Charity registratlon number: 501389 Ceredigion Federation of Women's Institutes Annual Report and Financial Statements for the Year Ended 30 June 2024 PJE Accountants & Advlsors 23 College Street Lampeter Ceredigion SM8 7DY
Ceredlglon Federation of Women's Instltutes Contents (continued) Reference and Adminlstrative Detalls Trustees, Report 2to4 Statemeht of Trustees, Responslbllitles Independent Examlner's Report Statement of Flnanclal Actlvitles 7t08 Balance Sheet Notes to the Flnanclal Statements IOto17
Ceredlglon Federatlon of Women's Instltutes Reference and Adminlstratlve Detalls Secrelary Mlss Elrwen James - Secretary Other Officers Mrs Carol Evans- Treasurer Mrs Gay Evans- Chair Prlnclpal Offlce 11 Cambrlan Place AberystvJyth Ceredl8ion SY23 INT Charlty Re8lstratlon Number 501389 Independent Examlner PJE Accountants & Advlsors 23 College Street Lampeter Ceredlglon SA48 7DY Page I
FFEDERASIWN SEFYDLIAD Y MERCHED CEREDIGION FEDERATION OF WOMEN'S INSTITUTES laffilialed lo the Nalion81 Fodeiats'on ol Women's Inslilule$J) Registered Charlty Number: 501389 Trustees Annual Report and Financial Statement 2023-2024 The Trustees of Cereduion Federation of Wls have offered a variety of actrvilies t o a I l its me m bers across the county over the lasl year. The outcom8s of the Federation's SWOT analysis session is regularly revisited and influences the focus of all aspects of our Wl life. Wl Advisers visit each Wl in the Federation offering advice and assistance. Monthly digital and paper copy newsletters are sent to all 38 Wls in order to keep up to date with aclivilies. A monthly review of our financial position is held at the monthly meeting of the Board of Trustees, with discussion of income and expenditure. Quarterly Office and Finance Meetings focus on the accounts and best practice. The Board of Trustees consults regularly with CAVO our county link with grant providers and NFWI Wales in order to acquire small grants for workshops and projects. The unr8Stricted reserves of Ihe Federation are kept at a level which would enable the Federation to continue operating in its present way for one year, together with a small reserve for other urgent purposes. The Federatlon holds the freehold property for Ein Swyddfa, 11 Cambrian Place, Aberystwth. The property is kept in good order and some work has been prioritised. Designated Funds are Mildred Jowitt (interest) for training, Property Maintenance (for upkeep of Ein Swyddfa). Pooling of Costs (for NFWI AGM), Events (for Royal Welsh Show). Our restricted reserves include the Mildred Jowitt Bond, the interest from which is designated for training. Other restricted reserves are Eleanor James Bursary (for Denman), KP Davieslmadge Collins (training and Denman) and Suspended Wls (restricted for 3 years after closure). We still await details from NFWI regarding the future application of 'Denman Monies,. Many of our members have attended on-line 'Denman at Home, courses. We continue to seek overnight opportunities and workshops to satisfy the needs and skill focus of our members. Membership is currently 620 members with 38 Wls in total. We have seen the opening of Ystwyth Belles Wl and a Virtual Ceredigion Federation based Wl is underway. Exciting times ahead. Wl Advisers continue their busy schedule of attending Annual Meetings and ordinary meetings. Judith Watson qLJalified as Wl Adviser this year, bringing our number up to five. The main promotKinal focus this year was in pparatIOn for the Ceredigion hosting of the NFWI stand at the Royal Welsh Show in Llanelwedd, Builth Wells in 2024.
The Federation has supported NFWI and NFWI-Wales, organising a coach to attend a one day visit to the Wales Conference Brecon and a two evening stay in London for the Annual Meeting held at the Royal Albert Hall. A full complement of delegates and observers attended the Conference which was based on the domestic violence theme. A relaxing theatre experience and a stop in Windsor on our return journey was enjoyed by all. The conferences were available in virtual form for those not travelling. Mrs. Ann Jones, Ceredigion Federation Wl Adviser came to the end of her service as Chairman of NFWI for England, Wales and the Islands this year. Our members have shown their support to Ann Jones in all that she has done for the Wl in this role. The Chairman of Ceredigion Federation attends the Federation of Walos Committee Meetings. CFWI branding has helped raise the profile of our Federation and the presence of our Chair at varied publlc events helps offer the Wl a modern image. The Membership Committee arranged the Annual Council Meeting in November 2023 at the Morlan Centre, Aberystwyth, where the main speaker was our MP sharing his experiences in the House of Commons. This was followed by a local produce Cheese and Gin Tasting. Promotional activities display the Wl in the besl light possible and encourages participation. The presentations in the Resolutions Discussion Meetlng was transferred to the members this year, which proved to be a great success. The resolution focusing on Dental Health was adopted by NFWI as a project to be pursued. The Spring Group Meeting brought all four groups together for a Line Dancing experience. Our training days thls year were held in smaller workshops which were a greal success. The Public Affairs sub-committee hosted the CFWI Quiz and the Inter Federation General Knowledge Quiz and Treasure Hunt. The White Ribbon Vigil involves members in raising awareness of domestic abuse and raising funds to help the work of related charlties. Various campaigns within the aims and objectives of NFWI are discussed and events held to raise awareness of climate change and other topical subjects withln the remit of Ihe Wl constitution. The Creative Skills sub-committee arranged an excellent Autumn and Sprlng Rally in 2023124 with a growing number of co-operative entries. The Ceredlgion entry came first In the Brecon Cup floral arrangement competition in the Royal Welsh Show 2023. The 'Craftathon' sessions held in the North and South of the county were a great success. The committee always manages to offer a new craft to fulfill the members, expectations. The Trustees and Committees have worked very hard to raise the profile of the Wl in CeredigSon. On a local, County, Welsh and NFWI level the Wl is here to inspire, Signed........... Chair Date.......... Signed...... . Federation Secretary Date...a...
Ceyediglon Federation of Women's Instltutes Trustees, Report (contlnued) The annual report was approved by the trustees ofthe charltyon...... nd sl8ned on its behalf bv., Mlss Elrwen James- Secretary Mrs Gay Evans- Chalr Board of Trustees 2023-2024: Chair: Mr5 Gay Evans Vice Chalrs,. Mrs Judith Watson, Mrs Elizabeth Walker. Treasurer: Mrs Carol Evans. Board of Trustees: Mrs Monica Rose, Mrs Ar)ne Geor8e, Mrs Ann Perklns. Mrs Dinah Glbbons, Mrs Judy Lile, Mrs Mar8aret Peel. Federatlon Secretary: Mlss Elrwen James. Page 4
Ceredlglon Federation of Women's Instltutes Statement of Trustees. Responsibllitles The trustees are responslble for preparin8 the trustees, report and the financial statements in accordance with the United Kingdom Accountlng Standards (United Kingdom Generally Accepted Accounting Practlce) and applicable law and regulations. The law appllcable to charilies requires the trustees to prepare financial statement5 for each financial year which glve a true and falr view of the stale of affatrs of the charity ènd of the incoming resources and application of resources of the charity for that perlod. In preparlng these Ilnanclal ststements, the Irijstees are required to: select sultable accountlng polKie5 and then apply Ihem conslstently; observe the methods and prlnclples in the Charlties SORP; make jud8ements and e5tlmates that are reasonable and prudent; state whether appllcable atcounting standards have been followed, 5ublect to any material departures disclosed and explalned In the financial statements; and prepare the flnanclal statements on the golng concern basls unless it15 Inappropilate to presume that the charity wlll continue In buslness, The trustees are responsible for keepin8 proper accountlng records that dlsclose wtth reasonable accuracy at any time the flnanclal positlon of the charlty and enable them to ensure that the financlal statements comply wlth the Charltles Act 2011, the appllcable Charltles (Accounts and Reports) Regulatlons, and the provlslons of the constitution. The trustees are also responsible for safeguardlng the assets of the charlty and hence for taking reasonable steps for the preventlon and detection of fraud and other Iiregularitie5. Approved by the trustees of the charity on OJ 2.4and signed on Its behalf by: Mlss Elrwen James - Secretary vo/Jd. Mrs Gay Evans - Chalr Page 5
Ceredlglon Federation of Women's Instltutes Independent Examlner's Report to the trustees of Ceredlglon Federation of Women's Institutes I report on the accounts of the charity for the year Énded 30 June 2024 whlch are set out on pages 7 to 16. Respectlve responslbllltle5 of trustees and e¥amlner The trustees are responslble for the preparation of the accounts. The trustees conslder that an audit Is not requlred for thls year under section 144(2) of the CharStles Act 2011 (the 2011 Act) and that an Independent examlnatlon Is needed. It is my responsibility to: examlne the accounts under sectlon 145 of the 2011 Act. to follow the procedures lald down In the general Directlons 8lven by the Charity Commlssion under sectlon 145{51(bl of the 2011 Act. and to state whether partlcular matters have come to my attentlon. B051s of Independent examlnerfs report My examination was carried out In accordance with the 8eneral Dlrecllons glven by the Charlty Commlsslon. An examlnatlon Includes a revlew of the ac¢ountln8 records kept by the charlty and a comparlson of the accounts presented with those records. It also Includes conslderatlon of any unusual Items or dlsclosures In the accounts, and seeklng explanations from you as trustees concernin8 any such matters. The procedures undertaken do not provide all the evldence that would be required In an audit and consequently no oplnlon Is glven as to whether the accounts present a 'true and falr vlev/ and the report Is Ilmlted to those matters set out In the next Statement. Independent examlner's statement In connection wlth my examlnatlon, no matter has come to my attentlon: (l) whlch glves me reasonable cause to belleve that In any material rÈspect the requlrements: to keep accountlng records In accordance wlth sectlon 130 of the Charltles Act 2011; and to prepère attounts whlch accoid with Ihe accountln8 records and Comply wlth the accountlng requlrements of the 2011 Act have not been met; or (2) to which, In my oplnlon, attentlon should be drawn In order to enable a proper understanding of the accounts to be reached. 23 College Street Lampeter Ceredl8lon SA48 7DY Date: Page 6
Ceredlglon Federatlon of Women's Institutes statement of Financlal ActTvltles for the Year Ended 30 June 2024 Unrestrlrted funds Total 2024 Deslgnated Geneial Restrlcted funds Note Income and Endowments from: Charltable actlvities 16,405 19,730 753 36,135 809 Investment Income 56 Total Income 16,405 20.483 56 36,944 Expendlture on: Charltable actlvltles 19,029 (24.527) 552 44,1081 Total Expenditure 19.029 {24,527 5521 {44,108) Net Income Gross transfers between funds (2,6241 13,644 (4,044) 21,3021 (4961 7,658 {7.1641 Net movement In funds 11,020 (25,346) 7.162 17,164) Reconclllatlon of fund5 Total funds brou8ht forward 57,476 30,361 87,837 Total funds carrled forward 11,020 32,130 37,523 80.673 Page 7
Cerediglon Federatlon of Women's Instltutes Statement of Flnancial Actlvlties forthe Year Ended 30 June 2024 (contlnued) Unrestrfrted funds Total 2023 Deslgnated General Restrlcted funds Note Income and Endowments from: Charitable actlvltles 29,486 131 29,486 131 Investment income Total Income 29,617 29,617 Expendlture on: Charitable actlvltles 29.324) 29,324> Total Expendlture 29.324) 29,324 Net incomellexpenditurel Gross transfers between funds 293 293 386 386 Net movement In fund5 679 1386) 293 Reconclllallon of funds Total funds brou8ht forward 56,797 30,747 87,544 Total funds carrled fOard 57,476 30,361 87,837 Page 8
Ceredlglon Federatlon of Women's Institutes (Registratlon number: 501389) Balance Sheet as at 30 June 2024 2024 2023 Note Current assets Cash at bank and In hand Debtors 80,673 87,772 65 Credltors.. Amounts falllng due wlthln one year Net assets 80,673 87,837 Funds of the charlty: Restrltted funds 37,523 30,361 Unrestrl¢ted Income lunds Deslgnated General 11,020 32,130 57,476 Total funds 80,673 87,837 The fin nclal Statements on pages 7 to 17 were approved by the trustees, and authoilsed for Issue on . and signed on thelr behalf by: Mrs Gay Evans- Chalr Page 9
Cerediglon Federation of Women's Institutes Notes to the Flnanclal Statements for the Year Ended 30 June 2024 l Aceounllng pollcles Statement of ¢ompllante The financlal statements have been prepared In accordance wlth Accounting and Reportlng by CharitSes: Stalement of Recommended Practice appllcablÈ to charities preparln8 thelr accounts In accordance wilh the Financial Reportlng Standard appllcable in the UK and Republic of Ireland {FRS 1021 (effective l January 2015) (Charities SORP IFRS 10211, the Flnanclal Reporting Standard applicable in the UK and Republlc of Ireland {FRS 102) and the Charitles Act 2011. Basls of preparatlon Ceiedlglon Federatlon of Women's Instlttstes meets Ihe definition of a public beneflt entity under FRS 102. Assets and Ilabllitles are Initlally reco8nlsed at hlstorical cost or transactlon value unless otherwise stated in the relevant account¢ng pollcy notes. Exemptlon from preparlng a tash flow statement The charlty opted to early adopt Bulletln I published on 2 February 2016 and have therefore not Included a ash flow statement In these flnanclal statements, Golng concern The trustees conslder that there are no materlal uncertalnlles about the charlty'5 abllity to contlnue as a golng concern. Income and endowments Inve$tment Income Olvldends are reco8nlsed once the dividend has been declared and notlflcation has been recelved of the d5vldend due, Expendlture All expendlture Is recognlsed once there Is a lÈgal or constructlve obll8atlon to Ihat expendlture, it is probable settlement Is required and the amount can be measured rellably. All costs are allocated to the applicable expendlture headln8 that a8gregate slmilar costs to thaf category. Where costs cannot be directly attributed to partlcular headin8S, they have been allocated on a basls conslstent wtth the use of resources. wlth central staff costs allocated on the basls of time spent. and depreclatlon charges allocated on the portlon of the asseys use. Other support costs are allocated based on the spread of staff costs. Charltable urtlvltles Charltable expendlture comprlses those costs incurred by the charlty In the delSvery of Its activltles and Services for Its beneficlaries. It includes both costs that can be allocated directly to suth activlties and those costs of an Indirect nature necessary to support them. Page 10
Ceredlgion Federatlon of Women's Institutes Notes to the Flnanclal Statements for the Year Ended 30 June 20241continued) l Accountlng pollcles (contlnuedl Governance costs These include the costs attribulable to the thariV5 compliance wlth constltutlonal and statutory requlrements, Including audlL strategic management and trustee's meetings and reimbursed expense5. Taxatlon The charity Is considered to pass the tests set otst in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax PUTposes. Accordingly, the Charity Ss potentlally exempt from taxation In respect of 5ncome or capital galns recelved wlthin cate8ories covered by Chapter 3 Part 11 of the Corporatlon Tax Act 2010 or Section 256 of the Taxatlon of Chargeable Galns Act 1992, to the extent that such income or 8alns are applied exclusively to charitable purposes. Cash and cash equlvalents Cash and cash equlvalents comprise cash on hand and tall deposit5, and other short-term hi8hly Ilqutd investments that are readily convertlble to a known amount of cash and are subject to an Inslgnificant rlsk of change In value. Trade ¢redltors Are obllgations to pay for goods or servlces that have been acqulred in the ordlnary course of buslness from suppllers. Accounts payable are classified as current Ilabllltles if the does not have an uncondltional rl8ht, at the end of the reportlng period, to defer settlement of the credltor for at least twelve months after the reportlng date. If there Is an uncondlllonal right to defer seltlement for at least twelve months after the reportlng date, they are presented as non<urrent liabilitles. Are reco8nlsed Initlally at the transaction prlce and subsequently measured at amortlsed cost usln8 the effective interest method. Borrowln8S Interest.bearlng boTrowlngs are initially recorded at fair value. net of transartion cosls. Interest-bearlng borrowln8s are subsequently carried at amortised cost. with the dIfferen between the proceeds. net of tran5actlon costs, and the amount due on redemption beln8 reco8nlsed as a charge to the Statement of Financlal Activltles over the perlod of the relevant bOrrOn8. Interest expense is reco8nlsed on the basls of the effective Interest method and 15 Included in Interest payable and slmllar charges. BoTrowings are classlfied as current Ilablllties tsnless the charity has an uncondltlonal ri8ht to defer settlement of the liability for at least twelve months after the reporting date. Fund structure Unrestricted Income funds are Eeneial fund5 that are available for use at the tfustee's discretion in furtherance of the objectives of the charity. Designated funds are unrestrlcted funds set aside for specific purposes at the discretion of the trustee5. Page 11
Ceredlglon Federatlon of Women's Instltutes Notes to the Financial Statements for the Year Ended 30 June 2024 (continued) l A¢countlng pollcles ltontlnued) Restricted income funds are those donated for use in a par Ilcular area or for specific purpose5, the use of which is restricted to that area or purpose. Flnanclal Instruments Clussmlcotlon Flnanclal assets and flnanclal liabllltles are recognised when the charlty becomes a party to the contractual provision5 of the Instrument. Financial Ilabllitles and equlty Instruments are classified according to the Substan of the contractual arrangements entered into. An equity instrument is any contratt that evidences a resldtsal interest In Ihe assets of the charlty after deductln8 all of its Ilabllitles. Recognltlon ond meosurement All financlal assets and Ilabllities are Initially measured at tfansactlon prlce {Includln8 transactlon costs}. except for those flnanclal assets classified as at falr value through profit or loss, whSch are Ini1Sally measured at fair value Iwhlch Is normally the tfansactlon prlce excluding transaction costs), unless the arrangement constltutes a flnanclng transaction. If an arfangement constltutes a flnancln8 transactlon, the financlal asset or financial liability Is measured at the present value of the future payments discounted at a market rate of Interest for a slmilar debt Instrument, Financlal a55ets and liabilities are only offset in the statement of linancial position when, and only when there exists a legally enforceable right to set off the reco8nSsed amounts and the charity intends either to settle on a net basis, or to reallse the asset and 5etile the liability slmultaneously. Financlal assets are derecognlsed when and only when al the contractual rights to the cash flows from the financial asset explre or are settled. b} the charity transfers to another party substafttlally all of the risks and rewards of ownershlp of the financial asset, OT c} the charity, despite having retalned some, but not all, 518nificant rlsks and rewards of owneTshlp, has tfansferred control of the asset to another party. Flnanclal liabllities are derecognlsed only when the obligation specified in the contract Is dlscharged, cancelled or expires. Page 12
Ceredigion Federation of Women's Instltutes Notes to the Flnanclal Statements for the Year Ended 30 June 2024 {continued) l Accountlng pollcles Icontlnued) Debt Instruments Debt instruments which meet the following conditions are subsequently measured at amortlsed cost usin8 the effective interest method: la) The contractual return to the holder Is11) a fixed amount; (il) a posltlve flxed fate or a posltlve varlable rate; or11111 a comblnalion of a positive or a negatlve fixed rate and a posltlve varlable rate. Ib) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inllation of the currency in which the debt Instrument Is denomlnated, provided such links are not leveraged. {cl The contract may provlde for a determinable variation of the return to the holder during the Ilfe of the Instrumenti provided that {il the new rate satisfies condllion lal and the varlalion is not contin8enl on future events other than {11 a change of a contractual varlable rate; (2) to protect the holder agalnst credlt deterloration of the Issuer'13) changes In levles applled by a central bank or arlsln£ from changes in relevant taxatlon or law,. or (511 the new rate Is a market rate of Interest and satlsfies conditlon la). {d) There Is no contractual provlslon that could, by Its terms, result In the holder loslng the prlnclpal amount or any Interest attributable to the current period or prior perlods. {el Contractual provlsions that permit the issuer to prepay a debt instrument or permlt the holder to put It back to the Issuer before maturlty are not contin8ent on future events, other than to protect the holder a8alnst the credit deterioration of the issuel or a change in control of the Issuer, or to protect the holder or issuer against changes in levies applled by a central bank or arisln8 from changes Sn relevant taxatlon or law. (fl Contractual prov15ions may permit the extension of the term of the debt Instrument, provlded that the return to the holder and any other contractual provislons appllcable durin8 the extended term satlsfy the tondltions of paragraphs {a) to Icl. Debt Instruments that are cla551fied as payable or receivable wlthin one year on initial recognitlon and which meet the above condltlons are measufed at the undiscounted amount of the cash or other conslderatlon expected to be paid or received, net of impairment. With the exceptlon of some hedgin8 instruments, other debt Instruments not meeting these conditions are measured at fair value throu8h profit or loss. Commitments to make and recelve loans whlch meet the tondltlons mentloned above are measured at cost Iwhich may be nll) less Impalrment. Page 13
Ceredigion Federatlon of Women's Institutes Notes to the Financlal Statements for the Year Ended 30 June 2024 (contlnued) l Actountlng pollcles (contlnued) Investment5 Investments in non-convertible preference shares and non-puttable ordinary or Preferen shares (where shares are publicly traded or their falr value Is reliably measurable) are measured at fair value through profit or loss. Where falr value cannot be measured reliably, Investments are measured at C05l less Impairment, Investments Sn subsldiaries and assoclates are measured at Cost less impairment. For Investments In sub51dlarles acquired for consideration Includlng the Issue of shares qualifying for mer8er rellef, cost Is measured by reference to the nomlnal value of the shares Issued plus fair value of other consideration. Any premium Is ignored. DerlvatlveAlnanclal Instruments The chaf Itv uses derlvatlve ftnanclal instruments to reduce exposure to foreign exchange risk and Interest rate movements. The ¢har•ty does not hold or Issue derlvatlve financlal Instruments for speculatlve purposes. Derlvatives are initlally reco8nSsed at falr value at the date a derlvatlve contract Is entered Into and are subsequently remeasured to thelr fair value at each reportlng date. The resultin8 gain or loss Is reco8nlsed In Statement of financlal activities Immediately unless the derivatlve is designated and effectlve as a hedglng Instrument, in which event the timing of the weco8nltlon in statement of financial actlvltles depends on the nature of the hedge relationship, Falr value measurement The best evidence of falr value Is a quoted prlce for an Identical asset in an acllve market. When quoted prices are unavallable, the price of a recent transaction for an identlcal asset provides evidence of fair value as long as there has not been a slgnlflcant change In economlc clrcumstances or a signlficant lapse of tlme slnce the transaction took place. If the market Is not actlve and fecent transactions of an Identlcal asset on their own are not a good estimate of fair value, the fair value Is estimated by usln8 a valuation technlque. 2 Income from tharltable actlvltles Unreslrlrted funds Total 2024 Total 2023 Desl8nated General 16.405 19,730 36.135 29,486 Page 14
Ceredlglon Federatlon of Women's Institutes Notes to the Financial Statement5 forthe Year Ended 30 June 2024 (contlnued) 3 Investment Income Unrestrlrted funds Total 2024 Total 2023 General Restrlrted funds Interest receivable and similar income; Interest receivable on bank deposits 753 56 809 131 Analysls of 8overnance and support costs Governance costs Unrestrlcted funds Total 2024 Total 2023 General Audlt fees Other fees pald to audltors OtheT governance costs 600 4,029 4.699 600 852 4.029 4,699 3,247 4,099 Trustees remuneratlon and expenses No trustees, nor any persons connerted wlth Ihem. have reIVed any remuneration from the chailty durln8 the year. Taxatlon The charity is a reglstered charlty and Is Iherefoie exempt from taxation. Page 15
Cerediglon Federatlon of Women's Institutes Notes to the Flnanclal Statements for the Year Ended 30 June 2024 (contlnued) 7 Funds Balance at i July 2023 Incomln8 resources Resources expended 8alance at 30 June 2024 Transfers Unrestrlcted funds Geneiol Current account 57,476 57.476 20.483 20.483 (24,527) (24,527 21,302} (21,302 32,130 32.130 Total 8eneral funds Deslgnated Mlldred Jowltt Bursary {Interest} Property malntenance account Poolln8 of costs actount Events 308 (1141 808 1,002 5,066 3,072 1,880 11.020 1.017 11,880 3,200 16,405 4,049 5,644 3,143 13,644 (14,4521 (4.463) 119,029) Total desl8nated funds Total unre5trlcted funds 57,476 36.888 (43.556 17,658) 43,150 Restrl¢ted funds Madge Collins and KP Davles 8ursary Suspended Wl account Eleanorjames 7,300 722 7.357 447 {552) 277 7,380 7.380 22,339 Mlldfed Jowltt Bursary {Capltal) 22.339 Total restrlcted funds 30,361 56 1552 7,658 37,523 Total funds 87,837 36,944 144,108} 80.673 Paee 16
Ceredlglon Federatlon of Women's Institutes Notes to the Flnancial Statements for the Year Ended 30 June 2024 (contSnued) 8 Anaty515 of net assets between funds Unreslflrted funds General Deslgnated Restrlcted funds Total funds Current assets Current Ilabllltles 32,130 11,020 37,523 80.673 Total net assets 32,130 11,020 37.523 80,673 9 Analysls of net funds At lJuly2023 Cash flow At 30June 2024 Cash at bank and In hand 87,772 17,0991 80,673 Net debt 87,772 {7,0991 80,673 10 NFWI Subscrlptlon Share5 Under new terms Issued by the NFWI Ihe federatlon15 now actln8 as a8ent In respect of the NFWI subscrlptlon shares collected and paSd on behalf of the NFWI and, accordingly. Ihese amounts are no longer shown as income and expendlture of the fedeTatlon. The amounts of subscriptlons collected and paid on to the NFWI In the year are summarlsed below. 2024 2023 NFWI Subscrlptlons Poollng of Fares 8,684 608 9,292 8,8SO 8,850 Page 17