REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2023 |
FOR |
PEMBROKESHIRE FEDERATION OF WOMEN'S |
INSTITUTES |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2023 |
FOR |
PEMBROKESHIRE FEDERATION OF WOMEN'S |
INSTITUTES |
PEMBROKESHIRE FEDERATION OF WOMEN'S |
INSTITUTES |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2023 |
Page |
Reference and Administrative Details | 1 |
Report of the Trustees | 2 | to | 3 |
Independent Examiner's Report | 4 |
Statement of Financial Activities | 5 |
Statement of Financial Position | 6 | to | 7 |
Notes to the Financial Statements | 8 | to | 13 |
PEMBROKESHIRE FEDERATION OF WOMEN'S |
INSTITUTES |
REFERENCE AND ADMINISTRATIVE DETAILS |
FOR THE YEAR ENDED 31 JULY 2023 |
TRUSTEES |
COMPANY SECRETARY | Mrs N L Grieves |
REGISTERED OFFICE |
REGISTERED COMPANY NUMBER |
REGISTERED CHARITY NUMBER |
INDEPENDENT EXAMINER | Bevan Buckland LLP |
Chartered Accountants |
45 High Street |
Haverfordwest |
Pembrokeshire |
SA61 2BP |
PEMBROKESHIRE FEDERATION OF WOMEN'S |
INSTITUTES (REGISTERED NUMBER: 02715974) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 JULY 2023 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). |
The trustees present their report with the accounts of the Federation for the year ended 31 July 2023. |
OBJECTIVES AND ACTIVITIES |
Objectives and activities |
The company was established to provide an organisation with the object of enabling countrywomen to take an effective part in the improvement and development of the condition of rural life and to make provisions to advance their education and citizenship, in public questions both national and international, in music, drama and other cultural subjects and also to secure instruction and training for them in all branches of agriculture, handicrafts, home economics, health and social welfare. It exists to give all women the opportunity of working together through the Women's Institute Organisation, and of putting into practice those ideals for which it stands. |
Public benefit |
The trustees have considered the Charity Commissions guidance on public benefit, including the guidance on fee charging. The Institute relies on the income from fees and sales to cover its operating costs. In setting the level of fees, charges and concessions, the trustees give careful consideration to the accessibility of membership for those on low incomes. |
ACHIEVEMENT AND PERFORMANCE |
Achievements and performance |
Calendar sales for the Flora and Fauna theme went really well and the Committee has now signed off the Calendar for 2024 with the new theme Hidden Secrets of Pembrokeshire 2024, using photographs taken by members. Sponsorship from local companies has continued to help in meeting costs and enabled the price per calendar to remain at £5. |
FINANCIAL REVIEW |
Financial review |
The results of the financial year are shown in the statement of financial activities on page 15. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The federation is a company limited by guarantee (incorporated 19th May 1992), and is governed by its memorandum and articles of association. |
Organisational structure |
The Federation is totally dependent on the services of unpaid volunteers. The Board of Trustees consists of 12 members, with 28 members sitting on Committees. The Board of Trustees are elected at the Annual General Meeting. These members plan the Federation Programme for the entire Federation Membership. Volunteer Trustee Committee members run the Federation office on two days per week. Many of the members steward day schools, meetings and other events to help in the successful running of such; this is done on a voluntary basis. |
Affiliation |
The Federation is affiliated to the National Federation of Women's Institute as are the local Institutes. |
Risk management |
The Trustees have assessed the major risks to which the charity is exposed, and in particular those related to its operations and finances, and are satisfied that systems are in place to mitigate exposure to the major risks. |
Approved by order of the board of trustees on |
PEMBROKESHIRE FEDERATION OF WOMEN'S |
INSTITUTES (REGISTERED NUMBER: 02715974) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 JULY 2023 |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
PEMBROKESHIRE FEDERATION OF WOMEN'S |
INSTITUTES |
Independent examiner's report to the trustees of Pembrokeshire Federation Of Women's Institutes ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2023. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the 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: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts 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 accounts 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 accounts to be reached. |
Alun Evans FCA |
Bevan Buckland LLP |
Chartered Accountants |
45 High Street |
Haverfordwest |
Pembrokeshire |
SA61 2BP |
19 October 2023 |
PEMBROKESHIRE FEDERATION OF WOMEN'S |
INSTITUTES |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE YEAR ENDED 31 JULY 2023 |
2023 | 2022 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Incoming resources |
Investment income | 2 |
Total |
EXPENDITURE ON |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 106,601 |
PEMBROKESHIRE FEDERATION OF WOMEN'S |
INSTITUTES (REGISTERED NUMBER: 02715974) |
STATEMENT OF FINANCIAL POSITION |
31 JULY 2023 |
2023 | 2022 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
CURRENT ASSETS |
Stocks | 8 |
Debtors | 9 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 10 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 11 | ( |
) |
NET ASSETS |
FUNDS | 12 |
Unrestricted funds | 106,601 |
TOTAL FUNDS | 106,601 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
PEMBROKESHIRE FEDERATION OF WOMEN'S |
INSTITUTES (REGISTERED NUMBER: 02715974) |
STATEMENT OF FINANCIAL POSITION - continued |
31 JULY 2023 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
PEMBROKESHIRE FEDERATION OF WOMEN'S |
INSTITUTES |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2023 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Freehold property | - |
Improvements to property | - |
Fixtures and fittings | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
PEMBROKESHIRE FEDERATION OF WOMEN'S |
INSTITUTES |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2023 |
2. | INVESTMENT INCOME |
2023 | 2022 |
£ | £ |
Deposit account interest | 620 | 58 |
3. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2023 | 2022 |
£ | £ |
Depreciation - owned assets |
4. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 July 2023 nor for the year ended 31 July 2022. |
Trustees' expenses |
During the year the charity has paid mileage and other expenses to the 14 members who served on the Board of Trustees totalling £644 (2022 - £382). |
5. | SALARIES AND WAGES |
2023 | 2022 |
£ | £ |
Gross salaries, national insurance and tax | 7,129 | 6,825 |
7,129 | 6,825 |
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted |
fund |
£ |
INCOME AND ENDOWMENTS FROM |
Incoming resources |
Investment income |
Total |
EXPENDITURE ON |
Charitable activities |
Total |
PEMBROKESHIRE FEDERATION OF WOMEN'S |
INSTITUTES |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2023 |
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted |
fund |
£ |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 106,601 |
7. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
Freehold | to | and |
property | property | fittings | Totals |
£ | £ | £ | £ |
COST |
At 1 August 2022 and 31 July 2023 |
DEPRECIATION |
At 1 August 2022 |
Charge for year |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
8. | STOCKS |
2023 | 2022 |
£ | £ |
Stocks |
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
PEMBROKESHIRE FEDERATION OF WOMEN'S |
INSTITUTES |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2023 |
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other creditors |
11. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Templeton WI | - | 481 |
- | 481 |
12. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.8.22 | in funds | 31.7.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 106,601 | 672 | 107,273 |
TOTAL FUNDS | 672 | 107,273 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 53,049 | (52,377 | ) | 672 |
TOTAL FUNDS | ( |
) | 672 |
Comparatives for movement in funds |
Net |
movement | At |
At 1.8.21 | in funds | 31.7.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 107,477 | (876 | ) | 106,601 |
TOTAL FUNDS | 107,477 | (876 | ) | 106,601 |
PEMBROKESHIRE FEDERATION OF WOMEN'S |
INSTITUTES |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2023 |
12. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 59,175 | (60,051 | ) | (876 | ) |
TOTAL FUNDS | 59,175 | (60,051 | ) | (876 | ) |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.8.21 | in funds | 31.7.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 107,477 | (204 | ) | 107,273 |
TOTAL FUNDS | 107,477 | (204 | ) | 107,273 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 112,224 | (112,428 | ) | (204 | ) |
TOTAL FUNDS | 112,224 | (112,428 | ) | (204 | ) |
13. | CONTINGENT LIABILITIES |
There were no contingent liabilities as at 31 July 2023 (2022 - nil). |
PEMBROKESHIRE FEDERATION OF WOMEN'S |
INSTITUTES |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2023 |
14. | RELATED PARTY DISCLOSURES |
15. | MEMBERS GUARANTEE |
The company is limited by guarantee and in the event of the winding up of the company the liability of each member will not exceed £1. |
16. | INCORPORATION |
The company is incorporated under the Companies Act 2006 and registered in England and Wales. It is also registered with the Charity Commission. |