The trustees present their annual report and financial statements for the year ended 31 December 2025.
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, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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)".
Objects and aims
The Powys-Radnor County Federation of Women's Institutes is part of the National Federation of Women's Institutes, an educational, social, non-sectarian and non-party political movement which offers women the opportunity for friendship and of working and learning together to improve the quality of life in the community, particularly in rural areas.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
This year included some new events and fund-raising opportunities which continued to promote the objects and aims of the WI movement, and included:
Powys Grand Draw
WI'nted Fashion Show
Murder Mystery
Federation Quiz Night
Our annual County Show, with members competing in cookery, craft, floral, art and photography sections
Poetry & Prose
Sports, including Bowls, Games Night and Golf
Chinese Auction
Supporting campaigns to promote the health of our rivers and the White Ribbon Campaign including a coffee morning, lunch and wellbeing day
Carol Service
Through the year, the Trustees maintained their co-ordinating role to ensure that members were kept in contact by:
Regular newsletters both in email and paper formats
Grouping individual WIs into Hub groups to allow sharing of resources and to spread events, information and training across the region to reduce travel
Regular contact to individual WI groups by Trustees to keep a communication flow
Ensuring the flow of information from National Federation to all WI groups which continued to support local/national campaigns for the public benefit of women.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Organisational structure
Powys Radnor County Federation of Women’s Institutes has an Executive Committee of up to twelve elected and four co-opted members. The Committee meets monthly to plan policy and organisation and strategy. These meetings are normally in-person, but we continue to have some meetings using virtual/hybrid communication to help reduce costs/travel impact and to minimise cancellation due to bad weather. At the date of this report, there are eight elected members and no co-opted members on the Committee.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
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:
The Trustees are elected to serve for a period of at least one year, after which they must be re-elected at the next Annual General Meeting. The Trustees seek to ensure that the needs and requirements of the National Federation and its area members group are appropriately reflected through the abilities of the trustee body. Potential trustees are recruited from within the area member groups.
Induction and training of trustees
All trustees undergo an induction programme when joining the Committee. The training includes the obligations of the trustees; the operational framework for the charity including the Memorandum and Articles of Association; resourcing and the current position set out in the latest accounts; future plans and objectives. This induction programme is provided as on-line training by the National Federation.
Principal funding sources
The principal sources of funding are affiliation fees, income from events, specific fundraising initiatives and the sales of WI books, publications etc.
Reserves policy
It is the charity’s policy to hold adequate reserves to meet twelve months expenditure.
Risk management
The Trustees have examined the major strategic, business and operational risks which the charity faces and confirm that such risks are continually under review so that the necessary steps can be taken to minimise these risks as far as possible.
The Board of Trustees will continue to provide a range of activities and education opportunities for the members of Powys Radnor Women’s Institutes. These will include a revised Games Night with a Halloween theme, an Inter-Federation Crazy Golf competition as well as a programme of Arts and Literature, Sports events.
The focus will continue to be on recruiting new members as well as retaining our existing members.
The trustees' report was approved by the Board of Trustees.
The trustees, who are also the directors of Powys-Radnor County Federation Of Women's Institutes for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
I report to the trustees on my examination of the financial statements of Powys-Radnor County Federation Of Women's Institutes (the charity) for the year ended 31 December 2025.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 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. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
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:
accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
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 financial statements 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.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Powys-Radnor County Federation Of Women's Institutes is a private company limited by guarantee incorporated in England and Wales. The registered office is Russell Rooms Place, 2A Market Street, Knighton, Powys, LD7 1EY.
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" 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)". 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.
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.
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 or grantors 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.
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.
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.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.
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 of assets less their residual values over their useful lives on the following bases:
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 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.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
The average monthly number of employees during the year was:
The remuneration of key management personnel was as follows:
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
The specific purposes for which the funds are to be applied are as follows:
Craft Club - a self-funding group to provide regular workshops for sharing and learning handicraft skills.
Denman Dip - a fund to which members contribute in order to win bursaries (by drawing lots) for the WI educational offering Denman.
Sports Lottery - managing a grant for the set-up, equipment costs and running of New-Age Kurling and Bocce events for Powys Radnor WI members.
Walking Netball - managing a grant for the set-up, training and initial running of regular Walking Netball sessions for Powys Radnor WI members.
WI Suspension - Inactive WI's are suspended and their funds held by the Federation for 3 years before closure. If the WI reforms within 3 years, the funds can be reclaimed.
The Waterloo Foundation funded the NFWI Wales to support WI members to act as Champions within their communities to end violence against women.
There were no disclosable related party transactions during the year (2024 - none).