Registered Charity No. 230474
SOLIHULL WOMEN'S INSTITUTE FINANCIAL STATEMENTS
31 DECEMBER 2023
Principal Address:
W. I. Hall 745 Warwick Road Solihull B91 3DG
SOLIHULL WOMEN'S INSTITUTE CONTENTS OF THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
| Page | |
|---|---|
| Trustees' Report | 2 |
| Independent Examiner's Report | 3 |
| Income and Expenditure Account | 4 to 6 |
| Statement of Assets and Liabilities | 7 |
| Notes to the Financial Statements | 8 to 9 |
Page 1
SOLIHULL WOMEN'S INSTITUTE TRUSTEES REPORT
YEAR ENDED 31 DECEMBER 2023
As the largest women’s organisation in the UK, the National Federation of Women's Institute (NFWI) aims to offer women the best opportunity to make an impact in their communities, to influence local, national and world issues which affect the social, economic and environmental life of families and communities. The organisation also offers opportunities for members to learn new and traditional skills.
The Governing Document of our W.I. is the model constitution with rules and is lodged with the Charity Commission.
The Trustees of Solihull W.I., (Charity Reg No. 230474) are members of the main committee.
Trustees acting during the year ended 31st December 2023 were:
Mrs. Jean Jones - President Mrs. Angela Mason – Secretary (resigned May 2023) Mrs. Pauline Clarkson - Treasurer Mrs. Olwyn Hyatt - Vice President Mrs. Susan Hands - Secretary Mrs Betty Georgeson - Resigned May 2023 Mrs Kathleen Hillyer Miss Maggie Holloway Mrs. Jean Stanley - Friendship Circle Secretary Mrs Marilyn Tempest Mrs Eileen Wolstencroft - Resigned May 2023 Mrs Gail Patterson - (from 31.08.2023) Mrs Kathy O'Malley - (from 31.08.2023) Mrs Vicky Fielder - (from May 2023)
Activities and Achievements:
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Solihull W.I. has 49 full members. We are a member of West Midlands Federation of Woman's Institute (WMFWI), and the National Federation of Women's Institute (NFWI).
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Monthly meetings were held with a variety of speakers during the year.
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The President's Lunch in March, Summer Lunch in July and Christmas Lunch in November were all enjoyed by the members and a summer outing was organised to Trentham Gardens.
Our Hall is owned by our Institute in the names of four Custodian Trustees: Mrs. Olwyn Hyatt, Mrs Susan Hands, Mrs Angela Mason and Mrs Gail Patterson.
The Trustees have approved the Trustees’ Report above.
Signed:
Mrs Jean Jones - President Date:
Page 2
INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF SOLIHULL WOMEN'S INSTITUTE
YEAR ENDED 31 DECEMBER 2023
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2023 which are set out on pages 4 - 9.
Respective responsibilities of trustees and examiner
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the 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.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do 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.
Paul Mannion FCA FCCA (Senior Statutory Auditor) for and on behalf of BK Plus Limited Chartered Certified Accountants and Statutory Auditor 2 Highlands Court Cranmore Avenue Solihull West Midlands B90 4LE
Page 3
SOLIHULL WOMEN'S INSTITUTE INCOME AND EXPENDITURE ACCOUNT
YEAR ENDED 31 DECEMBER 2023
| INCOME Notes Voluntary income Receipts at meetings Full and dual members subscriptions Publications Diaries Main Committee Activities: - Donations / Grant received from Federation - Christmas lunch - Summer lunch Miscellaneous WI Outings - Outing to Trentham Gardens Bulbs Federation events NFWI Raffle ACWW / 200 Lottery Gift Aid receivable Interest Receivable National savings bond COIF primary account Brewin Dolphin Account Dividend Income Hall Income 6 TOTAL INCOME |
£ £ 195 2,254 2,449 - - 200 727 276 1,203 441 19 329 - 30 124 943 151 276 146 573 7,183 47,972 60,323 Year ended 31.12.23 |
£ £ 125 2,299 2,424 48 48 - - 282 282 - 57 248 90 - 113 508 39 74 2,531 2,644 3,429 36,487 45,822 Year ended 31.12.22 |
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Page 4
SOLIHULL WOMEN'S INSTITUTE INCOME AND EXPENDITURE ACCOUNT (CONTINUED)
YEAR ENDED 31 DECEMBER 2023
| EXPENDITURE Notes Meetings Speakers & meeting expenses Stationery, stamps and telephone Web site costs Payments to county and national federations County affiliation fees National affiliation fees Pooling of fares national and county Publications Diaries Main Committee Activities: - Winter Lunch / Centenary Celebrations - Summer Lunch Miscellaneous Expenses WI Events Bulbs Federation events Gifts for 95th birthday celebrations NFWI raffle Bursaries Honours Board for Hall Professional fees Portfolio management fees Depreciation ACWW 200 Club Hall Expenses 6 TOTAL EXPENDITURE |
£ £ 762 384 40 1,186 497 580 48 1,125 - - 753 252 1,005 561 24 293 199 100 250 - 2,410 3,287 4,783 50 30 11,987 54,290 69,593 Year ended 31.12.23 |
£ £ 973 353 55 1,381 515 605 78 1,198 48 48 1,505 1,505 174 57 199 - 96 200 624 1,150 5,781 4,783 55 - 13,318 49,600 67,050 Year ended 31.12.22 |
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Page 5
SOLIHULL WOMEN'S INSTITUTE INCOME AND EXPENDITURE ACCOUNT (CONTINUED)
YEAR ENDED 31 DECEMBER 2023
| TOTAL INCOME TOTAL EXPENDITURE NET DEFICIT FOR THE PERIOD TOTAL GAINS AND LOSSES RECOGNISED SINCE THE LAST ANNUAL REPORT TOTAL FUND BROUGHT FORWARD TOTAL FUND CARRIED FORWARD GAIN/(LOSS) ON REVALUATION OF INVESTMENT ASSETS |
Year ended 31.12.23 £ 60,323 69,593 (9,270) 17,725 8,455 659,104 667,559 |
Year ended 31.12.22 £ 45,822 67,050 (21,228) (51,186) (72,414) 731,518 659,104 |
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Page 6
SOLIHULL WOMEN'S INSTITUTE STATEMENT OF ASSETS AND LIABILITIES
YEAR ENDED 31 DECEMBER 2023
| Notes Investment assets 2 Tangible assets 3 Freehold property Furniture and equipment Cash at hand and in bank NatWest Current account Lloyds TSB Hall account COIF primary account Cash in hand Debtors 4 Liabilities 5 TOTAL ASSETS LESS LIABILITIES Funds Unrestricted income funds TOTAL FUNDS |
31.12.23 £ £ 326,574 314,099 3,257 317,356 14,356 3,745 6,316 506 24,923 7,038 8,332 667,559 667,559 667,559 |
31.12.22 £ £ 319,807 317,949 4,191 322,140 9,266 3,016 6,040 150 18,472 5,644 6,959 659,104 659,104 659,104 |
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These financial statements were approved by the members of the committee on and are signed on their behalf by:
Mrs Jean Jones PRESIDENT
Page 7
SOLIHULL WOMEN'S INSTITUTE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023
1. ACCOUNTING POLICIES
Basis of accounting
The financial statements have been prepared using the accrual basis.
Fixed assets
All fixed assets are initially recorded at cost. Investments held as fixed assets are revalued at the date of year end and the gain or loss taken to the Income and Expenditure Account.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value over the useful economic life of that asset as follows:
Freehold property - 1% straight line Furniture and equipment - 10% straight line
Investments and investment income
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through the SOFA if the shares are publicly traded or their fair value can otherwise be measured reliably.
Investment income is accounted for in the period in which the Institute is entitled to receipt.
2. INVESTMENT
| National Savings Bond Brewin Dolphin Cash held in investment account Total 3. NON MONETARY ASSETS COST At 1 January 2023 Additions At 31 December 2023 DEPRECIATION At 1 January 2023 Charge for the period At 31 December 2023 NET BOOK VALUE At 31 December 2023 At 1 January 2023 |
£ £ 5,000 5,000 318,307 311,525 3,267 3,282 326,574 319,807 Freehold Furniture & Property Equipment £ £ 385,000 24,479 - 385,000 24,479 67,051 20,289 3,850 933 70,901 21,222 314,099 3,257 317,949 4,191 Market Value 31.12.23 31.12.22 |
Historical Cost £ 5,000 287,304 Total £ 409,479 - 409,479 87,340 4,783 92,123 317,356 322,140 |
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Page 8
SOLIHULL WOMEN'S INSTITUTE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023
4. DEBTORS
| Debtors Prepayments and accrued income 5. LIABILITIES Creditors Accruals 6. HALL ACCOUNT INCOME Hall lettings Car parking EXPENSES PRS Electricity Gas Water Telephone Rates Insurance Hall Manager Repairs and maintenance Cleaning & gardening Hall accounts Car parking services NET SURPLUS / (DEFICIT) |
£ 3,080 3,958 7,038 £ 3,418 4,914 8,332 £ 47,972 47,972 1,103 6,485 952 1,423 713 1,094 2,402 22,236 5,687 4,991 600 6,604 54,290 (6,318) 31.12.23 31.12.23 31.12.23 |
£ 2,703 2,941 5,644 £ 3,916 3,043 6,959 £ 35,807 680 36,487 500 4,147 1,349 1,166 1,141 855 2,426 21,276 3,129 5,139 600 7,871 49,599 (13,112) 31.12.22 31.12.22 31.12.22 |
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