'Iretox abOUt.-trianK Cbarity Reglstl'Atfion Niiwbei. 101656 FEDERATION OF WOMEN'S INSTITUTES OF NORTHERN IRELAND FINANCIAL STATEMENIS YEAR ENDED 31 AUGUST 2022 DAWSON & COMPANY CHARTERED ACCOUTrANTS TELEPHONE (028) 9024 5217 l of20 1211212022. 10..2S
Firefox about:blank Page 2 FEDERATION OF WOMEN'S INSTITUTES of4 NORTHERN IRELAND YEAR ENDED 31 AUGUST 2022 CHARITY REGISTRATION NUMBER IOL656 CHAIRPERSON Mrs Margaret Broome VICE CHAIRPERSON Mrs Kathleen Venier HONORARY TREASURER Mrs Sbeclagh McRalldal TRUSTEES OF FEDERATION HOUSE Lady Anthony Hamilton Miss Margaret Torrens Mrs Hilda Stewart REGISTERED OFFICI 20912 I l Upper Lisbum Road Belfast BTIO OLL AUDITORS Dawson & Company 171 University Street Belfast BT7 114R BANKERS Danske Bank Donegall SqiiaTe West Belfast BTI 6JS SOLICITORS Diamond Heron Diamond House 7-19 Royal Avenue Belfast BTI IFB 2 of 20 1211212022, 10.'2C
rireTox IIOUUL'.Oldn Page 3 FEDERATION OF WOMEN'S INSTttUTES OF NORTHERIY IRELAND REPORT OF THE TRUSTEES The Trnstees present their Report and the Audited Accounts of the Fedetation for th¢ Year ]ded 31 August 2022. Tbe fmancial statements, which bave been preped under the historical cost conv¢ntion, ar¢ in accordance with relevant accounting standards, the Charities Act (Northern Ireland) 2008, aiid the provisions of the Statement of Reeoinmellded Practice, Accounting and Reporting for Charities (FRS102). The Ti'ustees The trustees who served the charitable orgalkisation during tbe period were as follows: M Broome (Chair) K Vemer (Vice Chair) S McRandal (Treasurer) H Adamsoll J Beattie L Dowds S Ledlie V Little M Mccracken L Roper L Mcclure C Rankin B Richardson P Robinson R McAllister R Savage M Darrah R FeLlY T Feeney S Lyons R Ca011 (Appointed 30th June 2022) Objectives and Activities The purpose of the Federation is aiming to unite in promoting any work which makes for the betterment of our homes and the development and improveinent of rural and urban life through social alld ediicational activities. This is achieved by providing opportunities for lifelong leaming, and for personal and social development, forniing and supportllig branches of Women's Institute across Northem Ireland and encouraging unity of plpoSe at home. The Trustees confm that they have referred to the Charity Commission's guidance on public benefit when reviewing the Federation's aims and objectives. The results of the Federation's activities for the Ye can b¢ s¢en ill appendix la and Ib. 3 of20 1211212022, 10:29
Firefox about-blank Page 4 FEDE114TION OF WOMEN'S INSTITUTES OF NORTHERN IRELAND REPORT ofi THE TRUSTEII S CONTIIYUED The Federation of Women's Institutes of Northerll ITeland is a registered charity, lliiiiiber 101656, and is constituted uiidel the Handbook 2019. New TrLiStees appointed by each Area Groiip electing one full meinbei to seNe as a Trustee for a period of three year5. A list of all TSt¢eS is available from Federation Hoiise. Ti ustees, Responsibijitles Statement The Trustees are requiied to prepare financial statemeiits for each financial year which give a tn]e and fair view of the state of affairs of the Federation and of the Surplusl(Deficit) of the Federation for that period. In preparing those flliallcial statements, the Committee is required to:_ select suitable accounting policies and theji apply them consistently. observe the methods and pIinciples in the Charities SORP (FRS 102). make judgements and accoiwtllig estitnates that are reasoiiable and prudent; and prepare the finallcial statements on the going concern basis unless it is inappropriate to presume that the Federatloll will continue in operation. Disclosuie of information to the auditors We, the tnistees of the charity who held office at the date of approval of these Financial Statements as set out above each Confirm, so far as we ar¢ aware that.. tbere is no relevlt audit illforn]ation of which the cbaritys auditQTS are unaware. we have taken all steps at we oughl to have taken as Trustees in order to make ourselves aware of any relevant audit information and to establish that the charity's auditors are aware of that inforniation. Auditors Dawson & Company offer themselves for Te-appointment at the Federation's Annual Meeting. The Federation's registered office is.. 2091211 Upper Lisbum Road Belfast BTIO OLL 4 of20 1211212022, 10-25
Page 5 FEDERATION OF WOMEN'S INSTITUTES OF NORTHERN IRELAND REPORT OF THE TRUSTEES CONTINUED Approved by the Trustees on 2Lf and signed on their behalf by: CHAIRPERSON Mi's Mai'oaret Bi'oome TREASURER Mi"s SheelacTh McRandal
Page 6 FEDERATION OF WOMEN'S INSTITUTLI S OF NORTHERN IREI LAND INDEPENDENT AUDITOR'S REPORT TO THE EXECUTIVE COMMITTEE OF THE FEDERATION OF WOMEN'S INSTITUTES OF NORTHERN IRELAND Opinion We have audited the financial statements of Federation of Women's Institiites of Noithei'n lieland for the year ended 31 August 2022 which compi'ise the statement of financial activities, balance sheet and notes to the financial statements. The financial repoiting fi-amework tliat has been applied iii tlieir prepai'ation is applicable law and United Kingdom Accounting Standards (United Kingdoin Genei'ally Accepted AccountincT Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable to the UK and Republic of Ireland and Charities SORP (FRS 102). In OLir opinion, except for the possible effects of the inatters desci'ibed in the Basis for qLialifLed opinion section of our i"epoit, the financial statements: give a true and fair view of tlie state of tlie Federation's affairs as at 31 August 2022 aiid of its incoming resources and application of resources, including its income and expenditure foi. the year then ended. have been properly prepared in accoldance with the United Kinodom Generally Accepted Accounting Pi'actice; and have been prepared in accordance with the requirements of the Chai ities Act (Northern Ii'eland) 2008. Basis for Qualified Opinion With respect to income for memberships and the Balmoral event, sufficient audit evidence was not available. We were unable to obtain siifficient appiopliate audit evidence reardIng the amount of this income usin(r othei. audit procedures. We conducted our audit in accordance witli Internatioiial standai.ds on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities undei. those standards are fui-thei. described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical i-esponsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient aiid appropriate to provide a basis foi. oui opinion. Who we are reporting to This i-epoit is made solely to the chai-ity's Trustees, as a body, in accordance with Part 4 of tlie Cliarities Accounts and Repoi'ts Regulations (Noithern Ireland) 2015. Our audit woi'k has been undertaken so that we might state to the chai'ity's Trustees those matters we are reqiLiL-ed to state to them in an auditoi-'s i-eport aiid for no other puipose. To tlie fullest extent permitted by law, we do not accept 01- assuine i'esponsibility to anyone otlier than the chai-ity and the chai-ity's Trustees as a body, for oui. audit work, for this report, or foi. the opinions we have formed.
Page 7 FEDERATION OF WOMEN'S INSTITUTES OF NORTHERN IREI LAND INDEPEIYDENT AUDITOR?S REPORT TO THE EXECUTIVE COMMITTEE OF THE FEDERATION OF WOMEN'S INSTITUTES OF NORTHERN IRELAND CONTINUED Conclusions relating to going concern We di.aw your attention to Note 18 which indicate that unceitainty exists which may cast doubt on the charity's ability to continiie as a going concern but that this doubt is not si(rnifLcant. Our opinion is not modified iii i'espect of this mattet.. Other Information The other information comprises the infoi'mation included in the Ti'ustee's Report, other tlian the financial statements and our auditor's repoit theieon. The Trustees are responsible for the other inforination. Our opinion on the financial statements does not cover the other information and, except to the extent othenvise explicitly stated in oui- iepoi't, we do not expi-ess any form of assurance coiiclusion thereoii. In coiiiiectioii witli our audit of the finaiicial statements, our i'esponsibility is to read tlie other infoi-mation and, in doing so, consider whether the other information is materially inconsistent with the financial statements or oui. knowledge obtained in the audit or othei'wise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detennine whether there Is a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to i'eport that fact. We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing to report in respect of the following mattei"s where the Charities Act (Noithern Ii'eland) 2008 I'equires us to i'eport to you if, in oui. opiiiion: the information given in the Trustee's Annual Report is inconsistent in any matei-ial respect with the financial statements. or the chai.ity has not kept proper and adequate accounting recoids; or the financial statements are not in agreement with the accounting records and returns. or we have not received all the information and explanations we requiL'e for audit.
Page 8 FEDLI RATION OF WOMEN'S INSTITUTES OF NORTHERN IRLI LAND INDEPLI NDENT AUDITOR'S REPORT TO THE EXECUTIVE COMllllTTEE OF THE FEDERATION OF WOMEN'S INSTITUTES OF NORTHERN IRELAND CONTINUED Extent the audit was capable of detecting irregularities, including fraud Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design piocedures in line with our responsibilities, outlined above, to detect matei'ial misstatements in respect of irregularities, including fraud. The extent to which our procedLires are capable of detecting irregularities, including fraud is detailed below: As part of designiiig our audit, we determiiied materiality aiid assessed the risks of matei-ial misstatement in the financial stateinents, includin(r how fraud may occur by enquiring of management of its own consideration of fraud. In particular, we looked at whei'e management made subjective judoements, for example in i'espect of significant accounting estimates that involved making assumptions and considering futuie events that al'e inhei-ently iincertain. We also considered potential financial oi. othei. pi'essures, oppoitunity and motivations for fraud. As part of this discussion we identified intei-iial controls established to mitigate risks related to fraud or non-coinpliance with laws and iegulations and how inanagement monitoi" these processes. We did not identify any key audit matters relating to iri'egularities, including fraud. Responsibilities of Trustees As explained more fully in the Trustee's Report (set out on page J), the Committee are responsible for the preparation of the fInancial stateillents and for being satisfied that they give a true and fair view. The Committee have elected for the financial statements to be audited in accordance with the Charities Act (Northei"n Ireland) 2008 rathei. than the Companies Act 2006. Accordintrly we have been appointed as auditor under section 65(3) of the Charities Act (Northern Ii-elaiid) 2008 and i-eport in accordance with this Act. Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fi'aud or eiror, and to issue an auditor's repoi-t that iiicludes our opinion. Reasonable assui'ance is a higli level of assurance, but is not a guai'antee tliat a11 audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstateinents can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
irelox IOUUL'.oian Page 9 FEDERATIOIY OF WOMEN'S INSTtTUTES OF NORTHERIN IRELAND INDEPENDENT AUDITOR'S REPORT TO THE EXECUTIVE COMMITTEE OF THE EDERATION OF WOMEN'S INSTtTUTES OF NORTHERN IRELAND CONTINUED A furtk]er description of our responsibilities for the audit of the finan¢ial statements is located on the Financial Reporting Council's website at www.fr¢.org.uldauditorsresponsibilites. This description fornis part of our auditor's report. Maurice Dawson Senioi. Statutoiy Auditor For and on behalf of Daivson & Company Chartered Accountants 171 Univeiyity Street Belfast BT7 IHR Date: 9 of 20 1211212022, 10:29
Firefox about.'blank Page 10 FEDEIUTION OF WOMI ENIS INSTITUTES OF NORTHERN IRELAND STATEMENT OF FINANCIAL ACTIVITIES FOR TItE YEI AR ETrIDED 31 AUGUST 2022 Note 2022 2021 llYCOME Membership Fees Colltributions To Federation Funds Gift Aid Grant Income Income FronLFederation ActLVitie5= Speci81 Undert8killg5 (Appendix l (Al) Magazille (Appelldix l (B)) Jnstithte Contributiolls To Iu5urance 42,744 7,904 5,506 8,280 44,051 6,179 5,506 22,967 4.824 4.727 6,459 27.791 11.723 11,186 10.630 Income FroD] Illyestellt. Dividelld5 Alld tutere5t OL IDvestments Gaill I IL055) On Disposal Of ItLvesttn¢nts G&in I IL055) On Revaluatioll Of Investments Bank Dep051t tnteiest 4,945 4.148 (15,811) 39 4.169 28,860 67 (6,679> 33,096 Dollations Towards Council M¢¢ting Expell5e5 1.506 300 Total Illcome 98.775 110,948 Oi'erbead Expety$e$ Staff Salaxies JRS Grants Ex Gratia Staff Pay£llents Recrnitment Costs Ground Rent Insurance Repairs And Renewals Water Rates Light And Heat Postage And Telepbone Statiollcry & Office Expenses Web51t¢ Costs Sub5fjriptions Auditor's Remun¢ratioll General Expens¢s Cleaning Exe¢utive & Sub-Con)mittee Travel Expenses Legal & Professional Fees DepreciatioJ] Bad Debts BankAnd Investment Charges Cowicil Meeting ExpeDse5 55.837 (713) 15,000 969 22 11.723 10.982 835 3,431 2.953 9.595 8.280 262 2,226 4,968 1,847 6.129 3.096 3.447 841 2,173 3,969 74,191 (19,701) 696 22 10.630 8.808 281 1,893 3,385 7,268 190 2.166 3.756 1.542 481 Ic+2 3,432 1,943 220 147,872 (49,097) 101,203 9,745 Surplu51(DefIcit) ofkncome th-er Expellditure Statement Of General Fund Balallce Broucbt FoThvard 372.381 362.636 Add.. Svrplusl(Defi¢it) Of Jocotne Over EKpellditure Balance CarriEd Forward 49.097 323,284 9.745 372,381 The notes on Pages 12 ts) 20 form part of these financial statements 10 of20 1211212022, 10:29
irerox dUUUL.'DIIIIIK Page 11 FEDERATION OF WOMEI N'S INSTITUTES of4 NORTHERN IREI LAND BALANCE SHEET AS AT 31 AUGUST 2022 Note 2022 2021 Flxed Asset5 Tangible Asset5 Investmellts 100,030 184,2lO 284,241 103,478 200.794 304,272 If+4(a) Cuii'ent A55etS Stocks Debtors & Prepaymenls Caskn al Bank and in hand 13,266 l6.063 52.884 82.213 14,226 9,617 71,993 9i,836 4(b) Cui'i'ent LIAbllltles Atnounls owing io A C W W Charities Creditors and ACCalS 13.693 18,055 31,748 8,931 8,467 17.398 Net Cui'i'ent Assets 50.464 78.438 Net Assets 334,705 382,710 FSn8nced by: General Fulld Sub-Con]mittee Funds Special Eld$ 323,284 600 10.821 334,705 372.381 600 9,729 382,710 14 APPROVED B Y THE LXECUTIVE COMI MITTEE CHAIRPERSON The notes on pages 12 to 20 foDll part of these fancial statements. Charity r¢gistralion uumber: 101656 11 of20 1211212022. 10-29
Firefox about.'blank Page 12 FEDERATION OF WOMEN'S INSTITUTES OF NORTHERN IRELAND NOTES TO THE ACCOUNTS Note I Accountlng Pollcies The following accounting policies have been used consistently in dealing with item5 which are considered material in relation to the Federation's financial statements: (a) Accounting Conventlon The financial statemeiits, wliich have been prepared under the histoiieal cost convention, are in accordance with relevant accounting St)dardS, the Charities Act (Northem Irelaiid) 2008, aiid the provisions of the Statement of RecomKnended Practice, "Accounting and Reporting for Chaiitie5" (FRS102). The fmallcial stat¢D]ents are prepared on a going concern basis. The financial statemeiits are prepared iii sterling which is the fiCtIOnaL currency of the charity. (b) Income Incoine consists of Contribiitions and Me]nbership Fees, Income from Federation activities. InconLe from Investments and Deposits are retained and are for the unrestricted iise of the Federdtion. Income collected for ACWW Charities are designated for that purpose. There are no restricted sources of Income. Income from bank interest is accounted for on a receipts basis. Contributioiis to meinbership funds and membership fees are also accounted for on a receipts basis. (c) Tangible Assets alld Depreclatlon Tangible Fixed Assets aTe stated at cost less accumulated depreciation. IAS 16 pern]its assets to be reported at cost, without revaluation, where value exceeds cost. Depreciation is calculated to write off the cost of thc Fixed Assets over the period of their useful lives, the principal rates being a5 follows: Fixtures and Fittings Computer Equipment & Sottware Website Property 250/0 Rediicing Balance 25 % Reducing Balance 250/0 Reducing Balance 2 % Straigbt Line 12 of20 1211212022, 10.'29
r Ireiox aDUUI.'Dian Page 13 FEDERATION OF WOMEN'S INSTITUTES or NORTHERN IRELAND NOTES TO THE ACCOUNTS CONTINUED (d) Stock Stock consists of goods for resale. Stock is valued at cost with provision being made to write down obsolete or defectkve stock to net realisable value. Replacement value of stock does not differ materially from book cost. (¢) Pensioll Scheme The FedeTation operates a Defined Coiitributioii Pension Scheme for employees. Premiulns are charged in tlie Accounts in the period to which they relate. (D Investments Investments are stated on the Balance Sheet at Market Value. Investments are lield primarily to piovide an illvestn]ent retum for the Federation. Realised and um"ealised gainsllosses arising on iiivestments are disclosed in the Statement of Financial Activities. Ig) Expendituie All expelld1e is accounted for on an accrnals basis and has been included under expense categories that aggregate costs related to that category. Note 2 Tangible Fixed Assets Com uteT ment & Software Fixtures & Fittin Cost Total Balance at 3118121 Additions Disposals Balance at 3118122 155,580 53,400 23,212 232,192 1,700 21,512 1,700 230,492 155,580 53,400 reciation Balance at 3118121 Charge for year On Disposals Balance at 3 118122 53,061 3,112 53,135 66 22,518 269 1,700 21,087 128,714 3.447 1,700 130,462 56,173 53,201 Net Book Value at 3 118122 99,407 199 425 100,030 Net Book Value at 3 118121 102,519 265 694 103,478 13 of20 1211212022, 10.'29
Firefox about.'blank Pa8e 14 FEDERATION OF WONL IEN'S INsTITrEs OF NORTHERN IREL2XND NOTE4 S TO THE ACCOUNTS Note 3 Particulars of Enjployees The average nuinbeT of persons employed by the Federatioll dwing the year was as follows:. 2022 2021 Administration The aggregate payroll costs of these persons were as follows:_ Wages and Salaries Pension Scheme Costs Social Security Costs 51,462 3,288 1,087 55,837 68,076 3,288 2,827 74,191 No employees recevie total employee benefits of more than £60,000. Note 4 Investments and Bank Deposits 2022 202 (a) Sterling Cash INF Public parer Oid GBPO.000. J O Hambio (Johcm Fnds UK Ltd I Allianz Glb Invest Strategic Bond Artemis Fd Mngrs Income E GBP I Aberdeen Std Fd Mg ASI UK Sm Threadneedl¢ Inves UK Equity Incf Blackrock EURPN Dy BR EURPN Blackrock FM Ltd Contl EURP Inc EmpllLC Student Greellcoat UK Wind JP Morgan Fiinds td US Eqiiity Inc BMO conercIal Pro Ord GBPO.I BNY Mellon Glb Fds Gbl Bd Fd S. Polar Capital Fd Scbroder Unit tst Asian Income L Schroder Unit Tst Asian Alpha Plu Franklin TmpLth Fd UK Hendersoll Investme Janus Royal London ufm HICL Infras]ctUr Ord Jupiter UT Mngrs European Z Inc Vanguard Funds Plc FfsE ALI Wo:, JP Morgan AM UK Ltd JP Moigan Fund Icvc JPM Gbl Ma Vanguard Funds PIC S&P 1,940 6,839 8,600 4,639 11,232 4,541 12,791 6,643 9,311 5,561 11,757 6,840 10,667 4,030 3,515 4,297 13,297 8,862 4,793 4,710 12,386 7,705 7.852 7,406 6,617 10,609 7.720 4,335 9,387 8,466 4.515 15,918 4,070 4,324 9,735 7,798 4,484 5,851 12,206 7,941 8,379 9,809 7,996 13,040 7,697 5,314 9,585 8,678 10,317 184,210 200,794 14 of20 1211212022, 10.'29
Iretox aDOUI.'Dianx Page 15 FEDli RATION OF WOMEN'S INSTITUTES ofi NORTHERN IRELAND NOTES TO THE ACCOUNTS CONTINUED Investments are included at Market Value, as calculated by lllvestec Wealth & JnvestmenL at 3 1st August 2022 2022 2021 (b) Danske Bank Current Account Dallske Bank- Business Illvestment Account Danske No 2 Deposit Account Cash in Hand 27,227 53,859 17,840 7,518 300 52,884 17,834 300 71,993 Note 5 Stocks 2022 2021 Home Craft Spinlling Wl)eel Award Stationery For Resale Badges & Key-Rings Napkills & Diaries W I Souvenirs Cookery Books Scarv¢s 980 2,249 1,186 450 3,053 4,698 650 1,370 2,716 1,369 205 2,913 5,653 13,266 14,226 Note 6 Debtors 2022 2021 Trade Debtors Prepaym¢nts 4.440 11,622 16,063 3,050 6,567 9,617 15 of20 1211212022, 10.'29
Firefox about-blank Page 16 FEDEI IL4TION OF WOMEN'S INSTITUTES OF NORTHERTrI IRELAND NOTES TO THE ACCOUNrs CONTINUED Note 7 Amounts Owlng To A C W W Charlties enui Balance 0110912021 Pa ts e1]tS Closin diiriLI balance ear 3110812022 durin ear Pejmies for Friendship Project Support 474 8,457 8,931 2,277 8,075 10,352 (1,300) (4,290) (5,590) 1,451 12,242 13,693 The movements on the above accounts have not been reflected in the Statement of Financial Activities for the year. Note 8 Creditoi"s: Amounts Falllng Due Within One Year 2022 2021 Taxation and social seclty Accnials Defeed Income 2,409 13,926 1,720 18,055 2,456 5,741 270 8,467 Note 9 Sub-committee Funds 2022 2021 loo 200 loo loo 100 LOO 200 100 loo loo Home Crafts Home and Garden tntemational Magazine 600 600 16 of20 121I212022, 10:29
Ireiox (IUUUL.UldllA Page 17 FEDERATION OF WOMEN'S INSTITUTES OF NORTHERN IRELAND NOTES TO THE ACCOUIYTS CONTINUED Note 10 Auditor's Remunei?tRon 2022 2021 Fee5 payable to the company's auditor 2,226 2,166 Note 11 Ex-Gratla Payments Irene Sproule received an ex-grat13 payment of £15,000 as recognition for the hard work and dedication given to the Federation of Women's Institutes of Northen Ireland. Note 12 Tiustee Remunei'ation Trustee5 did not receive any remuneration or other benefit5 from employment. Trustee5 are reimbursed for travel expense5 and a150 for expenditure incurred on behalf of the Federation. During the year £5,045 was reimbursed to Trustees for travel expenses. Note 13 Deferi'ed Income A grant of EIO,000 was received from The National Lottery Community fund for the creation of a new website. Of this, £1.720 has been deferred as the expenditure as not yet been incurred. Note 14 Special Funds eniii Balance 0110912021 Recei diirin(y ts durin Balance 3110812022 ear ear Internatlonal FITnd (ACWW Travel) 9,729 9,729 1,091 1,091 10,821 10,821 The inovements on the above accounts have not been reflected in the Statement of Financial Activities for the year. 17 of20 1211212022, 10:29
Firefox about.'blank Page 18 FEDERATION OF WOMEN'S INSTITUTES OF NORTHERN IRELAND NOTES TO THE ACCOUNTS COIYTINUED Note 15 Property The property is registered in th¢ names of the Trustees and is held in trnst by these Trustees on behalf of the Federation. Note 16 Related Pai'ty Ti'ansactions. Committee Members of the Federation, as member5 of the WI, have paid subscription fees to their local WI, part of which is passed on to tbe Federatlon. A related party transaction took place in the year when a family member of a Trustee did work for the Federation at a total cost of £500. Note 17 Otber Information In common with many other charities of this size and nature we use our auditors to piepa¥¢ and assist in the preparation of our fillancial statelnellts. Note 18 Goino Concern The Federation has suffered a large deficit of £49,097. This creates doubt regarding the going concern of the entity. However, the charity has sufficient reserves and for these reasons it is the Trustees, conclusion that there is no material uncertainty that may cast sigllifIcant doubt on the entity4s ability to continue as a going concern. 18 of20 1211212022. 10:29
iretox about: blank Page 19 FEDERATJON OF WOMEN'S INSTITUTES OF NORTHERN IRELAND APPEIYDIX IA- INCOME FROM SPECIAL UNDERTAKINGS 2022 lusl Deficit 2021 Deficit lu Arts Sub-committee 784 (o) Homecraft 2,442 {559) Honie and Garden (5,236) 1,842 Magazine and Leisure Sub-committee 974 34 Balmoral Show 22,151 5,030 Stationery 372 413 W I Souventrs 1,075 (2,320) Cookery 740 229 Engraving of Awards (17) 58 90th ALmiversary (318) 22,967 4,727 19 of20 1211212022, 10:29
Firefox about:blank Page 20 FEDII RATION OF WOMEN'S INSTITUTES ofi NORTHERN IRELAND APPENDIX IB - INCOME AND EXPENDITURE FROM ULSTER COUNTRYWOMAN MAGAZINE 2022 2021 Income: Sale of Magazines 26,344 20.644 Advertising Revenue 2,790 2,050 Total Income 29,134 22,694 Expendlture: Printing Costs 24,310 16,235 Bad Debt Provision Total Expenditure 24,310 16,235 Net Surplus 4,824 6,459 20 of 20 1211212022, 10:29