## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |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| ## ## |6|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| ## ## |16|(a)|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.||||||| ## ## |16|(b)|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.||||||||| ## ## |22|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| |23|Restricted|Income|Funds|||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| ## ## ## ##