in the Statement of
	Financial Activities.

	The income from Do	The income from Do	The income from Do	nations and Legacies ofFnil (2019:fnil)	was unrestricted.
3	Federation events				Total	Total
					2020	2019
	Denman				1,041	49,063
	Carol Service				3,247	3,399
	National	Raffle				1,671
	Denman	Bursaries F1 a go				307
	Bursaries	(restricted)			300	500
	AGM - NFWI					11,473
	Christmas	Shopping		Trip	8,248	9,933
	400/500.	Club			6,374	1,592
	Meetings	- Council			88	13,511
	Shows				175	65
	Bulb Scheme				685	1,440
	2020 Centenary		celebrations		1,300	5,943
	Speakers	Day			70	1,275
	Advisers				590
					22,118	100,172

Investment	income			Total	Total
				2020	2019
				F	R
Income from	investments,	listed on a recognised	Stock Exchange	7,642	7,973
Bank Interest	Received			35	9
				7,677	7,982

7	Other income			Total	Total
				2020	2019f
	Release of suspended institutes			1,994	631
	Postage General			175	247
	News Sheets			3,755	4,238
	Publications
	Diaries			1,454	3,179
	Calendars				1,876
	Stationery News Sheets			600 7,170	1,800 12,364
				15,148	24,335
	The income from other of		f15,148(2019:f24,335)was unrestricted.
8	Expenditure on raising funds			Total 2020f	Total 2019 F.
	Diaries (adjusted for Calendars (adjusted Stationery (adjusted News Sheets	stock) for stock) for stock)		2,525 118 3,029	3,012 1,461 2,262 6,760
				5,872	13,495
	The expenditure ofraising		funds ofF5,672(2019:F13,495)was unrestricted.
9	Federation events			Total	Total
				2020	2019
				F.
	Denman				46,135
	Carol Service			972	1,024
	Bursaries E1 a go Bursaries (restricted)				150 1,700
	AGM - NFWI			74	10,951
	Christmas Shopping Meetings - Council Bulb Scheme		Trip	6,503 32 551	9,107 13,922 1,152
	Shows				253
	400/500. Club			1,875	1,592
	County Show				1,233
	Baton Week Expenses 2020 Centenary celebrations Speakers Day			1,391 10	6,153 375
				11,208	93,747

Devon Federation ofWomen's Institutes	Devon Federation ofWomen's Institutes	Devon Federation ofWomen's Institutes	Devon Federation ofWomen's Institutes	Devon Federation ofWomen's Institutes			13
Notes Forming Part ofthe Financial Statements					(Continued)
Year Ended 31 October 2020
10 General expenditure						Total	Total
						2020f	2019f
Board expenses						1,220	3,292
Federation expenses						400	1,370
Subscriptions (ACWW)							20
Advisers						1,137	1,036
						2,757	5,718
The expenditure on general		off2,757(2019:f5,718)was unrestricted.
11 Administration expenditure						Total	Total
						2020f	2019f
Rates						196	271
Lighting and heating						1,326	1,845
Telephone and broadband						2,010	3,033
Insurance						3,446	3,879
Wages and national	insurance			(staff numbers: 3;2019:3)		36,658	39,752
Staff pension scheme						3,636	3,970
Printing and stationery		(adjusted for stock)				695	1,798
Postage						5,536	7,792
Building maintenance		and cleaning				3,688	3,009
Office running costs						1,777	2,576
Bank charges
Hire ofequipment						2,416	3,246
General office expenses						51	2
Travel &Subsistance						186	360
Depreciation						10,118	10,456
Professional costs (Governance				costs)		15,993	10,274
						87,732	92,263
The expenditure on administration			off87,732(2019:f92,263)was unrestricted.

			Office equipment
			Total	Total
			2020	2019
			R	R
Within Within Over	5	1 year 2-5years years	3,915 4,682	3,968 7,757 500
			8,597	12,225

					Furniture,
					fixtures
			Freehold		and office
			property		equipment		Total
					f.
Cost
At 1 November 2019			448,559		36,289		484,848
Additions					129		129
At 31October 2020			448,559		36,418		484,977
Depreciation
At 1 November 2019			44,825		31,825		76,650
Charge for the year			8,971		1,147		10,118
Elimination of Depreciation
At 31 October 2020			53,796		32,972		86,768
Net Book Value
31October 2020			394,763		3,446		398,209
31 October 2019			403,734		4,464		408,198
Fixed Assets - Investments		summary
					2020		2019
					Market		Market
General investments:	16(a)			Costf	Value	Cost	Value E
Stocks				80,794	104,229	83,121	123,811
Capital investments:	16(b)
Stocks				26,618	95,644	24,197	120,250
COIF account for bursarles				9,000	9,000	9,000	9,000
Charles Stanley capital	account			8,534	8,534	8,176	8,176
				124,945	217,407	124,494	261,237

Fixed Assets	- General Investments			2020		2019
Market Value	at 31 October 2020:			Market		Market
Stock			Cost E	Value	Cost	Valuef
1,970 1,325 2,605 1,909 928 10,531 7,150 1,250 4,899 4,900 2,162 1,340 946	Equities Investment Fund for Charities / M&G Charifund BNY Mellon Fund Managers —Newton Global Invesco Fund managers - IP Global Equity Income Z Liontrust Fund Partners LLP Special Situations Royal London Unit Trust UK Equity Income M Threadneedle Investments Funds UK Equity Income Aviva Investors UK Svcs Ltd Strategic Bond 2 Monks Investment Trust Royal London Asset Management Man Fund Management UK Ltd Henderson Investment Funds Limited UK UK Gov Tresury Stock 2.5'/0 17/07/2024 Baillie Gifford &Co Global Income B Inc		5,787 3,657 5,879 13,421 4,428 2,708 5,000 5,346 3,508 2,909 6,458	23,034 5,616 5,586 11,923 4,481 7,758 5,224 4,702 3,675 2,821 7,616	5,787 4,845 3,753 3,657 5,879 13,421 4,428 2,708 5,000 5,346 3,504 4,965 6,542	31,401 6,429 5,909 6,043 7,485 15,121 4,411 6,012 5,284 6,708 3,588 4,925 7,316
2,660 3,359 1,606 345	F&C Commercial Property Trust lnvestec Fund Managers Diversified Income Fundsmith LLP Equity I INC NAV ISHARES II PLC USD tips 0-5		3,492 5,796 1,691	3,285 7,571 1,685	3,998 3,492 5,796	3,123 3,366 6,690
79	ISHARES physical metals pic		2,285	2,238
5	Personal assets trust ord GBP12.50		2,273	2,200
35 56 3,485	Vanguard Funds FTSE250 Vanguard funds PLC FTSE all wild high div Legal &General Global real estate dividend	yld IDX	1,198 2,458 2,500	945 2,043 1,826
			80,794	104,229	83,121	123,811
Investments
Market value	at 31 October 2019			123,811		135,272
Less: Add:	Disposals Net Gains/(losses) on disposal Net gains on revaluation at 31 October 2020 Additions at cost			(15,956) (1,116) (14,915) 12,405		(24,581) (368) 4,673 8,800
	Equalisation					15
Total Market	value at31October 2020			104,229		123,811
Total Historical cost as at 31 October 2020				80,794		83,121
All investments held are UK assets.

Fixed Assets	- Capital Investments	- Capital Investments
							2020		2019
Market Value	at 31October 2020:						Market		Market
Stock						Cost F	Valuef	Cost 6	Value
6,354	Equities Investment	Fund for Charities			/ M&G Charifund	6,611	74,285	6,611	101,266
1,390	INT Public Partner					1,766	2,335	3,646	4,529
0	Kames Capital PLC	Investment		Grade	Bond B			4,981	5,446
39	Vanguard Investment		Series U.SGOVT BOND			4,000	4,190	2,500	2,510
2,873	Henderson Investment		Funds LTD			3,987	4,132	4,000	4,008
17	LYXOR International	Asset MGMT (UK) LTD				2,459	2,549	2,459	2,491
54	Vanguard Investment		Series Global credit BD Investor GBP			5,500	5,753
1,365	HICL Infrastructure PLC					2,295	2,400
						26,618	95,644	24,197	120,250
Capital Bank	Balance
COIF account	for bursaries					9,000	9,000	9,000	9000
Charles Stanley capital account						8,534	8,534	8,176	8176
						44,152	113,178	41,373	137,426
Investments
Market value at 31 October 2019							137,426		122,595
Net profit /(loss) on revaluation at 31 October				2020			(26,576)		786
Additions at cost							9,295		8,959
Disposals							(7,935)		(2,980)
Execution Costs
Equalisation proceeds added to capital funds
Gain/(loss) on disposal offixed asset investments							610		109
Increase/(Decrease) in cash balance							358		7,957
Total Market	value at 31October	2020					113,178		137,426
Total Historical cost as at 31October 2020							44,152		41,373
All investments	held are UK assets.

Unrestricted	Income Funds	Income Funds	B/f				Transfer	C/f
			01 November 2019 F	Income	Expenditure	f	between funds f	31October 2020
General fund			544,932	118,098	(133,161)		(1,427)	528,442
Designated funds:
Suspended		Institutes	3,573					3,582
Building	Fund		947					954
House	Fund	(Nat West)	2,014					2,014
			551,466	118,114	(133,161)		(1,427)	534,992

Restricted			B/f				Transfer	C/f
	01	November	2019 E	Income F	Expenditure	F	between funds F	31October 2020 f
Bursaries			1,874	314			(291)	1,897
			1,874	314			(291)	1,897