BLIND IN BUSINESS "Helping Sight Impaired People Into Work" The Blind in Business Trust Report and Financial Statements Year Ended 31 March 2024 Charity Number 1011957
The Blind in Business Trust Contents Page Lesal and Administrative Details Patrons and Trnstees Independent Exaniiners Bankers TTUStees' Report Strncture, Govemance and Management Objectives and Activities Reserves Policy Financial Performance Future Developments Thanks 34 4-7 io Independent Examiner's Report li Financial Statements Statement of Financial Activitie5 Balance Sheet Notes 12 13 14-
The Blind in Business Trust Le l and Administratlve Details Patrons.. Sir Anthony Cleaver Sir Peter Gershon Baroness Nicholson of Winterknurne John Spence OBE David Watson Tn45tees.' Jane Cathrall (Choir) Robert Keller, (freosurer) Steve Norton Daniel Smith* Rupert Mark8 (appointed 30 May 2023) Daniel HaTtlaThd° (oppointed 30 May 2023) ' Sight impaired Members Director5.' Dan Mitthell James Mccarthy Regislered Office.. Blind in Business Trust MBX 102 690 London Road Grays RM20 3LD Tel: Email: Website.. 020 7588 1885 info@blindinbusine5s.or www.blindinbusiness.or Charity No., 1011957 Independent Examiner. Helen Cain, FCA Mercer & Hole LLP 21 Lombard Street London EC3V 9AH Bnnkers.. Metro Bank PLC Insisnis Asset Manasement
The Blind in Business Trust ort of the TTUStees of the Blind in Businesg Trnst for the ear endea 31 March 2024 The Trustees submit their annual report and the financial ststements for the year ended 31 March 2024 prepared in accordance with the provisions of the Statement of Recommended Practice: Accountin8 and Reporting by Charities (SORP 2019), applicable Accounting Standards in the UK and the Charities Act 2011. Strncture Governance and Mana ment Governin Document The Trust was founded on June 1st 1992. The Blind in Business Trust, which is a registered charity in En8land and Wales, 15 operated under the rules of its Deed of Settlement dated 10 November 2005. This document was updated to Tefresh the doeunnt by Pro-Bono support from Morgan. Lewi5 & Bockius UK LLP and was approved by the Charity Commission after September 20 2022. OAntment of Trnstees The governance of the Trust is the responsibility of the Trustees who are appointed to the Board under the terms of the Deed of Settlement. Appointments to the Board are made on the basis of the skills needed for the operation of the Trust. New Trustees are appointed by the Board at Board meetings. GDPR We continue to abide by all Government regulations. We use back-ups to the cloud which are encrypted. Our website is GDPR compliant in respect of the data of visitors who set in touch with us and book events through the site. Safe ardin vulnerable Safeguarding and protecting young vulnerable people has always been our priority. All staff have DBS (Disclosure and Barring Services) checks and acce&8ible safeguarding training. Trustees are asked to either provide proof of a DB5 check or for the charity to reimburse them for this documentatio Trustees are recommended to have trainins if they have not previously undertaken such trainin& Trustees are given suggestions on further safeguardins by the staff. All staff are aware of how to work with vulnerable young disabled people and have yearly training provided by the NSPCC. We produce risk assessments for our face-tt>face work and have policies in place to protect everybody we support.
The Blind in Business Trust nisation The Board of Trustees administers the charity. The Board meets quarterly and formally, and Trustees are encouraged to visit the charity and are made welcome, as both sides discuss present operations and future developments. The charity also has a Finance Committee and a People Committee that meet prior to Trustee meetings. Directors aTe appointed by the Trustees to manase the day to day operations of the charity. The Directors have en given delesated authority, within the terms of delegation approved by the TTUStees, for operational matters including finance, employment and related activities. Related arties The Charity has no business relationships with related parties. Risk Mana ment The Trustees have a risk management strategy which compTises: an annual review of key risks the charity may face: the establishment of systems and procedures to mitigate those risks identified in the review; the implementation of procedures desisned to minimise any potential impact on the chaTity should those risks mateTialise. The Trustees have undertaken a review of major risks, as required under the Statement of Recommended Fractice. They have considered and agreed appropriate control processes and developed actions to manage those risks. Ob'eetives The obj'ectives of the Trnst are to encourage sight impaired children into further education and appTenticeships. and to support sight impaired university Students and graduates into good jobs. Another obiective is to work with employeTS so they become even more willing to take these graduates and apprentices into their early career scheme5. The Trust helps young sight impaired people to develop the confidence to match their qualifications and abilities with employment opportunities. Throush employability Support, mentorin& work experience, assistive technology and trainin& the Trust supports sight impaired young people to compete equally with their sighted peers in the job market. The Trustee5 have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing their objectives and in planning future activities. In particular, the Trustees consider how planned acttvities will contribute to the aims and objectives they have set.
The Blind in Business Trust Activities The Trust operates throughout the UK from an office near Old Street in London. This office is provided by the Rank Foundation at a much reduced rate. as an offering for Charities to share ideas and work in London. The office provides training rooms and hot-desks for staff to use and this new approach started in December 2023. We use a MBX (mailbox) for correspondence at the Rank Foundations request. There were up to six staff during the year, helped by interns and students who undertake work experien with the Trust. We have volunteers of the hishest calibre, able to guide candidates interested in working in their areas. We are grateful to the many sight impaired people who act as mentors and give enthusiastic. professional and practical help to the new young sight impaiTed people with whom we work. We receive a lot of referrals to our services throu8h word-of-mouth recommendations from people who have successfillly ensaged with the service in the past. In additio we have an increasing pipeline of referrals throush relationships that we have built with the careers and disability services at universities, specialist teachers at schools, colleges, and councils, various charities in the sight loss sector, and contacts at eye hospitals such as MooTfields. We also Teceive self-referra15 through our website and social media channels. We worked with a range of employers, showing them how straightfonvard it can be to employ sight impaired people, once the first barrieTS of anxiety about reasonable adjustments in key areas such as equipment and mobility are overcome. We discuss with the employers the practical adaptations that can be made and can give many examples of where it has been done successfully. We showcase how straightforward these adjustments can be to implement by helping employers to create and run work experience and internship opportunities for the youns people that we supporL ment Service Paid placements = 57 Voluntary placements - 51 The employment service supports sight iTnpaired young adults (18+) Into internships, apprenticeships. and graduate jobs. In 2023/24 the service supported 57 people into paid placements and 51 into internship and voluntary placements. This total of 108 is a Tecord for the OTganisation. The key impact driver of the employment service is the commitment to offerin8 tailored. one-t(Fone support to every candidate. We know that other organisations offering employability support follow structured prosramme focusing on writin8 Cvs and cover letters with a pre-set timeline and dear beginnin8 and end. The Blind in Business employment service takes a holistic approach understanding that the barriers to emploirynent for each of our candidates will always be unique so therefore our support offering must match. This means we do not place any time Limits or have any restTictions on how often. or at what stage of their career. our candidates can access the service. Throushout the year the Employment Senrice runs a range of events that our candidates can choose to attend. These include".
The Blind in Business Trust Industry insight sessions Interview and assessment centre preparation workshops Residential Education to Employment events Peer support drop in sessions Alumni networking evenings We ran two Education to Employment events in the summer of 2023. These were based in Birmingham and London and were well attended with 25 sdents joining from across the UK. In London the students spent a day scaling heights and conquering fears at the Castle rock climbing centre before attending a networking dinner in central London. On the second day we hosted a practice assessment centre with corporate volunteers joining from the Bank of England, HSBC, Vision Foundation, Oxfam, WS Iaw, London Stock Exchange Croup. and the RSA Group. All students took part in four practice interviews receiving feedback from each. The second Education to Employment event took place in Birniingham where we sped down a ski slope and spent an afternoon of outward-bound team building. The second day was supported by HSBC who hosted an insight morning and assessment afternoon at their UK head office. We aanged industy insight events with the following employeTS in 2023/24: KPMG NHS Virsirk Media 02 Chanse 100 Capgemini EY Financial Times We ran two virtual mock assessment centres and mock interviews for students and graduates. With recruitment now taking place both virtually and face to face, we have continued to support students and graduates with navigating the recruitment process online. We ran online drop-in sessions with sixteen universities and have run staff'lunch and learn, trainins sessions with the careers and disability staff at four universities. We have a150 contacted all UK universities with details of our website. university newsletter, podcasts. and social media platfOrn. Pathwa s Setvice Previousl named Tralnin Service We launched our new Pathways Service in March 2024. Pathways brings the current BIB training and Work experience offerings together under one roof, so that we have a single clear access point for all support options aimed at undei 185. The objective of Pathways is to raise the employability, confidence. and aspirations of sisht impaired youns people. Pathways will create a pipeline of young adults who will be ready to move on to the Employment Service and into SUC$$fUl, long-lasting caTeers. In 2023/24 through our work experience e project and training workshops we supported 308 young people between the ages of 13 and 25.
The Blind in Business Trust Trainin worksho Our flagship training Workshop is Buildins Prospects (BP). BP is a 5-week series of virtual workshops aimed at building employability skills by exploring how to find a job you are passionate about, discovering transferable skills, developing interview skills, and building confidence by exploring reasonable adjustments and self-advocacy. In 2023/24 we ran six series of BP, each with between five and ten young people joining from across the UK. Due to demand, we also developed and Tan a pilot series of BuÉldins Prospects 2. This is an additional workshop series for those that have completed BPI and want to continue their joumey with Blind in Business. BW2 focuses on exploTing post-16 and post-18 options, job applications, assessment centres and interviews. along with further exploring self-advocacy in education and the workpla. Following universally positive feedback from the pilot group we are rollins out the BP2 series at full capacity for the upcoming year. We ran our Expectations Exceeded role model workshop virtually every three months. In these workshops we invite a sroup of our alumni talk about their exPeTie[s from education into employment followed by a question-and-answer session. These sessions are open to young people along with parents and education professionals. We offer our reasonable adjustments workshops to local sightloss organisations, sensory services teams in councils, schools and Colleges where we plan and deliver a tailored session based on self-advocacy and reasonable adjustments for the young people that they support. This year we ran in person reasonable adjustments workshops at Bexley Council, Dorset Council, Henshaws charity, Coventry College, Linden Lodge School, Oxted School, St Joseph's Catholic School, and the vIcfA charity summer camp. Work erienee In complement to our training workshops we offer young people the chance to gain their first taste of work experience. Throughout the year we delivered eight cohorts of our in-house work experience challenges where we set a group of students a workplace project to complete over a week during their summer holidays. The Students Dlust a5518n positions and responsibilities within their team and work towards an end goal. These week5 have ranged from event planning project5 Looking at mass participation sports events for young Vl people. to awareness publicity campaisns exploring accessible tran5POTt. Over 2023/24 we have had 45 students join our work experience weeks. Alongside the in house work experience we also engaged with a variety 0£ businesses to (Te3te in person work expeTience opportunities for the young people that we support. Work experience placements were aanged with: Cadent Gas, EdenTree Investment Management, Nicholsons and Co, British Heart Foundatiow Forte Dorset Museum, Moorfields, Vecar Digital Progranunin& British Psychological Society, Tesco. Finance We have continued to work hard to raise the antS needed to maintain the operation. Fundraisins has been challengin& but it is carried out successfully by Dan Mitchell, and we have benefited from our applications complying with the grant makers, policies, and by reportin8 on our uses of their grants on time and in detail.
The Blind in Business Trust The charity has no formal or contractual links, parinerships or subsidiary a8reements with any other tharities, and relies entlrely on funding from gTant-makins bodies, companies and individuals. Reserves PolA The TTUStees aim to ensure that reserves of at least six months of expenditure are maintained. We are fortunate in having at least nine months, reserves at the end of the financial year. This wiIl enable the Charity to: {a) operate in a sound manner as a going concern even durins any temporary slow-down in fundraisingp and/or (b) be operated and wound up in an orderly fashion in the event of a decision by the Trustees to cease operations. The level of reserves required is reviewed and awed a1UallY by the Trustees based on a Tecommendation from the Treasurer. In considering the appropriate level the Treasurer and the TTUStees have regard to the CUeTrt and expected operating expenses of the Trust and will seek to maintain sufficient funds to cover these expenses. Investment owers and olic The charity has the power to Anvest in any way the Trustees see Eit. hi practice, in view of the size of the charity and therefore the relatively low level of reserves, assets are held in cash at bank including on short term deposit at banks. In 2024 the Trustees researched and agreed upon using the Insignis investment platforni. This combines accessing a variety of saving accounts only with positive interest rates. so the Charity can benefit from hisher interest rates on reserves. Financial erforniance Income and ex enditure Our total income this year was £398,775 {2023'. £250,531) and our total expenditure was £335,13912023: £295,152). This 15 a surplus of £63.636. In the 2023/2024 fiscal year the Trust ratsed fj98,775, an increased amount of income on the previous year (2023: £250,531). Restricted reserves weTe £286,529 (20J: £165,755). u[eStrICted reserves were in a deficit of -£84,392 (2013: _£27,254). The Trust will look for opportunities to increase its activities throush new projects as they arise and where there are committed grant-makers. There is a concentrated effort to remove the historic unrestricted reserves deficit by seeking long teTni funding from Tespected TTht5 and Foundations throughout the UK. Future Develo ments in the Chari The Trust will continue to work in the various ways we have described above. School leavers, Sdents and graduates have continued to seek our help by email and phone and Eace to face.
The Blind in Business Trust We will continue to draw on our larse numbers of past candidates, and our professional volunteers and alumni to offer mentoring and support to new candidate5. We will continue to visit universities or work virtually to attract students to our services. particularly when they graduate. We ask all we work with to tell others about our work. as word of mouth continues to be a strons introduction to our services. We will continue to work with school aged children and school-leavers, includins their families to develop theiT confidence and aspirations of employment. We will explore new ways to attract $18ht impaired students and encourage them to WOTk with our free employment service. This will include developins our social media, marketing and PR strategy to support the Tnt'S activities.
The Blind in Business Trust Thanks We are particularly grateful for generous donations from the City Bridge Foundation, EdenTree. The Band Trust, The Powell Family Foundation and the Thomas Pocklinston Trust. We reiVed a substantial legacy from the late Ernest Alfred Durieu. We thank the Trustees of the Lesacy for considering Blind in Busine5S. Some funders remain anonymous and at their request have been removed from this list. The Livery Companies of the City of London have been generous in their donations. They are the Worshipful Companies of: tnsurers, Coopers, Clothworkers, Li8htmongers, Cordwainers, Brewers, Baron Davenport Charity Bentley Motors Big Lottery Awards For All England Big Lottery Awards For All wales Big Lottery Community Fund Cadent Gas Charles S French Charitable Trust Christopher Rowbotham Charitable Trust Dentons Dorothy Hay-Bolton Charitable Trust Dumbreck Charity Eveson Charity Gowling WLG Koolesh Shah Family Foundation Lillie C Johnson Charity London Stock Exchange Group (LSEG) M&G PLC Marsh Christian Trust Persula Foundation Portal Trust Slr James Roll Charitable Trust Steel Charitable TTUSt Ulverscroft foundation Vision Foundation & Fight for Sight Weinstock Fund WO Street Charitable Foundation Woodroffe Benton Foundation WS Law Zochonis Charitable Trust Approved by the Board of TTU5tee5 on .........16/10/24.......... and signed on behalf by: Jane CathralL Chair Robert Keller, Treasurer io-
The Blind in Business Trust Independent Examinerfs Report to the Trnstees of The Blind in Business Trust for the year ended 31 March 2024 I report to the charity trustees on my examination of the accounts for the year ended 31 March 2024, which are set out on pages 12 to 24. Responsibilities and bagis of report As the charitYs trustees you are respolbIe for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act.). I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent exaJninerf5 Statement I have cornpleted my exaniinatiorn I Confir that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting Tecords were not kept in respect of the charity as required by section 130 of the Act; or the accounts do not accord with those records,. or 3. the accounts do not comply with the applicable requirements Concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. 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. Helen Cain FCA Mercer & Hole LLP 21 Lombard Street London EC3V 9AH li-
The Blind in Business Trust Statement of Financial Activities for the ear ended 31 March 2024 Unrestricted Restricted Total Unrestricted Restricted Total funds funds 2024 funds 2023 Notes Income from Donations, le8acies and other income 78,062 1,215 319,498 397560 1,215 69,155 361 181.015 250,170 361 Investments Total income 79,277 319,498 398.775 69.516 181,015 250,531 Expenditure on Raising funds 17,827 17,827 18,311 18.311 Charitable activities 118,588 198.724 317.312 99.566 177,275 276,841 Total expenditure 136,415 198,724 335,139 117,877 177,275 295,152 Net income/ (expenditure) (57.138) 120,T74 63.636 (48J61) 3,740 (44.621) Transfer8 between funds Net movement in funds 57.138 120,744 63.636 48,361 3.740 44,621 Reeonciliation of funds: Total funds brought forward 14 (27,254) 165,755 138,501 21,107 162,015 183,122 Total fund$ carried forward 14 84,392 286529 201137 27,254 165,755 138,501 All income and expenditure are derived from continuing operations. The Trnst has no recognised gains or Ios5e5 foT the year ended 31 March 2024. There is no material difference between the results shown above and the results on an historical cost basis. 12-
The Blind in Business Trust Balance Sheet as at 31 Matth 2024 2024 2023 Notes Fixed assets Tangible assets io 8.023 5,344 Current assets Debtors li 8,323 238,689 247,012 34.266 164,123 198,389 Cash at bank and in hand Total current assets Creditors: amounts falling due within one year 12 52,898 65.232 Net cuent assets 194114 133,157 Net assets 202,137 138,501 Total Charity Funds Unrestricted funds 14 (84,392) (27.254) Restricted fund5 14 286529 165.755 Total funds 202,137 138,501 Approved by the Board of Trustees on .. ......16/10/24.......and signed on its behalf by: Trustee: Jane Cathrall 13-
The Blind in Business Trust Noteg fonnin art of the financtal statements Eor the ear ended 31Jt March 2024 l. Accounting policles The principal accounting policies which are adopted consistently in the preparation of the financial statements aTe Set out below. Basis ofaccounting The financial statements have been prepaTed in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities Preparing their accounts in accordance with the Financial Reporting StandaTd applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Accounting Practice. The financial statements do not include a cash flow statement because the Charity, as a small reporting entity is exempt from the requirement to prepare such a statement under Update Bulletin I, Charities SORP (FRS 102). The financial ststements have been prepared to give a 'tnJe and fairf view and have therefore necessarily departed from the extant Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair, view. This departure has involved following the Statement of Recommended Practice: Accounting and Reporting by Charities applicable to charities PTeparins their financÈal statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 2 October 2019 rather than the Statement of Recommended Practice: Accounting and Reporting by Charities effective from l April 2005, which has since been withdrawn. The financÉal statements are prepared in sterlin& which is the functional currency of the charity. Monetary amounts are rounded to the nearest £. InC0e Income is accounted for on an accruals basis in the period in which the charity is entitled to receipt and where the amount can be measured with Teasonable certainty. The main categories of incozne are: Donations and legacies which are in response to funding requests Grants receivable which have been awarded to pay for specific costs Fee5 for services and use of equipment Donations for the use of Blind in Business consultins servi$ Investment Income (interest only) Gouernment grartts Government srants are reco8nised at the fair value of the asset received or receivable when there 15 reasonable assurance that the grant conditions will be met and the 8rants will be received. A grant that specifies performance conditions is Tecosnised in other income when the Performan condition5 are met. Where a grant does not specÉfy peTformance conditions it is recogni5ed when the proceeds are received or receivable. A Srant received before the TecOltiOn criteria are satisfied is recognised as a liability. Defrrred income Restricted income received during the year is only deferred if the donor has specifically requested that it is for a period or activity beyond the current year. It is then brought into the accounts in the appropriate period. -14-
The Blind in Business Trust Accrued incoine tncome is accrued where funding has been agTeed for a period and the expenditure incuned but the donor has yet to release funds. This occurs in some instances when a retum is required after monies have been spent to enable funds to be Teleased. Intangtble income gifv In kind Fixed assets donated to the eharity aTe included as donation income at valuation at the time of receipt. Donated facilities and services are included in income at a valuation which is an estimate of the flnancial cost borne by the donor where such a cost is quantifiable and measurable. No income 15 reCO1Zed where there is no Einancial cost borne by a third paty. No amounts are included in the financial statements for services donated by volunteers. Expenditiire Expenditure is reco8nised in the period in which it is incurred on an accruals basis. Choritable expenditure Includes all costs relating to delivering the eourses, employment services, equipment and raising the awareness of everyone to the needs and opportunities of sight impaired children and graduates. Governance costs All costs that directly relate to the governance of the charity. This includes the examiner's fee and the proportion of accountaney work that relates to governing the charity. Cost ofgeneratingfynds These include the salaries. direct expenditure and overhead costs of the staff and volunteers who undertake fund-raisins activities. Support C05t5 Support costs Tepresent the costs of the office and the costs incurred by staff directly providins support to projects and other activities in furtherance of the obj.ects of the charity, ineludin8 managemenL supervision, training and technical support. Basi5 ofullocalion Basis of allocation reflects the method used to allocate costs. Activity cost Allocated for individual transactions Floor Space Allocated on the floor space used by that activity stream Staff Time Allocated on the basis of staff time spent Usage Allocated on a fixed % basis a8reed for each year. Stnff costs and emoliiments Blind in Business makes contributions to staff personal pensions. These costs are char8ed in the accounts as incurred. Funds Reslricfedfvnd5 Restricted funds comprise the amount of donation income which. at the request of the donor, may be applied only for a specific purpose. The funds thus reserved will be released onIy to meet expenses incurred for that purpose or where the donor consents to a different application of the funds. Unrestrictedfvnds -15-
The Blind in Business Trust General funds are unrestrkcted funds which are available for use at the discretion of the Trustees in furtherance of the general obiectives of the charity. The Trustees monitor the size of the funds to ensure they remain in Proportion to the activities of the Trust. Opertzting lease Rentals applicable to operating leases are charged to the statement OE financial activities on a straight-line basis over the lease ternL Fixed assets Assets with a purchase price eater than £2,000 are capitalised at cost. Depreciation is charged on a straight-line basi5 $0 as to write off each asset over its estimated useful life,. typically 4 years for fixtures and fitttngs, and 3 years for computer equipment. Where assets are purchased as part of a project the assets are fully written off in the yeaT of purchase. The Trustees believe this policy is prudent given the nature of the asset purchased and the potential for loss of control over PToject assets, for example where they are donated to schools, other organisations or individuals. VAT Value Added Tax suffered by Blind in Business is not recoverable and is charged to the SOFA or capitalised as part of the cost of fixed assets as appropriate. 2. Income from donations and legacies Unrestricted Restricted funds funds 2024 2024 Unrestricted funds 2023 Restrieted funds 2023 Total 2024 Total 2023 Individuals 1,061 1,061 1394 2,394 Charitable foundations 319.498 396,499 66,761 181,015 247,776 78,062 319,498 397.560 69.155 181,015 250,170 3. Income from investments 2024 2023 UK bank interest re1vable 1,215 361 16-
The Blind in Business Trnst 4. Expenditure on raising fund8 2024 2023 Staff costs 17.095 732 17,527 Office expenses 17,827 18,311 5. Expenditure on charitable actÈvities 2024 2023 Staff costs 216,416 17,115 57,788 4,412 10,119 5882 I86,9 2,904 68,090 1.521 8,675 4602 Travel costs Office costs Equipment costs Professional fees Depreciation Expenditure on charAtable activities, excluding governance costs 311,732 271.801 Governance costs: Independent examinerfs remuneration 3,980 1,600 317,312 3,120 1,920 276,841 Accountancy services 6. Total resources expended Staff Direct Support Costs Total 2024 Staff Direct Support costs Costs Total 2023 costs Notes Raising funds Charitable activities Governance costs 17,095 216,416 732 8,719 5.580 17,827 17527 311,732 186,009 16,206 5580 5.040 18,311 69,586 271,801 5,LllO 86,597 Total 233,511 15.031 86,597 335,139 203,536 22,030 69586 295,152 -17-
The Blind in Business Trust 7. Net income/(expenditure) This is slated after charging: 2024 2023 Examiner's fee 3,980 11,719 5,882 1,986 23,567 3,120 8.675 4.602 Accountancy servi5 Depreciation Loss on disposal 16,397 8. Emoluments of employees No employee emoluments during the year, as defined for taxation purposes, amounted to over £60,000 (2023 - £60,000). The Trnstees have received no remuneration or reimbursement of expenses incuned in the couJse of their duties. The average number of employees analysed by function on a Eull time equivalent (FfE} basis was as follows: 2024 2023 Generating funds Charitable activity 0.60 o.io 532 4.48 5.92 4.58 2024 2023 Wages and salaries Employer social security payments Employer pension contributions 209,878 11,641 11,989 173A41 18,978 11.117 233508 203536 9. Pen$ion costs For qualLfyins employees (those with more than six months, service) the charity contributes to the employee's chosen personal pension fumd, up to IO% of their 8ross salary on condition that the employee 18-
The Blind in Business Trust makes contributions of his or her own. On this basis the charity does not run an occupational pension scheme. 10. Tangible fixed assets offi Fixtures and equipment Fittings Total At cost At 01/04/23 Additions durins the year Disposals during the year At 31/03/24 18,297 10,547 6,944 21.9) 2,335 20,632 10547 9,279 2,355 21,900 ciation At 01/04/23 Charge for the yeaT Disposals in the year At 31/03/24 14,488 5,493 6,104 13.877 800 15,288 5882 7.293 13.877 389 1,189 Net book value at 31/03/24 Net book value at 01104/23 8.023 8,023 3,809 1,535 5244 All fixed assets are held for direct charitable purposes. All disposals were disposed or siven to charity - no proceeds have been received due to disposals. 11. DebtOTS 2024 2023 Trade debtors Accrued income 193 8,962 15,355 2,126 7,823 Piepayments Other debtors 95 8,035 8.323 34,266 -19-
The Blind in Business Trust 11 Czeditors: amounts failing due within one year 2024 2023 Creditors Trade creditor5 3,051 9,677 18,879 4,625 29,(KJO Taxation and social security Other creditors 5,661 17,762 7,142 22.333 Accruals Deferred income 52,898 65,232 Deferred income Balance brought forward Income deferred in the year Released in the year 29,OtKi 51,750 (58AIT) {21000) 65,120 {58,120) Balance carried forward 22.333 29,000 13. Conimitments: operating leases At the reporting end date, the charity had outstanding commitments for future minimum lease payments under non-cancellable operating lease5, which fall due as follows: 2024 2023 Within one year Between two and five years 1,994 25,476 80,673 -20-
The Blind in Business Trust 14. Accumulated funds Analysis of movements in funds - current year: Balance at 01/04/23 Movement in resources aosins balance before transfers 31/03124 tncoming Outgoin8 Unrestricted fund 27,254 165.755 79,277 319.498 136.415 198.724 (335,139) 84.392 286529 Restricted funds 138501 398,775 202,137 Transfer between fund$ aosins balance before transfers aosins balance after transfers Incoming Outgoing Unrestricted fund 84,392 286529 84J92 286,529 Restricted funds 201137 202,137 -21-
The Blind in Business Trnst Analysis of movements in funds - previous year." Movement in resour5 Incomin8 Closing balan before transfers 31/03/23 Balance at 01/04/22 Outgoing UestrICted fund 21,107 162.015 69516 181,015 250,531 117,87 177.275 (295,152) 27254 165,755 138501 Restricted funds 183,122 Transfer between funds Closing balance before transfers a05ing balance after transfers tncoming Outgoing Unrestricted fund 27,254 165,755 27,254 165,755 Restricted funds 138,501 138,5)1 -22-
The Blind in Business Trust 15. Balance sheet analysis by fund Unrestricted fund Restricted fund Total 2024 Unrestricted fund Restricted fund Total 2023 Fixed Assets 7,665 358 8,023 4,150 1.194 Current assets Debtors Cash at bank and in hand Total cutTent assets 2.903 5,420 8,323 12,779 21,487 34,266 44295 283.084 238,689 12549 151574 164.123 (41,492) 288,504 247,012 25,328 173,061 198,389 Current liabilitie5 Creditors 50,565 2,333 52,898 56,732 8,500 65,232 Net current assets/(liabilities) (92.05T) 286,171 194,114 (31,404) 164561 133,157 Net assets/(liabilities) {84292 286.529 202,137 (27,254 165.755 138,501 16. Related party transactAons Remuneration of kry m&nngement per50nnel.. A total of £121776 (2023.. £125,330) wa5 paid to key management personnel during the year.