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REGISTERED COMPANY NUMBER: 02822778 (England and Wales)
REGISTERED CHARITY NUMBER: 1022578














Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31 March 2024

for

The Somerset County Federation of
Women's Institutes

The Somerset County Federation of
Women's Institutes






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Chairman's Report 1

Report of the Trustees 2

Independent Examiner's Report 3

Statement of Financial Activities 4

Balance Sheet 5 to 6

Notes to the Financial Statements 7 to 14

The Somerset County Federation of
Women's Institutes

Chairman's Report
for the Year Ended 31 March 2024

We have come to that time of year to share what the board of trustees and members have achieve. We have all worked hard to keep everything in the County running smoothly and in good order throughout 2023/2024.

Our County Sub Group Teams are always busy organising some wonderful events, we have had a good mix of events, that have been enjoyed by members throughout the year.

Members had a brilliant time the Ashbury/Manor Resort Activities holiday March. Another visit is planned for 2025.

Federation Community Projects Team have once again worked tirelessly within the community. Items have been given to the Food bank, Care Homes, Special Schools and of course the YMCA with your very generous contributions, especially to the Shoebox Appeal that are always received, we sent the pictures and thank you notes from the recipients.

15 October we held our Annual Meeting at The Pavilion Wessex Suite Bath and West Showground, our speakers for the day were Rosie Hather ARC Homeless Charity, Sally Mills Author and Environmentalists and Lesley Waters Celebrity Chef. Jo Stewart stood in at the last minute and gave a superb overview of all the Community Projects Team has done over the years, as Rosie Hather was unable to attend. Sally Mills and Lesley Waters shared with us their exploits throughout their careers, both were very well received by members. Thank you to everyone who made the day a success.

We welcomed Brena Court onto the board of trustees October 2023 Brena has joined the FELT Team (Federation Events and Leisure Team)

Thanks go once again to County News Editor Annie Makepeace for her work producing the monthly magazine
Also behind the scenes is Lindsay Birch our Graphic Designer and Laura Balkwill County News Advertising Assistant and Gallery Co-ordinator, send Laura your photographs and if you or anyone you know have anything to advertise in County News, she is the one for you to contact. We have very competitive rates.

Many thanks go to Casey and Judith for keeping the office running, helping members with all things WI and supporting the board of trustees
.
This years annual meeting was last time Casey Worrall organised the event, sadly we said farewell to her and Judith Laughton, Federation Assistant at the end of the year.

I have continued with my visits to WI's and enjoyed meeting members, joining in their celebrations I thank them all for their kind invitations.

The Somerset County Federation of
Women's Institutes (Registered number: 02822778)

Report of the Trustees
for the Year Ended 31 March 2024


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 March 2024. 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).

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
02822778 (England and Wales)

Registered Charity number
1022578

Registered office
344 Bristol Road
Bridgwater
Somerset
TA6 4BU

Trustees
Mrs A P Chadwick
Mrs D M Cooper
Mrs J L D Evans (appointed 3.4.23)
Mrs J P Glossop
Mrs T Hemms
Mrs A D Makepeace (resigned 23.11.23)
Ms S M Routley
Mrs J Stewart (resigned 11.12.23)
Mrs B Court (appointed 2.10.23)
Mrs E L Porter

Independent Examiner
Maxwells
Chartered Accountants
4 King Square
Bridgwater
Somerset
TA6 3YF

Approved by order of the board of trustees on 13 January 2025 and signed on its behalf by:





Mrs D M Cooper - Trustee

Independent Examiner's Report to the Trustees of
The Somerset County Federation of
Women's Institutes

Independent examiner's report to the trustees of The Somerset County 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 March 2024.

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.








Gavin Roberts, ACA FCCA
The Institute of Chartered Accountants in England and Wales

Maxwells
Chartered Accountants
4 King Square
Bridgwater
Somerset
TA6 3YF

14 January 2025

The Somerset County Federation of
Women's Institutes

Statement of Financial Activities
for the Year Ended 31 March 2024

31.3.24 31.3.23
Unrestricted Restricted Total Total
funds funds funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies (2,618 ) 38,859 36,241 38,206

Charitable activities
County News 11,165 - 11,165 4,519
Council Meetings 4,842 - 4,842 5,073
Sub-Committees 48,555 - 48,555 48,493
Other resources expended 36,076 - 36,076 6,542

Other trading activities 2 4,201 - 4,201 4,016
Investment income 3 8,620 - 8,620 7,688
Total 110,841 38,859 149,700 114,537

EXPENDITURE ON
Raising funds 943 37,932 38,875 4,854

Charitable activities
County News 5,882 - 5,882 13,969
Council Meetings 4,777 - 4,777 12,170
Sub-Committees 35,015 - 35,015 69,573
Other resources expended 78,496 3,362 81,858 27,376
Total 125,113 41,294 166,407 127,942

Net gains/(losses) on investments 203 - 203 (1,933 )

NET INCOME/(EXPENDITURE) (14,069 ) (2,435 ) (16,504 ) (15,338 )


RECONCILIATION OF FUNDS
Total funds brought forward 472,981 25,791 498,772 514,110

TOTAL FUNDS CARRIED FORWARD 458,912 23,356 482,268 498,772

The Somerset County Federation of
Women's Institutes (Registered number: 02822778)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Unrestricted Restricted Total Total
funds funds funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 395,645 - 395,645 404,976
Social investments 9 27,173 - 27,173 26,969
422,818 - 422,818 431,945

CURRENT ASSETS
Debtors 10 10,205 - 10,205 5,745
Cash at bank and in hand 49,482 32,638 82,120 87,982
59,687 32,638 92,325 93,727

CREDITORS
Amounts falling due within one year 11 (23,593 ) (9,282 ) (32,875 ) (26,900 )

NET CURRENT ASSETS 36,094 23,356 59,450 66,827

TOTAL ASSETS LESS CURRENT
LIABILITIES

458,912

23,356

482,268

498,772

NET ASSETS 458,912 23,356 482,268 498,772
FUNDS 12
Unrestricted funds 458,912 472,981
Restricted funds 23,356 25,791
TOTAL FUNDS 482,268 498,772

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.


The Somerset County Federation of
Women's Institutes (Registered number: 02822778)

Balance Sheet - continued
31 March 2024

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 13 January 2025 and were signed on its behalf by:





Mrs D M Cooper - Trustee

The Somerset County Federation of
Women's Institutes

Notes to the Financial Statements
for the Year Ended 31 March 2024

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, as modified by the revaluation of certain assets.

The financial statements have been prepared in accordance with applicable accounting standards and estimate techniques.

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 - 2% on cost
Fixtures and fittings - 20% on reducing balance

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.

Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.


The Somerset County Federation of
Women's Institutes

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. OTHER TRADING ACTIVITIES
31.3.24 31.3.23
£    £   
Shop income 4,201 4,016

3. INVESTMENT INCOME
31.3.24 31.3.23
£    £   
Rents received 7,642 7,058
Other Investment Income 978 630
8,620 7,688

4. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.3.24 31.3.23
£    £   
Depreciation - owned assets 9,331 9,544

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.


Trustees' expenses
31.3.24 31.3.23
£    £   
Trustees' expenses 400 484

6. STAFF COSTS

The average monthly number of employees during the year was as follows:

31.3.24 31.3.23
Management and administration 1 -

No employees received emoluments in excess of £60,000.


The Somerset County Federation of
Women's Institutes

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds funds funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 32,713 5,493 38,206

Charitable activities
County News 4,519 - 4,519
Council Meetings 5,073 - 5,073
Sub-Committees 48,493 - 48,493
Other resources expended 6,542 - 6,542

Other trading activities 3,489 527 4,016
Investment income 7,683 5 7,688
Total 108,512 6,025 114,537

EXPENDITURE ON
Raising funds 4,854 - 4,854

Charitable activities
County News 13,969 - 13,969
Council Meetings 12,170 - 12,170
Sub-Committees 69,573 - 69,573
Other resources expended 23,181 4,195 27,376
Total 123,747 4,195 127,942

Net gains/(losses) on investments (1,933 ) - (1,933 )

NET INCOME/(EXPENDITURE) (17,168 ) 1,830 (15,338 )
Transfers between funds 14,726 (14,726 ) -
Net movement in funds (2,442 ) (12,896 ) (15,338 )

RECONCILIATION OF FUNDS
Total funds brought forward 475,423 38,687 514,110

TOTAL FUNDS CARRIED FORWARD 472,981 25,791 498,772


The Somerset County Federation of
Women's Institutes

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 April 2023 and 31 March 2024 423,964 27,303 451,267
DEPRECIATION
At 1 April 2023 23,249 23,042 46,291
Charge for year 8,479 852 9,331
At 31 March 2024 31,728 23,894 55,622
NET BOOK VALUE
At 31 March 2024 392,236 3,409 395,645
At 31 March 2023 400,715 4,261 404,976

9. SOCIAL INVESTMENTS
Other
investments
£   
MARKET VALUE
At 1 April 2023 26,969
Revaluations 204
At 31 March 2024 27,173
NET BOOK VALUE
At 31 March 2024 27,173
At 31 March 2023 26,969

Cost or valuation at 31 March 2024 is represented by:

Other
investments
£   
Valuation in 2023 26,969
Valuation in 2024 204
27,173

If Charibonds Charities shares had not been revalued they would have been included at the following historical cost:

31.3.24 31.3.23
£    £   
Cost 28,500 28,500

Charibonds Charities shares were valued on an open market basis on 31 March 2024 by M&G Investments .

The Somerset County Federation of
Women's Institutes

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 1,451 -
Other debtors 1,216 -
Prepayments and accrued income 7,538 5,745
10,205 5,745

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Suspended WI deposits 6,941 -
Trade creditors 8,417 2,489
VAT 153 -
Other creditors 11,964 22,251
Accruals and deferred income 5,400 2,160
32,875 26,900

12. MOVEMENT IN FUNDS
Net
movement At
At 1.4.23 in funds 31.3.24
£    £    £   
Unrestricted funds
General fund 326,488 (14,069 ) 312,419
Pre Incorporation General 146,493 - 146,493
472,981 (14,069 ) 458,912
Restricted funds
Caring and Sharing Fund 1,231 - 1,231
NFWI AGM 14,106 1,078 15,184
Women's Institute Suspense Account 10,454 (3,513 ) 6,941
25,791 (2,435 ) 23,356
TOTAL FUNDS 498,772 (16,504 ) 482,268

The Somerset County Federation of
Women's Institutes

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

12. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£    £    £    £   
Unrestricted funds
General fund 110,841 (125,113 ) 203 (14,069 )

Restricted funds
NFWI AGM 42,372 (41,294 ) - 1,078
Women's Institute Suspense Account (3,513 ) - - (3,513 )
38,859 (41,294 ) - (2,435 )
TOTAL FUNDS 149,700 (166,407 ) 203 (16,504 )


Comparatives for movement in funds

Net Transfers
movement between At
At 1.4.22 in funds funds 31.3.23
£    £    £    £   
Unrestricted funds
General fund 328,930 (17,168 ) 14,726 326,488
Pre Incorporation General 146,493 - - 146,493
475,423 (17,168 ) 14,726 472,981
Restricted funds
Somerset Room 580 - (580 ) -
Caring and Sharing Fund 1,231 - - 1,231
Esme McLaurin Travel Fund 4,687 5 (4,692 ) -
NFWI AGM 14,535 3,766 (4,195 ) 14,106
Property Fund 8,702 527 (9,229 ) -
Taunton Embroidery 224 - (224 ) -
Women's Institute Suspense Account 8,728 (2,468 ) 4,194 10,454
38,687 1,830 (14,726 ) 25,791
TOTAL FUNDS 514,110 (15,338 ) - 498,772

The Somerset County Federation of
Women's Institutes

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

12. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£    £    £    £   
Unrestricted funds
General fund 108,512 (123,747 ) (1,933 ) (17,168 )

Restricted funds
Esme McLaurin Travel Fund 5 - - 5
NFWI AGM 3,766 - - 3,766
Property Fund 527 - - 527
Women's Institute Suspense Account 1,727 (4,195 ) - (2,468 )
6,025 (4,195 ) - 1,830
TOTAL FUNDS 114,537 (127,942 ) (1,933 ) (15,338 )

A current year 12 months and prior year 12 months combined position is as follows:

Net Transfers
movement between At
At 1.4.22 in funds funds 31.3.24
£    £    £    £   
Unrestricted funds
General fund 328,930 (31,237 ) 14,726 312,419
Pre Incorporation General 146,493 - - 146,493
475,423 (31,237 ) 14,726 458,912
Restricted funds
Somerset Room 580 - (580 ) -
Caring and Sharing Fund 1,231 - - 1,231
Esme McLaurin Travel Fund 4,687 5 (4,692 ) -
NFWI AGM 14,535 4,844 (4,195 ) 15,184
Property Fund 8,702 527 (9,229 ) -
Taunton Embroidery 224 - (224 ) -
Women's Institute Suspense Account 8,728 (5,981 ) 4,194 6,941
38,687 (605 ) (14,726 ) 23,356
TOTAL FUNDS 514,110 (31,842 ) - 482,268

The Somerset County Federation of
Women's Institutes

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

12. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£    £    £    £   
Unrestricted funds
General fund 219,353 (248,860 ) (1,730 ) (31,237 )

Restricted funds
Esme McLaurin Travel Fund 5 - - 5
NFWI AGM 46,138 (41,294 ) - 4,844
Property Fund 527 - - 527
Women's Institute Suspense Account (1,786 ) (4,195 ) - (5,981 )
44,884 (45,489 ) - (605 )
TOTAL FUNDS 264,237 (294,349 ) (1,730 ) (31,842 )

13. RELATED PARTY DISCLOSURES

Honorarium payments were given to Teresa Hemms for £150.00 and Donna Cooper for £250.00 agreed at trustee board meetings.

Trustees are reimbursed for travel and other miscellaneous expenses totalling £910.88.