Kent Association for the Blind (A Company Limited by Guarantee) Report & Financial Statements Year ended 31 March 2025 Charity Number 1062354 Company Number 03339912 www.kab.org.uk Kent Association for the Blind Supporting sight impaired people to live independent lives KAB
Contents l. Trustees. Annual Report..............................Page 3 2. Independent Auditor's Report.. .Page 14 3. Statement of Financial Activities.. .Page 17 4. Balance Sheet............ .Page 19 5. Statement of Cashflow.......... ... .Page 20 6. Notes to the Financial Statements.............Page 21
Kent Association for the Blind Trustees, Annual Report for the year ended 31 March 2025 The Trustees present their annual report together with the flnancial statements and auditor's report of the charitable company for the year ended 3 1 March 2025, which are also prepared to meet the requirements for a directors, report and accounts for Companies Act purposes. The financial statement5 have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the Charlty's governing document, the Charities Act 2011 and Accounting and Reporting by Charities: statement of Recommended Practice appllcable to charities preparing their accounts in accordance with the Financial Reportlng Standard applicable in the UK and Republic of Ireland published in October 2019. Our Objectlves and Activities The alm of Kent Association for the Blind (KAB) is to support sight-impalred people to live Independent lives. We believe that anyone who has a visual impairment should be able to l ive a fulfilled, healthy and safe Ilfe, exercise self-determination and make Informed cholces, and achieve their own personal goals. In our Articles of Association our purpose is descri bed as the "relief of blind and partially slghted persons and the prevention of sight loss and blindness" primarlly In Kent, Medway and the London Boroughs of Bromley and Bexley. We fulfil our purpose by providing a comprehensive rehabilitation and support service to sight impaired people, and by raising awareness of eye health and the impact of sight loss. 2024-25 marked Year 3 of our role as Lead Provider of a Sensory Wellbelng contract for adults, commissioned by Kent County Councll (KCC). Under this contract we deliver services directly, as well as sub-contracting provision for deaf people to two local hearing loss organisatlDns. We are pleased to note that due to our strong performance during the initial term of the contract, in January 2025 we received confirmation that the contract would be extended for the flrst or two discretionary single year extenslons. This report describes the work we do, looks at what we have achieved over the last 12 months, and highlights our future plans. In reviewing outcomes and planning for the future, KAB'S Trustees refer to Charity Commlsslon guidance and ensure that the Charity's activities fulfi I both the Com mlsslon's publlc 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 Ioss journey. We have over 12,500 visually impaired clients, and for every one of them, poor slght 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 15 large, and covers both urban and rural areas. Services are delivered from three Sight Centres in Naidstone, Canterbury and Bromleyt and a further offlce base In Medway. Our Counselling, Eye Clinic Liaison Officer (ECLO) and One-to-one support service5 are available to people across South-East London and we operate two social groups in the London borough of Bexley. The main area5 of charitable actlvity which del iver pu blic benefit are: Rehabilltatlon Servlces, Includ I ng ECLO su pport Counsel Ilng services Assistive Technology training and advice One-to-one Support Services for bli nd and deafblind cl lents Transcriptlon Services Social and Leisure groups Eye health and prevention advlce Training for Professionals Occasional short term deve5opmental and pilot projects Volunteer opportunlties and placements
Kent.Association for the Blind Trustees. Annual Report for the year ended 31 March 2025 (continued) KAB is com mitted 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 membershlp of Visionary (the umbrella body for local associations), thls I ncluded our CEO continuing i n the Chair's role within the London & South East Region CEO network and the Chalr of Trustees continulng as a member of the visually Impaired Chair and CEO group. The Chalr of Trustees is also a part of the Visionary Group. The backbone of rehabllltatlon - or'rehab, is practlcal training that helps people learn new skills to manage daily tasks at home and in the communlty. Following a successful tender process during the latter months of 24-25, we are dellghted to have been awarded a new contract by KCC to dellver habilitation services to sight impaired children, from 1st July 2025. Thls contract will replace existing grant funded provision and represents a n increased financial envelope to reflect the increased costs (primarily staff c05t5) of del ivering thls service. The contract is for 3 years, wh ich will offer KAB greater stability In relatlon to this area of work and opportunities for workforce planning and developrnent. We conti nue to successfully provide existing contracted services as follows Lead Provider for a Sensory Wellbelng contract for Kent Adults (KCC) Rehabilitation and Voluntary Services for Sight Impaired Adult5 (London Borough of Bromley) Habilitation and Rehabllltation Services (all ages) in Nedway (Medway Cou ncil) One-to-one Support Services Our Guide Communicator end Sight Support Servlces are a costed provision that provide regular support to people who are sight or dual Sensory impaired. This is a community based service almed at ena bl ing ind ividuals and enhancl ng their wellbeing. Asslstance Is provided with a varlety of tasks including shopping, managing correspondence and household tasks, attending hospital appointments and accessing soclal and lelsure activities. The service Is fLJ nded either privately by individuals or by Soclal Care as part of an agreed package of support - or sometlmes a comblnation of both. In 2024/5 , The service 5UPPOrted over 70 clients, vla 33 staff 400/0 of cllents had a hearing Impalrment Clients were aged between 16 and 100 years 65D/o of cl lent5 lived alone 52 new referrals into the servlce were received The Transcrl ptlon Service produces accessible materials i n audlo, Bral Ile, digital formats a nd large print, which Is of huge benefit ta the Charity's cl ients, visually im paired volunteers, Trustees and staff. We also provide small Scale transcrlptlon for external bodles such as Counci15 and GPS, however take up has been low thls year and we will need to carry out extenslve marketing to ensu re this setvice is viable.
Kent Association for the Blind Trustees, Annual Report for the year ended 31 March 2025 (continued) Awareness tralnlng KAB is pleased to be hosting a Research Intern (from October 2024 - July 2025) as part of Thomas Pockllngton Trust's'Get Set Progress, programme. This initiative aims to support more sioht-impalred people to access work experience. Our Research Intern is conducting a detailed evaluation of KAB'S Sensory Impalrment Awareness Training, to inform our futu re Tralnlng model. This research Includes consideration of: The training needs of our own staff and volunteers The training needs of the external market Potential development of e-learning packages Alternative options for tralnlng accreditation While this research is undertaken, we continue to deliver a range of bespoke courses, both interna I ly and external ly. Training reciplents Include: KAB staff and vol u nteers, staff worklng In care homes, Local Authority colleagues, medical students and voluntary sector partners. Clubs, Groups and Client Support During thls year, 33 KAB soclal groups have been in operation across Kent, Medway, Bromley and Bexley. These include art and craft sessions, groups who meet for CDffee/lunch, clubs who meet for talks/entertainment and groups who go on outlngs. We are pleased to have supported the Introduction of new groups during this year, including 2 additional art based social groups in Tunbridge Wells and Bromley. Each club is supported by dedicated volunteers who arrange activities and entertainment, act as drivers and escorts, and help ta 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 vul nerable visual ly impai red people, with volu nteers ensuring that KAB Is called in if someone needs help. KAB provides financial support to Clubs via an annual grants programme, and also by meeting volunteers, expenses and provldlng insurance cover. The Charlty also provides non-fi nancial support such as recru iti ng and training volunteers, carrying out Disclosure and Barring Service checks, and helping with pu blicity. Our staff vislt at least every slx months to offer advlce and support to both members and volunteers. All KAB Clubs sign up to 8 Handbook, which aims to ensure they operate safely and fairly and that members, needs are met as well as appropriate. 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 Councll of servlce users and volunteers which acts as a consultatlve group, providlng advice to the Senior Management Team and Board of Trustees on topics such as brandingi policyi servlce development and local Issues under consultatlon. Counselling In March 2025, our Counselllng Servlce was celebrated at Healthwatch Kent and Medway's Recognition Awards. The Team won an award for excellence and Innovation in preventative services. We are also very pmud of our Counselling Team for achieving their goal of becaming a trauma informed Servlce. We continue to offer face to face counselling from our centres, alongside telephone cou nselling with the latter accounting for approximately 700/0 of provision. Fieferrals have rlsen thls year - from an average of 174 over the preceding 2 years, to 212 this year (220/0 increase). The number of counselling hours delivered has also risen, from 1391 in 23-24, to 1402 in 24-25.
Kent Association for the Blind Trustees. Annual Report for the year ended 31 March 2025 (continued) Thanks to grant fundingj we hove successfully piloted two onllne peer groups to support i ndlviduals exltl ng the counsel l ing service. These sesslons were facilitated by a trai ned, sight-impaired KAB Volunteer and feedback from participants was extremely positive: found (the sessions) very helpful to speak to people who are dealing with variou5 stages Df sight loss. To feel like I contributed was very rewarding. do hope that these meetlngs wlll be the first of ma ny to help others wlth sig ht loss and sincerely thank everyone who planned and facilitated them" was unsure when I signed up to join the group (..,) but after meeting everyone, chatting and laughing I realised that this was what I needed. To talk through concerns and the hurdles that we have faced or are Still faclng with our varlous conditions was an amazlng outlet and I hope that my fellow peer group members found the same" "I realised that I am not alone in the fears and anxieties that I face and that the wonderful advice and support that was given to me by the other people within the group with such consideration and kindness was invaluable. It allowed me to make some difficult decisions that I had been struggling to make and gave me the courage to face the PIP Assessment wlth some forearmed knowledge of what the process would entail" Eye Clinic Liaison Officers (ECLO) We continue to provide immediate support within 10 hospltal eye clinics across Kent, Medway and South East London. Durlng the year, we provlded 2953 interventions, Including: Assistance with the process of belng registered as sight impaired/severely sight impaired Emotional support Onward referral to access low vlsion aids Information about eye condition and treatment Signposting to services Withln the communlty Information about dally livlng aids, equipment and technology We recently undertook a survey with clinlclans, to measure the value of ECLOS to their professional roles. We received extremely positive feedback, including.. Over 90Q/) of respondents indicated that the ECLO saves them tirne each week Over 93e/o of respondents agree that ECLOS positively impatt the emotlonal support of patients 'without ECLO the department wlll not run efficiently. The role is now one of the foundatlons that our practice Is dependent on. 'The ECLO is invaluable to my patients as a Ilnk between the cllnic and KAB. It is a huge relief to be able to put patients dlrectly in touch with someone who can offer them real help. Patients are invarlably grateful for the support, 'Excellent targeted and thoughtful help. Makes eye care better and more productive. 'The ECLO consistently goes above and beyond.,..to ensure every patient receives exceptlonal su pport.
Kent Association for the Blind Trustees. Annual Report for the year ended 31 March 2025 (continued) Strategic Report Projects Project income has increased from £91,519 in 2023124 to £92,023 in 2024/25. Iris Mobile Sight Centre Iris, our community vehicle, has continued to be a key way of increasing our reach and worklng In partnership. In 24-25, Irls undertook 78 events. Across these events, Iris, onboard team conducted 1,300 one-to-one consultations with individuals, as well as broader engagement with the general public. Of the 1,300 Individuals supported, only 14¥0 were previously known to KA8- meaning Iris is achieving her aim of enabllno us to support more people via a local approach, The 1-2-1 consultatlons included information about eye health, technology, wellbelng and more as well as onward referra15 to other KAB community services for additional 5UPPOrt with independent Ilvlng or speclflc eye conditions. Ir15 event locations are dlverse, includ i ng schools, garden centres, supermarkets, day centres, GP practices and hospitals. We have continued to work in pa rtnership to increase Iris, reach a nd i mpact-with collaborators includ i ng technology suppliers, local branches of Age UK and local charltles Involve Kent and Hi Kent. Financial Review In the year ending March 2025, the Charlty's principal funding continued to come from Local Authority Contracts, Grants, Fundraising and Legacies. Income from all areas 5ncreased from £2,541,473 in 2023124 to £5,483,599 in 2024125. This increase was due to an increase in Donations and Legacles. Income was used to meet KAB'S charltable objectlves wlth rehab services being the slngle largest areas of expenditure at £2,153,336 (2024: £2,101,789). Total expendlture for the year is £3,037,342 (2024.. £3,00 1,108) resulting in a surplus of £2,456,440 after investment galn, compared with a defscit of £293,747 in the previous year which was as a result of small legacies and higher staffing costs In 2023124. Fundraislng Total Fundraising income increased to £3,562,219 {2024: £607,235) laryely attributed to two large legacies and 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 decllne In Community and Corporate income. This is partially attrlbutable to not having a Fundralslng Nanager in post until October 2024 and the challenges of the external fundraising climate. We value the support of all our corporate partners and look forward to working together over the coming year. Legacy income totalled £3,084,014 (2024: £224,324). The Trustees are very grateful to the kind supporters who have remembered KAB In their wills and through donations in memory. We continue to gain tractlon on soclal media through new follows, wlth greater engagement from posts about children and younger people. Income through appeals and KAB Connect newsletter have been lower than prevlous years, due to the cost of Ilvlng crisis. We continue to seek sponsorship to drlve down the publication costs. Unfortunately, we were greatly impacted by the cost of Ilvlng crisis this year and have been unable to ralse sufflclent funds to meet our targets across Community and Individual Fu nd raisi ng which have been predicta bly the hardest hit throug hout the last financial year as the fundraising landscape continues to evolve.
Kent Association for the Blind Trustees, Annual Report for the year ended 31 March 2025 (continued) Fundraising expenditure ha5 been closely monitored during the year. Our focus on income streams with the greatest return on investment have been critical however the difficulties In recruiting a Fundraising Manager have hlndered our business model. A new Fundralslng Strategy has been developed by the new Fundraising Manager with support from our experienced Fundralslng Trustee and the SMT, We have seen ongo5ng success with our revised strategy for T&F, with income Increasing again from £220,881 in 23-24 to £276,058 in 24-25. This success is the result of maintaining a hlgh level of applications and seeking a range of grant values, Our current priorities for T&F funding are: Counsel ling, A5515tlve Technology, Befrlendi ng, Social group5 and Chlld ren's Activities. We are registered with the Fundraising Fiegulator and we are commltted to following thelr Code of Fund raising Practice 50 as to ensu re that the public, includ i ng vul nerable people, are protected from unreasonable or intrusive approaches. KAB carrles out all fundraising actlvitles in li ne with recognised standards. We are also registered as a Data Controller and Data Processor with the Information Commissioner's Off ice and are compliant wlth General Data Protection Regulatlon 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 achleve this aim, using full discretlonary powers of investment, but taking a medium to low-rlsk approach wlth a clear benchmarked target. Investment income Including bank interest increased to £50,050 In 2024/25 from £40,046 in 2023124. In reviewing the Investment policyi the Trustee5 have considered any ethical restrictions they should apply and are mindful of the need to avoid undermining the crediblllty of KAB by profiting from, or provid ing capltal to, activities which might be con nected to those which are detrimental to eye health. KAB only holds collective investments, and as such is not at risk of investing di rectly In such com pa nies. We 8150 meet regularly with our investment managers and monitor our portfollo to ensure an adequate level of scrutiny of any potential exposure. Reserves Policy KA8's Trustee5 consider that holding reserves Is an essential part of their duty of governance. The Fieserves Pollcy Is reviewed every February to coincide wlth the budget setting and strategic planning timetable and the review of the Investment Pollcy and Risk Register. The pollcy for 2025126 is to hold reserves of £862,000 (2024125 £490,000) to cover the risk5 associated wlth loss of income necessltating winding down some or all of the organlsatlon, loss of key workers, investment rlsk and the risk of legacy income being below budget. Unrestricted funds at 31 March 2025 totalled £1, 186,795 (2024. £1,063,944). The planned deficit for the flnancial year 2024125 is £470,557. Trustees recognise that some reserves are required to deliver unfunded servlces which are i ntrl nslc to KAB'S work, Total funds of the Charity as at 31 March 2025 were £5,235,299 (2024.. £2,778,859). The designated funds at 31 March 2025 totalled £3,506,538 (2024: £1,323,841). Detalls of these funds are provided in note 18.
Kent Association for the Blind Trustees. Annual Report for the year ended 31 March 2025 (continued) Fund5 have been designated to cover building maintenance, equipment and ICT malntenance and replacement, as well as the continuatlon and development of key projects. Specifically, allocations l inked to projects such as ECLO, Assistive Technology (AT), Training, Counselllng, and Transcription ref lect the antici pated cost of these services over a perlod of two to three years. The maintenance fund accounts for costs expected to arlse over the next three years, while the equipment and replacement fund covers anticipated expenses over a one to five-year period. Additionally, there are pla ns to purchase a property i n the Kent area to 5UPPOrt both staff and service users. Future funding will also be required for the Mobile Sight Centre once current funding ceases. A flxed asset f u nd Is In place to reflect the value of operational fixed assets, which are not available for charitable expenditu re. The plan to rebrand the organisation is belng considered to better reflect its current contracts and activlties. Trustees are confident that thelr approach to reserves will enable them to maintain current work programme5 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 fLJnds at 31 March 2025 totalled £541,966 (2024.. £391,074). Details or these fund5 are provided in. note 19. Plans for future periods The Trustees recognlse the need to continue where possible to reduce budget deficlts. We have identified our key priorlty areas such as Trusts and Foundations where we would hope to secure alternative means of fundlng and help reduce the subsidy from KAB reserves. This includes continuing to explore new funding streams for our ECLO'S our Counselling Service and ou r Clubs a nd social actlvlties. We have exciting plans in place for Iris for 2025/26 to enable us to reach more existing and potential Service users. We are very grateful to our sponsors and supporters for their contlnued involvement and we are aimlng to further improve OLJr pmfile county wide next year. This continue5 to be a very exciting venture for KAB with opportunities to Increase the servlces available on Iris. We plan to refresh our Strategic Plan in 2025126 and wlll begin this process In November 2025 wlth a staff conference where our teams can contribute to KAB'S priority setting. Our partnership with Medway's Voluntary and Community Sector (VCS) Transformation Academy contlnues. The Transformation Academy has continued to develop and we have been providlng low level HR support and increased D8S checks to small VCS organlsatlons in Medway to help increase our income. Next year there will be a second tranche of the Academy whlch our Dlrector of Services wlll attend. Going concern The Trustees have assessed the operational and financial impact in the Strategic Fieport on pages 5 and 6. Trustees reviewed potentlal 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 2025 (continued) Reference and administrative details Company Number 03339912 Charity Number 1062354 eg istered Office 72 College Road Maidstone Kent ME15 6SJ Tel 01622 691357 Our Advlsors Bankers National Westminster Bank plc 2nd Floor County Gate 2 Staceys Street Maidstone Kent ME14 1ST Audltors Azets Audlt Services First Floor River House l Maidstone Road Sidcup Kent DA14 5RH Investment Managers Coutts & Co Wellington Gate 7-9 Church Road Royal Tunbridge Wells Tunbrldge Wells TNI IHT Our Dlrectors and Trustees Honorary Officers Mrs. Hazel Groves Mr, James Burke Chalr Honorary Treasurer Other Trustees Mr. Michael Benson Mr. Paul Betts Mr. Anthony Blackman Mr. Anthony Colwell Mr. Luke Cashin Mr. Alan Thorpe Mrs Avril Langman-Heath Mr. Ian Platt Company Secretary Mrs Elthne Rynne Resigned March 2025 Resigned Aprll 2025 Resigned April 2024 Our Senior Management Team and Key Managément Personnel Eithne Rynne Andrea Forsythe Vanessa Stanley Katherine Barr Chief Executlve Director of Finance Director of HR Director of Services io
Kent Association for the Blind Trustees. Annual Report for the year ended 31 March 2025 (continued) structure, Governance & Management Legal and Admlnlstratlve Status KAB is a charitable company limited by guarantee, incorporated on 25 March 1997, and Is also a registered Charlty. The company is governed under its Artlcles of Association which were updated in October 2009. Governance The TNstees meet at least quarterly, and each year, one third Df the longest servlng trustees reti re by rotation and are eligible for re-election. The Board ca n appoint new trustees at any point during the year. Our alm is to have at least 2 third of the Board representative from our client base. Trustees are recruited via an open process in order to meet identified skills and knowledge gap5, and all new Trustees go through an induction process which includes visits to various areas of the Charlty, and opportunlties to shadow staff and undertake training. A Trustee Handbook underpins induction, and sets out the role of the Board, the role of i nd ividua I Trustees and officers, relatlonships with staff, guldellnes for performance appraisal, a code of conduct and conflict of interests pol icy. No Trustee receives remuneration or other beneflt from their work wlth the Charlty. The only permanent sub-committee is the Finance, Risk and Audit Sub-commlttee, which comprises the Chair, Hon. Treasurer and Vice Chair (or another Trustee if no Vice Chair was appolnted), and Is attended by the Chlef 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 digital ly and In aud io, Braille or large prlnt for staff and Trustees who have a sensory impairment. KAB also provides Guide Communicators or other support as required at Board meeting5 and other Trustee events. Organlsatlonal Structure & Management Day to day responsibi lity for service provision and ensuri ng that charitable and strategic aim5 are met is delegated to the Chief Executive, who Is supported by a Senior Management Team. Durlng the year, KAB had on average 99 staff (61.77 full time equivalent) across three office bases, KAB alms to ensure that it has appropriate procedures in place to ensure staff are able to be fully engaged in all areas of the Charlty's work and are given approprlate trainlng, support and guidance to carry out their roles effectively. KAB maintains its Investor In People status and Is an accredited Disability Confldent Employer, The pay of Key Management Personnel is agreed at board level. Pay scales are agreed based on extensive revlews of the pay rates of similar roles within the comparable charlty sector. Management staff progress along pay scales based on length of service and satisfactory performance In the same way as all KAB staff. Throughout thls report we mention our wonderful volunteers. Our volunteers generally support rehab servSces by drlving cllents to meetings and appointments, delivering equipment, hotne visiting and befriending, and helping people to read their mall and manage their home affairs. Volunteers help run our clubs, help at events and help us with many of our back room functlons Ilke adminlstratlon and fundraising. We are enormously g ratefu I to them all. li
Kent Association for the Blind Trustees, Annual Report for the year ended 31 March 2025 (continued) Related Partles and Connected Charities Any connections between a Trustee or senior manager and KAB'S suppliers, funders, or key Stakeholders must be di5c105ed I n 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 strateg ic groups both national ly and reg ionally, al I with the ultirnate aim of improving the lives of sight impaired people. However, this joint worklng is Informal and KAB has no connected charities. Principal Risks and Uncertainties Potential risks to KAB, our beneficlarles and staff are reviewed reg ularly and detailed in a Rlsk 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, rlsk level. The most slgnlflcant net risks to the Charlty I n the cu rrent year are Ina bl lity to deliver services due to loss of contracts and tendering risk and data security risk. The risks associated with the cost of l ivi ng crisis a nd the im pact on our ablllty to fu nd ralse have also been retained on the Rlsk Reglster. Filsks to income are belng addressed by the focus on developing a new Fundraising strategy and making changes where needed, the regular monltoring 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 ferS to the potential loss of Local Authorlty 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 provlsion; being as involved as possible with commlsslon I ng strategy and ensurl ng costlng of services is accurate and up to date. Increased data security risk reflects a marked Increase in the demands placed on charities by funders i n terms of technical and pollcy com pliance with chal lenglng new information governance and data management standards. This is being addressed by contlnual review of the raft of pollcles in place surroundlng data security, ongolng Investment in Icr equipment and ensurlng staff attend quality training on any changes and update policies accordlngly. Risks are monitored and communicated regLslarly to the Board, and rlsk management forms an Integral part of our strateglc planning. statement of Trustees. Responsibilities The Trustees {who are also directors of Kent Assoclatlon for the Blind for the purposes of company law) are responsible for preparlng the Trustees, Report including the Strategic Report and the financial statements in accordance wlth applicable law and United Klngdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial staternents for each financial year which glve a true and fair vlew of the state of affalrs of the charitable company and of the incoming resources and appllcatlon of resources, including the income and expenditure, of the charitable cotnpany for that period. In preparing these flnancial statements, the trustees are required to: select sultable accountlng pollcles and then apply them consistentlyp observe the methods and principles In the Charlties SORP; make judgments and estimates that are reasonable and prudent; 12
Kent Association for the Blind Trustees, Annual Report for the year ended 31 March 2025 (continued) state whether applicable UK accountlng standards have been followed, subject to any material depa rtu res disclosed and explained In the f i nancial statements. prepare the financial statements on the golng concern basis u nless it is Inappropriate to presume that the charltable company wlll continue in business. The Trustees are responsible for keeplng proper accounting records that disclose with reasonable accuracy at any tlme the financial position of the charitable company and enable them to ensure that the financial statement5 comply wlth the Companies Act 2006. They are also responslble for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection Df fraud and other irregularities. The Trustees are responslble for the maintenance and integrity of the corporate and financial i nformation included on the charitable com pany's website. Leg islation in the United Klngdom governing the preparatlon and dlssemination of financial statements may d iffer from leg islatlon in other jurisdictions. Disclosure of informatlon to audltors In so far as the Trustees are aware.. there is no relevant audlt Information of whlch 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 Servlces 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 3 September 2025 and signed on its behalf by: Mrs Hazel Groves Chalr Registered office 72 College Road Maldstone Kent ME15 6SJ 13
Kent Association for the Blind Independent Auditors Report to the Members Opinion We have audited the financial statements of Kent Association for the Bl ind (the 'charitable company,) for the year ended 31 March 2025 which comprise the Statement of Flnanclal Activities, the Balance Sheet, the Cash Flow Statement and the related notes. The flnancial reporti ng framework that has been applied I n their prepa ration is applicable law and United Kingdom Accountlng Standards, including FFiS 102 "The FlnanciaS Reporting Standard applicable In the UK and Republlc of Ireland" {Unlted Kingdom Generally Accepted Accounting Practlce). In our opinion the financlal statements: give a true and fair view of the state of the charitable company's affairs as at 3 1 Ma rch 2025 and of its incoming resource5 and appl ication of re50u rces, includ i ng 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 responsibi l itie5 under those standards are fu rther descrlbed in the Audltor's responsi bll Itles for the audit of the financial statements section of ou r report. We are independent of the charitable company in accordance wlth the ethlcal requirements that are relevant to ou r audit of the fi nancial statements in the UK, i nclud ing the FRC'S Ethlcal Sta ndard, and we have fulfil led our other ethical responsi bilities in accordance with these requirements. We believe that the audlt evidence we have obtained is sufficlent and appropriate to provlde a basis for our oplnlon, Conclusions relating to going concern fn auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounti ng i n the preparation of the fina ncial statements Is approprlate. Based on the work we have performed, we have not identified any material uncertainties relati ng to events or conditions that, i nd ividually or collectively[ may cast sig nificant doubt on the charltable company's ability to contlnue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Ou r responsibilities and the responsi bilities of the trustees with respect to goi ng concern a re descri bed in the relevant sections of this report. Other informatlon The other information comprises the information included in the Trustees Annual Report, other than the financial statements and our audltor'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 Dtherwlse expllcltly stated in our report, we do not express any form of assurance concluslon thereon. Our responsiblllty Is to read the other i nformation and, in dolng so, consider whether the other information is materlal ly inconsistent wlth the flnancial statements or our knowledge obtained In the course of the audit or othenNise appears to be material ly misstated. If we Identify such material i nconsistencles or apparent material mi5Statements, we are required to determlne whether thls glves rise to a material mlsstatement in the flnanclal statements themselves. If, based on the work we have performed, we conclude that there Is a material misstatement of thls other Information, we are required to report that fact. We have nothing to report In this regard. 14
Kent Association for the Blind Independent Auditors Report to the Members Opinlons on other matters prescrlbed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the Trustees, Report and the incorporated Strategic Report prepared for the purpose of company law for the financial year for which the financial staternents are prepared Is consistent with the financial statements; and the Trustees, Report and the incorporated Strategic Fieport have been prepared in accordance with applicable legal requ i rements. 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 aLJdit, we have not identified material misstatements in the Trustees, Fieport and the incorporated Strategic Report. We have nothing to report in respect of the followlng 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 accountlng records and returns. or certain disclosures of trustees, remuneration specified by law are not made. or we have not recelved a I I the Information and expla nations we requi re for our aud it. 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 charltable company for the purposes of company law) are responslble for the preparation of the financial statements and for being 5at15Fied that they g ive a true and fair view, and for such internal control as the trustees determlne is necessary to enable the preparation of financlal statements that are free from material misstatement, whether due to fraud or error. In preparlng the financial statements, the trustees a re responsible for assessing the charitable compa ny's abil ity to continue as a going concern, disclosingi a5 appl icable, matters related to going concern and using the golng concern basis of accountlng unless the trustees elther Intend to l iquidate the charltable company or to cease operations, or have no realistic alternative but to do so. AudTtor's responslbllitles for the audit of the flnancial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free frorn materSal mlsstatement, whether due to fraud or error, and to Issue an auditor's report that includes our opinion. Fieasonable assurance 15 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, ind Ividually or in the aggregate, they could reasonably be expected to Influence the economlc declsions of users taken on the basls of these f I nancial statements. Extent to which the audit was considered capable of detectlng irregularities, includlng fraud Irregularities, including fraud, are instances of non-com pliance with laws and regulatlons, We design procedures in line with ou r responsibillties, outl i ned above and on the Fina ncial Reporting Council's website, to detect material misstatements In respect of i rregularltles, includi ng fraud. 15
Kent Association for the Blind Independent Auditors Report to the Members Extent to which the audit was considered capable of detecting Irregularitles, Including fraud (continued) We obtai n and update ou r understandlng of the entity, its actlvlties, its control environment, and l i kely future developments, including in relation to the legal and reg u latory 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 obtal n audlt evldence that is 5ufflclent and appropriate to provide a basis for our oplnion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, includlng fraud. In response to the risk of irregularlties and non-compliance with law5 and regulatlons, Includlng fraud, we designed procedures which included: Enquiry of management and those charoed with governance around actual and potentlal litigation and cla irns as well as attual, suspected a nd alleged fraud; Reviewing minutes of meetings of those charged with governance. Assesslng the extent of compliance with the law5 and regulations considered to have a direct tnaterial effect on the financial statements or the operations of the company through enqulry and inspectlon. Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; Performing audit work aver the rlsk of management bias and override of controls, includi ng testing of jou rnal entries and other adjustments for approprlateness, eva luatlng the business rationale of significant transactlons outside the normal course of business and reviewing accounting estimates for indicators of potential bias. Because of the inherent limitations of an audit, there is a risk that we will not detect all i rreg u larities, including those leading to a materlal misstatement i n the f i nancial statements or non-compliance wlth regulatlon. Thls risk increases the more that compliance with a law or regulation is removed from the events and tran5action5 reflected In the financlal statements, as we will be less Ilkely to become 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 colluslon, forgery, intention81 omissions, misrepresentations, or the overrlde of internal control. As part of an audlt In accordance wlth ISAS (UK), we exercise professlonal judgment and maintain professional scepticism throughout the audit. We also: Identlfy and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responslve to those risks, and obtaln audit evldence that is sufficlent and appropriate to provide a basis for ou r opinion, The rlsk of not detectlng a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may Involve coll uslon, forgery, Intentiona l omisslons, m i5representatlons, or the override of internal control. Obtain an understand i ng of internal control relevant to the audit in order to design audit procedures that are appropriate in the clrcumstances, but not for the purpose of expressing an opinion on the effectlveness of the charltable company's internal control. Evaluate the appropriateness of accountlng policies used and the reasonableness of accountlng estlmates and related disclosures made by the trustees. 16
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 a 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 are 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, includ ing the disclosu re5, and whether the financial statements represent the underlying transactions and events i n 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 finding5, including any significant deficiencie5 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 Maidstone Road Kent DA14 5RH 8 September 2025 Date: 17
l<ont A55ociation for the Blind Statement of Flnanclal Actlvitles Ilncluding income and expenditure) For the vear ended 31 March 2025 Notes Unreslrlcted Funds Restritted Funds Total 31,03.2025 Unrestrlcted Funds Restrlcted Funds Total 31,03,2024 Income: Donatlons and Legacles Charitable Artlvltles Rehabllltation Servlces One to One Support Serwices AT Service Talking News and Transcrlptlon Training Projects Other activities Investments 3,163,145 399,074 3,562,219 408,490 205,743 614,233 3a 420,248 263,064 1,319 1,697 2,267 92,023 32,712 50,050 1,058,000 1,478,248 263,064 1,319 1,697 2,267 92,023 32,712 50,050 406,673 279,994 1,040 2,193 6,098 91,519 25,677 40,046 1,074,000 1,480,673 279,994 1,040 2,193 6,098 91,519 25,677 40,046 3b 3c Total Income 4 026 525 1 457 074 5 483 599 1261 730 1 279 743 2 541473 Expenditure on: Raislng funds Charitable Actlvltles Rehabilitation Services One to One Support Servlces AT Servlce Talking News and Transcrlptlon Training Clubs, Groups and Cllent Support Projects 176,017 176,017 159,386 159,386 962,529 464,341 91,150 1,790 6,592 11,347 17,394 1,190,807 2,153,336 464,341 169,978 1,790 6,592 47,894 17,394 882,22g 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 78,828 48,546 1,830 60 48,230 36,547 Total ExpÉndltur@ 1 731 165 2,295,365 1306 182 150,892 3 037 342 2,446,257 1 682 882 (421, 152) 165 888 1 318 226 (38,483) 3 001 108 (459,6351 165 888 Net galnsllosses on investments Net Income/(expendlture) and net movement of funds for the year Total funds brought forward 13 2 305 548 2,387,785 150 892 391,074 2 456 440 2,778,859 255 264 2,643,049 293 747 3,072,606 429,557 Total funds carrled forward 4 693 333 541 966 5 235 299 2,387 785 391 074 2 778 859 All the above amount relate to contlnulng artlvltles All recognlsed galns and losseg are Included In the Statement of Financial Activities
Kent Assoclation for the Blind Company Number 03339912 Balance Sheet As at 31 March 2025 Notes 31.03.2025 31.03.2024 Fixed Assets Tangible assets Investments 12 900,007 1 232 982 945,745 1 448 611 13 Total Fixed Assets 2,132,989 2,394,356 Current Assets stock5 Debtors 14 14,592 1,486,092 1 876 817 12,693 513,273 146 270 15 Cash at bank and in hand Total Current Assets 3,377,501 672,236 Liabilitles Credltors falllng due wlthln one year Net Current Assets 16 275 191 287 733 3 102 310 384 503 Total Net A55ets 5 235 299 2 778 859 The Funds of the charity: Unrestricted general f unds Deslgnated funds Restricted funds 1,186,795 3,506,538 541,966 1,063,944 1,323,841 391,074 18 19 Total charity funds 20 5 235 299 2 778 859 Approved for issue by the Trustees on 3 September 2025 Mrs Hazel Groves - Chalr Mr J Burke- Treasurer The notes on pages 21 to 34 form part of these accounts. 19
Kent A55ociation for the Bllnd statement of Cash Flows For the year ended 31 March 2Q25 Notes 31.03.2025 31.03.2024 Net cash used in operatlng activities 21 1,457,590 (423,018) Cash f lows from Investlng actlvltles Interest recelved Dlvldends received Pmceeds from sale of Investment Purchase of investments Purchase of tangible fixed assets 31,757 18,293 1,063,709 (875,608) (2,906) 3,641 36,406 1,290,727 11,026,520) (18,633) Net cash provlded by (used In) investlng a¢tlvltles 235,245 285,621 Change In cash and cash equlvalents in the year 1,692,835 (137,397) Cash and cash equlvalents brought forward 197,680 335,077 Cash and cash equivalents carried forward 22 1,890,515 197,680 20
Kent Associatlon for the Blind Notes to the Financial Statements For the year ended 31 March 2025 Accountlng Policies The principal accounting pollcies adopted, judgements and key sources of estimatlon uncertalnty In the preparation of the financial Statements are as follows. Basls of preparation The financial statements have been prepared in accordance wlth Accountlng and Reportlng by Charities: Statement or Recommended Practlce appllcable to charltles preparlng their accounts In accordance with the Financlal Reporting Standard appllcable In the U K and Republlc of Ireland issued In October 2019, the Financial Reporting Standard applicable in the United Klngdom and Republic of ireland (FRS 102), The accounts show the results of the charltles operatlons which are descrlbed In the Trustees, Report, all of which are continuing. Kent Assoclatlon for the Blind meets the definitlon of a publlc benefit entity under FRSIO2. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated In the relevant accounting policy note(sl. b) Company status The Charity Is a company limited by guarantee and gIStered In the UK. The members of the company are the tru5tee5 and in the event of the Charlty belng wound up the Ilablllty in respect of Lhe guarantee is limited to £10 per member of the Charlty. Preparation of the accounts on a Going Conr basts The trustees have assessed the flnanclal posltlon OF the Charity, the as5UmPtions made in the preparation of its budgets and forecasts and the financial risks. Based on this and the level of reserves held the trustees conclude that It is approprlate to prepare the financial statements on a going concern basis. d) Fund accounting Unrestricted funds are available to spend on activities that further any of the purposes of the Charity. Designeted funds are unrestricted funds of the charlty whlch the trustees have declded at thelr dlscretion to set aside for a specific purpose. Restricted funds are donations whlch the donor has specifled are to be solely used for the particular areas of the charity'5 work. Further details of each fund as shDwn in note 19, Income recognition Income Is fftcognlsed when the charlty has entitlement to the funds, any performance conditlons attached to the Items of Income have been met, it is probable that the income will be received and the amount can be measured rellablv. f) Income from local authority grants Income from local authorlty grants Is recognised when the Charity has entitlement to the funds and any performance condltlons of the grants have been met, it is probable that the income will be CeIved and the amount can be measured reliably and is not deferred. l) Donations Donatlons are recognised upon recelpt by the charlty. Income fmm membershlp subscrlptlons recelved by clubs have the substance of a glft and are recognised within donations. il) Fundralslng Event5 Income from fundraislng events Is shown gross wlth the associated costs included In c05t5 of raislng funds. 111) Legacy gifts Legacy gifts are recognlsed on a case by case basis when receipt of the income is belleved to be probable. Income is believed to be probeble when all of the following occur.. probate has been granted, the admlnlstrator/executor for the estate has Communicated in writing the amount of the gift, there are sufficient fund5 Wlthln the estate to make a dlstrlbution, and all conditions not under the control of the ChatY have been met. For legacles where the glft Is: a reslduary legacyi ill a form other than cash, or which 21
Kent Association for the Bllnd Notes to the Financial Statements For the year ended 31 March 2025 (wntinuedl Involves assets which require liquidation prior to distribution, the legacy wlll only be recognised where the above condition5 have been met and the amount can be reliably measured with a degree of reasonable accuracy. Where legacie5 have been notified to the charity, or the charity is aware of the grantlng of probate, and the crlteria for Income recognition have not been met, then the legacy Is treated as a contlngent asset and dlsclosed If materlal. Iv) Trainlng courses Income received in advance for training course5 is deferred until the date of the course as these fees would be refundable In the event that KAB cancelled the trainlng. v) Dividends and Interest receivable Dividends are recognised once the dividend ha5 been declared and notlfication has been received of the dlvidend due. Thls Is normally upon notlfication by our Investment managers of the dlvldend yleld of the Investment Portfolio. Interest on f unds held on deposit is included when receivable and the amount can be measured reliably by the charityi this is normally upon notification of the interest paid or payable by the bank. g) Donated servlces and facllltles In accordance with the Charities SORP (FRS 102) the general volunteer time of KA3 volunteers Is not recognlsed and the trustee's annual report provldes more Information about their contrfbutlon. KAB recelves several types of donated Items and facllltles such as raffle prizes, room hire, training and hospitality. On receipt, these items are recognised at Ihe value of the gift which the charity would have been willing to pay to obtain items or servlces of equivalent economic benefit on the open market,. a corresponding amount Is then recognlsed In the expendlture in the period of receipt. h) Expenditure and irrecoverable VAT Liabilities are recogni5ed as expenditure On there is 3 legal or con5tructlve obllgatlon to make a payment to a thlrd party, It is probable that seltlement wlll be required and the amount of the obllgatlon can be measured rellably. All expendlture Is accounted for on an accruals basls. Irrecoverable VAT is charyed against the expenditure heading for which it was incurred. Allocation of support costs Support costs are those functlons that asslst the work of the charity but do not dirECtly undertake charitable activities. Support costs include back off ice costs, financei personnel. payroll and governance costs which SLSPPOrt the various actlvltles of KAB. fhese costs have been allocated beeen the cost of raising funds and expendlture on charltable activities. The basis on which suptK)rt C05t5 have been allocated Is set out In note 7. i) Tanglble fixed assets Individual Flxed assets costing £l,OQO or more are capltallsed at their purchase prlce. Depreciation is provlded on all tanglble assets, other than freehold land, at annual rates calculated to write off the costs less the estlmated residual value, of each asset over Its expected useful Ilfe on a stralght Ilne basis as follows: Asset Category.. Freehold land Freehold buildiNgs Leasehold Improvements Flxtures, fittings, equipment and computers Motor vehicles Annual Rate: ooh 20/0 over the term of the lease 10-200/D 20Q k} Flxed Asset Investments Fixed asset investments are held both to generate income and for Investment potential. The Investments held are Ilsted 2nd traded on a recognlsed stock exchange and are measured Inltlally at cost and subsequently at thelr falr value at the balance sheet date uslng the closlng quoted market prlce. The statement of f Inanclal actlvlties Includes the net gains and105ses ari51ng on revaluations and dlsposals throughout the year. The charity doe5 not acquire put option5, derivatives or other complex flnanclal Instruments. Reallsed galns and losses 22
Kent Assoclatlon for the Bllnd Notes to the Flnanclal Statement5 For the year ended 31 March 2025 (Continued) All galns and losses are taken to the Statement of Financlal Activities as they arise. Reallsed galns and losses on Investments are calculated as the difference between the sales proceed5 and thelr openlng carrying value or thelr purchase prlce Is acquired subsequent to the first day of the flnancial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and thelr carrylng value. Reallsed and unreallsed investment gain5 and losses are combined In the statement of Financlal activities. Operating leases The charity classifles the leases or the Canterbury and Bromley Sight Centres a5 operating leases. Rentals payable are charged In a stralght line basis over the lease term. Club5 and Groups The Income, expenditure, assets and liabllltles of all KAB clubs and groups are included wlthln these flnanclal statements. All club funds are treated as restricted. stock stock held comprises two elements: stock assoclated with non-charitable trade and stock provlded as part of charitable attlvlty. Neither slock type is issued for fr and as such all stock 15 held at the lower of costs or net reallsable value. Damaged or obsolete stock 15 wrltten down as an expense. p) Debtors Trade and other debtow are recognised at the amount due less any provislon for bad or doubtful debts, q) Cash at bank and in hand Cash at bank and in hand include5 only cash held in instant access bank accounts. Credltors Creditor5 afft recognised where the Charity has a present obligation resultlng f rom a past event that wlll probably result In the transfer of funds to a thlrd party and the amount due to settle the obligation can be measured or estlm8ted reliably. Creditors are recognlsed at their settlement amounts. Pensions Employees of the charlty are entitled to Joln a deflned COntbutION 'money purchase. scheme. The charity contribution is restricted to the contrlbutions disclosed in note 7. The costs of the defined contrlbutlon scheme are included within the staff costs of the fundralslng, charitable actlvity or support costs as appropriate. These costs are allocated to the unrestricted funds of the charity wlth the exception of job roles which are f unded 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 unrestrlcted funds of the charity using the methodology set out in note 7. Kent Assoclatlon for the Bllnd has two defined contrlbutlons scheme5 held with Aegon and The People's Penslon. Since April 2014 staff who were not already members of the Aegon scheme are only able to joln The People's Penslon Scheme. The charlty has no liability beyond maklng Its contributions and paying across the deductlons for the employees contrlbutlons to the relevant scheme. New and exlstlng employees who were not otherwlse enrolled In a penslon scheme were automatically enrolled into the People's Penslon scheme where thelr earnlngs met the auto enrolment criteria unles5 they had exercised thelr rlght to opt out of the scheme membership. Employees enrolled in both schemes contract directly wlth the companles concerned. The charlty makes a matchlng contribution of up to 60/0 of salary to these penslon schemes and acts as an agent collectlng and paying over employee pension contributions. t) Taxation The charlty Is an exempt charlty wlthln the meanlng of schedule 3 of the Charltles Act 2011 and is considered to pass the tests set out In Paragraph I Schedule 6 Finance Act 2DIO and theff0re it meets the definition of a charitable company for U K corporatlon tax purposes. Management estlmates and Judgements Accountlng estlmates and judgements are contlnually evaluated and are based on historical experience and other factors, includlng expectatior15 of future events that a believed to be reasonable under the circumstances. The Foundatlon makes estlmate5 and assumptions concerning the future. The resulting accounting estlmates and assumptlons wlll, by definitlon, seldom equal the 23
Kent Assoclatlon for the Blind Notes to the Financial Statements For the year ended 31 March 2025 (continued) related actual results, The estimates and assumption5 that have a 5ignlficant risk of causlng a material adjustment to the carrying amounts of a55ets and liabilities within the next flnancial year are discussed below. Useful economlc Ilves of tanglble assets The annual depreciation charge for tangible assets is sensitive to changes In the estlmated useful economlc lives and resldual value5 of the assets. The useful economic live5 and residual values are reassessed annually. They are amended when necessary to reflect current estlmates, based on technological advancement, future Investments, economic utlllsatlon and the physlcal conditlon of the assets. See note 12 for the carrying amount of the property plant and equipment, and nDte l(i) for the useful economic Ilves for each class of assets. 2. Donations and Lega¢ies Total 31.03.2025 Total 31.03.2024 Donations Grant Income f rom Trusts and Foundations Legacies Club Donations 174,057 276,058 3,084,014 144,524 220,881 224,324 £3 562 219 £614 233 Of the total grents from Trust and Foundatlons, there were funders that donated over EIO,000 as follows.. National Lottery and one anonymous. In 2024 the Trust and Foundation5 funders which donated over £10,000 were as follows,. Lols Cumbers Charitable Foundation, National Lottery and Vision Foundation. 3. Income from Charltable Actlvltles 3a. Rehabilitation Services Total 31.03,2025 Total 31.03.2024 Local Authorlty Grants from.. Kent County Councll Medway Council London Borough of E+romley London Borough of Bexley 1,139,000 166,861 148,000 1,155,000 153,242 148,000 £1 471371 £1473 752 Equipment Income Total £1478248 £1480673 24
Kent Assoclatlon for the Blind Notes to the Financial Statement5 For the year ended 31 March 2025 (continued) 3b. Trainlng Total 31.03.2025 Total 31.03,2024 Short Cour5e5 Total All income assoclated with Training In 2025 and 2024 Is unrestricted. 3c. Projects Total 31.03.2025 Total 31.03.2024 other Total £92 023 £91 519 4. Income from investments Total Total 31.03.2025 31.03.2024 Income from listed investments Enterest on cash deposits 31,322 36,405 E 50050 £ 40046 5. Expenditure on ralsing funds other Trading Attivities Donations and Legacies Investment costs Total 31.03.2025 Total 31,03.24 Direct Staff Costs Dlrect Fundralslng Costs Bullding and telephone costs Investment management COSts Governance Costs (see note 7) Support Costs ( see note 71 97,658 30,570 8,007 5,140 1,609 102,798 32,179 8,007 6,134 1,459 85,157 31,667 7,626 8,305 1,321 6,134 1,328 131 £160 713 £ 176 017 £ 159 386 All expenditure on raising fund5 in unrestricted. 25
Kent Association for the Bllnd Notes to the Financial Statements For the year ended 31 March 2025 (continued) 6. Expenditure on Charltable attivtties Direct Costs Support costs starr costs Total 31.03.2025 Total 31.03.2024 Cost of ralslng funds 102 798 176 017 159 386 Charltable expendlture Fiehabllltation services One to one support services AT Service Transcriptlon & Talking News Tralnlng Clubs, groups and cllent support Projects 1,376,841 336,037 115,360 1,041 4,711 392,674 9,604 15,238 319 267 43,762 363,821 118,700 39,380 430 1,614 4,132 2,153,336 464,341 169,978 1,790 6,592 47,894 2,101,789 459,078 166,437 4,591 34,085 59,139 197 1 834 187 479 061 548 077 2 861 325 2 841 721 1 936 985 511 240 589 117 3 037 342 3 001 108 Included In direct costs and support costs are staff costs of £28S,39112024- £238,e04} which are allocaled above. 7a. Support Costs Total 31.03.2025 Total 31.03.2024 CEO'S offi Finance HR 106,142 88,533 70,978 52,457 184,876 36,787 20,680 95,772 76,744 65,066 48,839 186,202 36,533 20,157 IT Establishment costs including support staff Insuran Professional fees Governance (note 7b) 589 117 557 160 7b. Governance costs Total 31.03,2CI25 Total 31.03.2024 Auditor's remuneration CEO and flnance costs Other 12,750 11,766 12,000 10,999 26
Kent Assoclation for the Bllnd Notes to the Financial Statements For the year ended 31 March 2025 (continued) 8. Net expenditure for the year This Is stated after the following Total 31.03.2025 Total 31.03.2024 Depreciation of tanglble flxed assets Loss on Disposal Audlt Fees - Statutory Audit Operating leases 48,643 52,959 12,282 12,000 12,750 Land and Buildings 9. Analysis of staff costs, trustee remun8ratlons and expenses, and the cost of key management personnel Total 31.03.2025 Total 31.03,2024 The staff costs were Wages and Salaries Soclal Security Costs Pension Costs 1,940,886 168,131 1,882,842 158,358 2 202 376 2 129 098 The total amount of redundancy payments made in the flnanclal year was £nll (2024 £3,978). Redundancy payments are set at the statutory mlnlmum amount based on the staff rriembery. age and period of service, Trustees were reimbursed expenses during the year of £90 tsvo trustees (2024 £36 one trustee}. The nature of the expenses relmbursed were travel expenses In connectlon wlth attending meetings. The average number of staff durlng the year was 99 (2024 100). 2025 2024 Part Tlme Full Time PartTime Full Tlme Head Office Fundraising Charitable activltie5 32 53 32 53 37 Durlng thls year, one employee earned more than £80,000 but not more than £90,000 and one employee eamed between £60,000 and £70,000 (2024,. one employee earned more than £70,000 but not more than £80,000), 62 36 64 The key management personnel of the charity has employee benefits total £276,409 (2024., £237,092). 10. Related Party Transactlons There have beèn no related party transactions in the year ended 31 March 2025 (2024 nll) whlch requlre disclosure. 27
Kent Assoclatlon for the Bllnd Notes to the Financial Statements For the year ended 31 March 2025 (continued) 11. Taxation The charity is an exempt charlty wlthln the meanlng of schedule 3 of the Charities Att 2011 and, Is consldered to pass the tests set out in Paragraph I Schedule 6 Finance Act 20 10 and therefore it meet5 the definitlon of a charitable company for UK corporatlon tsx purposes. 12. Tangible Flxed Assets Freehold land and buildings College Road Maldstone Furnlture, flttlngs equipment and com uters Motor Vehicles Total Cost As at l Aprll 2024 Addltions Disposal As at 31 March 2025 1,306,924 144,532 2,906 74,162 1,525,618 2,906 1 306 924 138 579 1 519 665 Depreciation A5 at l April 2024 Charge for the year Disposal As at 31 March 2025 443,541 16,138 91,836 17,673 44,496 14,832 579,873 48,643 459 679 100 650 619 657 Net Book Value As 8t 31 March 2025 847 245 900 007 As at 31 March 2024 863 383 945 745 The land value Included In Freehold land and buildings Is £500,000. 13. Fixed Asset Investments Movement in fixed a55et listed investments 31,03.2025 31.03.2024 Market value brought forward at l April 2024 1,448,611 1,504,624 Add: additions to investments at cost Movement in cash held within Investments Disposals at carrying value Unrealised/reallsed galns and (losses) 875,608 1,026,520 (37,711) 42,306 11,063,709) (1,290,727) 165 888 Market value as at 31 March 2025 Net cash released fmm investments In the year was £250,000 (2024 £250,000), 1 232 982 1 448 611 28
Kent Association for the Bllnd Notes to the Flnancial Statements For the year ended 31 March 2025 (contlnued) 13. Flxed Asset Investments Investments at falr value comprlsed: 31.03.2025 31.03,2024 Bonds Equltle5 overseas Equities - UK Equities - Emerging markets Thematic Commodities Cash held wlthin the investment portrolio 246,727 735,052 29,630 84,518 123,356 196,843 586,933 403,858 78,141 95,639 35,787 13,699 Total 1 232 982 1 448 611 Investments Include £116,422 {2024 £103,777) held on behalf of clubs and branche5. Quoted investments are carried at their fair value. The basls of falr value for quoted Investments is equivalent to the market value. The charlty holds investments for Income and capital grcjwth. The charity manages investment risk by retaining expert advisors at Coutts bank. Rlsk Is also managed by dlrectlng Coutts to operate the investment portfolio using a medlum risk strateoy. The risk of realised losses upon needing to extract cash at short notice 15 mitlgated by assessing cash flow needs at least 18 months into the future and holding sufficient cash outside of the portfolio to meet these needs, The followlng Investments represent a slgnlflcant value of the portfolio: 31.03.2025 31.03.2024 Coutts Actively Managed UK Equity Coutts Actively Managed US Equity Fund Coutt5 US ESG Insights Equity Fund Coutt5 UK ESG Insight5 Equity Fund Coutts Europe ex UK Eqully Index GBP-C- Coutt5 US and Canada Enhand Index Coutt5 North Amerlca ESG Inslghts Amundl Fund5 SICAV Shares Coutts US ESG Insights Equlty Fund Hedged JP Morgan Fund ICVC shares 97,391 192,062 205,163 277,344 85,561 151,173 115,524 22,153 102,096 214,723 67,687 72,999 14. Stock 31.03.2025 31.03,2024 Fundraising Merchandlse Rehab and Low Vlslon Equlpment 1,266 1,632 15. Debtors Total 31.03.2025 Total 31.03.2024 Trade debtor5 Prepayments Accrued Income 140,098 50,330 1 291 727 1 486 092 133,953 48,499 326 527 513 273 29
Kent Assoclatlon for the Blind Notes to the Financial Statements For the year ended 31 March 2025 (continued} 16. Creditors: amounts falling due within one year Total 31.03.2025 Total 31,03.2024 Trade credltors Accruals Deferred Income Other Taxation and Soclal Securlty Other creditors 67,299 34,402 121,212 51,099 81,071 29,378 131,266 44,929 275 191 287 733 17. DefÉrred Income Totsl 31.03.2025 Total 31.03.2024 Balance at l April 2024 Released in the year Deferred in the year Balance at 31 March 2025 131,266 (131,266) 121 212 121 212 111,815 (111,815) 131 266 131 266 Deferred Income of £121,212 relates to income from events and projett grants occurrlng post year-end. 18. Deslgnated funds New designation Deslgnatlon released Current year Balance at 31.03.2024 Balance at 31.03.2025 Designated Funds Eye Clinlc Llalson Offlcer Fund AT worker Fund Transcrlptlon Fund Training services Fund Maintenance Fund Equipment and Icr Fund Noblle Sight Centre Re-brandlng Counselling Property Purchase Flxed asset reserve Total 118,733 9,200 18,632 23,000 124,300 47,800 425,000 245,000 io,Doo 27,000 76,800 (102,736) (104,200) (3,119) {11,873) 440,997 150,000 25,513 38,127 201,IQO 47,800 300,000 50,000 252,994 I,ioo,000 900 007 3 506 538 300.000 50,000 263,200 I,ioo,000 36,431 (46,637) 945 745 1 323 841 2 497 000 314 303 The Trustees feel that roles performed by the Eye Cllnlc Llalson Offlcers, AT workers, Moblle Slght Centre and the work undertaken by the Transcriptlon, Counselllng Servlce end Training services are of vital importance to KAB Service users and as such, they have again designated funds (above), to enable services continue in the comlng year in the event that Insuffficient new external f unding Is obtained. The rna1ntenan fund wlll allow KAB to meet the expected bulldlng maintenance costs, based on a detailed review of repairs and new818 needs. The equipment and ICT Fund is based on the expected future costs of malntaining the charlties IGr Infrastructure In an Increasingly challenglng Information Govemance envlronment. 30
Kent Assoclatlon for the Blind Notes to the Financial Statements For the year ended 31 March 2025 (continued) There are plan5 to purchase a property In the Kent area to support both staff and service users. The plan to rebrand the organisation Is belng considered to better reflect it5 current contracts and actlvltles, The fixed asset fund relates to funds held In flxed a55et5, includlng the freehold land and bulldlngs that are not available for charitable expendlture. 18. Deslgnated funds New deslgnation Designation released Prior year Balance at 31.03.2023 Balance at 3L.03.2024 Designated Funds Eye Clinic Llalson Offlcer Fund AT worker Fund Transcrlptlon Fund Tralning services Fund Maintenance Fund Equipment and I Fund Moblle Slght Centre Counselllng Flxed asset reserve 89,711 49,435 13,793 25,831 193,100 73,400 75,000 80,000 992 352 1 592 622 125,000 95,000 ID,000 27,000 (95,978) 1135,235) 15,161) (29.831) {68,800) (25,600) (75,000) (43,5691 118,733 9,200 18,632 23,000 124,300 47,800 36.431 945 745 Total 257 000 525 781 1 323 841 19. Restrl¢ted Funds Current year Balance at 31.03.2024 Income Expendlture Balance at 31.03.2025 KCC Adults Grant Trusts, Legacles and donatlons restrlcted to AT services Trusts and donation5 restrlcted to chlldren's actlvltles Trusts and donatlons fftstricted for demonstration equipment 1,058,000 (1,058,000) 52,844 84,942 (78,828) 58,958 3,396 200 (2,035) 1,562 710 (40) 670 Family Activities Donatlons restricted for rehabilitatlon and activities for adult5 Aimlng Hlghl Mary Klrby larrett Legacy ECLO Fundlng Counselling Covid Funding MSC Clubs and Groups 5,041 (543) 4,498 4,364 26,659 41,494 123,384 (16,1281 111,620 26,659 39,720 14,810 5,405 4.509 19,104 254 452 (1,774) (6,750) 115,953) (417) (89,167) 21,560 21,297 61 4,926 19,681 236 939 88,590 391074 1 457 074 1 306 182 541 966 31
Kent Association for the Blind Note5 to the Flnanclal Statements For the year ended 31 March 2025 (contlnued) KCC Adults Grant Is the grant f rom KCC for the provlslon of adult's rehabllltatlon services in Kent. We are tremendously grateful for the donation5 from individual donors, organlsation5 and many trusts that have supported our work this year. Trust funding has been received for AT service5, children's attlvltles, the purchase of demonstration equipment, the ongolng provlslon of Transcrlption and the support of rehabllltatlon and leisure actlvltles for adults, Also included wlthln restrlcted trust donatlons for AT servlces are: grants made to pay the salary costs of our AT Worker in Bromley, which were recelved, from City Bridge Trust and a generous legacy bequest for our general AT servlces. The Jarrett Legacy is a legacy left for the beneflt of the Gravesend aa. The Aiming Hlgh/ Mary Klrby fund relates to legacy income to be spent in the Sevenoak5 area. The ECLO funding is income to be spent within the department fmm Kent Community Foundatlon and Tula Trust. Clubs and gmups represent the total funds held by the KAB clubs and gmups including accrued legacles, The Counselling funds is to be spent on telephone counselling and face to face counselling In the Bromley and Canterbury area. The MSC Fund relates to donatlons re5trlcted for the purchase and use of the Moblle Slght Centre. The grant from the National Lottery Community Fund (RC London and South East Region) Is restrlcted to support Iri5 CMSC) over a 3 year period, as well as providing some fundlng towards follow up Assistive Technology (ATI support In the communlty. The Grant amount to date Is £160,976. The Covid Funding is Funding to be spent on personal protective equlpment In Ilght of the Covid Pandemlc. 19. Restricted Funds Prlor year Balance at 31.03.2023 Income Expenditure Balance at 31.03.2024 KCC Adults Grant Trust5, Legacies and donations restricted to AT servlces Trusts and donations restritted to children's actlvitle5 Trusts and donatlons restrlcted for demonstratlon equlpment Trusts restrlcted for the Foundatlon Degree Trusts and donations restrlcted for talking News Donations restrlcted for rehabllltation and activlties for adults Aiming High/ Mary Klrby Jarrett Legacy ECLO Funding Counselllng Covld 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 (1,829) 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 61 4,926 19,681 236 939 93,607 429 557 1279 743 1 318 226 391 074 32
Kent A550ciation for the Blind Notes to the Financial Statement For the year ended 31 March 2025 (continued) 20. Analysls of net asset5 between funds Net Current Assets Current year Fixed Assets Investments Total 31,03.2025 Restricted funds 116,422 425,544 541.966 Deslgnated Fund5 900,007 423,834 2,182,697 3,506,538 Unrestricted Funds 692,726 494,069 1,186,795 900 007 1 232 982 3 102 310 5 235 299 Prior year Fixed Assets Net Current Assets Investments Total 31.03.2024 Restricted funds Designated Funds Unrestrlcted 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 21. Reconclliatlon of net movement In funds to net Cash flow from operatlng actlvltles 31.03.2025 31.03.2024 Net movement In fund5 Add back depreclatlon charge Deduct Interest Income shown In investing activltles Add back loss on dlsposal Deduct galnsl add Losses on Investments (Increase)/ Decrease in stocks (Increase)/Decrease In debtors Increase / (Decrease) in creditors Net cash used In operatlng attlvities 2,456,440 48,643 (50,050) 1293,747) 52,959 (40,046) 12,282 (165,888) (136) (16,714) (10,183) (1,899) (972,819) 1 457 590 423 018 33
Kent Assoclation for the Blind Notes to the Financial Statements For the year ended 31 March 2025 (continued) 22. Analysig of cash and cash equivalents 31.03.2025 31.03.2024 Cash at bank and in hand Cash held by Clubs Cash held with Investment managers 1,811,468 65,349 65,958 80,312 1 890 515 197 680 The dlfference in the ffigure 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. Obllgatlons under operatlng lea$ The company had future commitments under non-cancellable operatlng leases as follows: Land and Buildlngs Other 31.03.2025 31.03.2Q24 31.03.2025 31.03.2024 Total 31.03.2025 31.03.2024 Payments due in le55 than l year Payments due In 2-5 years 8,667 26,780 8,667 39,750 1,937 8,667 26,780 10,604 39,750 35,447 34