OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-08-31-accounts

Annual Report 2022/23

Including the Trustees' Report and Annual Accounts for the year ending 31st August 2023

www.infocus-charity.org.uk

InFocus Charity Annual Report 2022/23

Contents

Introduction

This year’s Annual Report celebrates the incredible achievements of young people with vision impairment and complex needs.

Introduction 3 Thank you... 4 Highlights 6 Report of the Trustees 12 Achievements in 2022/23 17 Objectives for 2023/24 22 Finance and Risk 24 Principle risks and uncertainties 28 Structure, governance and management 30 Reference and administrative details 32 Statement of Trustees’ Responsibilities 33 Independent Auditors Report 34 Accounts and Financial Statements 38

Since its foundation in the 19th century the charity has supported countless children and young adults to become more independent, find their voice and take their place in society. We’ve been based here in Exeter for much of our time but have also looked beyond our city and county to support people from across the UK.

We are about to enter the final year of our current Strategic Plan. Since 2019 we have been working tirelessly with our families, funders, supporters, staff and volunteers to give the very best to the young people who need our unique combination of expertise, experience and resources.

In the last twelve months we have accelerated our redevelopment of the site and its facilities for young people. We have worked to meet the challenges in the recruitment crisis across the care sector by looking for new ways to support and develop the next generation of specialist staff.

Pamela Marsden Chair of Trustees

We have been innovative with our use of resources and honest in our reviews of how we work. We have worked to constantly improve the services we deliver whilst actively looking for more ways to reach more families.

Most importantly we continue to be fiercely ambitious for the young people we support, working together to make sure they can live fulfilling adult lives.

Jane Bell Chief Executive Officer

2

3

InFocus Charity Annual Report 2022/23

Thank you...

InFocus Charity would like to thank:

Our Ambassadors Michael Caines MBE DL and Judi Spiers.

Jacqui Taylor of Otter Garden Centres for her continued generosity and financial support to our West Hill Outdoor Learning Centre.

Our volunteers across charity retail (our e-commerce project, together with shops in Honiton, Sidmouth, Ottery St Mary, Exeter Heavitree, Exeter Sidwell Street and Exeter Cowick Street), our horticulture projects at the West Hill Outdoor Learning Centre and Topsham Road, and everyone else who volunteers in so many different ways.

All our partner work placement employers. Our amazing and dedicated staff team.

The parents, carers and families of our young people.

Our Trustees and advisory members who give their time and expertise so generously.

Former pupils and users of our services, their families, Members of the West of England School Association (WESA), and all who are supporting us as part of the InFocus Community.

Volunteer and fundraising groups from: Thomson Reuters, Axewoods, Dealerweb, Launch and CAP Technologies. All our donors and supporters.

During the past year we have been lucky to have met with so many generous people who give money or time to support the work of InFocus.

Former pupil, Glenda Benger MBE, completed an amazing 2,280 mile virtual challenge walking the famous Route 66. She raised over £1,300 for the charity, and completed the distance at InFocus HQ with family, friends, staff and current College students.

Local businesses have taken part in all sorts of volunteering and fundraising projects, helping to transform our specialist facilities through their time, talents and donations.

Our charity shops have continued to thrive. During the year we marked the 15th anniversary of volunteer Gareth Richards' time with InFocus. Gareth (pictured, right) also helps with events, takes on sponsorship challenges and hosts an annual skittles evening – helping to raise £1,000s over the years.

Our volunteers are invaluable! With their support, we’re able to run our charity shops, maintain our 13-acre site in Exeter and 10-acre Outdoor Learning Centre at West Hill, help shape the charity as Trustees, and so much more.

We recently welcomed a new team of volunteers to a new charity shop in Ottery St Mary, joining staff members Heidi and Helen in the shop (pictured, left).

This year we have also been touched by people who have remembered InFocus in their will. These gifts - large and small - have helped give young adults with complex disability and vision impairment greater independence in a world where barriers still exist. They have helped people to make the most of their limited vision. Perhaps most importantly, they have helped to give a voice to people whose voices are often not heard in society.

"InFocus supporters helped us to provide the best equipment, facilities and support for our young people. Thank you!"

4

5

Highlights:

Delivering impact

During the year the young adults from all our services thrived, and made progress towards their goals and aspirations.

The importance of "voice and choice"

Accessible sailing with Exe Sailing Club

We think that everyone should get to follow their passions and do things that they really enjoy.

The young adults we support face huge barriers to learning, living and taking an active, independent place in their communities.

Lots of opportunities might typically be off-limits to young people with complex needs and vision impairment. At InFocus we work with partners like Exe Sailing Club to create amazing experiences that our young people can enjoy.

One of the most important things that we can do is to help our young people to have more of a say of what happens in their lives.

We believe that they should have the same chances as their peers to try new things and maybe find a lifelong passion for a hobby or sport.

Some people come to InFocus unable to understand or express simple choices like yes or no. Throughout the year we have helped all the people we support to find their voice, and be more involved in decision-making.

This has helped them to take more control over what happens in their day. This might choosing an activity, deciding what to eat and drink, or being able to tell someone that they need to use the bathroom.

It is also critical for accessing learning (whether that's formal learning in College, or the ongoing learning journey away from education).

InFocus Charity Annual Report 2022/23

Celebrating Pride: InFocus community unites for equality and acceptance

With a commitment to support and advocate for the LGBTQ+ community, InFocus organised a festive event that showcased our young people's dedication to equality, acceptance, and was a celebration of diversity.

From colourful decorations to heartfelt testimonials, the festivities were a testament to our young people's collective spirit and commitment to creating a more inclusive world.

During the festivities, one remarkable InFocus student fearlessly shared their heartfelt experience as a member of the LGBTQ+ community. Their words echoed the sentiments of many within the community:

“I love being part of the LGBTQ+ community. I love being who I am and finding other people like me. I’m very open about my identity and I’d like to be able to stay this way. While the community is wonderful, it can often feel like the rest of the world is against us. Which is why it is so important that people do support us and help make the world a better place for everyone. This is what we want. A world where we can be accepted for who we are and not judged for being different.”

Sharing our stories: 10 years of Princesshay

Young adults from Jigsaw raised awareness in the community

Local shopping centre Princesshay invited local charities - including InFocus - to mark the Exeter retail hub's 10th anniversary. Young people from our Jigsaw service enjoyed exploring the theme of "Reuse and Recycle" over several weeks, before travelling into Exeter to decorate the tree.

The project continued to raise awareness of InFocus in the city centre (the charity - under its previous name - was Princesshay's first Charity of the Year). There was also an opportunity for the young people at Jigsaw to travel into the community and chat to members of the public during the morning of tree decorating.

InFocus Tree decorator Megan - who attends Jigsaw - said:

“I loved putting the decorations on the Christmas tree! It was fun, and I think it looks great.”

Building a community

During the year our young people chose to take part in events and projects across their local community.

There were also opportunities to come together with other young adults with complex needs and vision impairment from across our InFocus "family".

InFocus College students move abroad as part of a month of many "firsts"

Developing skills for life

In a remarkable display of determination and resilience, six intrepid students from InFocus College recently embarked on a transformative three-week journey to a banana plantation in Gran Canaria. The learning adventure was part of InFocus College’s activities month. These students, all with vision impairment and complex needs, courageously stepped out of their comfort zones to enrich their learning and develop the essential skills necessary for their transition into adulthood.

The students’ experience in Gran Canaria went beyond mere sightseeing and cultural immersion. The true magic happened when they fully embraced day-to-day life on the plantation. They shouldered responsibilities such as cooking, cleaning, and even shopping at the local supermarket, all while interacting with the locals—supported by their Spanish lessons.

Matt Clarke, the Team Leader, marvelled at the remarkable bonds forged among the students during the three-week adventure. He said, “It’s been incredible watching the students bond over the past three weeks. Being away from home for an extended period, immersed in a different culture, has truly brought the group together. The genuine care and support they’ve shown each other are a testament to their characters and their ability to overcome challenges.”

Student Briony, reflected on her time in Gran Canaria and said:

“I have overcome my fear of eating with a group of people in public. I went out of my comfort zone and tried 15 new foods such as clams and olives. I’ve become a lot more independent by cleaning and cooking for myself. I also faced my fear of going into the sea by taking part in kayaking, going on a speed boat and swimming in the sea”.

The opportunity for the students to embark on this life-changing trip to Gran Canaria was made possible through the collaboration with Eat That Frog, an innovative further education organisation operating a specialist college across various sites in Devon and Cornwall

The impact of this trip extends far beyond the three weeks spent in Gran Canaria.

The experience serves as a powerful reminder that, given the right support and opportunities, people with vision impairment and complex needs can overcome obstacles, seize remarkable experiences, and thrive in their journey toward adulthood.

Getting our and about around Devon

At InFocus we continue to support our young people to become independent travellers in their communities.

For some it might be practising routes into Exeter on the bus to do their shopping. Other students have spent time becoming more confident at travelling by train so they can access work or volunteering after they leave our college.

Specialist ROVIs (Rehabilitation Officer Visual Impairment) develop individual training programmes as part of our integrated curriculum (in College) and skills development (across InFocus).

InFocus Charity Annual Report 2022/23

Report of the Trustees for the year ending 31st August 2023

Introduction

The board of Trustees of InFocus Charity present their annual report and audited accounts for the year ended 31st August 2023 and confirm that they comply with the requirements of the Companies Act 2006, Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) – (Charities SORP (FRS 102).

The Trustees confirm that they have complied with the duty imposed on them by s17(5) of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit, including the guidance ‘Public benefit: running a charity (PB2)’.

InFocus Charity is a registered charity (registered number 1058937) and company limited by guarantee.

Objectives and Activities

Introduction

The objects of the Charity are:

The relief of persons with a vision impairment and complex needs (whether this is a physical, other sensory or cognitive impairment) by:

InFocus Charity supports the education, care, health and independence of persons with a vision impairment or other sensory impairment. Income is generated from:

Vision, mission and values

Our vision is a world where young people with visual impairment and additional needs are able to take their place in society, where they are valued for their contribution and their rights and independence are supported.

Our mission is to empower children, young people and adults with visual impairment and additional needs to live fulfilling young and adult lives through the delivery of a range of education, care, and support services.

To succeed in our mission we will:

Our Operational Values as a staff team are:

The Community Values (things important to our young people) are:

12

13

InFocus Charity Annual Report 2022/23

Activities

In 2022/23 the charity supported:

40 students in education who attend our college

Young people in education attended InFocus College for 38 week, day and residential placements (full or part time). We continued to offer split placements (working in conjunction with other providers) and Supported Internships (combining education, employability skills training and work experience as part of a stepping-stone towards paid employment).

15 young people who thrived in our supported living accommodation

Residents in supported living accommodation are encouraged to be as independent as possible, with just the right amount of support from specialist staff.

2020 young people living in St David’s House residential care

St David’s House is set in beautiful grounds at the edge of Exeter. Young adults live across three small lodges that have been adapted to meet their needs. They have access to the local community (and further afield), and can also use some of the shared facilities provided by InFocus.

Everything we do is made by possible by a dedicated team of specialist staff that includes:

"We’re now supporting even more young people to learn, become more independent, and use their voice.”

17 people at Jigsaw, a community service for young adults

Jigsaw is a place where young adults living in the community can build a peergroup and enjoy a range of activities. Specialist staff meet a wide range of complex care needs and support the people accessing the service to develop their own friendships.

14

15

InFocus Charity Annual Report 2022/23

Achievements and Performance

Strategic Plan

2022/23 is the fourth year of our five-year Strategic Plan. The 2019-2024 Strategic Plan set out ambitious plans for InFocus Charity (known as WESC Foundation at the time). It detailed how we plan to grow our services and increase the positive impact for our beneficiary group – children, young people and adults with vision impairment and complex needs.

The plan sets out five key objectives, underpinned by both a financial strategy and a marketing and communication strategy. It describes how over the five years we will make sure we get the basics right, whilst reaching towards improvement, innovation, and expansion.

We enter the final year of the strategic plan celebrating our impact, reflecting on where this is work to do, and looking to the future and the next period in the life of InFocus Charity.

We will offer a personalised We will support young people preparation towards leading and adults to live an independent a fulfilling adult life through and fulfilling life in the community our School and College through excellent care and provision and education support services and community outreach. outreach programmes. 1 IMPROVE EDUCATION 2. EXPAND ADULT CARE

3. USE OUR KNOWLEDGE We will share our knowledge and resources with our local community, with 5. STRENGTHEN THE professionals and ORGANISATION within our sector so that more people can We will be a well led, benefit from our work effective and sustainable and expertise.

4. DEVELOP THE SITE We will modernise and create improved spaces on our site which promote independence and enhance learning and living at InFocus.

We will be a well led, effective and sustainable organisation and a great employer.

Achievements in 2022/23

17

InFocus Charity Annual Report 2022/23

Our people

We filled roles across our fundraising, marketing, health, therapy and catering teams during the year. The recruitment landscape across the UK has continued to be challenge, and as a result we ended the year with vacancies in our college and adult care and support teams.

The new Staff Forum was launched in the year and is already proving to be effective. It has engaged with a wide range of subjects and will be consulted on the new Remuneration Policy during the first quarter of 2023/24.

The review of training led to a revamped staff induction process. We are continuing to see wider improvement in timely compliance with training.

Our Trustees continue to give their time to InFocus. Recruitment for new members of the Board is ongoing.

Development projects

The new Skills Centre has been used by people from across our services. Young people from Jigsaw and InFocus College have taken advantage of the training kitchen and used the multi-purpose spaces for a range of activities. An independent living training flat was completed during the year thanks to a generous gift from the Northbrook Community Trust.

Fundraising income was supported by legacy gifts during the year. These allowed the continued refurbishment across the site including Jigsaw and residential accommodation in St David’s House and Supported Living. In-year the estates team have refurbished seven bedrooms and a number of ensuites and bathroom areas. We welcomed a new group of young people into the Slade flat as part of our College Residential programme and adapted the Burrington bungalow to provide accommodation for a new young person.

We have also trialled new adaptations to our spaces, including sensory lighting and noise reduction technologies.

Supported Living has increased to full capacity, and progress has been made on other projects including the new care home.

As the year closes, we have almost completed the work on the two electric access gates. Work has been slightly delayed by the reliance on third parties, but the gates should be in operation by the end of the Autumn Term 2023. Work has commenced on improving the ICT connection to a number of areas across site which will include the laying of new fibres.

Operations and commercial

With utility costs continuing to increase a priority in-year was to review and reduce energy consumption. In-year we have made a few changes which will help the overall energy use:

We upgraded thermostats across the site, particularly in high usage areas such as the pool. We also installed a new control panel which allows a more comprehensive handling of energy use, this has seen a reduction in boiler usage. Across site we continued to replace lighting with sensor-activated lighting and low energy lighting. Where possible we have also reduced ceiling height to increase heat effectiveness.

Prior to the sharp increase in energy prices, we had the foresight to enter into a fixed term capped energy tariff with an energy consultant. This meant that whilst energy prices increased the combined cost of all utilities is almost identical to that spent in 2021/22. This capped contract has expired for gas at the end of August and will expire for electricity at the end of August 2024. Whilst we have seen gas prices increase for the new year, again we have been able to cap these at a competitive rates. Energy consumption will continue to be a priority in the coming years.

The operating profit margin across charity retailed improved compared to 2021/22. Sales also increased, and the retail portfolio has increased its contribution to the work of the charity. We also opened a new charity shop in Ottery St Mary. The West Hill Outdoor Learning Centre now focuses on offering educational placements to young people from specialist colleges in the region, and was available to all the young people supported directly by InFocus Charity.

The trustees reviewed and amended the reserves policy in January 2023. The updated reserves policy includes a designated fund for delayed payments. It also considered the current contracts and operating costs. We are still prioritising achieving the level of reserves outlined in the charity’s Reserves Policy (see Reserves and Financial Health, page 28).

18

InFocus Charity Annual Report 2022/23

Quality of provision

The new curriculum is helping to prepare young adults in College for their lives beyond InFocus. It is effective across the learning pathways, and we anticipate that it will be fully-embedded by the end of 2023/24. Therapeutic input for each student in College is now fully-integrated into curriculum and is having a measurable impact.

Ofsted visited the College for a monitoring visit in June 2023. They recognised that progress had been made in:

We accept that we need more time to fully-embed the curriculum across the College, and continue on our improvement journey towards becoming an Ofsted “Good” College. Young people at our College are safe, happy, and benefitting from an education that is having a positive impact on their lives. Our parents and other stakeholders recognise this too, and are supportive of the steps we are taking.

CQC still rate our residential provision (St David’s House and College Residential) as Outstanding. We received a Direct Monitoring Activity by the CQC in December 2022. Although no published report is produced the outcome was that no further regulatory action was required.

Our Safeguarding is deemed effective across all our inspections. We have developed a new lockdown procedure that will be implemented in 2023/24.

----- Start of picture text -----
20
----- End of picture text -----

Operational improvements

A new Marketing Manager is in post, and a Marketing for Admissions strategy is in place. Part of this includes a strategic priority to work more closely with other VI networks and organisations in the region, as well as building and continuing to strengthen strategic partnerships with feeder schools around the UK.

We have seen referrals for our community services increase from both internal and external routes. Our Supported Living service is full and Jigsaw almost doubled its number of beneficiaries over the year. As a result, we are considering how to expand these services during 2023/24.

Catering continues to deliver good value for money. The outcome of a review has recommended a Food Forum to launch during 2023/24 (to bring together representatives of staff from catering, care, College, and the young people we support). Catering staff will spend more time with the young people during food service times, and will increase the amount of specialist training in areas including diabetes and dysphagia.

Over the few years we have seen major infrastructure improvements within the ICT. These include:

The infrastructure upgrades are now successfully completed, and we go into the new year preparing for the Windows 11 update and improving connection speed across some areas of the organisation.

InFocus Charity Annual Report 2022/23

Objectives for 2023/24

Governance

We will:

Services, space and expertise

We will:

Quality and compliance

People and culture

We will:

We will:

Finance and resources

We will:

Technology and environment

We will:

22

InFocus Charity Annual Report 2022/23

Income and Expenditure

Finance and

Risk

Introduction

The end of year management accounts show an operating surplus of £71,892 against a budget of £15,045. When statutory adjustments are applied the end of year financial statements show a consolidated income for the year of £9,113,289 with expenditure totalling £9,222,059.

The end of year consolidated accounts including net realised and unrealised gains from investments reported a deficit of £133,782. The reported deficit is mainly due to a significant overspend in contract, agency and overtime.

Other key areas for consideration are:

Staffing

Recruitment and retention of staff improved during 2022/23 (including in some of our priority areas like fundraising, catering and health) but we have been unable to avoid the ongoing national situation of low unemployment.

Whilst a priority in 2022/23 was to reduce the reliance on agency staff this has not been achieved due to the continued high level of vacancies we have in our care teams. The use of agency staff to fill these vacancies is unavoidable due to high individual needs of our young people and to continue to deliver high quality care. This has led to a significant overspend on head-related expenditure.

During the year we:

Several regular agency staff successfully applied for permanent employment with InFocus.

Fees

We applied a moderate inflationary increase to education fees for 2022/23, whilst this was accepted by most of the commissioning local authorities, this was not the case with all authorities which has proved challenging with increasing cost.

Fortunately, adult social care funding has continued to recognise the pressure associated with providing ongoing care and most local authorities have provided an inflationary increase when reviewed in April.

Charity Retail

Sales across our portfolio of charity shops were strong. All shops increased their sales and overall profitability.

During the year we opened an additional shop in Ottery St Mary, East Devon. The total sales and expenditure for charity retail includes the sales from Ottery St Mary April to August 2023, and initial setup costs, respectively.

The cost of sales for online trading increased this year due to changes to rules for specific platforms.

We continued to prioritise sourcing higher-value items from across the region (including local businesses and networking groups), as well as purchasing a small quantity of new-goods and vintage stock for resale.

At the end of the year our charity retail achieved an overall gross income of £600,857 against a budget of £544,702 (including Gift Aid).

Leased properties

The Trustees have considered the valuation of the leased properties that continue to be leased to Plymouth University. The properties were last externally valued in August 2022. In the current year, given the current economic climate and following a review of market conditions, the Trustees do not believe that the valuation has materially changed since the last external valuation. As a result no revaluation has been made in the current year. An external valuation will be completed prior to the end of year August 2024.

24

InFocus Charity Annual Report 2022/23

Fundraising

We appointed a new Head of Fundraising in October 2022. Most of the activity for the year was based around unrestricted fundraising through trusts and foundations, challenge events and corporate engagement. We also received several legacy gifts that significantly affected our unrestricted fundraising.

Unrestricted fundraising realised an income of £492,929 against a revised budget of £485,000. The initial forecast for 2022/23 was just over £125,00 which the team more than exceeded.

The cost of fundraising for the year is £45,014.

InFocus Enterprises (previously known

as WESC Enterprises)

Total income from venue hire increased slightly against 2021/22, whilst income from catering and vending rose strongly compared to the previous year. This was largely due to the full-time return of visiting students from University of Plymouth.

Use of the swimming pool is still an important source of revenue, as are the new opportunities for hosting external placements at our West Hill Outdoor Learning Centre.

At the start of the year the trading company predicted a surplus of £61,025. At the end of the year the recorded income was £366,919 with expenditure of £244,735 giving an end of year surplus of £122,184. The Board of InFocus Enterprises plans to Gift Aid this surplus to InFocus Charity.

Reserves and financial health

The Board of Trustees received monthly management accounts and key performance indicators to ensure the trustees have oversight of the charity's accounts. This includes income & expenditure against the agreed budget, current and predicted cash flow and analysis of debtors and creditors.

During the year there are two budget reforecasts which allows the Executive team to make the required adjustment to ensure the budget remains on track as much as possible.

Any restricted funds held are reviewed regularly by the Executive team to ensure the funds are used in line with the applied restriction and in ways that will support our young people.

The Trustees reviewed and updated the Reserves Policy in January 2023. When reviewing the Reserves Policy, and free reserves, the Trustees have taken into consideration the increasing running costs of the organisation and the impact this has on the operating reserve level. When setting the recommended level of reserves the Trustees have considered the levels of restricted and unrestricted funding; the balance between the reliability of income in any given period; and the extent to which spend is committed. The Trustees have also considered the increase in delayed periods of termly fees from local authorities. The revised Reserves Policy indicates that we should aim to hold free reserves of:

aim to hold free reserves of:
3 months Operating Reserves*
(free reserves)
Death or loss of contract for
service user (designated Funds)
Site improvement (designated
Funds)
Delay in fee payment
(designated Funds)		 £2,207,196
£200,000
£500,000
£200,000
Total free reserves required
(including designated funds)		 £3,107,196

As of 31st August 2023 the total free reserves were £3,055,540 (see Note 20, page 56). The operating reserves on the above calculations were just over 2.9 months (excluding designated Funds).

The Trustees are mindful that the current reserves do not meet the charity's Reserves Policy and achieving the agreed free reserves remains a priority of the Trustees.

The Trustees continue to be mindful of the ongoing impact the increased cost of living and rising energy prices. The Trustees agree a rolling three-year budget and will continue to monitor inyear performance. We have a higher-than-average number of College students expected to leave at the end of 2023/24 and increasing the number of new students in College is a priority for 2023/24.

We still intend to purchase a second residential home. A number of properties were viewed during 2022/23 but were unsuitable. All onsite adult residential places are now full and we currently have a waiting list of 9 people.

InFocus reviewed its existing income generating activities during the year. Improved practices in charity retail and e-commerce helped improve performance against budget across the portfolio. A decision was made to expand charity retail. The West Hill outdoor activity centre has changed the focus of its work to suit customer demand and the resources available at the project which resulted in increased income during the year. Short-term improvements in the InFocus Café will be made during 2023/24 alongside creating a longer-term plan for commercial catering on site.

The Board monitors financial resilience and currently maintain a reasonable level of reserves. Taking the information available into consideration the Trustees are satisfied that there are no material uncertainties around the ability of InFocus Charity and InFocus Enterprises to continue as a going concern for at least the next 12 months.

Investments

Cash flow continues to be monitored closely. Ensuring billing is completed promptly and chasing outstanding payments in a timely manner has meant that cash flow is healthier compared with 2021/22. Unfortunately, we continue experience delay in some local authorities agreed and paying fees ahead of the academic year. For some local authorities this continued into the spring term. This causes a financial burden on the charity’s resources. Working with local authorities to improve this continues to be a priority.

During 2022/23 we have seen less volatility within the long-term investments held with Sarasin and Partners, with an overall end-of-year loss of £25,012 compared with a loss of £129,126 in 2021/22.

Following a presentation to the Board in June 2023 by Sarasin and Partners, the Trustees remain positive and confident in the management of their long-term investments.

The long-term investments held by the charity are included when calculating free reserves.

Pension Obligations

Staff are ordinarily enrolled in one of three principal pension arrangements as employees of InFocus Charity. The InFocus Pension schemes are with Aviva (previously Friends Life, now closed to new entrants), NEST and the Teachers’ Pension.

As of 31st August 2023 there are 11 staff in the Teachers’ Pension, 22 are in Aviva, 171 are in NEST pension scheme and 1 employee has individual pension arrangements. All details of the commitments under the pension schemes are contained within note 27 of the financial statements.

*based on average end of year monthly operating costs.

InFocus Charity Annual Report 2022/23

Principal risks and

uncertainties

Introduction

The Board of Trustees are responsible for the overseeing of risks faced by InFocus. The Risk Register is reviewed three times a year by the Board’s three Advisory Committees with any recommendations for changes being agreed at the Board.

Detailed analysis of the risks is delegated to the Executive team. These are identified, assessed and controls established to mitigate the risk.

The principal risks that the Board of Trustees identified during 2022/23 are:

Student numbers

2022/23 was the first year without the InFocus School as a feeder school for our college. A new “Marketing for Admissions” strategy is now in place.

Actions so far have included:

This has already seen an increase in potential placements at our College.

Staffing

The Trustees awarded a 5% increase in salaries to all staff (except senior managers) from September 2022. The cost-of-living crisis deepened throughout 2022/23, with inflation reaching record levels. Many public and private sector employers responded by raising wages. All of these factors effectively wiped out the benefit of the inflationary increase for InFocus staff.

We are still unable to rely on regular and reasonable fee increases for all our commissioned placements. This means we cannot sustain inflationary increases in staff salaries year-on-year.

During the year we introduced a number of new and improved measures to help with the recruitment and retention of staff (see Achievements in 2022/23). These are beginning to take effect, but it remains to be seen whether these measures will make InFocus competitive against organisations who can offer a higher basic salary.

Where possible we work with a small number of agencies who are often able to provide consistency in staffing.

This means that young people at InFocus are still making progress across all parts of our provision (going well above simply keeping them safe and ensuring their needs are met).

In 2023/24 we will continue to invest in all aspects of recruitment and retention. Plans include:

Quality of Provision

There are effective improvement plans in place for the College, including embedding a new curriculum. All are tested through internal audit, learning walks and external scrutiny from Trustees, external advisors and other education and care leaders.

Ofsted visited for a monitoring visit in June 2023. Improvements were identified, but more needs to be done to fully-embed the curriculum and deliver other improvements around the College. Whilst we know that students are enjoy their time at InFocus College and are making progress, more needs to be done to demonstrate the quality of what we do.

The Trustees are aware that there is a significant risk that quality of provision in College could affect our funding and commissioning in future years.

Risk of cyber attack

There is an ongoing risk of cyber attack. InFocus continues to mitigate this risk by:

Our buildings

Most of the buildings on site are between 20 and 35 years old, and many are suffering from a period where maintenance and repair was limited.

that we sometimes must address significant issues in-year.

In 2022/23 we delivered key capital projects thanks to unexpected legacy income (see Achievements in 2022/23). Our current funding model and scale of fundraising both mean see us being dependent on legacy income to tackle many of the significant projects on site.

Our capital priorities for 2023/24 include planning the delivery and funding of:

Governance

Trustee recruitment has been steady in recent years, in line with our expectations (given what we know about terms of office). However, we have also seen some Trustees having to step down due to changes in personal circumstances.

During 2022/23 we aim to recruit at least two new Trustees so that the Board can continue to provide effective scrutiny.

A new Trustee Recruitment Strategy will assess our existing recruitment activity. It will make recommendations on how we can the ways we recruit and retain new Trustees to shape the future of the charity over the life of the next Strategic Plan.

A programme of regular maintenance is now in place, with key capital projects such as boiler replacement now part of financial and strategic planning. The age of our buildings and infrastructure does mean

InFocus Charity Annual Report 2022/23

Structure, Governance and Management

Board of Trustees

At the end of August 2023 InFocus Charity had eight Trustees chaired by Pamela Marsden who was appointed Chair in September 2022.

One Trustee resigned during the year. We also recruited one Trustee to join the Board during 2022/23.

The Board has three sub-committees which each met three times during the year. On each committee there are nominated Trustees and each committee is Chaired by a Trustee. The committees are:

Adult Services Advisory Committee

(Chair: Briony Dillon, Trustee)

Education Advisory Committee

(Chair: Andrew Daniel, Trustee)

Business Affairs Advisory Committee

(Chair: Derek Fargher, Trustee)

During 2022/23 the Trustees held:

• Five Board meetings

Trustees also actively engage in training which includes mandatory safeguarding training.

InFocus Trustees as at 31 August 2023 were:

• Pamela Marsden (Chair)

All Trustees give of their time freely and no remuneration was paid in the year.

Legal Structure

InFocus Charity is a company limited by guarantee registered in England and Wales with company number 06928379 and charity number 1058937.

Executive Team

The Board of Trustees delegates the operational management of InFocus Charity to its Chief Executive who works with an Executive team, as of the 31st August 2023 these were:

• Jane Bell, CEO

Staffing

On 31st August 2023 InFocus Charity was employing 235 staff (including 21 bank staff) (172.26 FTE). As is the case elsewhere in the care sector recruiting support staff remained a challenge despite increasing resources for staff recruitment.

No bonus payments are paid to InFocus employees. We do not operate a performance related pay system. Our principles are to pay our staff a fair salary that is competitive with the charity sector, proportionate to the complexity of each role and responsibility and in line with our charitable objectives.

Equality, diversity and inclusion

InFocus is committed to working towards the vision of a world where people who are blind and partially sighted enjoy the same rights, responsibilities, opportunities, and quality of life as people who are sighted. We also recognise that people are not all the same, that people are different and have different needs and experiences.

InFocus respects and welcomes the diversity of experience and background of all the people who work for and with us. As part of this commitment InFocus continues to retain its status as a Disability Confident Leader.

The young people who attend InFocus are visually impaired and many have additional disabilities and come from a range of cultural and minority backgrounds. Our prime objective is to enable all our young people to reach their personal potential in a happy, challenging, and caring environment that acknowledges their individual strengths and challenges. Part of how we do this is living out our community values of “a sense of belonging” and “respect and kindness”. We regularly promote and educate our young people about events and customs from other cultures and faiths. Support across our services adapts to meet the needs of our young people (e.g. facilitating access to places of worship, or adapting diets to reflect different cultures).

Our new Equality, Diversity and Inclusion Policy was adopted in June 2023 and will be reviewed during the year.

Fundraising

Fundraising was overseen by the Head of Fundraising (appointed October 2022) and the Director of Income Generation and Business Development. The main fundraising activities were applications to charitable trusts and foundations, sponsored challenge events, and approaches to individuals. Legacies were also received within the year.

InFocus Charity is registered with the Fundraising Regulator and subscribes to the Code of Fundraising Practice. It sets the standards that apply to fundraising carried out by all charitable institutions and third-party fundraisers in the UK. This includes practice on accepting donations from vulnerable people (including those who may not have the capacity to make an informed decision) and the creation of proper fundraising materials that do not mislead (or are likely to mislead) members of the public.

No complaints about fundraising activity were received during the year.

Trading company

InFocus Charity has a wholly owned subsidiary. During 2022/23 the company changed its name from WESC Enterprises to InFocus Enterprises. All trading that is not aligned with our core objectives is carried out by InFocus Enterprises.

As of the 31 August 2023 the InFocus Enterprises Board consisted of:

Jane Nutt – Company Secretary (also Director of Operations and Company Secretary for InFocus Charity)

This Trustee report is therefore a consolidated Directors’ report relating to InFocus Charity and its subsidiary InFocus Enterprises. However, the greatest emphasis for this report is the activities of InFocus Charity as a charitable organisation.

No fundraising was carried out by commercial participators.

InFocus Charity Annual Report 2022/23

Reference and administrative details

Registered charity name: InFocus Charity

Charity registration number: 1058937 Company registration number: 06938379

Registered office: Topsham Road, Countess Wear, EXETER, EX2 6HA

Trustees:

Sub-committee advisory members:

Ambassadors: Michael Caines MBE DL • Judi Spiers

Chief Executive Officer: Jane Bell

Executive Team:

Auditors: PKF Francis Clark, Centenary House, Peninsula Park, Rydon Lane, EXETER, EX2 7XE

Statement of Trustees’ Responsibilities

The Charity Trustees (who are also Directors of InFocus Charity for the purposes of Company Law) are responsible for preparing a Trustees’ Annual Report and Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Charity Trustees to prepare Financial Statements for each year which give a true and fair view of the state of affairs of the Charitable Company and the Group and of the incoming resources and application of resources, including the Income and Expenditure, of the charitable group for that period. In preparing these Financial Statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the Financial Statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the Charity and the Group and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware at the time of approving our Trustees’ Annual Report:

Legal advisors:

The Trustees approve the Trustees’ Annual Report, including approval in their capacity as company directors of the Strategic Report contained within it, on 13 December 2023.

Investment Managers: Sarasin and Partners, Juxon House, 100 St Paul’s Churchyard, LONDON, EC4M 8BU

Banking: National Westminster, 59 High Street, EXETER, EX4 3DP

Insurance: Venture, Bank House, Burlington Road, Redland, BRISTOL, BS6 6TJ

Pamela Marsden, Chair of Trustees

InFocus Charity Annual Report 2022/23

Independent Auditors Report

to the Members of InFocus Charity for the year ended 31 August 2023

Opinion

We have audited the Financial Statements of InFocus Charity (the “Charity”) for the year ended 31 August 2023 which comprise the Group Statement of Financial Activities, Group and Parent Company Balance Sheets, Statement of Consolidated Cash flows and notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland.

In our opinion, the financial statements:

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 Charity 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 Charity’s ability to continue as a going concern for a period of at least twelve months from when the original financial statements were 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 trustees are responsible for the other information. The other information comprises the information included in the Annual Report other than the Financial Statements and our auditor’s report thereon. 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.

In connection with our audit of the Financial Statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in 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:

Responsibilities of the Trustees

As explained more fully in the Statement of Trustees’ Responsibilities set out on page 17, the Trustees (who are also the Directors of the Charity for the purposes 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 they 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 Charity’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 Charity or to cease operations, or have no realistic alternative but to do so.

InFocus Charity Annual Report 2022/23

Our 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. Mis-statements 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:

As part of our audit planning, we obtained an understanding of the legal and regulatory framework that is applicable to the Charity. We gained an understanding of the Charity and the industry in which the Charity operates as part of this assessment to identify the key laws and regulations affecting the Charity. As part of this, we reviewed the Charity’s website for indication of any regulations and certification in place and discussed these with the relevant individuals responsible for compliance. The key regulations we identified were Charity Legislation, Ofsted, compliance with the Care Quality Commission (“CQC”), safeguarding, health and safety regulations and The General Data Protection Regulation (“GDPR”). We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006.

We discussed with management and trustees how the compliance with these laws and regulations in monitored and discussed policies and procedures in place. We also identified the individuals who have responsibility for ensuring that the Charity complies with laws and regulations and deals with reporting any issues if they arise. As part of our planning procedures, we assessed the risk of any non-compliance with laws and regulations on the Charity’s ability to continue trading and the risk of material mis-statement to the accounts.

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Our procedures involved the following:

• Enquiries of management regarding their knowledge of any non-compliance with laws and regulations that could affect the financial statements. As part of these enquiries we also discussed with management whether there have been any known instances, allegations or suspicions of fraud, of which there were none.

In response to the identified risk, as part of our audit work we:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements. This risk increases the further removed noncompliance with laws and regulations is from the events and transactions reflected in the financial statements as we are less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities .

This description forms part of our auditor’s report.

Use of our Report

This report is made solely to the Charity’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 Charity’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 Charity’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Stephanie Henshaw (Senior Statutory Auditor)

For and on behalf of

PKF FRANCIS CLARK, Chartered Accountants & Statutory Auditor

Centenary House,

Peninsula Park

Rydon Lane,

Exeter, EX2 7XE

Date: 15th December 2023.

AAs part of our enquiries we discussed with management whether there have been any known instances, allegations or suspicions of fraud, of which there were none. We evaluated the risk of fraud through management override. The key risks we identified were management bias in accounting judgements and estimates. We also evaluated the risk of fraud through misapplication of grant funding.

Consolidated Statement of Financial Activities (including Income and Expenditure Account)

InFocus Charity Annual Report 2022/23

31 August 2023

Accounts and

Financial Statements

31 August 2023
Unrestricted Restricted 2023 Total 2022 Total
funds funds funds funds
Note £ £ £ £
Income and endowments
Donations and legacies 4 493,429 3,232 496,661 195,017
Charitable activities 5 7,997,537 39,530 8,037,067 7,616,717
Other trading activities 6 366,919 - 366,919 304,732
Investment income 7 57,993 - 57,993 30,742
Other income 8 132,814 21,835 154,649 187,741
─────── ─────── ─────── ───────
Total income 9,048,692 64,597 9,113,289 8,334,949
═══════ ═══════ ═══════ ═══════
Expenditure
Expenditure on raising funds 9 252,847 - 252,847 240,645
Expenditure on charitable activities 10 8,697,997 271,215 8,969,212 7,724,158
─────── ─────── ─────── ───────
Total expenditure 8,950,844 271,215 9,222,059 7,964,803
═══════ ═══════ ═══════ ═══════
Net unrealised gain / (loss) on 12 - - - 92,500
revaluation of fxed assets
Net realised and unrealised gains / 12 (25,012) - (25,012) (129,126)
(losses) on investments
Transfers between funds - - - -
─────── ─────── ─────── ───────
Net income/(expenditure) and net 72,836 (206,618) (133,782) 333,520
movement in funds
═══════ ═══════ ═══════ ═══════
Reconciliation of funds
─────── ─────── ─────── ───────
Total funds brought forward (2022) 7,988,923 1,601,433 9,590,356 9,256,836
─────── ─────── ─────── ───────
Total funds carried forward 8,061,759 1,394,815 9,456,574 9,590,356
═══════ ═══════ ═══════ ═══════

The statement of financial activities includes all gains and losses recognised in the year.

38

InFocus Charity Annual Report 2022/23

Balance Sheet

Year ended 31 August 2023
Note 2023 2023 2022 2022
Group Charity Group Charity
Fixed assets £ £ £ £
Tangible fxed assets 16 6,232,382 6,232,382 6,291,302 6,291,302
Investments 17a 1,204,917 1,205,017 1,229,929 1,230,029
Investment properties 18 515,000 515,000 515,000 515,000
─────── ─────── ─────── ───────
7,952,299 7,952,399 8,036,231 8,036,331
Current assets
Debtors 19 971,459 902,996 390,861 374,739
Investments 17b 9,384 9,384 1,286 1,286
Cash at bank and in hand 25 1,674,104 1,604,572 1,795,672 1,715,840
─────── ─────── ─────── ───────
2,654,947 2,516,952 2,187,819 2,091,865
Creditors: amounts falling due within 20 (1,150,672) (1,134,681) (633,694) (624,859)
one year
─────── ─────── ─────── ───────
Net current assets 1,504,275 1,382,091 1,554,125 1,467,006
─────── ─────── ─────── ───────
Total assets less current liabilities 9,456,574 9,334,490 9,590,356 9,503,337
─────── ─────── ─────── ───────
Net assets 9,456,574 9,334,490 9,590,356 9,503,337
═══════ ═══════ ═══════ ═══════
Funds of the charity
Restricted funds 1,394,815 1,394,815 1,601,433 1,601,433
Unrestricted funds 8,061,759 7,939,675 7,988,923 7,901,904
─────── ─────── ─────── ───────
Total charity funds 21 9,456,574 9,334,490 9,590,356 9,503,337
═══════ ═══════ ═══════ ═══════

Statement of cash flows

Year ended 31 August 2023
Note 2023 2022
Cash fows from operating activities: £ £
Net cash provided by operating activities 152,344 1,329,455
─────── ───────
Cash fows from investing activities:
Purchase of property, plant and equipment (331,905) (449,749)
Investment additions - -
Investment income 57,993 30,742
Proceeds on disposal of investments - 300,055
─────── ───────
Net cash used in investing activities (273,912) (118,952)
Change in cash and cash equivalents in the reporting period (121,568) 1,210,503
─────── ───────
Cash and cash equivalents at the beginning of the reporting period 1,795,672 585,169
─────── ───────
Cash and cash equivalents at the end of the reporting period 25 1,674,104 1,795,672
═══════ ═══════
Net income / (expenditure) for the period (133,782) 333,520
Depreciation 388,022 404,985
(Gain)/loss on investments 25,012 129,126
(Gain)/loss on disposal of fxed assets 2,803 -
(Gain)/loss on investment property - (92,500)
Investment income and bank interest (57,993) (30,742)
(Increase) / decrease on debtors (580,598) 407,801
(Increase) / decrease on current asset investments (8,098) 10,061
(Decrease) / increase on creditors 516,978 167,204
─────── ───────
Net cash provided by operating activities 152,344 1,329,455
═══════ ═══════

As permitted by s.408 Companies Act 2006 the company has not presented its own profit and loss account. The loss in the parent charity’s accounts is £168,847 (2022: profit of £252,330).

These financial statements were approved by the Board of Trustees and authorised for issue on 13th December 2023, and are signed on behalf of the board by:

Pamela Marsden, Chair of Trustees Company registered number: 06938379

InFocus Charity Annual Report 2022/23

Notes to the Financial Statements year ended 31 August 2023

1. General information

The charity is a private company limited by guarantee, registered in England and Wales.

The address of the registered office is Topsham Road, Countess Wear, Exeter, Devon, EX2 6HA. The charitable entity is a public benefit entity.

2. Accounting policies

(a) Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)), the Companies Act 2006 and the Charities Act 2011. There were no material departures from FRS 102 or the Charities SORP (FRS 102).

(b) Basis of preparation

The financial statements have been prepared on the historical cost basis except to the extent that certain assets are carried at fair value as explained below.

The financial statements are prepared in sterling, which is the functional currency of the entity.

(c) Basis of consolidation

The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertaking drawn up to 31 August 2023.

A subsidiary is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.

No separate SOFA has been presented for the Charity alone as permitted by S.408 of the Companies Act 2006.

(d) Going concern

In making their assessment of going concern the Trustees have considered cashflow forecasts for the next 12 months and beyond. They are satisfied that there are no material uncertainties about the group's ability to continue. Further details on this assessment are in the Trustees’ Report.

(e) Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The following are the significant judgements that the Trustees have made in the process of applying the Group’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

Property classifcation

Buildings on the charity’s site have been leased to a third party.

In determining the fair value for the investment properties the trustees have taken into account the existence of potentially significant contractual restrictions on the charity’s entitlement to benefit from the full value of any sale proceeds. They estimate the restriction would limit the charity’s entitlement to some 50% of any proceeds and so have restricted the estimated full open market value of £1,030,000 to £515,000.

(f) Fund accounting

General unrestricted funds comprise accumulated surpluses and deficits on general funds and the cumulative realised and unrealised gains on revaluations of investments. They are available for use at the discretion of the trustees in furtherance of general charitable objectives.

Restricted funds are created where material donations are made specifically for a particular area or purpose. Expenditure is charged in the statement of financial activities subject to the conditions imposed by the donors.

Restricted fixed asset funds represent resources applied for specific capital purposes imposed by funders. Depreciation is charged against the fixed asset fund over the life of the asset.

(g) Income

Income is included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Donations

Donations are included in full in the statement of financial activities when receivable.

Grants

Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. Where grants are potentially repayable at the period end, the amount received but unspent has been deferred.

Legacies

Legacies are included when the charity is advised by the personal representative of an estate that payment will be made or property transferred and the amount involved can be quantified.

Donated services

Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included.

Charitable activities

Fee income, outreach income and landlords supported living are recognised in the period to which the income relates.

Fees

Fee income comprises amounts receivable from Local Authorities for the provision of education, including boarding, and is recognised on a straight line basis over the academic year. Fees received in advance of the academic year are classified as deferred income

InFocus Charity Annual Report 2022/23

Trading income

Trading income comprises amounts receivable in respect of sales from the café, together with the hire of rooms and the swimming pool. Café sales are recognised when the sale is made which is also the point of cash receipt. Room hire and swimming pool income are recognised when used and income is deferred where cash is received in advance.

Property rental income is recognised straight line over the period of the lease.

Income from investments is included in the year in which it is receivable.

(h) Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expense category to which it relates.

Costs of raising funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs comprise all costs incurred in running the charity itself as an organisation, and its compliance with regulation and good practice.

(i) Operating leases

Rentals under existing operating leases are charged as the payments are incurred. For new leases rentals will be charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

(j) Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

(k) Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:

(m) Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to fair value at each reporting date and any changes in fair value are recognised in statement of financial activities as a gain or loss on revaluation.

(n) Financial instruments

A financial asset or a financial liability is recognised only when the group becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for evidence of impairment at the end of each reporting date. If there is evidence of impairment, an impairment loss is recognised in the statement of financial activities.

(o) Retirement benefits

The Charity’s employees belong to three principal pension schemes: the Teachers’ Pension Scheme England and Wales (TPS) for academic and related staff; the InFocus Charity pension scheme with Aviva (previously Friends Life) which is closed to new entrants and a NEST Pension Scheme.

The TPS is an unfunded scheme and contributions are calculated so as to spread the cost of pensions over employees’ working lives with the Charity in such a way that the pension cost is a substantially level percentage of current and future pensionable payroll. The contributions are determined by the Government Actuary on the basis of quinquennial valuations using a prospective benefit method. As stated in the notes to the financial statements, the TPS is a multi-employer scheme and the Charity is unable to identify its share of the underlying assets and liabilities of the scheme on a consistent and reasonable basis. The TPS is therefore treated as a defined contribution scheme and the contributions recognised as they are paid each year.

The Aviva and NEST pension schemes are defined contribution schemes and the contributions are recognised as they are paid each year.

3. Limited by guarantee

The Charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £10.

(l) Investments

Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.

In the company balance sheet investments in subsidiaries are recorded at cost less impairment.

InFocus Charity Annual Report 2022/23

4.Donations and legacies

4.Donations and legacies
Unrestricted Restricted Total funds Total funds
funds funds 2023 2022
£ £ £ £
Covid-related grants 500 - 500 50,887
Fundraising and donations 138,862 3,232 142,094 93,630
Legacies 354,067 - 354,067 50,500
─────── ─────── ─────── ───────
493,429 3,232 496,661 195,017
═══════ ═══════ ═══════ ═══════

Included in the 2023 total of £496,661 (2022: £195,017) is unrestricted income of £493,429 (2022: £158,380) and restricted income of £3,232 (2022: £36,637).

5. Charitable activities

5. Charitable activities
Unrestricted Restricted Total funds Total funds
funds funds 2023 2022
£ £ £ £
Educational grants 426,721 39,530 466,251 457,102
Fee income 6,229,195 - 6,229,195 6,065,912
Outreach income - - - -
Shop income 600,857 - 600,857 474,673
Landlords Supported Living 740,764 - 740,764 619,030
─────── ─────── ─────── ───────
7,997,537 39,530 8,037,067 7,616,717
═══════ ═══════ ═══════ ═══════

7. Investment income

7. Investment income
Unrestricted Restricted Total funds Total funds
funds funds 2023 2022
£ £ £ £
Income from listed investments 44,235 - 44,235 30,038
Bank interest receivable 13,758 - 13,758 704
─────── ─────── ─────── ───────
57,993 - 57,993 30,742
═══════ ═══════ ═══════ ═══════

Included in the total for 2023 of £57,993 (2022: £30,742) is unrestricted income of £57,993 (2022: £30,742) and restricted income of £nil (2022: £nil).

8. Other income

8. Other income
Unrestricted Restricted Total funds Total funds
funds funds 2023 2022
£ £ £ £
Other income 54,103 21,835 75,938 109,030
Premises income 78,711 - 78,711 78,711
─────── ─────── ─────── ───────
132,814 21,835 154,649 187,741
═══════ ═══════ ═══════ ═══════

Included in the total for 2023 of £154,649 (2022: £187,741) is unrestricted income of £132,814 (2022: £156,547) and restricted income of £21,835 (2022: £31,194).

9. Raising Funds

Included in the total for 2023 of £8,037,067 (2022: £7,616,717) is unrestricted income of £7,997,537 (2022: £7,581,319) and restricted income of £39,530 (2022: £35,398).

6. Other trading activities

6. Other trading activities
Unrestricted Restricted Total funds Total funds
funds funds 2023 2022
£ £ £ £
Trading subsidiary income 366,919 - 366,919 304,732
─────── ─────── ─────── ───────
366,919 - 366,919 304,732
═══════ ═══════ ═══════ ═══════

Included in the total for 2023 of £366,919 (2022: £304,732) is unrestricted income of £366,919 (2022: £304,732) and restricted income of £nil (2022: £nil).

9. Raising Funds
Unrestricted Restricted Total funds Total funds
funds funds 2023 2022
£ £ £ £
Fundraising costs 45,014 - 45,014 33,502
Marketing costs 79,920 - 79,920 97,026
Commercial trading operations 127,913 - 127,913 110,117
─────── ─────── ─────── ───────
252,847 - 252,847 240,645
═══════ ═══════ ═══════ ═══════

Included in the total for 2023 of £252,847 (2022: £240,645) is unrestricted expenditure of £252,847 (2022: £240,645) and restricted expenditure of £nil (2022: £nil).

InFocus Charity Annual Report 2022/23

10. Expenditure on charitable activities by activity type

Activities Support Total funds Total funds
undertaken costs 2023 2022
directly
£ £ £ £
Teaching and education 1,036,293 - 1,036,293 994,326
Learner support services 4,561,159 - 4,561,159 3,711,440
Charity support services 2,779,978 - 2,779,978 2,507,532
InFocus charity shops 561,085 - 561,085 480,872
Governance costs - 30,697 30,697 29,988
─────── ─────── ─────── ───────
8,938,515 30,697 8,969,212 7,724,158
═══════ ═══════ ═══════ ═══════

Included in the total of £8,969,212 (2022: £7,724,158) is unrestricted expenditure of £8,697,997 (2022: £7,546,023) and restricted expenditure of £271,215 (2022: £178,135).

11. Taxation

The charity's activities fall within the exemptions afforded by the provisions of sections 466 to 493 of the Corporation Taxes Act 2010. Accordingly, there is no taxation charge in these accounts.

12. Net gains and losses on investments and investment property

Unrestricted Restricted Total funds Total funds
funds funds 2023 2022
£ £ £ £
Realised gains/(losses) on investments - - - 24,983
Unrealised gains/(losses) on investments (25,012) - (25,012) (154,109)
Unrealised gain/(losses) on investment - - - 92,500
properties
─────── ─────── ─────── ───────
(25,012) - (25,012) (36,626)
═══════ ═══════ ═══════ ═══════

The total loss for 2023 of £25,012 (2022: £36,626) is unrestricted.

14. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

2023 2022
Group Group
£ £
Wages and salaries 4,943,807 4,610,570
Social security costs 418,390 377,411
Employer contributions to pension plans 278,757 228,093
Agency staf 1,304,999 678,821
─────── ───────
6,945,953 5,894,895
═══════ ═══════
ncluded in staf costs are redundancy payments totalling £nil (2022: £nil).
The average head count of employees during the year was 227 (2022: 234). The number of employees w
emuneration for the year fell within the following bands were:
2023 2022
Group Group
No. No.
£60,000 to £69,999 1 2
£70,000 to £79,999 2 1
£80,000 to £89,999 - -
£90,000 to £99,999 1 1
─────── ───────
4 4
═══════ ═══════

Included in staff costs are redundancy payments totalling £nil (2022: £nil).

The average head count of employees during the year was 227 (2022: 234). The number of employees whose remuneration for the year fell within the following bands were:

Key management personnel were made up of all Executive members (6) and remuneration totalled £422,751 (2022: £393,645).

15. Related party transactions

The charity trustees were not paid and did not receive any other benefits from employment with the charity (2022: £nil). There were reimbursements of expenses to trustees of £661 (2022: reimbursements of expenses to trustees of £631). No charity trustee received payment for professional or other services supplied to the charity (2022: £nil).

13. Net income/(expenditure)

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

2023 2022
Group Group
£ £
Depreciation 388,022 404,985
Operating lease rentals 99,773 88,839
Auditors’ remuneration 23,698 20,000

InFocus Charity Annual Report 2022/23

16. Tangible fixed assets (charity and group)

Land and Motor Equipment Total
buildings vehicles
£ £ £ £
Cost
At 1 September 2022 11,589,537 215,985 705,735 12,511,257
Additions 242,570 26,710 62,625 331,905
Transfers - - - -
Disposals - (28,000) - (28,000)
─────── ─────── ─────── ───────
At 31 August 2023 11,832,107 214,695 768,360 12,815,162
═══════ ═══════ ═══════ ═══════
Depreciation
At 1 September 2022 5,515,189 172,804 531,962 6,219,955
Transfers - - - -
Charge for the year 289,610 10,490 87,922 388,022
Eliminated on disposal - (25,197) - (25,197)
─────── ─────── ─────── ───────
At 31 August 2023 5,804,799 158,097 619,884 6,582,780
═══════ ═══════ ═══════ ═══════
Carrying amount
At 31 August 2023 6,027,308 56,598 148,476 6,232,382
═══════ ═══════ ═══════ ═══════
At 31 August 2022 6,074,348 43,181 173,773 6,291,302
═══════ ═══════ ═══════ ═══════

17. (a) Fixed asset investments

7. (a) Fixed asset investments
2023 2023 2022 2022
Group Charity Group Charity
£ £ £ £
Investments in subsidiaries - 100 - 100
Other investments 1,204,917 1,204,917 1,229,929 1,229,929
─────── ─────── ─────── ───────
1,204,917 1,205,017 1,229,929 1,230,029
═══════ ═══════ ═══════ ═══════

Investments in subsidiaries (charity)

The company owns the entire issued share capital of InFocus Enterprises Limited (formerly WESC Enterprises Limited). InFocus Enterprises Limited, which is incorporated in England and Wales, gift aids its taxable profit to the charity. The registration number of InFocus Enterprises Limited is 10535508. The registered office is the same as that of InFocus Charity, as disclosed in the administrative section of the trustee’s annual report. The principal activity of the company is running catering services and provision of premises hire.

2023 2022
Summary proft and loss account £ £
Turnover 366,919 304,732
Cost of sales (125,262) (109,188)
─────── ───────
241,657 195,544
Administration expenses (119,473) (108,425)
─────── ───────
Operating proft 122,184 87,119
Taxation - -
─────── ───────
Proft for the year 122,184 87,119
═══════ ═══════
The assets and liabilities of the subsidiary were:
Current assets 140,242 114,768
Creditors: amounts falling due within one year (18,058) (27,649)
Total assets less current liabilities 122,184 87,119
─────── ───────
Aggregate share capital and reserves 122,184 87,119
═══════ ═══════

InFocus Enterprises Limited will Gift Aid all taxable profits to its parent charity within 9 months of the year end, therefore there is no requirement to make a provision for taxation in the financial statements.

InFocus Charity Annual Report 2022/23

17. (a) Fixed asset investments (continued)

Other Investments (Charity and Group)

Other Investments (Charity and Group)
2023 2022
Listed Listed
investments investments
Cost or valuation £ £
At 1 September 2022 1,229,929 1,659,110
Additions - -
Disposals - (300,055)
Realised gain on disposal - 24,983
Fair value movements (25,012) (154,109)
─────── ───────
At 31 August 2023 1,204,917 1,229,929
═══════ ═══════

Financial assets held at fair value

All investments are valued at their open market rate at the balance sheet date using readily available market data..

17. (b) Investments: Current

7. (b) Investments: Current
2023 2023 2022 2022
Group Charity Group Charity
£ £ £ £
Cash held on deposit 9,384 9,384 1,286 1,286
═══════ ═══════ ═══════ ═══════
8. Investment Properties
2023 2023 2022 2022
Group Charity Group Charity
£ £ £ £
Cost or valuation
At 1 September 515,000 515,000 422,500 422,500
Fair value movement - - 92,500 92,500
─────── ─────── ─────── ───────
Carrying value at 31 August 2022 515,000 515,000 515,000 515,000
═══════ ═══════ ═══════ ═══════

18. Investment Properties

19. Debtors

9. Debtors
2023 2023 2022 2022
Group Charity Group Charity
£ £ £ £
Trade debtors 811,691 743,285 192,091 157,055
Amounts owed by group undertakings - 2,347 - 18,914
Other debtors 6,392 3,988 1,223 1,223
VAT recoverable 1,450 1,450 - -
Prepayments and accrued income 151,926 151,926 197,547 197,547
─────── ─────── ─────── ───────
971,459 902,996 390,861 374,739
═══════ ═══════ ═══════ ═══════

20. Creditors: amounts falling due within one year

2023 2023 2022 2022
Group Charity Group Charity
£ £ £ £
Trade creditors 330,146 326,446 277,300 274,155
Social security and other taxes 151,254 139,143 128,081 122,706
Other creditors 34,516 34,516 43,115 42,800
Accruals and deferred income 634,756 634,756 185,198 185,198
─────── ─────── ─────── ───────
1,150,672 1,134,861 633,694 624,859
═══════ ═══════ ═══════ ═══════
Deferred income comprises grant and fee income that relates to future periods which has been rece
dvance.
Deferred income comprises the following:
Charitable Total
activities
£ £
At 1 September 2022 61,769 61,769
Deferred in current period 530,201 530,201
Released to Statement of Financial Activities (61,769) (61,769)
─────── ───────
At 31 August 2023 530,201 530,201
═══════ ═══════

Deferred income comprises grant and fee income that relates to future periods which has been received in advance.

Deferred income comprises the following:

The properties were externally valued at 31 August 2022 after taking appropriate professional advice. During the current year, the Trustees have reviewed this valuation in the context of market data and concluded that there has been no material change which would require the properties to be revalued. The properties are accessed via a private road. The limitations due to the ownership of the access roads and services to both properties mean that the charity could only expect to realise an estimated 50% of any disposal proceeds. The fair value therefore reflects this restriction.

21. Analysis of charitable funds (group)

. nayss o cartae uns (group) InFocus Charity Annual Report 2022/23 InFocus Charity Annual Report 2022/23
At 1 Income Expenditure Transfers At 31
September August 2023
2022
Restricted fxed asset £ £ £ £
funds
St David's House Appeal 815,596 - (71,115) - 744,481
Water Therapy Pool 292,188 - (24,801) - 267,387
Topsham Road 215,313 - (10,856) - 204,457
Other 10,811 - (973) - 9,838
─────── ─────── ─────── ─────── ───────
Total 1,333,908 - (107,745) - 1,226,163
Restricted general funds
Day services 3,680 - - - 3,680
Site development 1,027 67 (839) 6,117 6,372
Activities for young people 68,977 6,532 (40,925) - 34,584
Supporting independence 33,061 - (8,826) 30,423 54,658
Vehicle & transport 28 - - (28) -
Family fund 520 - - - 520
Research 8,787 - (30) - 8,757
Miscellaneous 37,570 - - (37,570) -
Grants
Pupil premium 4,618 1,237 (5,855) - -
Bursaries and grants 30,971 9,397 (21,566) 1,058 19,860
Access to work 9,082 1,405 (5,772) - 4,715
Student purchases 18,428 17,063 (28,973) - 6,518
Talking tills 76 - - - 76
ESFA/DFC/SCA 50,700 28,896 (50,684) - 28,912
─────── ─────── ─────── ─────── ───────
Total 267,525 64,597 (163,470) - 168,652
─────── ─────── ─────── ─────── ───────
Total restricted funds 1,601,433 64,597 (271,215) - 1,394,815
Designated funds – 500,000 - - - 500,000
site improvement
Designated funds – 200,000 - - - 200,000
death or loss of contract for
service users
Designated funds – - - - 200,000 200,000
delay in fee payment
General unrestricted funds 7,288,923 9,048,692 (8,975,856) (200,000) 7,161,759
─────── ─────── ─────── ─────── ───────
Total unrestricted funds 7,988,923 9,048,692 (8,975,856) - 8,061,759
─────── ─────── ─────── ─────── ───────
Total funds 9,590,356 9,113,289 (9,247,071) - 9,456,574

21. Analysis of charitable funds (group) (continued)

The St David’s House appeal was towards the building of a home for young people with more complex needs.

The Water Therapy Pool fund was established to create a new pool for therapeutic, sporting and recreation purposes.

Topsham Road fund was used to help purchase a property which is used as a supported living house.

Other fixed asset funds comprise donations received to purchase specific equipment which has been capitalised.

Pupil Premium: Additional funding received from local authorities target those students from low income families who need the most in order to raise attainment.

Bursary & grants: Funds received from the ESFA to support young people in College in need of financial support meet additional costs to help them remain in full time education.

Day Services: Funds used for the benefit of young adults attending Adult Day Services now called Jigsaw at InFocus Charity.

Activities for young people: To fund interactive activities for students and young adults at InFocus Charity.

Supporting Independence: Funds used to provide equipment and opportunities in all areas of InFocus Charity to help enable the engagement and independence of students and young adults in daily activities.

Site Development: Funds used for the improvement and renovations of the InFocus Charity site for the benefit of the students and young adults.

Vehicle & Transport: To fund the requirement for vehicles at InFocus Charity used for the mobility of students and young adults so they can access activities off-site.

Family Fund: Used to support families with one-off incidental expenditure outside the scope of Local Authority and bursary funding.

Research: Restricted funds used for specific research projects at InFocus Charity specifically around visual impairment and multi-sensory disability. Examples have been the Comic Relief funding of the development of the Eyelander Game.

Talking Tills (EPOS/Till System): Funds used to create a specialised talking till system for people with vision impairment.

ESFA/DFC/SCA: Annual grants and/or bursaries received from the Department for Education, ESFA or SCA to help maintain and improve the condition of education buildings and grounds.

Access to work: Monies received to support individuals in the workplace and those requiring reasonable adjustments.

Student Equipment: Money received from LAs as part of a services user’s package designated for specific specialist equipment.

Notes: Expenditure for general and restricted funds includes the net realised and unrealised gains/(losses) on investments. Transfers include Capital Items and Adjustments.

InFocus Charity Annual Report 2022/23

22. Analysis of net assets between funds (group)

Unrestricted Restricted Total funds
funds funds 2023
£ £ £
Tangible fxed assets 5,006,219 1,226,163 6,232,382
Investments 1,204,917 - 1,204,917
Investment properties 515,000 - 515,000
Current assets 2,486,295 168,652 2,654,947
Creditors less than 1 year (1,150,672) - (1,150,672)
─────── ─────── ───────
Net assets 8,061,759 1,394,815 9,456,574
═══════ ═══════ ═══════

Free reserves are calculated as follows;

ree reserves are calculated as follows;
Free reserves
2023
£
Total unrestricted funds 8,061,759
Less unrestricted tangible fxed assets (5,006,219)
───────
Free Reserves 3,055,540

Free Reserves

═══════

23. Prior year restricted funds note and analysis of net assets between funds

At 1 Income Expenditure Transfers At 31
September August
2021 2022
Restricted fxed asset £ £ £ £
funds
St David's House Appeal 410,375 - (71,115) 476,336 815,596
Water Therapy Pool 316,983 - (24,801) 6 292,188
Topsham Road 9,910 - (10,856) 216,259 215,313
Other 143,788 - (973) (132,004) 10,811
─────── ─────── ─────── ─────── ───────
Total 881,056 - (107,745) 560,597 1,333,908
Restricted general funds
Day services 3,560 120 - 3,680
Site development 29,107 9,679 (26,299) (11,460) 1,027
Activities for young people 74,669 3,335 (4,025) (5,002) 68,977
Supporting independence 36,698 6,500 (2,636) (7,501) 33,061
Vehicle & transport 28 - - - 28
Family fund 520 - - - 520
Research 8,787 - - - 8,787
Miscellaneous 7,955 19,800 (18,245) 28,060 37,570
Grants
Pupil premium 8,915 1,665 (6,517) 555 4,618
Bursaries and grants 8,958 1,179 (1,850) 22,684 30,971
ESFA/DFC 45,482 32,553 - (27,335) 50,700
Access to work 6,624 419 (720) 2,759 9,082
Student purchases 3,307 27,979 (10,098) (2,760) 18,428
Talking tills 76 - - - 76
─────── ─────── ─────── ─────── ───────
Total 234,686 103,229 (70,390) - 267,525
─────── ─────── ─────── ─────── ───────
Total restricted funds 1,115,742 103,229 (178,135) 560,597 1,601,433
Designated funds – 200,000 - - - 200,000
contingency
Designated funds – site 500,000 - - - 500,000
improvement
General unrestricted funds 7,441,094 8,231,720 (7,823,294) (560,597) 7,288,923
─────── ─────── ─────── ─────── ───────
Total unrestricted funds 8,141,094 8,231,720 (7,823,294) (560,597) 7,988,923
─────── ─────── ─────── ─────── ───────
Total funds 9,256,836 8,334,949 (8,001,429) - 9,590,356

InFocus Charity Annual Report 2022/23

24. Prior year restricted funds note and analysis of net assets between funds (continued)

Notes: Income for general and restricted funds includes the net unrealised gain on investments. Transfers include Capital Items and Adjustments

Notes:Income for general and restricted f
nclude Capital Items and Adjustments		 unds includes the net unrealised gain on invest ments. Transfe
Unrestricted Restricted Total funds
funds funds 2022
£ £ £
Tangible fxed assets 4,957,394 1,333,908 6,291,302
Investments 1,229,929 - 1,229,929
Investment properties 515,000 - 515,000
Current assets 1,915,210 272,609 2,187,819
Creditors less than 1 year (628,610) (5,084) (633,694)
─────── ─────── ───────
Net assets 7,988,923 1,601,433 9,590,356
═══════ ═══════ ═══════

24. Operating lease commitments (Group)

The total future minimum lease payments under non-cancellable operating leases are as follows:

2023 2022
£ £
Not later than 1 year 78,825 75,868
Later than 1 year and not later than 5 years 213,211 110,562
Later than 5 years 19,685 13,118
─────── ───────
311,721 199,548
═══════ ═══════

Operating leases - lessor (Group)

The total future minimum lease receipts under non-cancellable operating leases are as follows:

2023 2022
£ £
Not later than 1 year 90,860 82,178
Later than 1 year and not later than 5 years 78,224 317,337
Later than 5 years - 59,629
─────── ───────
169,084 459,144
═══════ ═══════

25. Analysis of changes in net debt (Group)

25. Analysis of changes in net debt (Group)
At 1 Sept Cash fow At 31 Aug
2022 2023
£ £ £
Cash at bank and on hand 1,795,672 (121,568) 1,674,104
─────── ─────── ───────
1,795,672 (121,568) 1,674,104
═══════ ═══════ ═══════
26. Financial instruments
Categorisation of fnancial instruments
2023 2022
£ £
Financial assets:
Measured at fair value 1,204,917 1,229,929
═══════ ═══════

26. Financial instruments

27. Pensions and other post-retirement benefits

The Charity’s employees belong to three principal pension schemes: the Teachers’ Pension Scheme England and Wales (TPS) for academic and related staff; the InFocus Charity pension scheme with Aviva (previously Friends Life) which is closed to new entrants and a NEST Pension Scheme.

Contributions amounting to £39,922 (2022 - £31,384) were payable to the schemes at 31 August and are included within creditors. The amounts recognised in income or expenditure as an expense in relation to defined contribution plans was £278,757 (2022: £228,093).

Teachers' Pension Scheme

The Teachers' Pension Scheme (TPS) is a statutory, contributory, defined benefit scheme, governed by the Teachers’ Pension Scheme Regulations (2010) and, from 1 April 2014, by the Teachers’ Pension Scheme Regulations 2014. Membership is automatic for full-time teachers and, from 1 January 2007, automatic for teachers in parttime employment following appointment or a change of contract, although they are able to opt out.

The TPS is an unfunded scheme and members contribute on a ‘pay as you go’ basis - these contributions along with those made by employers are credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

Valuation of the Teachers' Pension Scheme

Not less than every four years the Government Actuary, using normal actuarial principles, conducts a formal actuarial review of the TPS in accordance with the Public Service Pensions (Valuations and Employer Cost Cap) Directions 2014 published by HM Treasury. The aim of the review is to specify the level of future contributions. Actuarial scheme valuations are dependent on assumptions about the value of future costs, design of benefits and many other factors.

The latest actuarial valuation of the TPS was carried out as at 31 March 2020 and in accordance with the Public Service Pensions (Valuations and Employer Cost Cap) Directions 2014. The valuation report was published by the Department for Education on 26 October 2023.

InFocus Charity Annual Report 2022/23

27. Pensions and other post-retirement benefits (continued)

The key elements of the valuation and subsequent consultation are:

Rates of pension increases 0.0% - 4.1%
Rates of CARE revaluation 1.6% - 5.7%
Rates of salary increases 1.6% - 3.8%

Under the definitions set out in Financial Reporting Standard 102 (FRS 102), the TPS is a multi-employer pension scheme. The School has accounted for its contributions to the scheme as if it were a defined contribution scheme. The School has set out above the information available on the scheme.