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 2023
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 J Taylor
Mrs B Thurgood
Mrs J M Turner
Mrs C Wolfe
Mrs J Bennett
Ms G A Booton
Mrs A Owen
(Appointed 18 May 2023)
Charity number
1042705
Company number
02996091
Registered office
9 Park Plaza
Battlefield Enterprise Park
Shrewsbury
Shropshire
SY1 3AF
Independent examiner
Audrey Williams FCCA
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 - 23
THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
CHAIRMAN'S STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 1 -

2023 proved to be an exceptionally busy year. We saw more members than ever popping into our office for many and varied reasons; for training, questions, information and socialising at our ‘drop-in’ days.

During the course of the year our book-keeper Debbie Evans left us and we were joined in August by Jenny Paterson who took over the role. Throughout the year, Nikki Tuffnell, our administrator, worked tirelessly, with efficiency and kindness. We introduced ‘Sharepoint’ into the office, which is an administration tool to support not only the Federation, but also WIs. This has now been set up and is being embedded in our administrative practice gradually, with Trustees and Advisers being introduced to the platform this year. We hope to begin the roll out of this to WIs in 2024. The office continues to produce County News 11 times a year. This is distributed to members via their WI secretary. Members have the option to receive hard, electronic copies or both.

The Board of Trustees met in person every month except August as is the norm. Ann Owen returned to the Board after a short break and we were very pleased to welcome her back. Towards the end of the year four members attended our meetings as observers with a view to joining the Board in the future.

 

The Annual Meeting was held on 18 May at the Theatre Severn, Shrewsbury. The 2022 Annual Meeting minutes were agreed. The Treasurer reported on the independently examined 2022 financial statement and received approval. The governance and standing orders were adopted. Officers remained the same as in the previous year; Glenys Wheeler, Chairman, Bridget Thurgood, County Treasurer, Hilary Lewis and Margaret O’Neill, Vice County Chairmen. The meeting was well attended although not sold out completely. The Chairman thanked all the members, federation teams and especially the Trustees for everything they had done over the past year. The main speaker was Chris Lubbe. Chris had been one of Nelson Mandela’s bodyguards and gave a very moving speech which received a standing ovation from members. In the afternoon session, Clun WI gave a presentation on the work they do on behalf of the ‘Days for Girls’ charity.

Once again, our sub-teams organised a wide variety of events and activities. Early in the year we had a trip to Birmingham Symphony Hall run by the Cultural and Current Affairs team. The Climate team organised a Queen Bee event in the Spring then, the summer saw us visit Edgbaston for the IT20 Women’s Cricket organised by the Sport and Leisure team. Towards the end of the year the Craft and Home Economics team ran a paper flowers workshop and the Show team, who overcame significant difficulties, put on a fantastic display in Shrewsbury Abbey. Throughout the year the M & T team ran various training sessions and welcomed a newly qualified WI Adviser, Yvette Openshaw.

The Federation Chairman and Treasurer attended virtual meetings for National Council and during those meetings were given information regarding NFWI’s sale of Denman and how the funds will be utilised in accordance with the Charity Commission’s ruling. The Federation will hopefully be able to access these funds for additional learning opportunities to benefit members in the future. In May, many of the Board of Trustees, WI delegates and additional members attended NFWI Annual Meeting in Cardiff. We invited NFWI CEO, Melissa Green to visit us and we were delighted that she was able to come and spend a day with the Board of Trustees discussing various WI topics.

Our team of Independent Financial Examiners scrutinised many finalised WI annual accounts. We also continue to liaise with the Young Farmers and the NFU.

Sadly, since our 2022 report we have lost some WIs; Acton Burnell, Bomere Heath, Coalbrookdale, Knowbury, Richards Castle and Tibberton. We are sorry to see these WIs suspend but despite this our membership has remained buoyant with enquiries for new membership being regularly received.

In 2022 the Federation has been proactive in promoting WI across the County. We launched our website in January and also began the process of establishing a Virtual WI which featured in a Shropshire Radio interview with Ann Owen. During the summer, SFWI maintained their presence at Shrewsbury Flower Show, Oswestry Show and Burwarton Show however, this year, a team consisting of Trustees and some WI members took on the catering at Burwarton Show which was previously run by Country Markets.

THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
CHAIRMAN'S STATEMENT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -

For the first time, SFWI took the decision to celebrate WI Day at Shrewsbury Abbey. Initially, we had planned for Federation and various WIs to be able to showcase themselves, but due to us being unable to attend Shrewsbury Flower Show free of charge we then agreed to incorporate the Show as part of this day. Despite some scepticism it was attended by hundreds of people and at the end of the day was declared a resounding success. The High Sheriff attended and presented the show prizes to our talented members.

Later in the year, we returned to the Abbey. In November, for Remembrance Day, a small team once again erected a marvellous display of poppies, made by our members and then in December we held our annual Carol Service which was attended by over 200 members.

Finally, my thanks go to all members of Shropshire WI and especially to our two staff, Nikki and Jenny and the Federation Board of Trustees for all their hard work, tolerance and good humour.

Mrs G Wheeler
County Chairman
Date: 9 April 2024
THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 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 2023, 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 £141,925 (2022: £148,733). 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 D Henderson
Mrs H Lewis
Mrs L Oldham
Mrs M E O'Neill
Mrs J Taylor
Mrs B Thurgood
Mrs J M Turner
Mrs C Wolfe
Mrs J Bennett
Ms G A Booton
Mrs A Owen
(Appointed 18 May 2023)
THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 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.

Small Companies Exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

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

Mrs G Wheeler, Chair
Trustee
9 April 2024
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 2023.

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.

Audrey Williams FCCA
Dyke Yaxley Limited
1 Brassey Road
Old Potts Way
Shrewsbury
Shropshire
SY3 7FA
Dated: 9 April 2024
THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
Current financial year
Unrestricted
Restricted
Total
Total
funds
funds
2023
2023
2023
2022
Notes
£
£
£
£
Income from:
Donations and legacies
2
67,650
2,936
70,586
65,194
Charitable activities
3
41,255
-
41,255
46,667
Other trading activities
4
6,619
-
6,619
6,554
Investments
5
3,723
540
4,263
925
Total income
119,247
3,476
122,723
119,340
Expenditure on:
Raising funds
6
3,343
-
3,343
2,774
Charitable activities
7
126,820
-
126,820
128,973
Total expenditure
130,163
-
130,163
131,747
Net (outgoing)/incoming resources before transfers
(10,916)
3,476
(7,440)
(12,407)
Gross transfers between funds
180
(180)
-
-
Net (expenditure)/income for the year/
Net movement in funds
(10,736)
3,296
(7,440)
(12,407)
Fund balances at 1 January 2023
350,293
9,033
359,326
371,733
Fund balances at 31 December 2023
339,557
12,329
351,886
359,326

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.
THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
Prior financial year
Unrestricted
Restricted
Total
funds
funds
2022
2022
2022
Notes
£
£
£
Income from:
Donations and legacies
2
63,679
1,515
65,194
Charitable activities
3
46,667
-
46,667
Other trading activities
4
6,554
-
6,554
Investments
5
806
119
925
Total income
117,706
1,634
119,340
Expenditure on:
Raising funds
6
2,774
-
2,774
Charitable activities
7
128,698
275
128,973
Total expenditure
131,472
275
131,747
Net (outgoing)/incoming resources before transfers
(13,766)
1,359
(12,407)
Net (expenditure)/income for the year/
Net movement in funds
(13,766)
1,359
(12,407)
Fund balances at 1 January 2022
364,060
7,673
371,733
Fund balances at 31 December 2022
350,294
9,032
359,326
THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 8 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
13
133,994
137,527
Current assets
Stocks
14
1,547
656
Debtors
15
14,623
5,949
Cash at bank and in hand
225,780
226,339
241,950
232,944
Creditors: amounts falling due within one year
16
(23,580)
(10,246)
Net current assets
218,370
222,698
Total assets less current liabilities
352,364
360,225
Provisions for liabilities
17
(478)
(899)
Net assets
351,886
359,326
Income funds
Restricted funds
19
12,329
9,032
Unrestricted funds
Designated funds
20
62,688
62,462
General unrestricted funds
276,869
287,832
339,557
350,294
351,886
359,326
THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 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 2023.

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.

The financial statements were approved by the Trustees' on 9 April 2024
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 2023
- 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.

Designated funds comprise funds which have been set aside at the discretion of the Trustees' for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

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 2023
1
Accounting policies
(Continued)
- 11 -

Membership subscriptions are recognised in the year in which payment is received by the charity, in line with the NFWI accounting policy. The subscription is non-refundable and is therefore accounted for in the year of receipt. Any amounts received after the year end, for example, from joiners during the year, are accounted for in the following financial year as the charity is not aware of these until they are received.

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 2023
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.

1.13

Debtors

Debtors are recognised at the settlement amount due after any discount offered.

1.14

Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount.

THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 13 -
2
Donations and legacies
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2023
2023
2023
2022
2022
2022
£
£
£
£
£
£
Donations and gifts
2,005
2,936
4,941
249
1,515
1,764

Affiliation fees

65,645
-
65,645
63,430
-
63,430
THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 14 -
3
Charitable activities

Total funds

Total funds

2023
2022
£
£

Sub-committees: courses and events

26,927
28,703

Publication and stationery

335
390

Recharge County WI's insurance

2,083
1,583

Shropshire County news publications

3,975
3,912

AGM and Federation Council meeting

7,935
12,079
41,255
46,667
4
Other trading activities
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£

Shropshire Calendars

2,453
3,363

Claremont Club

1,485
889

NFWI raffle

553
607

Merchandise

2,128
1,695
Other trading activities
6,619
6,554
5
Investments
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2023
2023
2023
2022
2022
2022
£
£
£
£
£
£

Bank interest received

3,723
540
4,263
806
119
925
THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 15 -
6
Raising funds
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Trading costs

Merchandise

790
945

Shropshire Calendars

1,559
1,330

Claremont Club

994
499
Trading costs
3,343
2,774
3,343
2,774
7
Charitable activities

Total funds

Total funds

2023
2022
£
£

Sub-committees: courses and events

17,801
24,268

Publication and stationery

189
459

Affiliation fees

33,851
34,176

Shropshire County news publications

6,451
5,669

Irrecoverable VAT

2,301
1,845

AGM and Federation Council meeting

7,861
11,562
68,454
77,979
Grant funding of activities (see note 8)
680
517
Share of support costs (see note 9)
55,285
47,884
Share of governance costs (see note 9)
2,401
2,593
126,820
128,973
Analysis by fund
Unrestricted funds
126,820
128,698
Restricted funds
-
275
THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 16 -
8
Grants payable

Total funds

Total funds

2023
2022
£
£
Grants to individuals
680
517
680
517
9
Support costs
Support costs
Governance costs
2023
Support costs
Governance costs
2022
£
£
£
£
£
£
Staff costs
32,390
-
32,390
29,080
-
29,080
Depreciation
3,532
-
3,532
3,490
-
3,490

Subscriptions

130
-
130
85
-
85

County office expenses

12,466
-
12,466
6,568
-
6,568

Bad debt

19
-
19
7
-
7

Accountancy fees

2,140
-
2,140
3,385
-
3,385

Insurance

1,681
-
1,681
1,692
-
1,692

Office utilities

2,927
-
2,927
3,577
-
3,577

Board expenses

-
726
726
-
998
998

Independent examination

-
1,675
1,675
-
1,595
1,595
55,285
2,401
57,686
47,884
2,593
50,477
Analysed between
Charitable activities
55,285
2,401
57,686
47,884
2,593
50,477

The independent examiner's remuneration amounts to an independent examiner fee of £1,675 (2022: £1,595).

10
Trustees'

During the year ended 31 December 2023, expenses totalling £1,633 were reimbursed to 12 Trustees (2022 - £1,282). The amounts outstanding at the year end was £1,178 (2022: £186).

 

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 (2022 - £nil).

THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 17 -
11
Employees

The average monthly number of employees during the year was:

2023
2022
Number
Number
Administration staff
2
2
Trustees (voluntary)
12
11
Total
14
13
Employment costs
2023
2022
£
£
Wages and salaries
30,758
27,083
Defined contribution scheme
1,118
1,637
Defined benefit scheme
514
360
32,390
29,080
There were no employees whose annual remuneration was more than £60,000.
12
Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

13
Tangible fixed assets
Leasehold land and buildings
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 January 2023
165,794
8,195
6,673
180,662
At 31 December 2023
165,794
8,195
6,673
180,662
Depreciation and impairment
At 1 January 2023
29,494
7,472
6,170
43,136
Depreciation charged in the year
3,315
79
138
3,532
At 31 December 2023
32,809
7,551
6,308
46,668
Carrying amount
At 31 December 2023
132,985
644
365
133,994
At 31 December 2022
136,300
724
503
137,527
THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 18 -
14
Stocks
2023
2022
£
£
Finished goods and goods for resale
1,547
656
15
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1,762
3,561
Other debtors
504
107
Prepayments and accrued income
12,357
2,281
14,623
5,949
16
Creditors: amounts falling due within one year
2023
2022
£
£
Other taxation and social security
741
-
Trade creditors
10,158
1,469
Other creditors
2,062
1,158
Accruals and deferred income
10,619
7,619
23,580
10,246
17
Provisions for liabilities
2023
2022
Notes
£
£
Retirement benefit obligations
18
478
899
478
899
THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 19 -
18
Retirement benefit schemes
Defined contribution schemes

The charge to profit or loss in respect of defined contribution schemes was £1118 (2022 - £1637).

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 £453 (2022: £711) 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 £421 (2022: £731).

 

 

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

2023
2022
£
£
Present value of defined benefit obligations
478
899
Deficit in scheme
478
899

Movements in the present value of defined benefit obligations:

2023
2022
£
£
Liabilities at 1 January 2023
899
1,630
Movement in year
(421)
(731)
At 31 December 2023
478
899

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 2023
- 20 -
19
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 2022
Incoming resources
Resources expended
Balance at
1 January 2023
Incoming resources
Transfers
Balance at
31 December 2023
£
£
£
£
£
£
£
Denman bedroom fund
472
-
-
472
-
-
472
Denman travel fund
1,137
-
-
1,137
-
-
1,137
County bursary fund
1,548
119
(250)
1,418
540
-
1,958
Ethel Broadhurst memorial fund
725
-
(25)
700
-
-
700
Suspended institutes
3,791
1,515
-
5,306
2,936
(180)
8,062
7,673
1,634
(275)
9,033
3,476
(180)
12,329

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.

THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
19
Restricted funds
(Continued)
- 21 -

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 2023: £2,936, 2022: £1,515 and 2021: £3,611.

20
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 2022
Incoming resources
Resources expended
Transfers
Balance at
1 January 2023
Incoming resources
Resources expended
Transfers
Balance at
31 December 2023
£
£
£
£
£
£
£
£
£
Rainy day fund
1,835
-
-
-
1,835
-
-
-
1,835
NFWI raffle fund
1,150
607
(200)
(930)
628
553
(400)
72
853
Office fund
60,000
-
-
-
60,000
-
-
-
60,000
62,985
607
(200)
(930)
62,463
553
(400)
72
62,688

 

Rainy day fund

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

 

NFWI raffle fund

A raffle is held each year and it is at the discretion of the Trustees how to spend the net proceeds.

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. The balance is being held to cover future capital additions.

THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 22 -
21
Analysis of net assets between funds
Unrestricted funds
Restricted funds
Total
Unrestricted funds
Restricted funds
Total
2023
2023
2023
2022
2022
2022
£
£
£
£
£
£
Fund balances at 31 December 2023 are represented by:
Tangible assets
133,994
-
133,994
137,527
-
137,527
Current assets/(liabilities)
206,041
12,329
218,370
213,666
9,032
222,698
Provisions and pensions
(478)
-
(478)
(899)
-
(899)
339,557
12,329
351,886
350,294
9,032
359,326
THE SHROPSHIRE COUNTY FEDERATION OF WOMEN'S INSTITUTES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 23 -
22
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:

2023
2022
£
£
Within one year
380
619
Between two and five years
570
950
950
1,569
23
Related party transactions
Transactions with related parties

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

The Federation paid £71 (2022: £71) to Aroma Tea and Coffee, a business owned by trustee Mrs J M Turner. No amounts were outstanding at the year end (2022: £nil).

2023-12-312023-01-01falseCCH SoftwareiXBRL Review & Tag 2022.2These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime029960912023-01-012023-12-3102996091bus:Director12023-01-012023-12-3102996091bus:Director22023-01-012023-12-3102996091bus:Director32023-01-012023-12-3102996091bus:Director42023-01-012023-12-3102996091bus:Director52023-01-012023-12-3102996091bus:Director62023-01-012023-12-3102996091bus:Director72023-01-012023-12-3102996091bus:Director82023-01-012023-12-3102996091bus:Director92023-01-012023-12-3102996091bus:Director102023-01-012023-12-3102996091bus:Director112023-01-012023-12-3102996091bus:Director122023-01-012023-12-31029960912023-12-31029960912022-12-31029960912022-01-012022-12-3102996091bus:FRS1022023-01-012023-12-3102996091bus:IndependentExaminationCharity2023-01-012023-12-3102996091bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP