Registered number. 03554422 Charity number: 1069765 SOUTHEND IN SIGHT (A company limited by guarantse) (Fornierly Southend on Sea Blind Welfare Organisatlon) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 VINTH/MS
SOUTHEND IN SIGHT (A company limited by guarantee) CONTENTS Page R6ference and admlnlstratlve detalls of the Company, its Trustees and advisers Trustees. report 3-10 Independent examinerfs report Statemènt of financial activitles 13-14 Balance sheet 15-16 Notes to the financial statements 17-32
SOUTHEND IN SIGHT (A company limited by guarant86) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COP41PANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Trustees R O Cable, Chairman S Cooper, Vice Chairman J A Davenport S Davies C L McLewin D E Wacogne P G Warburton, Secretary P J Hefferan (appointed 6 March 2024) Company reglstered number 03554422 Charlty reglstered number 1069765 Registered office Millhouse 32-38 East street Rochford Essex SS4 1DB Company secretary P G Warburton Chief 6x6cutlve offlcer L Martin Accountants Venthams Chartered Accountants Millhouse 32 - 38 East Street Rochford Essex SS4 1DB Bankars HSBC Bank PLC 48 High Street Raylelgh Essex SS6 7JH Page 1
SOUTHEND IN SIGHT (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Inv8stm6nt manag8rs EvelyTr Partners 16th & 17th Floor 6 New Street Square New Fetter Lane London EC4A 3BF Page 2
SOUTHEND IN SIGHT (A company Ilmlted by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their annual report together with the financial statements of the Company for the 1 April 2024 to 31 March 2025. The Annual report serves the purposes of both a Trustees, report and a Dire¢tors' 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 Republio of Ireland (FRS102) (effective 1 January 2019). Sinc8 the Company 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. Objoctives and activities a. Policies and objectives The objectives of the charity are.. To support and offer practical help to visually impaired people and their families in Southend-on-sea and the adjoining areas To develop other charitable activities that are conducive or ancillary to these objects. The charity has a general aim of providing practical help to visually impaired people in the general area of Southend. Southend in Sight Advice Centre: The Centre offers people living with sight loss opportunities to try out a large range of specialist low vision equipment including CCTV magnifiers, talking books players, task lighting and many other aids to support independent living. This equipment is demonstrated by a team of staff and volunteers and a Tech Team give specialist advice on i-pads, tablets and mobile phones. Assistance has also been provided for people needing fonns filled in for Attendance Allowance, PIP and Blue Badges. The staff use an assessment tool called the Sight Loss MOT which enables the Sight Loss Advice Manager to work with people more holistically looking at how their sight loss has impacted different areas of their life. A project with Cadent has continued and enabled the team to offer advice on energy saving during the cost-of-living crisis. Hospital Services: An Eye Clinic Liaison Officer (ECLO) is employed by Southend in Sight and funded by the Mid and South Essex Hospital Trust to provide full time support at Southend Hospital Eye Clinic for those patients who are in the early days of their sight loss journey. The ECLO helps with processing Certificates of Visually Impairnient and provides the necessary emotional support in the difficult early days. They also sign post to other services and make referrals as necessary. Social Activities and Talk and Support.. Social activities remain popular as people living with sight loss can experien feelings of isolation. Coffee mornings and a Fun Friday session, with entertainment, are run once a month at a local S¢xial club. Weekly ten pin bowling sessions have continued in Hockley and is well attended, Other activities include a talking books club, line dancing, and a choir. Funding from the Southend Community Investment Board has been very much appreciated to keep these groups running. The Talk and Support Service continues to be supported by 10 volunteers and helps reduce isolation for people who can feel lonely living with slght loss. Children and Young People:Support for children. young people and their families continues with social gatherings offered during the year including a very popular subsidised trip to the pantomime at the Cliffs Pavilion. Other activities for children have included ten pin bowling, Animal Encounters and Just Ride sessions. All of our sight loss services are available to children, young people and their families and any requests for support are dealt with on an individual basis. Page 3
SOUTHEND IN SIGHT (A Gompany limited by guarantee} TRUSTEES. REPORT (CONTINUED) FOR THEYEAR ENDED 31 MARCH 2025 Objectivas and activities {contlnued} Information and Training: The organisation gives timely infonnation. advice and guidance on all areas of sight loss. The equipment loan scheme continues to run and gives people the opportunity to borrow expensive items such as CCTVS. Guiding Training has also been offered on a regular basis to new staff and volunteers to give them the necessary skills to guide service users at events, activities and on site. b. Actlvltles undertaken to achleve objectives The strategies employed to achieve the charitys objectives are.. 1. To promote the Centre and services to all visually impaired people in the area and offer the Sight Loss MOT tool to assist in providing full support in all aspects of lrfe. 2. To offer a range of activities so that visually impaired people have the chance to gain from experiences and meet others in the same position. 3. To provide opportunities for clients to engage in activities to redu isolation. 4. To provide opportunities to try equipment that may help visually impaired people to continue an independent life in their own homes including advice on accessing IT. A newsletter is also produced four times a year providing informatlon on a range of areas relevant to members. 5. To train and support volunteers to assist and support vlsually impaired people and encourage peer support. This involves recruiting volunteers who have experience of living wth sight loss. 6. To present a range of activities and opportunities which are both popular with visually impaired people and respond to their requests and needs. 7. To support the ECLO service at Southend Hospital Eye Clinic to help people in the early stages of sight loss navigate their way around services and secure funding to sustain the service. 8. To offer volunteering opportunities to the local community for the benefit of visually impaired people. 9. To build a relationship with local families who have visually impaired children, promote the Charity and meet regularly. c. Volunteers The Charity is grateful for the invaluable efforts of its volunteers who are involved in service delivery, the charity shop and fundraising. There are approximately 70 active volunteers, and some are visually impaired themselves. The visually impaired volunteers are extremely well placed to support others in the same position and this peer support is extremely valuable, Volunteers working with service users have been given Guiding Training and are held in high regard at the charity. They are given long service awards and meet four times during the year for information sessions and celebratlons. Page 4
SOUTHEND IN SIGHT (A company Ilmited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Objectives and actlvltles {contSnued) d. Main activities undèrtaken to further the Company's purposes for the public beneflt The Trustees are mindful of their duty under section 17 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit. The objectives and activities of Southend in Sight focus on delivering services to aid the visually impaired in their daily living and are undertaken to further our charitable purposes for the public benefit. Achievements and pèrformance a. Key performance indicators Budgets are set annually, and meetings are held with Trustees on a quarterly basis to monitor budgets against forecasts. South8nd in Sight has support from the Trustees and financial statements are produced regularly to manage the finances effectively. and take action if necessary. b. Revlew of actlvltles This year, at the advice Centre, the charity has: provided 1.473 sessions of support at our Centre for 503 individuals on their slght loss journey. welcomed 140 new individuals to the Charity. helped 29 people with form filling over 32 and Caled out 39 support sessions. supported 74 individuals with 114 face to face sessions of Tech support. carried out 95 Sight Loss MOTS and held 35 drop in advice sessions with peer support, At Southend Hospital Eye Clinic our Eye Clinic Liaison Officer has supported those in the early days of their diagnosis. During the year th8y have: helped 1.103 patients with support and guidance and held 1.778 sessions of support. supported 683 relatives I carers and processed 155 Certificates of Visual Impairment. For those who could be feeling isolated and want to meet others. the Charity has.. provided 76 activities for adults and held 39 ten pin bowling sessions. offered 11 activities for children and young people including a trip to the pantomime and ten pin bowling. carried out 16 home visits and made 1,501 Talk and Support calls. Page 5
SOUTHEND IN SIGHT (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Achievements and perfomianco (continued) c. Fundralsing Grants have been received through a number of large national and local funding organisations and programmes. Generous support has been received from local groups, clubs and organisations. A number of legacies and gifts in memory have also been gratefully received. The Charity Shop, which is run by Southend Vision Trading Ltd, continues to be very popular and is open six days per week. Income (after expenses) this year was £46.233 which was donated to the Charity. d. Investment pollcy and perfonnance The Articles of Asso¢iatlon give the Trustees unrestricted powers to invest the funds as they see fit. Evelyn Partners (formerly Tilney Asset Management Services Ltd.), continue the management of funds on a medium risk basis. The investment performance of the fund manager is benchmarked against the WM Unconstrained Index. Investments are managed on a medium risk basis with emphasis on an above average level of income and the growth of that income. This will be achieved primarily through investment in a combination of bonds and higher income equities. The aim will be to achieve returns through a combination of capital appreciation and income reIved. Flnancial review a. Golng 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. b. Reservas policy The reserves policy continues to be the maintenance of sufficient reserves to continue the existing services, and protect the future needs of the charity. The Trustees have considered.. Flnancial Risk The risk of reduced income due to intermittent grant funding. The rlsk of unplanned events. The unpredictability of communityfundraising including charity shop sales. Ceaslng to operate The Cost of winding up the Charity should it cease to operate. Page 6
SOUTHEND IN SIGHT (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Infrastructure The suitability of the property at 117 Hamlet Court Road and whether it will meet the demands of the longer- term plans. In this connection the Charity has recently moved to premises in central Southend on Sea and it is proposed to sell the property in Hamlet Court Road. Strategic Direction The future direction of the charity to meet the changing needs of the local visually impaired community. The opportunity to invest in I seed new projects to meet growing needs and increase funding. The long-term plan to bring activities together under one roof at a new site. R8serv•s braakdown Unrestricted Funds: These are income or income funds which can be spent at the discretion of the Trustees in furtheran of any of the charity's objects. If part of an unrestricted income fund is earmarked for a particular project it may be designated as a separate fund, but the designation is administrative only and does not restrict the Trustees, discretion to utilising the fund. After allocRting an amount to a Designated Fund, the amount of Unrestricted Funds 31 st March 2025, totalled £848,861. Of that figure, £503,912 was represented by fixed assets resulting free reserves at 31 st March 2025 of £344,949. The Trustees consider this to be adequate to run the day-to4ay affairs of the Charity. Designated Funds: These are part of the unrestrlcted funds which The Trustees have earmarked for particular projects. without restricting or committing the funds legally. At 31 st March 2025 these amounted to £844,870, and represent an estimate of essential works to be undertaken to the properties occupied by the Charity in order to keep them in a good state of repair, and the anticipated cost of purchasing an additional property. Restricted Funds: These are funds subject to specrfic trusts. which may be declared by the donors or created through legal process. At 31 st March 2025 these stood at £22.951. c. Flnancial rlsk management obJ&ctivas and policles The results are set out in the summary'income and expenditure. and show a deficit for the year of £1,349. The Trustees consider that the assets of the Charity are adequate to fulfil its obligations for the foreseeable future. d. Princlpal funding The prlncipal fundlng sources of the charity are grants, legacies, donations, and the proceeds of shop sales from the charity shop in Hamlet Court Road. Structure, governance and management a. Constitution The company is registered as a charitable company limited by guarantee, with a company number of 03554422. Page 7
SOUTHEND IN SIGHT (A company Ilmlted by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 structure, governance and management (continued) The company is constituted under a Memorandum of Association dated 28 April 1998 and has a registered charity number of 1069765. The principal object of the company is to offer support and practical help to visually impaired and blind persons and their families in Southend-on-sea. Essex, and the adjoining areas. b. Methods of appointment or election of Trustees As set out in the Articles of Association, one-third of the Trustees retire by rotation at every Annual General Meeting. Subject to the provisions of the Act, the trustees to retire by rotation shall be those who have been longest in office since their last appointment or re appointment. If the Charity. at the meeting at which a trustee retires by rotation. does not fill the vacancy, the retiring trustee shall. if willing to act. be deemed to have been re-appolnted unless at the meeting it is resolved not to fill the vacancy or unless a resolution or the re- appointment of the trustee is put to the meeting and lost. New Trustees are appointed who have the relevant knowledge and experience to act for the Charity. c. Organisational structure and declslon-maklng policies The number of Trustees must not be less than three (unless otherwlse determined by ordinary resolution) but shall not be subject to any maximum number. The Board of Trustees administers the charity and meets bi- monthly to discuss development, membership, finance and operations. A Chief Executive Officer is appointed by the trustees to manage the day-to-day operations of the Charity to facilitate effective operation,. the Chief Executive Officer has delegated authority. within the terms of delegation approved by the Trustees, for operational matters including certain financial matters, employment and community services activities. d. Pollcles adopted for the induction and tralnlng of Trustees New Trustees undergo orientation and are briefed on their legal obligations under the Charity and Company Law. the content of the Memorandum and Articles of Association, the decision-taking processes, business plan and recent financial performance of the charity. During induction they meet key employees and other trustees. Trustees are encouraged to attend appropriate external training events which will facilitate the undertaking of their role. e. Rolatad party relatlonshlps The Charity works with the two local talking newspapers and ensures that their newsletters are recorded and put on to CD. They work with Southend City Council, ECL. Age Concern, Citizens Advice Bureaux, SAVS, RNIB, Guide Dogs, Visionary, the Macular Society and other related voluntary sector organisations. They are part of a working partnership with other Essex sight loss charities called Essex Vision. The charity owns a subsidiary company called Southend Vision Trading Limited that operates a charity shop. f. Flnanclal rlsk management The trustees have a risk management strategy which comprises: An annual view of the risks that the charity may face, reviewed quarterly The establishment of systems and procedures to mitigate those risks. The implementation of procedures designed to minimise any potentlal impact on the charity should those risks materialise. Page 8
SOUTHEND IN SIGHT (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Structure, govemance and manag6m6nt (contlnued) Plans for future periods Future developments The Chairty has been considering Its long term aims and whether the propety at 117 Hamlet Court Road is suitable. A decision was made to sell the property, retain the charity shop and relocate front line services to a larger more accessible space with better access. The priorities of the Charity are: 1. No one faces sight loss unsupported. Offer a service that is professional, timely, personalised and a positive experience. Provide support in all areas of life that have been affected by sight loss through our MOT tool. Enable people to learn from others. share ideas and gain confidence in using tech and other equipment that supports independence. 2. No one faces sight loss alone. Offer a range of activities that suit different ages and interests to reduce social isolation. Provide people with opportunities to mix with peers, talk to volunteers and staff either in person or over the phone. To use our learning and gain evidence to develop plans for a space to house social activities and other services under one roof. 3. We are inclusive and available to all. All aspects of our services can be accessed and utilised, regard5ess of age. gender. social or ethnic background. We are committed to a positive environment in which users ()f our servi, volunteers, employees and trustees may experience a sense of belonging, respect and worth. Services are available to adults, children, young people, their families I carers and we are committed to safeguarding people engaging with us. 4. Our finance, resources and infrastructure meet the growing need. Financial commitments are met with agreed income targets through grant funding. community fundraising and our charity shop. Our building is maintained and safe. Risks are managed and reviewed quarterly. A programme is in place for continued professional development and succession planning. Growth areas for funding are identified to meet the increase in demand on services. Page 9
SOUTHEND IN SIGHT (A company limlted by guarantee} TRUSTEES, REPORT {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 Statèmènt of Trustees. responslblllties The Trustees (who are also the directors of the Company 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 Practi). Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistently. observe the methods and principles of the Charities SORP (FRS 102) make Judgments and accounting estimates that are reasonable and prudent" state whether applicable UK Accounting Standards (FRS 102> have been followed, subject to any material departures disclosed and explained in the financial statements,. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Companys transactions and disclose with reasonable accuracy at any time the financial position of the 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 Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Ap er of the members of the board of Trustees and signed on their behalf by: on (Trustee) Page 10
SOUTHEND IN SIGHT (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025 Indep8nd6nt examlnerfs report to the Trustees of Southand in Sight ('the Company.) I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 March 2025. Responslbllltles and basls of report As the Trustees of the Company (and its dlrectors 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 Company 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 Company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carying 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 statomgnt Since the Companys 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 l am qualified to undertake the examination because l am a member of The Association of Chartered Certified Accountants, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection wth the examination giving me cause to believe.. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act,, or the accounts do not accord with those records. or the acLounts do not comply wth the accountlng requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination.. or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practi for accounting and reporting by charities lapplicable to charities preparing their accounts in accordance with the Financia1 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. Page11
SOUTHEND IN SIGHT (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 WIARCH 2025 This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities {Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company's Trustees those matters l am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility 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.. 2 FCCA Venthams Chartered Accountsnts Millhouse 32 - 38 East Stre@t Rochford Essex SS4 1DB Page 12
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SOUTHEND IN SIGHT (A company limited by guarante8) BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Note Flxed assets Tangible assets Investments 14 15 503,911 503,934 503,912 503,935 Current assets Debtors Investments Cash at bank and in hand 16 17 17.665 277,101 967,563 33,977 270,568 963,415 1,262,329 1,267,960 Creditors: amounls falling due within one year 18 (19,346) (26,084) Net current assets 1,242,983 1,241,876 Total assets less current liabiliti85 1,746.895 1,745,811 Total ngt asséts 1,746,895 1,745.811 Charity funds Restricted funds Unrestricted funds 19 22.951 38.896 Designated funds General funds Revaluation reserve 19 844870 848,861 30,213 849,202 834.033 23,680 19 Total unrestricted funds 19 1,723,944 1,706,915 Total funds 1,746,895 1,745,811 Page 15
SOUTHEND IN SIGHT (A company limited by guarantee) BALANCE SHEET (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The Company 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. rhe 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- rus ee) Date: 29 /,.1203C Page 16
SOUTHEND IN SIGHT (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles 1.1 Basis of preparatlon of flnanclal 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 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Southend in Sight 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. Consolidated financial statements have not been prepared due to the investment in the subsidiary being immaterial to the financial statement as a whole. 1.2 Incomo All income is recognised once the Company has entitlement to the income. It is probable that the incorne will be received and the amount of income re7vable can be measured reliably. The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Company has sufficient evidenGe that a gift has been left to them (through knowledge of the existence of a valid wll and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable. which will generally be the expected cash amount to be distributed to the Company, can be reliably measured. Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. Income from charitable activities relates to care home fess receivable. Income is recognised as and when invoices are raised for services provided Income tax recoverable in relation to donations received under Grft Ald or deeds of covenant is recognised at the time of the donation. Income tax recoverable in relation to investment income is recognised at the time the investment income is re1Vable. Page 17
SOUTHEND IN SIGHT (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles (contlnued) 1.3 Expenditure Expenditure is recognlsed 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 activty are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on raising funds includes all expenditure incurred by the Company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading. Expenditure on charitabSe activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. 1.4 Interest receivable Income from interest, royalties and dividends is recognised when its receipt is probable and the amount receivable can be measured reliably. 1.5 Taxation The Company 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 Company 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. 1.6 Tangible fixed assets and d8proclation Tangible fixed ass8ts costing £400 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 worklng condition should be included in the measurement of cost. Page18
SOUTHEND IN SIGHT (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (continued) 1.6 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, Depreciation is provided on the following bases.. Freehold property Plant and machinery Office equipment not depreciated 12.50/0 reducing balance 100/0 reducing balance The market values of the freehold properties are considered to be in excess of the book values held in the financial statements, therefore Gharging depreciaiton on these properties is not considered appropriate. 1.7 Investments Current asset investments are a form of financial instrument and are initially recognised at their transactlon cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised. are combined and presented as 'Gainsl{Losses) on investments. in the Statement of financial activities. Investments in subsidiaries are valued at cost less provision for impairment. 1.8 Debtors Trade and other debtors are recognised at the settlement amount after any trade dlscount offered. Prepayments are valued at the amount prepaid net of anytrade discounts due. 1.9 Cash at bank and In hand Cash at bank and in hand includes cash and short-term highly Ilquid investments wtth a short maturity of thre8 months or less from the date of acquisition or opening of the deposit or similar account. 1.10 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 wll be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Company 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. 1.11 Financial instruments The Company only has financial assets and financial liabiltties of a kind that qualTfy as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value wth the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Page 19
SOUTHEND IN SIGHT (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles (continued) 1.12 Pensions The Company operates a defined contribution pension scherne and the pension charge represents the amounts payable by the Company to the fund in respect of the year. 1.13 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 Company 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 specrfic restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the speclfic fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. General information Southend in Sight previously operating as Southend-on-sea Blind Welfare Organiation, is a Gharitable company limited by guarantee. The members of the Company are those recorded in the register of members of the company. In the event of the company being wound up, the liability in respcet of the guarantee is limited to £10 per member of the company. The company is registered in England and Wales. The companls registered office address is Millhouse, 32-38 East Street, Rochford, Essex, SS4 1 DB. Income from donations and16gacles Unrastricted Restrlcted funds funds 2025 2025 Total funds 2025 Total fvnds 2024 Donations Legacies Grants 79,384 37,359 52,164 89,191 168,575 37,359 52,164 185,879 25, 000 35,000 Total 2025 168,907 89,191 258,098 245,879 Total 2024 152, 683 93.196 245,879 Page 20
SOUTHEND IN SIGHT (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Income from charitable activities Unrestricted funds 2025 Total funds 2025 Total fvnds 2024 Community services 7,236 7.236 4,095 Total 2024 4, 095 4,095 Following the closure of the Residential home, all residential home income is now shown as a discontinued operation in the Statement of Financial Activities. Income from other trading actlvltles Income from non charitable trading actlvltles Unrestrlcted funds 2025 Total funds 2025 Total fvnds 2024 Charity operating income 30,205 30,205 35,645 Tot812024 35,645 35.645 Investment income Unrestrlcted funds 2025 Total funds 2025 Total funds 2024 Income from listed investments Investment income - local cash 32 41,384 32 41,384 1,086 28,222 41,416 41.416 29,308 Total 2024 29,308 29,308 Page 21
SOUTHEND IN SIGHT (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Expenditure on raising funds Costs of ralslng voluntary income Unrestricted funds 2025 Total funds 2025 Total fvnds 2024 Fundraising 446 2, 527 Total 2024 2,527 2, 527 Fundraislng trading expenses Unrestricted Restricted funds funds 2025 2025 Total funds 2025 Total funds 2024 Training Cost of Equipment Sales 413 8,740 413 8,740 1,204 It,519 Total 2025 9,153 9,153 12,723 Total 2024 12,103 620 12,723 Invèstment management costs Unr8Strictod funds 2025 Total funds 2025 Total funds 2024 Portfolio Management 871 871 467 Total 2024 467 467 Page 22
SOUTHEND IN SIGHT (A company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analysis of expenditure on charitable activities Summary by fund type Unrestrlcted Restrfcted funds funds 2025 2025 Total 2025 Total 2024 Community ServIS 226,798 105,136 331,934 329,146 Total 2024 239,098 90,048 329,146 Following the closure of the Residential home, all residential home income is now shown as a discontinued operation in the Statement of Financial Activities. Summary by expenditure type Staff costs Other costs 2025 2025 Total 2025 Total 2024 Community services 205,306 126,628 331.934 329,146 Total 2024 169,909 159,237 329, 146 10. Analysis of expendlture by actlvltles Activities undertaken dlrectly 2025 Support costs 2025 Total funds 2025 Total funds 2Q24 Community services 277,581 54,353 331,934 329,146 Total 2024 278, 593 50,553 329, 146 Page 23
SOUTHEND IN SIGHT (A company limited by guarant66) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 10. Analysis of expenditure by activitiès (continued) Analysls of dlrect costs Communlty sèrvices 2025 Total funds 2025 Total funds 2024 Staff costs Premises costs Social events and newsletters Volunteers, expenses Depreciation of tangible fixed assets Sundry Legal and professional fees Loss on disposal of tangible fixed assets 205,306 47,581 20,706 420 205,306 47,581 20,706 420 169.909 79,637 Iq,163 1.004 1,537 416 12,855 2,072 1,349 1,349 2,219 2,219 277,581 277,581 278,593 Total 2024 278.593 278, 593 Analysis of support costs Community services 2025 Total funds 2025 Total funds 2024 Subscriptions Telephone Postage and stationery Advertising Accountancy Travel and subsistence Sundry Bank charges Legal and professional fees Independent Examiner's l Auditor's remuneration 1,107 2,969 3.361 8,643 22,254 618 1,107 2,969 3,361 8,643 22,254 618 483 2,559 4, 680 9,934 22,104 402 247 4,171 2.493 3,480 528 4,445 6,888 3,540 528 4,445 6,888 3,540 54.353 54353 50,553 Total 2024 50,553 50,553 Page 24
SOUTHEND IN SIGHT (A company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH 2025 11. Independent examiner's remunoration 2025 2024 Fees payable to the Companvs independ8nt examiner for the independent examinafion of the Compantys annual accounts. 3,540 3,480 12. Staff costs 2025 2024 Wages and salaries Social security costs Contribution to defined contribution pension schemes 192,261 9.515 3,530 160,185 6,806 2.918 205,306 169,909 The average number of persons employed by the Company during the year was as follows.. 2025 No. 2024 No. Direct Charitable work Adrninistration and governance 11 No employee received remuneration amounting to more than £60,000 in either year. 13. Trustees. remuneration and expenses The Trustees dld not receive any remuneration or other benefits during the year (2024- £Nil). The Trustees were not reimbursed or paid directly any expenses during the year (2024 - £Nil). Page 25
SOUTHEND IN SIGHT (A company limitèd by guarante&) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 14. Tangible fixed ass6ts Freehold property Plant and machlnery Office equlpment Total Cost or valuation At 1 April 2024 Additions 491,698 2,339 23,044 1,326 517,081 1,326 At 31 March 2025 491,698 2,339 24,370 518.407 Depreclatlon At 1 April 2024 Charge for the year 1,749 11,398 1,275 13,147 1,349 At 31 March 2025 1,823 12,673 14,496 Net book value At 31 March 2025 491,698 516 11,697 503,911 At 31 March 2024 491.698 590 11,646 503,934 15. Fixed asset inv&stm•nts Investments in subsldiary companles Cost or valuation At 1 April 2024 At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024 Page 26
SOUTHEND IN SIGHT (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 16. Debtors 2025 2024 Du6 withln one year other debtors Prepayments and accrued income 950 16,715 260 33,717 17,665 33,977 17. Current asset Investments 2025 2024 Listed investments 277.101 270.568 18. Creditors: Amounts falllng due within ong year 2025 2024 Trade creditors Other taxation and social security Other creditors Accruals and deferred income 6,127 4,097 2,512 6,610 10.713 3.489 5, 138 6, 744 19,346 26,084 Page 27
SOUTHEND IN SIGHT (A company limited by guarante&) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 statement of funds Statement of funds - current year Balanca at 31 March 2025 Balance at 1 April 2024 Gainsl (Losses) Income Expendituro Unrestricted funds Designated funds Property Development 849,202 (4,332> 844,870 General funds General Funds Revaluation reserve 834,033 23,680 247,764 (232,936) 848.861 30,213 6,533 857,713 247,764 (232,936) 6,533 879,074 Total Unrestrlcted funds 1,706,915 247,764 (237,268) 6,533 1,723,944 Balance at 31 March 2025 Balance at 1 April 2024 Gainsl (Losses) Income Expendlture Rostrictod funds South Essex NHS Foundation Trust Community investment board Lottery Masons 33,460 {33,460) (8.392) (60.219) (3,065) 13,141 22,690 3,065 4,749 18,202 55.731 38,896 89,191 (105.136) 22,951 Page 28
SOUTHEND IN SIGHT (A company limited by guarantaa) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 19. Statement of funds (continued) Statement of funds - prlor year Balance al 31 March 2024 Balance al l April 2023 Gain (Losses) Income Expenditure Unrestrlcted funds Dèsignated funds Property Development 900,000 (50, 798) 849.202 General funds General Funds 810,471 5, 845 221,731 (203,397) 5.228 17,835 834, 033 23, 680 Revaluation reserve 816,316 221,731 (203,397) 23.063 857,713 Total Unrestrlcted funds 1,716,316 221,731 (254, 195) 23,063 1.706.915 Balance al 31 March 2024 B8lance al 1 Apn'l 2023 Gain (Losses) Income Expenditure Restricted funds South Essex NHS Foundation Trust Essex Community Foundation Running Costs Community investment board Essex Communty Foundation -NHS 32,929 (32,929) 1,334 9,590 (1,334) (6,292) 9,843 13,141 145 21,132 4,167 (145) (38,866) (11,102) Lottery Masons 40,424 10.000 22,690 3,065 36,368 93, 196 (90.668) 38,896 Page 29
SOUTHEND IN SIGHT (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 20. Summary offunds Summary of funds - current year Balance at 31 March 2025 Balance at 1 Aprll 2024 Galnsl (Losses) Income Expenditure Designated funds General funds Restricted funds 849,202 857,713 38,896 (4,332) (232.936) (105,136) 844,870 879,074 22,951 247,764 89,191 6,533 1,745,811 336,955 (342,404) 6,533 1,746,895 Summary of funds - prior year Balance at 31 MarGh 2024 Balance at l April 2023 Gain (Losses) Income Expenditure Designated funds General funds Restricted funds 900,000 816,316 38,368 (50, 798) (203.397) (90,668) 849,202 857, 713 38,896 221,731 93, 196 23,063 1, 752, 684 314,927 (344,863) 23,063 1.745,811 21. Analysis of nat assets between funds Analysis of net assets betwaen funds - current year Unrestrlcted Restricted funds funds 2025 2025 Total funds 2025 Tangible fixed assets Fixed asset investments 503,911 503,911 Current assets Creditors due within one year 1,239,378 (19,346) 22,951 1,262,329 (19.346) Total 1,723,944 22,951 1,746,895 Page 30
SOUTHEND IN SIGHT (A company limited by guarantèa) NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH 2025 21. Analysis of net assets between funds (continued) Analysis of not assets between funds - prior year Unrestricted funds 2024 RestriGted funds 2024 Total funds 2024 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year 503,934 503,934 1,229,064 (26,084) 38,896 1,267,960 (26,084) Total 1.706,915 38,896 1,745,811 22. Related party transactions During the year the chairty received donations from Southend Vision Trading Ltd, a wholly owned subsldiary of the charity, totalling £49.480 (2024- £46,233). 23. Controlling party The charity is a company limited by guarantee and had no u5timate controlling party. In the event that the charity is wound up, each current member (and any member who has ceased to be a member within one year) agrees to contribute a maximum of ten pounds to the assets of the charity. Page 31
SOUTHEND IN SIGHT (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 24. Principal subsidiaries Th8 following was a subsidiary undertaking of the Company.. Name Company numbèr Reglstered offlce Principal activity Southend Vision Trading Limited 06388803 (1000/0 owned subsidiary) Millhouse, 32-38 East Street, Rochford, Essex SS4 1 DB Charity Shop The financial results of the subsidiary for the year were: Name Ngt assets Southend Vision Trading Limited {100 % owned subsidiary) Page 32