Pcac $8rt IIEGISTERED COMPANY NUMBEII: 03674948 (Englond and Wales) REGISTERED CHARITY NUMBER: 1075854 REPORT OF THE TR AND FINANaAL STATEME FOR THE YEAR ENDED 31ST 51AARCH 2024 WA ALL THE BUND MITED Slanton Rolph & Co LirrHted Chartered Accountonts The Old Police Stotion Wh",tbum Street Bridgnorth Shropshire VN16 4QP
WA ALL THE SU UMITED CONTEPITS OF THE FINANCIAL STATEMENTS R THE YEAR EN ED 31ST MAR 24 Page Report d Ihe Truslees Independenl Exomlnerfs Itewl Slalement ol Flnanclal Acllvilies Balonce Sheet Notes lo the Hnanclol Stalements Delalled Slalemenl ol Hrbanclal Acllvlmes 21 to ?
WA IETY K>R YHE BLIND MIT REPORT OFTrIE TRUSTEES FOR THE YEAR ENDED 31 T MARCH 2024 The Trustees of Walsall Society for Ihe 81ind Limited nhe SocieVI present their report and accounts for Ihe yeor ended 31 st March 2024. Chaknian's Inlroducffon l am pleased to be able to report another satisfaclory yeor I Ihe Society. We are repling a very modest deficit of about £3.IXQ this yeor. and the financial pOtIon of the Society remains satisfactory. hos been Ihe case in recent year5. the generosity of our donor5 has ersabled us to continue providing our core 5crvice5 thOUt dePtIng the Society'5 reSee5. We hove ogain been successful in attrocting exlro funding for st)ecific projects. the details of which ore given in Note 17 of these accounts. This additional funding is helping us to broaden the horizons of our wort. toking odvantoge of new technological developments. and calering for the needs of the changing demographic of the people secknng our hclp. I continue to be omozed and humbled by the efforts of everyone connected wilh the Society and its work. I make no apology for repeating my onnual message of groleful thonks to all those who make the work of the Society possible: our doncKs and funders for their extracKdinary generosi. our CEO and her stoff for their dedicalion. hard wtyk. and above oll the empalhy and care shown lor the msUal impaired peoFAe Ihat seek our help.. our volunteers who give their time. energy. and talènts with unstinting reliability ono kindness: and of COue. my fellow Trustees. Thank you again. everyone. John Cooke Chaimian ol TnJst•es 9th September 2024 TRUSTEES. REPORT The financiol stotements that fdlow this rèr)ort nrp Drgpcjrpd in or.r_nrdnnr_g with finrtnr_inl RprJi)rlTrno Stondnrd 102 ond Ih: FKovision5 of Ihe Companies Acts. The Society is exempt from Ihe reouirement lo hove an audil, but it5 accounting records ond these financiol statements hove been subjected to an independent examinotion by a firm of Chortered Accountonts ond Registered Auditors. The Society is both a regislered company limiled by guorontee, and o registered chority. The Society's registered compony number 15 036749481England and Wolesl. its registered charity number is 1075854. and ils principal ond registefed office is-. HeV House I l Hatrherton Rood Wo15011 West Midlands wsi Ixs Eoch Trustee of the Society is olso a Direclor of the Society. The Socievs Trustees and Direclors are: John Cooke Ichoirmanj Julie Horris Amara Ismail El Bonna Richord Meere Kevin Merchant Lourence Shore (Treosurarl (resigned 30th September 20241 Boljeel Siyan Dawd Smith twice Chairmonl Elizabeth Smith The Socievs Compony Secretory and Chief Executive Officer 15 Arnondo Reed. Poge I
ALS soa FOI THE BUND UMITED REPORT F THE TRUSTE It THE YEAIt ENDED 31ST MARCH 2024 The Soclety's Memoroqdum and *hcles of Association are ils goveming cjocuments. ffte Society is govemed by o boor¢y of at least three Tfustees. Each Trustee is oppointed by o vote at a general meeting of the Society ond is subject lo re-election every third yeor. Every person OPF)oinled as a Tnjstee musl also be wlling to serve as a Director of the Society. The Trustee5 0ver5ee the running of the Society. meeting ot least four times eoch yeor to rewew and plan its operctions. The CEO appointed by the TnJstees looks after the doy-toéay activitres of the Society. leading o small team of dedicated staff by exorrple with passionate commitment and energy. The Society is o Icngestoblished institution, well-known ond volued by local people. some of whom support thc Socicfy with o regular commitment of their time and expertÉse. In a typical year. the Society benefits from about 1.444 hours of voluable lime given by volunteers. OBJECTIVES AND ACTNMES The Society's purpose and Its pvbllc benefft The Society e5t$ to prowde information. support and friendship to all Visua impaired people Imng in the large Metropoliton Borough of Wolsall. now recognised os one of the mosl deprived areas of the country wth a diverse and ageing population. We aim to help anyone wth visual impoirment that need5 our help. whether regislered blind or not. We ore the main and by for the large51 provFder of visual impairment services in Waball. working alongside the Sensiyy Supptr teom of Wo15all Metropolitan Borough Council. The Trustees have considered the Chority Commission's guidance on the pubEc benefit requirement ol the chariti.es Act 2011 ond are satisfied that the Society meets that requiremenl. Servlces provlded by the Soclety The Society cuffenty SUppts op0X1MQtety 1.447 vwoly irrpaired individuals ond the demand f its Services is increasing eoch year. Our Communlty Ollkers provtde personal support to visuoTry impoired people ond their famli ies at Haev House or in their own hoffes and communiltes. Thi5 one-to-one work is al the heort of what we do. advising ond supwting people wth anylhing that visuol impoirment makes challenging in daily life. We maintain the register of Blind und PoTtiuny Sighted people on beholf of WalsaTr MBC. After referral by a Consultant Ophlholmologisl. our ReglstraHon Officer assists with the proce55 of registrotion ond advises on the benefils it con bring. Our Soclal Aclmlles Cenfre is open every weekdoy. Convenientty situated in Woboll tovm centre near the bus stolion, It is o popu'.or meeting ploce for groups of wsuotty impaired people to enjoy octiwlies such as arts and crafts. quines and entertainment. Social isolation is otten a consequence of sight Ioss. 50 our centre is an essential resource for the local visually impaired community to meet and Ihu5 enable its members lo remain indepenaent in a iafe environment. It is lorge enough even to accommodate Ihe Wotsall Vwally Impaired Bowtrs Group. Our weekly Watsall Talldng New¥Per is exlremely popvlor. Each week in ovr ovm in-house studio. we record, edit ond produce more than four hours of content Nthich is then distributed on memory sticks by post, or by digitol download. We abo produce o monthty Avdlo Magazlne wilh more thon e1ve hours of content. Digitol lechnology designed specificoty for visuaty impoffed people is ropId beconThng more advanced and readily avoiloble. In response to growing demand. we have on Asslsllve Technok)gy Omcer. This important seNice prowdes both group ond one-tone training sessions on generic yrrt demces tailored to meet the needs of each indiwdual. Achlevements and performonce We ore aKYays busy. and OLff WO benefits the fives of mony visuolly impoired people in WoLs011. vtilh the restrictions creoted by COVII>I 9 now fully bthnd us. our acttwties have ni)sty retumed to nornal. This yeor we dealt with 3.059 enquiries ot our reception desk. handled more Ihan 7.5 community case5. ond offered 2.161 placement5 in our Social Actimties Centre la'placement. 15 Simp the opportunity for one person to ottend one session). We sent out more than 7.P£Q copies of the Wa&all Talking Newspoper. ond we know thal many more people listen to it through online plottom. Page 2
IETY FOI THE BU MifED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 PINANCIAL REVIEW Financlal revlew and pollcy The Trustees are extreme grateful once agjin for the astonishing generous 5UPPOrt the Society hos received from its donors. Donations and legacies received Ihis year total £181.486. not much lower than the £203,698 received lost yeor. The Society depends heowty upon the donalions ond legacies it receNes because our inveslment income - despite on incre05e Ihi5 yeor to £91.737 from £83,644 in 2023 - represent5 only obout 23% of what we need to maintain our services, the cost5 of which this year were £389.(%921£356.783 in 20231. Coutious. prudent finoncial p0cleS are adopted by Ihe Trustees to monage Ihe inewtable fluctuations in the Society's income. Maintoining a Development Fund Idescribed belowl is o fundamental and essential part of this opproach. The Trustees delegote the monogement of the Society's investments to a firm of professional investment athser5 With the brief lo maintoin o bolonced portfolio wth moderate risk. The TTU5tees' aim is to mointain Ihe reol value of Ihe SocieV5 investments in Ihe long term wllh a wdent mrxlure of equities, bonds and cash, and that aim continue510 be met by the investment athser5. With the pvbfi5hcd ratc of infFotion now having retumed to on acccplablc Icvel. Ihe Tru5tce5 are 5oti5fied thot the Socievs financial resources ore adequote ftx the continued provision of its Core services for the foreseeoble fulure. Reserves and lunds Details of our reserves ore Sho in note 17 of the occounts. Our reseNes consist of restricted and unrgstri¢ted funds. Restricted funds can On be used for specific purposes occording to conditions imposed by their doncK5. Note 17 give5 detaiLs of the reslricled funds. Unrestricted fvnds are the bakjnce of our reserves. accumulated since the inception of Ihe Society. These funds Ore required to ensure thot - in accordance wlh tt)e Chority Commission's guidelines - the Society has sufficienl funds to ensure Ihol it can continue lo prowde it5 core service5 to the visually impaired community of Wolsall for at leasl anolher years. These unfeshicted funds include a special designated fund. called the Development Fund. The Developmenl Fund was created by Ihe Trv5tee5 to protect the long-tem future of the Society and Ihus the interests of the visually impaired commvnity of Walsall. H¢)vAey Hovse - the prenNses from which the Society has operoled since 1986 - is leased on terms under which Ihe Society could be asked, wth just Iwenfy-four months. otice, lo find altemotive premises. The Development Fund is thus intended to provide for the costs of the relocation of the Society should Mis become necessary. The Trustees would seek to ensure the Socievs secvrity of tenure in ony new premises by ocquiring a freehold or Suit0b long leasehold interest. the c051 of which, together wth renovation work. 15 cvrrenHy estimaled by Trustees lo be £1.6 miifion. STRUCTURE. GOVEINANCE AND MANAGEMENT Governlng documenl. orgonlsatlonal slruclure and Irustees Details of the Societ¢s goveming documents. Ofgani5ational structure and trustees are covered within the Report of Ihe Tru5tee5 above. Rlsk revlew The Trustees hove o duty to identify and remew the risks to which Ihe Society is exposed and to ensure oppropriate contro15 are in ploce to prowde feosonotAe ossurance againsl fraud and error. The Trustees are sotisffed that adequate systems ond procedures are in operation to miligate agairsst the mojor risks faced by the Society so as TO minimise Ihe potential impocl on the Society should any of those risks materiolise. A risk register hos been estoblished. Further detaib of the Socievs performance are contoined wthin the Report of the Trustees obove. REFERENCE AND ADMINISTRATNe DETAILS Reglslered Company number 03674948 (Englond and Wolesl Reglstered Charfty number 1075854 Poge 3
WALSALL SOCIETY R THE 8UND MIT REPORT OF THE TRUSTE R THE YEAR ENDED TMAR H 2024 Reglstered offlce HaeY House I l Hotherton Ro(Jd Walsall West Midlands wsi Ixs Trustees John Cooke Ichairmanl Julie Horris Amora Ismoil El Banna Richord Meere Kevin Merchant Laurence Shore Ureosurerl (Resigned 301h September 20241 Baljeet Siyan Dawd SrrHth Iwice Chairman) izabelh Smith Company Secretary Amanda Reed Independent Examlrber Adrian Rclph. FCA CTA stanton Ralpn & Co rrted Chartered Accountont5 The Old Police Station Whilbum Street Bridgnorth Shropshire WV16 4QP Ap0ved by the ChoffrTrJn of the Trustees on 9th September 2024 and %gned on its behalf bv: David Smilh - stee Page 4
DENT EXAMINER'S REPORT TO THE IRUSTEES OF WALSALL SOCIETY FOR THE BLIND LIMITED Respecllve ResponslblllHes ol Ihe Truslees and Examlner The TnJslees (who are also Ihe DirectS of the compony for the purF)oses of compony lowl cyre respon%ble for the preparation of the occounts in accordance wlh the requirements of the Companies Act 2006 fyhe 2CK)6 ACV'I. The compoD.Is Trustees consider Ihot an oudil is not required for this year under Part 16 of the 2CQ6 Act ond that on independent exanNnation needed. Huviiig 5oli5fied myself Ihat Ihe accounts of the choritabk company ore not required to be audited Under Part 16 of the 2006 Act and are eligible for independent exominotion. I report in respect of my examination of your choritable componvs accounts 0$ corried ouf under section 145 of the Chorities Act 2011 fThe 2011 ACY'I. In corying out my examination I have followed the tlrections given by the Charity Commission under section 145151 Ibl of the 2011 Act. Independent Examlnerfs Stalement In connection wlh my examination, no material matters have come lo my attention which give me cause to believe thot in. ony molersal respect: [1) occounling records were not Kept in occordance wlh seclion 386 of the Companies Act 2CQ6: or rill the account5 do nol occord with such records." or riiil the accounls do nol compty with relevont accounting TequirerrEnts under section 396 of the Componie5 Acl 2CK16 other thon any requirement thot the accounts give a 'true and foir, view which is not o matter considered os part of an independent exominalion: OT rivl the accounts hove not been epared in occordance with the Charities SORP {FRSI 021. I hove no concems and hove come ocr055 no other rrK3tter5 in connection with the exomination to lch attention should be drown in Ihis report in order to enatde o proper under5Ponding of the accounts to be reac Adrion Ralph FCA CTA stanton Rolph & Co Limited Chartered Accountants The Old Police Station Whitbufn Slreet Bridgnorth Shropshire WV16 4QP 9th September 2024 Poge 5
LL SOCIEtY FOR THE BUND UMtWED STATEMENT OF FINANCIAL ACTIVITI FOR THE YEAR ENDED IST MARCH 2024 31.3.24 Totol funds 31.3.23 Total funds Unrestricted fund Restricted fund Notes INCOME AND ENDOWMENTS FIOM Donotion5 and legocies 66.587 14.899 181.486 203.698 Charftable odlvllles Council funded and other chorttable oclivities 42.632 42.632 42.632 Other trading activities Investment income 9.378 91.737 9.378 91.737 11.611 83,644 Total 167.702 157.531 325.233 341.585 EXPENDITURE ON Roising funds 61.514 1.937 63.451 58.186 CharlTrobl• oelfvlNes Council funded and other charitable octiwties 150.149 175,482 325.631 298.597 Tolal 211,663 177.419 389,C482 356.783 Net gainslllossesl on investments 56.206 56.206 1154.1411 NET INCOMEIIEXPENDITURE) Transfers belween funds 12.245 115,3631 {19.8881 1 5.363 17,6431 {169.3391 Nel movement In funds 13.1181 14.5251 {7.6431 1169.3391 RECONCILIATION OF FUNDS Total fund5 brought forward 2.272.364 41,367 2.313.731 2.483.070 TOTAL FUNDS CARRIED FORWARD 2.269.246 36.842 2,306.088 2.313.731 The notes form part of these tinanciol statements Page 6
WALSALL THE BU BALANCE HEET H 2024 31.3.24 Total fund5 31.3.23 Total funds Unrestricted fund Reslricted fund Note5 FIXED ASSEts Tongible assets Investments 12 13 2.073,874 2.073.874 2.021.932 2.073.876 2,073£76 2.021.934 CURIENT ASSETS Slocks Deblor5 Cosh at bank 458 4.228 204.98AJ 458 4.228 242.641 15 37.661 XQ.975 9.666 37.661 247.327 30.5.632 CREDITORS Amounts falling due within one year (14.2961 1819) 115.1151 113.8351 NEf CURRENT ASSETS 195,370 36.842 232.212 291,797 TOTAL ASSETS IESS CURRENT UABILMES 2.269.246 36.842 2.306.0&9 2.313,731 NET ASSETS 2.269.246 36,842 2,306.( 2,313.731 FUNDS Unrestricted funds Reslrictèd fiJnds 17 2.269.246 36.842 2,272,364 41.367 TOTAL FUNDS 2.306.088 2.313.731 The charflotAe compony is enttmed lo exernption from au(Sit under Section 477 of me Companies ACI 2tXJ6 for the yeor ended 31st Morch 2024. The members hove not required the company to obtain an audit of its financial statements for the year ended 31 st Morch 2024 in occordance wth Section 476 of the Companies Act 2CQ6. The ITUStees acknOedge their responsibilities for ensuring that the choritable comFxJny keeps accounting record5 that compty wth Sections 386 and 387 of the Companies Act 3x16 and preporing financial stotemenls lch give o Inje ond fair wew of the stole of affairs of the choritable company os ot the end of each financial year ond of its surplus or deficit for each financial year in occordonce with the requirements of Sections 394 and 395 and which othewse comply with the requirements of the Componies Act 2CQ6 relating lo finonciol statements, so far os applicoble to the charilable comFX]ny. tbl The notes form part of these financial statements Page 7
ALL SOCIEtY FOIE THE BUND UMttED BALANCE SHEET- contlnued 31 ST IIAARCH 2024 These financial stolements h(sve been [Keped in aCCdanCe wilh Ihe provisions opplicoble to charitoble componies subjecl to Ihe smoll componies regime. The financial statements were approved by the 80(Yd of Trustees and aulhuised for issue on 9th September 2024 ond were signed on its behaLf b John Cooke - Trustee Dawd Smith - lee The notes form port of these financial statements Page 8
WALSALL S IND UMITED NOTES TO THE FINANCIAL STATEMENTS THE YEAIt ENDED 31ST MAR H 2024 ACCOUNIING POLICIES Basis of preparfng Ihe ffnanclol slatements The Society is a public benefit entify os defined by FRS102. The financial statements have been prepared in accordance wth Accounting and Reporting by Chorities: Stotement of Recommended Proctice applicable to choTrties ryeparing their occounts in acccxdance with the Finonciol Reporltng Slondord applicable in the United Kingdom ond Republic of Irelond IFRS1021. the Charities Act 2011. Ihe Componies Act 2C06 and UK Generally Accepted Accounting Practice. The financial slatrements are prepared on o going concem t)osis under the historical cost convention, modificd to include certoin items ot foir volue. The finonciol stotemenls ore presented in steding vAiich is the funclionol currency of the Society ond rounded to the nearest £1. The signifcant accounting poficies appfied in the preparation of Ihese financial statements are set ovt below. These poScie5 have been con5is*enttry applied to all years presented unless otherwise stated. Funds Unrestricted funds ore avoiloble use ot Ihe cf15cretion of Me Trustees in furtheronce of the generol objectives of the Society and have not been degnated for oter purposes. Designoteo funds comprÈse unrestricted fund5 thot have been set ade by the Truslees for particulor purpose5. Further detoils are given in the Tru5tees' Rep. Restiicted funds are funds vknich are to be used in occudance with specific reslrictions imposed by donors or which hove been raised by Ihe Society for particular purposes. The costs of raising and odrrynislering wch funds are charged ogyinst the specific fund. Further detai15 are given in Note 17. Income JI incorning resources are inclvded in the Statement of nancial Acfrvities ISOFAI when the Society is legally entilled to the income atter any performonce conditions hove been met, Ihe omount can be measured reliabfry. and il is probable that the income will be received. For donations to be recognised the Society wll hove been notified of the omounls ond the settlement date in lting. If there are conditions attoched to the donolion and this require5 a level of performance before entillement can be obtained then income is deferred until those conditions are fully mel or the fuifilmenl of Ihose conditions is wthin the control of the Society and il is ryobable that Ihey be fulfilled. Donated focilities and donated professional services are recognised in income at their fair value when Iheir economic benefit is 0babIe. it can be measured rel10b and the Society has control over the item. Fair value is deterrruned on the basi5 of the value of the gift to the Society: for example the amounl Ihe Society would be willing to pay in the open morket such focilities ond services. A corresponding amount is recognised in expencfilure. No arnount is included in the financial statements f(y volunleer lime in line wth the SORP IFRS 1021. Further detail is given in Ihe Trustees. Report. For legocies entitlement is recognised on Ihe eorlier of the Society being notified of an impending distribution or the legacy being received. Someltmes legacies be notified lo the Society but il is not Possible to meosure the arrnunt expected to be dislTibuled. On Ihese occosions Ihe legacy is treated as a contingent asset and disclosed in the notes lo the financial 5tatement5. Income from Iradir)g actimthes includes incorrE eamed from fundraising events and trading activities lo raise fund5 for the Society. Income is received in exchange for 5upplw.ng gocds ond 5eNices in order lo raise funds and is recognised vthen entittement hos occurred. Income from government and other gronts ore recognised ot fair value when the Society has entitlemenl ofter any perfcrfmance conditions hove been met. il is 0babIe thot the income will be received ond the amounl cor, be meosvred reliobly. If entitlement is not mel then these amount5 are defeffed. Poge 9
WALSALL OCIEtY BUND UED NOTES TO THE FINANCIAL STATEMENTS - contlnued IE THE YEAIt ENDED 31 MARCH 2024 ACCOUNllNG POUCIES - conllnued Income Investment income is eamed Ihrough holding asset5 for investment purposes such as shares ond bonds. It includes dividends and interest. l#Vhere it is not procticoble to identify investment monogement cost5 incurred w7lhin o scheme wth re050nable occvrocy the investment income is reported net of these costs. Inveslment income is included when the omounl can be measured reliably. Interest income is recognised using the effective inlere5t method and dividend income is recognised as the SocieV5 right to receive payment is estoblished. Expendllure AJI expenditure is occounled f¢X on an occruo15 basi5 and has been clossified under he0IngS that oggregate al costs related to the category. Expenditure is recognised where there is o legol or constructive obligation to make payments lo thd parties. il is rxobable Ihot ttie settlement will be required ond the amount of the obligotion can be meosured reliably. The c05t5 of roising funds include the costs associated wilh ottracting voluntary income and the c05t5 Of- trading for fundraising pUoses. Expenditure on choritoble acliwties includes Ihose costs incurred by the Society in the defNery of it5 octivitie5 ond Services for its beneficiories. It includes both cost5 that can be ollocoted direclly to such aclivities and those cosls of on indKecl nolure necessary lo support them. Other expenditure represents those items not folling into the colegories above. IeCoVerable VAT is charged a5 on exDen5e agoinst Ihe activity for which expencfilure arose. Suppcffl costs aRoc¢JMon Support costs are those that a55iSt the work of the Society but do not direclty represenl chorilable aclivities ond include office costs, govemance costs and administrative payToII costs. They are incurred directty in support of expendilure on the objects of the Societr. where support costs connot be direc attributed to porticulor heodings they hove been allocoled to cost of raising funds and expenditure on choriloble activities on a basis considered lo be reasonotty consistent wh use of the resource5. Fundraising costs ore those inCued in seeking voluntary contributions and do not include Ihe costs of disseminoting InfonTtion in supwrt of tt)e charitoble octivities. The anafysis of these costs is included in Notes 6 ond 7. Tanglble fixed assets Tongible fixed assets are stoted at cost or Voaon less occurwlated depreciation ond accumvlated impairment losses. Cosl includes costs directty attribulae to maknng the asset capable of operating as intended. Asts with o c051 below £5.C£O are not copitalised. Depreciation is ryovided on oll torKJible fixed asset5. al rates colcuFated lo wyite off the cost. less estimaled residual value, of each asset on a systerrotic bags over it5 expected uselul life as follows: Leasehold buil¢Sings ond improvements Computer equipment 5% pa straight line 33% pa straight line Slock$ stock5 arc volucd ot Ihc k>wcr of c05t and net reasabIC value. ofter making dvc ollowonce for obsolele and slow mving items. Page 10
ft)IE THE BLIND UMITED NOTES TO THE FINANCIAL STATEMENTS - contlnu FOR THE YEAR ENDED MARCH 2024 ACCOUIfflNG POUCIES - confinued Penslon c¢)sts and olher posl-reltremenl benellls The Society operates o defined contribulion pension scheme for its employees. Contributions payable to the pension scheme ore chorged to the STalement of Finonciol Actiwties in the period to which they relate. Debtors and ¢redllors ieeelvablelpayoble wllhln one year Debtors and creditors wttr) no stoted interest rate arir* receivable ¢N payable vthin one year are recorded at transaction Pfice. Any losses arising from ImpoirEnt (Ye recognised in expenditure. Investments Listed investments are volued at open nthet volue wrlh reoltsed and unreofised gains and losses odjLlSted within the Statement of nancI01 Aclivrties in occordance wth the requirements of the Charitiei Statement of Recommended Practice and FRS 102. Impaknient Assets not measured ot fair volue ore revtewed for any indicotor Ihot the osset moy be impaired ot eoch balance sheet date. If such indication e$t$. the recoveroDle amount of the asset, Of the assefs cosh generating unit. is estimoted and corrpared lo the coffwng amount. Vthere the corying amovnl exceeds its recoverable amount an imr)oirmenl Ioss is recognised in profit and loss unless the osset is carried at a revalued amount. where the imF)airffent105s 15 0 revoluotion decrease. Employmenl benellts When employees have rendered setvice lo Ihe Societ¥. short-term employee benefits lo which Ihe employees are entitled are recognised ot ttrie undiscounled amounl expected to be paid in exchonge for thal service. The Society operates a defined conlribulion plan for the bene.fit of its employees. Contributions are expensed os they become payable. Tax The Society is an exempt charity wrthin the meaning of schedule 3 of the Charities Act l ond is con¢iderea to pa55 the tests sel out in Parograph I Schedule 6 finance Act 2010 so thal it Iherefore meets the definition of a choritoble compop.y for UK corporotion tax purposes and so that the Society is exempt from corporation lax on its chaTitable activities. Going concern The financial statements have been prepared on a going concem basis 05 the TnJ5tees believe thol no malerial vncertainties extst. The Trustees have considered the level of funds held and the expected level of incorne and expenditure for twelve monlh5 from aulhorising these financiol statements. The budgeled incorne and expendilure are Sufficient wlm Ihe level of reserve5 for the Society to be able to continue as o going concem. Pagell
AL5ALL 5 R TH BUND UMITED TES TO THE FINANCIAL STATEMENTS - conllnued R THE YEAR ENDED 31ST MARCH 2024 DONAlloNS AND IEGACIES Restricted Unrestricted 31 .3.24 31.3.23 Midland Societies f¢y the Bfind Talking Newspaper General Box collections Day Centre Metrobox collections Legocies Corporole Trust noIsing Charitoble Trust Fundraising Generol and adrrunislration Gift old Charities Trust and aid donations 2.148 2.148 1.435 8.239 3,193 1.437 5.456 8.239 229 229 40.764 40.764 246 105.237 3,450 83.248 637 651 114,899 12.5CQ 127.399 515 515 594 594 78 78 114.899 66.587 181.486 203,698 In 2023 income from donotions and legocies wos £203.698 0 which £70.252 was attributatle to restricted funds and £133,446 wos attribLrtoble lo unrestricted funds. OTHER TRADING ACTNMES Restricted Unreslricted 31.3.24 31.3.23 Soles of WTN bricks Sales of livrng old5 and equipmenl Social octivity cenre Other Income 519 8.043 2.311 738 5.654 3.231 493 5.654 3.231 493 9.378 9.378 11.611 In 2023 all income wos attributable to unrestricted funds. INVESTMENT INCOME 31.3.24 31.3.23 Inleresl on investirèents Inteiesl on UK 5ecurilie5 Income from equities ond unil trusts 11.501 4.037 76.199 1.819 2,842 78,983 91.737 83.644 In 2024 ond 2023 011 inconE trom iniStments was attribulabFe to unreslricted funds. Page 12
WALSALL S UND UMITED NOTES T THE FINANCIAL STATEMENT5 - ontlnu FOR THE YEAR ENDED IST MARCK 2024 INCOME FROM CHARifABLE ACTIVITIES Restricted Unrestricted 31.3.24 31.3.23 Walsall Metropolitan Bofough CovncA: Registroion. Informotion and Liaison Service cen.tre Management 18.623 24.(K19 18.623 24.9 18.623 24.CQ9 42.632 42.632 42.632 RAISING FUNDS Volvntory Income Funtoising 31J.24 31.323 Cost of goods sold Property costs Funthaising and publicity Solafies ond stoff expenses General and office expenses 10,086 1.589 327 li.497 2.660 10.086 13.730 1.589 2,627 327 48.789 39.126 2.660 2.323 31.292 32.159 31,292 63.451 58.186 CHAItITA8LE ACTIVITIES COSTS Commu nity wth& Tech Officer Translati on ond talking Centre monog emo ement nce Registr ation octiviti es 31.3.24 31.3.23 Talking newspaper equip, reps & moint Sundry gonts & gift5 Property costs Salories and stoff expenses General & offica exoenses Accountsl book kecping Jndraising and Publicity 634 634 3.267 212 8.939 212 30.587 360 37.103 2,867 3.576 397 18.226 35.539 56.247 117.213 12.192 4,873 244.290 217,879 4.531 5,985 8.978 14.963 3.549 662 38.668 27,104 7.476 7.476 9.462 736 82 3.764 3.422 25.624 46.470 71.693 143.168 32.662 6.014 325.631 298,597 Page 13
WALSALL SOCIETY R THE BUND UM NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED T MAIECH 2024 TRUSTEES. REMUNERAnoN AND BENEFITS The Trustees neither received nor waived any remuneration during Ihe year {2023.' none). Trustees. expenses The Truslees did not claim any expenses thi5 year or10st year despite being entitled to do so. STAFF COSTS 31.3.24 31.3.23 Wages and salaries So-ial security costs other pen&on costs 268.827 15.159 5.042 238,177 11,793 4.097 289.028 254.067 The average monlhty number of employees dLKing the year wos as fcAIow5: 31.3.24 15 31.3.23 Average number of empk)yees No employees receNed emoluments of more than £60.1 during the year {2023'. nonel. The lotal omount of employee benefits received by key monagement personnel is £48.033 12023: £45,969). The Truslees consider the key managemenl personnel to be Ihe Chief Executive Officer. io. PREVIOUS YEAR'S COMPARATIVE FIGURES FOR SVATEMENT OF FINANCIAL AcnvmES Unrestricted Restricted fund fund Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 133.446 70.252 203.698 Charftable aclmlles CoiJncil funded and othercharitable oclivities 42.632 42.632 Other troding actiwlies Investmenl income 11.611 83,644 11.611 83,644 Total 228.701 112.&94 347,585 EXPENDITURE ON Roising fundi 56.936 1.2X¢ 58.186 Chatttablè octfvffles Council funded and other choritoble activities 178.833 119.764 298.597 Total 235.769 121.014 356.783 Net goinslDosse51 on investments {IS4.1411 1154.1411 NET INCOME/(EXPENDITUIIE) Tronslers between funds (161,2091 {13.2471 18.1 $) 13.247 1169,3391 Poge 14
ALSALL S THE BUND UM NOT TO THE FINAN IAL STATEMENTS - conmnued FOR THE YEAR ENDED 31ST MARCH 2024 io. pttEVIOU5 YEAIE'S COMPARATIVE FIGURE5 FOIE STATEMENT OF FINANCIAL ACTNMES - conllnued Unreslricted Restricted fund fund Total funds Nel movemenl In lunds (174.4561 5.117 1169,3391 RECONCILIATION OF FUNDS Total fund5 brought for¢¥ard 2.446.8 36.250 2.483.070 TOTAL FUNDS CARRIED FOItWARD 2.272,364 41.367 2.313,731 GOVERNANCE COSTS 31.3.24 31.3.23 Accoun,. oncy I poyroll and independenl exarrlnerfs fees Support costs Inveslment monagement costs 7.476 6.017 11.587 9.462 6.253 8.809 25.oe 24,524 Accountancy I payroll ond independent examinerfs fees includes an independent exanynation fee of £ I,0} 12023 £1.CUII and PLIYTOII seNices of £1.476 12023 £1.3621. 12. TANGIBLE FIXED ASSETS Short leosehoid Computer eqvipment Totots COST At I st April 2023 and 3151 March 2)24 121.636 11.245 132,881 DEPREcIAlloN At I st Ar¥il 2023 ond 31 st Morch 2024 121.635 11.244 132.879 NET BOOK VALue At 31 st March 2024 At 31 st Morch 2023 13. FIXED ASSET INVESTMENTS Listed investments MARKET VALUE At I st April 2023 Additions Disposois Realisee gains Nel vnrealised gains 2.021.932 67.831 172.0951 34.118 22.088 At 31st March 2024 2.073.874 NET BOOK VALUE At 31st March 2024 2,073.874 At 31 st March 2023 2.021.932 Page 15
AL THE UN NOTES TO THE FINANCIAL STATEMEN FOIE THE YEAR ENDED 1ST MAR ntln 73. pixtD ASSET INVESTMENTS - conllnued Cost or valuation ot 31 st March 2024 is rewc5cnted by: Lrsted investments Valuation in 2024 Cos-, 783,201 1.290.673 2.073.874 Investments at mathet volue comEYise: 31.3.24 31 .3.23 Fixed interest funds ond gilts Equi'.ie5 Property ar,d infrastructure funds 134.391 1.607.362 332,121 117.992 1,535.063 368.877 2.073.874 2.021.932 Inb'eitments were volued at closing mid-Moet volue os ot 31 March 2024 by EFG Harris Ajlday. independent stockbroker5 regulated by Ihe Financial Services Aulhority ond a member of the London stock Exchonge. 14. STOCKS 31.3.24 31.3.23 Stocks 458 Is. DEBTORS: AMOUNTS FAWNG DUE WITHIN ONE YEAI 31.3.24 31.3.23 Prepayments 4.228 3.848 Page 16
ALL 50CIEtY FOR THE BLIND UMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 315T MAIECH 16. CREDITORS- AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Trode creditors Social security ond other toxes other creditors Accrued expenses 2.032 4.434 2.750 3.745 846 6.494 7.611 15.115 13.835 Page17
WA SOCIETY FOR THE BUND UMtrED NOTES TO THE FINANCIAL STATEMENTS - conllnued FOR THE YEAR ENDED 31ST MARCH 2024 17. MOVEMENT IN FUNDS Openlng Balance Incomlng Resource Ilesowces Expended Galnsl Oosses) clong Balancè Tronsfèrs Unresmcled: Generol fund Development fund 672,364 167.702 {211.6631 56,206 {1 5.363} 669.246 I.6.c 1.6CQ.(KMJ 2.272.364 167.702 1211.6631 56.206 115.3631 2.269.246 Reslrfcted: Cene management Reg15trolion, Inlormotion and Lioison Service Chariloble Trust Fundroising Children in Need 5evem Trent Water BHFS Trusl The Notional Lottery- Awards for Al Edward & Dorothy COdury Good Tr.ings Fodp,dation Poit-ode Local Trust The Hospitol Solurday Fund 2 The &eaffice Laing Trusl 2 Ulveiscroft Foundation 2 D Bostock Legacy The National Lottery Community Fund - RC Midlands Region Leeds Building 24.CK)9 132.6621 18.623 125.623} 1786) 9.991 19,922} 429 2.78£1 2.625 15.4051 785 14911 12941 216 12161 {i.(Mxii 25.C(Q 123.4701 12.IXOI 1881 2.092 15891 1,503 760 62.875 158.5131 5,122 11.5621 562 The INED Choritable Trust The Clive Richard5 Foundation LiS1ie Johnson Choqtable Trust Bernard Sunley Foundotion The Screwfix Foundotion 2 (5(XJJ 11.6141 114 12.2301 2.770 13.IX)71 1.993 Page 18
ALLS ND MIT NOT TO THE FINANCIAL STATEMENTS - conllnved R THE YEAR ENDED 31ST MARCH 2024 77. MOVEMENT IN FUNDS - conllnued William A Codbury Trust The Boshier HiD.ton FoJr,dation 2 Tr.e SaintbLry TnJSt 14391 161} 1.260 1.143 Community Grant One Wolsall WM Police Hospital Saturday Fund 2 Notional Lottery Awards for All Granthom Yorke Trust {1.120} 1.795 {1.6761 14.465 14.465 2.388 41.367 157.531 1177.4191 15.363 36.842 Total funds 2.313.731 325,233 1389.0821 56.206 2.306.088 CGrr.muiity' Sight Loss Supp¢Yt: The National Lottery Community Fund - RC Midlands Region, has prok',ded us with OiJr first year of funding trom its Reaching Communities Fund. This generous support has enaL)led us to deli'ier our communify based outreoch support to odults wilh wsual impainnent as well as crealing o new aworeness roising ro which is reoching out to unregistered individua15 who are shuggiing with vision challenges. Children and Young People- BBC Children in Need has promded its third year of funding to enable us lo continue our cOMnity support for wsually impoired children. young people ond their families. We are delighted thot lunding from the Granthom Yorke Trust ha5 enabled us to establish o new Youth Club engogement octiwty with our young visuolty impaired service u5eT5. A55is-:ive Technolow. A grant from the Hospital Salurdoy Fund has enobled us to purchase o new item of mognificalion equipment which ts ovailoble to the sight loss community for demonstration and loon purposes. We have olso inslolled o drimng simulotion experience in our Social Activity Centre thanks to a grant from the Liifie Johnson Choritoble Tru51. Mentol Health and Wellbeing: A gront from the Poslcode Locol Twsl. received during the prewous financial yeor. has been utilised Ihis year to deliver the second year of our mental heolth ond wellbeing service. FoilDwng the completion of the Sevem Trent Community Fund funded pilot initiative. this project coptinues to support people wth sight loss to improve their mental health and wellbeing by ossis.ing .'hem to regain Iheir independence and confidence and reduce their isolation. 5ighl l os) Support Aid5: The Saintbury Trust, Tesco Comrwnily Grants. Wiifiom A Cadbury Trust. Boshier Hinton Foundation and the WED Charitable Trust have al made conlributions towards o new project providing loilnrp.d sight loss support olds lo individu015 ne regigtered with gight logg. Resources avoiloble include liquid level indicator5. bump ons. symbol canes and signoture guides. RefLJrbishments' Grants from The Notional Lottery - Awords for AJI England Fund. Wesl Midland5 Police Helping Communities Fund. Screwfix Foundation ond the Bemard Sunley Foundation have enabled u5 to make improvements lo our Social ActivFty Centre. IT suite. kitchen and building *cvrity. Heallhy Eoting Initiotive.. A gront from Ihe Health Inequalities Fvnd distribuled via One Walsall. hos enabled us to deliver an initiative to help our 5efvice users improve their understanding of food choices and their impact on eye heolth. Page 19
ALSALL THE BUND UM NOTES TO THE FINANCIAL STATEMENTS - conmnued FOR THE YEAR ENDED 31ST MARCH 2024 17. MOVEMENT IN FUNDS - conllnued Further details of restricted and unrestricted funds ore included wthin the Rewt of the Trustees. Analys15 ol net assets belween fvnds Unreslricled Designated Restiicted Funds Funds Funds Total Assets xed ossets Bank and cosh in hand other currerit asselslliobilities 473.876 204.98J) 19.6101 1.6CQ.Q 2.073.876 242.641 110.4291 37.661 18191 669.246 I,6c.) 36,842 2.306.088 18. EMPLOYEE BENEFIT OBUGATIONS The Society operate5 a defined contribution pension scheme for its employee5. The orrount recognised os on expense in the period wos £5,042 12023: £4.0971. Tre defined conlribution fiatifity is allocoled to each activify bosed on stoff hours. os per staff solories and social security costs. 19. RELATED PARTY DISCLOSURES The Society empbys a relative of one of its Truslees. The employee is not finoncially dependent on the Trustee in question. and the terrrts of employment ore negoliated by Ihe CEO wthoul ony inVoement of that TrJstee. The other Tnjstees are sotisfied this is o tronsoction Ihot bfings very significant benefits to the Society. thus enabling it to meet its charitoble objectives. The employee's emolumenls for the year ended 31st Artorch 2024 were £21.223 I23 £19.5451. The Society received a donotion of £2.) from one of its Trustees this year12023: £2.SCIJ}. There were no other reloted party tronsoctions for the CUent or previous ye(xs requiring disclosure in Ihe accounts. MEMBERS UA8ILITY In accordance with the Memorondum ond hrticles of Associalion each member5, liability is limited lo £10 in Ihe evenl of winding up of Ihe Society. 21. SHARE CAPITAL AND UMTfED BY GUARANTEE The Society does not hove on outt)orised or issued shore copital as ils liabifity is limiled by the guarontee of its members. each guoranteeing up to £10 of the Society's debt. Poge 20
ALL ItTH DETAILED TATEMENT OF FINANCIAL ACTivmES THE YEAR ENDED 31ST MAIICH 2024 31.3.24 31.3.23 INCOME AND ENDOWMENTS Don(rtlons and legacles Dono+ions Legacies 140.722 40.764 98,461 105.237 181.486 203.698 Olhw Irodlng aclivihes Olher trading activitie5 9.378 11.611 Investment Income Dividend ond interest income 91.737 83,644 Charltable acllvltles Challtable octivities 42.632 42.632 Total Incomlng resources 325.233 341.585 EXPENDifuRE Fundraislng, donallons and legacles Wages Fundraising ond pubficity 38.936 327 39.316 Other Iradlng acllvmles Purchases Property costs Stoff expense5 General and office expenses 10.086 1.589 13.730 2.627 2.660 2,323 14.615 18.870 Charftable acllvllies Wages Social secLirity Pension5 Talking newspoper Sundry grants Property costs Slaff expense5 General and office expenses Accountar4Cy Fundraising ond publicity Stockbroker fees 220.318 15.159 5,042 634 212 J.587 3,771 27.081 7.476 3,764 11,587 199,241 11.793 4.097 3.267 360 37.103 2.748 18.295 9,462 3,422 325,631 29897 Total resources expended 389.082 356,783 Nel exPendIre before galns and lomes 163.8491 115,1981 This page does nol form part of the stotutory financial statements Poge 21
THE BUND UM DETAILED STATEMENT OF FINANCIAL AcnvmES THE YEAR ENDED lSTMAR 31.3.24 31.3.23 Iteallsed recognlsed golns and losses Realised gains on iixed 055et investments 34.118 4.142 Nel expendlture {29,7311 111.0561 This page does not fom port ol the 5totvtory financial 5totcments Page 22