Registered number: 03554422 Charity number: 1069765 SOUTHEND IN SIGHT (A company limited by guarantee) (Fonnerly Southend on Sea Bllnd Welfare Organisation) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 VINTw/MS
SOUTHEND IN SIGHT (A company limited by guarantee) CONTENTS Page Reference and administrative details of the Company. its Trustees and thisers Tru$te¢s' report 3-11 Independent examinerfs report SLitornent of financial activlties 12-13 14-15 Balance sheet 16-17 Notes to the flnancial statements 18-37
SOUTHEND IN SIGHT (A company limited by guaranlee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023 Trustees R O Cable, Chairman S Cooper, Vice Chairman B D Armitage {re5igned 7 December 20221 J A Davenport S Davies C L McLewn M S Pinnock (resigned 3 October 2022) D E Wacogne P G Warburton, Secretary Company rogistered number 03554422 Charity registerad number 1069765 Registered office Millhouse 32-38 East Street Rochford Essex SS4 1D8 Company SOCTetary P G Warburton Chief oX8CUtive offlcer L Martin Accounlants Ventham5 Chartered Accountants Millhouse 32 - 38 East Street Rochford Essex SS4 1DB Bankers HSBC Bank PLC 48 High Street Rae1gh Essex SS6 7JH Page 1
SOUTHEND IN SIGHT (A company limited by guarantee) REFERENCE AND ADMINISTRAnVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Investment manageTS Evelyn Partners 16th & 171h Floor 6 New Street Square New Fetter Lane London EC4A 3BF Page 2
SOUTHEND IN SIGHT {A company limited by guarantae) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 The Trustees present their annual report together wth financial statements of the Company for the 1 April 2022 to 31 March 2023. The Annual reFK)rt Serves the purwses of both a Trustees, rewrt and a directors, report under company law. The Trustees confim that the Annual rewrt and financial statements of the charitae
mpany comply wlh the current statutory requirements. the requirements of the charitable comp8ny's governing document and the provisions of the Statement of Recommended Practice ISORP) applicable lo charit$ preparing their accounts in accordance the FInarla1 Reporting Standard appIable in the UK arnd Republic of ITeland IFRS1021 (efftlve 1 January 2019)- Since the Company qualrfies as small under Section 382 of the Companies Act 2006. the Strategic report required of medium and large companies under the Companies Act 20 {Strategic Report and Directors, Report) Regulations 2013 has been omitted. Objectives and activities a. Policies and objoctives The objectNes of the chanty are: To support and offer practThl help to visualty Impalred people and their familie5 in Southend-on-sea and the adjoining areas To develop other charitable athities Ihal are conducive or ancillary lo these objects. The charity has 2 general aim of provKling pract1 help to visually impaired people in the general area of Soulhend. Community Services" Soulhend in Sight Centre.. The Centre offers people with sight problems a chance to try out a large range of specialist equipment induding CCTV magnffiers, talking books players, task lighting and many other aids to support independent ITving. This equipment is demonstrated by a team of staff and volunteers and a Tech Team give specialist advice on i•ads. tablets and mobile phones. Assistance has also been provided for people needing forms filled in for Attendance Allowance, PIP and Blue Badges. A new assessment tool has been introduced called the Sight Loss MOT which enables Ihe Sighl Loss Advisor to work with people more holistically looking al how their Sht loss has impacted drfferenl areas of their lrfe ie. Work, education, getting out and about. managing at home and finances. Hospital Services: An Eye Clinic Liaison Officer IECLO) is employed partty through RNIB to provide full lime support at Soulhend Hospital Eye Clinic for those patients who are in the eady days of their sight loss joumey. The ECLO helps with prctessing Certtficates of Visual Impairment and provides the necessary emotional support in the drfficult earty days. They will also sun post to other services and make referrals as necessary. Social AclNilies and Talk and Support-. Social actwitss remain wjpular ag people INing wrth sight loss can experience feelings of isolation. Coffee momings and a Fun Friday session, with enlertainmenl, are run once a month at a local social dub. Weekly len pin b0ing sessions have continued in Hockley and are well attended. New activities this year include a talking books club, line danung. and a choir. The Talk and Support Servi continues lo grow givirrfJ isolated individuals the support they need over the phone and for some people in their homes. Whi15t the fundirtg for this has reduced Servi has been maintained and supported by a number of volunteers. Support for children, young people and thew families continues wth SOCkg1 gatherings offered during the year including a sub5idised trip lo the panlomirne at the cirffs Pavilion and an exdusive outing lo Kids Kingdom. All of our si9hl loss services arè available to children. young people and their families and any requests for sup¢y)rt are dealt with on an individual basis. Page 3
SOUTHEND IN SIGHT (A company limited by guarantee) TRUSTEES. REPORT {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2023 Objectives and &tivitiè5 (tontinu8d) Information and Training.. The organisation gNes timety inforniation, advi and guidance on all areas of sight loss. Equipment demonslralion days arsd the annual exhibilion have seen good attendance. The equipment loan scheme continues to run and gives people the opportunity lo borrow expensive items such as CCTVS. Sight Loss Awareness Courses have also been introduced for local groups and organisations in Soulhend and have been extremely popular. This year Guiding Training has retumed lo gNe new staff and volunteers the necessary skills lo guide service users al events. activities and on site. b. Activiti und•rtaken to achieve objectives The strategies employed lo achieve the ¢haiiVs obie¢tives are.. 1. To promote the Centre and Servi to all visualty impaired peO¥e in the area. 2. To offer a range of activities so that visually impaired people have the chance lo gain from experiences and meet others in the same FX)S"rtion. 3. To provide opportunities for clients to engage in athilies to re(luce isolation. 4. To provide optX)rtunilies to ty equipment that may help wsually impaired people lo continue an independent lrfe in their own homes including advi on accessing IT. A newsletter wll a150 continue to be produced four 'mes 2 year providing information on a range of areas levant to memberg. 5. To train and support volunte8rs lo assisl and support visualty impaired dients and encourage peer support. This involves recTuiling volunteers vtho have experience of liviThJ wlh sight loss. 6. To present a range of actNitks aThJ OPFM)rtunities which are both wpular with the membership and respond to their requests and needs. 7. To support the ECLO Servi at Soulhend Hospital Eye Clinic to help people in the earfy stages of sight loss navigate their way around services and secure funding lo sustain the service. 8. To offer volunteering op[*un"rtieS to the local communtyfor the benefit of members. g. To build a rdationship wth Ictal families who have visually impaired children. promote the Charity and meet regulady. c. Volunteers The Charity is grateful for the invaluable efforts of its volunteers who are invofved In service delivery. charty shops and fundraising. There are approximately 60 active volunteers. and some are visualty impaired Ihemsefves. The visually impaired volunteers are extremely well placed to support others in the same boat and this peer support is extremely valuable. Volunteers Working with service users have been given Guiding Trdining and volunteers are held in high regard al the Charity. They are given long serwce abrdrds and meet four times during the year for infomiation sessions and celebrations. Page 4
SOUThEND IN SIGHT IA MpanY limitad by guarante•) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 ObJ•ctlves and actlvltigs {¢orrtinugd) d. Maln activities undertaken to further tho Companys purposes for the public benefit Tho Trustees are mindtul of their duty under section 17 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefrt. The obiertNes and actNilies of Soulhend in Sighl focus on delivering servi$ lo aid the visually impairgj in their daily living and are undertaken lo further our charitable purposes for the public benefit. Achlevements and p8rfomiance a. Key performanGg indi&2tofs Budgets are sel annually, a1 meetings are held wilh Trustees on a quarterly basis to monitor budgets against foTecasls. Soulhend in Sight has supp(wt from the Trustees and financial statements are produced regularly lo manage the finances effects"vely. and take action rf necessary. b. Revlew of activities The charity has continued to offer high quality and professw)nal advi(x to those needing support managing sight 103s. This year. at our Centre, we have= Provided 1,286 sessions of support at our Centre and supported 457 individuals on their sight loss journey. welcomed 231 new indmduals to the Charity. helped 24 people wth form filling over 40 se55ions and supp)rted 61 indNiduals vith Tech support over 101 sessions. carTied out 44 Sight Loss MOTS and held 26 drop in advi sessions wlh peer support. Al Southend Hospital Eye Clinic our Eye Clinic Liaison oFfir has supported those in the early days of their diagnosis wrth emotional arKI practical adwce. During the year we have" helped 1.020 patients vthh support and guidance and held 1.739 se$Srts of SUPFth. supported 617 relatNes I carers and processed 214 CertIfateS of Visual ITnpairnient. For those who could be feeling isolated we have expanded our actTVities lo include b0Ing, book club. choir. Ilne dancing, coffee mornings and Fun FridayB. Our Talk arml Support service also continued sUPPOrted by 11 volunteers and our engagement wth children and families has improved. During the year we have: provided 54 activities for adults and held 38 t*xvlirKJ sessions. offered 6 Childn,$ events induding a thp to the Pantomime al the Clnys Pavilion. carried out 43 home visits to those 4¥tK) are housetMyJnd and made 1.998 Talk and SupFM)rt calls to offer a lrfeline to those who are flIng isolated. Page 5
SOUTHEND IN SIGTr (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Achlovomonts and rfOrManCe (continued) c. Fundralslng The Charity SIM)p. which is run by Southend Trading Ltd. continues to be very popular and is open six days per week. Income (after expenses} this year Wds £54.467 whh wrds donated lo the Charity. Community fundraising has been more challengirwJ a5 events arml cdlections have not been as popular followng the parKiemic. However, grani funding. both nationally and Irxalfy has been seen more success wrth the focus belng on cost of living and those facing financial hardship. d. Investment pollcy and performance The Articles of Association gNe Ihe Tnjstees unrestrthd POWErs to invest the futS as they see fil. Evelyn Partners Iformedy Tilney Asset Management Services Ltd.), continue the management funds on a medium risk basis. The investment perfomiance of the fund manager is benchmarked against the VVM Unconslrained Index. Investments are managed on a medium risk basis Nwth emphasis on an above average levd of income and the growth of that income. This wll be achieved primarily through investment in a combination of l)onds and higher income equities. The aim will be to achieve returns through a (x)mbinalion of capital appreciation and income received. Flnanclal revlew a. Going Goncern Afler making appropTiate enquirles. the trustees have a reasonable expectation that the Charity has adgquate resour(Es to continue in operational existen for the foreseeable future. For this reason, they continue to adopt the going concem basis in preparing the financial slalements. Further d8tails regardiTrJ the adoplion of the going nrn basis can be found in the Accounting Policies_ Page 6
SOUThEND IN SIGHT (A company lirnited by guarant¢o} TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 b. Roserves policy The reserves policy continues lo be the maintenance of sufficient reserves lo continue the existing services, and protect the future needs of the chaTity. However. due lo the recent sale of Elkington House Care Home and the Strategic Review carried out by the Charity. the Board of Truslees have reviewed their Reserves Policy. The Board have consKlered'. Flnancial Risk The risk of reduced income due to inteTmiitent granl funding. The risk of unplanned events ie. increase in energy prices. The unpredictable and unprecedented time for community fundrdisillg induding charity shop sales. C9asing to operatg The cost of Wlnding up the Charity slKMJld it cease lo operate. Infrastructure The investment needed to maintain the buildirKJ to run the Charity from and to bring certain areas up to required standards. The investigation into an additional or rew site to further devel¢)p and gr(hv the Charity. Strateglc Direction The future direction of the charity to meet the changing needs of the local wsually impaired communty. The opportunity lo invest in I seed new projects lo meet gr(AMng needs and increase funding. The long-lerm plan to bring tIv"e$ together under one rLW)f at an additnal or new srte. Reservos breakdown Unrestricled Funds= These are income or income funds which can be spent at the dIscren of the Trustees in furtherance of any of the charity's objects. If part of an unrestricted income fund is eamiarked for a particular project il may be designated as a separate fu1. but the designation is lmInIstrate only and does not restrict the Trustees. discTetion lo spend the fund. After allocating an amount lo a Designated Fund, the amount of Unrestricted General Funds 31st March 2023. were £810.471. or that figure, £506,496 is represented by fixed assets so free reserves al 31st March 2023 total £303,975. This represents approximately tsvelve mtsnths of core operating expenditure, and it is planned to maintain the free reserves at that level. Designated Funds.. These are part of the Unrestricted Funds Wh The Twstees have eamiarked for particular projects, without restricting or committing the funds legally. Al 31 st March 2023 these amount to £900.000, and repres8nl an estimate of essential works to be undertaken at the property at 117 Hamlet Court Road of £250.(100, in order lo bring it into a good slate of repair. and the anticipated cost of purchasing an additional proFety in the amount of £650,000. Sorrells, Chart8red Surveyors. have been retained to identfy suitable properties. Page 7
SOUTHEND IN SIGHT (A ¢ompany limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Restncted Funds". These are funds subject to specific Irusls. which may be dedared by the donors or created through legal prosS. At 31 st March 2023 these st(x)d at £36.368. . Financial risk management objectives and policies The results are set out in the summary'incoTne and expenditure" and show a surplus for the year of £651,127. The Trustees consider that the assets of the Charity are adequate to fulhl its obligations for the foreseeable future. d. Principal funding The principal funding sources of the charity are grants, legaryes, donations, and the preedS of shop sales from our shop in Hamlet Court Road. Page 8
SOUThEND IN SIGHT {A company limited by guaranté•l TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Struclurei govornance and managemwrt a. Constltution The company is registered as 2 charitable company limited by guarantee, wth a company number of 03554422. The company is constituted under a Memorandum of AsSlatn dated 28 April 1998 and has a register charity number of 1069765 The principal objeGI of the company is to offer support and pracli¢al help lo visually impaired and blind persons and their families in SoutheThY-on-Sea. Essex. and Ihe adjoinirg areas. b. Methods of appointment or elgrtion of Trustees As sel out in the Articles of Association, one-third of the Truslees retire by rotalN)n al every Annual General Meeting. Subject lo the provisions ol the ACL the trustees lo retire by rotalion shall be those who have been longest in office since their last appointment or re appointmenl. ff the Charity, at the meeting at which a trustee retires by rotation, does not fill ihe vacancy. the retiring trustee shall. rf wlling to art, be deemed to have been re- appointed unless al the meeting il is resolved not lo fill the vacancy or unless a resolution QT the re-appoinlmenl of the Iruslee Is put to the meeting and lost. New TTUStees are appoinled who have the relevant knowledge and experience to act for the Charity- . Organlsational structure and deGisionrymaklng policies The number of Trustees musl not be less than three (unless olheNse delermined by ordinary resolution) but shall not be subject to any maximum number. The Board of TnJstees lMinISterS the charity and meets bi- monthly to discuss development. membership. finance and operations. A Chief Executive Officer is appointed by the Iruslees lo manage the day-to-day operations of the Charity to facilitate effective operation., the Chief Executive Officer has delegated authority, within the temis of delegation approved by the Trustees. for operational matters including certain financial matters, emOyMent and community services actNities. d. Policies adopted for the indudion and tralnlng of Trustees New Tnjstees undergo orientation and are briefed on their legal obligations under the Charity and Company Law, the content of the Memorandum and Artides of Aswciation, Ihe decision4aking prOSeS. business plan and recent financial perfomiance of the charity. During induction they meet key employees and other trustees. Trustees are encouraged to attend appropriate external training events which will facilrtate the undertaking of their role. e. Related party relationships The Charity works with the two local talking newspapers arKI ensures that their new51etters are recorded aTMI put on lo CD. They work wth Southen¢Y Borough Council Social Care, Age COnrn. SAVS, RNIB, Guide Dogs. Visionary, the Macular Society aTKI other related voluntary sector organisalions. The charity owns a subsidiary company called Soulhend Vision Twling Limited that operates a charity shop. f. Financial risk management The trustees have a risk management strategy v•hich cornprises.. An annual view of the risks that the charity may face, reVIej quartety Page 9
SOUTHEND IN SIGHT (A company limited by guarantoo) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Structure. governance and managamant {ntInUed) The eslablishmenl of systems and prOcureS lo milate those risks. The implementation of procedureg deSIgd to minimise any wtential impact on the charity should those risks materialise. Change of Namo As resolved at the AGM held on 28th October 2022. the name of the Charity has been changed from SoutheTKI Blind Weware Organisation lo Southend in Sight. Plans for future periods Prioritigs for 2023-2024". 1. No one faces sight loss unsupported. Offer a service that is professional. b"mely, personalised and a FM)silive experience. Provide support in all areas of life that have been affected by sight loss through our MOT tool. Enable people lo learn from others. share Kleas and gain Confiden in usiTrJ tech and other equipment that supports independence. 2. No one faces slght loss alone. Offer a range of activities that suit different ages and interests to reduce social isolation. Provide people with opportunities lo mix wrih peers, talk to volunleeTS and staff either in person or over the phone. To use our leaming and gain evidence to develop plans for a spxe lo hyjse soaal activtties and other services under one r(M)f. 3. Wo ar¢ in¢lusivg and avallable to all. All aspects of our services can be accessed and ulili*J. regardless of age. gender, social or ethnic background. We are commilled to a posrtive environment in which users of our serv. volunteers, employees and trust$ may experience a sense of belonging, respect and worth. Services are available to adults. children, young people. their families l (xrers and we are committed to safegLtarding peOe engaging with us. 4. Our finance, resources and Infrastructure moet the growlng need. Financial commitments are met wilh aged in(xfyme targets through grant funding, community fijndraislng and our charity shop. Our building is maintained and safe. Risks are managed and mitigated agairtst (new site. IT, health and safety, investments, funding. staffing I volunteer leve15 etc). A programme is in place for continued professional devdopment and SUssion planning. Growih areas for funding are identified to meet the increase in demand on services. Page 10
SOUTHEND IN SIGHT (A company limited by guarantoe) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Statement of Trustees. responslbllltl8s The Trustees {Ntho a also the directors of the Company for the purwses of company lawl are responsible for preparing the Trustees, report and the financial statements in accordance wlh apicable law and United Kingdom Accounting SlandaTds (United KingdoTn Generally Accepted Accounting Pradice). Company law requires the Trustees to prepare financkal statements for each financial . Under company law, the Trustees must not approve the financial slatemen15 unless they are satisfied that they gTve a true and fair view of the stale of affairs of the Company and of its incoming resources and application of resources, including its income and expenditUTe. for that period_ In prepariw these financial statements, the Trustees are required lo.. select suitable accounting policies arKI then apply them consislenlly. observe the methLKls and principles of the Charities SORP {FRS 102) make judgTnents and accounting estimates Ihal a reasonable and pmdenl.. slate whether applicable UK Accounting Standards (FRS 102) have been followed. subject to any material departures disclosed and explained in the finanual statements- prepare the financial statements on the Ing conrEm basis unless Ft is inappropriate to presume that the Companywll continue in business. The Trustees are responsible for keeping adUate accounting records that are sufficient lo show and explain the Company's Iransadions and disdose wlh reasonable acwracy at any lime the financial position of the Company and enable them lo ensure that the financkql statements comply the Companies Act 2006. They are also resporssible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. r of the members of the tM>ard of Trustees and signed on their behalf by. urton steel Date.. 25 October 2023 Page11
SOUTHEND IN SIGHT (A company limited by guaTant80) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2023 Indopendonl oxamineT'S report to the Trustees of Southend in Sight he Compan) I report to the charty TnJstees on my examinatK)n of the accounts of the Company for the year ended 31 March 2023. Responsibilltles and lS of report As the Trustees of the Company (and ils directors for the tKJrposes of company Lgw} you are responsible for the preparation of the accounts in accordan(* wrth the ruirements of the Companies Act 20061 the 2006 Act'l. Having sal¢sfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independenl examinatDn, I report in respect of my examination of the Companls accounts caTTied out under section 145 of the Charities Act 2011 Ilhe 2011 Acl'l. In carrying out my examination I have followe(I the DirectK)ns given by the Charity Commissw under $tion 145(51(b) of the 2011 Act. Indopondont examinerfs staternent Since the Companys gross income exceeded £250.0(KJ your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualrfied lo undertake the examination because l am a member of Th9 ASsocialn of Chartered Certtfied AccntantS. which is one of the liste¢Y bodies. I have completed my examination. I confimi that no matters have come to my attention in connection wrth the examination giving me cause to tleve.. accountiro records were not kept in respect of the Company as required by section 386 of the 2006 Act,. or the a(xounls do nol accord wtth those records., or the accounts do not comply wth the accountiThJ requirements of section 396 of the 2006 Act other than any requirement that the acwunts give a Irue and fairf view which is not a matter con5idere¢J as part of an independent examination.. or the account5 have T7Ot been prepar1 in CordanCe with the methods aT PriTKiples of the Statement of Recommended Practice for accounliTrJ and reportiThJ by charities lappli¢able to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)]. I have no concerns and have come &ross no other matters in connection the examination to which attention should be dra in this report in order to enable a proper lerStajlng of the accounts to be reached. Page 12
SOUTHEND IN SIGHT (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 This report is made solely to the Companys Tnjstees, as a tK)dy, in acCOr(lan wlh Part 4 of the Charities (Accounts and Rewrtsl Regulations 2008. My work has been undertaken so that I might slate lo the Companys Trustees those matters l am required to stste lo them in an Independent examinerfs report and for no olheT purpose. To the fullest extent permitted by law. I do not accept or assume responsibilty to anyone other than the Company and the Compan¥s Trustees as a body, for my work or for this report. Signed-. Trevor Mccarthy Dated.. 25 October 2023 FCCA Venthams Chartered Accountants Millhouse 32 - 38 East Street Rochfor(I Essex SS41DB Page 13
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SOUTHEND IN SIGHT (A Gompany lirnited by guarantee) BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Note Flxéd assets Tangible assets Investments 14 506.495 1,152,447 15 506.496 1.152,448 Current assets Debtors Investments Cash at bank and in hand 16 17,170 46,475 134,240 17 48.031 1.216.609 1.272.9T6 197.885 Creditors.. amounts falling due within on8 year 18 126.788) (248.776) Net current assets I Ilabllltes 1,24Q188 (5Q.891) Total assets less current Ilabilities 1.752.684 1. 101.557 Total net assets 1.752.684 1. 101,557 Charity funds Restricted fvnds Unrestricled funds 19 36.368 29,278 Designated funds General fund5 Revaluation werve 19 19 810,471 1.065.916 6.363 Total unreslricled funds 19 1.716.316 1,072,279 Totsl funds 1.752.684 1, lQl,557 Page 16
SOUTHEND IN SIGHT (A company Ilmited by guarantee) BALANCE SHEET (CONTINUED FOR THE YEAR ENDED 31 MARCH 2023 The Company was entitled lo exemption from audit urKler se¢lKJn 477 of the Companies Act 2006. The members have nol required the company to obtain an audit for the year in queslion in accordance with section 476 of Companies Act 2006. The Trustees acknovledge their reswnsibilities for complwng wth the requirements of the Act w.h respect to accounting records and preparation of finala1 statements. Th8 financial statements have been prepared in x¢(dance vthh the provisions appli(2ble lo entities subjeGt to the small companies regime. The financi nts were approved and authorised for issue by the TTUStees arnl signed on their behalf by.. urton Dale.. 25 October 2023 Page 17
SOUTHEND IN SIGHT (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accountlng pollcles 1.1 Basis of preparation of financial statements The financial statements have been prepared in accordance vthh the Chaiities SORP {FRS 102) - Accounting and Reporting by Charilies.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wlh the Financial Reporting Stsndard aptAicable in the UK and Republic of Ireland IFRS 102} (effective 1 January 2015}, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 and the Companies Act 2006. Southend in Suhl meets the definilion of a public beftt entity under FRS 102. Assets and liabilities are initTally recognised al historica cost or transaction value unless otheTwse stated in the relevant accounting policy. Consoli¢Yated financial statements have not prepar1 due to the investment in the Subsidiary being immaterial lo the financial statement as a whole. 1.2 Income All income is recognised On the Company has entittement to the income. il is probable that the income wll be received and the amount of income receivable can be measured reliably. The recc3nTtion of income from legacie5 is dependent on establishing entltlement, the pmbability of receipt and the abilrty lo estimate with sufficient CUra¢Y amount receivable. Evidence of entitlement to a legacy exists when the Company has sufficient evidence that a gift h8s been left lo them (through kno%edge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the pKopety in question will not be required lo satisfy claims in the estate. Receipt of a legacy must be recognised when il is probable that it will be received and the fair value of the amount receivable. which will generalty be the expecled cash amount lo be distributed lo the Company, can be reliably measured. Grants are irlded in the Statement of financial acliwlies on a receivable basis. The balance of income received for specrfic putposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is r1ved in advance of entitlement of receipt, Ils recognition is deferred and included in credtlors as deferred income_ Where enlitlemenl 0UrS before income is receNed. the income is accnjed. Income from charitable activities relates lo care home fess 7Vable. Income is recognised as and when invoices are raiwl for services provided Income tax recoverable in relation to donations received uThJer Grft Aid or deeds of covenant is recognised al the tirne of the donalion. Income lax recoverable in relation to investment inrAJTne is rniSed at the lime the investrnenl income is receivable. Page18
SOUTHEND IN SIGHT (A company limited by guarant) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accountlng policies {continugd) 1.3 Expendilurn Expenditure is recognised once there is a legal or constructive otJigatK)n to transfer economic benefit to a third paty, il is probable that a transfer of economic tenefils wll be required in settlement aThJ the amount of the obligation can be measured reliably. Expenditu is cla55rfied by activity. The costs of each activity are made up of the lolal of direct costs and shared costs. including support costs involved in undertaking each activity. Direct costs attributable lo a single activity are allocated directly to that activity. Shared costs which contribute to more than one activty and support costs which are not 8ttribulable lo a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs a allocated on the basis of lime spent and depreciation charges allocated on the portion of asset's use. Expenditure on raising funds indudes all expenditure inCued by the Company to raise funds for its charitable purw)ses and indudes costs of all fundraising acb"vities events and non-charilable trading. Expenditure on charitable activities is incurred on directly undertaking the aclivtties which further the Company's objectives. as well as any associated support costs. All expenditure is indusNe of irrecoverable VAT. 1.4 Interest receivable Interest on funds held on depostt is included when recetvable and the aTnount can be measured reliably by the Company,. this is normally upon noknfication of the interest paid or paydble by the institution with vthom Ihe funds are depostied. 1.5 Taxatlon The Company is considered lo pass the le5ts set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charilable compary for UK corpor21ion tax purposes. Accordingly, the Company is Frf)lenlially exeTllPt from taxation in respect of income or capital gains received wrthin calegories covered by Chapter 3 Part 11 of the Corporation Tax Aol 2010 or Section 256 of th8 Taxation of Ch2rgeable Gains Act 1992. to the extent that such income or gains are applied exdusively lo charitable purwses. 1.6 Tangiblè Ilxed assets and depreciation Tangible fLxed assets costing £4Tr) or more are capitali1 and recconised when fvlure economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are inttially recogni5ed at cost. After recognilion. under the cost rne1. tangible fixed assets are measured al ¢ost less xcumulated depreciation and any accumulated impairment losses. All costs incurred lo Ing a tangible fixed asset into tts intended working condition should be induded in the measurement of cost. Page 19
SOUThEND IN SIGHT IA company limited by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 A¢¢ountlng pollcles {¢ontinu0d) 1.6 Tanglble flxed assets and depreclatlon Icontinued) Depreciation is chard so as lo all(ate the (x>st of langible fixed assets less their residual value over Iheir estimated useful lives, DeplatIOn is provided on the follovmng bases- Freehold property Plant and machinery Fixtures and fittings Offre equipment Other fixed assets not deprecialed 12.5°/o reduryng balance IO% rJUCing balance IO% rU¢1n9 balance The market values of the freehold properti8s are considered to be In excesg of the book values held in the financial statements, therefore charging depreciaiton on these properties is not considered appropriate. 1.7 Invostmonts Current asset investments are a forni of financial instrument and are initially recognised at their transaction cost and subsequenvy measured at fair value at the Balance sheet dale, unless the vaSue Cannot be Tneasured reliably in which case it is measured at cost less impairment. Investment gains and losses. whether realised or unrealised, are combined and presented as 'GainsllLossesl on inveslmenls, in the Statement of financial activities. Investments in subsidtaries are walued al cost less provision for impaim)enl. 1.8 Debtors Trade and other debtors are recognlsed at the settlement amount after any trade discount offeTeif. Prepayments are valued at the amount prepaid net of any trade discounts due. 1.9 Cash at bank and in hand Cash at bank and in hand includes cash and short-temi highly liquid inveslrnents th a short maturity of three months or les5 from the date of wuisilion or opening of the deposit or similar account. 1.10 Llabilitles and provisions Liabilities are recognised when there is an obligation al 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 re1k8tY. LiabilrtÈes are recognised at the amount that the Company anlicipates it wll pay lo settle the debt or the amount it has recewed as advanced payments for the g)ods or services il must provKIe. 1.11 Flnanclal Instruments The Company only has finarKial assets and financial liabiltknes of a kind that qualify as basic financial instruments. 8asic financial instruments are initially recognised al transaction value and subsequently measured at their setuement value vath the exception of bank loans which are subsequently measured at amortised cost using the effectNe interest methc#Y. Page 20
SOUTHEND IN SIGHT {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accounting policias (continued) 1.12 Pensions The Company operates a defined contribuhon pension scheme and the p8nsion charge represents the amounts payable by the Company lo the fund in respect of the year. 1.13 Fund accounting General funds are unrestrTCted funds which are available for use at the discretion of the Trustees in furtherance of the general 0.ectiveS of the Company and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been sel aside by Ihe Trustees for particular purposes_ The aim and use of gach deSnated fund is set out in the notes to the financial statements. Reslricled furKls are funds which are to be used in CordanCe wth SpecEC restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are Gharged against the specrfic furnl. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income. gains an¢Y losses are allocated to the appropriate fund. Ganeral Inforniatlon Southend in Sight previously operating as Southend-on-sea Blind Weffare Organiation, is a Gharitable company limrted by guarantee. The members of the company are those recorded in the register of members of the company. In the event of the company beirvJ wound up, the liabiltty in resptr£l of the guarantee is limited to £10 per member of the company. The company is registered in England and Wales. The (mpanIS registered office address is Millhouse. 32-38 East Street. Rochford. Essex. SS4 1 DB. Income from donations and legacles unrestrict Restricted funds funds 2023 2023 Total funds 2023 Total funds 2022 Donations Legacies Grants 112,197 18.863 115,272 227.469 18,863 218.797 3,830 4,858 Total 2023 131,560 115.272 246.832 227,485 rotsl 2022 124,788 102,697 227.485 Page 21
SOLrrHEND IN SIGHT (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Inwne from charltable activities Unrestricted fvnds 2023 Total funds 2023 To181 funds 2022 Community services Residential home 3.794 (3,206) 3.794 {3.206) 400,311 Totsl 2023 588 400.31t Total 2022 400.311 400,311 Following the closure of Residential h)me all resident1 )rne income is rKxv shown as a discontinued operation in the Statement of Financial AGtNrties. Page 22
SOUTHEND IN SIGFrr (A Gompany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Income from other trading artivities Income from non ¢harltable trading acllvities Unrestrictod funds 2023 Total funds 2023 Total funds 2022 Charity operating in(xJme 29.737 29,737 28,965 Total 2022 28.965 28,965 Investment Income Unrostricted funds 2023 Total funds 2023 Total fvnds 2022 Income from listed investments Investrnent income - local cash 511 5.159 5.159 5.839 5.839 511 Total 2022 571 511 Expenditure on raising funds Costs of raising voluntary Income Unrestricted funds 2023 Total funds 2023 Total funds 2022 Fundraising 3.225 3,225 2,189 Total 2022 2.189 2,189 Page 23
SOUTHEND IN SIGHT {A cornpany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Expendilure on ralslng funds (¢ontlnued) Fundralslng tradlng expen UnTestricted Restricted funds fvnds 2023 2023 Total funds 2023 Total funds 2022 Training Cost of Equipment Sales 180 5.495 999 27,462 5.495 Total 2023 5.675 5.675 28,371 Total 2022 28.054 317 28,371 Investm&nt management costs Unrestricted funds 2023 Total funds 2023 Total funds 2022 Portfolio Management 505 505 724 Totsl 2022 724 724 Page 24
SOUTHEND IN SIGHT (A company limtted by guaranleo) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Analysis of expondlture on charitable artivities Summary by fund type Unrestrictgd Restricted lunds funds 2023 2023 Total 2023 Tot81 2022 Community 5eMces Residential home 175.540 21.$92 108.182 283,722 21.592 211,537 740.017 197.132 108,182 305,314 951,554 Total 2022 878,452 73,102 951.554 FolloNwng the closure of the Residential home all residential home expendrture is now shown as a discoTrlinued operation in the Statement of Financial Activities. Summary by expenditure type Staff costs Other costs 2023 2023 Total 2023 Total 2022 Community services Residential home 150.300 3,445 133,422 18,147 283,722 21.592 211,537 740.017 153.745 151,569 305.314 951.554 Total 2022 713,815 237, 739 951.554 Page 25
soirrHEND IN SIGF (A company limitgd by guaranlee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 10. Analysis of expenditure by actlvltles Actlvlties undertaken directly 2023 Support costs 2023 Total funds 2023 Tol81 funds 2022 Community services Residential home 226,137 17.275 57,585 4.317 283,722 21,592 211,537 740,017 243.412 61.902 305,314 951.554 Total 2022 880.208 71,346 951.554 Analysis of dir•ct costs Community Residential services hom 2023 Total funds 2023 Total funds 2022 2023 Slaff costs 150,300 62,263 3.445 13,830 153,745 76.093 713,815 127,562 487 Premises costs Subscriplior Residents, supplies Social events and newsletters Volunteers. expenses Depreciation of tangible rtxed asets Training 25.979 4,288 652 10.230 1,685 1.659 10.230 1.685 1.659 7,794 231 226.137 17.275 243,412 880,208 Total 2022 175. 797 704,411 880.208 Page 26
SOUTHEND IN SIGHT (A company limited by guarantgo) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 hlARCH 2023 10. Analysi8 of gxpenditure by activities (continued) Analysis of support costs Community Residential services home 2023 2023 Total funds 2023 Total funds 2022 Subscriptions Telephone Postsge and stslionery Advertising Accountancy Travel and subsistence Sundry Bank Charges Loan interest Legal and professional fees Independent Examinerfs l Auditorfs remuneration Trustees expenses rgimbursed 115 2.527 2.527 6.463 2.574 22,262 406 150 3,174 4,992 2,419 26.176 176 1,078 3.351 6.904 19,711 175 19.618 2.644 15.386 3.230 15.386 4.728 1.498 3,480 3,240 10 57.585 4.317 61,902 Tl,346 Total 2022 35,740 35,606 71.346 11. Indepandent oxaminerfs rgrnunoratlon 2023 2022 Fees payable to the Companrfs independent examiner for the independent examination of the Compan$ annual accounts. 3.240 Page 27
soimiEND IN SIGHT IA company limited by guarant•o) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 12. Staff costs 2023 2022 Wages and salaries Social securtty costs Contribution to define(I contribution Fension schemes 143,478 7,168 663.390 38,850 11,ST5 153.745 713,815 The average number of persons emplo by the Company during the year Yrds as follows.. 2023 No. 2022 Direct Charitable work Administration and governance 30 10 33 No employee received remuneration amountirKJ to more than £60.OtK) in ether year. 13. Trustees. remuneTatSon and expenses During the yEar, no Trustees received any remuneratK)n or other benefrts (2022- £NIL). During the year ended 31 March 2023. expenses tolalling £NIL were reimbursed or paid directly to a Trustee (2022- £101. Page 28
SOLMIEND IN SIGHT (A Company Ilmited by guarante¢) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 14. Tangible fixed assets Assets held for sale Freehold Plant and Property machinory equlpment Total Cost or valuation Al 1 April 2022 Addrtions Disposals 491.698 5,298 27.613 433 839.110 1.363,719 433 1839.110) {839,110) Al 31 March 2023 491.698 5,298 28.046 525,042 Depreciation Al 1 April 2022 Charge for the year On disposals 3.902 175 12,986 194.384 211.272 1,659 {194,384) (194.3841 Al 31 March 2023 4,077 14.470 18.547 Not book value At 31 March 2023 491.698 1,221 13,576 506.495 At 31 M8rch 2022 491.698 1.396 14,627 644.726 1, 152,447 Page 29
SOUTHEND IN SIGFft (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 15. Fixed asset investments Investments in subsidiary companies Cost or valuation Al 1 April 2022 At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022 16. Deblors 2023 2022 Due within one year Trade debtors Other debtors PrepayTnents and accrued income 783 11,421 60 5,689 60 7.493 8.336 17,170 17. Current asset investments 2023 2022 Listed investments 48,031 46,475 Page 30
SOUTHEND IN SIGHT (A company limitad by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 18. Credltors: Amounts falllng dug within one year 2023 2022 Bank loans Trade creditors Other taxation and social security Other creditors Accruals and deferred income 206,904 27,738 2,104 5.598 6.432 12.S21 2,636 5,019 6.612 26,788 248,776 Page 31
SOUThEND IN SIGHT (A cornpany lirnited by guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 19. Ststomont of fund$ Statement of funds - current yoar Balance at 31 March 2023 Balance at 1 April 2022 Transfers inlout Gainsl (Losses) Ift1e Expgnditure Unrestricted funds Designated funds Property Development 900.000 900,000 Ggneral funds General Funds Revalualio reserve 1.065.916 167,724 1206,537) {900.000) 683,368 810.471 6.363 (518) 3.845 1.072.279 167.724 (206.537) {900,000} 682.850 816.316 Total Unregtrfcted funds 1.072.279 167,724 {20Q537) 682.850 1.716,316 Page 32
SOUTHEND IN SIGHT IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 19. Statement of funds (continued) Balance al 31 March 2023 Balance al 1 Aprfl 2022 Transfers inlout Galnsl {Loss8s) Inc¢xne Expenditure Rostrlcted funds Centre & C5ub room refurbishment Eye Clinic Liaison Officer Essex Community Foundab'on - Running Costs Community investment board Essex Community Foundation NHS Lottery Masons Screwfix Will Charitable Trust 32,928 (32,9281 8.IM)O 1&6661 1,334 9,591 9.591 2.57S 16.239 4.167 826 4.000 50,753 10,000 {6,430) (45,8601 (10,000) (8261 145 21.132 4,167 5,471 {5.4721 11) 29,278 115.272 (108.182) 36.368 Page 33
SOUTHEND IN SIGHT (A company limited by guaranteo) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 19. Statement of funds l¢ontinued) Statement of funds - prior year Balance al 31 March 2022 Balance al l Aprd 2021 Gains/ (Losses) Incon7e ExKenditure UnrestTi¢ted funds General Funds Revaluation reserve 1.419.344 6,633 554,575 (909.419) 1.416 (270) 1,065.976 6,363 1.425.977 554.575 (909.419) 1. 146 1,072,279 Balance al 31 March 2022 8alanGe al I 2021 Gain (Losses) Incon Expenditure Restrlcted funds Eye Clinic Liaison oFfir Essex Community Foundation - NHS Lottery Masons Screwfix Will Charitable Trust 27.608 (27,608) 6,375 47.774 10.0(XI 5.OLXI (3.800) (31.475) (5.833) (4. 174) (1,529) 2.575 16.239 4,167 826 5,471 103.697 (74,419) 29.278 Page 34
SOUTHEND IN SIGHT (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 20. Summary of fund¥ Summary of funds - current year Balanco at 31 March 2023 Balance at 1 April 2022 Transfers inlout Gainsl (Loss•sl Incomè Exwnditurg Designated funds General funds Restricted funds 900.000 1206,537) (900.000) (108.182) 900.000 816.316 36.368 1,072,279 29.278 167,724 115,272 682.850 1.101.557 282.996 1314,719) 682.850 1,752.684 Summary of funds - prfor yeaT Balance al 31 March 2022 Balan al l Apn"12021 G8lns/ (Losses) General funds Restricted funds 1.425.977 554.575 103,697 (909.419) (74,419) 1,146 1.072,279 29.278 1.425.977 658.272 (983,838) 1, 146 1, 101,557 21. Analysis of net assets between funds Analysls of net assets between funds- currenl year Unrestri¢tod Restrlcted funds funds 2023 2023 Total funds 2023 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year 506.495 506,495 1.236.608 (26.788) 36,368 1.272.976 {26.7881 Total 1.716.316 36,368 1,752.684 Page 35
SOUTHEND IN SIGHT (A company limited by guarant99) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 21. Anaty81s of net etS between funds (conlinued) Analysls of net assets between funds - prfor year UTrTsthcted fvnds 2022 Restricted fvnds 2022 Total funds 2022 Tangible fixed assets Fixed asset investments Current assets Creditors due wthin one year 1,152,447 i.t52,447 168.607 (248.776) 29.278 197,885 (248. 776) Total 1.072.279 29.278 1,101,557 22. Relatod party transactions During the year the chairty reIVed donations from Southend Vision Trading Lld. a wholly owned subsidiary of the charity, lotalling £54.467 {2022= £56,779)- 23. Controlling party The charity is a company limited by guarantee and had no ultimate controlling party. In the event that the charity Is wound up. each current member land any member who has ceased lo be a member within one year) agrees to contribute a maximum of ten tx)unds lo assets of the charity. Page 36
soittHEND IN SIGHT (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 24. Principal subsldlaries The following was a subsNJiary undertaking of the Company.. Name Company numbor Reglstarad office Principal aGtivlty Southend Vision Trading Limtted 06388803 (1 IXJ% owned subsidiary) MilltrN)use. 32-38 East Stree( Rochford. Essex SS4 1 DB Charrty Shop The financial results of the subsidiary for the year We.. Name Net assets Southend Vision Tradiry Limited1100% owned subsidiary> Page 37