ClIHrity Registration Number 101656 FEDERATION OF WOMEN'S INSTITUTES OF NORTHERN XRELAND AUDITED FINANcL STATEMENTS YEAR ENDED 31 AUGUST 2024 MB MCGRADY & CO CHARTERED ACCOUNTANTS SUITE 2B CADOGAN HOUSE 322 LISBURN ROAD BELFAST BT9 6GH TELEPHONE (028) 90316950
FEDERATION OF WOMENIS INSTITUTES OF NORTHERN IRELAND YEAR ENDED 31 AUGUST 2024 CHARITY REGISTRATION NUMBER 101656 CHAIRPERSON Mi's Brenda Richai'dson VICE CHAIRPERSON Mrs Rosemary McAllister HONORARY TREASURER Mrs Sheelagh McRandal TRUSTEES OF FEDERATION HOUSE Lady Anthony Hamilton Mi's Hilda Stewart REGISTERED OFFICE 2091211 Uppei. Lisburn Road Belfast BTIO OLL AUDITORS M.B. McGI'ady & Co Suite 2B Cadogan House 322 Lisburn Road Belfast BT9 6GH BANKERS Danske Bank Doiiegall Squai'e West Belfast BTI 6JS SOLICITORS Diamond Heron Diamond House 7-19 Royal Avenue Belfast BTI IFB Page 2
FEDERATION OF WOMEN'S INSTITUTES OF NORTHERN IRELAND REPORT OF THE TRUSTEES The Triistees pi'esent theii. Report and the Audited Accounts of the Federation for the year ended 31 August 2024. The financial stateinents, which have been prepai'ed undei. the histoi-ical cost convention, are in accoi'dance with I'elevant accounting standards, the Charities Act (Noi'thei'n Ii'cland) 2008, and the provisions of tlie Statement of Recommended Practice, Accouiiting and Repoiting for Cliarities (FRSI 02). Refei-ence aiid Administi'ative details cali be found on page 2 along with the Ti'ustees wlio seived dui'ilig the yeai. below. The Ti'ustees The ti'ustees who served the chai'itable organisation during the period were as follows: M Bi'oome (Chair) (Retii-ed 2810312024) M Dai'rali B Richai-dson (Chair) (Appointed 2810312024) R Fari'elly K Vei-nci. (Vice Chaii.) (Retii'ed 2810312024) T Feeney R McAllistei' (Vice Cl)aii') (Appointed 2810312024) S Lyons S McRandal (Treasurer) (Appointed 2810312018) R Cai'roll H Adamson (Retired 2810312024) A Elliott (Retii-ed 2810312024) (Retired 2810312024) E McKinty (Retii'ed 2810312024) H McKee (Appointed 2810312018) J Gi'aliam (Appointed 2810312018) J Siiiytli (Retii'ed 2810312024) J Waiiiwl'ight (Retii'ed 2810312024) J Kells (Appointed 1010612021) M Muni'o (Appointed 1010612021) M Gibsoii (Retii'ed 2810312024) V Mcconiiell (Retired 2810312024) (Appointed 1010612021) (Appointed 1010612021) (Retii-ed 1110612024) (Appointed 1010612021) (Appointed 2810312024) (Appointed 2810312024) (Appointed 2810312024) (Appointed 2810312024) (Appointed 2810312024) (Appointed 2810312024) (Appointed 2810312024) (Appointed 2810312024) (Appointed 2810312024) (Appointed 2810312024) (Appointed 2810312024) J Beattie A Hiintei- L Dowds S Ledlie V Little M Mccracken L Ropei. L Mccliire C Rankin P Robiiison R Savage Objeetives and Activities The Fedei'atioii's mission is. To unite in pi-omoting any woi'k which Inakes foi. tlie bettei'ment of oui. lioiiies, and tlie developiiieiit and iinpi'oveiiient of I'ui'al aiid iii'baii life tlii-ougli social and ediicational activities. Tlie pui'pose of the Federatioii is to provide ali ol'ganisation and sti'uctui'e to ei)able women to take a mol-e effective pai't in tlie life of the I'ui'al and iii'baii coinmiinity. This is acliieved by pi'oviding oppoitiinities foi. lifelong leai'ning by encoiiraging pai'ti¢ipation in aits, handct'afis, hoiiie ski Ils, leisui'e pui'siiits, sport and othei- activities. Page 3
FEDERATION OF WOMEN'S INSTITUTES OF NORTHERN tRKLAND REPORT OF THE TRUSTEES CONTINUED Thesc objectives comply with the Charlties Act (Noithern Ireland) 2008 legal i-eqiiirement that all chai-ities have purposes tliat are for the publ ic benefit. Achieveihents and Pei'formance The Federation contiiiued to build on the progress of the previous year in stabilising oui. meinbership nuiiibei's and encoiii'aging fftiienibei's to coiiie back to the various activities tliat we liold. Two FWTNI Council meetiiigs al'e held each yeai.: The Autuiiin Council Ineetiiig took place ftn the Manor House Hotel, Killadeas OTY 28 October 2023 when we had an addi'ess by Clai'e Ai'clibold, Dii-ector of Ending Violence agaiiist Woiiien and Girls, wlilch will inforin our cainpaigii to ovei'coine this evil. The Annual Genei'al Meetiiig was held as usual in the Eui'opa Hotel, Belfast, on 28 Mai'ch 2024 with 241 attending, a welcome inci'ease. This was a landiiiai'k meeting as it was decided that the Fedei'ation should incoi'porate. At botli events tlie Sub-committees Iiad displays of their woi'k. A majoi. step iii iinpi-oving oui- coiiiinunication with nieinbei's aiid the public was the laiincli of oiir new website. Apart froin news and repoits on our activities it pi-ovides the inforniation on all aspects of tlie Fedei'atioii wliicli is miich needed by the Institutes. With a wide l'ange of activities to oversee, the Executive Cotninittee is assisted by six Sub-cominittees. Theii. diverse activities wei'e: Ai'ts The Festival of the Spoken Wol'd Iield on 14th Octobei. 2023 in Teiiiplepatrick Presbytei'ian Cliui-cli Hall. Thei'e wei'e six classes ranging froin a pi'epared speecli to a poem wi'itten by a WI member. The 31 enti'ants wei-e well suppoi'ted by fellow meinbers, fainily and fi'iends. Tlie Annual Ai-ts Festival aiid Coffee Morning was lield at Fedei-ation House, on Fi'iday 9t]) Febiiiaiy 2024. Tliis is wliere nienibers entei'ed tlieii. paintiiigs, calligi-apliy, 3d decoupage aiid liandwi'iting on the tlieme Natui'e's Syinpatliy. Tlie judges were most impi'essed by tlie liigli standai'd of tlie woi'k displayed. Ovei" sixty Inembei's attended. The Music Festival was held at out. usual venue at Teniplepati'ick on Saturday 27tli Api'il 2024. Seveii choii's competed in seven diffet'eiit Classes, fi'om choi'al folk to saci'ed, Iniich to the eiijoymeiit of tlie audieiice. Page 4
FEDERATION OF WOMEN'S INSTITUTES OF NORTHERN tRELAND REPORT OF THE TRUSTEES CONTINUED We wei-e disappointed that we weren't able to hold a Di'aina Festival this year as there were not enough entries due to difficulty with the dates. Balmoi-al Show is ali opportunity foi. nieinbcrs to display tlieir ait to tlie public at the Fedei'ation Exliibition Ai'ea. Thei'e is a siiiall cliarge of lianging fee of £2 and 20% of any picture sold goes to WINI fui)ds. I I paintings wei'e sold. Balmoral The Balmoi'al Sliow is always an iinportant event in tli¢ Mri calendai.. We wei'e once again acconiinodated in the aiiiiex beliind the Eikon Centre at Baliiioi'al in 2024 foi. tl)eii- 155th show. As well as being the second major source of income foi. tlie Federation, tlie Show, with its thousaiids of visitoi's, pi'ovidcs the oppoi'tuiiity to showcase oui. activities, the creative skills of oui. IT]embei's and gives the entire membei'sliip the oppoituiiity to coiiti'tbute. Witli so inaiiy otlier food oiitlets and number of stalls aroiind us making the WINI difficiilt to find, disappointingly. our iiicoiiie was slightly down this year. Home and Garden The City of Belfast Aiitumn Flowei- Show which takes place eacli yeai. in tlie Botanic Gai'dens, Belfast was held foi. the fil'st tfftinc aftei. Covid in Septeinber biit with a much I'educed prograinme and at shoit notice. We did not hav¢ tiine to take part in the coinpetitions bllt had an infoi'ination stand. In Novenibey tlie populai. Chi'istiiias Event took place in Ariiiagh City Hotel, with over 400 ineiiibei's taking part. We l)ad deiiionsti'ations aiid a wide variety of stalls to lielp with tlie Clii'isÈiiias Shopping. Evely yeai. the Sub-committee helps The Young Farmers Clubs with theil. Hoine Manageinent Coinpetitioiis. This year was iio exception with ineinbei's setting questioiis for its jiinior and senior papei's. We wci'e deliglited to take pat't oiice again in the Balmoi'al Sliow oi'ganising baking and floi'al competitioiis. Tlie Siib-committee coiitinued to ovei'see the Fedei'ation's against Climate Change campaign. Hoineci'aft Dui'ing the months of October to Mai'ch, items of membei's, woi'k, iii 27 categories are siibinitted for judging. Uiifoi-tuiiately, items wei'e down this yeai. with oiily 178 ci'aft items i'eceived. Howevei-, the quallty of items was up with 30 A+ and 126 A awai'ded. At tlie Balmoi'al Sliow, tlie Hoinecraft Siib-conimittee piit oli a display of tnembei's, work and iiienibers were oti liand to answei. qiiestions and promote ci'aft. It also had a very successful sales table of knitted toys and otlier itciiis niade by tlie meinbers. As ever the coinpetitions wei'e well suppoi'ted. Page 5
FEDERATION OF WOMEN'S INSTITUTES OF NORTHERN IRELAND REPORT OF THE TRUSTEES CONTINUED 26 members attended a one-day school in September and anothei. Christinas one-day school at the end of November. The lattei. atti'acted 37 attendees. A veiy successthl I'esidential weekend was lield in Diiinialis Retreat and Coiifei'ence Ceiitre in Larne on 22nd - 24th March with 33 attending. International The Intei'national Sub-committee held its Woi'ld Rural Women's Day / Anniial Genei'al Meeting at the Manoi. House Countiy Hotel, Killadeas 011 28th October 2023. Over one huiidi-ed members were preseiit to heal. an addi'ess by Woi-ld Pi'esident, Magdie de Knock fi'om South Afi'ica. In Mai'ch, Woiiian Walked tlie Woi'ld as Institutes lield spoiisoi'ed walks in support of ACWW. Oui. membeys continued to J'aise funds to suppoit ACWW projects and in Febi'uaiy 2024 £9,433 was sent to suppoit the ACWW pi'ojects thi'oughout the woi'ld and its i'unning costs. Magazine and Leisure This Sub-Comiiiitt¢e is I'esponsible for the piiblication of oui. iiionthly magazine, Tlie Ulster Countiywoinaii, whicli iiiade ali iiicreased sui'plus this yeai., iiiostly due to tlie I'eduction iii the iiiiiiiber of issues. Tlie fii-eside quiz, tlie Sci'apbook , Phyllis Galley Litel'aiy and competitions foi. vai'ioiis items in the Magazine wei'e all well suppoi'ted. 19 Areas coinpeted iti the fEnal of the bowliiig coiiipetition held in Connoi. Pi'esbyterian Cliurch in Api-il. Tlie Quiz saw 20 teaiiis conipeting in Annaglimoi'e Pai'isli Cliurcli and tlie Golfei. of tlie Yeai. was held at Tlie Riv¢i'side Course in Poitstewait. Tlie last competitioii of the yeai. was the photographic coinpetitioii witli the subject "All iii a l'ow" aiid a I'ecoi'd enti'y. Stl'llcture, Governance aiid Managenient The Fedei'ation of Women's Institiites of Noi'tliei'ii Ireland (The Fedei'ation) is an organisation wliich encoui'ages woiiien to take a iiiore effective pai-t in the coniiiiunity. This is doiie thi'oiigli a network of Woineii's Institutes, witli a total membei-ship of soinc 3,420 active thi'ouglioiit Northei'n Ii'eland. TheiE al'e 127 Instilutes, grouped in tweiity- one ai'eas, i-egistei'ed witli the Fedei'atioii, which opei'ate in accoi'dance with tlie Constitiition and Rules foi- Wonien's Institiites 2019 laid down by tlie Coiiiicil of tlie Fedei'alion. Each member pays a meinbei'sliip subsci'iption to the Fedel'atioii, aiid all al-e covered by insuraiice ai'i'anged by tlie FederaÉioii. Page 6
FEDERATION OF WOMEN'S JNSTITUTES OF NORTHERN IRELAND REPORT OF THE TRUSTEES CONTINUED Each Ai'ea Executive Jnembei. is i-esponsible foi. overseeing the correct management of hei. Institutes. Comprising a delegate fi'om each Institute and the Iiieinbei's of the Executive Committee, the Council foi'ms the policy of the moveinent, the adininisti'ation of which is carried out by tlie Executive Cominittee made lip of an elected i'epresentative froin eacli Area; tliey are the Ti-ustees. Thei'e is one I'epi'esentative fi'om each of tlie Ulstei. Fai'tnei's, Uiiion and the Young Farmei's, Clubs of Ulstei. on ihe Executive Committee and the Fedei'ation has a repi'esentative on NICVA and the Women's Foi'uin. Appi'opi'iate training and iiiduction is available to all trustees. The FMttNT is an active constituent ineinber of The Associated Country Women of the World (ACWW), whicli is an liiternational Non-Governinental Orgatiisation, registered with the Uiiited Nations, tliat pursues its charitable objectives, tlie I'elief of poverty, the I'elief of sickness and the pi'otectioii and pi-eseivation of heath and the advancement of education, through its membei. societies, individual membei's and netwoi'ks of other non-member Non-Governmental Organisations. Financial Review We continue to face many financial challenges as Ive al'e not iinmuiie to the effects of inflation. Oui. total incoming i'esoui'ces foi- the yeai. ended 3 1st August 2024 wei'e £163,966 (2023 £102,62J) and overhead expenses of £138,959 (2023 £144,811) which gave us a siii-plus of £25,007 against the previous year's deficit of £42,188. Reseyves at the yeai. end total £315,568 compai'ed to £290,086 as at 3 1st Aiigust 2023. The Executive Coinmittee has had to make Inany difficult decisions and is veiy awai-e of its diity to iiianage the FWI finances pi'iidently, taking a long terin as well as a slioi-t-tei'in view and decisions iiiust be in tlie best intei'ests of tlie chai-ity. In tliis context, the I'eset'ves policy is ciii-i'ently being A'eviewed to ensure it is in accordance with tlie strategic requirements of the orgaiiisation. Future Plans Stl'Ategic Plan Oui- top priority is to pi'epare a tlii'ee-year sti'ategic plan. Tlie WtNI is standing still, At needs new members and to embi-ace Iiew teclinology. We liave a Lotteiy gi-aiit to lielp fund tliis pi'oject. Communication We iiiust impi'ove coinmiinication witli oui. Ineinbei's. The new webslte lias helped but thei'e is iiioi'e to do. Establisliing a database of Ineiiibet's will lielp aiid again, it is a pi'iority and we liave Lottery fiinding for it. Page 7
FEDERATION OF WOMEN'S INSTITUTES OF NORTHERN IRELAfiD REPORT OF THE TRUSTEES CONTINUED Limited Company At the AGM, the membei's voted to become iiicoi'poi"ated, we must work to achieve this. Public Relations If we are to Inove foi'wai'd we ftieed to iiiipi'ove our piiblic image and woi'k to attract new menibers. We need to budget for it. Balmoral Show Over the past couple of yeais we have been working hai'der and hardei. to stand still, we need a coinplete rethink of what we do and how we do it. Federation House Oiii- Headqiiarters, Fedei'ation Hoiise, is badly in need of maiiitenance and i'edecorating. We will be applying foi. the National Lottery Sustainable Coininunity Buildings Grant. Campaigns We need to put more effort into oui. campaigns, Ending Violence against Women and Gil'ls and WI Against Cliinate Change, and encoui'age oui. Ineinbei-s to do more to suppoit them. Page 8
FEDERATION OF WOMEN'S INSTITUTES OF NORTHERN IRELAND RPORT OF THE TRUSTEES CONTINUED Trustees, Respoiisibilities Staternent The Ti-ustees are i'esponsible foi. pi'epai'ing tlie Ti'ust¢¢s' Annual Repoit and the financial stateiTients in accoi'daiice witli applicable law and United Kingdom Accounting Staiidai'ds (United Kingdoni Generally Accepted Accounting Practice). The law applicable to cliai'ities in Northern Ireland i'equires tlie Trustees to prepare financial statenients for each financial year wliich give a true and fair view of the state of affaii's of the charity and of tlie incoiiiing resoui'ces and applicatioii of resoiirces of tlie chai'ity foi. that pei'iod. In pi'eparing these financial statenients, the Triistees are i'equired to: select suitable accounting policies and tlieii apply thein consistently. obSee tlie nietliods and pi'inciples in the Cliarities SORP (FRS102)' make judgements and estimates that al'e i'easonable and pi'udent. state whether applicable accounting standards have beeii followed, subject to aiiy depai'tures disclosed aiid explained in the fInancial statements. and pi-epare tl)e accoiints on the going coiicern basis unless it is inappropi'iate to pi'esiime tliat tlie cliarity will continue iii business. Disclosure of inforrnation to the auditoi's We, tlie triistees of tlie chai'ity who lield office at the date of appi'oval of these Financial Statements as set oiit above each confii'm, so far as we al'e aware that: thei'e is no relevant audit infoi-lnation of which the chai'ity's auditoi's al'e unaware. and we have taken all steps that we oiight to have taken as Triistees in ordei. to niake oui'selves awai'e of any i'elevant audit infoi'mation and to establish that the chai'ity's auditoi-s are awai'e of tliat infoi'inatioii. Approved by tlie Ti'ustees on and signed on tlieii. behalf by: CHAIRPERSON Mi's Bi'enda Richai'dson TREASURER Mrs Slieelagh McRandal Page 9
FEDERATION OF WOMEN'S INSTITUTES OF NORTHERN IRELAND INDEPENDENT AUDITOR'S REPORT TO THE EXECUTIVE COMMIThEE OF THE FEDERATION OF WOMEN'S INSTITUTES OF NORTHERN IRELAND Opinion We have audited the fii)ancial slalenients of Federalioii of Wonien's Institutes of Northern Ireland for the year ended 31 Augiist 2024 which Coihprise the Statenient of Financial Activities, the Balance Sheet and notes to Ilie financial statemeiits, including a suiiimary of significant accounting policies. The financial repoi'Éing fi'amework that has been applied iii their preparation is applicable law and United Kingdom Aceoiii)ting Staiidards (United Kii)gdom Generally Accepted Accouiiling Practi¢e), including Fii)ancial Repoi'ting Siaiidard 102 'Tlie Financial Repoiting Staiidai-d applicable to tlie UK and Republic of Ii'elaiid and Chai'ities SORP (FRS 102). In oui. opii)ion, the financial stateiiients.. give a true and fair view of tl)e state of the Federation's affaii's as at 31 August 2024 and of its incoining resourees and applicatioi) of resoui'ces, including ils inconie and expei)diture for the year tlien ended. have beeii properly prepared in accordance with the United Kingdom Generally Accepted Accounting Practice. and have been prepared in accordance with the i'equiremenls of the Charities Act (Northern Ireland) 2008. Basis foi. Opinion We conducted our audit in a¢¢oi'dance with Intei'national Standai'ds on Auditing (UK) {ISAs {UK)) and applicable law. Our respoi)sibilities undei. those standards al'e furilier described in the Aiidilor's responsibilities for the audit of the financial statements section of oiii. repoit. We are iiidependent of the charity in accoi'dance with the ethical requireiiients Ilia¢ are i'elev8nt lo our audit of tlie financial stateiiients in tlle UK, iiicluding the FRC'S Etliical Standard, ai)d we have fulfilled our othei. ethical respoiisibilities iii accordance willi these I'equil'ele1lts. We believe tliat tlie aiidit evidence ive have obtained is sufficient and appropriate to provide a basis foi. oui. opinion. CoTJclu5ions i'elating to going eoncei'n In auditing Ilie fii)aiicial slatenients, Ive l)ave concliided tllat the Ti'ustees, use of the going eoncern basis of accountiiig in Ilie preparation of the financial statements is appropriate. Based on the ivork we have perfornied, Iv¢ l)ave iiot identified any niatei'ial uncerlainlies relatii)g to events or conditions that, individiially oi. collectively, may cast significant doubt on the company's Mbility to conliniie as a goiiig concei'n for a period of at least 12 Inonths from ivhen the financial stalen)ents are autliorised for issiie. Oiii. responsibilities aiid the responsibilities of tlie Trustees with respect to going concern al'e described in ihe relevant sections of tl)is report. Page 10
FEDERATION OF WOMEN'S INSTITUTES OF NORTHERN IRELAND INDEPENDENT AUDITOR'S REPORT TO THE EXECUTIVE COMMITTEE OF THE FEDERAT10Tr4 OF WOMEN'S INSTITUTES OF NORTHERN IRELAND CONTINUED Other Information Tlie otl)er information comprises tlie information incliided in the Trustee's Report, otlier Ilian tlie fiiiaiicial statements and our auditoi s I'epoi'l thei'eoii. Tlie Trustees are responsible for the other inforination contained ivithin Ihe Trustees, Report. Our opinioii oti Il)e financial slateinei)ts doe5 not cover the othei. information and, except lo tlie extent oih¢rwise explicitly slated in oui. report, we do not express any form of assiirai)ce conclusion thereon. In coni)ection willi our aiidit of Ilie financial statemeiits, oui. I'esponsibility is lo read tl)e otl)ei- inforniation and. in doing so. consider whether the other inforniatioi) is ttiaterially iiiconsislent with the financial stateiiienls or oui. knowledge obtained in the audit oi. othei'ivise appears to be materially misstated. If we identify such material inconsistencies or appai'ent material i))isslalements, we are required to delerniiiie ivhether this (vives I'ise to a material Inisstatenient in the financial statements themselves. If, based on the work we have performed, we concliide that there is a niaterial niisstalement of tliis other iiiforination. we are required to report that fact. We Iiave not]iing to report in Ihis I'egard. MAttei's on which Jve are required to report by exception In tlie liglit of tl)e knowledge and understandints of the cliarity and its environniei)t obtained in Ilie course of Ili¢ audit, we liave iiot identified material misstalements in ilie Report of the Trustees. We have nothing to report in respect of the following matters where the Chai'ities Act (Northern Ireland) 2008 reqiiires lis to report to you if, in oiir opinion.. Ilie inforniation given in the Ti'ustee's Annu31 Report is iiiconsistent in any iiialerial respect iviili tlie finaiicial slateinents. or tlie cliai'ity lias not kept proper and adeqiiate accounting recoi'ds; or the financial stalei))enls are iiot in agreement with tl)e accounting I'ecords and returns. or we liave not received all the inforn)ation and explanations we require for audit. Responsibilities of Tl'ustees As explaiiied more fully in ilie Trustee's Report {set out on page 3-8), Ilie Trustees are i'espoiisible foi. tlie preparation of the financial stateniei)Is and for being satisfied that tliey give a tnie and fair vieiv, and for sucli interiial conti'ol as the Trustees determine is necessary to enable the prepai'ation of financial statements that al'e fl'ee fi'oni Inaterial misstatement, wlieilier dlie to fi'aiid oi. ei'ior. In preparing tl)e fii)ancial stateiiients, the Ti'ustees al'e responsible for assessing Il)e charity's ability to continue as a going concei'i), disclosiiig, as applicable, mattel's I'elated to going concei'n and iising the going concern basis of ac¢ountii)g unless the Trustees eithei. intend to liquidate the chai'ity or to cease operations, or have no realistic alternative but to do so. Pagell
FEDERATION OF WOMEN'S INSTITUTES OF NORTHERN IRELAND INDEPENDENT AUDITOR'S REPORT TO THE EXECUTIVE COMMITTEE OF THE FEDERATION OF WOMEN'S INSTITUTES OF NORTHERN IRELAND COTr4TINUED Our responsibilitles foi, the Audit of the finAncial stAtements Our objectives are to obtain reasonable assurance about whetlier tlie finaiicial slatei))ents as a wliole al'e free froin matei'ial Inisstatenient, whether due to fraiid or error, and to issue a Report of the Independent Auditors that includes oui. opinion. Reasoilable assurance is a Iiigl) level of assurance, but is not a guarantee that an audit conducted in accoi'dance with ISAS (UK) will always detect a material misstaleinei)I wheii it exists. Misslateiiienls can ai'ise fi'oin fraud oi. error and are considered Inalerial if, individually or in aggregate, tliey Could reasonably be expected to influence the economic decisioi)s of users taken on tl)e basis of these fiiiancial statements. Extent the audit wa5 eapable of detecting irregulAI'ities, including fraud Irregiilarities, including fi'aud, al'e instances of non-compliance with laws and I'egulations. We design procedures in line ivitli our responsibilities, outlined above, to detect material iiiisstaleiiienls in respect of irreuularitieg. incliiding fi'aud. The extent to whicli Olir procediires are capable of delecting irregulai-ities. inclliding fraiid is detailed beloiv: Fn assessing and detecting irregularities of non-compliance witl) laivs ai)d I'egulations we considei'ed tlie following.. • the mattel's discussed ainoiig tlie audit engageinei)t team aiid any other relevaiit professionals regarding how and Ivl)ei'e fraud niight occui- in tl)e financial slatemeiits and any potential indicators of fraud. the natui'e of the environment and any laws and regulations applicable to the cliarity and the eiiviroiinienl. the chai'ity's own assessment of the risk of fraiid and othei. iri'egulai'ities. charity's policies and procedures in I'elation lo.. liow they identify and coniply with all relevant laws and reuulations xnd ivheiher they are aware of any non-compliance. l)ow Iliey delecl and respond lo risks of fraud and their knoivledge of any actual, suspected oi. alleged fraud; control environniei)t wiiliin the cliarity and hoiv this iiiiligates risks of fraud and instances of noii-compliance with laws and regulations. As a result of these procedures, we considered the opportunities and incentives that may exist withiii the 01-ganisation foi. fraiid and identified the gi'eatest potential foi. fraud in relation to cash handling. li) common witl) all aiidit5 uiider ISAS (UK), we are also reqiiii'ed to perforni spe¢ifi¢ procediii'es to respond to Ilie risk of manageinent ovei'ride. In response to tl)e risk of material niisslalen)enl tl)I'ougli irregiilarilies and iion-conipliai)ce with laws and regulations, Ive designed procedures which included, biit were iiot lin)ited to.. ensuriiig Ilie en(Fagement teani liad tlie appropriate knowledge and expertise in order to be able lo identify and recognise any instances of fralid oi. non-compliance witli laws and I'egulations- we identified Il)e laws and regulations applicable to tlie coi)Ipany tlirougli discussioiis witli direcloi's and nianageinent and fi'om our knowledge and expei'ience of the sector. Page 12
FEDERATION OF WOMEN'S INSTITUTES OF NORTHERN IRELAND INDEPENDENT AUDITOR'S REPORT TO THE EXECUTIVE COMMIThEE OF THE FEDERATION OF WOMEN'S INSTITUTES OF NORTHERN IRELAND CONTINUED eiisui'ing the audit was carried out wilh a level of pi'ofessional scepticism thioughout. In response lo the risk of irregularities aiid non-compliance with law5 aiid regulations, we designed procedure5 wliicli included, but wei'e not limited to.. enqiiiring of Inanagemeiit coi)cerns of actual and potential litigaÉion and claiins. agreeing ilie financial slatenient disclosiires to underlying suppoi'tints docuinei)lation to assess compliance willi relevant laws and regulations. i'eviewing cori'espondence willi HMRC and other relevant i'egulators, tlie compaiiy's legal advisors and funders. To address the I'isk of fraud thioligh management bias and ovei'i'ide of coi)ti'ols, we: Verify tlie existence of employees,. perfoi'in analytical procedures to identify any unusual or iinexpected relationships that iiiay indicate risks of material inisstatement due lo fraud. obtaiii an undei'standing of pi'ovisions eg recoverability of debtoi's. lest the appropriateness of journal entries and other adjuslnienls. assess whethei. the jiidgeineiits niade in Inakinu accounling estimates al'e indicative of a potential bias. and evaluate tlie business rationale of any significant transactions that are uiiusual or outside tl)e nori))al eoui'se of business. We also coniinunicated relevant identified laws and regulations aiid polential fraud risk to all eiigagenient teani meinbers and significant component aiidit teains, and I'emained alert to any indications of fi'aiid or non-compliance witl) laws and regulations throughout Il)e audit. There are iiil)erent liiiiitalions in oui. audit procedures described above. Tl)e iiiore reiiioved Iliat laws and regiilations are froni financial transactioiis, Ilie less likely it is that we would become aware of non-compliance. Auditing standai'ds also liinit the audit procedures I'equii'ed to ideiitify non-compliance with laws and I'egulations to enquiry of the Trustees and otl)er nianagenient and tl)e iiispectioi) of I'egulatory and legal correspondence. if any. Material niisslatemenls tliat arise due to fraud can be harder to detect tlian Iliose tliat arise from errol. as tliey Inay involve deliberate concealment of collusion. A further description of our i'esponsibilities for the audit of th¢ financial slatemei)Is is located on the Fiiiancial Repoi'ling Coiincil's website at www.fi'c.oig.Iik/aiiditorsrepsonsibiliti¢s. This desci'iption foi'ins pai't of oui. Repoit of tl)e Audiloi's. Page 13
FEDERATION OF WOMEN'S INSTITUTES OF NORTHERN IRELAND INDEPENDENT AUDITOR'S REPORT TO THE EXECUTIVE COMMirfEE OF THE FEDERATION OF WOMEN'S INSTITUTES OF NORTHERN IRELAND CONTINUED Use of our report Tliis report is made solely lo the cl)arity's Trustees, as a body, li) accordance witli Parl 4 of the Charities Accounts and Reports Regulations (Northern Ireland) 2015. Our audit work has been undeitaken so that we might state to tlie cliai'ity's Trustees those Inatters ive are required to state lo thein in an auditor's report and for no other purpose. To the fiillest exlenl pei'mitted by law. we do not accept or assume responsibility lo anyoiie oihei. than the cl)ai'ity ai)d the cliarity's Trustees as a body, for our audit work, foi. tliis I'eporl, or foi. tlie opinions we l)ave foi'med. Kim Rainey { Se or tutoiy Auditoi.) Foi. and oi) behalf of M.B. McGrAdy & Co Suite IB CAdogAn House 322 Lisburn RoAd Belfast BT9 6GH Date.. Page 14
FEDERATION OF WOMEN'S INSTITUTES OF NORTHERN IRELAND DRAFT STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024 Note 2024 2023 INCOINIE Membership Fees Contributions To Federation Funds Gift Aid Grant Incomc Income Froin Fedcralion Activities.. Special Underlakiiigs (Appendix IA) Magazinc (Appeiidix IB) Instittite Coiiti'ibulions To Ii)suraiice 60,789 9,307 7,646 19,720 42.530 8,355 2,418 4,000 23,087 11,279 27,617 6,892 34,366 11,743 34,509 13,241 Income From Investiiients: Divideiids Apd Interest On Inveslimcnls Gain / (Loss) On Disposal Of Investincnls Gain l (Loss) On Reiwalualion Of Investments Bank Dcposii Interest i,200 4,070 9.565 293 4,895 7,305 116,461) 55 19,128 14,206) Donations Towards Coui)cil Me¢ling Expenses 1,267 1,776 Total Income 163 1)66 102,623 ovei.htod Expenses Staff Salaries Re¢i'uilittenl Costs Grouiid Rcnl Inslirance Repairs Aiid Reneivals Water Ralcs Light Aiid Hcal Postsge And Telephone Station¢iy & Office Expciiscs SubscTlPtions Auditor's Rcmuiicratioi) General Expenses Clcaiiing Execiitivc & Sub-Comn)iltee Travel Eypenses Depreciation Bad Debis Bank And Inv¢sln)eni Charges Council Meetiiig Expenses 81,717 1,191 22 11,743 3,123 1,211 2,853 2,824 9,082 258 2,970 1,584 2,389 8,332 80,614 161 22 13,241 6,567 599 3,788 2,481 9,921 125 3.092 ,862 2,019 10,509 4,807 222 1,729 3,052 1,796 3,339 138 1)59 25,OU7 144,811 {42,188) Sui-plusl(Deficit) Of Inconie Oi'er Expenditure Statement Of General Fund BalaJ)ce Broiight FoiTrvard 281,096 323,284 Add.. SiirplLisIIDeficit) Of Income Over Expcndilure Balance Cari'icd Forward 25,007 306,103 (42,1881 281.096 Tl)e notes on Pages 17 to 26 forin parl of these financial staienients Page 15
FEDERATION OF WOMEN'S INSTITUTES OF NORTHERN IRELAND BALANCE SHEET AS AT 31 AUGUST 2024 Nole 2024 2023 Fixed Assets Tai)gible Assets Investinents 97,409 164,730 262,139 101,934 1 $3,432 255,366 4(a) Cui'rent Assets Stocks Debtoi's & Prepaymenls Cash at Baiik and in hand 8,111 12,697 S2,428 73,236 10,525 6,150 45,413 62.088 4(b) Current Liabilities Amounts oiving to A C W W Chai'ities Creditors and Accruals 14,581 5,226 19,807 13,167 14,201 27,368 Net Curi'ent Assets 53,429 34,720 Net Assets 315,568 290,086 Financed by: Gei)eral Fiii)d Sub-coininittee Funds Special Funds 306,305 600 8,663 315,568 281,096 600 8,390 290,086 13 APPROVED BY THE EXECUTIVE CoMMIEE CHAIRPERSON -2J4LLW_ TREASURER Th¢ i)otes oil pages 17 10 26 form pait of these financial statenieiils. Cliarity registration niiniber.. l 01656 Page 16
FEDERATION OF WOMEN'S INSTITUTES OF NORTHERN IRELAND NOTES TO THE ACCOUNTS Note I Accounting Policies The following accounting policies have been used consistently in dealing with itenis which al'e considered inatei'ial in relation to the Federation's financial siatements: (a) Accounting Convention The financial statements, which have been pi'epared iindei. the hislorical cost convention, are in accoi'dance with I'elevant accounting standards, the Chai'ities Act {Nortliern Ireland) 2008, and tlie pi'ovisions of the Statenient of Recoiiimended Pi'actice, 'Accounting and Repoi'ting for Charities (FRS102). Tlie cliai'ity is a Public Benefit Entity as defined by FRS 102. The financial statements al'e prepai'ed on a going concern basis. The financial statements al'e pi'epai'ed in sterling which is the functional cui'rency of the chai'ity. (b) Income Income consists of Contributioiis and Membership Fees and Income from Federation activities. Inconie from Investments and Deposits al'e i'etained and are for the uni'esti'icted use of the Federation. Incoiiie collected foi. ACWW Chai'ities are designated foi. that pui'pose. There al'e no i'esti'icted sources of incon)e. Incoine fi-om bank interest is accounted for on a i'eceipts basis. Conti'ibutioiis to Inenibei'ship funds and iiiembei'ship fees are also accoiiiited foi. on a receipts basis. (c) Going Concern At tl)e time of approving the financial stateimeiits, the Triistees l)ave a reasonable expectation that the cliai'ity has adequate i'esoiii'ces to continue in operational existence for the foi'eseeable futiii'e. Thus, the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. (d) Tangible Assets and Depi'eciation Tangible Fixed Assets are stated at cost less accumulated depreciation. IAS 16 permits assets to be i'eported at cost, Nvithout i'evaluation, Ivhei'e value exceeds cost. Depi'eciation is calciilated to write off the cost of the Fixed Assets over the period of theii. useful lives, the pi'incipal l'ates being as follows: Fixtiii'es and Fittings Coi))putei' Equipinent & Software Website Property 25 % Reducing Balance 250/0 Reducing Balance 25 % Reducing Balance 2% Straighl Line Page 17
FEDERATION OF WOMEN'S INSTITUTES OF NORTHERN IRELAND NOTES TO THE ACCOUNTS CONTINUKD (e) Stock Stock consists of goods for i'esale. Stock is valued at cost with pi'ovision being inade to wi'it¢ down obsolete oi. defective stock to net I'ealisable value. Replacement value of stock does not differ Inatei'ially fi'om book cost. (fj Pension Scheme The Federation operates a Defined Conti'ibiition Pension Scheme for eniployees. Pi'einiunis are chai'ged in the accounts in the pei'iod to wliich they relate. (g) Investments Investments al'e stated on the Balance Sheet at Market Value. Investments are held priinarily to provide an investment I'eturn for the Fedei-ation. Realised and unrealised gainsllosses arising on investments are disclosed in the Stateinent of Financial Activities. (h) Expenditure All expenditure is accounted for on an accruals basis and has been included under expense categoi'ies tliat aggi'egate costs i'elated to that category. (i) Charitable Funds Uni'esti'icted funds are available for use at the disci'etion of the ti-listees in furthei'ance of tlieir chai'itable objectives. Restricted funds are subject to specific conditions by donoi's as to how they may be used. The pui'poses and uses of the resti'icted fiinds are set in the notes to tlie financial stateinents. ti) Grants Receivable Grants are I'ecognised wlien the chai'ity has an entitlement to the funds and any conditions l inked to the gi-ants have been niet. Where pei'formance conditions al'e attached to the grant and al'e yet to be met, the iiicoine is I'ecognised as a liability and included on the balance sheet as deferi'ed income to be I'eleased. Page 18
FEDERATION OF WOMEN'S INSTITUTES OF NORTHERN IRELAND NOTES TO THE ACCOUNTS CONTINUED Note 2 Tangible Fixed Assets Com Fixtures & E ui Fittin s & Sofhvare Cost Pro er Total Balance at 3118123 Additions Disposals Balance at 3118124 155,580 53,400 28,222 237.202 155,580 53,400 28,222 237,202 reciation Balance at 3118123 Chai'ge for year On Disposals Balance at 3118124 59,285 3,112 53,251 41 22,732 1,373 135,268 4,525 62,397 53,292 24,105 139,793 Net Book Value at 3118124 93,184 109 4,117 97,409 Net Book Value at 3118123 96,295 149 5,490 101,934 Page 19
FEDERATION OF WOMENIS INSTITUTES OF NORTHERN IRELAND NOTES TO THE ACCOUNTS CONTINUED Note 3 Particulars of Employees The average nuinbei. of pei'sons employed by the Federation dui'ing the year was as follows'.- 2024 2023 Adininistration The aggregate payroll costs of tliese persons were as follows:. Wages and Salaries Pension Scheme Costs Social Security Costs 73,808 6,821 1,088 81,717 72,902 6,623 1,089 80,614 No employees i'eceive total employee benefit5 of more than £60,000. Note 4 Investments and Bank Deposits 2024 2023 (a) Sterling Cash Aberdeen Std Fd Mg ASI UK Si)Ilr Coslnstl GBP A Arteniis Fd Mngi's Income E GBP Dis Blackrock EURPN Dy BR EURPN Dynamic Fd Dis Blackrock FM Lid Contl EURP Inc D Units Inc BMO Conimercial Pro Ord GBPO.01 BNY Mellon Glb Fds Gbl Bd Fd Sterling Z Inc Empiric Student Findlay Park FD Franklin Tinpltn Fd UK Greencoat UK Wind Janus Hend UK & EU JH Strategic Bond Dis HICL Jnfiasti'uctui. Ol'd JNT Public Partner Ord GBPO.0001 isliares Ii PIC USD JP Moi'gan AM UK Ltd JP moi.gan Fund Tcvc JPM Gbl Macro Opps C Net Di JP Morgan Fiinds Id US Equity Inc K GBP Net Inc Legal & Genei'al UT Royal London UTM Saga Spdr ETFS El Bloom Schrodei. Unit Tst Asian Alpha Plus L Acc Nav Schi'odei. Unit tst Asian Income L Vanguard Funds PIC FTSE All World Ucils Etf Us Vanguard Fiinds PIC S&P Abrdn Oeic Ii Abrdn Uk Smli. Abrdn Oeic V Abrdn Sht Dui. Jaiius Hend UK & EU JH Slrategic Bond G Dis 2,310 935 4,108 5,711 4,806 3,733 3,112 4.493 3,887 5,854 7,355 6,666 6,018 5,985 5,483 4,512 8,633 4,533 8,244 4,700 10,076 3,998 7,164 7,188 9,635 16,603 6,742 4,079 5,446 3,890 4,550 4,320 6,866 5,163 5,646 5,312 4,689 9,817 9,040 13,466 10,751 7,919 7,986 11,164 19,827 4,936 4,563 6,248 164,730 153,432 Page 20
FEDERATION OF WOMENIS INSTITUTES OF NORTHERN IRELAND NOTES TO THE ACCOUNTS CONTINUED Investments are included at Mai'ket Value, as calculated by Investec Wealth & Investment, at 31 August 2024 2024 2023 (b) Danske Bank Cui'i'ent Account Danske Bank- Business Investment Accoiint Danske No 2 Deposit Account Cash in Hand 14,136 22,517 18,142 19,850 300 52,428 17,937 4,659 300 45,413 Note 5 Stocks 2024 2023 Hoine Ci'aft Spinning Wheel Award Stationeiy For Resale Badges & Key-Rings Napkins & Diaries W I Souvenii's Cookery Books Scaives 120 2,262 1,020 360 2,851 3,806 106 10,525 1,977 890 200 5,033 11 8,111 Note 6 Debtors 2024 2023 Ti'ade Debtors Prepayments 2,964 9,733 12,697 4,069 2,081 6,150 Page21
FEDERATION OF WOMEN'S INSTITUTES OF NORTHERN IRELAND NOTES TO THE ACCOUNTS CONTINUED Note 7 Amounts Owing To ACWW Charities enin Balance 0110912023 ments Closin durin balance 3110812024 dui'in ear ear Rural Women in Action Fund 13,167 13,167 10,847 10,847 (9,433) (9,433) 14,581 14,581 The movements on the above account has not been i'eflected in the Statement of Financial Activities for the year. Note 8 Creditors: Amounts Falling Due Within One Year 2024 2023 Taxation and social secui'ity Accruals Deferi'ed Income (note 12) (120) 5,346 1,964 10,517 1,720 14,201 5,226 Note 9 Sub-committee Funds 2024 2023 Arts Honie Crafts Hoine and Garden International Magazine 100 200 100 100 100 100 200 100 100 100 600 600 Page 22
FEDERATION OF WOMEN'S INSTITUTES OF NORTHERN IRELAND NOTES TO THE ACCOUNTS CONTINUED Note 10 Auditor's Remuneration 2024 2023 Fees payable to the company's auditoi. 2,970 3,092 Note 11 Trustee Remuneration Trustees did not i'eceive any I'emuneratioii oi. other benefits from employment. Ti'ustees are reimbursed for travel expenses and also for expenditure incurred on behalf of the Fedei'ation, Dui'ing the yeai. £6,477 (2023: £7,259) was reimbui'sed to Trustees for ti'avel expenses. Note 12 Grant Income A grant of £18,000 was received from The National Lotteiy Community Fund for the ci'eation of a database and a 5 year strategic plan. Note 13 Special Funds enin Balance 0110912023 Recei durin Inents durin Closin Balance 3110812024 ear ear International Fund (ACWW Travel) 8,390 273 8,663 The movements on the above accounts have not been reflected in the Stateinent of Financial Activities for the year. Page 23
FEDERATION OF WOMEN'S INSTITUTES OF NORTHERN IRELAND NOTES TO THE ACCOUNTS CONTINUED Note 14 Property Tlie property is regislei'ed in Ilie names of the Trustees and is lield in triist by these Trustees on behalf of the Federation. Note 15 Related Party Transactions Committee Meiiibers of tlie Federation, as inenibers of tlie WI, liave paid 5ubscrip¢ion fees to their local WI, part of which is passed on to the Federation. Note 16 Otlier Infoi'mation In coniiiion witli Inany other cliarities of tliis size and nature we use our auditors to prepare and assist in the preparation of oui- financial statements. Page 24
FEDERATION OF WOMEN'S INSTITUTES OF NORTHERN IRELAND APPENDIX IA - INCOME FROM SPECIAL UNDERTAKINGS 2024 Deficit 2023 Deficit Sur lusl Siii. lus/ Arts Sub-committee 1,502 247 Homecraft (187) (2,649) Home and Garden 3,296 4,204 Magazine and Leisure Sub-cominittee (70) 1,207 Balmoi'al Show 22,353 24,976 Stationery 57 261 W I Souvenirs (684) (28) Cookery (3,180) (312) 90th Annivei'saiy (289) 23,087 27,617 Page 25
FEDERATION OF WOMENIS INSTITUTES OF NORTHERN IRELAND APPENDIX IB - INCOME AND EXPENDITURE FROM ULSTER COUNTRYWOMAN MAGAZINE 2024 2023 Income: Sale of Magazines 27,379 28,847 Advertising Revenue 2,500 2,960 Total Income 29,879 31.807 Expenditure: Printing Costs 18,600 24,690 Bad Debt Provision 225 Total Expenditure 18,600 24,915 Net Surplus 11,279 6,892 Page 26