Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
Registered number: 03469264 Charity number: 1067245
VOCALEYES
(A Company Limited by Guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
VOCALEYES
(A Company Limited by Guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 9 |
| Independent Examiner's Report | 10 |
| Statement of Financial Activities | 11 |
| Balance Sheet | 12 |
| Statement of Cash Flows | 13 |
| Notes to the Financial Statements | 14 - 36 |
Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
VOCALEYES
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024
| Trustees | Ms R C di Corpo, Chair |
|---|---|
| Mr P A Reiff-Musgrove, Treasurer | |
| Mr J M Abro | |
| Ms L K Alston | |
| Ms V J Harrison | |
| Ms K A Hunter | |
| Mr E Matthies | |
| Ms T J Nichols | |
| Mr J L Penny (resigned 27 November 2023) | |
| Ms J C Wood (resigned 12 May 2023) | |
| Mr S J Hilton (appointed 26 February 2024) | |
| Company registered number 03469264 Charity registered number 1067245 Registered office Thomas Pocklington Trust 3 Queen Square London WC1N 3AR Company secretary Matthew Cock (resigned 3 July 2023) Natasha Bucknor MBE (appointed 26 July 2023; resigned 3 April 2024) Claire Saddleton (appointed 1 May 2024 Chief executive officer Matthew Cock (resigned 3 July 2023) Natasha Bucknor MBE (appointed 26 July 2023; resigned 3 April 2024) Claire Saddleton (appointed 1 May 2024 Independent Examiner MHA Chartered Accountants Charter Court Phoenix Way Swansea Enterprise Park Swansea SA7 9FS Bankers CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ |
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Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
VOCALEYES
(A Company Limited by Guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their annual report together with the financial statements of the Charity for the year 1 April 2023 to 31 March 2024. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
VocalEyes was established as a company limited by guarantee on 21 November 1997 and is both a registered charity and a registered company. Its affairs are governed by its Memorandum and Articles of Association and the liability of the members in the event of the company being wound up is limited to a sum not exceeding £1.
Appointment of Trustees
The trustees of the charity are also directors of the company for the purpose of company law and any reference to trustees is, therefore, also to directors. Those who served during the year and subsequently to the date of this report were:
Ms R C Di Corpo, Chair Mr P A Reiff-Musgrove, Treasurer Mr J M Abro Ms L K Alston Ms V J Harrison Ms K A Hunter Mr E Matthies Ms T J Nichols Mr S J Hilton (appointed 26 February 2024) Mr J L Penny (resigned 27 November 2023) Ms J C Wood (resigned 12 May 2023)
None of the trustees has a beneficial interest in the company.
Trustees are appointed by an ordinary resolution. Whenever the number of trustees is fewer than three, new trustees must be appointed to bring the number up to three and until otherwise determined by a General Meeting, the number of trustees shall not exceed 30. At every Annual General Meeting, the longest serving Trustees (chosen alphabetically if necessary) to the extent of 1/3 of the trustees for the time being shall retire and become eligible for reappointment. Trustees may serve for an initial period of three years and a retiring trustee may serve for one further term of three years. Exceptionally, trustees who have served for two terms may be asked to continue.
Methods adopted for the recruitment, induction and training of new trustees
Trustees are recruited through various networks within the arts and charity world. Before appointment, a prospective trustee meets the Chair and Chief Executive for a full briefing and attends a Board meeting as an observer before formally joining the Board. New trustees are provided with an induction that includes, where relevant to the individual: an organisational briefing with the Chief Executive, attendance at a team meeting, a governance workshop, participation in a visual awareness and guiding training course, and attending an audio described (AD) theatre show or an AD tour at a museum or heritage site.
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Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
VOCALEYES
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
All new trustees are assigned an existing trustee as a supportive board member for their first year.
Organisational structure
The Board of Trustees administers the charity. All major decisions are made by the trustees who usually meet four times a year. In between board meetings, the Chief Executive Officer meets with individual trustees or groups of trustees as appropriate to discuss issues or make decisions. A scheme of delegation is in place and day-to-day responsibility for the affairs of the charity (including operational matters) rests with the Chief Executive Officer.
Matthew Cock stepped down as chief executive officer 3 July 2023, to move to the Southwest. Natasha Bucknor MBE joined VocalEyes as Interim Chief Executive Officer while a full recruitment process for a permanent replacement was undertaken. Claire Saddleton joined the charity as its new Chief Executive Officer 1 May 2024.
Related parties
There are no related or connected parties. However, VocalEyes has a close relationship with Stagetext, a charitable company that provides captioning for cultural events to assist those who are deaf, deafened, or hard of hearing. During 2023 VocalEyes and Stagetext shared office space. In the autumn of 2023, Stagetext relocated to Colchester, while VocalEyes transitioned to hybrid working, utilising office facilities at the Pocklington Hub in central London (home to the Thomas Pocklington Trust).
Governance
Stephen Hilton joined the Board in February 2024. Stephen is the founder and Director of City Global Futures Ltd and specialises in fostering sustainable, smart and equitable futures within diverse urban landscapes. Stephen has a background in fine art from Leeds and extensive involvement in the creative technologies industries. Stephen brings a wealth of personal experience and knowledge of the critical importance of accessibility and inclusion.
Trustee Joanna Wood stepped down in May 2023 and Trustee Jonathan Penny stepped down in November 2023. Both made a significant contribution to VocalEyes during their terms, including Joanna as chair. The company thanks them for all their work.
Vice-Chair, Rebecca Di Corpo, stepped up as acting Chair until a permanent replacement could be recruited.
OBJECTIVES
The objectives and purpose of the charity as per its governing document are to promote, maintain, improve and advance education particularly for blind and visually impaired people by the development and provision of, and increasing access to, audio description (AD) services for the arts and heritage.
Belief
VocalEyes believes that blind and visually impaired people should have the best possible opportunities to experience and enjoy art and heritage.
Mission
Our mission is to support the arts and heritage sectors to welcome blind and visually impaired people as a core audience. We work with arts and heritage venues to increase the opportunities that they provide for blind and visually impaired audiences and visitors at performances, events in galleries, special exhibitions, heritage sites, and online. We believe that cultural participation enriches people's lives and brings a range of positive outcomes: improved individual health and well-being; enhanced social interaction self-esteem and confidence. Blind and visually impaired people have as much a right to these as any UK citizen resident or visitor.
Staff
Valerie Isaiah Sadoh resigned as Programme Officer in March 2023. The post is being covered by temporary staff until a period of structural review has been completed.
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Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
VOCALEYES
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
In July 2023, Matthew Cock stepped down as CEO. Matthew had led the charity since February 2018, helping to grow VocalEyes’ impact, particular through the charity’s work with Museums, Galleries and Heritage. Matthew was also instrumental in the development of a series of well-received annual research projects. Working in partnership with a cohort of volunteer researchers and supported by Stagetext and the Centre of Accessible Environments, the research aimed to, alternately, benchmark and highlight the importance of online access information and then capture the user experience and views.
Following Matthew’s resignation, the role of CEO was covered on a part-time, interim basis for the remainder of 2023/24 by Natasha Bucknor MBE, a highly experienced Senior Manager and Executive Director.
ACTIVITIES AND ACHIEVEMENTS DURING 2023 to 2024
The activities undertaken by the charity in relation to its purpose as per the governing document and for the furtherance of public benefit have been discussed below. When planning current and future activities the trustees have had due regard to the Charity Commission guidance on public benefit.
The trustees would like to thank all funders and individuals supporting the work of VocalEyes. The collaboration and support of many Trusts and Foundations, large and small, is critical to the organisation’s ongoing resilience and social impact.
This year marked VocalEyes’ first year as an Arts Council England Investment Principle Support Organisation (IPSO), having formerly received regular funding as a National Portfolio Organisation. The new IPSO strand of funding meant that VocalEyes joined a cohort of 34 organisations funded from 2023-2026 to support the sector in working with the Arts Council’s four investment principles: ambition and quality, dynamism, environmental responsibility, and inclusivity and relevance. VocalEyes’ mission sits at the very heart of inclusivity and relevance. We not only deliver services across arts and heritage which have been developed with, by, and for blind and visually impaired people, we also seek to play an advocacy and leadership role, changing attitudes, developing skills across the sector, and embedding a positive approach to access.
Our communities
Vocaleyes collaborates with three interrelated communities to fulfil its mission. First and foremost, we work with and for blind and visually impaired people, who are our primary community and central focus. Secondly, we engage with the arts and heritage community to support, promote, and advocate for the inclusion of blind and visually impaired people in a wide range of cultural activities. Thirdly, we collaborate with and are supported by a community of freelance describers, trainers, technicians, and support workers, both sighted and visually impaired, who help us deliver a consistent and high-quality service.
Audience development
Alongside the delivery of our core audio description and training services sits our work promoting opportunities for blind and visually impaired people to engage with a wide range of arts and heritage activities; from accessing a recorded audio described tour at a local museum to attending a large-scale west end show. As part of our mission, we promote work that is directly delivered by VocalEyes but also the work of our peers. Any venue or organisation can send VocalEyes information about an event they are hosting which is being made accessible to the visually impaired community. We promote all events on our website and through our mailing list. VocalEyes manages an extensive database of blind and visually impaired people who have signed up to receive information about cultural events. Every month we send out over 1,000 ‘What’s On’ guides by email, and every 3 months we send out a quarterly events guide to over 2,000 subscribers by email, print, Braille, and audio recorded onto a USB stick.
“I visited his Majesty's Theatre for the touch tour and audio described version of the Phantom of the Opera; the describers were absolutely incredible and as this was the first time going to the theatre and using VocalEyes, I was truly impressed.”
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Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
VOCALEYES
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
In 2023/24 we continued to regularly attend a range of sight loss community events, such as Sight Village, to introduce local attenders to the range of opportunities made accessible through audio description and training.
We continued to host an audio description User Group, where participants share experiences from recent events and volunteer to test new services. For instance, in January 2024, the user group visited the National Portrait Gallery to trial their new recorded audio description guide and provide feedback to both VocalEyes and the venue’s Access Manager. Additionally, we continued to coordinate a new forum for visually impaired cultural sector workers.
Museums, Galleries and Heritage Programme
This year the Museums Galleries and Heritage Programme delivered 29 training courses, aiming to empower organisations to improve the accessibility of their collections and venues for blind and visually impaired visitors. This is a slight decrease from 2022/23 (in which 33 courses were delivered) but the number of recorded audio description commissions has increased during the same period from 17 to 22 demonstrating a growth in demand for these services. The number of live audio described tours delivered, 9, has reduced in line with a planned shift towards training and recorded formats to empower venues to deliver tours in a more sustainable way.
We continued to support sector development through formal and informal consultancy including supporting the National Portrait Gallery to review and develop their offer for VI audiences ahead of their grand reopening in June 2023 and delivering focus groups for the Museum of London Archaeology (MOLA) to explore the usefulness of Virtual Reality as an interpretation tool for VI audiences.
VocalEyes is a key partner on the Sensational Museum project, a £1m project funded by the Arts and Humanities Research Council, and led by Professor Hannah Thompson (Royal Holloway, University of London). Building on Prof Thompson’s theory of “Sensory Gain”, The Sensational Museum project asks how ‘access’ provision can be redesigned so that it can benefit all museum audiences. VocalEyes has supported the project to create accessible branding and website as well as participating in co-design workshops with the aim of creating a prototype model for museums to follow when designing exhibitions that engage all of the senses in an accessible way.
A challenge for the MGH programme has been having capacity available to meet increasing demand from the sector. For this reason, a key priority for the year ahead will be evaluation of the programme and strategic planning around where VocalEyes’ focuses its offer, combined with fundraising to expand our capacity.
Theatre Programme
For 2023/24 we delivered 236 live audio described performances, consistent with last year’s all-time high of 240. This was a significant achievement during a year of leadership transition. Some additional performances were affected by sector wide issues around aerated concrete affecting venues or cancelled/shortened tours.
VocalEyes’ audio-described performances include: a recorded audio introduction (also available in print); a touch tour shortly before the performance giving access to the set, props, and costumes; live introductory notes; and the live AD delivered by one or two professional audio describers and broadcast through headphones during the performance. We also support the technical set-up should venues need it.
The average attendance by users of the service across the year was 5.2, consistent with last year. And the average companion attendance was 4.9, up from 4.6.
Some events across the year achieved impressive attendance records and evidenced the recovery of organised group bookings post-pandemic. Some examples include:
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91 people (42 blind or visually impaired) for the Wizard of Oz Palladium Theatre, August 2023
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51 people (27 blind or visually impaired) for Guys and Dolls at the Bridge Theatre, November 2023
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50 people (30 blind or visually impaired) for a version of Romeo and Juliet at The Globe Theatre that was created especially for young people as an introduction to Shakespeare, March 2024
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Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
VOCALEYES
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
“Last night I brought 34 of my members and sighted guides to the London Palladium for Peter Pan. From the moment we entered the building, the Vocal Eyes team put everybody at ease and helped make the guiding process smoother, describing anything that was needed along the way. I had a great talk with [venue host] who really went above and beyond to help [the group] have the best time and we are so excited about working with him and you for the foreseeable future.”
We continued to deliver advice and consultancy to venues and producers, as well as advocate for the inclusion of access for blind and visually impaired people across our digital platforms and at networking events.
Research
The Sensational Museum
As previously mentioned, VocalEyes is a project partner on the Sensational Museum, a £1 million research project radically rethinking the role of senses in museums. The project aims to rethink the role and place of the senses in museums for everyone to benefit from the access traditionally only offered to disabled visitors. This interdisciplinary project is not only making museums accessible to disabled people but also uses knowledge of disability to make museums work for everyone. This project runs from April 2023 to July 2025.
State of Theatre Access report 2023
2023 saw the research stage of the most recent State of Theatre Access report which forms part of our cycle of research around venue access and the visitor experience. The State of Theatre Access report started in 2016 and has been produced in alternate years since 2017. Led by VocalEyes, three access organisations (VocalEyes, Stagetext, and The Centre for Accessible Environments) coordinated a team of volunteer researchers with lived experience of access barriers to review the websites of professional theatres across the UK. They recorded the disability access information each website provided (or didn’t provide) and, where relevant, the number of upcoming productions and performance listed as having an access service. Access services in this context included audio description British Sign Language or individualised performances (e.g. dementia friendly or relaxed).
Data was collected in April and May 2023 before the report was published in June 2024.
The report focuses on venues who list professional arts performances, identified as 465 venues in 2023 as opposed to 659 in 2017. The data provided in the survey is arranged following a theatregoer’s journey in planning and executing theatre visit including steps from finding out what’s on to moving around the venue. Highlights from the State of Theatre Access 2023 are:
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While the number of venues that listed professional arts performances on their website has decreased, it’s positive to note that the number of accessible productions has increased to 85% of those surveyed.
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85% of the websites offered additional access information including how to get to the venue and the venue layout.
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15% of the venues’ websites didn’t provide any access information at all.
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5% of UK theatres offered filmed performances streamed online however only 31% of those performances offered any type of access.
The final report is published on our digital platforms and shared with peers helping to shape an understanding of how embedded access is within the sector and inform future interventions.
FUTURE PLANS
This is a time of transition for VocalEyes as we move forward under new leadership and take the opportunity to
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Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
VOCALEYES
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
review our priorities and processes.
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We will develop a new business and fundraising plan that considers both the opportunities and challenges ahead, including advancements in new technology and the use of AI to deliver access services. As part of this we will review our digital and research programmes to maximise our impact and ensure effective use of capacity.
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We will continue to develop our consultancy, advocacy, and training services to support the arts and heritage sectors in the UK and internationally; seeking to embed high quality and innovative access provision as a fundamental right for all disabled people.
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We will explore how we can streamline our processes to bring efficiencies and release capacity.
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We will continue collaborating with blind and visually impaired individuals and communities, to enhance their representation in our work and throughout the arts and heritage sectors.
FINANCIAL REVIEW
Our total income for this year was £788,598 (2023: £805,177); total expenditure was £832,904 (2023: £831,281), giving a net result of £44,306 deficit (2023: £26,104 deficit).
The leadership change and interim arrangements in 2024 has impacted the organisation’s ability to replenish both unrestricted and restricted funds. The costs associated with delivering activities across all programmes have continued to rise. Client fees are reviewed annually. The touring sector still faces challenges postpandemic, limiting VocalEyes’ opportunities to secure repeat fees and resulting in some cancelled performances. Additionally, some performances were cancelled due to venue closures following the discovery of aerated concrete. Ongoing rail industrial action has also impacted expenses for theatre audio describers, often leading to additional costs.
Reserves Policy
The Trustees maintain a target level of free reserves to enable the charity to weather unexpected falls in income and unforeseen costs, helping to preserve its core services during difficult times. The trustees have reviewed the charity’s reserves policy in line with the guidance issued by the charity commission.
The 2024/25 target level of free reserves is £100,000. At year end our unrestricted reserves amount to £164,049 comprising of designated funds of £93,692 and free reserves of £70,357.
The current level of free reserves is below the target level.
Fundraising
The charity undertakes fundraising activities through seeking donations from members of the public, via the VocalEyes’ email newsletter and a ‘Just Giving’ link on our website, and through applying for grants from charitable trusts and foundations and arts and heritage sector funding bodies, such as Arts Council England. VocalEyes does not engage any professional fundraisers or commercial participators to carry out fundraising from members of the public on its behalf. The charity received no complaints about fundraising activities by the charity or by a person on behalf of the charity.
Remuneration of Key Management Personnel
The Charity considers its Key Management Personnel to be the Trustees and the Chief Executive Officer.
Pay and benefits of the charity’s Chief Executive is considered alongside those of all members of staff, by a subgroup of Trustees every 2 to 3 years who review the Band minimum and maximum for all job roles in the charity, benchmarking similar roles in the disability charity and arts sectors. In addition, the Board considers an annual uplift to salaries for all staff.
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Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
VOCALEYES
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
RISK MANAGEMENT
The Board of Trustees is responsible for the management of risks faced by the charity. Risks are identified and assessed regularly, and appropriate controls put in place to mitigate those perceived risks where possible. Consequently, the trustees are satisfied with the position.
Principal Risks and Uncertainties
The most significant risk is the need for diversification of funding sources and achieving the fees VocalEyes needs to deliver its services. A greater focus on income generation through consultancy and training, and an investment in fundraising are the key strategies for managing this risk.
TRUSTEES’ RESPONSIBILITIES STATEMENT
The trustees (who are also directors of VocalEyes for the purposes of company law) are responsible for preparing the Trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year. Under company law, the trustees must not approve the financial statements unless they are satisfied they give a true and fair 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:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the relevant Charities SORP;
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make judgements and accounting estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume the charitable company will continue in operation.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and 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.
In preparing this report, the trustees have taken advantage of the small companies exemptions provided by section 415a of the Companies Act 2006.
DISCLOSURE OF INFORMATION TO INDEPENDENT EXAMINER
Each of the persons who are trustees at the time when this Trustees’ report is approved has confirmed that:
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in so far as that trustee is aware, there is no relevant information of which the charitable company’s independent examiner is unaware; and
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that trustee has taken all the steps that ought to have been taken as a trustee in order to be aware of any information needed by the charitable company’s independent examiner in connection with preparing their report.
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Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
VOCALEYES
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
APPOINTMENT OF INDEPENDENT EXAMINER
MHA were appointed as independent examiner to the company.
Approved by order of the members of the board of Trustees and signed on their behalf by:
Mr S J Hilton Chair
Mr P A Reiff-Musgrove Treasurer
Date: 07 October 2024
07 October 2024
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Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
VOCALEYES
(A Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF VOCALEYES ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2024.
RESPONSIBILITIES AND BASIS OF REPORT
As the Trustees of the Charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
INDEPENDENT EXAMINER'S STATEMENT
Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed:
Dated: 07 October 2024
Rachel Doyle FCCA ACA DChA
MHA House, Charter Court, Swansea, SA7 9FS
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Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
VOCALEYES
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024
| Note INCOME FROM: Donations and grants 3 Charitable activities 4 Investments 5 TOTAL INCOME EXPENDITURE ON: Raising funds 6 Charitable activities 7 TOTAL EXPENDITURE NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward Net movement in funds TOTAL FUNDS CARRIED FORWARD |
Restricted funds 2024 £ 76,013 - - 76,013 - 108,029 108,029 (32,016) 78,217 (32,016) 46,201 |
Unrestricted funds 2024 £ 234,235 474,019 4,331 712,585 20,599 704,276 724,875 (12,290) 176,339 (12,290) 164,049 |
Total funds 2024 £ 310,248 474,019 4,331 788,598 20,599 812,305 832,904 (44,306) 254,556 (44,306) 210,250 |
Total funds 2023 £ 341,796 461,555 1,826 805,177 12,147 819,134 831,281 (26,104) 280,660 (26,104) 254,556 |
|---|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 14 to 36 form part of these financial statements.
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Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
VOCALEYES (A Company Limited by Guarantee) REGISTERED NUMBER: 03469264
BALANCE SHEET AS AT 31 MARCH 2024
| 2024 | 2024 | 2023 | ||||
|---|---|---|---|---|---|---|
| Note | £ | £ | ||||
| FIXED ASSETS | ||||||
| Tangible assets | 12 | 2,689 | 4,659 | |||
| 2,689 | 4,659 | |||||
| CURRENT ASSETS | ||||||
| Debtors | 13 | 92,484 | 99,854 | |||
| Cash at bank and in hand | 212,010 | 252,522 | ||||
| 304,494 | 352,376 | |||||
| Creditors: amounts falling due within one | ||||||
| year | 14 | (96,933) | (102,479) | |||
| NET CURRENT ASSETS | 207,561 | 249,897 | ||||
| TOTAL NET ASSETS | 210,250 | 254,556 | ||||
| CHARITY FUNDS | ||||||
| Restricted funds | 15 | 46,201 | 78,217 | |||
| Unrestricted funds | 15 | 164,049 | 176,339 | |||
| TOTAL FUNDS | 210,250 | 254,556 |
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
| The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: =(AM |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: Pur Reiff-Musqroue |
|---|---|
| Mr S J Hilton | Mr P A Reiff-Musgrove |
| Chair | Treasurer |
| Date: 07 October 2024 |
07 October 2024 |
The notes on pages 14 to 36 form part of these financial statements.
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Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
VOCALEYES
(A Company Limited by Guarantee)
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024
| Note CASH FLOWS FROM OPERATING ACTIVITIES Net cash (used in)/from operating activities 17 CASH FLOWS FROM INVESTING ACTIVITIES Interest receivable Purchase of tangible fixed assets NET CASH PROVIDED BY/(USED IN) INVESTING ACTIVITIES CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR Cash and cash equivalents at the beginning of the year CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR 18 The notes on pages 14 to 36 form part of these financial statements |
2024 £ (43,988) 4,331 (855) 3,476 (40,512) 252,522 212,010 |
2023 £ (111,421) 1,826 (2,479) (653) (112,074) 364,596 252,522 |
|---|---|---|
Page 13
Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
(A Company Limited by Guarantee)
VOCALEYES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1. GENERAL INFORMATION
The Charity is a charitable company limited by guarantee, registered in England and Wales. The members of the Charity are the trustees named on page 1. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member. The address of the registered office and principal place of business is Thomas Pocklington Trust, 3 Queen Square, London, WC1N 3AR.
The functional and presentational currency is GBP.
2. ACCOUNTING POLICIES
2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
VocalEyes meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 GOING CONCERN
The Charity meets its day to day working capital requirements through the utilisation of its own funds. Since its inception in November 1997, the Charity has been principally funded by Arts Council England who are currently funding the charity by providing grant support. The trustees have prepared updated forecasts and projections based on a number of potential scenarios and these, together with reserves held, cost savings made and government assistance indicate that the Charity has adequate resources to continue its operations, albeit at a potentially lower level. It is, however, difficult to determine the assumptions that will prove to be most appropriate and therefore there is an element of uncertainty existing. After reviewing the forecasts and projections, at the time of approving these financial statements, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the next 12 months. The trustees therefore consider it appropriate to continue to adopt the going concern basis in preparing the Charity’s financial statements.
2.3 INCOME
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Donations are accounted for when received. Performance fees are accounted for on an accruals basis with regard to the date of performance. Grants, including government grants, and investment income are accounted for on an accruals basis.
2.4 INTEREST RECEIVABLE
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
Page 14
Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
VOCALEYES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
2. ACCOUNTING POLICIES (CONTINUED)
2.5 EXPENDITURE
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.
Cost of raising funds: this compromises all costs incurred by the Charity associated with attracting voluntary income to finance its charitable objectives.
Charitable expenditure: this comprises all expenditure incurred by the Charity in the delivery of its activities and services for its beneficiaries and includes commissioning costs, production expenses and research and development and comprises commission paid to describers, technical support costs, the cost of producing audio tracks with advance information and other costs associated with the incoming resources under the same heading.
Support costs: this comprises central costs including salaries, costs related to marketing, printing, website maintenance and other expenses necessary to support the activities. These costs have been allocated to activities on a basis consistent with the use of resources.
Governance costs: this comprises all costs associated with meeting the constitutional and statutory requirements of the Charity.
2.6 TAXATION
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
2.7 TANGIBLE FIXED ASSETS AND DEPRECIATION
Tangible fixed assets costing £250 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Page 15
Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
VOCALEYES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
2. ACCOUNTING POLICIES (CONTINUED)
2.7 TANGIBLE FIXED ASSETS AND DEPRECIATION (CONTINUED)
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
| Leasehold improvements | - | 20% Straight line |
|---|---|---|
| Office furniture | - | 25% Straight line |
| Computer equipment | - | 25% Straight line |
2.8 DEBTORS
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.9 CASH AT BANK AND IN HAND
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.10 LIABILITIES AND PROVISIONS
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
2.11 FINANCIAL INSTRUMENTS
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.12 PENSIONS
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.
Page 16
Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
VOCALEYES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
2. ACCOUNTING POLICIES (CONTINUED)
2.13 FUND ACCOUNTING
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
2.14 CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGEMENT
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the reporting date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.
Accruals
The Charity makes an estimate of accruals at the year end based on invoices received after the year end and work undertaken which has not been invoiced based on quotations or estimates of amounts that may be due for payment.
Tangible fixed assets
All assets are depreciated over their useful lives taking into account residual values where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending upon a number of factors.
Grant income recognition
Grant income is recognised when the charity has entitlement, receipt is probable and the amount can be measured reliably. These three conditions, particularly the probable condition, neccessitate the exercise of judgement.
Page 17
Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
VOCALEYES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
3. INCOME FROM GRANTS AND DONATIONS
| Arts Council England National Lottery Heritage Fund Mackintosh Foundation Scott Eredine Charitable Trust Royal Holloway London Other donations Arts Council England National Lottery Heritage Fund Thomas Pocklington Trust Scott (Eredine) CharitableTrust Dorothy Hay-Bolton CharitableTrust Clockworkers Foundation The Ulverscroft Foundation The Edward Gostling Foundation The Salters' Company Other donations |
Restricted funds 2024 Unrestricted funds 2024 £ £ - 227,584 66,346 - 1,000 - - 5,000 8,667 - - 1,651 76,013 234,235 Restricted funds 2023 Unrestricted funds 2023 £ £ 16,351 227,929 66,252 - 3,500 - - 4,000 - 3,000 7,700 - 4,000 - - 5,000 - 2,000 - 2,064 97,803 243,993 |
Total funds 2024 £ 227,584 66,346 1,000 5,000 8,667 1,651 |
|---|---|---|
| 310,248 | ||
| Total funds 2023 £ 244,280 66,252 3,500 4,000 3,000 7,700 4,000 5,000 2,000 2,064 |
||
| 341,796 |
Government grants of £227,584 (2023: £244,820) were received in the current year from Arts Council England. There were no unfulfilled commitments or other contingencies associated with this income at the year-end date.
Page 18
Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
VOCALEYES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
4. INCOME FROM CHARITABLE ACTIVITIES
| Unrestricted funds 2024 £ Fees for the provision of audio description services 412,510 Other income including training 61,509 474,019 |
Total funds 2024 £ 412,510 61,509 474,019 |
Total funds 2023 £ 419,382 42,173 |
|---|---|---|
| 461,555 |
In the prior year, all income from charitable activities was unrestricted.
5. INVESTMENT INCOME
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2024 | 2024 | 2023 | |
| £ | £ | £ | |
| Bank interest | 4,331 | 4,331 | 1,826 |
In the prior year, all investment income was unrestricted.
Page 19
Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
VOCALEYES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
6. EXPENDITURE ON RAISING FUNDS
COSTS OF RAISING VOLUNTARY INCOME
| Unrestricted funds 2024 £ Other staff related costs 158 Marketing and communications 10,195 IT services and equipment 232 Board expenses (governance) 206 Examination & accountancy (governance) 1,542 Rent, services and utilities 579 Office running costs 344 Sundry costs - Depreciation 113 Staff costs 7,230 20,599 |
Total funds 2024 £ 158 10,195 232 206 1,542 579 344 - 113 7,230 20,599 |
Total funds 2023 £ 69 3,265 143 - 538 851 455 23 192 6,611 |
|---|---|---|
| 12,147 |
In the prior year, all costs of raising voluntary income were unrestricted.
7. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES
| Audience Development & Marketing Audio Description Services Training & Other Services Research & Development |
Restricted funds 2024 Unrestricted funds 2024 £ £ 14,999 63,956 72,740 514,566 13,300 92,384 6,990 33,370 108,029 704,276 |
Total funds 2024 £ 78,955 587,306 105,684 40,360 |
|---|---|---|
| 812,305 |
Page 20
Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
VOCALEYES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
| Audience Development & Marketing Audio Description Services Training & Other Services Research & Development |
Restricted funds 2023 £ 3,998 114,028 13,013 - 131,039 |
Unrestricted funds 2023 £ 61,758 499,108 96,764 30,465 688,095 |
Total funds 2023 £ 65,756 613,136 109,777 30,465 |
|---|---|---|---|
| 819,134 |
8.
ANALYSIS OF EXPENDITURE BY ACTIVITIES
| Audience Development & Marketing Audio Description Services Training & Other Services Research & Development Audience Development & Marketing Audio Description Services Training & Other Services Research & Development |
Activities undertaken directly 2024 £ 37,585 452,216 79,526 17,808 587,135 Activities undertaken directly 2023 £ 39,785 503,392 72,103 10,461 625,741 |
Support costs 2024 £ 41,370 135,090 26,158 22,552 225,170 Support costs 2023 £ 25,971 109,744 37,674 20,004 193,393 |
Total funds 2024 £ 78,955 587,306 105,684 40,360 |
|---|---|---|---|
| 812,305 | |||
| Total funds 2023 £ 65,756 613,136 109,777 30,465 |
|||
| 819,134 |
Page 21
Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
VOCALEYES (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
8. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)
ANALYSIS OF DIRECT COSTS
| Staff costs Audio description services Consultancy and training Marketing and communications Office running costs Research and development Staff costs Audio description services Consultancy and training Marketing and communications Office running costs Depreciation |
Audience Development & Marketing 2024 £ 18,445 - - 19,118 22 - 37,585 Audience Development & Marketing 2023 £ 20,321 - - 19,442 22 - 39,785 |
Audio Description Services 2024 £ 80,199 371,855 - - 162 - 452,216 Audio Description Services 2023 £ 95,201 408,005 40 - 162 (16) 503,392 |
Training & Other Services 2024 £ 15,892 13,300 50,310 - 24 - 79,526 Training & Other Services 2023 £ 15,104 8,314 48,661 - 24 - 72,103 |
Research & Development 2024 £ 10,818 - - - - 6,990 17,808 Research & Development 2023 £ 10,461 - - - - - 10,461 |
Total funds 2024 £ 125,354 385,155 50,310 19,118 208 6,990 587,135 Total funds 2023 £ 141,087 416,319 48,701 19,442 208 (16) 625,741 |
|---|---|---|---|---|---|
Page 22
Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
VOCALEYES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
8. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)
ANALYSIS OF SUPPORT COSTS
| Staff costs Other staff related costs Consultancy and training Marketing and communications IT services and equipment Board expenses Independent examiner & accountancy (governance costs) Rent, services and utilities Office running costs Depreciation Sundry costs |
Audience Development & Marketing 2024 £ 32,948 394 259 241 580 515 3,855 1,448 839 283 8 41,370 |
Audio Description Services 2024 £ 61,578 14,391 864 1,809 4,349 3,863 28,913 10,857 6,290 2,119 57 135,090 |
Training & Other Services 2024 £ 17,180 434 - 265 638 567 4,241 1,592 922 311 8 26,158 |
Research & Development 2024 £ 20,795 - 1,757 - - - - - - - - 22,552 |
Total funds 2024 £ 132,501 15,219 2,880 2,315 5,567 4,945 37,009 13,897 8,051 2,713 73 |
|---|---|---|---|---|---|
| 225,170 |
Page 23
Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
VOCALEYES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
8. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)
ANALYSIS OF SUPPORT COSTS (continued)
| Staff costs Other staff related costs Consultancy and training Marketing and communications IT services and equipment Independent examiner (governance) Rent, services and utilities Office running costs Depreciation Sundry costs |
Audience Development & Marketing 2023 £ 20,035 173 84 193 359 1,345 2,128 1,115 481 58 25,971 |
Audio Description Services 2023 £ 63,032 3,848 281 1,447 2,689 10,084 15,959 8,361 3,608 435 109,744 |
Training & Other Services 2023 Research & Development 2023 £ £ 31,240 19,434 190 - - 570 212 - 394 - 1,479 - 2,341 - 1,226 - 529 - 63 - 37,674 20,004 |
Total funds 2023 £ 133,741 4,211 935 1,852 3,442 12,908 20,428 10,702 4,618 556 |
|---|---|---|---|---|
| 193,393 |
9. INDEPENDENT EXAMINER'S REMUNERATION
The independent examiner's remuneration amounts to an independent examiner fee of £2,850 (2023 - £2,850).
10. STAFF COSTS
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
2024 £ 230,465 17,656 16,964 265,085 |
2023 £ 245,380 19,148 16,911 281,439 |
|---|---|---|
During the year, the Charity paid redundancy and termination payments totalling £21,987 in respect of a change in key management personnel.
Page 24
Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
VOCALEYES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
10. STAFF COSTS (CONTINUED)
The average number of persons employed by the Charity during the year was as follows:
| AD and training Support |
2024 No. 3 4 7 |
2023 No. 3 4 |
|---|---|---|
| 7 |
No employee received remuneration amounting to more than £60,000 in either year.
The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £72,304 (2023: £67,469).
11. TRUSTEES' REMUNERATION AND EXPENSES
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).
During the year ended 31 March 2024, expenses totalling £1,194 were reimbursed or paid directly to 2 Trustees (2023 - £55 to 1 Trustee). Expenses relate to travel and subsistence.
Page 25
Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
VOCALEYES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
12. TANGIBLE FIXED ASSETS
| COST OR VALUATION At 1 April 2023 Additions Disposals At 31 March 2024 DEPRECIATION At 1 April 2023 Charge for the year On disposals At 31 March 2024 NET BOOK VALUE At 31 March 2024 At 31 March 2023 DEBTORS DUE WITHIN ONE YEAR Trade debtors Other debtors Prepayments and accrued income |
Leasehold improvements £ 9,713 - (9,713) - 8,256 1,457 (9,713) - - 1,457 |
Office furniture £ 4,259 - (1,780) 2,479 2,237 619 (1,780) 1,076 1,403 2,022 |
Computer & equipment £ 18,409 855 (5,661) 13,603 17,229 749 (5,661) 12,317 1,286 1,180 2024 £ 38,092 10,709 43,683 92,484 |
Total £ 32,381 855 (17,154) 16,082 27,722 2,825 (17,154) 13,393 2,689 4,659 2023 £ 47,105 5,200 47,549 99,854 |
|---|---|---|---|---|
13. DEBTORS
Page 26
Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
VOCALEYES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Other taxation and social security Other creditors Accruals and deferred income Deferred income at 1 April 2023 Resources deferred during the year Amounts released from previous periods |
2024 £ 39,797 10,946 - 46,190 96,933 2024 £ 15,771 27,000 (15,771) 27,000 |
2023 £ 64,340 14,411 1,297 22,431 102,479 2023 £ 58,449 15,771 (58,449) 15,771 |
|---|---|---|
Deferred income relates to grants received for the 2024/25 financial year.
Page 27
Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
VOCALEYES (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
15. STATEMENT OF FUNDS
STATEMENT OF FUNDS - CURRENT YEAR
| UNRESTRICTED FUNDS DESIGNATED FUNDS Office closure Tangible fixed assets Creative workshops Workforce support initiative Supporting access and skills development Staff and describer CPD Training new describers Recruitment Staff costs GENERAL FUNDS General fund TOTAL UNRESTRICTED FUNDS |
Balance at 1 April 2023 £ 9,500 4,659 5,000 5,000 20,000 10,000 12,000 - - 66,159 110,180 176,339 |
Income £ - - - - - - - - - - 712,585 712,585 |
Expenditure £ - - - - - - - - - - (724,875) (724,875) |
Transfers in/out £ (5,879) (1,970) - - (1,719) (2,965) (1,934) 12,000 30,000 27,533 (27,533) - |
Balance at 31 March 2024 £ 3,621 2,689 5,000 5,000 18,281 7,035 10,066 12,000 30,000 |
|---|---|---|---|---|---|
| 93,692 | |||||
| 70,357 | |||||
| 164,049 |
Page 28
Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
VOCALEYES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
15. STATEMENT OF FUNDS (CONTINUED)
RESTRICTED FUNDS
| Increased audio description and recordings Newsletter project Training new describers project & CPD Museums & Galleries programme Research and development Audience development project Training in regional and London's smaller museums TOTAL OF FUNDS |
23,655 5,000 14,834 145 4,850 22,547 7,186 78,217 254,556 |
67,346 - - - 8,667 - - 76,013 788,598 |
(71,540) (1,950) (14,500) - (6,990) (13,049) - (108,029) (832,904) |
- - - - - - - - - |
19,461 3,050 334 145 6,527 9,498 7,186 |
|---|---|---|---|---|---|
| 46,201 | |||||
| 210,250 |
Page 29
Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
VOCALEYES (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
15. STATEMENT OF FUNDS (CONTINUED)
STATEMENT OF FUNDS - PRIOR YEAR
| UNRESTRICTED FUNDS DESIGNATED FUNDS Office closure Tangible fixed assets Creative workshops Workforce support initiative Supporting access and skills development Staff and describer CPD Training new describers GENERAL FUNDS General fund TOTAL UNRESTRICTED FUNDS |
Balance at 1 April 2022 £ 9,500 7,350 5,000 5,000 20,000 10,000 12,000 68,850 106,392 175,242 |
Income £ - - - - - - - - 707,374 707,374 |
Expenditure £ - - - - - - - - (700,242) (700,242) |
Transfers in/out £ - (2,691) - - - - - (2,691) (3,344) (6,035) |
Balance at 31 March 2023 £ 9,500 4,659 5,000 5,000 20,000 10,000 12,000 |
|---|---|---|---|---|---|
| 66,159 | |||||
| 110,180 | |||||
| 176,339 |
Page 30
Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
VOCALEYES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
15. STATEMENT OF FUNDS (CONTINUED)
RESTRICTED FUNDS
| Increased audio description and recordings Newsletter project Touring funds Training new describers project & CPD Museums & Galleries programme Research and development Audience development project Training in regional and London's smaller museums TOTAL OF FUNDS |
30,700 3,997 15,108 14,834 145 9,900 23,549 7,185 105,418 280,660 |
90,303 4,000 - - - 3,500 - - 97,803 805,177 |
(103,383) (2,998) (15,108) - - (8,550) (1,000) - (131,039) (831,281) |
6,035 - - - - - - - 6,035 - |
23,655 4,999 - 14,834 145 4,850 22,549 7,185 |
|---|---|---|---|---|---|
| 78,217 | |||||
| 254,556 |
Page 31
Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
VOCALEYES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
15. STATEMENT OF FUNDS (CONTINUED)
RESTRICTED FUNDS
Touring funds
Kirsh Family Trust: Touring Fund 2019/20 - Towards the costs of providing AD services for theatre productions touring to theatres around the UK, allowing us to reduce the cost for individual venues and towards the cost of delivering Professional Development opportunities for specialist freelance audio describers and other practitioners.
Increased AD and recordings
Persula Foundation - Towards the costs of creating recorded Audio Introductions for our AD service for theatre performances, and the costs of maintaining up to date access information for theatre venues.
The Lawson Trust - Towards the costs of creating recorded Audio Introductions for our Theatre AD service.
Coral Samuel Charitable Trust – Towards the cost of creating recorded Audio Introductions for our Theatre AD Service.
Sobell Foundation – Towards the cost of creating recorded Audio Introductions for our Theatre AD Service.
Clothworkers' Foundation – Towards the cost of theatre AD equipment.
Worshipful Company of Spectacle Makers – Towards the cost of providing audio described tours for buildings featured in the annual Open House Series.
The Edward Gostling Foundation – Towards the cost of creating recorded Audio Introductions for our Theatre AD Service.
Peskin Charitable Trust – Towards the cost of creating recorded Audio Introductions for our Theatre AD Service.
Haberdashers' Benevolent Foundation London Theatre – Towards the costs of delivering our AD service for theatre performances in London, specifically the recorded audio introductions for these events.
London Freemasons's Charity – Towards the cost of our AD services delivered in London (theatre or museums, galleries or heritage sites).
National Lottery Health Fund - Museum and Heritage Access 2022 - to build a network of digital volunteer researchers recruited primarily from the deaf, disabled and neurodivergent community. The volunteer researchers will run an information audit of the website access information of 3,000-3,500 UK heritage venues / sites. We will use this to underpin increasing awareness in the sector of the importance of structured, detailed and descriptive online access information to D/deaf, disabled and neurodivergent visitors.
Mackintosh Foundation - Towards the cost of theatre audio description.
Research and development
Thomas Pocklington Trust - Towards the costs of a consultant to help improve our technological capabilities, through accessible software options appraisal and requirements development for an updated or new system to manage VocalEyes' activity and contacts.
Page 32
Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
VOCALEYES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
15. STATEMENT OF FUNDS (CONTINUED)
The Sensational Museum - Towards the cost of transforming access and inclusion within the museum sector by reshaping the role of senses in museum experiences.
Training in regional and London’s smaller museums
The Catherine Lewis Foundation - Towards the costs of training museum, gallery and heritage staff in UK regions (not London).
The Annie Tranmer Charitable Trust - Towards the costs of training museum, gallery and heritage staff in UK regions (ideally in the Suffolk area).
Vision Foundation (formerly Greater London Fund for the Blind) - Towards the costs of training staff at small museums, galleries and heritage sites in London.
The Weinstock Fund – Towards the cost of audio description and visual awareness hub training courses.
Museums and Galleries programme
Barchester Foundation - Towards the cost of equipment and resources to create Tactile Diagrams for use in museums, galleries and heritage sites.
Audience Development Project
John Ellerman Foundation - Towards costs of marketing and Audience Manager salary costs and other marketing costs.
Newsletter project
Ulverscroft Foundation - Towards the cost of our quarterly What’s On guide in clear print, braille and audio which promotes accessible events to the blind and visually impaired community.
Scott (Eredine) Charitable Trust - Towards the cost of our quarterly What’s On guide in clear print, braille and audio which promotes accessible events to the blind and visually impaired community.
Training new describers project & CPD
The D'Oyly Carte Charitable - The D'Oyly Carte Charitable Trust - Towards the cost of delivering training for new Audio Describers.
DESIGNATED FUNDS
Office-related costs, including dilapidations - Reserved for potential costs – e.g. access alterations or dilapidations / making good at end of lease, planned spend during the year 2024- 25.
Fixed assets – represents the value of funds tied up in fixed assets.
Creative workshops and other initiatives supporting the individual creativity of blind and visually impaired people.
Initiative supporting blind and visually impaired people in the arts and heritage workforce - Planned spend during the years 2022-23 to 2025-26.
Supporting access and skills development at small arts and heritage venues - planned spend during the years 2022-23 to 2025-26.
Staff and describer CPD - Planned spend during the years 2022-23 to 2025-26.
Training new describers - Planned spend during the years 2022-23 to 2024-25.
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Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
VOCALEYES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
15. STATEMENT OF FUNDS (CONTINUED)
Recruitment - Fund to cover the cost of planned staff recruitment.
Staff costs - Fund to cover the cost of increases in staff costs.
16. ANALYSIS OF NET ASSETS BETWEEN FUNDS
ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT PERIOD
| Tangible fixed assets Current assets Creditors due within one year TOTAL |
Restricted funds 2024 Unrestricted funds 2024 £ £ - 2,689 64,201 240,293 (18,000) (78,933) 46,201 164,049 |
Total funds 2024 £ 2,689 304,494 (96,933) 210,250 |
|---|---|---|
| ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR PERIOD Restricted funds 2023 £ Tangible fixed assets - Current assets 93,988 Creditors due within one year (15,771) TOTAL 78,217 |
Unrestricted funds 2023 £ 4,659 258,388 (86,708) 176,339 |
Total funds 2023 £ 4,659 352,376 (102,479) 254,556 |
|---|---|---|
| Tangible fixed assets Current assets Creditors due within one year TOTAL |
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Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
VOCALEYES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
17. RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net expenditure for the period (as per Statement of Financial Activities) ADJUSTMENTS FOR: Interest receivable Depreciation Loss on the sale of fixed assets Decrease/(increase) in debtors Decrease in creditors NET CASH (USED IN)/PROVIDED BY OPERATING ACTIVITIES 18. ANALYSIS OF CASH AND CASH EQUIVALENTS Cash in hand TOTAL CASH AND CASH EQUIVALENTS 19. ANALYSIS OF CHANGES IN NET DEBT At 1 April 2023 £ Cash at bank and in hand 252,522 252,522 |
2024 £ (44,306) (4,331) 2,825 - 7,370 (5,546) (43,988) 2024 £ 212,010 212,010 Cash flows £ (40,512) (40,512) |
2023 £ (26,104) (1,826) 4,811 359 (48,462) (40,199) (111,421) 2023 £ 252,522 252,522 At 31 March 2024 £ 212,010 212,010 |
|---|---|---|
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Docusign Envelope ID: AFED3354-4D44-40FA-B07F-166A69C8CDB7
VOCALEYES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
20. PENSION COMMITMENTS
The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £16,964 (2023: £16,911). At the year-end, prepaid contributions to the scheme amounted to £17 (2023: £1,297 due to the Scheme).
21. OPERATING LEASE COMMITMENTS
At 31 March 2024 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Leased premises | ||
| Not later than 1 year | - | 11,943 |
The following lease payments have been recognised as an expense in the Statement of Financial Activities:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Operating lease rentals | 11,943 | 16,640 |
22. RELATED PARTY TRANSACTIONS
Lynette Alston, director of VocalEyes from 30 July 2018, is Company Secretary of Polka Children’s Theatre Limited. During the year a total amount of £nil (2023: £800) was invoiced by VocalEyes to Polka Children’s Theatre Limited and as at 31 March 2024, an amount of £Nil (2023: £Nil) was owed to VocalEyes by Polka Children’s Theatre Limited.
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