Reply to: Sleaford Your Ref: Our Ref: JPS/EEH Lincolnshire South Federation of Women’s Institutes WI Office Suite &.7a & 8 Pattinson House Oak Road East Road Trading Estate Sleaford NG34 7EQ **YOUR OFFICE** 29 February 2024 **Sleaford** Dear Elizabeth Northgate House Northgate Sleaford NG34 7BZ **Lincolnshire South Federation of Women’s Institutes - Accounts for the year ended 31** T: 01529 415500 **October 2023 OUR OTHER OFFICES Gainsborough** Following the finalisation of the accounts please find enclosed accounts for signature in respect of Office 1 Engine House the year ended 31 October 2023. Marshall's Yard Gainsborough DN21 2NA T: 01427 611296 Kind regards. **Lincoln** 15 Newland Lincoln LN1 1XG Yours sincerely T: 01522 531341 registered office **London** Number 11 6 Pear Tree Court London EC1R 0DW T: 020 7229 4362 **James Sewell BA (Hons) MBA FCA CTA CMgr FCMI Mansfield** _Director_ 25 Brunts Street Mansfield NG18 1AX T: 01623 624494 Enc **Newark** Morton House 12 Appleton Gate Newark NG24 1JY T: 01636 702100 **Nottingham** Alexandra House 43 Alexandra Street Nottingham NG5 1AY T: 0115 962 1590 **Retford** Chancery Court 34 West Street Retford DN22 6ES T: 01777 707373 action@wrightvigar.co.uk www.wrightvigar.co.uk Wright Vigar Ltd. Company no. 4521280 Registered in England VAT no. 829 0252 35 Registered to carry out audit work in the UK and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales. ICAEW No. C001076671 **REGISTERED CHARITY NUMBER: 506268** ## **Report of the Trustees and** **Unaudited Financial Statements** **for the Year Ended 31 October 2023** **for Lincolnshire South Federation of Women's Institutes** Wright Vigar Limited Chartered Accountants & Business Advisers Northgate House Northgate Sleaford Lincolnshire NG34 7BZ **Lincolnshire South Federation of Women's Institutes** ## **Contents of the Financial Statements for the Year Ended 31 October 2023** |||**Page**|| |---|---|---|---| |**Reference and Administrative Details**||1|| |**Report of the Trustees**|2|to|4| |**Independent Examiner's Report**||5|| |**Statement of Financial Activities**||6|| |**Balance Sheet**||7|| |**Notes to the Financial Statements**|8|to|14| |**Detailed Statement of Financial Activities**|15|to|16| **Lincolnshire South Federation of Women's Institutes** **Reference and Administrative Details for the Year Ended 31 October 2023** **TRUSTEES** Mrs S BROTHERHOOD Trustee Mrs S COATES Trustee Mrs C JORDAN Trustee Mrs J JUKES Trustee Mrs K ORANGE Trustee - Federation Chair Mrs E MANTLE Trustee - Federation Treasurer Mrs E McINTOSH Trustee Mrs L READ Trustee - Co-opted June 2023 (appointed 6.6.23) Mrs S SANG Trustee Mrs D SIDDLE Trustee - Co-opted June 2023 (appointed 6.6.23) Mrs R SNEATH Trustee Mrs J TUNALEY Trustee **PRINCIPAL ADDRESS** WI Office, Pattinson House, Oak Road East Road Trading Estate Sleaford Lincolnshire NG34 7EQ **REGISTERED CHARITY NUMBER** 506268 **INDEPENDENT EXAMINER** Wright Vigar Limited Chartered Accountants & Business Advisers Northgate House Northgate Sleaford Lincolnshire NG34 7BZ **SOLICITORS** The Ringrose Law Group Endeavour House, Gilbert Drive, Boston PE21 7TR Page 1 **Lincolnshire South Federation of Women's** **Institutes** ## **Report of the Trustees for the Year Ended 31 October 2023** The trustees present their report with the financial statements of the charity for the year ended 31 October 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** In line with the Charitable Objects of the National Federation of Women's Institutes (NFWI), these are: 1. To advance the education of women and girls for the public benefit in all areas, including political and social issues, cultural subjects such as music and drama, areas of interest such as agriculture, crafts, home economics, science, and health. 2. To promote sustainable development which meets the needs of future generations without compromising those of the present by educating people in the conservation of the environment and the responsible use of natural resources and promoting sustainable economic growth. 3. To advance public health. 4. To advance public citizenship by promoting civic responsibility and volunteering. ## **Public benefit** The charity aims to fulfil the aims and objectives of the Women's Institute organisation. The trustees confirm that they have referred to the Charity Commission's general guidance on public benefit when reviewing aims and objectives and in planning future activities. ## **ACHIEVEMENT AND PERFORMANCE** ## **Report of the Board of Trustees** The Board of Trustees met on 11 occasions during the past year. This year the Federation Annual Meeting, held in March, was held at the Olde Barn in Marston. This was our first in person meeting since the lifting of all Covid restrictions. All necessary business was completed successfully. The meeting celebrated those WIs with notable anniversaries. We were fortunate to have two speakers at this event, Frances Carlaw, known as 'The Pearl Lady', and Alysia Vasey, 'The Yorkshire Forager'. In June, both Louise Read and Diane Siddle were co-opted to the Board of Trustees. The Chair and trustees have attended other Federation annual meetings in person. An Inter-Federation meeting, hosted by Lincolnshire South, with Lincolnshire North and Lincolnshire Humber, was held in September 2023. This was well attended, with historian Judi Jones speaking on 'The Lincolnshire Uprising' in the morning and, in the afternoon, singers Nigel & Teri singing Lincolnshire based songs. Officers of the Federation, or their representatives, have attended the National Council virtual meetings with the National Board, staff, and officers of all Federations to discuss the future plans for all and in particular training of Officers and WI Advisers. The NFWI Annual Meeting took place in May in Cardiff with 16 LSFWI members attending. The meeting was deemed successful with a very lively debate concerning the proposed resolution. Usual fundraising events took place throughout the year, including Woodhall Spa Country Show, Lincolnshire Show and RAF Digby Families Day. These events raise much needed funding for the Federation. The Lincolnshire Show was again held jointly with Lincolnshire North Federation. Sadly, on 8 September 2022, HM The Queen died. A member and great stalwart of the WI, she will be greatly missed by all members. Upon her passing, her eldest son, HRH Prince Charles, succeeded her as monarch and on 6 May 2023 he was crowned King Charles III. This was a momentous occasion and a cause for celebration. Over the year we have opened one new WI, and sadly, suspended three. This means we have 55 WIs throughout Lincolnshire South Federation. Our current membership stands at 1,741 up from 1,700 in 2022.. Katrina Orange - Federation Chair Page 2 **Lincolnshire South Federation of Women's Institutes** ## **Report of the Trustees for the Year Ended 31 October 2023** ## **ACHIEVEMENT AND PERFORMANCE** ## **Report of the Members Advisory Committee** The Membership Advisory Committee consisted of six members, five WI Advisers and one ex-officio Trustee. Unfortunately, three of our Advisers have had to stand down for various reasons during the year. We wish them all well. This loss of WI advisers has curtailed some of our activities and sadly we are no longer able to visit WIs in person as often as we would wish. However, we continue to be contactable by telephone and email and remain willing to assist our WIs in any way we can. We have met on six occasions during the year, mostly on Zoom to save expenses on travelling to Sleaford. We have run training courses on Programme Planning, and one to one President, Secretary and Treasurer Training. We have held a Speaker's Corner event, introducing new speakers to the Federation, and have another planned for the coming year. The Resolutions were discussed at a lively meeting at Cranwell in January, and we held a very successful Afternoon Tea for Officers at Market Deeping, assisted by the Trustees, which proved very popular and will hopefully be repeated in the coming year. We formed a new WI in Sleaford in 2022, named The Joy of Sponge. Each of the Advisers has continued to support, encourage, and advise their groups of WIs throughout the year in person and by email and telephone. Marilyn Hood - Committee Chair ## **Report of the Public Affairs & Education Committee** We began the year with a lively Campaign Discussion Day held at Scredington Community Centre on 1st December. Our two speakers provided us with plenty of material for discussion and debate on, first, the campaign to address earlier diagnosis and greater awareness of ADHD in women and girls and, second, the disturbing issue of Modern Slavery, particularly as it affects our own region of Lincolnshire South but also, of course, more widely across the country. In March, an outing to the historic site of Cromford Mills in Derbyshire proved to be fascinating. After a visit to the Arkwright Experience in the old mill itself and learning about the birth of the modern factory system, members chose to enjoy either a visit to White Peak Distillery, at the old Wire Works along the road, or to participate in a craft activity run by Sarah Wheatley. Sarah runs her own craft shop on the Cromford Mills site and gained her Masters degree at the Royal Academy. Great fun was had by all those in the workshop, creating felted animals under Sarah's expert eye. White Peak Distillery had only recently released its first whisky and was already basking in well-deserved acclaim from the industry. During the three-year maturation period, sales of their own gin and rum maintained essential cash flow and had also gained an excellent reputation. Members were more than delighted to be able to taste all their products! A ladies' lunch was held in April with a return visit to Greetham Valley Golf Course, this time in bright sunshine rather than the torrential rain we had experienced previously. Following another delicious meal, our speaker, Aasiyah Joseph, gave us a most interesting and informative talk about her own "Journey to Islam". She shared many personal experiences and exploded several misconceptions about the Islamic faith. All in all, a most enjoyable and thought-provoking occasion. As we look ahead to another full year of events in the PA&E calendar, I would like to extend my thanks to my fellow committee members, Stephanie Balderson, Shelagh Coates and Jackie Jukes, for their unstinting and generous support and hard work throughout the year. Janis Tunaley - Committee Chair Page 3 **Lincolnshire South Federation of Women's Institutes** ## **Report of the Trustees for the Year Ended 31 October 2023** ## **ACHIEVEMENT AND PERFORMANCE** ## **Report of the Activities Committee** The team produced another successful series of activities during the 2022/2023 year including three oversubscribed events. November saw the first of these events with a visit to see an interpretation of the fairy tale story Cinderella at Belvoir Castle with over 100 members attending. Our quizzes have always been a firm favourite with WIs competing for the honour of winning the Quiz Cup for the team with the most points over the year. Quizzes were held in March at Rippingale with afternoon tea included, in June at Great Hale with a hot supper and in September at Scredington, again with afternoon tea included. June saw the second oversubscribed event - a two-hour trip (morning and afternoon) on the Grantham Canal with the Three Shires Boat, expanded to a further four days. The final oversubscribed event was the Croquet Taster Day sessions in September. Unfortunately this event was cancelled at the last minute due to heavy rain at the venue. However, members will have the opportunity of experiencing Croquet in May 2024 when two sessions have been arranged. The team continues to strive for experiences which may encourage members to take part and are conscious that many members are unable to attend some events due to work commitments. In light of this, three craft events for 2024 are planned to take place on Saturdays at our office in Sleaford. ## Christine Jordan - Committee Chair ## **Overall Conclusion on the Year** All activities organised by the Board of Trustees and their sub-committees have fulfilled the remit set out in our Constitution. To maintain contact and to help keep our presence in the public eye, our social media presence is continuing to evolve across all platforms. Our monthly newsletter is proving to be very popular, with regular contributions from WIs across the Federation. Although communications from both our own Federation and NFWI are now mostly digital, we continue to work closely with those WIs who have no access to digital resources to ensure they are kept fully updated with all communications. To ensure that our own costs are kept to a minimum, meetings of the Board of Trustees and sub-committees are held predominantly via on-line platforms. We aim to maintain rigorous support for our WIs and members in every way we can, now and in the future. Katrina Orange - Federation Chair ## **FINANCIAL REVIEW** ## **Reserves policy** The Federation requires reserves to allow it to continue work in connection with the promotion of the interests of women (as specified by the Federation Constitution) in the event of any unforeseen disruption to its income streams. The Trustees monitor this to ensure sufficient reserves are held and review the reserve policy annually. At the year end available reserves were £187,818 (2022:£184,257). ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The governing document for the charity is the Model Constitution and Rules for County Federation of Women's Institutes. This is lodged with The Charity Commission. ## **Risk management** The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. 05/03/2024 Approved by order of the board of trustees on ............................................. and signed on its behalf by: Katrina Orange ........................................................................ Katrina Orange (Mar 5, 2024 16:19 GMT) Mrs K ORANGE - Trustee Page 4 **Independent Examiner's Report to the Trustees of Lincolnshire South Federation of Women's Institutes** ## **Independent examiner's report to the trustees of Lincolnshire South Federation of Women's Institutes** I report to the charity trustees on my examination of the accounts of Lincolnshire South Federation of Women's Institutes (the Trust) for the year ended 31 October 2023. ## **Responsibilities and basis of report** As the charity trustees of the Trust 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 Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all 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: 1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or 3. 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. James Sewell BA(Hons) FCA CTA Wright Vigar Limited Chartered Accountants & Business Advisers Northgate House Northgate Sleaford Lincolnshire NG34 7BZ Date: ............................................. 05/03/2024 Page 5 **Lincolnshire South Federation of Women's Institutes** ## **Statement of Financial Activities for the Year Ended 31 October 2023** |**Unrestricted**
**fund**
**Notes**
**£**
**INCOME AND ENDOWMENTS**
**FROM**
Donations and legacies
50,372
**Charitable activities**
Supporting WI Branches
3,085
Other trading activities
2
34,813
Investment income
3
688
**Total**
88,958
**EXPENDITURE ON**
Raising funds
4
42,059
**Charitable activities**
Supporting WI Branches
43,660
**Total**
85,719
Net gains/(losses) on
investments
265
**NET INCOME/(EXPENDITURE)**
3,504
**RECONCILIATION OF FUNDS**
Total funds brought forward
179,343
**TOTAL FUNDS CARRIED**
**FORWARD**
182,847|**Restricted**
**Endowment**
**funds**
**fund**
**£**
**£**
-
-
-
-
-
-
57
-
57
-
-
-
-
-
-
-
-
-
57
-
4,914
-
4,971
-|**2023**
**Total**
**funds**
**£**
50,372
3,085
34,813
745
89,015
42,059
43,660
85,719
265
3,561
184,257
187,818|**2022**
**Total**
**funds**
**£**
44,768
10,653
11,290
6,160| |---|---|---|---| ||||72,871| ||||36,354
37,959| ||||74,313| ||||(16,629)| ||||(18,071)
202,328| ||||184,257| The notes form part of these financial statements Page 6 ## **Lincolnshire South Federation of Women's Institutes** ## **Balance Sheet** ## **31 October 2023** |**Unrestricted**
**fund**
**Notes**
**£**
**FIXED ASSETS**
Tangible assets
7
1,396
Investments
8
91,590
92,986
**CURRENT ASSETS**
Stocks
9
57
Debtors
10
1,920
Cash at bank and in hand
90,167
92,144
**CREDITORS**
Amounts falling due within one
year
11
(2,283)
**NET CURRENT ASSETS**
89,861
**TOTAL ASSETS LESS**
**CURRENT LIABILITIES**
182,847
**NET ASSETS**
182,847
**FUNDS**
12
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|**Restricted**
**Endowment**
**funds**
**fund**
**£**
**£**
-
-
-
-
-
-
-
-
-
-
4,971
-
4,971
-
-
-
4,971
-
4,971
-
4,971
-|**2023**
**Total**
**funds**
**£**
1,396
91,590
92,986
57
1,920
95,138
97,115
(2,283)
94,832
187,818
187,818
182,847
4,971
187,818|**2022**
**Total**
**funds**
**£**
1,642
91,982| |---|---|---|---| ||||93,624
47
2,183
90,529| ||||92,759
(2,126)| ||||90,633| ||||184,257| ||||184,257| ||||179,343
4,914| ||||184,257| The financial statements were approved by the Board of Trustees and authorised for issue on 05/03/2024 ............................................. and were signed on its behalf by: Katrina Orange Katrina Orange (Mar 5, 2024 16:19 GMT) ............................................. Mrs K ORANGE - Trustee ............................................. Mrs E MANTLE - Trustee The notes form part of these financial statements Page 7 **Lincolnshire South Federation of Women's Institutes** ## **Notes to the Financial Statements for the Year Ended 31 October 2023** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Fixtures and fittings - 15% on reducing balance Computer equipment - 15% on reducing balance ## **Stocks** Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can be used only for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Government grants** No Government grants were received during the period. In 2021 the company received Government grants due to the impact of Covid-19. These amounts were recognised using the accrual method and recognised in income on a systematic basis over the periods in which the charity recognises the related costs for which the grant is intended to compensate. Page 8 continued... **Lincolnshire South Federation of Women's Institutes** ## **Notes to the Financial Statements - continued for the Year Ended 31 October 2023** ## **2. OTHER TRADING ACTIVITIES** |**2.**|**OTHER TRADING ACTIVITIES**||| |---|---|---|---| |||**2023**|**2022**| |||**£**|**£**| ||Trading Income|3,693|3,343| ||Members Advisory Committee income|1,635|853| ||Board of Trustees Income|4,387|547| ||Take a Chance Club Income|665|745| ||Activities Committee income|4,912|305| ||Public Affairs and Education Committee income|4,300|4,667| ||Sundry Income and Reimbursements|230|620| ||Lincolnshire Show Income|14,991|210| |||34,813|11,290| |**3.**|**INVESTMENT INCOME**||| |||**2023**|**2022**| |||**£**|**£**| ||Deposit account interest|81|49| ||Investment income|664|6,111| |||745|6,160| |**4.**|**RAISING FUNDS**||| ||**Investment management costs**||| |||**2023**|**2022**| |||**£**|**£**| ||Portfolio management|1,320|1,423| ## **5. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 October 2023 nor for the year ended 31 October 2022. ## **Trustees' expenses** ||**Trustees' expenses**||| |---|---|---|---| |||**2023**|**2022**| |||**£**|**£**| ||Trustees' expenses|2,150|426| |**6.**|**STAFF COSTS**||| ||The average monthly number of employees during the year was as follows:||| |||**2023**|**2022**| ||Administration|2|3| No employees received emoluments in excess of £60,000. Page 9 continued... **Lincolnshire South Federation of Women's Institutes** ## **Notes to the Financial Statements - continued for the Year Ended 31 October 2023** ## **7. TANGIBLE FIXED ASSETS** |**Fixtures**
**and**
**Computer**
**fittings**
**equipment**
**£**
**£**
**COST**
At 1 November 2022 and 31 October 2023
7,732
2,824
**DEPRECIATION**
At 1 November 2022
6,813
2,101
Charge for year
138
108
At 31 October 2023
6,951
2,209
**NET BOOK VALUE**
At 31 October 2023
781
615
At 31 October 2022
919
723
**8.**
**FIXED ASSET INVESTMENTS**
**Cash and**
**Listed**
**settlements**
**investments**
**pending**
**£**
**£**
**MARKET VALUE**
At 1 November 2022
88,008
3,974
Additions
23,596
-
Disposals
(21,575)
-
Revaluations
(1,756)
(657)
At 31 October 2023
88,273
3,317
**NET BOOK VALUE**
At 31 October 2023
88,273
3,317
At 31 October 2022
88,008
3,974
There were no investment assets outside the UK.
Cost or valuation at 31 October 2023 is represented by:
**Cash and**
**Listed**
**settlements**
**investments**
**pending**
**£**
**£**
Valuation in 2021
11,188
8,485
Valuation in 2022
(12,867)
4,693
Valuation in 2023
(1,756)
(657)
Cost
91,708
(9,204)
88,273
3,317|**Totals**
**£**
10,556
8,914
246
9,160
1,396
1,642
**Totals**
**£**
91,982
23,596
(21,575)
(2,413)
91,590
91,590
91,982
**Totals**
**£**
19,673
(8,174)
(2,413)
82,504
91,590| |---|---| Page 10 continued... **Lincolnshire South Federation of Women's Institutes** ## **Notes to the Financial Statements - continued** ## **for the Year Ended 31 October 2023** ## **9. STOCKS** |Stocks
**10.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Prepayments and accrued income
**11.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Other creditors
**12.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**Restricted funds**
Lady Giles Bursary
Hargreaves Bursary
Holland Bursary
Mary Porter Bursary
Myrtle Harris Bursary
M D Nussey Bursary
E M Munson Bursary
**TOTAL FUNDS**|**2023**
**£**
57
**2023**
**£**
20
1,900
1,920
**2023**
**£**
33
2,250
2,283
**Net**
**At**
**movement**
**1.11.22**
**in funds**
**£**
**£**
179,343
3,504
622
7
389
5
1,571
18
549
6
280
3
1,158
14
345
4
4,914
57
184,257
3,561|**2022**
**£**
47
**2022**
**£**
58
2,125
2,183
**2022**
**£**
26
2,100
2,126
**At**
**31.10.23**
**£**
182,847
629
394
1,589
555
283
1,172
349|**2022**
**£**
47| |---|---|---|---| ||||**2022**
**£**
58
2,125| ||||2,183| ||||**2022**
**£**
26
2,100| ||||2,126| |||4,971|| |||187,818|| Page 11 continued... **Lincolnshire South Federation of Women's Institutes** ## **Notes to the Financial Statements - continued for the Year Ended 31 October 2023** ## **12. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: ||**Incoming**|**Resources**|**Resources**|**Gains and**|**Movement**| |---|---|---|---|---|---| ||**resources**|**expended**||**losses**|**in funds**| ||**£**|**£**||**£**|**£**| |**Unrestricted funds**|||||| |General fund|88,958|(85,719)||265|3,504| |**Restricted funds**|||||| |Lady Giles Bursary|7||-|-|7| |Hargreaves Bursary|5||-|-|5| |Holland Bursary|18||-|-|18| |Mary Porter Bursary|6||-|-|6| |Myrtle Harris Bursary|3||-|-|3| |M D Nussey Bursary|14||-|-|14| |E M Munson Bursary|4||-|-|4| ||57||-|-|57| |**TOTAL FUNDS**|89,015|(85,719)||265|3,561| ## **Comparatives for movement in funds** |||**Net**||| |---|---|---|---|---| ||**At**|**movement**||**At**| ||**1.11.21**|**in funds**||**31.10.22**| ||**£**|**£**||**£**| |**Unrestricted funds**||||| |General fund|197,415|(18,072)||179,343| |**Restricted funds**||||| |Lady Giles Bursary|622||-|622| |Hargreaves Bursary|389||-|389| |Holland Bursary|1,571||-|1,571| |Mary Porter Bursary|549||-|549| |Myrtle Harris Bursary|280||-|280| |M D Nussey Bursary|1,158||-|1,158| |E M Munson Bursary|344||1|345| ||4,913||1|4,914| |**TOTAL FUNDS**|202,328|(18,071)||184,257| Comparative net movement in funds, included in the above are as follows: ||**Incoming**|**Resources**|**Gains and**|**Movement**| |---|---|---|---|---| ||**resources**|**expended**|**losses**|**in funds**| ||**£**|**£**|**£**|**£**| |**Unrestricted funds**||||| |General fund|72,870|(74,313)|(16,629)|(18,072)| |**Restricted funds**||||| |E M Munson Bursary|1|-|-|1| |**TOTAL FUNDS**|72,871|(74,313)|(16,629)|(18,071)| Page 12 continued... **Lincolnshire South Federation of Women's Institutes** ## **Notes to the Financial Statements - continued for the Year Ended 31 October 2023** ## **12. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined position is as follows: |||**Net**|| |---|---|---|---| ||**At**|**movement**|**At**| ||**1.11.21**|**in funds**|**31.10.23**| ||**£**|**£**|**£**| |**Unrestricted funds**|||| |General fund|197,415|(14,568)|182,847| |**Restricted funds**|||| |Lady Giles Bursary|622|7|629| |Hargreaves Bursary|389|5|394| |Holland Bursary|1,571|18|1,589| |Mary Porter Bursary|549|6|555| |Myrtle Harris Bursary|280|3|283| |M D Nussey Bursary|1,158|14|1,172| |E M Munson Bursary|344|5|349| ||4,913|58|4,971| |**TOTAL FUNDS**|202,328|(14,510)|187,818| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: ||**Incoming**|**Resources**|**Resources**|**Gains and**|**Movement**| |---|---|---|---|---|---| ||**resources**|**expended**||**losses**|**in funds**| ||**£**|**£**||**£**|**£**| |**Unrestricted funds**|||||| |General fund|161,828|(160,032)||(16,364)|(14,568)| |**Restricted funds**|||||| |Lady Giles Bursary|7||-|-|7| |Hargreaves Bursary|5||-|-|5| |Holland Bursary|18||-|-|18| |Mary Porter Bursary|6||-|-|6| |Myrtle Harris Bursary|3||-|-|3| |M D Nussey Bursary|14||-|-|14| |E M Munson Bursary|5||-|-|5| ||58||-|-|58| |**TOTAL FUNDS**|161,886|(160,032)||(16,364)|(14,510)| ## **13. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 October 2023. Page 13 continued... **Lincolnshire South Federation of Women's Institutes** ## **Notes to the Financial Statements - continued for the Year Ended 31 October 2023** ## **14. RESTRICTED FUNDS** ## **Lady Giles Bursary** The fund has arisen from income generated from the bursary donated to the charity. The fund is restricted to being used for educational and training purposes for Cowbridge WI members only. ## **Hargreaves Bursary** The fund has arisen from income generated from the bursary donated to the charity. The fund is restricted to being used for educational and training purposes for Fenside WI members only. ## **Holland Bursary** The fund has arisen from income generated from the bursary donated to the charity. The fund is restricted to being used for educational and training purposes. This fund is open to all members. ## **Mary Porter Bursary** The fund has arisen from income generated from the bursary donated to the charity. The fund is restricted to being used for Denman courses for members. ## **Myrtle Harris Bursary** The fund has arisen from income generated from the bursary donated to the charity. The fund is restricted to being used for the Lincolnshire Show prize for embroidery class. ## **M D Nussey Bursary** The fund has arisen from income generated from the bursary donated to the charity. The fund is restricted to being used for educational and training courses at Denman college for any member who has not previously attended. ## **E M Munson Bursary** The fund has arisen from income generated from the bursary donated to the charity. The fund is restricted to being used for educational and training purposes and for the following institutes: 1st year - Long Sutton WI 2nd year - Old Leake WI 3rd year - Gedney Hill WI 4th year - Sutton St James WI 5th year - Any member from Lincolnshire South Federation of Womans Institutes Page 14 ## **Lincolnshire South Federation of Women's** ## **Institutes** ## **Detailed Statement of Financial Activities for the Year Ended 31 October 2023** ||**2023**|**2022**| |---|---|---| ||**£**|**£**| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Affiliation fees|50,226|43,877| |Donations|146|891| ||50,372|44,768| |**Other trading activities**||| |Trading Income|3,693|3,343| |Members Advisory Committee income|1,635|853| |Board of Trustees Income|4,387|547| |Take a Chance Club Income|665|745| |Activities Committee income|4,912|305| |Public Affairs and Education Committee income|4,300|4,667| |Sundry Income and Reimbursements|230|620| |Lincolnshire Show Income|14,991|210| ||34,813|11,290| |**Investment income**||| |Deposit account interest|81|49| |Investment income|664|6,111| ||745|6,160| |**Charitable activities**||| |Annual meeting|3,085|5,235| |Council meeting income|-|5,418| ||3,085|10,653| |**Total incoming resources**|89,015|72,871| |**EXPENDITURE**||| |**Other trading activities**||| |Affiliation fees - NFWI|22,383|24,148| |Public Affairs and Education expenses|1,729|3,397| |Activities Committee expenses|4,863|103| |expenses|365|2,032| |Board of Trustees expenditure|424|3,163| |Trading expenditure|1,372|2,088| |Lincolnshire show costs|9,603|-| ||40,739|34,931| |**Investment management costs**||| |Portfolio management|1,320|1,423| |**Charitable activities**||| |Trustees' expenses|2,150|426| |Salaries & pension costs|19,835|19,145| |Insurance|832|663| |Telephone|858|692| |Postage and stationery|3,142|3,142| |Carried forward|26,817|24,068| This page does not form part of the statutory financial statements Page 15 ## **Lincolnshire South Federation of Women's Institutes** |**Detailed Statement of Financial Activities**|||| |---|---|---|---| |**for the Year Ended 31 October 2023**|||| ||**2023**||**2022**| ||**£**||**£**| |**Charitable activities**|||| |Brought forward|26,817||24,068| |Sundries||116|376| |Office rent|7,825||7,600| |Repairs and renewals||296|79| |Council meeting costs|5,383||1,954| |Federation Denman costs||385|390| |Wages admin||330|400| |Fixtures and fittings||138|162| |Computer equipment||108|128| ||41,398||35,157| |**Support costs**|||| |**Finance**|||| |Bank charges||12|512| |**Governance costs**|||| |Auditors' remuneration|2,250||2,290| |Total resources expended|85,719||74,313| |**Net income/(expenditure) before gains and**|||| |**losses**|3,296||(1,442)| |**Realised recognised gains and losses**|||| |Realised gains/(losses) on fixed asset|||| |investments||265|(16,629)| |**Net income/(expenditure)**|3,561||(18,071)| This page does not form part of the statutory financial statements Page 16