theWI INSPIRING WOMEN THE NATIONAL FEDERATION OF WOMEN'S INSTrrtrrES OF ENGLAND, WALES, JERSEY, GUERNSEY AND THE ISLE OF MAN Trustee report and financial statements for the year ended 30 September 2025 Charity number: 803793 Company number: 02517690 TheNatiollai F&tsratiou ofWoToeo's tkndiMts8ofFW, Wkn.Jew.Cuernseyand the Iskofmau Contents Page page numbers introductio Str&tegi¢re￿rt Obje¢tives and actiiities Achievements and perforn￿n¢t Plans for fiLture periods Princip21 iisks aod utyeertginttes Statement of trust￿, rBsEM>wibi]ittes Rderenee and admitsi5tratiYe detalls li temen IndepeudentAuditorfs Report 12 Consolidated StatE]neut of FiuancialActThrities 14 Cotssolidated Surnn￿ry tncome and Expenditt￿e Actount Balanee Sheets L6 Con501idatedStatemene Df &5h blov5 A7 Noles to theAccounts 18-33 TheNationai Fthrabc4L ofWon*lls I]￿i￿￿ of EDglarf w4￿Je￿, Cuerllseyandtbe Isleof Man Introdiiction The trustees, who are the directors of the dwttable COULpanyt pr£¥ent theirreportaJd gD)upaudited accounts for the year ended 30 SepteTthr 202& The ￿7￿ee$, le￿￿rtI￿Ll)￿y)rat￿the strategic report as requir¢d under companylaw. The group thc NationalFederationofWottten's IDstitits {the NFWD incIudiug Denman. tht NFWI'S edueationai cllarity. and its sllbsidiary trading compallyWI Enterprises limit￿. The accounts bave been prepared in a(x%Jrdaneewffttb Fitsa]]cial RepDrting Stsndard iD2IFRS 102) applicable in the UKand RepublicofIrelaDd, the Ch&tities Statement of Recon]mended Pra¢tice (FRS 102) and the CompantesA¢t 2006. The LXFWI represents the Wt movemthrt Jatiollally. It SUp￿rts. Co-0￿]nateS aodprovides &focu5 for the activities of theWImovemelltas a Whole￿ as lo promots of purpose. Thewt n]oveJnent COnSi5ts of around 170,000 ￿eMberS in 5,000 Womeu's Institutes (WIS). EathTh is affiliated to olle of 69 Coullty orislandfederatioD4 (the federations) andtlLe5e ID turn are members of the NFWI. Fach tountyor islaud federation and eacb I￿] WTi$ a6epardtely constitutedcharitythat prepaTes its owll accounts which are either illdepeDdenItyexaThin￿oralldIted. Strategic report Objectives and activities Thewomen's ITLStttute organisationis based on the idea15 of fellow5bip, trnth, toleranee and justite. AIlwomen who are interestedin thevalues and pUT[￿se5 of the Womell's l]Jstitutemay join, no ]natter wbat iheirTriews oll religion orpolities b& The orgallisatiots is noll-8ectarian arLd non- party pDlitica]. The NFM'g llim is lorthe Wl to be all oryatiisation of choitt, inspiring 2nd enriehing tbelive5 of all women and girls who wish to playan active role in their commuAJities, widen their hornon$ and learD news￿8, andforevery ¥*OToarL kn havethe opportunityto jointhe WI, wherever shelives. a) to advallee the edueation of wou)ell alld girls forthe pllblicbenefit in all areas sncludiugtr Mithout IiTnilatioll, local national and iuternatiODa] i&sues of ￿lItICal and Social iTnPOrtarLce' ￿USiC. dran aDd other a]Iturdl subjects. 2nd all bran¢bes olagriodtore. cr8ft5. hoDk e￿no￿l¢s, 8¢iell¢e, bealth and so¢ia] htifare" b) to promote sustaillable deyelopmentforthe pub1icbeDefftby￿UcatIng pè)ple ID the preseTh?tion, Co￿$eryalton aDd protectiojj of the enwonment and the prudeut ll5e of natural ources. aThd promoting8￿ta1n￿hIeMe0mS of aehieThillgeeonO￿ic grohtb and regeneraiion" c) to ad¥allce heaitEL forthe piiblie ￿llefft. d) to advance ertriensllipforthe publit benefft bythe promottonof cl￿£ responsiThilityaDd volunteeTi TheNFWI seek8 to givewojnenthe opwrtunityof WOTlung toget]￿ thrnuAh the Women's Instittite organisatiorl in their ¢omm(mities, of deFelopiDg their tap&city and skills, and of puttiDginto practice thgseideajs for5vh1￿ tbe Women's tnstitute 0ryODi5ation stand5. The liFTrIT See￿ to ensure that it is open alld ace￿Ible to all women and thatas many diffeJEnt opportunities are offeredio as manymembeTS a5 VLC51Th1e 50tbatthat they make the mo>t of their membership. It support4 aBsi%ts and advises the fderations and l*ls to provide An effeetive frameworkforde]Rvery of the Ill's purp)ses aLMI also 06ers members the chan¢etowork alongside their fellow mernbe￿ throughout Eugland. Wa]es and the Islallds on national projects. It Provides The Naiiollai FederatMMJ of WollJEn'sI]￿lthtss0fEn￿M1 wa￿ Jew, Guernseya]Mlthe Isleof infonnation,thiDing and education serrice8. Itpromoteswomen's concerns and interests nationally byprovidingan operaiill8 tnodel Motbill wthicb members'Triehs Shape pojicyondstrategy, representing tbeir concerns to national andlocal 8overnmenL (Ftheragellcie4 CO[￿)rationS and the wider communityaELd infiuencing change. The a¢ttYities UDdertakenbythe hTWI fall under the followitigstrategic airns: Bold and 1ts9pirittgi To be aboldvoice Tepreset)ting all WQULeD alld the COllJllLUDitiesill whith theyliv Gromryng and Relev&nts To wntinualiypmD)Ote the achievemetsts ottheWI, teaeh mote women alld mettthership. Induslve: Formernbersbip to Tefiectloeal 0)mM￿nitieS and TepTexeDtwomen from all backgrounds tbrough the worlr the Wl does. Flexlble: To r¢moJve any prdctical balri￿5 to women Supportiog tbe Wl byofferlngfl￿￿1e ways they can engage wtthwbattbel¥Idoes. The NFWT ]aull¢b￿ the CUTreDtslrategic pIan on 16th September 2020. This reptsrt is based on this framework Pub]le bth*fit- The trustee5 w]Jfirm theyhave had due regard to the Charity Com1ni￿10ll guidance on pub]icbenefit in deternI]￿the aeknryttes UDdertakenbythe clwity. The Irusiees are satisfied that the NFwfs athitses, as Explaiued ill thi8WM)rt areinaEeordaneewith the re8ulations on publlc bellefit. Aehievements and perfornian sectionsllmmarisÈs the kry acbievements in 2024125 28ainSttheNFWI'$ strategic aims. Bold and Inspiring: To Ix a knld voice represeutillg all women and the communities in whicb they live ]￿ill￿ this fJnall¢ia] year, the NFWI Board of T￿￿te¢S undertODk a ￿n)prehensiVe teview of our Collstitstions to eD5ure that they remain fil for puryosej Tesw>nsive to the evolving llee(Ls of our orgaDisatioJ, and all￿ed iyith bestPTactice inthe ch8rityseetor. The tEarnTrDg Hub. whicb lawxehed in 2024. eo]Itiuu&s to have phellomenal succ888 users. Averaging at over 5,000 eoTr bookntgs 8 month from the onliDe courses offered, the ￿]K of ranl topics and speakers alwys inEpire, inforffl alld connect. This year we atso ]aullched OUT new De]unall Grdnts whieb Sup[￿ the provision of face-t(￿f&l￿1earnlng in ftderntions. Ollr commercial arm, Wt Enterprises tkd IIYIE). bas had the first annivenary of the WI b)ttery, launehed in partneT5bip withGatheTweli. whicb 8enerated of 232k in thisfjnancial year. Nearly 300 of our cbarities have set llp tbeir own lotteries througb Durplatforni in just olleyear. (hrera]l. the lottery gellerated £95.6k ill¢on)c for the V¢hole organi5atio ThisyearWIE worked in co]lalM)r4tion with mu¢b-lovcd Britislj de5ig[Ler,ED￿a BTidsew2ter tolauueh a commemorative mugto rnaTkthe iioth a]Jniversary of theWI and 40Ye￿ Of tbe Elljma BridgewateT bralld. The u)mmemorntiYe geneTated £9.6k of incom& Our movemenY8 commitment to positi¥'e soeial change nuxs as lifebl(wxltbrougb the Wt. In January 2025> we gathered a coalitionof 37 cross-paitySfP5 who signed a jointlelterto urge the sovernmeDt adopt the measwe8 in the Microplastic Fllters (Wasbing MaehiDes) Bill. Part ola loJJg-runllingWI-led illitiative linked to ourPlastic Soup campaign. During tbe &urnffteTof 2025> mellthers called for1r￿ dijnate actioll durillg Tbe Great BigGreen Weekas Part of our Climate Change eampai8ti. Over sooo people, inclllding n)at]yMry men)bers, The Ndtional Federdtkn ofWOJt￿u'S ofED&and, W￿JeL￿. Guernsryawi thelskoflW4n dascended on We5tminstertr lobbytheirMP5 &tThe C]Imate Coalilion's Act N'ow. Change Forever Mass Inbw. lye also laun¢hed the Faircreen Future campaign, wbi¢h Shone a li8hi Dn howclimats ehallge and policj. affect different 8TOUPS- espec1altywo￿ell. WI'S up and th>wn Fmgland, WaLeB and thei51and$ contill￿e to Monitor tbÈiT I(￿1 rivers for pollutionlei'ds arld speakup for their Cora￿￿nitieS all yearrollttd. The clirnate. environmentand the pr￿t￿tIon of llatore reD]aill Steadfast priorities foTtkne wolnen 0[the￿, alla we'Te a andvocal leaderin this fiel(L April 2025, we1au￿¢bed our Dentsl Hdthmatiets Re￿rt itiWestmitsster- whtchlays bare the devaslating effects that alackof NHS d¢JtsJ scryices ba5- P8rticu]grtyonwDrnell. who put othe first andplioritise the denta] health of tbeir familiets. ID Julle. we lauucbed an iKLitiatiYe where emlRrs made to?]ety bags of dental health pr(du¢ts fordistr￿1 Ution to foodbath andwomen's refi￿es. At the 202i NFItrI Anllual Ileetin& our merttbets ￿t>tea on a uew resolution. Bystanders Can Be Lrfesauers a5 ourcampaign forthe yearabead. Since itslauDeh ID June 2Q25, more thau 2,000 member5 have beell trailled in CPIL aDd maoyare spreadiDg the sY)Td ID the commuDities and in the edia. We are gratefid for alLthe SUPPK>rt froln StJohnAr(Lbulance, AirAmbvlanee charities, local COmmUDtygroups, a￿dthe Brittsh HeartFoundation. For ourwork inwales, we were pleased to receive oi*r E24,000 from the Watrrloo Foundation to butld on tILe workof our'Not in my liame. eatnp&igu. YFWJ Walt5 a]readyh&% over30 Wl Champio￿, recruited specificallyto Teach out iDto commutsitie5, to ILigb]iglEt alldfigl1tll￿e}￿0le￿ee agat]Jst worneTL and ￿rIs. To eontinuallj promote the athievements of the Wl. reach more wonien and grow MTI membership Duringtheyearwe welcomed over ¥,700 newmembeT4 50 new Wts were formed alld ourwrtual WI network in¢reased from 17 tts u. OurThEbsite. alld MYWI platform. eontiuueto enjoyhuge seores of visitoyts-with 1.8 mll]ioll views on the ￿ site oYerJll, and 75O,ooovieh￿ OD Mywt. In the sulluneTand aUtUn￿ of 2025, the NortbamptOn8bire Federation played a bigand tolo role in welcoming thewomen's Rugby lfv'orld Cnp 2025 to England, showwing thebest of tbe WI'8 Coln￿Ullty T￿paCt andcreatrrytv. As part of a larp5ra]e yarnboD)bing project. do￿nS of WI grollps across the county created a Tugby-themed insiallation btretthiThg frojj) the $tatb)n to Frnnklin's C7ardeThs, whic]LhostedkeyWorld Ctsp ￿￿tches. Their efforts werereCo￿lsed1n seores of media including BBC IV. Thss y¢ar ourformal collaboTation witb EnslaTrdRugby dTEWto a c105e following rnuch success. By the SUrnTnerof 2025, 72 WI'S had tearned upwith 6j rugbs. clubs, transfornjingclubhouses a¢rossthe couuty illto eentres of creatsvity. collveTSatio￿ and connECtion. lior membership to promote local communities and represent womeu from all baekgrounds through the work the WI does The NFWE hasbeen worknig hard to supw>rtovrPrisoll WL% svbicb were adVe￿elY impaetedby the pandemic. We were delight¢d when ￿ SLNI). worknng dosely with the Surrey FEderdtiou, reopened its prisots in SeptellLbei 2020 to olfer mllch-needed friendship alldsupport. In Il'ales, we undertooka new project- M Connect and Grow- whieh focussed onbringillg ]Jew women into the l from the Pembrokeshire and Pohys region& lfye eaptured significantl&qtning the pmject whÉeh be used to infomi our recruittnentworL&cT05S tbe otgallisation. The new Social Rasp0D￿7)uIty. Fund, spearhcaded bythe MeTnBership and EDgagementteam imryted anyWI to apply for a modesl graDt to deliver10￿ProJerts for marginalised y1￿Men in theirresion. We have seett some meantngful and impaetful ¥elatiollships build for example in Northyorkshire with WOULen tackling loneline&8 and isolation. The NatiOtsIFeder&￿D OfWoD￿'S1n5tltut￿ofEn8kn￿W￿Jer5Cy. GueThwand thelsk ofmo In 20¥, HgL(e continuedto supportthewt moTrernent, celebrdting and inforn]ing rnembers. We've bigmigbted aebievements from all over En￿Dd, W'ale6 and tbe IslaDds, from KeWI raising over És0,000 for Re￿Se to Northamptonshire Federationyarn4)ornbinga townto eelebr&te the Women'5 RugbyWor]d Cup. In September 2025, we Celebrated the wfs {and WI life'5 WJ i&8lle) ILothbirthdaywith astr￿]ng eollage cover, special recipes and a vigittoWIK>knryck and Plunstead Roses TrVI. We platfom)ed in5pirlTrgwomen such as fingeryrint idetttifjcatioll anaty5t Katie Faers. and professional ￿beTll￿ll Ashleymullenger, tot&lk atxiut their area5 of ext*rtise. WILife has ￿pOrtedfrOM Pride, Happy Place PestivaL al￿the Act N￿vChange Foreverf c]imate lobby. The mag￿lThe eovEred theN*th parties for the 2025 virti￿AnnUaI Meetit)& andour fantastic speakers,ADgel Strdwbrid8e ED)ma Bridgewater. From raising awaren￿ of WI ￿Mpaign5 sllch 2sNo MoreViolenceAgaillstWo]nen and Bystanders Can Be Iifesavers and calling on membett to dollate to pri50n Wl" s or apphTforSocial Responsibilty fith, the magaane has coutinued to bO1￿Y thiveforward themu's agenda and raise aware￿ ofthe orsanisation'5 ambitiow wort plu8 the m>Tiadbellefits of being & member. To remove any practic31 barriers to womeD supporting the WI by offering flexible ways they Can engage with what the M does During 2024-2025 we Tall a pr0grd]￿e in wal￿ talled Cojjneet aud Grom tcp testfocugcd to target a specific group of women and bringthem into theWI ￿e￿bershIp. This wa5 a tillLe-bound projeetthat tbat identified women aged 40-60 as the taTgetgn)up. The projeel explored the main ba￿lerS to jottlingwhich were perception of the orgaDisatiott and alack of aiYarene&8. It worked to i¢lentify btsiy to rdise awarene￿ of the Mry, chaDge the perceptioD, and increase the appeal. T￿e learnits8 (rom thi5 proiecl wa] befurther Lested in thewiderorAanisation to help more woJJJen aerD5S Ellgland. Wales and the Islands and work to temovebarriers to TnEmber5bip. NFWI attenaed events across tILe ujuntryto reacb new audiences of women. It worked to build on the M0￿elltu￿ of inlere5t generdted at events Whe￿ speakingtOWOTnen about thebellefits of Wl membershipby triall1￿￿ a'book a tasterf 5dLe]llethat couldim]nediatety sign llp inteTested women to attend a taster meeting at theirlocal WE. EieDts *tteDded inclllde IK>rLdon Pride, Happy Place ID Chiswick and Cheshire, Il'ornerL of the Wodd Fpstival Nortb &ast in Durham and IN'a]e5 attending a numberof events tndmdillg Every}You￿L OurviTtualWIs conli0￿ to from A7 in 202312024 to ￿. Thesehelp membership aceessil)le to women fory￿lOUS reasons, findthat attending p]rysid meetings does not sllit them. We eontillue to offeT the WI Supporter optioD which is opeJ] to women aged 18 alld up. This is all option that allow$ wojnen wkno are interested inthemlbut do llotwa]Jt to commit to a membeLEhip a wdyto eontteelwith the organi%ation and receive regular Corninllllitations. Financial review At the end of tbe fitrancial yearthe NFWI remained in a go(xlfinancial position overall with adequate reserves. Out roc￿8 re￿aIns on the diYusifi(atioÉJ of illeome $tream8 to providea strong fiDaEicial fouttdation for the oryani8ation's Income Co]]solidatedineome decreased byo44% to É4039rn (2024: £4.057rn). Income fromdonations andle8acies £156k (2024: £46k). ltseorThe f￿￿charItable aciivities was £2.368m{2024: E24un). The Tnain sources of ineome were membership 8ubs¢TiPtiODS of É2302m (20¥.' £2Joom), Dtber educational activiti￿ of £65k (2024.. £LO9k}. The NatioJMI Federntion of W0n￿l's IDStilutdp of Eugb]wiWa￿JeT￿.C￿erll￿aNl the Isleofman Paid ￿e￿bership numbers forthe 2024125mernber5hipypaT atthe end of the finallLia] year. Are in line tbesame time lastyear. Income frorn othertrading activiti&s w&8 £1.027m (2024: £L.058k). Thiscame frollLadvertising, CQ])UDiSSiOll arnents and otheTtradin8 activiknE5bythe trddÈng subsidiary. WI EnteTrTises Ltd. Inve8tment Èneome registEfEd £488k (2024: É544k). Expenditure Consolidated expenditure illereased by 469% to 474om (2w: £4.528m). Expellditure on cbaritable activittes É3.87m (2024: £3.67m). MeTnber5hip and traill2ng wetiditure w&% É£A39m (2024: £2.278m) whi¢b induded £i.154mfor prodllrtion •nd deliveryof themen)beTS' ]nagazitie, Wll¥e, alld otberservic&8 for members. FAucation expenditurewgs £1,026k{2024: £807k) which ineltLdd expenditure at Denrnan of É395k aud othereducaiiolla] actisqties of £632k. Public affairs eyndtture of £706k (2024.. £587k) suptx)rted a¢tsvttses rdated to reseuth and campaignill& Expelldityre OD Taisingfund5 was £8frik(2024: £855k). This maintyrdated to COSt5 of sale5 and overbead5 of WI Enterprises W. Education & Development, including Denman The Dennwh TrDSt wntinue5 to offer Online courses free to Jnejllbers ott the IkArnitig Hub. In November 2024, Ihe Denman Grant S¢h¢me was announced. to reinforce ourcommitment to 5UPPOrt Imembers and their Federat10115 who Share a passion forlife]on8 learnits& These grants provide brand LeW￿Dd$ to belp Federations offer faee to face educational op￿rtL￿)itleS iallored to the u])ique eeds of their membe]s. This year a total of 289,000 was distrbuted to ll Federations. Trading subsidiary The tradillg company,WI Ellterprises achieved alotsl pmfit of £16okas of Septe7nber2025 {2024'. £204k). Balanee sheets Taw%le fLxed assets, induding the fteehold pmpertie5 at hiFtOTiC Cost were £416k(2024.. E306k)" investments were E3.S79rn (2024." £3.994m). Net current assets were £8.509m (2l pled8eg ill linÈ with member feedbaekabead of the 2025-2030 straiegy. Principal risks and uncertainties The NFI*I tntstees actiyety DJODilorthe major risks facing the ¢harity. Forn￿1 17sk analyses are ¥naintailled for the tbreemairlbusiness areas and reviewTlbJ theboard at least annually. Risk anagernent has also beell addedto all keynationa] cororoittees to ensure this is re8ularly reviehEd allo proactively rnaDaged. Ri8k8 are LY)nsidered under the headi￿g$ OCStrate￿e, operational, financial and regulatory. Haviugco]npletedthe anuua] review. the trn5tees consider that appropriate a¢tioJJs have been take￿ to control and rnitigate the impactof rD8ks where possible. A8 the national coordiuatsngbodyforthe ULovemenL tbe major strate8ie risks iDdude failure to attr&Et andretain Tuembers and ally artionthatreS￿ts itya negative I￿paCt ontheM'5 reputation Alld illfluence. These would affect the Sta￿dIng ITL whith the held and its abllity to infiuenee the wider COm]nunity. Tbe risks are Tna]Jaged tbrongb 5UPPOrt, guidance aJkd¢onJJnunieation$ with the ideT organ￿atiott, a proaetiTrE pRStrate￿ and dose mollitorin& antial risks relate to the abjlityto maintaill major%)ur(Ys of income alld potential over•tt]iattet OD ll)eJnbetsbip sulk4cription& The relies on membership subscTyptioDsfor a significant proporlion of its itsc0￿￿ Total Ille￿ber llurnbers in 2025 were broadly io]iue Mitb 2024 The continues to Envest ID attracting and TetailliELg members ihrough ongoiug deVelop￿ellt of 5ervices.A7-yearfinaJ)eia] plan hasbeen lawichedwbicb aim5 to support tbe diversification of NFwrBitiLy)￿e 5knPall￿ to strengthellthe charityalld ensure susLainability. Thts plats illcludes aTrarietyof newCou￿￿eTClal and fundraising acti￿tIeS, including the Wt loti¢ry V{hieb￿￿IaUllChed thisyear. The COILts￿￿tiOn nmde bythe tradingsubsidian-, IVI Ellterpri5es IAd. decreasedby 22%eomparedto the previous Year. TheTrlE Board continues to &xplore of rlew partneL3hip5 and other avenups to diversify incolne, i¥Ldudingthe IAJttery. lttve%thxettthas be¢ll ￿￿de illto the org8ni5ation's retail aCti1T￿eS with the recruiknent of a ll¢￿ senior m￿agera￿a expa]]sion of key con]mercial partller8hit to in¢re45e thewl's presence ID ￿a]Orretail0ulletsaTrdthe divth%ifit*tion of PLY)duct5iThtbe wfs own onlitse shop. The maiD operatiollal risks relate to thestabfitty of key￿ systeD)s in¢￿aingthe￿ern￿￿1p database. These risks are mat]a8ed tbrou8h support agEEements, appropriate policies arLd prottdllres rOb￿t internal ¢ontro15 over acce￿ and moving OUTSyStetns to doud for &¥tra security. The tntstees are aware of irlcreased Thsk of ryber-attack due to a higher volume of Info￿atiOn being &xchallged on]ille. The remaiDS viylatst in protecting itself against these attaeks througb eduoating staff o tommon ihreats 6uch as phis]Ling attempts, as well as rrsystems wbicb tlagfraudulent em&ils. A cybEf iDsuraLce eoveris now illch￿ed inthe NFWI inSura￿lE cover. Thetrusteestecognise a coThtinued riBkfrom the implementatiots of GDPR and tILe Data Protection Act 2c)18. This Fs man&sedwith suppsrtfrom the NFWts legal ad￿Se￿ through the rtviewof current arrangernents alld develop￿ellt of neWpToeed￿. We o)J)tinvally U￿te staff andfederations o are&* of focw andbest practice. Stwcture, governance and management The YFWI COnsti￿tiO￿ 15 set out in ÈtsArtides of knociation. ￿p]ES are avallable froDI tbe cOmpan￿S re￿tered offiee orfiThll Companies HoLfe. The N&tiOTbai Fthration of Womts'slnthtes ofEllgknd, Wales,Jew. GllerDseyandtheTsle of Man The NFWI determines the otrtrall eoTbrtitutloDal struct[￿e fortheWI movement including the governiug documents foTWls and county federations as well as its own. The governingdi*umeats were ]ast updated ID June 2025 eosuriugtheyLx)nttuue to pmside asound, modernb8sis for tbe WOEk of the WI goittg forward, wbfjst not changingthe fimdamentalvaluu and objects on wkith theWI is forilled. Chairs and Tr￿UrerS of the courAty andisl&nd federations rÈprèÈeni Jnpmbers, V￿￿¥S at Nationgl Councll which meets at least annually, prO￿all)g afOn￿f￿r eoD5uItingoll the shapittgof po]icy and strategy and howthe cbarity is managed. DuTing the yearin Teview and as i result of the challenges of pandemic a]Ld the impact of tbe SupremÈ Court R￿1]￿￿ (April 2025), tbeSTIII and FederntioD5 have etmore frequentty to explore so￿¢ of the kwis5uts aDd risk area5. FachWI ts also represented at theNFM'sAllnll￿ Meew providing afi]rt1￿Channel of repreaentation. Subsidiary company The subsidiaryeompany,WI Enterprises Ltd, is limitedby share ￿pital and bas an authori5ed and isslled share eapital of EIDO,ioo. IYI Enter￿iSeS Ixd i% a loo% subsidiaryof the parent charitable compally and raises funds foTthe parent charitythr0u￿ comnmcial ventures. Fundraising disdosure Wecomllllt to our fi]ndTaisins being legaL opeD, bonest attd r&spe￿. ￿￿Illgthe 5tandar& Set iti theFundraisins Codeof Practice. We also eILsU￿ that nobodywFLO appears to be vulnerable isasked to COM￿I￿ to gI￿llg. bo Co￿p121￿ts were raised Thitb the FuDdrdi*ttig Reguiatoritstheyear (2024: fLO coTnplaAnts). We wrrentty do (romthe general public and are ￿giSteredWItbthe Fundraiffing Regulator. Recruitrllent and appointment of trustees The Board of Trustees mayhave up to ftheÈn mell]be￿ Twelve ￿e[tIbe￿ aTe eleL*ed bienlliaity (this moves to a three yeartenn ullderthe 2025 goven)illg d￿tsMents) bythe county a￿d island federatioll$ and W15, and Mp to Iwo ￿ernbeTs maybe co-oMedby the elecied trllsiees. In addition, the Chair of the Federations of W'ales Commiltee is e]Èded bv the federdtions of W'2ie> and beeomes a member of the Board of Th￿tte$ ￿-offiCI0.-￿Yll1e￿ber￿￿o i5 eligJl)le to hold a Th￿ee positioll is e]x8ibleto standfor electioll or C￿optiOn as trustee. Fmm June 2025 the IFWI Board als has the abilityto C(￿0p1 llon-merllbertrustees (with prts¢nW ratk)s). The NFfrtrI thair, HonordryTreasurerare elected fora threeyearterm and Officu3and Commitlee Chairs aTe elected annually bythe tswtees fron) amongtheir ttumber. Induction and training of ts'ustees Ne￿Y electedtrustees ulldertaketraining and indllctioll ￿1th seniorstaff and external speeialists. TIie Board of TrL8tees a]soundertakes a shlls audit, aodally $killsgaps identified are met eitherby the proTristoD of external 5UPPDrt ore(FOPtioll to the board olup to two ]nembers Mryth the requisite sLIll$. Organisationa] structure of the ch(vity and how decisions are made Theboard rneets at least four times a ¥tar. A fillante eommittee comprises of up to sixboatd tuembeys nd to two eX￿n)￿l a(histts, advisin- tknc b)ard ou all &￿rts ofthe group'q fiTran￿. Much ofthe board's WO￿18 delegatedto addTtional wOrki￿S Cullu[￿ee5 chdiredbyrnemtws ofthe Buard of Trustees for eueh of the el12ri￿$jn4jn ateas of actiTrity. The LY)mmittees include Mernber5hip and Ellgagemeui, Edueation, Pub]icAffair5. Ibe F￿erd￿0ns of W8les, FinaDce the DenmaD Trusl Board. Ill addition. Ltd has a separately eODStitutsd Board of Directors, a]1 but two of wELom a NFIIq Th]stees. The ljiard deter)nines p)licy and Strate￿ta￿llg accountof advice from tbeVaEi0￿ working eommittee5, With cl&qrguida]Lce produced on the deeisio]J8 that t*quire NF￿￿ Board agreement. D#yto dtyrn8nasement ￿ dÈle8ated to the Chief ￿et￿tive10￿￿Orn gjlof the hTwfs employees are respoDsiTrle through the lille mallagement8tn￿ture. The thief Executive tOgether￿th the NFWI'S seDior teatni8 responsible (or &Kecution of Poli￿ andstrate￿. The Chief EX￿￿tiVe is accountable to the board. Thefollow1ngrnatte￿ reqlli￿ board approval: The annual budget Reserves p)licy Capital &xpellditure Investment po]i¢y, on the recon]mendationof the FinaD¢*Con)mittee Risk Re8i8ter. Remuneration of staff Salaries for the key rnanagen)enl peN>nnel aTe detellDiDed byevaluating the rol¢s with referencetotompar&ble roles iu tbe clwityseetor. The aims to pays8laries atthe median rateforttLe seetor. The NFTrtr￿ the Dationallyagteed NationalJointCounci] (YJQ pay5cale alld payawaTdto re)nunerate otherstaff. To determine thesalaryforeach role. the NFI¥I evaluates salaries tbe chaTitysector and sets a startDJg salary at thernedian rate for cbariti&8. FAcb rolebas a three-p)int seAle, 2nd the salary is Illcremeni￿ aDnua]lywiffl themaKimuTn of the scale is reache Cost of living in￿¢&$¢$ are awarded in line witb inmses in thE r￿Je scale. Key management pe￿}￿le] art also eligible forcost-of-1ivi￿s illQEa5e5. a￿d these aTe nonnally at the same Thte as tbe NJC percentage increase. The NFWt ￿s0 ensures that salaries meet tbe GovernrnenV5 National Minimum Wage andNationai Living Wage, and it aDnllal]yMie￿ salari&8 in re5t*rtof the Yoluntary hisherlevEI UKLiviDgWage. E￿p]￿Ye¢ costs are det￿lea on page 25. Statemeut of trustees, respoDsil)ilities The trustees (who are also Directors of The liaiional Fedetation of Women's I￿titut&S of Ellgjand, Wale8,Jersey, Guernseyand the Isle of Man forthe pu￿05eS of compallylaw) are responsible for preparillgthe Trustees. Report andthe financial statementsin aeeordanLYwith applicable lawalld United KinsdomAc¢ountiDg Standards Iunited Kingdom Gencrd1lvA￿ptea AeeountiDS Practice). Co]upallylawrequires the trustees to prepare f￿anCial statemÈnts for each finallcial yeaTwbicb give 8 true andfairview of the state of affairs of tbe Charitable eompatsy and group as at the balance sheet date, andof the C1￿￿tableC0]npauYalldgroUP'siueoM]ng resources and applieatioll of rt8L¥ure&% ncludingincome and expetsditure, for that peri(d. In prepaiingthose finaDciaI state]neDts, the tees are required to: selertsuitable ac¢ouTLting polieies and then apptythejn ￿￿sIstentI￿. obseTrE the lljethods aDd principl&£ intbe C￿ltieS SORP,. D]ake jlldge)DeDts and a¢(x)UDting e5tin)ates that are reasonable and prLtdent,' state whether applicable UKA¢counting StaDdardshaYebeen followed subjett to allymaterial departures disclosed and explaiTLed in the fi]Jancial ststejnents. aud PTepare the finattcial statefftents on the goin8 wneerD basis unle$5 it is inappmpri&te to PTesu]ne thatthe charitable companywill wtttinue inbusine& The tr￿tee5 are reSpon￿b]e forkeeping adequate acwvnting tecvrds that are suffieient to show and explain the eharitabk comE)aThy'5 andthe groLp's transactions and disdose reasotsable accuracy at any time the financial position ofthe eharitable compahy and thegroup and eathlethem Eo e￿llre thAtthe financial 8￿tell￿ntS eojnplywitb tbe Q)TfLpanies.4ct 2006. the Charity (Actowits and Reports) RegulatlQDS 2008 aDd the proFisioDsof the tharitable ￿mpall￿5 COD5tithtioll. Theyare also respots•ble foT safeguardillg the &s8ets of the charitable COD]pallyand the group and henee fortaking reasonable steps for the pmentson and detection of fraud and otherirregularities. The NatiolltilFederatK)D of W0]J￿.¥1￿81ttuteSofEOgIana. Wal4Jew, Guern6ey8nd the ]sk ofmaj) The tn]8tee8 are Tespollsiblefor the ThatuteD8nee 8nd illtegtityof tbe corporate a￿a finat iufoLTllatioll illcIuded on the charitable compan￿￿ website. Legis]ation the Lnited Kingdom governing tbe pEeparation alld dissemination of fiu&Dcia15tatemellts Tnay differfromleg51atioD I]1 other jurisdic1lu￿. Thefcllowing statE￿ents have beeu affirtnedbyeath of tlLetrnstees of thecharit&ble Lyjmpany. so faras eachtrnstee is aware, there is llo TeleTaTJt audit iufornHtioD (that 14 iDforniatioD ￿eeded bythe cOmpan￿S auditors ill CODDe£tion p￿pIringt￿jr report) of which the coJllpanl8 auditors areullaware. and ttU8tee has taken allthe step5 that belshe ought to bave taken a3 a tntstee in otthrto make h]￿self/herself aware of any rele￿llt audit infol￿ation alldto estab]ksh thatthe Clthritable eompally's auditojs are awate of that information. Ike Tru5Eeeg Reportinc0rporatingtheS￿teglCRe￿t was authori8edand approvedbythe BoaJd of Ill￿tee8. BYOBDEROFTHE BOARD Jery4 Stone Chair of Truste 4Marth 2026 10 The Natio￿) ofW0￿￿￿'SJ￿Sthtr￿ofEDs1lU& Wa￿Jer£eY.GUer￿ya￿d thelsle ofman Reference and a(Iministrative details I'ii]stees Sue Biss Pamela B¢edan Erllta Brichta Natasha Hllckle I￿eyJoneS Helen Kestle Aun Mitchell Paula Pierce Jill Rulldle Heather Stoney Jeryl Stolle- Chair ResiguatX)DS.' HiYaryHauJorth ATwie Leach AlessaF￿1￿ ShermorL Gell￿al Secretary/Chiet Executive Melissa Creen Company regtstration llumber 02517690 ChaTity registration number 803793 Registered and prineipal offi IQ4NewSSDss lioad, London 4LY Auditors H&ysblacLtF. io Queellststet Plac4 iA)Ddon F£4RthG Bankers 4FBank, 25 Xiw Hffl Avenlle. Killgs Hffl. WestMallin& Kettt ￿￿9 4TA Investment Adi'isers cctAInvestmenl Management litDited, SellatOT Hous& 85 Queen VictOTiaSt. knlldon, EC4V4EY Legal Advisei's Eatrs Wel]5, So]ieitor8. 10 (￿eeD Street P]a(%. L4)ndon EC4R IBE TheNatioTrat Federation crf Wumn's Insliw ofEr4la¥J. W8ks. Ja5ey. lknrnsey PaKI the of Man I[b*p￿t audiiorfs reportfrff ts year Setrtthiitet OplDlon Wehaveallditedthefinantialstatements of TheNational Federation of Wonwi's ItLStitu:es of BngLan Tryales, Jersey, GuerweyandtheIsleof Mallfortheyearended30 Septe￿ber 2025 which cornprisethe Consolidated Statement of Yinancial Aetiiities, the COr￿0]idated Summary ILeome and ExpÈnditllre Account, the CoDsolidated and CoMpa￿Y BalaDee Sbeets, the Collsolidat¢d State￿elli of Cash Flows and notes to the finaDeial stateme￿t& incltsdiDg a of sigDifieant accounting policies. The financial reporting framework that IL&8 been applied in their preparntion is applivdble lali and United Kill8domAccountiJgStandards, iJcluding Fitsattcial Reporting Standard 102 The FinancialReportiR9 Stondard applic<￿Ie Tlt the UK and Republic of Irelond (United ￿ngdoM GeDeThlly Aeeeptsd A¢xouuting Practice). In Dur opTnioD, thefjnallcial statsments: give atrne andfairviewof the state of tbegroup'saThdoft]Le parenteharitable coJLpaLfs 8ffaiTS a5 at 30 Seplernber 2025 and olthe grollp's otsd pawt¢baTitable companl5 ]iet DLoYemeut itl nds, indudi￿gIhe income and &xpeDditUTe. forthe yearthen ended. have been property prepared iti aecoTdance with Unit&J Kingdo￿ Generally A￿epted Accounting Practice. and havt beetl prepated ttt accordance with the requirements of the CompaniesAct 2006. Basls for opinion We conducted our auditin aC￿[danCe with Jnternational Standards onA]ulitiDg IUKJ OSA8 (UKI) aod app]icable law. Ollr respotisiblities tsnder those standards #re further described in the Auditorfs re$ponsibilitie$ (or the audit of the fi￿all￿a] statements 5ectioll of our Teport. We are independent of the group in accordance with the ethica] reqlli￿￿ellts tbat are to ovr audit of thc financial state]nents in the UK indudillg the FRCS Ethieal Standosd, ￿}d fu]fi]led our other ethical responsibl1 ities in accordance wtth these requirements. Ive believe the audit thidenee we have obtsiDed is sufficient and appropriateto pmide abASiifor our opiniott. Conclusions relatiugto goiug concern In auditingthe fl￿nCial statements, have eondudedtbatthetntsteeg useotthe goillgcoucernbasis of accounting ill the preparation of tbe fitsanctal stateTneTLts i5appTopriate. Based OD the work we have performed. we hase not identified ats) material Ull¢ertaI￿ti￿ relatiDg lo eventsoreondttiotss that, individLKa1lyorcollectivety,Tuay￿ttSlg￿JfiC&ntdOubtoDthegrollpalldparellt charitable cO￿panY5 ability to continue as a goingconcern foT a periodof at least twelye months fro when the finaneial statements xre authorised for ivue. Ourr&st>ottsilyi]ities aDd the resp)nsfr)i]iti&8 of the trusteeswith respect togoing cou(*rn described in the rele￿￿tSettions af this reporL The tnjstees are reS￿￿sible for the other iDforniatioD. The other iDfoTmation eOrnPTiSes the ]nforn￿tiOn1nCIlldea ID theTruStees,Ar￿￿a1Re￿rL Ollropilliott on the£nanciaI statements does not cover tkne otherilltomiation and, ex¢epttoihe extentothen¥ise explicitly stated ill ouryeportwe do not expresg anyfonll of assurance condU￿0￿thereoTh. In ¢onnertioD wlth our audtt of the fmancial 5tatementy otsr ￿spO￿l￿nity is to read tbe otber infornlation and. in doing50, LY)Dsiders¥hetherthe otherillforn￿tlo￿ ismaterially inconsistÈntwith the finarneial $talewAents, or our knowJ¢dgc O￿ained in the audit or otbeTh4ise appears to be materia]ly i8state¢L If iye Identify such ]Dateria] iDCOllSiSteDcies or apparent material Tllisstatements, we are requiTed to deteEmille whetherthere is a ll)aterial JnitstateJneDtill thefinarloial stat¢m¢ntsor& )naterAal misstatement of the 0therinf0r￿ati0ll.IE,basd olltheworkwebayeperfornied. we CDncllldethatthe is a material ￿]SstateMent of this other ]nfOrn￿tiOl4 we ate required to report that fact. We have nothing to ￿port irlthis rgar(L 12 The N81p￿a Federatsn d W(¥r￿'S InsbtutegofEruW. Wths. Jw, Guwy aThl the Isle (A Man Indwendenl a￿jit(*S the sEaruthJ 3) Septsnthr 2025 We evaluated rnanagemenvs incentives andopportunitw for fizudulent manipu]ation of thefitwicial stateroents liDeluding ihe risk of override of LX)ntrols). Audit procedures perf0r￿edbythe ellgagemellt team itiduded: IDspectiug correspondence wtth re￿￿atOrS and tsx authorities. Diseus5ionsWitb mauagemenl inejudingeollsiderdtion of known orswpected instancesof non- compliallce Mryth lawsaod regulation atsd fratsd,. Evaluattng managemengstootro]s designedto prevent and detectirregulariti&8" dentifying and testing journth. in particular journal eDtrie6 posted in the yvdr relatiDS to at¢ollntingestimates aswell a5 year end journal5,' Reviewof Minut￿ of meeliug5; Challenging asswnptions and judgements madebymanagementintheir &ccouutillgestinMt&%. Be(xuse of the inherent limitstions of au alldit, tlwe is a mk that Iqe tsot detect all irregularitie$, illdllding tbose leading tD a material Tni*tateTtLeTtt in the fillancial statemellts or non-cornp]ianee wt Tegulation. This risk illcreases the more that compliance with a ]aw Dr re￿lation is removed fromtbe events and transactions Tefiected in tbe fiDancial statefftents. J5 we be less likely to becollLe aware Df iD5tauces of oou-coThpliaDce. The Iiskis a]50 grealer regarding irregu]arities Oecllrri￿ due to fraud r&ther than emr, as fraud involves intentional conceatmetjt, forgery, wllusion, omtssioD or misrepresentatioll. A further description of our responsibllities for the xlldit of thÈ linancia] 5taternents is I￿￿tea on the FinaThcial Reportins CA)unc￿3 Tryebsite aL' This description formsp&rt of ourauditorfs report. U$e of ow report This report is made 501elyto the charttable companrfs membeTS. as abfAy.. in accordance with Chapter 3 ofPart 16 of the Companies.4et 2006. Our audit WO￿ Iw been undertakell 50 that we might st*te to the¢h￿Itable eompany'5 member5th05e rnatteT5 we are Te(wiredtostatelothemin anAllditor sreport and for no other pur￿)Se. To the fullest exteDt perniltted by ]aw, we (lo not ￿￿ept or assume respo￿sIbility to aDyone other than the Charitable aud the eharitable Compan￿& ￿e￿bers, as a kndy, for our audit worl for this re￿rt. orforthe opinions we have foThned. JaDe Askew (Senior Sta￿tOryAUd1tOrj Forasjd ou bBhalf of Hay5Mac LLP. StstutoryAuditor Date: io Queen Street Place IA)]kdon EC4R ￿C. 13 Thè National Fderathy OtW¢yr*Tr'$ Inslilutes (rf Etyjahl. Wde& Jerw, iknnsey Isb of Man Consolidated Statement of Financial Acttvities for Ihe year ended 30 Septernb￿ 2025 Totsl Fund¥ 2024 Funds F￿dI Fundi Funds 2025 Incprno from DDnath15, ￿8Clè$ & Donafv)ns& gr Leg& 4.973 20.5 121256 25,503 1J).016 14,201 31.6C C*Arilabk aclvli e8 Membgr*ip& Ir•nirvJ Eth¢aional &tiMb'es rAffaYs 2A479 aw2,479 65,446 2,3￿,286 105,4N 1,(Y272¢Yd 1,027.2 1,057,931 114.343 1,&53 488,4C2 ,S15 Tt)tsl lrtome 3,446,764 ,738 1,553 4D39,055 4,05T,D65 Raiang fijnts Traing *Triies IW.3181 1867,3181 1854.5861 Charfthe &hvibes kntwstr.ip &traDv Ed￿Au￿al athibes F￿L41t Affair5 (2,139.8301 I631.￿) I￿1.744) In6.7FiI I1139,￿) 12,278,5131 I1,026,4￿) 1807,524 1706.7711 (S87,￿81 Total exp8ndltur• 14345,6731 P94,744) 14740,41n 14528,030) (LusSeS￿lrtsOnin¥esfMents 5,2881 1372311 11A) 301,817 Ilot Incomollexpendthrol 19741971 151,763 1815,0881 I169,1￿} Tr8￿[er¥ ts￿We￿ fvnos Nètmovem4nt inlun¢b (971851) 158.763 (B15,0881 1169,1481 R4conclllatlon of funds Total'.Jnds broughtfotward 4,181395 8,884.927 542D3 13.120.525 13,289,673 Totsl lund• ¢thed fon¥ard 3107￿44 1043,690 54203 11205,437 13,12Q.525 Al recogntsedIans￿ l¢isware n ￿estat￿rt(rf No $8par3t8 tt8m8ntofld recogni1￿ gins 01 tOSS6s h&% weparBd. The sr41 bytnd tr.. *e2C24 is in a sapar810 LTrryar31w Gor.sOlKla￿ Stat&Thenlof.-In￿a AtYJ.W￿s al rthè ￿on p¥ 33. The no*e8 pag83 18 10 33 fom) wtclJ*axotmts. 14 The National F￿eraIKjn ofwonw's Instikrtes d En￿d. W*4 Jry, Isk ol M Consolidated Summry Income Expe￿]itUre Account the year erkled 30 September 2025 The Consoldth Summay InoTh*d Exp*iweAr¥)￿￿lhas t￿pre￿t￿l￿￿wA%A¢tP￿9QW. Al Inc¢ funds 2D25 l kncomB Ivnds 2024 Im)mè 3M2207 3,513 GitIknw51 on h¥estsner.ts 11115191 st and11vestrngnl inwrr 486.849 541,968 Gm• Incom• kn th•y 3,926,537 4341 FJp8nthtwe 14.723.022) 14,510,134) Depr￿aob.0n 117J95) Ily,￿) Totsl ￿pondI￿ in th¢ ye 14,740,417) {4528,0301 Nel inraxnel{&KpeThltwel tth tax I813.8￿) 1173.8WI Ta¥ pay*le Ndexpondliureforthey8ar 1813,8801 1173.8801 Theabove Cc**dYJated S￿MaY IroTh ￿ E¥yrf.. and expeN*'.Lnas in SVFA 13. Ther￿te$ on pw 18 to 33 fom partofts￿￿ts. 15 The Naona F8d8tation ofWotyEn's Instiluts of ErEland. Wths, Jy. Gwwy •)d its of Man Bala￿e Sheet at 30 Seplemlw 2025 numb¢r: 02517690 2025 2024 2025 2024 Flxed a￿ets T*giL4è assgts Investrnents Inv8stsrtent in 5ub5ylayU￿th 415,627 3C6.140 3,379ffj20 3,991,&98 41S.627 3,379,620 1(Q.1(vJ 206.140 3,994,888 100,100 12 3,7%.247 I.￿,028 3.896Fq7 4,4Ql,128 Slwk Debtors InYe8bllwl$-strutlBrm ( Cash at bank ￿ in h*pJ 13 6WJ.824 7,167,602 1.346,178 419,575 7.150.572 1.fA2,820 320,& 7,167,602 1.144,￿2 33? 330 7,1SC,571 1,405,142 9,144,4¥2 926S,402 8,632,8*1 8A89,043 Cr•ditor¥'. amounts faUrgdu8wMhln on•ysJr I6352￿) I446,￿) 1266,6321 1212.5481 NBt ¢urrBnt vd8ts 8.￿,1 8,819A98 8,366,188 8,676,495 Total n•ta$80ts 12,%5,437 13,120,526 12262,5￿ 13.077,623 Fund¥ Er￿0￿M￿t1￿ndS Re3trKt8d funds Un[e￿ilCI8d funds 18 51,203 9.QL3,6W 8.884,?28 3,￿7.$44 4,181195 54,203 9,C43,6 3,164,S42 54,203 8,884.S27 4,13B,493 19 Tc4•l fvrAI$ 12.X6.437 1&120.526 12,262,535 13,QTI,623 The Nabona F￿&abc￿ ofWrthen'sb*Mth of Eryknd, Wth5,JeTrey. (>Mnsey the L4e of Man has taken thè 8xÈmplon from t￿￿￿ting its brKonsold*.gJ stater￿1 urthrs￿n408O1lhe CompariesAct 20C6. TherEI expenthtU￿ ollTre Charfly ￿ 4T01.&i1 jé02A:_Q470,%5 w. exFeTh]rt￿e1. The ststom6nts were8p[Ko￿l bytheBDard ￿Tt￿%￿ aJMi*lfix ￿ on4 2026 and by J stoTre (Chalr) T Bakerltrk)nornryTrea8ur•r) The notes ￿ p4es 18 to&3fmn The Nabrmal Fthravon ol Wow's th*ihrtw of EWYJ, W*s, J¥¥, GtM)w 3￿j the lth ol M Consolidat&l Statement of Cash Flows at 30 September 2025 2025 2024 Cash u8od In O￿N1th9 thIU 11,161,472) 11,063,768) C¥$h flws from In¥egtlng acSYll•s Divldenus& inlérestfvom n¥estn8rts P￿r￿aSe0flangIb￿ fix&1 assets Purchase of invèstmarts . Sale ol invthent 488,402 1127,8821 198,4591 600,￿0 543,615 111,537) Net cJ3h tKovl(bJ byInV￿lIThjX¥¥ 862,060 1.017,9006 Chante in cash c*h th8 C03h and Cash eqiivaknts .4111 8,613.191 14S,WI 6,859,059 Cath ¢ash •ju￿￿O￿ts atthèènd ofthe)wr 8,513,7 6,813,191 Rttonclllatlon OIn￿ mtrrf4m8￿5 In fundjto notmh fb)wlrmoperthg acbvttlo¥ NLI 6xperditir8 30 Wit¢r1>25 as per Stslern￿l of Finantsd Athv.ty 1815,cén 17,395 113,728 1488.4021 8,747 1169,1481 17.896 13Q1,8171 1543.6151 11,598 Lc6s ￿ In¥￿tsM￿t$ [l￿d￿d3 th iitwe Dem4w8a8é1 in 8t(x* Delrease in stock tsr resa IkbJe85111 thblors Intrease Irknr8wl in (rditors 1164,2491 188,398 139,158 1217,8401 Netca•h used In opernOThJ actl4knes 11,161.4721 11,Cfj3.7881 Analysls oleaih and cash eqU￿alents Cash al bank short4￿, 1.346,178 7,167,802 1,862,620 7,160fi72 8,513,780 8,813,192 Tha on tw 18 to&8fom ￿￿rt0ftheaXOrt. 17 The Nat￿nal Federation ofwomgns I￿￿ule$ ofEr&land. W*4 Jwi, Guew the IS￿ of Man Notes lo the fx)nsolidated fIn￿ela1 statements for the year ended 30 September 2025 AccouNfiNG POLKIES Statornont ol coryllanc• Ttre finaTrciaststansrts h¥v8 been pwared'n ￿￿hn9 by ￿ts5.. &*erneDlof Re￿rn￿Wded P￿tiCe applIc￿le10 wep*iryJlheir >xuJ.rfs..p. F':p.awi4 FLyrfng S&ThYatd applc*Lq In thè UKand Repu91￿91 Irthd IFRS 1021 (second edibcn, efectfve 1.'aw 2C151- I￿..￿5 SQRJ IFgS'a211 the F￿ar.cIal ?eFortiThJ Sland2rd aFlkale in the UK Rewblic of111￿0 IFRS1021 &vJ tre Thgy ara up LfKlèr tha h￿tOri￿ cost b8w8 Of￿￿bI¥ as modrf*l by0* re¥au*￿ L*Li¥esbw.l& Asseb ￿d I'.abl1￿£S*8 in￿81y rwtyed at ￿*￿a0)stC￿ urk&sotsr*15eststwJ ￿￿Un￿ng policy notes. Genoral hrforrnatlon Th6 Chafy L% 8 company tygwwtee, In aThJWa85loNnDany nurnbw.. 02517￿) w)d a Charity r￿ister&I in EnlaKI and Wags 8037931. C*.¥Vs 01ha￿re$S i$104 ￿￿￿￿n9$ ￿, Lond( SW6 4LY. Tho Na￿￿¥1 F8dar4tion 01wL￿n5 Irkn ￿t￿n￿on dawbfic tentherty urtht F4S 102. Consolldatlon The ￿Ullts ￿Idats the financL4 slalar*￿ dth8 NFWI it5 SU￿dary, Wl Errter￿￿ Ud, on a Iln6-by-Ine bas:'s. Transac1K￿5 arKI t¢Mw. th ￿￿ltY h3%* elkn.natg11fr￿ lh8 ￿5d￿￿j finansal slatsments. ￿ porffl￿t￿ by ￿. theCr¥n￿les ry) separate Statonenlol FinarKil ActivrtE50r IntsTh Ex￿drfUre a(wml has been preseTh￿ forthe tharya￿ Incryne d the thaiity ak)ne anobnfidto £3.171,738 I￿24.. £3,2￿,4791. NelrKcw.ellwMdlurel of1he Ltharity aftw. ganson Inves1m￿ts lo £815k12024: tr169,1481. Golng concoih Tr twstegs consithrthatth8ré ara no m*aria u￿￿￿t&S abNlthe Nml'6 Wto ex￿￿nCe in tt*forese8abNy tuiurè. Hawrvj cofjsK18Tpd tr,e severpyfir.ancd ￿rategY kn, tre tx)*d 0ftrJ￿ee8 ¥e ofli wewthal NPYVI has adequate resourcesf(f tho fore*èabk fiJtrJ& Crthal accounUrylvdgem*ts ￿d41￿Mat•s *hd kty ￿1￿ceS uncthaknty In the olthes8 ￿}Unting p￿aes, ￿ ￿￿86$ ae to 85timates aThJ assump11￿$ thultho cwry'ng olassets and IL*lltiesfha 8fBmf re• Estlrnat8$8nd judgewRnts are tsjnfhuaty evau*ed ti3torcl ev*wa￿l olherf&kn, Iwknlkng exp￿t￿on8 oflw.uie e¥enis thataT lo rea8￿n* urth #tt.￿. IW ￿￿-[e5 ba¥th on man￿emen¥$ be* kr￿vIedge ofthe arnou￿, emts oracws, w.ay1th.￿￿ty thffei Irorn ItrD*eslinaies. Re￿￿on8 lo a(Lounfing e5b'mal858t8 rwgni8ed in ts period in &slmate'.s r8Iis&4 fjthe aff* ￿lY Ihal orin the perKI r8Msion and'.ulwe Fer'.oOs w.thn al￿￿[[￿￿18￿j tJiwe wKxts. ￿)ij￿.ee5 ￿Si￿r￿1010wrt Kams lo ba areas 5u4ed lo 89tim￿l0r. andjLblgement'. D&pr6oth'on'. Thp ￿￿￿le¢cr￿)M￿lwes of iangilk fLwJ a558ts ￿e ba*J o? n￿￿ge￿n1'51ud9Wtand e¥w'ence. When ￿￿age￿È￿t..de￿ttfies that*,ua usefrj e¢￿I￿nIC Sves ilifferm*ittytrw Lfre esbm* lo cdculale th81 thargè 1$ adju3ted retro8￿ve1Y. Aliwh tarvJUefr&l Dalwn aNI estimated useftsl fves %yill not have a rna￿1 imi [￿ts. ng G*iaro&s ha¥e tEen rw"rpA1. In th8 vw oflho trua￿, no asMIty"￿S 0)r￿eMir￿ fJttwe (wethafj¢￿ assets orlL*41Mèsat th8 baani gthabt daf8 Ikdy to [￿11 in a rTh9teia ￿ll￿￿tt01h2r1￿tyr￿ Ihengxf finan"',aJ year. The fr)Ih)4Ang Xcour￿n9 hayè li rtams in r￿al￿￿t0 thè 5talements. 18 The Nat¥)na Federation cIWom￿'S Instathes of ErE18￿, Waes, Jry, the I￿e olman Notes lo the ￿nso11dat￿ financia statements for the year ended 30 September 2025 Income and endo*Thents Inc0rn9frw donaliws there ￿e¥￿￿￿?￿lI0 ir¥J)mi ￿￿FI Ls probak ar￿ tha m￿e13ryyaue.an Le rdrdbty me2sw￿, ￿￿t£m￿L￿￿1￿lwThh8¥8 In which caggtro inNme is dgf8rr untl Ih6krm$ff co￿111[￿ ha¥e met In(￿M5￿M ￿g￿85 ￿ rècognkwl itis 5￿thafv iKaJTh*ll te rKd¥ed', ncmayt*h￿l1hGCharty1Sthsed ofthe glft, the exe￿10{ has 0)nfl￿ed there are suffwta5setsM ts e**lo p8yh c￿(51￿)￿$ alta¢P.gJ * the kg8¢y th*. arè not ￿.h n th8 Gontrolrf. th8 NFWI ha￿ m8m￿r$h..p subscrplkyts )vinT•t•th pa￿￿￿ tythe NFWI. The ￿nu1 Wl membersh Jtocripti￿ **icb. falsdw in April is locdiy tr) Wls,"th6 NFW L$s.J￿￿￿ yiath8 multyf￿ér3￿nS lo thè NFW by'the Énd of Sapt*nbÉr. The gubserfption ism￿￿rd8b1èarf iltr.￿￿Ore Ktsjnted f(f in the year ofrectpt Any amoLnts wei after kne Year￿d. for exarwte.frcthpjty￿JM.vJ tr*i*ar. *0 axxxmw kyin 5Yar&¥the NFWI ￿ not 8wJre oflhe$8 unbl th8y a8 r8tsW8d. IrKxYne from ctyJrsefe8s L8 ￿'jn￿l0r ￿￿￿)*3[￿ the ￿V[Setake5 plax. In(￿froM ot￿r sales Lg w￿Urt&] tho W¥￿1. In¥the￿ incoma is rewnigéd cn a T&XvatIeb￿¥pj the meagJr8J rew. Inlèmst on fiJnd% on d6POgit is Ind￿*5 W￿.,*￿a.* utw. by*1 e [de￿I b**ng'nsb"iu&on* ￿V￿￿d$ [￿Nab￿On assets heklfor iTrvesThnt WTpc6es ¥e ￿lWa￿￿ by ￿¥4￿1..n,v&SI￿￿￿t irslrullffis. Incwe trom wthvDent Iwdsisw restsic￿ aNJ unre*￿￿j kns ￿￿".[￿j tothè wed￿taMIS0fths fiJNJs. E¥p•ndtturo ExFeftdrtwe Is accumled f￿1)n ap. *yJu* ba%15 **We1￿ i¥a kga to m*e a payrnenl tog thi p￿yanC ihe amDUrt ofthe otdKJatKO￿ be rew. eV￿rture ts *x* tothè rèkvantto thè who￿ o)sts car,n¢l b&dr￿Y a￿tH￿￿, Ihgy lt toa￿￿L$S ona basse￿£4$1￿1￿kn the use ofthe resources. Dlrect cthts inckJdiryJ drectty alN"butals stsff arKJ W￿1[4*￿$l8￿ akr￿￿1 ￿ fvl lo tre keywe&8d*'bity. Shar&1 wrpvt cosisthKthcanrrf)t be lo a ¥eapM&wJ ona syawnalic b*¥, priwp•stafim$. (%vemanc¢ Ihose incu￿1 In wjh co[&r.rf￿4 w sl*JliYy Wu1?n￿1s ￿ wth the Strateg￿ management oflhe tharitys &t¥Alies. Goveinance costs *e InL*thJw.l¥n aiKat8d to Key theba5is olslaff tknè. ThevJu8 of donaled serYi8s ty WJ ￿￿terS i$ThXro￿ in the aX￿nL5 as a B8llWt esllmai￿. Rentals applicabk to ￿e$ *8 tharwltotr* a *rthiht4n8 ba9so%trthPt￿rns ofthe leases. EmF4oyw boneflts Pen￿On ContribulpJns: NFWI The N*pJnd ofWom8n'$ In8tibJ￿S Grpup Parsonal P8nlon *hemg unl&%8 (kn$eto1*(￿ ￿￿tr*s￿￿￿ sthemetial IheAMva My Futwe ￿VestMent sjulion. Tr th¥.ty hasrv) otsrthan forthe Qaym￿l 0fwntrigutic￿. Conlribubons ae m8d8 by both th8 8npk)yee and ts ernFloyu. c￿3 ￿e thoperioG in**lth *eyfall due Shorttarm bgnefits.. Sh)rt tem ienefits, ￿￿￿li¥J w, ¥e a5 an expw in the w(xl in whm IhgSeTriC4 IS iva. Emloyee tell￿rt8.. t¢nefits ¥e Icf ￿*$ ¥x1 in ltr*Trhith FRS 1(Y2. F￿¢d Aswt$ Tanglb￿fLKed as*ts coslftg Jeoxia5d. FIx￿j al ccot kn dgweiabon. No depreualun.s olaryed ¢n freehold land. On )therfLxeo as￿.$, t5dW ￿ a strrigh14ir* basis Dv8rth8 8sUmalÈd us&ul I￿e01.he assetatti*lolowir¥J rale5 fth)W. Free￿￿j £% of r))stl¥tha"1>.1 Fu￿rtUre ￿t￿e5 and ffl￿g$ 20% of ￿k9t compw.ei 4Jprnenl 25% rA(xx%t R￿land mathinwy YA.10%of(Thtba*dI￿ tr*expedd offn& Investmgnta Investwe￿$ area fomi ofbas￿￿￿￿ltrJr￿ a￿*8 th:'n the￿￿n(la statements aila1rva1￿. M)vernents in Ik vaLES ofinvestments areSh0￿ a5 w..re&4wJ gains ￿ Iisses an ￿ SÈ1aM8ntfrfFin￿tral pd1v￿88. Thé Nalona F￿￿?￿on ofW￿n'S InstitAtss ofEtW, W*s, J&w, Guemw [48 olman Notes to the consolidated fin￿cIal stalements for fhe Y￿ ended 30 September 2025 Profits and losses the ￿ls*ran arB ys g&n5 ￿ h)sses kn Sl*ernent fl F￿￿al A￿￿￿1[•s. Reli88dgaYk5 arkl kn88eson invesknenls areCaCd￿￿ s*5 tx(Mxd5 carywngs?lues orlhei. purcha88 vaue ilwuirBd subsgcbenlto tsfirstcay dthefii&Yia yew. Uo**ecgaYts arKI b)sses arèr2thkI￿ as l￿dIfference betrBen fve'.y.' value al ltre year end ald ¥akJe, &vJ Jnreaised.n%estrrenl g*ns and losses comts'ned in the Ststem6rtot A￿￿￿03. LL8tth fixed asSet￿d wobjfund inv8atsYthts 3re ￿ILk19￿ slalarn￿ts atrn*KatYaue. Investsn*tsln thè yJk1dlary any are st*8d in the KcobntJ ofme p3MI alcc* Raallsgj and unreals8d ￿1￿j on M￿￿rtsa'e Oig**J n l* St*emeTr. Acbhibe5, {naty5￿ lthan unre8ilKted, iestr.cied and enéowmwtlurt4s. 05￿ fvnd m¥etherys arecrgjited lo a malualon reser￿e, Invgstrnen,. Incl￿18 18 awjysed bet*Een un.*..Ltsl, rer".thl *d oBcbsed li ihe appropriate column in SL4temertofFhanua Aebvits& Inm frDm is ￿Un￿lforc¥l arthAs b¥is. Irt￿£st Is awuntsd lor an attroals basis. Flnanclal In3tsumfjnts Tha charylyop8rdte5 ba%￿f￿ar￿a81 ithrnents ￿ lenns asgèts amj WIU8 stock Stock in¢lude5 gothts forr&ae. &oc* Li at Lxislon afirst 1nfirstoutb￿S *ithprOV￿ tong b)wrrie obsdete and dthv8 ￿Ocktr) net realisthevaje. nLlo-ffer L￿k ca)5t. Débtorn Trade arl olherdethrs are reccwEeda *e sdibment d￿trthe k¥￿1￿0f￿￿dely￿ett. Propayments ar gr13￿ 81 amount wepaid ￿the nunt k ha? 0*1 Cash a￿1 equrwalenl$ Cash and￿sh eqiivaknts ind￿je¢&h abj a *wyt-knn m*JrWclsc( orkn fr￿n t￿date Of0p￿ing th6 depts￿1 wunt Credknrs Credith3￿ ￿cogn￿￿j *tkere Ih8 dwity has resuth￿frcffl apaslewl thalwl wobaity r69Jl IMsfèi oflunds kn a thlid patty8nd Ihe Sell￿ ot4bJth4 ￿ te me8￿j rw, a￿￿T￿Sara 18mgniwl atth￿r $￿eM￿l amoutr,. Fund A￿u￿tI Th8 ehllniis unresth'rA￿I re8w are to tnJ*s oftheobp(tsoflh& tharity. Thesa maylrdude mser¥sswhi¢h have ￿{￿5￿jD￿ed ty trEtDtsto yukfuture ￿M￿.itMenls dwdoprnents, Restrtt,ed futh wrnFKBegranN (Sjnatimand F9swforYif￿ purrm& Donman COl￿t tdThls, whK* ae to the Denrn￿ Tru& &e reS￿r￿￿j *?thin thg NFWI. Thorslo￿. lThthng rwutteg8nd s￿Jr¢￿ exp￿ by Denrnai ¥e tha NFwfs rn%wntsin res￿￿kn￿d$. Endow[nf￿tfund5 (Impr￿eft￿8 wnKh. ur￿￿￿bKI0l￿8 inkwobylh21i￿￿ ￿5￿￿￿9xPQr,ItsJbUt￿tsTr th8 may te used to furtherthe general L*'eGtsoflhe 2. Incomo from dMa*Jons, IWes &grants 2025 2D24 & grdnt8 14.201 31,600 a¢ie& 1￿,c16 1￿,519 46,801 The Nai)rd Federal￿) ofwcmen's InsNuts of ErYJth. W*& JThy. Guwnsoy I￿e of Man Notes to the c(Mtsolidated financia statements for Ihe year ended 30 September 2025 3. Income fram rharltaW?xl¥￿ 2025 2W24 M8nbwsFip & tra￿VId Subscrth'on$ 2,302.479 2,300,2 I￿2,478 2.300.266 Educ￿10Th Ed￿tiOna &l¥ibes 65,446 109,404 109,404 Publ¢ E￿ts To 2,367,9 2.4Ge,716 4. Inc￿￿• from oth6rtr*llr*d ac¥¥lU85 2025 2024 Tradlng sthidi8rylumthEI aTKI othwyrab'ry iw8 Payrth toti•Sng $j￿￿r￿dIn￿￿￿ on conxlthl 2,182,134 11,154,924 2a6,048 11,168.11n 1,027,209 1,057,931 The Natkml Federati)n ofWc*wi's Inslitutes ofEr4lakl. W*s. Jow. Gwrtw and the Isle ofman Notes to the consolidated fin￿Cial statements for ye& ended 30 September 2025 Summary otflmnetsl ￿rfOrmanCe ofthe tr￿lry ￿b￿kary L>)]ryany wholyowKd'.i&ir¥J Wl Enteryks Jd is iKxx[￿tth ￿.the Jriled ￿ngd¢.￿. company r.umter013399C6. N undertaktss trad..￿ aclmtss lo.rys6firds I￿th8 pwt*tyardoonw￿ rts ful und8rttr￿ G￿t￿Id sthme. Ade8d of vananlis ￿ pL4* the charty ￿d￿￿1￿j sthlwy. ktsits5 ofthe rneTr.bwthlpmaothn8 2nd sal&8 oladvertslng, SFolls(*5hip and ctynnws8K￿ arww.￿ts, arhj rth, Astynmary olthe Thè payn8nl lo thetradiryJ sub5bJtaylM th..aThtycf£1.154.Y2S1￿24.. £1.1l6,1ln¥￿ft￿ th8 dk*MtAabon ofth8 memiership 2024 1.936.756 75,407 38 891 135.076 447 2,037,194 76,￿4 Raffie rthm8 Otheropor*inglrKow Inl8r851 r8ceN&Ip 112.249 613 1181581 2226,660 Co8t1rf59ks & ol*li￿rtI￿ r Raffle costs irdudirKJ to f8derthns NYI ￿teryevn8é5 Adrninistraiton 11,852,8e61 I￿,4?6} 15,0551 (kn.8951 11,624,(Hin 159,0161 1339,6791 12.022,2421 12.022,701 I￿,339 1160,3391 203,958 1203.9581 G'ft pay￿nItots (hBriIy Rela￿1 intrading Sut￿oIary Nèlcurrgnl *s8tyofth8tra1￿g3Ub￿WM 1S8,940 1￿,940 Aggreg* share c4ita rBwves 1￿,940 158,940 5. INcom• from invè&tm8nts 2025 2024 hxyn8trw ulv85trn￿ts Bank interest 478.414 484.37.7_ 59238 488.402 s￿.615 22 The Natk)na Federation Ofwom￿'S Instlutes ol E￿and. W*& Jersw, Guernsey the Isb of Man Notes to the c£$nso￿dated finanaal statements for Ihe year ell(kd 30 Septernber 2025 6. EXp￿1￿ure rqctcoth &Fg0rt co 2125 Exp•ndhur• on ralslng fund$ Tradlng aclNrf￿s 1698,2331 1169,(1&5) [867,3181 1&54,5881 E¥pgnélture on Char1tabhACt￿hl8% Membtrshij &trail ￿eM￿r¥hi￿ swtorL inf(￿￿on aTrJ ￿ants Edw4fj0 EEnman Oth¥ÉducalkJn81 PuLlr Affairs Resèath and ￿MPaig 11.5rJ3351 IWA641 12139.6991 12278,5131 13592891 (295B15) 1384.7441 1631,685) 1307,1591 I￿0,266) IU,07Ql 1271.5ni I￿1,406) èxpendknré 13,196.C441 11.542.373) 14,7404171 I4128,￿) The NFWI pad Wl En18r[￿seY Ltd £1,154,92S1￿24.' £1,168.l1nl￿wCth avJdkstriMAKinoftl* M8MtMsh￿ m4aine. Llfe. This8um has been inckthd in axpthM1thrè Dn ￿￿n￿orthlp & dfset V'n5tewditureor, acbvMe& Comparabv•expondilurèMthfor2024 E¥ponthtur• 2024 Expend￿re0￿ ralslng Tr*ing acb'vth'e8 I1￿,090} 1&54,5861 EX￿nd￿￿r00n C*4rftabknArtlwltt emitrship & trainirg MwDb8Fship ￿P)rL iifomTrtKfft evats Educ8tKn Denm Olhereducauonal &tiiqts5 P￿b￿'t Affai Re8ear¢h and Gampaigns 11.eiK.05 1674,Wl P.278.5131 1273,46n 12&-J.'25 3,6921 12442411 13D7,1591 I￿,366) 1169 8811 1417.525> 1567,4061 Totsl expendtturg IZ992.0291 11.536.rM111 14,528.0301 The Nationa F&8[3￿)n ofwcThn's In*itutes ol ￿@1￿￿1. Jw, CyAn%y Isbol Kkn Notes to Consolidated financ4al statements for the ye¥ ended 30 September 2025 Sh4red wPport￿jts Co*8 that are shared acrcw than￿,e 8diytyar&shx, b￿C￿. Ma)w.8rt fnaK* ar￿ Human Rè90urtss costs ¥e appotr.loned to traliig ￿j￿d￿lY to on the b￿0ft￿ne sFeit ai otkrG)Sts aTr appcfiKrnd on the baws of the umterclst&fernFtyI w.thin each atsiiy. Ratslng IA*nt4Eshlp Edutation &lucatbJn &tralnlNJ [￿bI* affars T¢)tsl 2D25 2024 Manag9m￿l alld wmrnunicab'ons Finan¢é H￿lèn ResoL¥￿S Inf￿MatiOnt￿h￿0￿￿Y&ythIte Premisos &Offi￿ cosis G)veman 1137.wl 1107,9281 6,￿} 11tr2.7841 1112,9911 I￿.le8} 18.8e41 110.6361 110.S34 15J181 181,3181 1105,3031 1375,68DI 164,0181 182.9041 1299,9001 145.4291 158,8291 1216,3031 IfK,9691 118,9521 1280,1141 167,0231 186,792) 1301,3921 117,3131 122,4191 1249,9301 130C,9481 1197,69n I265,￿0) 134,41AI 124,6221 132,1511 I34￿) 1248,1341 I169.￿) 1566,5641 P5,4W 13%,0701 1435,1%) 1',,542,3f31 I1,￿,001) CoMfAfdtlv• •har•d $upportM$ts fw2024 Pumc Tot4 2024 nd• &tsalnl Manawert and ￿mUnrati FwAncè Human Rex￿￿8 lrforTnalior. 18th￿k￿ &￿Ebsite F*emi%es & Offi￿ cosls Govemance IV22¥Jl I38,￿} 125,4911 ,tQ7J 136,Wl (la5,￿) 18,4231 11Q,1a81 110,1&%1 15,2541 138,2521 146.(*71 I￿,828} 139,*281 I￿,110) 145.3551 16D,391 178,7511 150,M91 168,D881 (77,1141 ffl,i331 1249,9301 1300,9481 1',97,69n 1255,9601 1283,331 1248,1341 181B'.81 11ce:9&51 1124,5891 11252461 1166.0791 1674.wl 133.S931 1244,2401 1417,5251 11,536,001) The Nalma F&Ywalbn dwomen's Insdiutes ol E￿￿￿1. W*, Jvsey. Guwrw the I￿@ otm Notes to the ￿nsOl1dat￿ financial statements the year ended 30 Septetnber 2025 7. EMplo￿e1 Ern￿OY￿ costs Salartes So(x3l y￿urty0￿ Pensknncon1ributiL￿$ 1022,4 221,561 121173 1.￿,04$ 186,082 113,066 2.1￿, 2,(W,194 TheldlowirvJ number ofempbs*es eaTrd m oxcess ￿£￿,[￿1)F￿ 2025 1024 £60,000-89,999 £70,000-79,999 £80,000-89. £1￿,000. 109,999 Ernployerd pensKn in re¥￿t01the 8mk*)yww8£35.803 I￿24.. £27,87n. £288,401 of salary costs in theoJrrentyearw*rn bYll*gJLwth8rywnpJy1￿24. £310,3931. Avwaye nurnbers of employees dwkvJ the 2025 2024 Nwnb8r lember3h'p & Ethc&o4- Denman Educ*on- otsr blicAff8irs Management & adTrlni*abon Tra0￿g ￿V￿e$- Wl Ent￿￿ Ltd 15 15 15 42 39 Rènwmiauan ofkry pern￿￿¢1 Th8 key fftanagwt ￿lllld *e the Ctr.WEwtYe. ￿ ￿.￿aL¥ (A ￿￿5. DIr￿￿oI L9￿nIng and Da¥elown￿L of5wJe and CuKur8 * J..r￿￿oICa1rva￿ aTrJ ¥￿)b￿sh.. 2025 2024 Salarf&s Socla wrtycck#s Pens￿￿ Wntn'butiJns 402,326 51858 31,OD1 369,482 ,641 26.434 488,185 440,557 . Twustsa exp•ns05 Trustee aypenses in(4ude r8lm1wrsem￿1Qftr2￿¥￿￿ SUbSthr￿ I￿￿[red bythe tru51ees n carykng oulthgrdubes. The ch4ntyaLw tn*83 5iIHlar payrn￿ts t0th￿d W*cltnJstees. 2024 DI10￿￿￿M￿ur8￿ to InL%t P&d totlird partk N tr,8 trust8È$' bebaf 0￿C9￿ rOu￿-S￿M expenses allow*Kes 3,47S 1.15S 4.597 9. NetlKom• Ilgxpondhumlfortho ywis stated 2025 2024 Tr6 Nattona Federafjon ofwLW'$ I￿ti￿￿ ol waes. Jw. Guem*y the Is￿of Notes lo the consolidated fin￿Aal statements for Ihe year erKled 30 September 2025 Auditoits, rèmunFnfrm A￿rtfee Igroupl oth8fs8NRXS Depreciation op9r4b.ng N)3ts. rentsjs 34.450 31550 17,395 49,333 17,896 87,920 10. Grarnt ma￿r￿j ad¥Ky IrKIL*Jgdln E4rman eyftdftutè W8r&knay￿rfStsm￿l*Satt￿thrKJcOUwq￿ ofqOI. 11. Tanglble frxed aM¢ts Fr•èht4d Funth putor equlpmènt Tolal 2025 Groupand charlty Valuationkost Al 1 thloLw ￿24 Addqirns Disposas 541,935 61,102 89,917 127,342 18,7411 208518 ,014 128,782 18,74,.) 813,OS5 At30 September2025 541.995 61&12 Depr￿1#110￿ Al1 Ikto￿l 2024 Ch¥ge loryear Iminatwl on (l4x￿ 251288 8251 59.519 T6,%7 8.0Th 18,7411 76.304 7,774 17,395 At 30 Septhber2025 259,539 ,428 Nèt valu• At 30 septem￿er￿25 131214 416,621 At N) w￿rn￿2024 ,707 12.950 .240 11 Investments Group and 202S 2024 Llstthl Invèstmènts Ma*el fdlueat 1 Ck#c*er 2024 Add￿￿$ ¥osal w0C￿dS gain Ibs51 3,S%4.8e8 98.459 le￿,000} 1113.7261 4,176,893 114,178 ieLQ,OODI 301.817 hlark•tVAlw at 30 SÈptenkner2025 3,379,621 3.994.888 Invèstsn￿IS al hist￿Tc mst % dtoll rhEStmllunds.' 1% ￿ IEbJ kn IA¥estrWrtM￿t$. Shortt•rni dèpostts In¥￿tment1￿ ￿bsId18rycornpW The National F￿￿all)n ¢*Women'8 Institu1& of E￿, W*s, Jw, Guemsey a)d IS￿01 M Notes to the consolidated finanaa StateM￿ts for th6 yew ended 30 September 2025 Cfva￿ty 2024 At cost.. 100% CrdIn￿ ofWI E[rt￿N$88 Ltd 1(K).1 1(KJ,100 Wl Entsr￿ Ltd Is a by$￿&*￿i$l&￿j li ￿￿￿1•¥j W*s. ¢unpanyn￿tserOl399c6. 11 D•bto 2025 2024 TraJedebtor5 Othwdgbtors rmje from 3uL6idwy(¥Mpany Pr￿m￿ts ar.d a￿ed irKxme 161,599 17 178217 27.452 351 6.128 le￿,339 1￿.749 1282) 203,958 115,463 424339 215.￿6 .824 419)75 333,330 14 Credlts Gmup Char 2025 2024 DefgTed incornelBee t*AebeW Tiaue credKors nwcrsdrtors.. VAT pay*le TaK*'I￿ arKI s￿￿81 wrty IXheT 158.817 2, 186.416 107,825 12,348 99,345 547 74,S56 19.437 Sl.615 152 11Y3985 19,437 ,815 152 84,737 23, 41848 &5.026 71.407 69S.302 266.634 212,548 15. C4f8rr•d Ineo Group Char*y 2026 2024 2024 Bmugh;fO￿d at 01 Octoter 2024 Rek&edlo s￿tsm￿l o[Tr￿an0￿1 ALt￿lIeS in wrrenl year Delerwj in rtsrsnl y￿r 1&9.116 1179.9611 152.75Q 1144.5551 547 14,545 150,W2 179.%1 4.183 17,SLiI carri￿ loThMd al 30Wt8mtw%f25 158,817 1￿,116 11348 547 Delgrred irthme wreserts counsef68S f8wI in aJ¥m by Demw NFWI, s*s fuiure iwe8 ol Wl Lrfe 27 The Nationd F￿￿at1￿ ofworwi's Institules ofEWd. W*& Jwi. Guwnsey lth ofm Notes to the consolidated financAal statements the year en(kd 30 September 2025 16. Poolng ol Farns 2024 Broughll((wwd a 01 2024 R8c8*ts dwkry;h8year L88s'. Tra￿1 r￿M￿r$ern￿ts saL4rfthln￿tsat￿n1 113,3421 25,406 73,264 I2,￿> Carrl8df￿¥d at30 S￿￿.￿er2025 113,342) 113,3421 The P￿￿17g ollares sthéme, eh2W in yw to 3vw ts (x*. ollrdhpl'rg iolh8 arnua meebng and national (x)uncl Mfdingfor Wl county ddg3aEes cId￿ta￿ tsav8l&J. Eath Wl-ndfskn*'Trn (￿nb7blrt9 a sel an￿nI ts th8 fLrt i8 lo 8X&AY￿￿3. 17. CommEtm•nts undér or￿￿n9 2025 Eq￿pm8nt EqulpThMI owl payabbwithkn ￿eY Amount ypars 18,398 3G,935 32,WJ 30, 54,WJ 54,791 s4￿1 54,791 63,895 109,751 The c￿9& to Ihè stat￿nen1 ofFinwa tthaknj£32.*￿{2o24..£32.W). 18. Endowm•ntfund8 2025 2024 Atoi In(￿r[ EXpe￿ilure Movement ￿ matst vauè ofinthents Tran*r8 54,203 1.647 1.5 11wn 13461 3,085 14,7321 At30September2025 54203 54203 The endMRntfiJnd l'kwtQ￿i IkThlKr6knesWLsh a fuNJ1hat wowthsirK¥Jn$ FUP)sesofthe NFW. Th8 Natk￿￿ Federatk)n ofWOrr￿s l￿bluteS oyE￿and, W*s, Jwi. Gu*Twa¥J the Isk ofm Notes to the consolidated fin￿Cial statements for the year ended 30 September 2025 19 a. R¢51rfct￿ 30 Sept•mb4r 2024 30 September 2025 G￿p Charfty galrt81(toswl tr¥nsf9rB Grants and donatlo Gel Co¢j￿ng Sport8 Cujrul Wa y Family Fwndatrn YIMAD donati N'atu￿ F￿[rAge￿IeGf Englaid Rugby pmpct CS fund 4118 4,118 11402 12402 35,S10 4,379 44.053 14151 30,758 4,379 90 11256 143WI 122256 88,746 134,658 146,9)5) 174,499 Otherfund8 8,M,181 .081 1345,8391 137,2311 8,869.192 Totsl r85trtthd fvnd$ 8,884,927 5yJ.739 1391,7441 (37,2311 9,043.691 The co￿n￿ kndedtyth&w￿ G￿￿[T￿￿1,8 Ch* W*s5y￿*s¢he￿. Th8 Srorts Counol Wles gr*tt ￿p￿￿￿,.8nn9Ol￿ SwJL-. b4ssadors lo'w(rtin trbèi cixnmur,*g3. The Ashley Farpily Fowd3Tion donatp)nw&%'.rywaresft stw, PrLyrdK￿ >hsa'.w ofth8 NFWI Textllo ￿l￿t'un. The WMAD donation was made up)n thsjrs WIMrw PI*M a proKs h8* 8mkMHer%Kxnen in Wdes. The Naw.'3J Herfit4a pr(i*.futhl by a Hen* LWI gw110￿￿ W (w￿l￿1￿e$ ￿ wa9StO PYaS8r￿, prot&t 8nd p&nl utban trees. J Rugb￿. Trii SY￿ todeep d%* ntolhed*a D¥ticipabng n ptrys.cal lid S￿131 SP￿ and uli1￿e this data to LY6*è fIr*st4￿ bjcal W$ w.o".thchts, ￿e￿Ir￿j￿g ￿1)Me? who MayhaveneV￿ been in a club tefu610 p￿t1p2￿ in actr¥ty on Ile aTrJ to asaMts4rE ￿¥￿Orth￿tfif allwoman. Denm's funds ae restri* vithui ts¢haiity. Tho knd bjacy donthn sèt M￿t￿LI￿nMun1kn￿ wt 19b. Dthman lund$ 30 ¥•stment glin￿110￿5e$1 tranlkrs SoPt•mbgr 2Q25 2024 Grani8 and donalon8 Gen¥al Ibnds thd Permanent End( Bll￿eS fuRd ederallon 9r3J)lfiffjd Sa¥ir¥J fvnd 3A76.80.4 443,014 4,rAo,cc¥) 422%2 1291,Tr21 3,510,955 441,383 4.tK]O,000 42,D67 72,370 766,$84 9,2511 163.056 TT1,239 1894801 16,8381 124,132] 19.877 Total rggtr[d￿ lunds 8,7*,181 P81.2721 137.2311 8￿3,759 The g$nei4 ftmds 3re wrestrKaed Derv￿ t￿1 May￿￿* Wto [kn￿'s *¥J ara ￿1th1￿ the overa d)ailty, Thé fv.4d is made up OF gth, ￿ueal￿￿ aml [￿rts3 r￿￿U￿reSt￿ted., Ths buisaiioslJnd arefvnds Dw¥nan uSet0&J￿ln￿*$rth) Ws.. The Saving Denrn￿ walfUnds￿E IhwJh a knliaÉtl ￿ 2016. bpro¥idgfundskf the fuiur8 mainlen8ll¢g De￿an eslat8. 29 The NaI￿al dworrnns 1rtstiti￿ ofE￿I&￿, Wale& Jw. Guemw*YJ the I￿6 of Man Notes lo the consolidated financial stalements for the year ended 30 September 2025 20. Unrestslctod fLmdB G¢neralfiJnd D•%lgnat fund knvestment vatuai Total unrestricted lunds Group At 01 October 2024 ,lal mvèm6nt in funds Trawterbellw fvnds 2.594,791 1898,9C9j 1.286.6￿. (75,2881 4.181,395 1974,1971 346 A130S•klwnbw 2025 1,695 882 1.211316 3,207,544 Ch8rKy Al 01 (kttc&er 2C,24 N8t mov8rrthir [￿ndS Transfer bePKen 2.W.278 I￿,￿0} 1,241215 1752&31 4,138,493 1974,1971 346 At 30 Septembgr2025 1,698,715 1,165,927 3,164,642 De￿9n￿edIbr￿$ ln¢Kh*£￿ktof￿1 tsMDw*.Irg m43ziJe ￿ ts2025 ￿kndarYear. 21, Stst£mth)tof fvndl 30 Sopton**r Incomo Exp*bthfv ￿¥￿t￿￿nI 2024 Ng1 trnnsforn 30 8qpt9mbor 2tr25 Group Unrestrit• Resthcted Endornt 4.181.395 8,884,927 54.203 3,446,7 s￿.738 14,345,673) 1394,7441 175,2B81 137.2311 112D7) 346 3,3)7,544 9,w,e90 Total fvndo 13.120,525 4,Ok9,055 14,740,41n 1113,7261 12,3Q15,437 CharKy Uniestiicl Reslrf(a8a Endowment 4,138.493 8.W,927 54,%)3 2579.446 13.478,3551 1394,7441 (752881 (372311 112071 346 3,184,642 9,043,690 ,203 13461 Total fu￿8 13.07T,623 3,171.737 P.873,0991 1113,7%) 12,262,535 Th8 Na￿)￿1 Federatijn olw0n￿5 Instiiut&s ol W*s, Jwsty, Guwnsey a¥J the L%le ol Man Notes to the consolidated fin￿Cla statements for Ihe Ye￿ e￿Ied 30 September 2025 22. Dlstrftrmjtlon ofneiuseis lunds Group Crther not a•$etsl Total funds doposts, bA &abh 1,458A18 2W.6 7X.921 18517,422) 3,3)7,543 Derm 11.041,7911 1.(N11.791 8,338,139 174, 8,W,192 174,499 11.041.791) 1.041.791 8,512B32 9,043,691 Endiswm8nlfv $1203 Totl fuNI¥ 416.￿17 3,m.620 8.513,780 14,5901 12,3￿,437 Ch xwl As*ts Investments Sh)rttsm deposls, othqr nèt Total Fundi labilitksl Unr95Med funds 1.458.416 2383.7% 7,781J96 18,4&4,6991 3,164,£41 Rosmed funds [￿nmaTh Othèr 11.LH1,7911 1.041.791 530,&59 8.338.333 fj74.4¥a 8189,192 174,499 11.041,7911 1Tr11,791 S30,859 8,512,832 9Xrf3,691 Endowm&rtlunds 54,203 Totsl hjnds 416,627 3,479,7al 8212,255 12.262,535 23. R£laW partytransKUon$ The NFWI pad tho Ir*lirKJ ￿b￿{tI￿ry£I,1SI,g35l202¢.. £1,168.117)forwtlKaiDTr ofthe Wl merthrship rnaw'ro. Thetr￿[0 Sub$KK￿ pa￿ Iha charty8 ma)Wwl¢•d£1&9kl￿24.' £166klfoTshw￿ffjnan￿, HRa￿ offkE8er¥ 2& Po# $h¢ét events GN8n lh8 ¢urr8nl inWtrn8DtVa￿*k￿nS, the are￿ft￿l￿l￿aItr￿ orgarlsalth a gLiry concam no large Smpacl on fiTrancra ID￿&& 31 The NatBMI F8deraon d Womi's Institutes OlE￿a¥j. Wdes, Jmy, Guemsey the IS￿ of Man Notes to the (x)nsolidad financial statements for the year ended 30 September 2025 25. Conwaratfve Statomnt of •t30 SopknborJ24 Totsl Fufft 2024 Fw Fur*dB Funds ' from Dwbong, Donati￿$ & ￿ants Log¥kgS 14W1 31,e￿o 31,PK#] chafftab￿ Membatsh'p &INniro Educ41￿￿ &lrvknes Publlc Affslrs I￿2 41.415 2,300.2ee 109,404 l.W,931 1,057,931 In¥estynenls 122,526 419.442 1,647 543,615 Total Inco 3,536,387 519,031 1,647 4057,085 Raiskngknds Tradirg 1854,5861 Ch*l8b18 adbybes Membership& tra'niro EdL¢Aiona F￿b￿AffaI 12.278513) 12,278,513) 1807,525) 1587,4061 1307.1591 1587.4C61 Total •xp¢ndltw• 14320l711 1307,1591 14528,0301 Netgarts I Ilc6sesl on In￿￿[￿ts 210.724 301,817 Notin¢¢m•ll¢xp¢vdlturg1 1473,7 4n2 1169,1481 Tr￿erS LEtween ILThL% 53,627 148.8951 14.732) Melrf￿Yemen¢ ln fvndj 1420,1331 250,985 1169,1481 RKondlatton ol hnds Total tJnds houghl fopNaid 4,601.528 8fi33,S12 13,2&,673 T¢tal bJThJs ¢arrled fon¥ard 4111,395 8M1927 51203 11120,525 32 The Nakna ofWunen'5 Institutes ol EThJand. W*. kn, Guwy l* ol M Notes to the Co￿01[dated financia Statem￿ts the ye& ended 30 September 2025 26. Coryarthè StstsmwrtofFund5at30Sept•hthr2024 01 October 2023 Inv8Stmont 30 8•pt8mb 2024 Iran Grp UnrestrfcLgJ Rastr￿t￿d EnLkJvmenl 4,￿1,528 8,633,942 3,￿,381 s19￿3,, 1N7 1422C,8711 IYJ7.1591 210.724 53,627 148,8951 14,732) 4,181,395 8,884,927 54.203 Totsl fvnd8 13289,673 4.051.(￿5 14,528.11101 301,817 13,120,525 Charfty Unre8trici&Y RB*ricted Endtmrnnt 4hS9,626 8 &33,942 2,681.th1 519.C31 1.647 13.366m¢l 1307.1591 210.724 88,008 .53.627 118,8951 14,73Y, 4,138N93 8,884,927 54,203 Totsl fvnd8 13246,711 3202.478 13.673.443) S)1.817 13,077,623 27. CoryJarnUvè DIgtAbution oflktAwts lundi at 30 *t8mbw 2024 Group Oth•r not assets1 l&abUttk81 thposft$, bar &c#h fvTrd$ Unre81riclgJ f¢As 3t6,140 2.efj1,883 1.1￿.718 1IOT,1261 4,181,395 R￿tr￿l￿fvndS Dellrnan Other 1.m.022 7AY2.473 24.687 88,745 8,79S.182 88.745 1.019.(Y2 7.612,473 113,432 8,884,927 EndvmntfuTh 54J)3 54,203 Totsl bjnds 3LIS.140 3.W.888 B.813,191 6.￿6 13,120,525 ¢14rJty Total funds dopostts, bank assetsl & cash Unre*rict&l fvr.ds .140 2.*1,763 241 7,349 4,138,493 Restrited kJTrds Denman Col&Je 1.079WX2 7.6Y2,473 24,687 88.745 8,796,182 88,745 1.079,OZ2 7.￿1473 113.432 8,884,927 Endu4Menlfund$ 54,313 54,2D3 Totsl fvnd9 ,140 8W.714 120,781 13,077,628 33