THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
Charity registration number 1042705
Company registration number 02996091 (England and Wales)
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees'
Mrs G Wheeler, Chair
Mrs D Henderson
Mrs H Lewis
Mrs L Oldham
Mrs M E O'Neill
Mrs P Pierce
Mrs J Taylor
Mrs B Thurgood
Mrs J M Turner
Mrs C Wolfe
Mrs J Bennett
Charity number
1042705
Company number
02996091
Registered office
9 Park Plaza
Battlefield Enterprise Park
Shrewsbury
Shropshire
SY1 3AF
Independent examiner
Dyke Yaxley Limited
1 Brassey Road
Old Potts Way
Shrewsbury
Shropshire
SY3 7FA
THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
CONTENTS
Page
Chairman's statement
1 - 2
Trustees' report
3 - 4
Independent examiner's report
5
Statement of financial activities
6 - 7
Balance sheet
8 - 9
Notes to the financial statements
10 - 21
THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
CHAIRMAN'S STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2021
- 1 -

2021 has once again been a stop-start period due to restrictions being imposed by Covid. Our office staff, Nikki and Debbie, have continued working occasionally from home but mainly in the office. This has meant that our members could visit our office by appointment as well as being able to contact by phone or email. The County News was produced 11 times during the year; and duly mailed to all WI secretaries, which provided WIs with information on Federation activities, amongst other things.

The Board of Trustees met each month, except August, either via Zoom or in person when restrictions allowed. At the beginning of 2021 we facilitated the consultation from NFWI on the change of constitution for our Federation and all WIs. As soon as restrictions allowed we held a shortened Annual Meeting at Theatre Severn on 20 July 2021. Sufficient members attended our morning meeting, from across the County, to provide a quorum. This meant that the 2019 and 2020 Annual Meeting minutes were approved. The Treasurer reported on the independently examined 2020 Financial Statements and received approval of both the 2019 and 2020 statements. The governance standing orders were adopted and the Special Resolution was agreed to amend the Memorandum and Articles of Association.

Heather Dulson, County Chairman, stood down at this meeting as did Trustee Annie Owen. Our thanks goes to them for their hard work for the Federation. Glenys Wheeler was announced as the new Chairman, Bridget Thurgood remains County Treasurer, with Hilary Lewis and Margaret O’Neill becoming Vice County Chairmen.

 

Board responsibilities began to be reviewed and will be ongoing and a review of Sub-Committee standing orders and Term of Reference took place.

Throughout 2021, despite restrictions, the Federation sub-committees have continued to explore new ways of meeting the aims of the constitution. Various Zoom events included historical talks, craft activities and a quiz; and members were encouraged to enter federation competitions. As soon as we were able to commence face to face meetings again, various craft activities, a ramble, the Carol Service and lunches at Origins were able to take place. The Climate Committee were active in a litter pick, ‘Swishing’ Event and a promotional event at Ludlow Market. They also encouraged ‘Mors bags’ making and The Shropshire Scarf Challenge. As our local agricultural and flower shows were cancelled it was decided by our Show Committee that we hold a Virtual Show. This was well received, supported by members and a video of the entries was produced.

In October, the Chairman and Treasurer attended the 2021 Annual National Council Meeting with NFWI and other Federations. This was held via Zoom and dealt with such aspects as finance and strategic policy. During the meeting we were given a presentation on generational theory with the aim of helping Federations to recruit young women to join the WI.

 

Other events undertaken by the Federation included the formation of a Federation digital team to help advise on furthering our digital expertise and in setting up a new SFWI website.

Our internal team of Independent Financial Examiners scrutinised many WI annual financial statements.

 

As a Federation we also continued to liaise with Young Farmers and the NFU, and held an Afternoon Tea Party to raise money for NHS Day, to which the local community were invited.

 

All but two Trustees were able to take part in the Trustee Training Pilot which was sent from National. We changed accountants and had an initial meeting with them prior to our year end.

Throughout the year we have tried to support all the WIs in Shropshire, by cascading information received from NFWI and government websites, as well as keeping them up to date on Federation activities via our monthly newsletter. This included information about the change in the subscription year which will now run from 1 April to 31 March instead of as in the past 1 January to 31 December. Individual WIs were also given, by NFWI, the opportunity to exercise flexibility on the amount of their portion of the subscription charged to members.

THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
CHAIRMAN'S STATEMENT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 2 -

Despite all the difficulties experienced 2021 proved to be a positive year. As a Federation we were sorry to lose Edgmond, Llanyblodwel & Porth-y-waen, Severn Sisters and Yeaton, Fitz and Walford WIs but were very heartened by the amount of new member enquiries both to our office and WIs. This has resulted in many new members joining Shropshire Federation. We are also very pleased to welcome Hales (Market Drayton) WI who after consultation with NFWI and Staffordshire Federation were able to become part of Shropshire Federation.

I would like to thank both the office staff, sub-committee chairs and the Board for their continued support, hard work and good humour during the past year.

..............................
Mrs G Wheeler
County Chairman
Date: .........................
THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 3 -

The Trustees' (who are also directors of the Federation for the purposes of the Companies Act) are pleased to present their annual report and financial statements for the year ended 31 December 2021. Which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

The principle object of the Federation is to further the purpose of the Women's Institute movement in Shropshire and elsewhere as defined by the constitution.

The Trustees' have paid due regard to guidance issued by the Charity Commission in deciding what activities the Federation should undertake. The trustees consider the objectives and activities of the charity are of a public benefit.

Achievements and performance

In order to fulfil the objectives of the WI movement, Federation sub committees have organised events, workshops and training for the benefit of members.

 

For a review of activities, please refer to the Chairman's Statement on page 1 and 2.

Financial review

After making appropriate enquiries, the Trustees have a reasonable expectation that the Federation has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

Reserves Policy

Free reserves of the Federation stand at £158,715 (2020: £163,499). The Trustees are aware of the level of free reserves but feel these are reasonable in regard to fulfilling the objectives of the Federation as well as maintaining the county office, and believe that the reserves need to be at least equivalent to the normal annual expenditure.

Structure, governance and management

The Shropshire County Federation of Womens Institutes is registered as a charitable company limited by guarantee and was constituted under a Memorandum of Association dated 29 November 1994. It is registered in England and Wales Charity Commission, charity number 1042705, and registered with Companies House, number 02996091.

The Trustees', who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mrs G Wheeler, Chair
Mrs H Dulson
(Resigned 20 July 2021)
Mrs D Henderson
Mrs H Lewis
Mrs L Oldham
Mrs M E O'Neill
Mrs A Owen
(Resigned 20 July 2021)
Mrs P Pierce
Mrs J Taylor
Mrs B Thurgood
Mrs J M Turner
Mrs C Wolfe
Mrs J Bennett
THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 4 -

Election of Trustees

The management of the Federation is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.

 

The Board of Trustees elect the Chairman, Honorary Treasurer and other offices from their own number.

Risk Management

The Trustees have assessed the major risks to which the charitable company is exposed, in particular those related to the operations and finances of the charitable company, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.

There are a number of trustees that have been in place for more than 9 years. The Federation are constantly looking for new trustees, however, given the purpose and objectives of the Federation there is a limited market, making new trustees difficult to find.

The Trustees' report was approved by the Board of Trustees'.

Mrs G Wheeler, Chair
Chair of Trustees'
12 April 2022
THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES' OF THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
- 5 -

I report to the Trustees' on my examination of the financial statements of The Shropshire County Federation of Women's Institutes (the charity) for the year ended 31 December 2021.

Responsibilities and basis of report

As the Trustees' of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1

accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

2

the financial statements do not accord with those records; or

3

the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4

the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Ian Walsh FCA
Dyke Yaxley Limited
1 Brassey Road
Old Potts Way
Shrewsbury
Shropshire
SY3 7FA
Dated: 20 April 2022
THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2021
- 6 -
Current financial year
Unrestricted
Restricted
Total
Total
funds
funds
2021
2021
2021
2020
Notes
£
£
£
£
Income from:
Donations and legacies
2
61,664
3,791
65,455
70,886
Charitable activities
3
17,144
-
17,144
17,122
Other trading activities
4
6,344
-
6,344
4,217
Investments
5
105
1
106
1,045
Total income
85,257
3,792
89,049
93,270
Expenditure on:
Raising funds
6
2,964
-
2,964
513
Charitable activities
7
89,096
25
89,121
91,997
Total expenditure
92,060
25
92,085
92,510
Net (outgoing)/incoming resources before transfers
(6,803)
3,767
(3,036)
760
Gross transfers between funds
250
(250)
-
-
Net (expenditure)/income for the year/
Net movement in funds
(6,553)
3,517
(3,036)
760
Fund balances at 1 January 2021
370,613
4,156
374,769
374,009
Fund balances at 31 December 2021
364,060
7,673
371,733
374,769

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

Reclassifications of prior year figures have occurred to increase disclosure in the accounts, though this has resulted in no changes to the net assets of the Federation.

THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2021
- 7 -
Prior financial year
Unrestricted
Restricted
Total
funds
funds
2020
2020
2020
Notes
£
£
£
Income from:
Donations and legacies
2
70,886
-
70,886
Charitable activities
3
17,122
-
17,122
Other trading activities
4
4,217
-
4,217
Investments
5
1,013
32
1,045
Total income
93,238
32
93,270
Expenditure on:
Raising funds
6
513
-
513
Charitable activities
7
91,997
-
91,997
Total expenditure
92,510
-
92,510
Net (outgoing)/incoming resources before transfers
728
32
760
Net (expenditure)/income for the year/
Net movement in funds
728
32
760
Fund balances at 1 January 2020
369,885
4,124
374,009
Fund balances at 31 December 2020
370,613
4,156
374,769
THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
BALANCE SHEET
AS AT
31 DECEMBER 2021
31 December 2021
- 8 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
12
140,092
142,932
Current assets
Stocks
13
738
821
Debtors
14
7,540
6,119
Cash at bank and in hand
250,018
245,741
258,296
252,681
Creditors: amounts falling due within one year
15
(25,025)
(14,570)
Net current assets
233,271
238,111
Total assets less current liabilities
373,363
381,043
Provisions for liabilities
16
(1,630)
(6,274)
Net assets
371,733
374,769
Income funds
Restricted funds
18
7,673
4,156
Unrestricted funds
Designated funds
19
62,985
64,182
General unrestricted funds
301,075
306,431
364,060
370,613
371,733
374,769
THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2021
31 December 2021
- 9 -

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2021.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees' on 12 April 2022
Mrs G Wheeler, Chair
Trustee
Company Registration No. 02996091
THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
- 10 -
1
Accounting policies
Charity information

The Shropshire Federation of Women's Institutes is a charitable company limited by guarantee and was constituted under a Memorandum of Association dated 29 November 1994. It is registered in England and Wales Charity Commission, charity number 1042705, and registered with Companies House, number 02996091.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

 

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the Trustees' have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees' continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees' in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 11 -
1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

 

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
2% straight line
Fixtures and fittings
10% straight line
Computers
20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.9
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 12 -
1.10
Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.11
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

1.12
Retirement benefits

Employees of the charity are members of a multi-employer scheme where it is not possible in the normal courses of events to identify the share of underlying assets and liabilities belonging to the individual employers. Therefore, as required by FRS 102, the charitable company accounts for this scheme as if it were a defined contribution scheme.

 

The pension charge represents the amounts payable by the charitable company to the fund in respect of the year. The pension scheme is in deficit and the charitable company is making additional deficit payments. Under the SORP a provision is required, based on these deficit payments.

2
Donations and legacies
Unrestricted
Restricted
Total
Unrestricted
funds
funds
funds
2021
2021
2021
2020
£
£
£
£
Donations and gifts
1,215
3,791
5,006
2,403

Grants

-
-
-
5,000

Affiliation fees

60,449
-
60,449
63,483
61,664
3,791
65,455
70,886
THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 13 -
3
Charitable activities

Total funds

Total funds

2021
2020
£
£

Sub-committees: courses and events

10,839
10,105

Publication and stationery

378
2,014

Recharge County WI's insurance

1,226
1,296

Shropshire County news publications

4,161
3,707

AGM and Federation Council meeting

540
-
17,144
17,122
4
Other trading activities
Unrestricted
Unrestricted
funds
funds
2021
2020
£
£

Shropshire Calendars

3,189
3,065

Claremont Club

980
-

NFWI raffle

490
387

Merchandise

1,685
765
Other trading activities
6,344
4,217
5
Investments
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2021
2021
2021
2020
2020
2020
£
£
£
£
£
£

Bank interest received

105
1
106
1,013
32
1,045
THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 14 -
6
Raising funds
Unrestricted
Unrestricted
funds
funds
2021
2020
£
£
Trading costs

Merchandise

1,196
231

Shropshire Calendars

1,348
-

Claremont Club

420
282
Trading costs
2,964
513
2,964
513
7
Charitable activities

Total funds

Total funds

2021
2020
£
£

Sub-committees: courses and events

5,863
6,305

Publication and stationery

393
3,906

Affiliation fees

32,608
34,844

Shropshire County news publications

3,693
2,930

Irrecoverable VAT

1,594
(406)

AGM and Federation Council meeting

1,926
-
46,077
47,579
Grant funding of activities (see note 8)
250
250
Share of support costs (see note 9)
40,991
37,531
Share of governance costs (see note 9)
1,803
6,637
89,121
91,997
Analysis by fund
Unrestricted funds
89,096
91,997
Restricted funds
25
-
89,121
91,997
THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 15 -
8
Grants payable

Total funds

Total funds

2021
2020
£
£
Grants to individuals
250
250
250
250
9
Support costs
Support costs
Governance costs
2021
Support costs
Governance costs
2020
£
£
£
£
£
£
Staff costs
24,524
-
24,524
27,866
-
27,866
Depreciation
3,389
-
3,389
3,365
-
3,365

Subscriptions

242
-
242
12
-
12

County office expenses

7,051
-
7,051
2,142
-
2,142

Bad debt

(349)
-
(349)
-
-
-

Accountancy fees

1,545
-
1,545
-
-
-

Insurance

1,308
-
1,308
1,715
-
1,715

Office utilities

3,002
-
3,002
2,431
-
2,431

Staff training

279
-
279
-
-
-

Board expenses

-
353
353
-
3,837
3,837

Independent examination

-
1,450
1,450
-
2,800
2,800
40,991
1,803
42,794
37,531
6,637
44,168
Analysed between
Charitable activities
40,991
1,803
42,794
37,531
6,637
44,168

The independent examiner's remuneration amounts to an independent examiner fee of £1,450 (2020: £2,800).

10
Trustees'

During the year ended 31 December 2021, expenses totalling £656 were reimbursed to 7 Trustees (2020 - £963) The amounts outstanding at the year end was £290 (2020: £nil).

 

The expenses were for travel and purchases made on behalf of the Federation during the year.

During the year, no Trustees received any remuneration or other benefits (2020 - £nil).

THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 16 -
11
Employees

The average monthly number of employees during the year was:

2021
2020
Number
Number
Administration staff
2
2
Trustees- voluntary
11
12
Total
13
14
Employment costs
2021
2020
£
£
Wages and salaries
26,620
26,588
Defined contribution scheme
2,548
1,278
Defined benefit scheme
(4,644)
-
24,524
27,866
There were no employees whose annual remuneration was more than £60,000.
12
Tangible fixed assets
Leasehold land and buildings
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 January 2021
165,794
7,622
8,537
181,953
Additions
-
-
549
549
At 31 December 2021
165,794
7,622
9,086
182,502
Depreciation and impairment
At 1 January 2021
22,862
7,622
8,537
39,021
Depreciation charged in the year
3,316
-
73
3,389
At 31 December 2021
26,178
7,622
8,610
42,410
Carrying amount
At 31 December 2021
139,616
-
476
140,092
At 31 December 2020
142,932
-
-
142,932
THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 17 -
13
Stocks
2021
2020
£
£
Finished goods and goods for resale
738
821
14
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
923
1,316
Other debtors
875
634
Prepayments and accrued income
5,742
4,169
7,540
6,119
15
Creditors: amounts falling due within one year
2021
2020
£
£
Other taxation and social security
-
583
Trade creditors
1,600
1,085
Other creditors
5,160
-
Accruals and deferred income
18,265
12,902
25,025
14,570
16
Provisions for liabilities
2021
2020
Notes
£
£
Retirement benefit obligations
17
1,630
6,274
1,630
6,274
THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 18 -
17
Retirement benefit schemes
Defined contribution schemes

The charge to profit or loss in respect of defined contribution schemes was £2548 (2020 - £1278).

Defined benefit schemes

The company participates in the scheme, a multi-employer scheme which provides benefits to some 638 non-associated participating employers. The scheme is a defined benefit scheme in the UK. It is not possible for the company to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme.

 

The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK.

 

The scheme is classified as a 'last-man standing arrangement'. Therefore the company is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme.

 

A full actuarial valuation for the scheme was carried out at 30 September 2020. This valuation showed assets of £800.3m, liabilities of £831.9m and a deficit of £31.6m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme. During the year, the charity contributed £1,476 towards the deficit.

 

The assets of the scheme are held separately from those of the charitable company in independently

administered funds. The pension charge represents contributions payable by the charitable company to the fund, after adjusting for the movement on the provision amounting to £4,644 (2020: £1,248).

 

 

The amounts included in the balance sheet arising from the charity's obligations in respect of defined benefit plans are as follows:

2021
2020
£
£
Present value of defined benefit obligations
1,630
6,274
Deficit in scheme
1,630
6,274

Movements in the present value of defined benefit obligations:

2021
2020
£
£
Liabilities at 1 January 2021
6,274
7,522
Movement in year
(4,644)
(1,248)
At 31 December 2021
1,630
6,274

The defined benefit obligations arise from plans which are wholly or partly funded.

THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 19 -
18
Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
Movement in funds
Movement in funds
Balance at
1 January 2020
Incoming resources
Balance at
1 January 2021
Incoming resources
Resources expended
Transfers
Balance at
31 December 2021
£
£
£
£
£
£
£
Denman bedroom fund
472
-
472
-
-
-
472
Denman travel fund
1,137
-
1,137
-
-
-
1,137
County bursary fund
1,765
32
1,797
1
-
(250)
1,548
Broadhurst memorial fund
750
-
750
-
(25)
-
725
Suspended institutes
-
-
-
3,791
-
-
3,791
4,124
32
4,156
3,792
(25)
(250)
7,673

Denman bedroom fund

Represents monies collected to sponsor a bedroom at Denman. The fund can be used to pay for the furnishing, repairs and maintenance of the bedroom.

 

Denman travel fund

Can be used to pay travelling expenses of the members attending Denman.

 

SFWI are currently awaiting confirmation from the NFWI for future direction to the use of these funds since the charitable objectives of Denman College were changed late last year.

County bursary fund

Can be used to pay towards training courses of members of the Shropshire County Federation of Women's Institutes.

 

Ethel Broadhurst memorial fund

To be used to give an annual prize to the institute in preparing the best press report during the year.

Suspended institutes

Represents monies collected from suspended institutes which is held for 3 years by the Federation to provide back to the institute should it reopen. After the time has elapsed the donation is transferred to unrestricted funds. The fund consists of 2021: £3,611, 2020: £180 and 2019: nil.

THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 20 -
19
Designated funds
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:
Movement in funds
Movement in funds
Balance at
1 January 2020
Incoming resources
Balance at
1 January 2021
Incoming resources
Transfers
Balance at
31 December 2021
£
£
£
£
£
£
Rainy day fund
1,835
-
1,835
-
-
1,835
NFWI raffle fund
1,747
-
1,747
490
(1,087)
1,150
Denman bursary fund
500
-
500
-
(500)
-
Office fund
60,000
-
60,000
-
-
60,000
Denman bedroom fund
100
-
100
-
(100)
-
64,182
-
64,182
490
(1,687)
62,985

 

Rainy day fund

To be used, at the discretion of the Executive Committee, for helping institutes who are in trouble financially.

 

NFWI Raffle

A raffle is held each year and it is at the discretion of the Trustees how to spend the net proceeds. An adjustment has been made in the expenditure figure above to better reflect the carried forward position of the fund, which represents the bursaries which are paid from the proceeds of the raffle.

Office fund

This fund represented the cash proceeds from the sale of the prior office in 2013 which was designated for the purchase of new office equipment in 2014. During the year a balance was transferred into unrestricted funds to cover the cost of the additions to the property during the year, and the balance is being held to cover future capital additions.

20
Analysis of net assets between funds
Unrestricted funds
Restricted funds
Total
Unrestricted funds
Restricted funds
Total
2021
2021
2021
2020
2020
2020
£
£
£
£
£
£
Fund balances at 31 December 2021 are represented by:
Tangible assets
140,092
-
140,092
142,932
-
142,932
Current assets/(liabilities)
225,598
7,673
233,271
233,955
4,156
238,111
Provisionsand pensions
(1,630)
-
(1,630)
(6,274)
-
(6,274)
364,060
7,673
371,733
370,613
4,156
374,769
THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 21 -
21
Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2021
2020
£
£
Within one year
699
-
Between two and five years
1,569
-
2,268
-
22
Related party transactions
Transactions with related parties

During the year the charity entered into the following transactions with related parties:

The National Federation of Women's Institute (NFWI), a Federation of which trustee Mrs P Pierce is also a trustee of, were paid £32,608 (2020: £34,844) and the charity received £490 (2020: £387). No amounts were outstanding at the year end (2020: nil).

The Federation paid £71 (2020: £nil) to Aroma Tea and Coffee, a business owned by trustee Mrs J M Turner. No amounts were outstanding at the year end (2020: £nil).

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