2025-05-31-accounts

The Living Paintings Trust Trustees’ Report & Financial Statements 2024-25

Company registered number: 03095963 Charity registered number: 1049103

Contents

Contents

Report of the Trustees for the year 1st June 2024 to 31st May 2025

Welcome from our Chair . . . . . . . . . . . . . . . . . . . . . 3 Our work . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 The difference we make . . . . . . . . . . . . . . . . . . . . . 5 Our Year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6 Our impact . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Martha’s story – case study . . . . . . . . . . . . . . . . . . 8 Highlights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Jenni and Bella story – case study . . . . . . . . . . . 12 Focus on publishing . . . . . . . . . . . . . . . . . . . . . . . 14 Amelia’s story – case study . . . . . . . . . . . . . . . . . 18 The financial picture . . . . . . . . . . . . . . . . . . . . . . . 20 The future . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 Conclusion from the CEO . . . . . . . . . . . . . . . . . . . 22 Objectives and Activities . . . . . . . . . . . . . . . . . . . .23 What we do and why we do it . . . . . . . . . . . . . . . . 23 Living with sight loss . . . . . . . . . . . . . . . . . . . . . . . 24 Vision, purpose and values . . . . . . . . . . . . . . . . . . 25 Our work plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 Structure, governance and management . . . . . . 28 Financial review . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 Reserves policy, risk management, sustainability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 Administrative and professional information . . . 35 Statement of Trustees’ responsibilities . . . . . . . . 37 Report of Independent Auditors . . . . . . . . . . . . . . 38 Statement of Financial Activities . . . . . . . . . . . . . 42 Balance Sheet at 31st May 2025 . . . . . . . . . . . . . 43 Cash flow statement . . . . . . . . . . . . . . . . . . . . . . . 44 Notes to the Financial Statements . . . . . . . . . . . . 45

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Welcome from our Chair

Living Paintings Trustees Report and Financial Statements to 31st May 2025

Welcome from our Chair, Cat Bailey

This year, Living Paintings has continued to build on our 10x10x10 mission – with increased visibility, more diverse content and wider collaborations to ensure we stay highly relevant to our beneficiaries.

We had the incredible opportunity to partner with Google, with our unique Touch-to-See version of The Gruffalo, now permanently installed at Google's Accessibility Discovery Centre in London . Relationships such as these raise awareness of our work's importance and demonstrate the institutional recognition we receive .

Our role transcends far beyond being 'just a library' . We are a force for inclusion, representation, and for delivering a sensory childhood and education to young people who are blind or visually impaired . Our team continues making great strides in raising our profile and reaching new audiences across social, digital and traditional channels . Scarlett, one of our young beneficiaries, appeared on CBBC's Newsround to champion accessible literature and advocate for the lifechanging service our charity offers to children across the United Kingdom .

Strong relationships have been a constant focus this year, enabling us to deliver on our strategy . As we create more books, we carefully manage expectations of publishers, authors, illustrators and donors to continue delivering exceptional quality to our beneficiaries. I am always proud of the beautiful, impactful and accessible picture books and box sets we create . It is testament to our team that we are trusted by so many established and emerging authors – and famous names who lend their voices to our audio narrations .

We are delighted to report Royal recognition for our Chief Executive, Camilla Oldland . Camilla joined the charity at its founding in 1989, becoming Chief Executive the following year . Under her leadership, Living Paintings has become a progressive publisher and leader within accessibility . Camilla was awarded an Officer of the Order of the British Empire in the King's Birthday Honours, June 2024 . Congratulations and very well deserved!

We hope you enjoy reading about our year and how we remain determined to transform the lives of more children and families navigating today's complex world with severe sight loss .

Cat Bailey Chair of the Board of Trustees

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Our work

Our work

Bringing the visual world of pictures, books and learning to life for children and young people who are blind and visually impaired.

Every day, four families in the UK are told that their child is losing their sight. It can be a devastating diagnosis, shattering their perception of parenthood and creating uncertainty over their child’s future . How will they be able to enjoy a bedtime story together? How will they keep up their learning at school? How will they make friends if they can’t join in with the simple things that sighted people take for granted? These are just some of the questions we hear from families faced with such a diagnosis .

With 80% of the information our brain receives reaching us through our eyes, blindness can have a detrimental impact on social and educational development at every stage of their lives . More than anything, parents want their children to feel included in the visual world – and to have access to the same opportunities as every other child .

Living Paintings exist so that no blind child has to miss out on the images that colour and inform all our lives . For 36 years we have been creating unique ‘Touch to See’ experiences for blind and visually impaired children and young people that bring the visual world of pictures, books and learning to life through touch and sound .

The service we provide is simple yet innovative and impactful . From adapting the world’s best-loved picture books into accessible formats to creating tactile-audio experiences linked to the National Curriculum and a range of interests all youngsters share, everything we create is handcrafted with love from our Kingsclere production studios . Each of our tactile images comes with an audio description that guides little fingers over the raised images, helping youngsters build up a picture in their minds eye and ‘see’ through touch .

Everything in our growing collection of Touch to See books and box sets is available to borrow for free from our postal library for blind children, so – no matter their financial situation or location – we can be there for every child, family or school that needs us .

Our accessible library

As a parent being able to read a bedtime story with your child is something that you would normally take for granted and something that we didn’t think would be possible when our son was first diagnosed but now thanks to you, it’s something that we can enjoy as a family.

Parent

6,000+ 7,800+

blind and visually accessible Touch impaired people to See books and of all ages benefit resources in our from our free collection . accessible library .

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The difference we make

The difference we make

Daniel, aged five and Peter, aged three were both diagnosed with a condition that causes severe sight loss that their father, Andy, also grew up with . Books from Living Paintings have been invaluable for the boys, and it’s something that Andy is amazed about .

“I’m so used to being able to see what little I can see and so I don’t know what I’ve missed out on. But Daniel and Peter get so much out of the Living Paintings books, and I realise that I missed out on that experience as a child .”

Having had concerns about her sons’ development, the boys’ mum Laura, was excited to see the impact that Touch to See picture books have had .

“The Living Paintings books have given us the confidence to know that the boys will be able to develop and have the same opportunities as their sighted peers .”

Becoming a parent is full of firsts – first steps, first giggles, first smiles. But Alice never saw her daughter Mia light up at the sight of her face – because Mia is blind .

Diagnosed with Optic Nerve Hypoplasia and Nystagmus both of which cause vision impairment, Mia, now three, has only light perception . Alice explains that Mia’s world changed when the family discovered the Living Paintings books .

“Mia loved listening to stories, and these Touch to See books transformed everything .” Her first Living Paintings book adaptation, ‘Fun with Spot’, had her giggling as she traced the pictures . ‘Superworm’ became an instant favourite . “Before the book, she couldn’t imagine what a worm looked like . Touching it helped her understand, and the story came alive .”

Living Paintings books have become Mia’s world . She eagerly awaits each delivery, feeling for the familiar box . “She may not see pictures, but she sees with fingers,” says Alice . “Thanks to you, her imagination has no limits .”

I feel massively honoured and excited that the team at Living Paintings are adapting Grandad’s Camper for blind and visually impaired children. Every child deserves access to books and an environment which encourages and enables reading.

Harry Woodgate, author of Grandad’s Camper

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Our year's headlines

Our year's headlines

It’s been a busy and exciting year as we’ve faced the challenge of rapidly growing our library of accessible books and box sets to meet an unprecedented growth in beneficiaries and demand.

20% growth in child beneficiaries over the last year

We are delighted to report continued growth in the number of blind and visually impaired children that our free library service is reaching. In the last 12 months we have experienced 20% growth in their number . We are now bringing the visual world to life for 5,300 children and young people living with little or no sight, an increase of 120% over the last two years .

730 new accessible books and box-sets on our shelves

To meet growing demand, we produced and added yet more books onto our shelves . They included multiple copies of nine new picture book adaptations and three new, non-fiction box sets, as well as extra copies of old favourites .

‘Len’s Repair Shop’ has worked harder than ever

Our Touch to See books are being borrowed more and more as demand increases and, in order to maintain quality, we repaired 900 copies (6% of all returned loans) in the last year . This year we lost our much loved volunteer, Len . He had been with us for more than 25 years contributing to all things production and we felt it appropriate to name this now significant area of work in his memory .

30,000 library transactions completed in the last 12 months

Our library has been incredibly busy this year sending our special books to children across the UK who are blind . Loans have increased by 61% over the last two years and delivered this major milestone in the number of transactions our volunteer-led library completed .

I just wanted to thank you for the books; they've really opened up the dialogue between my son and his preschool friends. They have learnt so much about the little adjustments my son needs to be able to access the same things as them.

Parent

15,000 volunteer hours given

We couldn’t do what we do without the kind support of our volunteers in the production room, library and in the community. It is thanks to them that we have been able to achieve all that we have in the past year .

17,500 lives touched by our service

Our books are designed to be shared with friends, family and in the classroom . Therefore our work also positively impacts the lives of the sighted family members, friends or peers of each of our beneficiaries.

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Our impact

Our impact

We exist to improve the life chances of children who are blind or visually impaired by making the visual world of pictures, books and learning accessible to them.

Every year we conduct a survey with the families, schools and professionals we work with to gain an understanding of how our work benefits the children in their lives . The results speak for

themselves; our ‘Touch to See’ books have a far-reaching impact that helps blind children fully take their place in our visual world .

Building confidence

88% say our Touch to See books and box sets have improved confidence their overall confidence.

Supporting young learners

90% say Living Paintings has increased their engagement and interest in learning and school work

Promoting positive wellbeing

78% have improved social skills and find it easier to make new friends .

Raising young readers

82% of our beneficiaries have increased confidence and interest in reading .

Shared experiences

87% benefited from an increase in shared experiences with sighted family, friends and peers .

Trying new things

69% say our service empowers their children to try new physical and social activities .

I love using Living Paintings. As the only QTVI in the authority, and with no technician or support, your service is essential.

Qualified Teacher of the Vision Impaired (QTVI)

Routine reading

75% of children and young people use our books daily or weekly .

2024 Living Paintings Impact Report

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Martha’s story

Martha’s story

When one child is blind and doesn't enjoy new experiences it's a huge challenge to enjoy the big moments in life as a family.

Martha was born with a genetic condition that has resulted in holes in her heart and has left her non-verbal and partially sighted . She’s known as a SWAN child which means her syndrome hasn’t been identified and doesn’t have a name . Martha also has strong food aversions and sensory issues .

Mum Verity , found out about Martha’s sight problems when she was around 4 months old at an appointment for her older son, Ted . “Ted is blind in one eye and so we had a consultation for him when Martha was just a baby,” she said . “The consultant noticed that Martha’s eyes were shaking and got us referred to check it out as health visitors and midwives hadn’t noticed .”

“Even though Ted is blind in one eye, he isn’t considered partially sighted so it was only when Martha got diagnosed that we learned about Living Paintings . We weren’t sure how much Martha could see as a baby, but we loved reading to her, and it was nice to have an activity suited to her and that was great for Ted too . She couldn’t grab onto anything but we encouraged her to touch the raised pictures from a young age. It was a lovely routine to get into before bed – the Peppa Pig books were always her favourite .”

Martha’s sensory issues mean that she has an extreme aversion to touch but through her love of the Living Paintings books, Verity has been able to encourage this more and more . “The books have really opened her world, not just to enjoy the stories but to slowly introduce her to touch and to build her up to bigger sensory experiences .”

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Martha’s story

“Martha really doesn’t like to touch things and hates anything on her fingers but because she loves Living Paintings books so much, I’ve been able to encourage her to feel the raised pictures over time and this has led to her touching other things with her whole hand. It’s because the books are so colourful and relaxing for her that she’s been open to it. If we hadn’t used these books and created such a lovely environment with them, I don’t think she would have tried .”

For children with sensory issues, Christmas can be tricky with so many new sights, smells and sounds to contend with but Verity is confident that Martha will not only cope with the atmosphere but will really enjoy it thanks to the work they’ve put in with Living Paintings books .

As well as being a lovely activity for Martha and preparing her for life experiences, the books are also important to Ted . “Teddy is obsessed with his little sister so likes to jump in when we’re reading the books . The books helped his language development when he was younger and sometimes, he likes to read to his sister .”

“Although she’s a lot better in new environments, it’s still important for her to be able to learn about Christmas through the books to fully prepare her so she enjoys every moment . Living Paintings books always help her to do this . Reading these books together as a family has become a special Christmas tradition for us. I can’t wait to cuddle up together with one of the books on Christmas Eve .”

“Reading and experiencing these books together has allowed us to prepare Martha for the upcoming season . We talk about emotions and explain to her what’s going to happen .”

“Last year, we read the Living Paintings book, Is that you Father Christmas? by Siobhan Dodds. In the book, Martha could feel a picture of Father Christmas which really helped her when we took her to Santa’s Grotto .”

"When she met Father Christmas, she wasn’t fearful and was happy to touch his cloak and beard because she knew what to expect because of the book. It made the experience so magical for us all .”

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Highlights

Highlights

Giants in children’s publishing

We were delighted to add The Smartest Giant in Town to our library of accessible books for blind and visually impaired children. It’s the fourteenth adaptation by family-favourites Julia Donaldson and Axel Scheffler to join the Living Paintings catalogue .

The characters, stories and settings created by Julia Donaldson hold a special place in the hearts of so many families and children . Her rhyming tales bring joy and laughter to many . The Gruffalo is always at the top of our loans table!

The illustrations by superstar Axel Scheffler have been lovingly handcrafted into tactile versions by an army of volunteers in our Newbury production studio .

The audio description is read by our longstanding supporter and friend Jim Carter who starred in Downton Abbey .

It was a wonderful testament to our work when Axel Scheffler gave it the seal of approval .

I am a big supporter of Living Paintings and seeing my work adapted so blind and visually impaired children can experience it through touch and sound is very special indeed. In the visual world of children’s books, it really is the combination of words and pictures that gives the full experience, so I’m always thrilled when Living Paintings bring my illustrations to life for blind children. When I illustrate, I do so for all children. Working with Living Paintings makes that truly possible.

Making noise!

There is a vital need for Living Paintings to continuously make noise and raise its profile. There are approximately 26,000 blind and visually impaired children in the UK . Currently we work with around 19% of these children which is certainly to be celebrated . As Living Paintings is the only charity doing what we do, we desperately need to reach many more children to unlock the magic of reading and storytelling and increase their life chances through raising their confidence and access to books.

This year we appeared on national and even international television. In February 2025 we appeared on the Kelly Clarkson Show in the USA which was a great opportunity to spread our message a little further afield. In April 2025, Scarlett, another young Living Paintings beneficiary, brilliantly presented our story on CBBC’s Newsround . This was a lovely piece about how our books are made with Scarlett visiting our office in Newbury to hear all about the production process .

This has been such a great service for us. Our student has loved using the books over a number of years.

Teacher

Axel Scheffler

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Highlights

A special donation in memory of an extraordinary child

Five year-old Jude loved books, and his favourite was ‘Under the Love Umbrella’, a lovely celebration of the joy and comfort of unconditional love that is always with us, wherever we roam . The colourful illustrations and sweet message brought him lots of happiness . Tragically Jude succumbed to the cancer he so bravely fought. In loving memory, his parents raised the money for Living Paintings to create an accessible adaptation, enabling blind and visually impaired children to share in the book that had brought so much joy to their son .

Funtastic fundraising

We are excited to report that despite a very challenging year for fundraising as the cost of living crisis and economic uncertainty persisted and the environment became more competitive; Living Paintings saw a 12% increase in income . This is very much thanks to our loyal trust and foundation grantmakers and also thanks to many wonderful people who had fun with fundraising for us . They played golf, climbed mountains and ran marathons .

Royal recognition for Living Paintings CEO

Camilla Oldland joined the charity when it was founded in 1989 and became its Chief Executive the following year . Under her leadership, the charity has become a trusted name within the accessibility field. In June 2024 Camilla was honoured with an Officer of the Order of the British Empire (OBE) in the King’s Birthday Honours list, in recognition of her decades of work supporting blind and visually impaired communities in the UK. It is a muchdeserved recognition for Camilla’s ongoing dedication to the cause .

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Jenni and Bella’s story

Jenni and Bella’s story

Hearing a little girl read aloud to her class for the first time must be a very special experience for any teaching assistant. But when that girl is blind, it can be magical.

Jenni Coles , a primary school teaching assistant, never thought that Bella would be able to read by herself – let alone to her whole class – but it’s now a regular occurrence and is all thanks to Living Paintings .

“In a year, she’s gone from sitting, listening to the stories with me, to reading herself, to now reading in front of her whole class. Once she gets it, she gets it .” says Jenni .

“We do star time in class every day at 3pm where someone will read aloud, and Bella loves it when it’s her turn . She sits on the reading chair and says, “are you ready?” and reads her favourite story . She could never have done that without Living Paintings books .”

Jenni has worked as a teaching assistant for 10 years now in her local school, retraining from her bank job after becoming a mother. “I trained as a class TA in order to work around my kids and have worked with many children with SEN and special needs,” says Jenni .

“Bella was the first child I’ve worked with who is blind, so that was daunting at first.”

Bella, who was born with no lenses and is classed as completely blind, had hoped to start her schooling journey in a setting designed for children who are visually impaired . Unfortunately, this facility closed before Bella started school . Many mainstream settings were consulted but felt unable to meet Bella’s needs until eventually one local mainstream school worked with the local authority to support Bella with the move to school .

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Jenni and Bella’s story

The success of which still continues to be an area of pride for the school and those working closely with Bella . “When I found out that I would be working with Bella in year one, I was concerned. I was sad that the appropriate setting for her had closed, and worried that I wouldn’t be able to work with her as much as she needed. I didn’t want to let her down” says Jenni .

“However, my colleague and I went on a braille course, and we started working with the Living Paintings books immediately . We set up a good routine of reading and discovering the stories through the raised pictures as well as teaching Bella braille . Everyone is amazed at how far she’s come .”

Bella is now aged seven and in year two . She is a very popular girl with many friends and one of her favourite things to do is to read .

“The Living Paintings books are so inclusive for her so she doesn’t feel different from the other children . We even keep them in the reading corner with all the other books and Bella knows how to get there on her own by mapping the classroom . She knows exactly where to find her special books,” says Jenni .

“The books are also hugely beneficial for her learning as I can order specific books to support a class project such as her last project on great women – Living Paintings sent us some books including one on Florence Nightingale, so she was learning along with the class and keeping up with the curriculum .”

She writes lovely stories about her family and they are so heart-warming to hear. We really owe so much of her learning and her imagination to the service.

Jenni

“Bella has some favourite books and is especially fascinated with anything to do with animals . Her favourites now are Peppa Pig books, but she loves anything animal related. It’s lovely to see her recognise a dog or cat from the raised pictures as she’s never seen one before . Her only understanding of some of these animals is from the Living Paintings books and I’m still amazed when she feels a tail or ear on a picture and immediately says ‘oh, that’s a dog’ .”

“She gets so excited when new books arrive, it’s like a present. Bella’s friends love to explore and read them with her too.”

As well as being hugely instrumental in helping Bella to read, the Living Paintings books have also opened new worlds for her and sparked Bella’s imagination . “Bella is so creative and loves writing her own stories – I believe this is mainly down to her being able to read and enjoy so many stories thanks to the Living Paintings service .”

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Focus on publishing

Focus on publishing

730 new Touch to See books and box sets produced, bringing the world of literacy and learning to life for children who are blind and visually impaired.

Nine new accessible picture book titles

Picture books are so much more than stories, they are vital tools to help children understand the world around them . The pictures and words work together to create magical worlds, inspire confidence, share values and help children make sense of their emotions . With the support of the children’s publishing industry, we exist so that children who are blind or visually impaired are included in this joy and learning . We’re delighted to share some of the new books and themes we introduced this year .

Fairy tale classics

We’re helping blind and visually impaired children enjoy the vibrant stories and colourful characters from traditional tales, starting with these fabulous new accessible adaptations .

The Three Little Pigs by Mara Alperin and Ag Jatkowska read by CBBEBIES favourite Jennie Dale. Parent said: “Scarlett really liked the descriptions (in The Three Little Pigs) and she also laughed quite a lot. The book made her feel really happy .”

Jack and the Beanstalk by Mara Alperin and Mark Chambers read by storyteller Mama G .

Helpful heroes

We’re helping blind and visually impaired children learn about friendships and showing how sharing, and helping people (and animals), brings joy and happiness with these fun-filled accessible adaptations.

ABC with Percy the Park Keeper by Nick Butterworth read by actor Toby Jones .

The Smartest Giant in Town by Julia Donaldson and Axel Scheffler and read by actor Jim Carter .

Supertato by Paul Linnet and Sue Hendra and read by children’s author, BBC broadcaster, Greg James .

“There’s a history of visual impairments in my family, so I know how vital and life enhancing projects like Living Paintings can be. Everyone should be able to enjoy stories and it was a pleasure to be involved and learn all about this brilliant charity and the joy they bring to people.”

Greg James, radio presenter and author

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Focus on publishing

Our non-fiction catalogue has again grown

Our non-fiction books and box sets, featuring tactile images accompanied by engaging audio guides, help children who are blind or visually impaired explore interests, try new activities and feel fully included in learning at school .

Having fun with STEM

Our science, technology and engineering books and box sets are helping children experience new subjects and inspiring our future STEM professionals .

Oscar and the Bird by Geoff Waring, a book about electricity and how circuits work, with the help of CBEEBIES science presenter Ayo Sokale .

Magnificent Machines Go Green featuring exciting and extraordinary sustainable forms of transport, presented by Grace Webb from CBEEBIES ‘Amazing Machines‘.

Josie, Tobias’ mum, said “Tobias felt that he learned a lot from the commentary. He said that the tracks (and tactile pictures) explained everything about sustainable transport in good detail, and that he loved learning about Volocopters, as he had never heard of them before . He said it feels like the future!”

Festive treasury

We’re helping blind and visually impaired children experience the wonder of Christmas with these festive favourites, packed with fun storytelling and evocative feely pictures from the North Pole to the top of the Christmas tree!

The Night Before Christmas by Kes Gray and Claire Powell and read by comedy actor Ardal O’Hanlon

Mog's Christmas by Judith Kerr and read by her daughter, Tacy Kneale

The Polar Express by Chris Van Allsburg and read by American actress, Aria Mia Loberti who is blind .

Our science, technology and engineering books and box sets are helping children experience new subjects and inspiring our future STEM professionals .

What you do is incredible! Everyone should be able to experience adventures on pages of brilliant books and you are making that happen! Amazing, keep it up!

Parent

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Focus on publishing

Sports stars

With these fabulous new box sets, we’re helping blind and visually impaired children get into sport by sharing inspiring stories from a team of famous sports stars, as they share their journey from childhood dreams to medal winning goals .

Sport heroes tactile pictures and audio guides featuring Sir Lewis Hamilton F1 racing driver, Libby Clegg MBE blind athlete, Paralympic swimmer Ellie Simmonds OBE, Marcus Rashford football player and charity worker .

Winter snow sports tactile pictures and audio guides featuring Paralympic Alpine Skier Menna Fitzpatrick MBE, Sports presenters Clare Balding and JJ Chalmers, Paralympian alpine skier Mike Brace, and Olympian skier Chemmy Alcott .

The tactile pictures are fantastic! I loved learning on the audio guide about Libby Clegg. That’s going to be me one day! Jacob, 11 years LD

Being visually impaired myself, it was a pleasure to share my story and help other blind and visually impaired young people feel included as we approach the 2024 Paris Games. I truly hope that by being involved I can help these children to know that anything is possible – and perhaps inspire the next generation of Paralympic superstars.

Libby Clegg, athlete

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Focus on publishing

----- Start of picture text -----
Aria Mia Loberti
4 Bikiy |
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Toby Jones
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25 books and box sets in production

Our production team remain incredibly busy . As demand continues to grow at a pace it is vital that we keep up the momentum; releasing new titles across a range of interests and topics:

Coming in 2025-26

Touch to See books:

• The Night Before Christmas

• What the ladybird heard at Christmas

• Two Little Dickie Birds

• Margaret's Unicorn

• 123 Percy Park Keeper

• The Elves and the Shoemaker

----- Start of picture text -----
A special thank you to our readers
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Each of our Touch to See books and box sets comes with a very special audio description that guides fi ngers over the raised pictures. It’s a vital part of our service; bringing everything to life as the children build a picture in their mind .

A huge thank you must go to our friends who have given up their time to record these for us . They receive no payment – just the knowledge that they are bringing the visual world to life for blind children and young people . This year they have included:

Tacy Kneale, Jim Carter, Ardal O’Hanlon, Toby Jones, Aria Mia Loberti, Jennie Dale, Mama G, Greg James, Ayo Sokale, Sir Lewis Hamilton, Ellie Simmonds OBE, Libby Clegg MBE, Gaby Logan, Ben Cajee, Grace Webb, Menna Fitzpatrick MBE.

• Little People, Big Dreams The Scarecrow's Wedding

• Tidy

• Coming Home

• Jonty Gentoo

• Pussy Cat, Pussy Cat

• And Tango Makes Three

• Harry and the Dinosaurs go to School

• The Sun Thief

• Books Aren't for Eating

Touch to See box sets:

• Hugless Douglas and the Nature Walk

• Rainforests Key stage 2

• Doctor Who Part Three

These will be joined by more titles as they are funded .

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Amelia’s story

Amelia’s story

Four-year-old Amelia has already faced more challenges than many adults. She needed eye surgery at seven weeks old and major heart surgery at five months.

Amelia has a severe vision impairment, is wheelchair dependent and at high risk of respiratory complications . Yet despite everything, she’s a lively, chatty little girl who loves stories and can fully enjoy them thanks to Living Paintings .

Amelia’s mum, Sian , says family life can be ‘chaos’, filled with hospital appointments, paperwork, and equipment . That’s why discovering Living Paintings has been so special . “I first heard about Living Paintings through Amelia’s QTVI [Qualified Teacher of Vision Impairment],” explains Sian . “She sent me an email about the service, and I thought I’d give it a try . The application process was so quick and easy . Compared to many services we’ve had to apply for, which can be overwhelming, this was completely straightforward. It made such a difference .”

Amelia has a severe sight impairment and can only see bright lights and colours so being able to feel the raised, brightly coloured pictures of the Living Paintings book unlocks a whole new world for her . For Sian, the books are about more than reading, they create moments of inclusion and joy .

“We’ve always read to Amelia from a young age, but with Living Paintings it feels different . She loves feeling the raised pictures, and we add props like teddies or foil blankets to bring the stories alive . Her dad is the best at doing the funny voices and she snuggles in with him at story time. ‘We’re Going on a Bear Hunt’ is her absolute favourite .

She’s never been able to go to a library, and until Living Paintings we’ve only had audio books . With her special chair with a tray, I bring her down to ground level and we listen together . She always enjoys them . We read them more than once and she likes to have the repetition. It’s created special moments with both my children and really brings the stories to life .”

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Amelia’s story

Sharing the books has also brought Amelia closer to her younger brother, Atlas . “They both get so excited when the box of books arrives,” says Sian . “It’s become a family activity. Living Paintings has made reading inclusive for Amelia, and that’s something we’ll always be grateful for.”

Above all, the simplicity of the service has been key . “When so much of our life is taken up with medical forms and appointments, it means the world to have something that is so easy to access, renew, and return,” says Sian . “Living Paintings has brought us precious quality time together and there’s nothing else like it .”

19

The financial picture

The financial picture

1st June 2024 – 31st May 2025

The income

Where we spent it

[Campaigns and Community ] £39,539[Raising funds ] £99,901

[Trusts and Foundations ] £607,265[Governance ] £12,896

[Regular Givers ] £10,805[Service for children and young people £416,816]

[Legacy ] £21,010[Services for adults ] £73,556

[Other ] £6,445 Total £603,169 Total £685,064

About our surplus

We are grateful to have seen our investment in fundraising over the last 12 months yield an increase in income despite the extremely uncertain and difficult economic climate. The resulting surplus has enabled us to stabilise the financial security of our charity by increasing our General Reserve position and raising the level of our Strategic Growth Fund to support further investment in the coming year .

Our fund balances 31st May 2025

Unrestricted Fund: General ‘Cash’ Reserve £278,106 Designated Fund: Property for Charity’s Use £229,717 Unrestricted Fund: Designated Strategic Growth Fund £94,933 Restricted Fund: Special Projects Yet to be Completed £201,704 Endowment: The Edward Gostling Fund £140,000 Total £944,460

20

The future

The future

Our sustained growth this year means we have a challenge to keep building the number of beneficiaries we reach, whilst continuing to increase our impact and develop new services for a younger audience.

Delivering new services

We completed a comprehensive research project exploring the need for and ways in which we can develop our services for infants and toddlers who are blind or visually impaired . The results highlight an often-devastating lack of provision beyond medical intervention for this age group and that there is a clearly defined need for support . As a result the board has committed to significantly expanding our services for 0-4 year olds and this will be a focus for the coming year .

Our secondary focus is on how we remain relevant for beneficiaries who are out growing our picture books at the age of circa eight years . We would like to make more use of our non-fiction box sets and also understand how we can introduce more chapter books to this age group to continue building on their love of reading and learning .

Reaching more children

Every child who is diagnosed as blind or visually impaired must have the opportunity to experience the visual world from as young an age as possible, and this is where Living Paintings is the expert .

We know that we reach approximately 19% of registered blind and visually impaired children in the UK which is a great achievement . We also know that our service has an incredibly positive impact on young lives . Therefore, in line with our ten year growth strategy we aim to significantly increase the number of young beneficiaries of our library so that we can impact the learning, confidence and joy of more children across the UK .

Engaging our community

We are most well-known for our adaptations of illustrated children’s books . Living Paintings is so much more. Our non-fiction Touch to See box sets help blind and visually impaired children and young people explore new interests and fully participate in learning at school . We aim to diversify borrowing within our membership to increase loans of these box sets by creating more excitement and highlighting the benefits via our communications plans.

Meeting demand

As more beneficiaries join our library the demand on our services naturally increases . There is a need to create more copies of the ‘most loaned’ books to help manage this increase in demand . There are also many new book titles we would like to offer that deliver unique stories that could help children who are blind or visually impaired feel included and engaged in their communities or with their studies .

21

Conclusion from the CEO

Conclusion from the CEO

It’s been another fast paced and successful year for Living Paintings, full of achievements both large and small.

We have continued to make great strides in pursuing the targets set for the five Strategic pillars of our ten-year growth strategy .

We have engaged with our community; made more picture books, topics and learning accessible; been there for carers; made noise about our work and kept our organisation fit. We have built on our strong foundations and look forward to another exciting, challenging year of consolidation and growth .

The beneficiary stories we have shared with you in this report, and the many, many others we constantly receive, are our driving force . Knowing the depth of the impact of our work on the lives and futures of blind and visually impaired children, means we simply have to do more . :

As always, we can only do that with the help and support of our Living Paintings family of generous donors, volunteers and supporters . Please stay with us and thank you .

On a personal note, I have been leading this inspiring volunteer-led charity for a long time now; I’m in my 36th year in the job! Not long ago, to my enormous surprise, I found myself standing in the doorway to the Grand Reception Room at Windsor Castle, waiting to enter and receive my O .B .E . for services to visual impairment from HRH The Prince of Wales . That wait offered a short moment for reflection. Tears came to my eyes (ever perfect they had a box of tissues to hand!) . Whizzing through my mind were those compelling stories of the way Living Paintings has changed so very many children’s lives for the better and memories of all the amazing, generous people who had, do and will continue to make it possible. The honour I was about to hold it on their behalf .receive was for all of them – I just ,

Living paintings books made a big difference in my daughter’s life, she really enjoyed them and they are part of many special memories I have for her. Thank you for all you do and the joy you bring. Parent »

Camilla Oldland OBE Chief Executive

22

Objectives and activities

Objectives and activities

The objectives of The Living Paintings Trust, known as Living Paintings, as stated in the Memorandum and Articles of Association can be summarised as being to relieve and educate blind and visually impaired people.

In setting our objectives and planning our activities the Trustees have given careful consideration to the Charity Commission’s general guidance on public benefi t.

What we do

Living Paintings purpose is to improve the life chances of blind and visually impaired people by making the visual world of pictures, books and learning accessible to them .

We design, create and publish unique Touch to See books that make visual images accessible to blind and visually impaired people . From adapting the world’s best-loved children’s picture books into accessible, tactile-audio formats to creating learning and interest-led resource box sets that can be explored through touch and sound – there is something for all ages in our library’s collection .

Why we do it

Evidence from the UK Vision Strategy confi rms that sight loss is a major concern in the UK with signifi cant health, social and economic impacts . The RNIB state that there are two million people who are blind or visually impaired and this number is set to grow to 2 .7 million by 2030 .

80% of the information we receive reaches us through our eyes . The impact of this on the lives of blind and visually impaired people cannot be underestimated . Our work aims to help blind and visually impaired people overcome some of the challenges they face as a result of their condition .

Each item in our library comes with an educational, entertaining and atmospheric audio description that describes all the illustrations in great detail and also guides fi ngers over the raised images of the topics being explored, helping our benefi ciaries build up a picture in their mind. It is this combination of touch and sound that enables our benefi ciaries to feel included in the visual world that colours and informs our lives .

Everything we produce is available to borrow for FREE from our postal library . No matter where our benefi ciaries live or what their fi nancial situation is, we can be there for the families, schools and children who need us .

23

Living with sight loss

Living with sight loss

Children and young people

Adults

28,670

children aged 0-17 with vision impairment and additional disabilities in the UK .[1]

85%

of blind and visually impaired people in the UK are over 65 .[9]

70%

are in mainstream education where they may be the only child with a visual impairment .[2]

60%

live at the “extremes of poverty” .[9]

46%

of visually impaired teenagers are often unhappy, downhearted or tearful .[3]

20%

are housebound .[9]

86%

of students with visual impairments often experience feelings of being over-looked and not belonging at school .[5]

Only 1 in 4

blind and vision impaired people have paid employment .[10]

69%

of 4,800 mainstream teachers surveyed said they lacked confidence in their skills to support children with visual impairment .[6]

76%

of blind and visually impaired say they feel lonely some or all of the time .[10]

1 in 3

local authorities have cut their spending on services for visually impaired children .[7]

3x

more likely to experience depression .[ 9]

43%

experience bullying due to their condition .[8]

115,000

blind and partially sighted adults across the UK have been left without the crucial support they are entitled to after being diagnosed with sight loss .[11]

1 RNIB Sight Loss Data Tool 2023.

2 RNIB What We Know About Education 2023

3 RNIB 2022 Vision Impairment at age 14: Secondary analysis of the Millennium Cohort 4 NATSIP

5 VI Hub

6 Guide Dogs UK Internal report, 2022

7 RNIB FOI 2022

8 Guide Dogs UK

9 RNIB

10 Fight for Sight

11 RNIB Press Release 2023

24

Our vision, purpose and values

Our vision, purpose and values

Our vision

Children living with sight loss will have the visual world at their fingertips.

Our purpose

To improve the life chances of blind and visually impaired children by making the visual world of pictures, books and learning accessible to them .

Our strategic mission

To reach 10,000 blind children and young people and deliver 10 x the benefit by 2032.

Our values

Every decision we make is guided by these principles:

Beneficiaries first

We consider the impact of decisions on our beneficiary group before anything else .

Inclusivity

We will ensure that our ‘products’ and output are fully accessible across all departments .

Creativity

We challenge the norm and mirror the creativity of our source material in everything we do .

Respect

More than just kindness to our beneficiary and stakeholder groups, we welcome new ideas, are respectful of our source material and truly understand the challenges of those we work with .

25

Our work plan

Our work plan

Focus for the next three years

The following is by no means an exhaustive list of our activities for the next three years . However, it provides an insight into some of the work we will be doing under our five strategic pillars as part of our 10 year growth strategy .

Engaging our community

• 1 .1 Deliver Library Community Communications Plan to include all contacts with our library beneficiaries, aiming to retain, engage and delight our membership .

• 1 .2 Research, monitor and evaluate on an annual basis to ensure our services are relevant, achieving the impact we seek and new developments are beneficiary led. This will help us to create more compelling stories that inspire support .

• 1 .3 Establish a network of forums to support the development of new projects to include experts such as paediatric opthalmologists and those with lived experience .

• ,

• 1 .4 Ensure a smooth delivery and returns system for Touch to See resources currently provided through Royal Mail’s Articles for the Blind .

Making picture books accessible

• 2 .1 Publish at least 10 new Touch to See titles per annum each with multiple copies and including subjects aligned with our researched themes such as mental health and well-being, engagement with STEM subjects, support of history teaching as Key Stage 2 and diversity .

• 2 .2 Research, develop and pilot ‘Foundation Years’ Touch to See resources and support services for parents . This project, aimed at blind and partially children from babyhood to the age of four years, will support physical, cognitive and emotional development in infancy; a time when the foundations for future learning capacity are established and in turn the foundations for lifelong success are created . This is a ‘gateway’ project which enables blind and visually impaired children to gain the optimum level of benefit from the Living Paintings Touch to See as they grow up .

Living Paintings is a fantastic service for blind and partially sighted people – and I am sure it brings a lot of joy to many. Thank you for the work you do – it is very much appreciated.

Person working with adults

• 2 .3 Research, develop and deliver a service that has stronger relevance to children aged eight and over ; a critical transition point in their literacy development .

• 2 .4 Develop and deliver Touch to See Starter Packs for different age groups .

26

Our work plan

Being there for carers

• 3 .1 Research and establish a Wider Support Services Plan . This will encompass essential support to parents. It will tie into our new ‘Foundation Years’ programme, online peer-topeer support communities for teachers and carers and signpost complementary resources and services .

Making noise

• 4 .1 Create and implement a communications plan that ensures that Living Paintings is visible, audible, discoverable and approachable to include:

• becoming a social media powerhouse – 'the most wholesome place on the internet’;

• building a relevant, accessible and recognisable brand identity ;

• becoming the trusted partner and CSR solution within the children’s publishing industry ;

• developing an Ambassador programme .

Keeping fit

• 5 .1 Continue to collect and disseminate compelling stories of the impact of our work to inspire support from all stakeholders from donors to volunteers .

• 5 .2 Continue to develop an organisation that inspires, supports and develops the people we need to deliver our growth strategy over the next three years and beyond .

• Trustees – Undertake a skills review and recruit new board members if needed .

• Staff – Pursue a ‘People’ plan that reviews remuneration, retention, development and where necessary recruitment .

• Volunteers and Pro Bono – Provide an excellent experience, including a sense of community and appreciation with regular communications, and events . Recruit and train as needed .

• 5 .3 Pursue a plan for our hard infrastructure (i .e . premises, equipment and IT) in order to support our growth trajectory whilst ensuring that Living Paintings is a safe place to work . The installation of in-house brailling facility is an example .

• 5 .4 Develop our eco-system of friends, partners and collaborators by instilling high levels of trust and authenticity through all contact made by different departments from publishers through to individual donors . |

• 5 .5 Pursue a comprehensive fundraising strategy that provides the income needed to undertake year on year growth and maintain and grow our financial stability according to our reserves policy .

• 5 .6 Explore and trial methods for scaling up of Touch to See book production and the use of emerging technology such as virtual reality to deliver the multisensory experience .

27

Structure, governance and management

Structure, governance and management

Governing document

The Living Paintings Trust was formed in 1988 . The Trust was registered with the Charity Commission on 15th February 1989 as a charity . On 31st December 1995, the activities of the charity were transferred to The Living Paintings Trust, a company not having a share capital, limited by guarantee . The company is entitled to those exemptions from UK taxation which are available in law to charities . The Memorandum and Articles of Association govern the Trust .

Administration

The administrative and secretarial duties of the charity are undertaken in our office which is also the company’s registered office. Details of professional advisors are detailed on page 35 .

Trustees

The Trustees are also the Directors of the company . Under the requirements of the Memorandum and Articles of Association at the Annual General Meeting, one-third of the Trustees retire from office, being those who have been longest in office since their last appointment or re-appointment .

Recruitment of Trustees

The responsibility for appointing new members of the Board rests with the existing Trustees . The aim is to ensure that the membership of the Board includes people with varied skills and interests such as business strategy, the charity sector, education, finance, art history, human resources, law and visual impairment and any other expertise which is needed . The Trustees use their extensive networks to source possible new appointees and their details are brought to and discussed at a Trustees’ Meeting . A potential Trustee

is then invited to meet with the Chief Executive and talk with two existing Trustees prior to a formal proposal for an appointment being made .

Induction and training of Trustees

The induction and training process is twofold . Arrangements are made to familiarise a new Trustee with their responsibilities using the Charity Commission’s guide ‘The Essential Trustee’ and the Living Paintings Memorandum and Articles of Association . New Trustees are extensively briefed about Living Paintings’ current position, finances, plans for the future and their expected role . They will meet with members of the staff team and some of the volunteers .

The Trustees have overall responsibility for the work of the charity . They agree on policies, strategies and financial budgets . There is a Management Committee which includes a minimum of two Trustees, currently the Chair and Treasurer, and appropriate staff members which has the responsibility for reviewing in detail the work of the charity . Progress on policy, strategy, financial budgets and operational issues is reported through the Management Committee to the Trustees on a quarterly and annual basis . The day-today operation of the Trust’s affairs is delegated to the Chief Executive .

28

Structure, governance and management

Our Trustees

Cat Bailey (Chair) Creative Director and Founding Partner, PinkGreen .

Shalin Malde (Treasurer) Qualified Chartered Accountant . Senior Commercial & P&L Manager for New Business Development at Vodafone . Previously at BT & PwC .

Jane Burgess Chartered FCIPD, senior HR leader, currently Chief Human Resources Officer at Zero. Previously at Sturrock & Robson Group, Bovill and Shell plc .

Jane Findlay (resigned November 2024) Head of Programme and Engagement, Dulwich Picture Gallery . Previously at The British Museum, Kenwood House and the National Maritime Museum

David Hall Parent to visually impaired child . Global Client Director, Wiz . Previously Microsoft, Tanium, Veritas Technologies and Symantec .

Tina Jetha Customer Account Lead, UK, Ireland and IoT at Vodafone. Business and technology transformation specialist . Formerly Amdocs and Accenture Management Consulting .

Louis Moorhouse Visually Impaired. Freelance audio editor, music producer and mix engineer .

Ellie Radburn (appointed January 2025) Senior Knowledge Lawyer at Linklaters, specialising in trust and charity law .

Claire Short Qualified solicitor. Senior Government Lawyer currently with Department for Energy Security and Net Zero as Deputy Director, Nuclear and Fusion Legal Team .

Our volunteers

We could not operate without the support of our dedicated volunteers. It is their contribution of time in helping us produce our books and running our library service that enables Living Paintings to achieve so much .

Our volunteer numbers for the financial year 24/25 amounted to 180 compared with 13 paid members of staff .

Due to the financial complexities of accounting for their invaluable contribution, we do not reflect this in our accounts . However, we estimate that their donations of time and expertise are worth approximately £200,000 across the financial year. They truly are one of our most valuable assets and we are so incredibly appreciative of the support we receive from them .

Our volunteer team undertake a range of tasks, many of which require specialist skills and training . Their work touches every stage of the production process including writing, researching, recording and editing our audio guides, manufacturing our Touch to See books, facilitating the day-to-day running of our free library service, supporting us with our administration and so much more .

As every activity Living Paintings undertakes includes the help of volunteers, they require substantial professional support from our staff team . We go to great lengths to recruit, train and support them . We create a warm, welcoming and sociable environment so that they can appreciate the immense gratitude we feel .

29

Structure, governance and management

Our patrons

We are delighted to continue to benefit from the support of our wonderful patrons:

Dame Jaqueline Wilson is a best-selling children’s author having sold over 10 million books worldwide . She was Children’s Laureate from 2005-2007 .

“I think the very best way to get children to develop a love of books is to share stories with them when they are little . But how can you interest a child in a picture book when they are blind?

The answer is through the touch and sound publications that the awardwinning Living Paintings offer in their free national library – children can feel what The Gruffalo, Winnie the Pooh, and Thomas the Tank Engine are like . And because of their unique design, the books can be shared – everyone enjoying the story together .”

Christopher Lloyd CVO was Surveyor of The Queens Pictures from 1988 -2005 and is a former Curator at Christ Church Oxford and the Ashmolean Museum Oxford .

Sir Timothy Sainsbury , a former MP, Minister of State and former Trustee of the V&A Museum and, alongside Lady Sainsbury (bold and orange), has been a keen supporter of Living Paintings for over 25 years .

Key management personnel remuneration

The Trustees consider the Board of Trustees and the Senior Management Team as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day-to-day basis . All Trustees give of their time freely and no Trustee remuneration was paid in the year . Details of Trustee expenses and related party transactions are disclosed in notes 8 and 19 to the accounts .

The pay of the Senior Management Team is reviewed annually and is normally increased in accordance with average earnings . The remuneration is reviewed to ensure that it is fair and not out of line with similar roles .

30

Financial review

Financial review

The financial results of the year can be found on pages 42 to 45.

We achieved an income of £685,064 . Expenditure was £603,169 . This gave an operating surplus of £81,895 for the financial year.

Income

Our total income this year was £685,064 .

Received into the unrestricted fund

• Donations and legacies totalling £350,134 . These donations support our core work of operating a free postal library service for a rapidly growing number of blind and visually impaired people across the UK .

• Investment income of £6,445 .

Received into the restricted fund

• Donations and gifts of £328,485 . This income relates to the production of new Touch to See books and specific areas of our library service .

We are reliant on donations from grant making trusts to fund the majority of our work and we are grateful to all those who supported us again or for the first time this year. Some of these are listed on pages 33 to 34 .

The Trustees have set a budget for 2025/26 which predicts no year-onyear increase in income in light of the success of 2024/2025 and the uncertain economic climate .

Only a small amount of our income is promised in advance, therefore the support of our donors is absolutely crucial to continue our services that have never been more in demand .

Expenditure

This year we spent £603,169 . Budgeted expenditure for 2025/26 is increasing by approximately 10% reflecting higher operating costs resulting from the continuing growth in beneficiaries and inflationary factors.

Surplus

We are grateful to have seen our investment in fundraising over the last 12 months yield an increase in income despite the extremely uncertain and difficult economic climate. The resulting surplus of £81,895 has enabled us to balance the operating deficit that we experienced in the previous financial year of £46,604 before endowment income, whilst increasing our General Reserve position and raising the level of our Strategic Growth Fund to support further investment in the coming year .

Our fund balances at 31st May 2025

• 1 . The Unrestricted Fund of £602,756 comprises:

• £278,106 as a General Cash Reserve .

• £229,717 property and fixed assets for use by the charity – Designated Fund .

• £94,933 Strategic Growth – Designated Fund

For clarity, the Trustees agreed to designate the capital element within the Unrestricted Fund comprising property and fixed assets for use by the charity.

Thanks to the Living Paintings books, she has improved communication and social skills. She is able to discuss the story with other people and this has increased her confidence.

Teacher

31

Financial review

• 2 . The Restricted Fund of £201,704 is for funded projects that are not yet completed . This mainly relates to the production of Touch to See books, where the production period is between 9 to 18 months and specifi c areas of our library service

• 3 . The Edward Gostling Endowment Fund: £140,000 . This Endowment fund represents assets which must be held permanently by the Company . Income arising on the endowment fund can be used in accordance with the objects of the Company and is included as unrestricted income .

Reserves policy

Our Reserves Policy seeks to ensure that a General Cash Reserve is maintained at a level that enables The Living Paintings Trust to manage fi nancial risk and short-term income volatility, allowing us to sustain optimal levels of service, while ensuring that fi nancial commitments can be met as they fall due . The Trustees have therefore defi ned the Reserves Policy such that a General Cash Reserve of Unrestricted Funds excluding Designated Funds which include fi xed assets and any secured loans thereon be maintained equivalent to 6 months unrestricted expenditure against the budget for the upcoming fi nancial year. The management team proactively work to maintain reserves above the policy threshold through routinely monitoring the funding position combined with the on-going forecasting of anticipated income and expenditure . Should funds fall below defi ned trigger points, there are clear procedures in place to assess the situation and determine whether mitigating actions are required to recover the position . According to this policy the target General Cash Reserve was £274,626 and we are pleased to report that this has been achieved with a closing General Reserve of £278,106 .

Risk management

The Trustees have continued to refi ne our risk management strategy . This has been included in a review of the major risks which the charity may encounter and the establishment and enhancement of procedures to mitigate these identifi ed risks. The principle risk remains that of maintaining current levels of income . Steps that have been taken to mitigate this risk include the establishment and maintenance of a comprehensive database involving weekly, monthly and annual reporting and which drives our fundraising efforts alongside the creation of a fundraising strategy which includes the development of new income streams . Trustees are satisfi ed that adequate systems are in place to mitigate any exposure to our major risks, in particular fi nancial and operational risks .

Sustainability

At Living Paintings, we believe that our responsibility extends beyond our core mission . We are dedicated to operating in a way that minimises our environmental footprint and contributes to a more sustainable future . This year, we’ve carried out research to identify the impacts of our daily operations .

In the coming year we aim to analyse the data to create a baseline and subsequently set our objectives for future improvements .

32

Our donors – trusts and foundations

Our donors – trusts and foundations

The following is a list of some of the trusts and foundations who generously supported our work over the year.

Garfield Weston Foundation BBC Children in Need The Headley Trust The Underwood Trust National Lottery – Community Fund (Awards for All Wales) The Patrick and Helena Frost Foundation The Primary Club Fight for Sight The Verina Black Charitable Trust John Coates Charitable Trust The Dorothy Hay-Bolton Charitable Trust The Childwick Trust Simon Gibson Charitable Trust The Valentine Charitable Trust The Robert McAlpine Foundation Heathrow Community Trust The Shoe Zone Trust The Cotswold Primrose Charitable Trust The Shears Foundation U K H Foundation Access Foundation Kent Community Foundation The Batchworth Trust The Chalk Cliff Trust The Pilkington Charities Fund The Hugh Fraser Foundation Community Foundation for Surrey The 29th May 1961 Charitable Trust The Ernest Kleinwort Charitable Trust The D'Oyly Carte Charitable Trust The Wixamtree Trust Sandra Charitable Trust The Fence Club Trust Fund Hays Travel Foundation The Mackintosh Foundation Delamere Dairy Foundation Barnwood Trust Rees Jeffreys Road Fund The Gerald Palmer Eling Trust Help for Health The Sir Jules Thorn Charitable Trust The Benham Charitable Settlement

The Walwyn Chapman Charitable Trust Miss W E Lawrence Charitable Trust The Mary Homfray Charitable Trust The Strangward Trust The Shanly Foundation The Portishead Nautical Trust The Patrick Trust Rubin Foundation Charitable Trust Cheshire Community Foundation Dalgleish Trust The Toy Trust Community Foundation North East The Essex Youth Trust P F Charitable Trust The Boshier-Hinton Foundation The Colefax Charitable Trust The Frank Litchfield Charitable Trust The Joseph and Annie Cattle Trust Nadezda Foundation The London School Trust Somerset Community Foundation The William Kenneth Hutchings Charitable Trust Winifred Eileen Kemp Trust The William Leech Charity FSJ Trust The Jenour Foundation The Summerfield Charitable Trust The Sylvia and Colin Shepherd Charitable Trust The Belstead Ganzoni Charitable Settlement The Gale Family Charity Trust John Horniman's Children's Trust The Walker Trust The Hemby Trust Harford Charitable Trust Sir John Priestman Charity Trust The Charles S French Charitable Trust The George A Moore Foundation The Paul Bassham Charitable Trust The Macfarlane Walker Trust The John and Susan Bowers Fund Marsh Charitable Trust

33

Our donors – trusts and foundations

A W Gale Charitable Trust

The Alchemy Foundation Himat Tanna Charitable Trust The Cruden Foundation The William Webster Charitable Trust The Norman Family Charitable Trust The Walter Guinness Charitable Trust The Jessie Spencer Trust The Mugdock Children's Trust The Gibbons Family Trust John James Bristol Foundation The Purey Cust Trust CIO Baron Davenport's Charity The Prince Philip Trust Fund The G J W Turner Trust Cumbria Community Foundation RHS Spurgin Charitable Trust Eleanor Rathbone Charitable Trust The Lennox Hannay Charitable Trust The Charles and Elsie Sykes Trust The Mickel Fund Mrs E Y Imrie's Charitable Trust Chapman Charitable Trust Andover Freemasons Helen Robertson Charitable Trust Suffolk Community Foundation The Lady Forester Trust The Maud Elkington Charitable Trust The N Smith Charitable Settlement Duchy of Lancaster Benevolent Fund The Pharsalia Charitable Trust The Joseph Hopkins and Henry James Sayer Charities Imperial Polythene Products Ltd (Imperial Community Impact Fund) The Ormonde Charitable Trust The Rothley Trust Eddie Dinshaw Foundation The J Reginald Corah Foundation Fund The Dumbreck Charity Douglas Arter Foundation The Bartle Family Charitable Trust The Stanton Ballard Charitable Trust The Joseph Rank Benevolent Fund

Gloucestershire Disability Fund Bartlett Taylor Charitable Trust The Wilmcote Charitrust The Alan Jenkin Stokes Memorial Trust The Gilbert & Eileen Edgar Foundation The W .E .D Charitable Trust The James T Howat Charitable Trust The Lillie Johnson Charitable Trust The Proven Family Trust Norman Collinson Charitable Trust The Florence Turner Trust The Fitton Trust The James Wise Charitable Trust J A Floyd Charitable Trust Marshgate Charitable Settlement Anthony and Deirdre Montagu Charitable Trust The Ardwick Trust Blakemore Foundation The Michael and Anna Wix Charitable Trust

Additionally, we received highly valued gifts made by friends to Living Paintings and beneficiaries. We also received invaluable support-in-kind from organisations, companies and individuals .

To each and every person, group, business, foundation and grant making trust who have supported us this year we extend the greatest of thanks. It is their generosity that makes our work possible .

Camilla Oldland, OBE Chief Executive

The Trustees’ report was approved by the Board of Trustees on 8th December 2025 .

____ Cidh__ Snaideo Cat Bailey – Chair Trustee Trustee

___ ___ Cat Bailey – Chair Shalin Malde – Treasurer Trustee Trustee

34

Reference and administrative details

Reference and administrative details of the company, its Trustees and advisers for the period ended 31 May 2025

Trustees

• Cat Bailey, Chair

Chief executive

Camilla Oldland OBE

• Shalin Malde, Treasurer

• Jane Burgess

• Jane Findlay (resigned November 2024)

• David Hall

• Tina Jetha

• Louis Moorhouse

• Ellie Radburn (appointed 26th January 2025)

• Claire Short

Cat Bailey and Shalin Malde are members of the Management Committee

Trustees appointed

Ellie Radburn (appointed January 2025)

Trustees resigned

Jane Findlay (resigned November 2024)

Company details

Independent auditor

Gravita Audit Oxford LLP

Bankers

Bank of Scotland The Edinburgh Royal Mile Branch, 300 Lawnmarket, Edinburgh, EH1 2PH

National Westminster Bank 30 Market Place, Newbury, Berkshire, RG14 5AG

Newbury Building Society 105b Northbrook Street, Newbury, Berkshire, RG14 1AA

CAF Bank Limited PO Box 289, West Malling, Kent, ME19 4TA

Solicitors

Pitmans, 47 Castle Street, Reading, Berkshire, RG1 7SR

Company registered number: 03095963 Charity registered number: 1049103

Registered offi ce

Queen Isabelle House, Unit 8, Kingsclere Park, Kingsclere, Newbury, Berkshire, RG20 4SW

Company secretary

Camilla Oldland OBE

35

36

Financial accounts

The Living Paintings Trust Trustees Report and Financial statements to 31st May 2025

STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MAY 2025

The Trustees, who are also the directors of The Living Paintings Trust 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 Company 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; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company 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 Company 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 Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities .

37

Financial accounts

The Living Paintings Trust Trustees Report and Financial statements to 31st May 2025

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE LIVING PAINTINGS TRUST

Opinion

We have audited the financial statements of The Living Paintings Trust (the ‘Company’) for the year ended 31 May 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

• give a true and fair view of the state of the charitable company’s affairs as at 31 May 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006 .

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law . Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report . We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements . We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue .

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report .

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon . The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon . Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated . If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact .

We have nothing to report in this regard .

38

Financial accounts

The Living Paintings Trust Trustees Report and Financial statements to 31st May 2025

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE LIVING PAINTINGS TRUST

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

• the information given in the Trustees’ report for the financial year for which the financial statements are prepared, which includes the directors’ report prepared for the purposes of company law, is consistent with the financial statements; and

• the directors’ report included within the Trustees’ report has been prepared in accordance with applicable legal requirements .

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the Trustees’ report .

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• the financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of trustees’ remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit; or

• the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the Trustees’ report and from the requirement to prepare a strategic report .

Responsibilities of Trustees

As explained more fully in the statement of Trustees’ responsibilities, the Trustees, who are also the directors of the Company for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so .

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion . Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists . Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud . The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below .

39

Financial accounts

The Living Paintings Trust Trustees Report and Financial statements to 31st May 2025

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE LIVING PAINTINGS TRUST

• the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities, and skills to identify or recognise non-compliance with applicable laws and regulations;

• we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our knowledge and experience;

• we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Company.

We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence where applicable; and

• identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit .

We assessed the susceptibility of the charitable company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

• making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected, and alleged fraud; and

• considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations .

To address the risk of fraud through management bias and override of controls, we:

• performed analytical procedures to identify any unusual or unexpected relationships;

• tested journal entries to identify unusual transactions;

• assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

• investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

• agreeing financial statement disclosures to underlying supporting documentation;

• reading the minutes of meetings of those charged with governance;

• enquiring of management as to actual and potential litigation and claims;

• reviewing relevant correspondence .

There are inherent limitations in our audit procedures described above . The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of noncompliance . Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the Trustees and other management and the inspection of regulatory and legal correspondence, if any .

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion .

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

40

Financial accounts

The Living Paintings Trust Trustees Report and Financial statements to 31st May 2025

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE LIVING PAINTINGS TRUST

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 . Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed .

Katherine Wilkes (Senior Statutory Auditor) ____ CM Mees

11th December 2025

For and on behalf of Gravita Audit Oxford LLP, Statutory Auditor Chartered Accountants

First Floor, Park Central 40-41 Park End Street Oxford OX1 1JD

41

Statement of Financial Activities

The Living Paintings Trust Trustees Report and Financial statements to 31st May 2025

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MAY 2025

----- Start of picture text -----
Notes Unrestricted Restricted Endowment Total Unrestricted Restricted Endowment Total
funds funds funds funds funds funds
2025 2025 2025 2025 2024 2024 2024 2024
£ £ £ £ £ £ £ £
Income from:
Donations and 3 350,134 328,485 - 678,619 227,367 243,970 140,000 611,337
legacies
Investments 4 6,445 - - 6,445 4,378 - - 4,378
Total income and 356,579 328,485 - 685,064 231,745 243,970 140,000 615,715
endowments
Expenditure on:
Raising funds 5 99,901 - - 99,901 64,482 - - 64,482
Charitable 6 193,360 309,908 - 503,268 194,608 263,229 - 457,837
activities
- -
Total expenditure 293,261 309,908 603,169 259,090 263,229 522,319
Net income and 63,318 18,577 - 81,895 (27,345) (19,259) 140,000 93,396
movement in
funds
Reconciliation 539,438 183,127 140,000 862,565 566,783 202,386 - 769,169
of funds: Fund
balances at 1
June 2024
Fund balances at 602,756 201,704 140,000 944,460 539,438 183,127 140,000 862,565
31 May 2025
----- End of picture text -----

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities .

42

Balance Sheet

The Living Paintings Trust Trustees Report and Financial statements to 31st May 2025

BALANCE SHEET AT 31 MAY 2025

BALANCE SHEET AT 31 MAY 2025
		2025		2024
	Notes	£	£	£	£
Fixed assets
Tangible assets	11		229,717		239,937
Current assets
Debtors	12	86,326		63,651
Cash at bank and in hand		655,972		587,795
		742,298		651,446
Creditors: amounts falling due within one year	13	(27,555)		(28,818)
Net current assets			714,743		622,628
Total assets less current liabilities			944,460		862,565
Capital funds
The Edward Gostling Endowment Fund	15		140,000	140,000	-
Income funds
Restricted funds	16		201,704		183,127
Unrestricted funds	17
General Cash Reserve		278,106		234,569
Designated Fixed Asset Fund		229,717		239,937
Designated Strategic Growth Fund		94,933		64,932
Total unrestricted funds			602,756		539,438
			944,460		862,565

The financial statements were approved by the Trustees on 8th December 2025 .

Cth ___ -atwtetw ____ Cat Bailey – Chair Shalin Malde – Treasurer Trustee Trustee

Company registration number 03095963

43

Cash Flow Statement

The Living Paintings Trust Trustees Report and Financial statements to 31st May 2025

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MAY 2025

----- Start of picture text -----
2025 2024
Notes £ £ £ £
Cash flows from operating activities
Cash generated from operations 21 70,331 130,869
Investing activities
Purchase of tangible fixed assets (8,870) (6,601)
Proceeds from disposal of tangible fixed assets 271 -
Investment income received 6,445 4,378
Net cash used in investing activities (2,154) (2,223)
- -
Net cash generated from financing activities
Net increase in cash and cash equivalents 68,177 128,646
Cash and cash equivalents at beginning of year 587,795 459,149
Cash and cash equivalents at end of year 655,972 587,795
----- End of picture text -----

44

Notes to Financial Accounts

The Living Paintings Trust Trustees Report and Financial statements to 31st May 2025

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025

1 Accounting policies

1 Accounting policies Charity information

The Living Paintings Trust is a private company limited by guarantee incorporated in England and Wales . The liability of the members of the company is limited by their guarantee to contribute £1 each towards the liabilities of the company in event of liquidation .

The registered office is Queen Isabelle House, Unit 8, Kingsclere Park, Kingsclere, Newbury, Berkshire, RG20 4SW .

1 .1 Accounting convention

The financial statements have been prepared in accordance with 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 Company is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the Company. 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 Company has adequate resources to continue in operational existence for the foreseeable future . Trustees have considered the current levels of cash and unrestricted reserves . The Trustees also note that the charity owns its freehold property, which is unmortgaged . Based on this review the Trustees believe that the financial statements have been prepared appropriately on the going concern basis.

1 .3 Charitable funds

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes .

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes . The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses and allocated to the appropriate fund.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Company .

1 .4 Income

Income is recognised when the Company 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 .

45

Notes to the Financial Accounts

The Living Paintings Trust Trustees Report and Financial statements to 31st May 2025

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

1 Accounting policies (Continued)

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipts and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Company has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate . Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Company, can be reliably measured .

Donated services or facilities are recognised when the Company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the Company of the item is probable and that economic benefits can be measured reliably.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the Company which is the amount the Company would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt .

The recognition of income from grants is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet . Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred revenue . Where entitlement occurs before income is received, the income is accrued .

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation .

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 .

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities . Governance costs are those incurred in connection with administration of the Company and compliance with constitutional and statutory requirements .

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds .

Charitable activities and Governance costs are costs incurred on the Company’s educational operations, including support costs and costs relating to the governance of the Company apportioned to charitable activities .

Library materials are only of benefit to blind and partially sighted people and therefore are of very low commercial value . As such they are expensed in the year rather than being treated as a capital asset for ongoing use in the charity .

All expenditure is inclusive of irrecoverable VAT .

46

The Living Paintings Trust Trustees Report and Financial statements to 31st May 2025

Notes to the Financial Accounts

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

1 Accounting policies (Continued)

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:

Long term leasehold property 50 years – straight line basis Office equipment 5–10 years – straight line basis Computer equipment 3 years – straight line basis

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 Company 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 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 .

1 .9 Financial instruments

The Company 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 Company’s balance sheet when the Company 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

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.

47

Notes to the Financial Accounts

The Living Paintings Trust Trustees Report and Financial statements to 31st May 2025

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

1 Accounting policies (Continued)

Basic financial liabilities

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.

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 .

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company’s contractual obligations expire or are discharged or cancelled .

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received .

Termination benefits are recognised immediately as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the Company’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 .

Tangible fixed assets

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate . The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors . Residual value assessments consider issues such as the remaining life of the asset and projected disposal values .

48

The Living Paintings Trust Trustees Report and Financial statements to 31st May 2025

Notes to the Financial Accounts

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

3 Income from donations and legacies

----- Start of picture text -----
Unrestricted Restricted Endowment Total Unrestricted Restricted Endowment Total
funds funds funds funds funds funds
2025 2025 2025 2025 2024 2024 2024 2024
£ £ £ £ £ £ £ £
-
Donations and gifts 329,124 328,485 657,609 222,367 243,970 140,000 606,337
- - - -
Legacies 21,010 21,010 5,000 5,000
-
350,134 328,485 678,619 227,367 243,970 140,000 611,337
----- End of picture text -----

4 Income from investments

----- Start of picture text -----
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Interest receivable 6,445 4,378
----- End of picture text -----

5 Raising funds

----- Start of picture text -----
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Other costs 60,667 13,812
Staff costs 39,234 50,670
Raising funds 99,901 64,482
----- End of picture text -----

49

Notes to the Financial Accounts

The Living Paintings Trust Trustees Report and Financial statements to 31st May 2025

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

6 Expenditure on charitable activities

----- Start of picture text -----
Charitable Charitable
activities activities
2025 2024
£ £
Direct costs
Staff costs 335,766 282,782
Depreciation and impairment 18,819 19,595
Direct charitable expenditure 135,787 141,860
490,372 444,237
Share of support and governance costs (see note 7)
Governance 12,896 13,600
503,268 457,837
Analysis by fund
Unrestricted funds 193,360 194,608
Restricted funds 309,908 263,229
503,268 457,837
----- End of picture text -----

7 Support costs allocated to activities

----- Start of picture text -----
Charitable Charitable
activities activities
2025 2024
£ £
Governance 12,896 13,600
Governance costs comprise: 2024 2023
£ £
Audit fees 12,109 10,980
Legal and professional 787 2,620
12,896 13,600
----- End of picture text -----

8 Trustees

During the year four trustees donated a total of £115 to the charity for specific purposes (2024: £nil).

During the year no trustees were reimbursed for expenses incurred (2024: £94) .

During the year one trustee, Louis Moorhouse, received remuneration of £2,240 (2024: £0) for freelance sound editing work . This was in accordance with the charity's governing document and approved by the Board . The trustee did not participate in any decision relating to their remuneration . No other trustees received remuneration .

50

The Living Paintings Trust Trustees Report and Financial statements to 31st May 2025

Notes to the Financial Accounts

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

9 Employees

The average monthly number of employees during the year was:

----- Start of picture text -----
2025 2024
Number Number
Production 4 4
Fundraising and publicity 3 3
Administration and management 2 2
Library 4 3
Total 13 12
Employment costs 2025 2024
£ £
Wages and salaries 341,628 312,831
Social security costs 24,831 13,799
Other pension costs 8,541 6,822
375,000 333,452
----- End of picture text -----

The number of employees whose annual remuneration was more than £60,000 is as follows:

----- Start of picture text -----
2025 2024
Number Number
In the band £70,001 – £80,000 - 1
In the band £80,001 – £90,000 1 -
----- End of picture text -----

Remuneration of key management personnel

The key management personnel of the charity comprise Trustees and the Senior Management Team . The total employee benefits of the key management personnel were £81,969 which includes employer NI and pension (2024: £78,169).

10 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 .

51

Notes to the Financial Accounts

The Living Paintings Trust Trustees Report and Financial statements to 31st May 2025

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

11 Tangible fixed assets

----- Start of picture text -----
Long term Office Computer Total
leasehold equipment equipment
property
£ £ £ £
Cost
At 1 June 2024 362,357 79,796 76,851 519,004
Additions - 269 8,601 8,870
- -
Disposals (778) (778)
At 31 May 2025 362,357 79,287 85,452 527,096
Depreciation and impairment
At 1 June 2024 147,313 62,695 69,059 279,067
Depreciation charged in the year 7,262 4,432 7,125 18,819
- -
Eliminated in respect of disposals (507) (507)
At 31 May 2025 154,575 66,620 76,184 297,379
Carrying amount
At 31 May 2025 207,782 12,667 9,268 229,717
At 31 May 2024 215,044 17,101 7,792 239,937
----- End of picture text -----

The leasehold premises comprise 2 leases each of 999 years calculated from 29th September 1986 each at a rent of £100 per annum .

12 Debtors

----- Start of picture text -----
Amounts falling due within one year: 2025 2024
£ £
Trade debtors 704 709
Accrued income 79,317 56,692
Prepayments 6,305 6,250
86,326 63,651
----- End of picture text -----

13 Creditors: amounts falling due within one year

----- Start of picture text -----
2025 2024
£ £
Trade creditors 8,048 8,233
Other creditors 7,747 9,605
Accruals 11,760 10,980
27,555 28,818
----- End of picture text -----

52

The Living Paintings Trust Trustees Report and Financial statements to 31st May 2025

Notes to the Financial Accounts

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

14 Retirement benefit schemes

----- Start of picture text -----
2025 2024
£ £
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes 8,541 6,822
----- End of picture text -----

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund . The pension cost represents contributions payable by the company to the fund and amounted to £8,541 (2024: £6,822) . At the year end, pension contributions of £1,448 (2024: £2,643) were outstanding .

15 Endowment funds

Endowment funds represent assets which must be held permanently by the Company. Income arising on the endowment funds can be used in accordance with the objects of the Company and is included as unrestricted income . Any capital gains or losses arising on the assets form part of the fund .

----- Start of picture text -----
At 1 June Incoming At 31 May
2024 resources 2025
£ £ £
Expendable endowments
-
Edward Gostling Endowment Fund 140,000 140,000
Previous year: At 1 June Incoming At 31 May
2023 resources 2024
£ £ £
Expendable endowments
-
Edward Gostling Endowment Fund 140,000 140,000
----- End of picture text -----

16 Restricted funds

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.

----- Start of picture text -----
Movement in funds Movement in funds
Balance at 1 Incoming Resources Balance Incoming Resources Balance
June 2023 resources expended at 1 June resources expended at 31 May
2024 2025
£ £ £ £ £ £ £
Funded projects 161,908 93,920 (151,948) 103,880 106,370 (110,385) 99,865
awaiting completion
Library fund 40,478 150,050 (111,281) 79,247 222,115 (199,523) 101,839
202,386 243,970 (263,229) 183,127 328,485 (309,908) 201,704
----- End of picture text -----

53

Notes to the Financial Accounts

The Living Paintings Trust Trustees Report and Financial statements to 31st May 2025

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

Funded projects awaiting completion consist of numerous funds of varying sizes covering specific projects in line with the charity’s objectives for instance the creation and manufacture of new Touch to See book titles .

The Library Fund comprises multiple donations made specifically towards the costs of providing the Library Service free of charge to blind and visually impaired beneficiaries.

Management accounting procedures quarterly track the movement in each individual restricted fund . They provide the necessary information to ensure that the appropriate balance is held in each account in order to complete the projects and thus meet the restrictions imposed by the donors .

17 Unrestricted funds

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Movement in funds Movement in funds
Balance Incoming Resources Transfers Balance Incoming Resources Transfers Balance
at 1 June resources expended at 1 June resources expended at 31 May
2023 2024 2025
£ £ £ £ £ £ £ £ £
- -
Designated 252,931 (19,595) 6,601 239,937 (18,819) 8,599 229,717
fixed asset
fund
- - - -
Strategic 90,000 (25,067) 64,933 30,000 94,933
growth fund
General funds 223,852 231,745 (214,428) (6,601) 234,568 356,579 (274,442) (38,599) 278,106
- -
566,783 231,745 (259,090) 539,438 356,579 (293,261) 602,756
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18 Analysis of net assets between funds

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Unrestricted Restricted Endowment Total
funds funds funds
2025 2025 2025 2025
£ £ £ £
At 31 May 2025:
- -
Tangible assets 229,717 229,717
Current assets/(liabilities) 373,039 201,704 140,000 714,743
602,756 201,704 140,000 944,460
Unrestricted Restricted Endowment Total
funds funds funds
2024 2024 2024 2024
£ £ £ £
At 31 May 2024 :
- -
Tangible assets 239,937 239,937
Current assets/(liabilities) 299,501 183,127 140,000 622,628
539,438 183,127 140,000 862,565
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The Living Paintings Trust Trustees Report and Financial statements to 31st May 2025

Notes to the Financial Accounts

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

19 Related party transactions

During the year one trustee’s parents donated £120 to the charity for general purposes (2024: £120) .

During the year, the charity paid £5,000 to the spouse of a Trustee, David Hall, for contracted services to conduct research into the lives of blind and visually impaired children aged 0-4 years . The trustee concerned did not participate in any decision relating to this engagement . The transaction was conducted on normal commercial terms and in accordance with the charity conflict of interest policy. The balance outstanding at the year end was £0 .

20 Controlling party

There is no overall controlling party .

21 Cash generated from operations

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2025 2024
£ £
Surplus for the year 81,895 93,396
Adjustments for:
Investment income recognised in statement of financial activities (6,445) (4,378)
Depreciation and impairment of tangible fixed assets 18,819 19,595
Movements in working capital:
Decrease/(increase) in debtors (22,675) 25,346
(Decrease) in creditors (1,263) (3,090)
Cash generated from operations 70,331 130,869
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22 Analysis of changes in net funds

The Company had no debt during the year .

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www .livingpaintings .org

/LivingPaintings @living-paintings @living-paintings livingpaintingscharity

Queen Isabelle House Unit 8 Kingsclere Park Kingsclere Newbury Berkshire RG20 4SW

Company registered number: 03095963 Charity registered number: 1049103

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