Kent Association for the Blind (A Company Limited by Guarantee) Report & Financial Statements Year ended 31 March 2024 Charity Number 1062354 Company Number 03339912 www.kab.org.uk Kent Association for the Blind Supporting sight impaired people to live independent lives
Kent Association for the Blind Trustees. Annual Report for the year ended 31 March 2024 The Trustees present their annual report together with the financial statements and auditor's report of the charitable company for the year ended 31 March 2024, which are also prepared to meet the requirements for a directors, report and accounts for Companies Act purposes. The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the 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 published in October 2019. Our Objectlves and Activities The aim of Kent Association for the Blind (KAB) is to support sight-impaired people to live independent lives. We believe that anyone who has a visual impairment should be able to live a fulfilled, healthy and safe life, exercise self-determination and make informed choices, and achieve their own personal goals. In our Articles of A550ciation our purpose is described as the "relief of blind and partially sighted persons and the prevention of sight 1055 and blindness" primarily in Kent, Medway and the London Boroughs of Bromley and Bexley. We fulfil our purpose by providing a comprehensive habilitation and support service to sight impaired people, and by raising awareness of eye health and the impact of sight 1055. 2023-24 marked Year 3 of our role as Lead Provider of a Sensory Wellbeing contract for adults, commissioned by KCC. Under this contract we deliver services directlyi as well as sub-contracting provision for Deaf people to two Socal hearing loss organisations. We are pleased to note that due to our strong performance during the initial term of the contract, in January 2024 we received confirmation that the contract would be extended for the first of two discretionary single year extensions. This report describes the work we do, looks at what we have achieved over the last 12 months, and highlights some of our future plans. In reviewing outcomes and planning for the future, KAB'S Trustees refer to Charity Commission guidance and ensure that the Charity's activities fulfil both the Commission's public benefit criteria and KAB'S charitable objectives. KAB'S Clients and Services KAB offers help to anyone who is sight impaired: people of any age and at any stage of their sight loss journey. We have over 12,500 visually impaired clients, and for every one of them, poor sight impacts their daily lives. To reduce the impact of sight loss, we provide practical training, advice, support and equipment, and we also support families, carers, schools and employers. Our operational area is large, and covers both urban and rural areas. seICe5 are dellvered from three Sight Centres in Maidstone, Canterbury and Bromley, and a further office base in Medway although this is currently closed due to a health and safety structural issue. Our Counselling, Eye Clinic Liaison Officer (ECLO) and One-to-one support services are available to people across South-East London and we operate two social groups in the London borough of Bexley. The main areas of charitable activity which deliver public benefit are: Rehabilitation Services, including ECLO support Counselling services Assistive Technology training and advice One-to-one Support Services for blind and deafblind clients Transcription Services Social and Leisu groups Eye health and prevention advlce Training for Professionals Occasional short term developmental and pilot projects Volunteer opportunities and placements
Kent Association for the Blind Trustees, Annual Report for the year ended 31 March 2024 (continued) KAB is committed to collaborative working and is active within the sight loss sector to ensure best practice is shared, and effort Isn't duplicated. Over the last year we have contributed to and benefited from our membership of Visionary (the umbrella body for local associations), this included our CEO continuing in the Chair's role within the London & South East Region CEO network and the Chair of Trustees continuing as a member of the visually impaired Chair and CEO group. The Chair of Trustees is also a part of the Visionary Group. The backbone of rehabilitation - or'rehab, is practical training that helps people learn new skills to manage daily tasks at home and in the community. Following a successful tender process, we are pleased to have been awarded a new contract from Nedway Council to provide habilitation and rehabilitation to sight impaired children and adults, from 1st January 2024. This new contract sees us continue our partnership with the providers commissioned as part of the Medway Better Together Consortium - Carers First, Medway Voluntary Action and EK360 (providers of Healthwatch). The collaborative focuses of the Consortium are communications, engagement, training and funding. We also continue to provide services under contract to Kent County Council and the London Borough of Bromley. One-to-one Support Serv•ces We run three similar services that provide one-to-one support in the community, enabling clients to maximise their independence- The Guide Communicator (GC) Service, which supports people with dual sensory impairment, also known as deafblindness. The Sight Support Service, which supports people who have sight loss. The Intervenor Service, which supports congenitally deafblind people who also have a learning disability or other complex needs. One-to-one Support is charged at an hourly rate, and is financed either by statutory social care (including care managed budgets, Direct Payments or client-controlled Personal Budgets), by clients themselves, or by a combination of sources. The service is flexible, and clients receive as much or as little input as they need on a regular basi5. Call-off contracts are in place with Bromley Council and KCC, and the service also operates in Medway. The Transcription Service produces accessible materials in audio, Braille, digital formats and large print, which is of huge benefit to the Charity's clients, visually impaired volunteers, Trustees and staff. We also provide small scale transcription for external bodies such as Councils and GPS, and continue to see a slight increase in uptake due to the Accessible Information Standard, introduced in summer 2016, which requires all publicly funded health and social care providers to record and provide information in clients, preferred formats. Awareness training KAB is an approved Open College Network (OCN) provider, and we deliver accredited courses in Understanding Visual Impairment, Understanding Deafblindness, Understanding Hearing Impairment, and Understanding Assistive Technology. We use these to train both our own staff and external learners who want to gain a better understanding of the issues surrounding sensory impairment. We also deliver non-accredited short courses tall0d to the needs of different learners; these are adapted from approved course content, so quality is consistently high. Following the pandemic, we have now returned to delivering the majority of courses in person, which is best suited to the practical and interactive nature of the learning.
Kent Association for the Blind Trustees, Annual Report for the year ended 31 March 2024 (continued) However, online training can still be provided upon request. The trend for bespoke courses in preference to accredited training has continued this year. Clubs, Groups and Cllent Support During this year, 33 KAB social groups have been in operation across Kent, Medway, Bromley and Bexley. These include art and craft sessions, groups who meet for coffee/lunch, clubs who meet for talks/entertainment and groups who go on outings. Each club is supported by dedicated volunteers who arrange activities and entertainment, act as drivers and escorts, and help to raise funds. For Some members, this may be the only face-to-face social contact of the week, so the clubs also act as something of a 'safety net, for some elderly and vulnerable visually impaired people, with volunteers ensurlng that KAB is called in if someone needs help. KAB provides financial support to Clubs via an annual grants programme, and also by meeting volunteer5. expenses and providing insurance cover. The Charity also provides non-financial support such as recruiting and training volunteers, carrying out Disclosure and Barring Service checks, and helping with publicity. Our staff visit at least every slx months to offer advice and support to both members and volunteers. All KAB Clubs sign up to a Handbook, which aims to ensure they operate safely and fairly and that members, needs are met a5 well as possible. We also run more focused sessions to connect clients with shared needs e.g. Glaucoma Support groups. We are proud to have an established Advisory Council of service users and volunteers which acts as a consultative group, providing advice to the Senior Management Team and Board of Trustee5 on topics such as branding, policy, service development and local issues under consultation. Counselling We continue to offer face to face counselling from our centres, alongslde telephone counselling with the latter accounting for approximately 75-80010 of provision. Referrals to the Service during the year were 176 - consistent with the previous financial year (171). The number of counselling hours was 1391, with interventions being tailored to the needs of the individual. We continue to develop the service, with the team currently working towards becoming a trauma informed provider. We are very pleased to have secured multi-year funding from City Bridge Trust, which will support our counselling work in south-east London over a 3 year period. We a delighted to have published an Impact report to highlight the outcomes achieved by our counselling clients, which can be read here htt .kab. who-we-are act
Kent Association for the Blind Trustees. Annual Report for the year ended 31 March 2024 (continued) Strategic Report Projects Project income has declined from £119,229 in 2022123 to £91,519 in 2023/24. Irls - Moblle Sight Centre Iris, our community vehicle, has continued to be a key way of increasing our reach and working in partnership. In 23-24, Iris undertook 88 events, a significant increase on the 40 events in the previous year. Across these events, Iris, onboard team conducted 1280 one- to-one consultations with individuals, as well as broader engagement with the general public. Of the 1280 individuals supported, only 130/0 were previously known to KAB meaning Iris is achieving her aim of enabling us to support more people via a local approach. The one-two-one consultations included information about eye health, technology, wellbeing and more - as well as onward referrals to other KAB community seNices for additional support with independent living or specific eye conditions. Iris event locations are diverse, including schools, garden centres, supermarkets, day centres, GP practices and hospitals. We have continued to work in partnership with other charities to increase Iris, impact - including local branches of Age Uk, The Macular Societyi Hi Kent and Blind Veterans. In August 2023, we were delighted to secure a large multi year grant from the National Lottery (Reaching Communities) which will support Iris over a 3 year period, as well as providing some funding towards follow up Assistive Technology support in the community. Financial Review In the year ending March 2024, the Charity's principal funding continued to come from Local Authority Contracts, Grants, Fundraising and Legacies. Income from all areas increased by £114,385 to £2,541,473 for the year ended March 2024 due to an increase in Donations and Legacies. Income was used to meet KAB'S charitable objectives with rehab services being the single largest areas of expenditure at £2,101,789. Total expenditure for the year is £3,001,108 resulting in a deficit of £293,747 after investment gain, compared with a deficit of £869,203 in the previou5 year which was as a result of small legacies and higher staffing costs in 2022123. Fundraising Total Fundraising income increased by £208,554 to £607,235. reflecting largely attributed to a strategy of focusing on Trust and Foundations (T&F) for this financial year. Areas including the London Marathon event and our annual Golf Day event have over-performed, however, there was a decline in Community and Corporate income. This was partially attributable to not having a Fundraising Manager in post and the challenges of the external fundraising climate. Legacy income totalled £224,324. The Trustees are very grateful to the kind supporters who have remembered KAB in their wills and through donations in memory. We value the support of all our corporate partners and look forward to working together over the coming year.
Kent Association for the Blind Trustees. Annual Report for the year ended 31 March 2024 (continued) We continue to gain traction on social media through new follows, with gater engagement from posts about children and younger people. Income through appeals and KAB Connect newsletter have been lower than previous years, due to the cost of living crisis. We continue to seek sponsorship to drive down the publication costs. Unfortunately we were greatly imparted by the cost of living crisis this year and have been unable to raise sufficient funds to ffleet our targets across Community, Events and Individual Fundraising which have been predictably the hardest hit throughout the last financial year as the fundraising landscape continues to evolve. Fundraising expenditure has been closely monitored during the year. Our focus on income staM5 with the greatest return on investment have been critical however the difficulties in recruiting a Fundraising Manager have hindered our business model. A new Fundraising Strategy 15 being developed with support from our experienced Fundraising Trustee and the SMT. We have seen success with our revised strategy for T&F, with income increasing from £80,712 in 22-23 to £220,881 in 23-24. This is the result of significantly increasing the volume of applications we make, while also diversifying the type of applications to include larger and multi-year grants. We have aligned our T&F fundraising with our Services directorate, which has created greater Synergy between service development needs and fundraising objectives. We are delighted to have secured 3 year funding totalling £465,430 from the National Lottery to support our Mobile Sight Centre (Iris) and follow-up Assistive Technology services. We have also been awarded a 3-year grant from City Bridge Trust to support our counselling service in South-East London. Our current priorities for T&F fundraising are counselling, assistive technology support, social groups and befriending. Our main focus is funding our existing services, but we are also applying for innovation funds to trial new initiatives - such as specialist dance based social g roups to benefit the wellbeing of our clients. We are registered with the Fundraising Regulator and we are committed to following their Code of Fundraising Practice so as to ensure that the public, including vulnerable people, are protected from unreasonable or intrusive approaches. KAB carries out all fundraising activities in line with recognised standards. We are also registered as a Data Controller and Data Processor with the Information Commissioner's Office and are compliant with General Data Protection Regulation requirements. Investment Powers and Policy The charity's investment approach for the year was to both grow the real value of investments whilst managing return and risk in the context of uncertain financial markets. and to maximise bank interest from cash held on deposit. The Trustees employ Coutts & Co. investment managers to achieve this aim, using full discretionary powers of investment, but taking a medium to low-risk approach with a clear benchmarked target. Investment income including bank interest increased to £40,046 in 2023124 from £30,889 in 2022123.
Kent Association for the Blind Trustees. Annual Report for the year ended 31 March 2024 (continued) In reviewing the investment policy, the Trustees have considered any ethical restrictions they should apply and are mindful of the need to avoid undermining the credibility of KAB by profiting from, or providing capital to, activities which might be connected to those which are detrimental to eye health. KAB only holds collective investments, and as such is not at risk of i nvesti ng d irectly i n such companies. We also meet regularly with our investment managers and monitor our portfolio to ensure an adequate level of scrutiny of any potential exposure. Reserves Policy KAB'S Trustees consider that holding reserves is an essential part of their duty of governance. The Reserves Policy is reviewed every February to coincide with the budget setting and strategic planning timetable and the review of the Investment Policy and Risk Register. The policy for 2023/24 is to hold reserves of £490,000 (2022123 £490,000) to cover the risks associated with loss of income necessitating winding down some or all of the organisation, loss of key workers, investment risk and the risk of legacy income being below budget, Unrestricted funds at 31 March 2024 totalled £1,063,94412023- £1,050,427). The planned deficit for the financial year 2024125 is £395,801. Trustees recognise that some reserves are required to deliver unfunded services which are intrinsic to KAB'S work. Total funds of the Charity as at 31 March 2024 were £2,778,859 (2023: £3,072,606). The designated funds at 31 March 2024 totalled £1,323,841 (2022.. £1,522,295). Details of these funds are provided in note 18. Funds were designated to cover building maintenance, equipment and Icr maintenance and replacement, and project continuation and éevelopment. In addition, funds designated that are associated with projects namely ECLO, AT, Trai ning, Counsel ling and Transcription all represent the cost of the Services for a period of one year. The maintenance fund represents costs which could be incurred over the course of the next three years and the ICT equipment and replacement represents costs likely to be incurred in the next one to five years. A fixed asset fund represents the value of the fixed assets as these are operating assets and not available for charitable expenditure. Trustees are confident that their approach to reserves will enable them to maintain current work programmes in the year ahead even with the planned deficit budget, and to complete planned work in the event that income streams are adversely affected. The restricted funds at 31 March 2024 totalled £391,074 (2023: £429,557). Details of these funds are provided in note 19. Plans for future Periods The Trustees recognise the need to continue where possible to reduce budget deficits. We have identified our key priority areas such as Trusts and Foundations where we would hope to secure alternative means of funding and help reduce the subsidy from KA8 reserves. This includes exploring new funding streams for our Eye Clinic Liaison Officers (ECLO'S) our Counselling Service and our clubs and social activities. We have an exciting new strategy in place for Iris for 2024125 to enable us to reach more existing and potential service users. We are very grateful to our sponsors and supporters for their continued involvement and we are aiming to further improve our profile county
Kent Association for the Blind Trustees. Annual Report for the year ended 31 March 2024 (continued) wide next year. This continues to be a very exciting venture for KAB with opportunities to increase the services available on Iris. Our partnership with Medway's Voluntary and Community Sector (VCS) Transformation Academy continues. The Transformation Academy has continued to develop and we are piloting providing HR support and DBS checks to small VCS organisations in Medway to help increase our income and may also help KAB to save money with more collaborative working (i.e. joint procurement initiatives). Going concern The Trustees have assessed the operational and financial impact in the Strategic Report on pages 5 and 6. Trustees reviewed potential risks to KAB and Trustees note that KAB remains in a stable position.
Kent Association for the Blind Trustees. Annual Report for the year ended 31 March 2024 (continued) Reference and administrative details Company Number 03339912 Charity Number 1062354 Registered Office 72 College Road Maidstone Kent ME15 6SJ Tel 01622 691357 Our Advisors 8ankers National Westminster Bank plc 2nd Floor County Gate 2 Staceys Street Maidstone Kent ME14 1ST Auditors Azets Audit Services First Floor River House l Maidstone Road Sidcup Kent DA14 5RH Investment Managers CoLJtts & Co Wellington Gate 7-9 Church Road Royal Tunbridge Wells Tunbridge Wells TNI IHT Our Directors and Trustees Honorary Officers Mrs. Hazel Groves Mr. James Burke Chair Honorary Treasurer Other Trustees Mr. Michael Benson Mr. Paul Betts Mr. Anthony Blackman Mr. Anthony Colwell Mrs Jennifer Terry Mr. Leonard Spiller Mr. Luke Cashin Mr. Alan Thorpe Mrs Avril Langman-Heath Mr. Ian Platt Company Secretary Nrs Eithne Rynne Resigned September 2023 Resigned September 2023 Appointed September 2023 Appointecl December 2023 Appointed March 2024 Appointed March 2024 Our Senior Management Team and Key Management Personnel Eithne Rynne Andrea Forsythe Vanessa Stanley Katherine Barr Chief Executive Director of Finance Director of HR Director of Services
Kent Association for the Blind Trustees. Annual Report for the year ended 31 March 2024 (continued) Structure, Governance & Management Legal and Administrative Status KAB is a charitable company limited by guarantee, incorporated on 25 March 1997, and is also a registered Charity. The company is governed under its Articles of Association which were updated in October 2009. Governance The Trustees meet at least quarterly, and each year, one third of the longest serving trustees retire by rotation and are eligible for re-election. The Board can appoint new trustees at any point during the year. Our aim is to have at least a third of the Board representative from our client base. Trustees are recruited via an open process in order to meet identified skills and knowledge gaps, and all new Trustees go through an induction process which includes visits to various areas of the Charity, and opportunlties to shadow staff and undertake training. A Trustee Handbook underpins induction, and sets out the role of the Board, the role of individual Trustees and officers, relationships with staff, guidelines for performance appraisal, a code of conduct and conflict of interests policy. No Trustee receives remuneration or other benefit from their work with the Charity. The only permanent sub-commlttee is the Finance, Risk and Audit Sub-committee, which comprises the Chair, Hon. Treasurer and Vice Chair (or another Trustee if no Vice Chair Was appointed), and is attended by the Chief Executive and Director of Finance. This sub- committee meets before every full Board meeting and reports back to the Board verbally and in writing. Governance information Is available digitally and in audio, Braille or large print for staff and Trustees who have a sensory impairment; KAB also provides Guide Communicators or other support as required at Board meetings and other Trustee events. Oryanisational Structure & Management Day to day responsibility for service provision and ensuring that charitable and strategic aims are met is delegated to the Chief Executive. who is supported by a Senior Management Team. During the year, KAB had on average 100 staff (63.32 full time equivalent) across three office bases. KA6 aims to ensure that it has appropriate procedures in place to ensure staff are able to be fully engaged in all areas of the Charity's work and are given appropriate training, support and guidance to carry out their roles effectively. KAB maintains its Investor In People status and is an accredited Disability Confident Employer. The pay of Key Management Personnel is agreed at board level. Pay scales are agreed based on extensive reviews of the pay rates of similar roles within the comparable charity sector. Management staff progress along pay scales based on length of service and satisfactory performance in the same way as all KAB staff. Throughout this report we mention our wonderful volunteers. Our volunteers generally support rehab services by driving clients to meetings and appointments, delivering equipment, home visiting and befriending, and helping people to read their mail and manage their home affairs. Volunteers help run our clubs, help at events and help us with many of our back room functions like administration and fundraising. We are enormously grateful to them all. io
Kent Association for the Blind Trustees, Annual Report for the year ended 31 March 2024 (continued) Related Parties and Connected Charltles Any connections between a Trustee or senior manager and KAB'S suppliers, funders, or key stakeholders must be disclosed in line with KAB'S Conflict of Interest policy. In the current year no related party transactions were reported. The Charity commits staff time and resources to collaborative working and staff are involved in many strategic groups both nationally and regionallyi all with the ultimate aim of improving the lives of sight impaired people. However, this joint working is informal and KAB has no connected charities. Principal Risks and Uncertainties Potential risks to KAB, our beneficiaries and staff are reviewed regularly and detailed in a Risk Register. Gross risk is measured in terms of likelihood of occurrence and severity of impact, then the controls that we have in place are assessed to produce a retained or'net, risk level. The most significant net risks to the Charity in the current year are inability to deliver service5 due to loss of contracts and tendering risk and data security risk, The risks associated with the cost of livi ng crisis and the impact on our ability to fundraise have also been retained on the Risk Register. Risks to income are being addressed by the focus on developing a new Fundraising Strategy and making changes where needed, the regular monitoring of cash flow, increasing Guide Communicator fee income through requests to KCC, Medway and Bromley Councils and holding adequate cash reserves to cover the medium term shortfall. Contract and tendering risk refers to the potential loss of Local Authority funding, which could pose a major threat to KAB as a whole and potentially to the quality of service received by users. This risk is being addressed in the following ways - ensuring that we have good knowledge of the sector environment and strong relationships with partner agencies; growing the already good bank of data which evidences the quality of current provision. being as involved as possible with commissioning strategy and ensuring costing of services is accurate and up to date. Increased data security risk reflects a marked increase in the demands placed on charities by funders in terms of technical and policy compliance with challenging new Information governance and data management standards. This is being addressed by continual review of the raft of policies in place surrounding data security, ongoing investment in ICT equipment and ensuring staff attend quality training on any changes and update policies accordingly. Risks are monitored and communicated regularly to the Board, and risk management forms an integral part of our strategic planning. statement of Trustees. Responsibilities The Trustees (who are also directors of Kent Association for the Blind for the purposes of company law) are sponSible for preparing the Trustees, Report including the Strategic Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year which give a true and falr view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP; make judgments and estimates that are reasonable and prudent; li
Kent Association for the Blind Trustees. Annual Report for the year ended 31 March 2024 (continued) state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial Statements on the going concern basis unless It Is inappropriate to presume that the charitable company will continue in business. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Disclosure of information to auditors In so far as the Trustees are aware: there is no relevant audit information of which the charitable company's auditor is unaware. and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. A resolution proposing that Azets Audit Services be reappointed as auditor of the charitable company will be put to the members. The Trustees, Report is approved by order of the Board of Trustees and the Strategic Report (included therein) is approved by the Board of Trustees in their capacity as directors in their meeting on 11 September 2024 and signed on its behalf by: Mrs Hazel Groves Chair Registered Office 72 College Road Maidstone Kent ME15 6SJ 12
Kent Association for the Blind Independent Auditors Report to the Members Opinion We have audited the financial statements of Kent Association for the Blind (the 'charitable company,) for the year ended 3 1 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described irs the relevant sections of this report. Other Information The other information comprises the information included in the Trustees Annual Report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility IS to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. 13
Kent Association for the Blind Independent Auditors Report to the Members Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the TrLJStees' Report and the incorporated Strategic Report prepared for the purpose of company law for the financial year for which the financial statements are prepared is consistent with the financial statements; and the Trustees, Report and the incorporated Strategic Report have been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees, Report and the incorporated Strategic Report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or the financial statements are not in agreement with the accounting records and returns; or certain disclosures of trustees, remuneration specified by law are not made. or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Statement of Trustees, responsibilities set out on page 15, the trustees (who are also the directors of the charitable company 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 the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquldate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audlt of the f inancial statements Our objectives are to obtain asOnable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expetted to influence the economic decisions of users taken on the basis of these financial statements. Extent to which the audit was consldered capable of detecting irregularltles, including fraud Irregularities, including fraud, a instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council's website, to detect material misstatements in respect of irregularities, including fraud. 14
Kent Association for the Blind Independent Auditors Report to the Members Extent to which the audlt was consldered capable of detecting irregularities, including fraud (continued) We obtain and update our understanding of the entity, its activities. its control environment, and likely fLJture developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud. In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included: Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, susperted and alleged fraud; Reviewing minutes of meetings of those charged with governance; Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company through enquiry and inspection. Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimate5 for indicators of potential bias. Because of the inherent limitations of an audit, there is a risk that we will not detect all rregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to becoTne aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omi55ions, misrepresentations, or the override of internal control. As part of an audit in accordance with ISAS (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also., Identify and assess the risks of material mi55tatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide ba515 for our opinion. The risk of not detecting a material mi5Statement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit In order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the charitable company's internal control. Evaluate the appropriateness of accounting policies used and the asonab1eness of accounting estimates and related disclosures made by the trustees. 15
Kent Association for the Blind Independent Auditors Report to the Members Extent to which the audit was considered capable of detecting irregularities, including fraud (continued) Conclude on the appropriateness of the trustees. use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable company's ability to continue as a going concern. If we conclude that material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions a based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the charitable company to cease to continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation (ie. gives a true and fair view). We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report This report is made solely to the charitable company's members, as a bodyi in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body* for our audit work, for this report, or for the opinions we have formed. Michelle Wilkes FCA (Partner) For and on behalf of Azets Audit Services Senior Statutory Auditor First Floor River House, l Maid5tone Road Kent DA14 5RH Date: 18 September 2024 16
Kent Association for the Blind Statement of Financial Activities Ilncluding income and expenditure) For the vear ended 31 March 2024 Notes Unrestricted Funds Restricted Funds Totsl 31.03.2024 Unrestricted Funds Restricted Funds Totsl 31.03.2023 Income: Donations and Legacies Charitable Activities Rehabllltation Services One to One Support Services AT Service Talking News and Transcription Training Clubs, Groups and Client Support Projects Other CJRS 408,490 205,743 614,233 298.557 96,366 394.923 3a 406.673 279,994 1,040 2,193 6,098 1,074,000 1,480,673 279,994 1.040 2,193 6.098 416,853 323,643 480 2,014 10,798 1,089,533 1.506,386 323,643 480 2,014 10,798 3b 91,519 91.519 119.229 119,229 Other activities Investments 25,677 40,046 25,677 40,046 38.726 30.889 38,726 30,889 Total Income 1 261 730 1 279 743 2 541 473 1 241 189 1 185 899 2 427 088 Expendlture on: Raising funds Charitable Attivities Rehabilitation Services One to One Support Servi$ AT Service Talklng New5 and Transcription Training Clubs, GroLtP5 and Client Support Projects 159,386 159.386 359,339 359,339 882,229 459.078 117,891 2,761 34,025 10,909 16,603 1.219.560 2,101,789 459.078 166,437 4,591 34,085 59,139 16,603 927,638 473,251 92.480 25,593 36,702 7,666 11.483 1,175,513 2.103,151 473,251 143,733 26,858 36,702 63.355 11,483 48,546 1,830 60 48.230 51,253 1,265 55,689 Total Expenditure 1 682 882 (421, 152) 165 888 1 318 226 (38,483) 3 001 108 (459,635) 165 888 1 934 152 {692,963) 1 283 720 (97,821) 3 217 872 (790,784) Net gainsllosses on investments Net Income/{expenditure) and net movement of funds for the year Total funds brought forward 13 255 264 2,643,049 293 747 3,072,606 771 382 3,414,431 869 203 3,941,809 429,557 527,378 Total funds carrled forward 2 387 785 391 074 2 778 859 2 643 049 429 557 3 072 606 All the above amount relate to contlnulng artlvltles
Kent Association for the Blind Company Number 03339912 Balance Sheet As at 31 March 2024 Notes 31.03.2024 31.03.2023 Fixed Assets Tangible assets Investments 12 945,745 1448 611 992,352 1 504 624 13 Total Fixed Assets 2,394,356 2,496.976 Current Assets stocks 14 12,693 513,273 146 270 12,557 496,559 325 973 Debtors 15 Cash at bank and in hand Total Current Assets 672,236 835.089 Liabilities Creditors falling due within one year Net Current Assets 16 287 733 259 459 384 503 575 630 Total Assets less current Ilabllltles 2.778,859 3.072,606 Total Net Assets 2 778 859 3 072 606 The Funds of the charity: Unrestricted general funds Designated funds Restricted funds 1.063,944 1,323.841 391,074 1,050.427 1,592,622 429,557 18 19 Totsl Charity funds 20 2 778 859 3 072 606 Approved for issue by the Trustees on 11 September 2024 Mrs Hazel Groves - Chair Mr J Burke- Treasurer The notes on pages 20 to 33 form part of these accounts. 18
Kent Association for the Blind statement of Cash Flows For the year ended 31 March 2024 Notes 31.03.2024 31.03.2023 Net cash used in operatlng activities 21 (423,018) {629,360) Cash flows from Investlng activltles Interest received Dividends received Proceeds from sale of investment Purchase of investments Purchase or tangible fixed assets 3,641 36,406 1.290,727 (1,026,520) (18,633) 2,279 28,610 1,001,965 (1,040,474) (44,543) Net cash provided by (used in) investing actlvities 285,621 (52,163) Change in cash and cash equivalents in the year (137,3971 (681.523) Cash and cash equivalents brought forward 335,077 1,016,600 Cash and cash equlvalents carried ft)rward 22 197,680 335,077 19
Kent Association for the Blind Notes to the Financial Statements For the year ended 31 March 2024 (continued) All gains and losses are taken to the Statement of Financial Activities as they arise. Reali5ed gains and losses on investments are calculated as the dlfference between the sales proceeds and their openlng carrying value or their purchase price is acquired subsequent to the flrst day of the financial year. Unrealised gains and losses are calculated as the dIffenCe between the fair value at the year end and thelr carrying value. Realised and unrealised investment gains and losses are combined in the ststement of Financial activities. Operating leases The charity classifies the leases of the Canterbury and Bromley Sight Centres as operating leases. Renta15 payable are charged in a straight line basis over the lease term. Clubs and Groups The income, expenditure, assets and liabilities of all KAB clubs and groups a included within these financial statements. All club funds are treated as $triCted. Stock Stock held comprises two elements= stock assoclated with non-charitable trade and stock provided as part of charitsble activity. Neither stock type is issued for fe and as such all stock Is held at the lower of costs or net reali5able value. Darnaged or obsolete stock is written down as an expense. p) Debtors Trade and other debtors are recognised at the amount due less any provision for bad or doubtful debts. q) Cash at bank and in hand Cash at bank and In hand includes only cash held in instant access bank accounts. Creditors Creditors a wognlsed where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a thir(J party and the amount due to settle the obligation can be measured or estimated lIablY. CdItorS are recognised at their settlement amounts. Pensions Employees of the charity are entitled to join a defined contribution 'money purchase, scheme. The charity contribution is $trIcted to the contributions disclosed in note 7. The costs of the defined contribution scheme are included within the staff costs of the fundraising, charitable activity or support costs as appropriate. These costs are allocated to the unrestricted funds of the charity with the exception of job roles which are funded by restricted funds, namely ECLO and Kent based rehab staff, and in these instances pension costs are allocated to the relevant restricted fund. Where costs are allocated to support costs the costs are charged to the unrestricted funds of the charity using the methodology set out in note 7. Kent Associatlon for the Blind has two defined contributions schemes held with Aegon and The People's Pension. Since April 2014 Staff who were not already members of the Aegon scheme are only able to Join The People's Pension Scheme. The charity has no liability beyond making its contributlons and paying across the deductions for the employees contributions to the relevant scheme. New and existing employees who were not otherwise enrolled in a pension scheme were automatically enrolled into the People's Pension Scheme Whe their earnings met the auto enrolment criteria unless they had exercised their right to opt out of the scheme membership. Employees enrolled in both schemes contract directly wlth the companies concerned. The charity makes a matching contribution of up to 6% of salary to these pension schemes and acts as an agent collecting and paying over employee pension contributions. t) Taxatlon The charity 15 an exempt charity wlthin the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph I Schedule 6 Finance Art 2010 and therefore it meets the definition of a charitable company for UK corporntion tax purposes. Management estimates and judgements Accounting estimates and Judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Foundation makes estimates and assufflptions Conrning the future. The resulting accounting estimate5 and assumptions wlll, by definition, seldom equal the 22
Kent Association for the Blind Notes to the Financial Statements For the year ended 31 March 2024 (continued) related actual results. The estimates and assufflption5 that have a significant risk of causing a material adjustment to the carrying amounts of assets and IabilItIeS within the next financial year are discussed below. Useful economlc lives of tangible assets The annual depreciation charye for tangible assets is sensitive to changes in the estimated useful economic Ilves and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement. future Investments, economic utilisation and the physical condition of the assets. See note 12 for the carrying amount of the property plant and eqtsipment, and note Its") for the useful economic Ilves for each class of assets. 2. Donations and Legacles Total 31.03.2024 Total 31.03.2023 Donations Grant income from Trusts and Foundations Legacies Club Donations 144,524 220,881 224.324 24,504 192,884 80,712 93,179 28,148 £614 233 £394 923 Of the total donations and legacies for the year ended 31 March 2024 £205.743 (2023 £96,366) is attributable to restricted funds and £408,490 (2023 £298,557) is added to unrestricted funds. Of the total grants from Trust and Foundations, there We funders which donated over ÉIO,000 as follows- Lols Cumbers Charitable Foundation, National Lottery and Vision Foundation. 3. Income from Charitable Activities 3a. Rehabilitation Services Total 31.03.2024 Total 31.03.2023 Local Authority Grants from,. Kent County Council Medway Council London Borough of Bmmley London Borough of Bexley 1.155,000 153,242 148,000 1.170.533 147,907 148,000 £1 473 752 £1 483 440 Equipment Income 6,921 22.946 Total £ 1480673 £1 506386 Of the total income for rehabllltatlon services for the year ended 31 March 2024 £1.074,000 (2023 £1,089,533) Is attributable to restricted funds and £406,673 12023 £416,853) is added to unrestricted fund5. 23
Kent A5SQClation for the Blind Note5 to the Financial Statements For the year ended 31 March 2024 (continued) 3b. Tralnlng Total 31.03.2024 Total 31.03.2023 Short Courses 6,098 10,798 Total £ 10798 All income associated with Training in 2024 and 2023 is unrestricted. 3c. Projects Total 31.03.2024 Total 31.03.2023 Other 91,519 119.229 Total £91 519 £119 229 Of the total income for projects for the year ended 31 March 2024 £nil {2023 nil) is attributable to restricted funds and £91,519 (2023 £119,229) is added to unrestricted funds. 4. Income from investn*nts Total Total 31.03.2023 31.03.2024 Income from listed investrnents Intest on cash deposits 36,405 3,641 28.610 2,279 £ 40046 £ 30889 All income associated with investments in 2024 and 2023 is unrestritted. 5. Expendlture on ralslng funds Other Trading Attivities Donations and Legacies Investment costs Total 31.03.2024 Total 31.03.2023 Direct staff Costs Direct Fundraising Costs Builéing and telephone costs Investment management costs Governance Costs (see note 7) Support Costs ( see note 7) 80,899 30,084 7,626 4,258 1,583 85,157 31,667 7,626 8,305 1,321 25,310 214,895 65,904 12,390 8,250 2,708 55,192 8,305 1,202 23,032 119 2,278 £142 843 £ 159 386 £ 359 339 All expenditure on raising funds in unrestricted. 24
Kent Association for the Blind Notes to the Financial Statements For the year ended 31 March 2024 (continued) 6. Expenditure on Charitable activities Dlrect costs Support costs Stsff costs Total Total 31.03.2023 31.03.2024 Cost of raising funds 159 386 359 339 Charltable expendlture Rehabilitation services One to one support Serv1$ AT Service Transcriptlon & Talking News Training Clubs, groups and client support Projects 1.328,666 336,219 114,980 1,025 26,168 418,910 9,140 15,223 2,576 1,977 55,637 354,213 113,719 36,234 990 5,940 3,502 2,101,789 459,078 166,437 4.591 34,085 59,139 2,103,151 473,251 143.733 26,858 36,702 63,355 681 1 807 739 519 385 514 598 2 841 721 2 858 533 1 892 896 551 052 557 160 3 001 108 3 217 872 Induded In dlreci cosls and support costs are ¥t8ff costs of £236,202 {2023.. £238,604> which a allocated above. 7a. Support costs Total 31.03.2024 Total 31.03.2023 CEO'S office Finance HR IT Establishment cost5 including sUprt stsff Insuran Professional fees Governan (note 7b) 95.772 76,744 65,066 48,839 186.202 36,533 20,157 27,847 93.459 75,775 75,063 61,615 191.701 34,678 37,950 26.969 557 160 597 210 7b. Governance costs Total 31.03.2024 Total 31.03.2023 Auditor's remuneration CEO and finance cost5 other 12,000 10,999 4,848 12,000 10,024 4,945 25
Kent Assoclation for the Blind Notes to the Financial Statements For the year ended 31 March 2024 (continued) 8. Net expenditure for the year This is stated after the following Total 31.03.2024 Total 31.03.2023 Depreclation of tangible fixed assets L055 on Dlsposal Audit Fees - Statutory Audit Operating leases 52,959 12,282 12,000 58,518 12.000 Land and Buildings 9. Analysis of staff costs, trustee remuneratlons and expenses, and the cost of key management personnel Total 31.03.2024 Total 31.03.2023 The staff costs were Wages and Salaries Social Security Costs Penslon Cost5 1,882,842 158,358 87,898 1.985,862 164,876 89,313 2 129 098 2 240 051 The total amount of redundancy payments made in the financial year was £3,978 (2023 £5,454). Redundancy payments a set at the statutory minimum amount based on the staff members, age and period of service. Trustees were relmbued expenses during the year of £448 (2023 £30). The nature of the expenses reimbursed were travel expenses in connection wlth attending meetings. The average number of staff during the year was 100 (2023 109). 2024 2023 Part Time Full Time Part Time Full Time Head Office Fundraising Charitsble activities io 32 53 34 54 36 64 42 67 During this year. one employee earned more than £70,000 but not more than £80,000 (2023- one employee earned MO than £60.000 but not more than £70,000). The key management personnel of the charity comprise the trustees, CEO, Director of Finance, Director of HR and Director of Client Services. The employee benefits of key management personnel total £237.092 four staff members {2023'. £295.381 five staff Members). 10. Related Party Transactlons There have been no lated party transactions in the year ended 31 March 2024 (2023 nil) which require disclosure. 26
Kent Association for the Blind Notes to the Financial Statements For the year ended 31 March 2024 (continued) I l. Taxation The charity is an exempt charity wlthln the meaning of schedule 3 of the Charltles Act 2011 and, is considered to pass the tests set out in Paragraph I Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitsble company for UK corporation tax purposes. 12. Tangible Flxed Assets FehOld land and buildings College Road Maidstone Furniture, fittings equipment and com uters Motor Vehicles Totsl Cost As at l April 2023 Additions Disposal As at 31 March 2024 1,306,924 246,629 18,633 120 730 74,162 1,627,715 18,633 120 730 1 525 618 1 306 924 144 532 Depreciation As at l April 2023 Charge for the year Disposal As at 31 March 2024 427,403 16,138 178,295 21,989 108 448 29.664 14,832 635,362 52,959 108 448 579 873 Net Book Value A5 at 31 March 2024 863 383 945 745 As at 31 March 2023 879 521 992 352 The land value included in Freehold land and buildings is £500.000. 13. Flxed Asset Investments Movement in fixed asset listed 5nvestments 31.03.2024 31.03.2023 Market value brought forward at l April 2023 1,504,624 1,562,683 Add: additions to Investments at cost Movement In cash held within investment5 Disp)sals at carrying value Unrealisedlrealised gains and (losses) 1,026,520 1,040,474 42,306 (18,148) (1,290,727) (1,001,966) 165.888 (78,419) Market value as at 31 March 2024 Net cash released from investments in the year was £250,000 (2023 Énil). 1 448 611 1 504 624 27
Kent AsSOClation for the Blind Notes to the Financial Statements For the year ended 31 March 2024 (continued) 13. Fixed Asset Investments Investments at falr value comprlsed: 31.03.2024 31.03.2023 Bonds Equities - overseas Equitie5 UK Equities - Emerging markets Thematic Comrnodities Cash held within the investment portfolio 196,843 586,933 403.858 78,141 95,639 35.787 388,855 505,125 425,521 133,282 42,737 Total 1 448 611 1 504 624 Investments include É 103.777 (2023 £90,423) held on behalf of clubs and branches. Quoted investments are carried at their fair value. The basis of fair value for quoted investments is equivalent to the market value. The charity holds investments for income and capital growth. The charity manage5 investment risk by retaining expert advisors at Coutts bank. Risk is also managed by dlrecting Coutts to operate the investment portfollo uslng a medium risk strategy. The risk of realised losses upon needing to extrart cash at short notice is mltigated by assessing cash flow needs at least 18 months into the futu and holding sufficient cash outside of the portfolio to meet these needs. The following investments represent a significant value of the portfollo: 31.03.2024 31.03.2023 Coutts Actively Managed UK Equity Coutts Actively Managed US Equity Fund Coutts US ESG Insights Equity Fund Coutts UK ESG Ensights Equity Fund Coutts Europe ex UK Equity Index GBP-C- Coutts US and Canada Enhanced Index Equator US Equity Shares Equator UK Equity Fund Shares 97,391 192,062 205,163 277.344 85,561 114,072 128,738 28,395 248,527 244,459 280 798 14. Stock 31,03,2024 31.03.2023 Fundralslng Merchandise Rehab and Low Vision Equiprnent 1,632 2,587 15. Debtors Totsl 31.03.2024 Total 31.03.2023 Trade debtors Prepayments Accrued Income other debtors 133,953 48,499 326,527 140,441 49,804 306,314 513 273 496 559 28
Kent Association for the Blind Notes to the Financial Statements For the year ended 31 March 2024 (continued) 16. Credltors: amounts falling due withln one year Total 31.03.2024 Total 31.03.2023 Trade creditors Accruals Deferred Income Other Taxation and Social Security other creditors 81,071 29.378 131,266 44,929 40,792 46,333 111,815 59,611 908 259 459 287 733 17. Deferred Income Total 31.03.2024 Total 31.03.2023 Balance at l April 2023 Released in the year Deferred in the year Balance at 31 March 2024 111.815 (111,815) 131 266 131 266 13,312 (13,312) 111 815 111 815 Deferred Income of £131,266 relates to income from events and project grants occurring post year-end. 18. Deslgnated funds New designation Designation released Current year Balance at 31.03.2023 Balance at 31.03.2024 Designated Funds Eye Clinic Lialson Offir Fund AT worker Fund Transcription Fund Training services Fund Maintenance Fund Equipment and ICT Fund Mobile Slght Centre Counselling Fixed asset reserve Total 89,711 49,435 13,793 25,831 193,100 73.400 75,000 80.000 992 352 125.000 95,000 io.ooo 27.000 (95,978) (135.235) (5,161) (29,831) (68,800) {25,600) (75,000) {43.569) 118,733 9,200 18,632 23,000 124,300 47,800 36,431 945 745 1 323 841 1 592 622 257 000 525 781 The Trustees feel that roles performed by the Eye Clinic Liaison Officers, AT workers. Mobile Sight Centre staff and the work undertaken by the Transcrlption, Counselling Service and Training services are of vital importance to KAB service users and as such, they have again designated funds (above), to enable servi5 continue In the coming year in the event that insufflclent new external funding is obtained. The maintenance fund will allow KAB to meet the expected building maintenance costs, based on a detailed review of repairs and newa15 needs. The equipment and Icr Fund is based on the expected futu costs of maintaining the charities ICT Infrastructure in an increasingly challenging Information Governance environment. The fixed asset fund relates to funds held in fixed assets, including the freehold land and buildings. that are not available for charitable expenditure. 29
Kent A550ciation for the Blind Notes to the Financial Statements For the year ended 31 March 2024 {continuedl 18. Oesignated funds Prior year New designation Designation released Balance at 31.03.2022 Balance at 31.03.2023 Deslgnated Funds Eye Clinic Liaison Officer Fund AT worker Fund Talking News & Transcription Fund Training services Fund Maintenance Fund Equipment and ICT Fund Mobile Sight Centre Counselling Fixed asset reserve 130,142 77,965 20,017 27,024 193,100 67,720 105.000 70,000 20,000 27.000 (145,431) (98,530) {26.224) (28, 193) 89,711 49,435 13,793 25.831 193,100 73,400 75,000 80,000 992 352 5,680 75,000 80,000 1 006 328 Total 1 522 296 382 680 312 354 1 592 622 19. Restrirted Funds Current year Balance at 31.03.2023 Income Expenditure Balance at 31.03.2024 KCC Adults Grant Trust5, Legacies and donations restricted to AT services Trusts and donations restricted to children's activities Trusts and donations restricted for demonstration equipment Trusts restricted for the Foundation Degree Trusts and donations restricted for talking News Donations restricted for rehabilitation and activities for adults Aiming Highl Mary Kirby Jarrett Legacy ECLO Funding Counselling Covid Funding MSC Clubs and Groups 1,074.000 (1,074,000> 45,765 55,625 (48.546) 52.844 1,523 2,121 (248} 3,396 710 710 60 (60) 1,829 (1,8291 5.874 32,815 56,312 300 (1,810) {6.156) (14.818) (3,000) (30,809) (307) (88,413) 4,364 26,659 41.494 3,000 18,528 12,342 5,233 14,487 252 607 429 557 61 4.926 19,681 236 939 93.607 1 279 743 1 318 226 391 074 30
Kent Association for the Blind Notes to the Financial Statements For the year ended 31 March 2024 (continued) KCC Adults Grant is the grant from KCC for the provislon of adult's rehabilitation services in Kent. We are tremendously grateful for the donations from individual donors, organisations and many trusts that have supported our work this year. Trust funding has been received for AT services. children's activities, the purchase of demonstration equipment, the ongoing provision of Transcription and the support of rehabilitation and leisu activities for adults. Also included within restricted trust donations for AT services are.. grant5 made to pay the salary costs of our AT Worker in Bromley, which were received. from City Bridge Trust and a generous legacy bequest for our general AT servlces. The Jarrett Legacy is a legacy left for the benefit of the Grave5end area. The Alming Highl Mary Kirby fund relate5 to legacy income to be spent in the Sevenoaks area. The ECLO funding is income to be spent within the department from Kent Community Foundation and Tula Trust. Clubs and groups represent the total funds held by the KAB clubs and groups including accrued legacies. The Counselling funds Is to be spent on telephone coun5elling and face to face counselling In the Bromley and Canterbury area. The MSC Fund relates to donatlons restricted for the purchase and use of the Mobile Sight Centre. The grant from the National Lottery Community Fund (RC London and South East Region) is restricted to supp)rt Iri5 (MSC) over a 3 year period, as well as providing some funding tOV4ards follow up Assistive Technology (AT) sUPPOrt in the community. The Grant amount to date is £129,706. The Covid Funding is funding to be spent on personal protective equipment in light of the Covid Pandemic. 19. Restrirted Funds Prior year Balance at 31.03.2022 Income Expenditu Balance at 31.03.2023 KCC Adults Grant Trusts, Legacies and donations restrirted to AT services Trusts and donations restricted to children's attivitie5 Trusts and donations restricted for demonstration equipment Trusts restricted for the Foundatlon Degree Trusts and donations restricted for talking News DonatlOn5 $tricted for rehabilitation and activities for adults Aiming Highl Mary Kirby Jarrett Legacy Counselling Covid Funding MSC Clubs and Groups 1.089,533 (1,089.533) 67,471 29.547 (51,253) 45,765 1,864 (341) 1,523 1,189 (479) 710 60 60 3,094 (1,265) 1,829 8,633 34,181 73,791 14 45,463 13,720 277 898 2,596 {5,355) (1,366) 117,479) (14,257) (40,230) (6,473) 5,874 32,815 56,312 12,342 5,233 14,487 252 607 429 557 26.585 7,240 527 378 1 185 899 1 283 720 31
Kent Association for the Blind Notes to the Financial Statements For the year ended 31 March 2024 (continued) 20. Analysis of net assets between funds Net Current Assets Current year Fixed Assets Investments Total 31.03.2024 Restrirted funds Designated Funds Unrestricted Funds 103,777 378.096 966,738 287.297 391,074 1,323,841 1,063.944 945.745 97,206 945 745 1 448 611 384 503 2 778 859 Prior year Fixed Assets Net Current A55ets Investments Total 31.03.2023 Restritted funds Designated Funds Unrestricted Funds 90,423 600.270 813,931 339,134 429,557 1,592,622 1,050,427 992,352 236,496 992 352 1 504 624 575 630 3 072 606 21. Reconciliation of net movement In funds to net cash flow from operating artivities 31.03.2024 31.03.2023 Net movement in funds Add back depCiatIon charge Deduct interest income shown in investing activities Add back loss on disposal Deduct gains/ add Losses on Investments (Increase)/ Decrease in stocks (Increase)/Decrea5e in debtors Increase / (Decrease) in creditors Net cash used In operating activities (293,7471 52,959 {40,046) 12,282 (165,888) (136) (16,714) (869,201) 58,518 130,889) 78,419 (1,330) 26.444 108 679 423 018 629 360 32
Kent Association for the Blind Notes to the Financial Statements For the year ended 31 March 2024 (continued) 22. Analysls of cash and cash equlvalents 31.03.2024 31.03.2023 Cash at bank and in hand Cash held by Clubs Cash held with Investment managers 65,958 80,312 221.512 104.461 197 680 335 077 The difference in the figure for cash and cash equivalents on cash flow statement and the cash In balance sheet Is due to the Inclusion of cash held within Investment managers. 23. Obligations under operatlng leases The company had futu commitments under non-cancellable operating lease5 a5 follows: Land and Buildings Other 31.03.2024 31.03.2023 31.03.2024 31.03.2023 Total 31.03.2024 31.03.2023 Payments due in less than l year Payments due in 2-5 years 8.667 39,750 1937 2,113 1,937 10,604 39,750 2,113 1,937 33