Walsall Society for the Blind (A company limited by guarantee) Annual Report and Financial Statements Year ended 31 March 2025 Company registration number 03674948 (England and Wales) Charity registration number 1075854
Walsall Society for the Blind Limited (A company limited by guarantee) Contents Page Legal and administrative infomation Trustees, Annual Report Independent Examinels report Statem8nl of financlal activities {includirrfJ income and expenditure r8POrt) Balance sheet Notes lo th8 financial statements 9-22 Detailed stalemenl of financial actiwkn'es 23
Walsall Society for the Blind Limited (A company limited by guarantee) Legal and administrative information Charity registration number: 1075854 Company registration number: 03674948 Trustees: John Cwke Julie Harris Amara Ismail El Banna Kevin Merchant Laurence Shore Baljeet Siyan David Smilh Elizabeth Smith Timothy Clifft Richard Meere Stephanie Near Chairman Treasurer Resigned 30th September 2024 Resigned 2181 November 2024 Vice Chairman Resigned 3rd November 2024 Appoinled 21 gl November 2024 Appointed 24th February 2025 Key Management Personnel: Amanda Reed Company Secretary and Chief Executive Officer Registered Office: Hawley House 11 Hatherton Road Walsall Wesl Midlands WS1 1XS Accountant.. Anna Goodwn FCCA Anna Goodwin Accountancy Limited 47 William Street Walsall WS4 2AX Investment Advisor.. EFG Harris Allday 5th fioor 103 Colmore Rowl Birmingham B3 3AG Approved by the Chairman of the Trustees on 20th November 2025 and signed on its behalf by.. David Smith- Trus
Walsall Society for the Blind Limited {A company limited by guarantee Trustees, Annual Report for the year ended 31 March 2025 The Truslees of Walsall Society for Ihe Blind Limited {'the Society) present their report and accounts for the year ended 31st March 2025. Chairman's introduction l am pleased to be able to report anotheT salisfactory year for the SoGiety. We are reporting a deficit of about £38.000 this year. and the finan¢ial position of the Society remains salisfaclory. As ha5 been the case in recent years, the generosity of our donors has enabled us lo continue providing our core seNices wthout depleting the Sociews reserves. We have again been successful in attracting extra funding for specific projects. the details of which are given in Note 17 of these accounts. This additional funding is helping us to broaden the horizons of our work, taking advantage of new technological developments, and catering for the needs of the changing demographic of the people seeking our help. I continue lo be amazed and humbled by the efforts of everyone connected with the Society and its work. I make no apology for repeating my annual message of grateful thanks to all those who make the work of the Society possible.. our donots and fvnder5 for their exiraordinary generosity,. our CEO and her staff for their dedication, hard work, and above all the empathy and care shown for the visually impaired people that seek our help,. our volunteers who give their time. energy. and talents with unstintin9 reliabilily and kindness., and of course. my fellow Trustees. Thank you again, everyone. John Cooke Chairman of Trustees 2025 rustees, re ort The financial slalemenls that follow this report are prepared in accordance with Financial Reporting Standard 102 and the provisions of the Companies Acls. The Society is exempl from the requirement lo have an audit, bul its accounting records and these financial stalements have been Subjected to an independent examination by a firm of Chartered Certified Accounlants. The Society is both a registered company limited by guarantee, and a registered charity The Society's registered company number is 03674948 (England and Wales), its registered charity number is 1075854, and its principal and registered office is". Hawley House 11 Hatherton Road Walsall West Midlands WS1 1XS Each Trustee of the Society is also a Director of the Society. The Society's Trustees and Direclors are.. Chairman John Cooke Julie Harris Amara Ismail El Banna Richard Meere Kevin Merchant Lauren Shore Baljeet Siyan David Smith Elizabelh Smith Tim Clifft Stephanie Neal Treasurer Resigned 30th Seplember 2024 Resigned 2151 November 2024 Vice Chaimian Resigned 3rd November 2024 Appointed 2151 November 2024 Appoinled 241h February 2024
Walsall Society for the Blind Limited (A company limited by guarantee) The Societys Company Secretary and Chief Executive Officer is Amanda Reed. Trustees, Annual Report for the year ended 31 March 2025 (continued) The Society's Memorandum and Articles of As8oaation Are Its goveming documents. The Society is governed by a board of at least three Trustees. Each Trustee is appointed by a vote al a general meeting of the Society and is subject lo re-electson every third year. Every person appointed as a Trustee must also be willing to s&tve as a Director of Ihe Society. The Trustees oversee the running Of'd Society. meeting al lea51 four limes each year to review and plan its operations. The CEO appointed by the Trustees looks after the day-to-day activities of the Society, leading a small team af dedicatéd staff by example wth pasgionata commttment and 8nèrgy. The Society is a long*stablished instiluts'on. well-known and valued by It)cal people. some of whom support the Society with a regular commitment of Iheir kn.me and expertise. In a typical year. the Society benefits from about 1.107 hours of valuable time given by volunteers. Ob'ectives and activitiès The SocletWs purpose and its public benefit The Society exists lo provide information. support and fiiendship to all visually impaired people living in the large Metropolitan Borough of Walsall, now recthJnised as one of Ihe most deprived aa5 of the country with a diverse and ageing population. We aim to help anyone wlh visual impaimienl Ihal needs our help, whether registered blind or not. We are Ihe main and by far Ihe largest prowder of visual impairment services in Walsall, working 8long6ide the Sensory Support team of Walsall Metropoli18n Borough Counc51. The Trustees have considered the Charity Commission's guKiance on the public benefit r8quir8ment of the Ch8riti8s Act 2011 and are satisfied that the Society m86ts that requiram&nt. Servlces provlded by the Soeiety The Society currently supports appr0matelY 1,529 wsually impaired indivKluals and the demand for its services is in¢reasing each year. Our Community Officérs provide personal support to visually impaired people 8nd th8ir families at Hawley House or in their own homes and communities. This one-tone work is al the heart of that w8 do, advising 8nd supporting people with anything that visual impaimienl makes ch811enging in daily life. We maintain Ihe register of Blind and Partially Sighted people on behalf of Walsall MBC. After referral by a Consultant Ophlhalmologisl, our R8gistratlon Officer assists with Iha process of regislration and advises on the benefits it can bring. Our Social Activltles Centre is open every weekday. Conveniently siiuated in Walsall town centre near the bus stab'on, it Is 8 popular meeting place for groups of visually impaired people lo enjoy aclivili&s such as arts and crafts. quizzes and entertainment. Social isdation is often a consequence of sight loss, so our centre is an essential resource for the local ViSLJ211y impaired communty to me8t and thus enable its m8mb8rs lo r8m8in independent in a safe envimnment. It is large enough even trj acc(Mnm¢JYale Ihe Walsall Visually Impaired Bovls Group. Our Informatlon Officer provides infomiati¢)n. advicè and guidance on living with sight loss and the support serwces Walsall Society for the Blind provide. She achieves this by holding information 51ands in the community doing talks and presentations and nthorking wth other organizations. Our weekly Walsall Talklng Newspaper is extremely powlar. Each week in our own in-house studio, we reGord, edit and produce more than four hours ol conlenl which is then distributed on mernory sticks by post, or by digital download. We also produce a monlhly Audlo Magazine wilh more than Iwelve hours of content. Digilal technology designed specifically for visually impaired people is rapidly becoming more advanced and readily available. In rest)onse to growing demand, we have an Assistive Technology Officer. This important service provides both group and one-to-one training sessions on generic smart devices tailored lo meet the needs of each individual. WSB Youth are a youth group for visually impaired aged 0-25 years they offer monthly youth groups, carer coffee catch ups. a private Facebook carerfs support group and offer ongoing indi)ridual support
Walsall Society for the Blind Limited (A company limited by guarantee) Trustees, Annual Report for the year ended 31 March 2025 (continued) Achievements and Qrformance We are always busy, and our worf( beneffts the lives of many visually irnpal people in Walsall. This year we dealt with 2,487 enquiries al our reception desk. handled more than 10.858 cornmunity cases, and offered 2,452 placemenis in our Social Activities Centre (a 'placement' is simply the opportunity for one person lo allend one session). W8 sent out more than 6,791 copies of the Walsall Talking Newspaper, and we know that many more people listen to it through online plattomis. We held 12 WSB Youth group activity's 10 coffee catch up's and prowded 434 individuals wth specialist technology support. Flnanclal review and ollc The Trustees are extremety grateful once again for the astonishingly genemus support Ihe Society has r8ceived from its donors. Donalions and legacies received this year iotal £58,539. slighlly higher than the £50.888 received last yèar. The Society depends heavily upon the donations and legacies it receives because our investment income - this year £89.843 from £91,737 in 2024 - represents only about 23°/o of what we need lo maintain our seNices. thg costs of which this year were £454,2731£389,082 in 20241. Cautious, prudent financial pollcies are adopted by the Truslees lo manage the inevitabl8 fluctuations in the Society's incom&. Mainlaining a Developmènt Fund (described below) is a fundamental and ess8nts.al part of this approach. The Trustees delegate the management of the Societys investrnenls lo a fim of professional investment advisers wth Ihe brief lo maintsin a balanced portfolio wth moderate risk. The Trustees, aim is lo maintain the real value of the Soaety's investrnents in the long term with a prudent mixture of equities, bonds and cash. and that aim continues to be met by the investment advisers. The Trustees are satisfied thal the Societys finan(#al reSoUS are adequate for the conlinued provision of its cor8 seNices for the foreseeable fijlure. Reserves and funds DelaS1s of our SeNeS are shown in nole 17 of the accounts. Our reserves consist of restricted and unrestricted funds. Restricted funds can only be used for specific purposes aCdIng lo conditions imposed by their donors. Note 17 gives details of the restricted lunds. Unrestricted funds are the balance of our reserves. aumulated since the inception of the Society. These funds are reqUId lo ensure that - in accordance wlh the Charity Commission's guidelines - the Society has sufficient funds lo ensure thal il can conlinue to prowde its core serwces lo the suallY impaired community of Walsall for al least another two years. These unrestsicted funds includé a special designated fund, called the Development Fund. The Development Fund was created by the Trust88s lo protect the l¢Mg-lemi future of the Society and thus the interests of the visually impaired community of Wals811. Hawley House - the premises from which the Society has operated since 1986 - is leased on lems und6r which the Society could be asked, with just twenty-four months. notice, lo find altemative premises. The Development Fund is thus intended to provide for the costs of the relocation of the Sociely should this become ne$Sary. The Trustees would seek to ensure ihe Society's security of tenure in any new premises by acqLEiring a freehold or suitably long leasehold interest. the cost of which, together with renovation work, is currently estirnaled by the Trustees to be £1.6 million. Strudurn overnance and mana ement Governing document. organlsatsonal structure and trustees Oelails of Ihe Society's governing documents, organisatsonal structure and trustees are covered wthin the Report of the Trustees above.
Walsall Society for the Blind Limited {A company limited by guarantee) Risk review The Trustees have a duty lo identify and review the risks to which the Soaety is expjsed and lo ensure appropriate controls are in place to provide reasonable assurance against fraud and error. Trustees, Annual Report for the year ended 31 March 2025 (continued) The Trustees are satisfied that adequate systems and pr[edureS are in operabon to mitigate against the major risks faced by the Society lo minimise the potential impact on the Sociely should any of those risks malerialise. A risk register has been established. Further details of the Society's perfOanCe are contained vthin the Report of the Trustees above. Trustees, res onsibilitiès The Iruslees (who are also the Directors of the company for the purposes of company law) are responsible for preparing the Trustees, Annual Report and the financial statements in accordan with applicable law and United 'ngdoM Accountsng Standards {Uniled Kingdom Gen8rally Accepted Accounting Praclicel. Company law requires the Iwslees lo ppare finanoal statements for each flnancl81 year, which give a true and fair view of the slate of affairs ol the charitable company 8nd of the incoming resources and application of resources. including the income and expenditure, of the charitable company for that P8ri0d. In preparing these financial sialemanls, the Iruslees are roquired to- select suitable a¢¢ounting policies and then apply them consistently., obseNe the methods and principles in the Charities SORP 2019 {FRS 102).. make judgements and eslimales thai are reasonable and prudent- slate whether applicable UK Accounting Standards have been followed, sublecl lo any material departures disclosed and explained in the financial sialemenls.. prep8re the financial statements on the going concern basis unless it 15 inappropriate lo presume that the charitable company will coniinue in operdtion. The Irvslees are responsible for keeping adequate accounting records thal disclose with reasonable accuracy al any time the financial posllion of the charitable company and enable them lo ensure that the financial statements comply with the Companies Act 2006. They a also spOnsible for safeguarding the assets of the charitable company and hence for laking reasonable steps for the prevention and detection of fraud and other irregularities. This report has been prepared in ac(X)rdar with the special provisions of Part 15 of the Companies Act 2008 relating lo sm811 companies. This report was approved by the Board ¢)n 201h November 2025 and signed on their behaff by.. John Cooke - Truslee David Smith- Trnslee
Walsall Society for the Blind Limited (A company limited by guarantee) Independent Examinerfs Report to the Members of Walsall Sociéty for the Blind Limited Respectlve Responsibililies of the Trustees and Examiner The Trustee5 (who are also the Dlrectors of the company for the Purposes of company lawl are responsible for the preparation ol the accounts in accordance with the requirements of the Companies Act 2006 {'Ihe 2006 A¢V'). The company's Trustees consider that an audit is not requirad for this yoar under Part 16 of the 2006 Act and that an independent examination is needed. Having satisfied myself that the accounts ol the charitable company are not required lo be audited un(ter Part 16 of the 2006 A¢t and are eligible for independent examinati¢, I report in respect of my examination of your chadlable company's accounts as carried out under Section 145 of the Charities Acl 2011 1"The 2011 Act"). In C8rrying out my examination I have followed the Directions given by the Charity Commission und&r sectian 145151 Ib) of the 2011 Act. Independent Examlnerfs Statement In conne¢bon Mriih my examination for the year ended 31 March 2025. no material matters have come to my attenlion which give me cause lo b81i8ve that in. any ma18ri81 Trspecl.. li) accounting records were not kept in accordance with secb'on 386 of the Companies Act 2006,. or lil) Ihe accounts do not accord with such records., or liiil the accounts do not comply wilh relevant accounling requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a 'tnJe 8nd fair. vi6w which is not a matter consiéered as part of an independent examinats"on', or livl the accounts have not been prepar8d in 8ccord8nc8 vAth the Charitias SORP IFRS1021. I have no concems and have come across no other matters in connection with Ihe examination lo lch allenb'on should be drawn in this report in order lo enable a proper understanding of the a¢Unts to be reached. Anna Goodwin FCCA For and on behalf of Anna Goodwin Accountancy Limited 47 William Street Walsall WS4 2AX 20th November 2025
Walsall Society for the Blind Limited (A company limited by guarantee) Statement of Financial Activities for the year ended 31 March 2025 31.3.25 Total Fund 31.3.24 Total Fund Unrestricted Fund R•strletèd Fund Income and endowmerEts from Donations and legacies 44,183 14.356 58,539 50,888 Charltable ac11vle5 Counol fundfjd and ofher th8ritabl6 activ"e5 35.6 197.584 233,274 173,230 other trading actiwti&s Inv&slment incorne 11.066 89,843 11,066 89.843 9.378 91.737 Totsl 180.782 392,722 325,233 Expenditure on Raising funds 64,263 84.263 51,486 Charltable ac¢lvities Council funded and other charitsble acliwties 174.914 215.096 390,010 337,596 Total 239.177 215.096 454,273 389,082 Nel gains on investment 24,220 24,220 Net IExpondllur•l Transfers between funds 134,1751 11,0371 {3.1561 1.037 131,3321 {7,6431 17 Nel movement in fund3 135,212) {2,1191 137,3321 {7,6431 Ro¢on¢lllatlon of lunds Tolal funds brought foward 2.269,246 36,842 2.306,088 2,313,731 Total funds carried loward 2.234,034 34.722 2.268,756 2,306,088 The staternenl of financial activities includes all gain and losses COgnised in the year. l of the company's acts'vikn'es derive from continuing operati¢)ns during the abov6 two financial periods.
Walsall Society for the Blind Limited (A company limited by guarantee) Balance Sheet as at 31 March 2025 Company number: 03674948 Not•s 31.3.25 Total Fund 31.3.24 Total Fund Unrestricted Fund Restricted Fund Fixed assets Tangibl8 assets Investrnents 11 12 10.047 2.093.009 10,047 2,093,009 2,073,874 2,103.0 2,103.056 2,Q73.876 Current assets Stocks Debtors Cash at bank 13 14 200 3,353 136,571 200 3.353 171,293 458 4,228 242,641 ,722 140,124 34.722 174.846 247,327 Credltors Amounts falling dug within one year 15 (9.1461 19,1461 {15,1151 N•t curr•nt ass•t$ 130.978 34,722 165,700 232,212 Total assets 1953 ¢urr•nt Ilabllltles 2.234,034 34,722 2,268.756 2,306,088 N•t ass•ts 2,234,034 34,722 2,268,756 2,306,088 Funds Unr8siricted fijnds Reslricred funds 16 2,234,034 34.722 2,269.246 36,842 Total fund8 2,268,756 2,306,088 The charitable company is entitled to exemption from audit und8r Section 477 of the Companies Act 2006 for the year ended 31st March 2025. The members have not required the company lo obtain an audit of its financial staiemenls for the year ended 31 st March 2025 in accordance with Section 476 of the Companies Act 2006. These financial statements have been prepared in accordance with the prowsions applic8ble to Charitable companies subject lo the small companies regime. The notes on pages 9 10 22 fom part of these accounts. The financial statements were approved by the Board of Trustees and authorised for issue on 20th November 2025 and were signed on its behalf by= John Cooke - Trustee David Smilh - Tntstee io
Walsall SoGiety for the Blind Limited (A company limited by guarantee) Notes forming part of the financial statements for the year ended 31 March 2025 Accounting policies Basis of preparlng the financial statèments The Society is a public benefit entity as definad by FRS102. The financial statemenls have been prepared in accordance with Accounting and Reporting by Charitses- Statement of Recommended Practice applicable to charities prepanng their accounts in accordance w4th the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS1021. the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Praciice. The financial slalements are prepared on a going concem basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sierling which is the fun¢tion81 curréncy of the Society and rounded lo the nearest £1. The significant accounting policies applied in Ihe preparation of these financial statements are set out below. These policies have been consisienuy applied lo all years presenled unless otherwise slated. Funds Unrestricled funds are available for use at the discretion of th8 Trustees in furtherance of the general objectives of the Society and have not been designated for other purposes. Designated funds comprise unreslricled funds that have been set aside by the Trustees for particular purposes. Further details are given in the TnJslees' Report. ReslrScled funds are funds which are lo be used in accordance with specAfic restrictions imposed by donors or which hav8 been raised by the Society for particular purposes. The costs of raising and administering such fvnds are charged against the Specif fijnd. Further details are given in Note 17. Income All Incoming resources are included in the Statement of Financlal Activities ISOFAI when the Society is legally enlllled lo the income after any perfomiance conditions have been met, th8 amount can be measured reliably, and it is probable Ihal th8 income wll be received. Far donations to be recognised the Society will have been notified of the amounts and the settlement dale In writing. If there are conditions attached to the donation and this requires a level of perfomiance before enlillement can be oblained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the Society and il is probable that th8y will be fvlfilled. Donated facilities and donated professional seNices are recognised in income at their fair value when their economic benefit is probable. il can be measured reliably and the Society has contrd over the item. Fair value is d&termined on the basis of the value of the gifl to Ihe So81Y,. for exarnple the amount the Society would be willing lo pay in the open market for such facilities and servIs. A corresponding amounl is recognised in expenditure. No amount is induded in the financial stalements for volunteer time in line with the SORP IFRS 1021. Further detail is given in the Trustees, ReF)Ort. For legacies entitlement is recognised on the earlier of the Society being notified of an impending distribution or the legacy being received. Sometime5 legacies will be notified to the Soci8ty but il is not possible to measure the amount expectèd to be distributed. On these orLasions the legacy is treated as a contingent asset and disclosed in tho notes to the ffinanaal statements. Incom8 from trading ackn"vilies Inclurjes income earned from fvndraisiftg events and trading activities to raise funds for the Society. Income is received in exchang& for supplying goods and seNces order lo raise fund5 and is recognised when enlillement h8s occurred. Income from govemment and other grants are recognised at fair value when the Stiuety has entitlement after any perfomance conditions have been met. it is probable that the income urill be received and Ihe amount can be measured reliably. If entiement is not mel then these amounls are deferred.
Walsall Society for the Blind Limited (A company limited by guarantee) Notes forming part of the financial statements for the year ended 31 March 2025 (continued) Accounting policies (continuedl Income Inv8slmenl income is eamed through hotding assets lor investment purposes such as shares and bonds. It includes dividends and interest. Where it is not practicable to identify investment management costs incurred Imthin a scheme wilh reasonable accuracy the investment income is reported net of these costs. Investment income is included when the amount can be measured reliably. Interest income is recognised using the effective inieresl method and dividend income is recognised as the Society's right to re1ve payment is established. Expendlture All expendilure is 8¢¢ounted for on an accruals basis and has been classified under headings that aggregate all costs related lo the category. Expenditure is recognised where there is a legal or conslruclive obligation lo make payments lo third parties. it is probable that the settlernenl will be required arKI the amounl of the obligalion can be measured reliably. The costs of raising funds include the costs associated with attracting voluntary income and the costs of trading for fundraising purposes. Expenditure on charitable activities indudes those costs incurred by the Society in the delivery of ils activities and services for its beneficiaries. It includes both costs that can be allOted directly to such actThiities and those costs of an indirect nature necessary to support Ihem. Other expenditure represents those items not falling into the tegOrieS above. Irrecoverable VAT is eharged as an expense against the activity for which expenditure arose. Support C08ts allocation Support costs are those that assist the work of the Society but do nol directly represent charitable aclivities and include office costs. governan¢e Costs and administrative payroll Costs. They are IncUed dir8clly in support of expgndilure on the objects of the Society,. where support costs cannol be diredy attn"buled lo particular headings Ihey have been 811ocaled to cost of raising funds 2nd expendilure on tharitable activitias on a basi5 considerèd to be reasonably consistent with use of the resources. Fundraising costs are those incurred in seeking voluntary coniribulions and do not include the costs of disseminating information in support of ihe charitable aclivilies. The analysis of these c4)sls is included in Notes 6 and 7. Tanglble fixed assets Tangible fixed assets are Staled at cml or valuation less accumulaled depreciation and accumulaled impairment 1055es. Cost includes costs directly attribulable lo making the assel pable of operating as Intended. Assets wth a cost below £5,000 are not C8Pitalised. Depreciation is provided on all tangible fixed assets. al rates calculaled to write off the cost, less estimated residual value, of each asset on a systeMa"C baS over its expected usefijl lifo as follows, Leasehold buildings and improv8rn8nls Compuler equipment 5f*/ts pa straight line 330k pa straight line stocks Stocks are valued at the lower of cost and nel realisable value, after makiro due allowance for obsolete and slow rnoving ilems. 12
Walsall Society for the Blind Limited (A company limited by guarantee) Notes forming part of the financial statements for the year ended 31 March 2025 {continued) Accountlng policies (Ontinued} Pension costs and other postryretirement benefits The Society opèrates a defined contribution pension scheme for its employees. Conlribulions payablè to the pension scheme are charged lo the Statement of Financial Activities in the period lo which they relate. Debtors and creditors raceivablelpayable wlthin one year Debtors and cre(iilors with no stated interest rate and receivable or payable wthin one year are recorded at transaction price. Any losses arising from imp8irmenl are recognised in expenditure. Investments Listed investments are valued al open market value with realised and unrealised gains and losses adjusted within the Sialemenl of Financial Activities in accordance wth the requiremenls of the Charities Statement of Recommended Practice and FRS 102. lrnpairmént Assets not measured al fair value are reviewed for any indicator that the asset may be impair8d at each balance sheet dale. If such indication exists, the recov6rablè amounl of Ihe assel, or thè ass81's cash generating unil, is e$limated and compared lo the carrying amount. Where the carying amount exceeds its recoverable amount an impairment loss is recognised in profil and loss unless th8 asset is carried at a revalued amounl, whara tha impairment loss Is a revalualion decrease. Employment benellts When 8mployees have rendered service to the Society, short.term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected lo be paid in exchange for that sel¢e. The Society operates 8 defined tonlributson Plan for the benefil of its employees. Contributions are expensed as they become payable. Tax The Society 18 an exempt charity wlhin the meaning ofsch8dul8 3 ofthe Chsritias Act 2011 and is considered to pas8 the tests sel out in Paragraph 1 Schedule 6 Finance Acl 2010 so th21 it therefore meets the definition of a charitable company for UK corporation tax purposes and so that the Society is exempl from corporation t8x on its charitsble aclivilies. Golng concern The financial slalemenls have been prepared on a going concem basis as the Tfustees believe that no material uncertainties exst. The Trustees have considered the level of fvnds held and the expected level of income and expenditure for twelve months from authorising Ihese financial slalemonL8. The budgeted income and exper)ditur8 8re sufficient Mrilh the level of reserves for the Society to be able to continue as a going concem. 13
Walsall Society for the Blind Limited (A company limited by guarantee) Notes forming part of the financial statements for the year ended 31 March 2025 (continued) Donatlons and Legaciès Restricted Unrestricted 3113125 3113124 Talking Newspaper General Box collections Day Centre Melrobox collections Legacies General 8nd administration Gift Aid Charities Trust and aid donations 3.573 10,782 108 46 41.953 426 1,617 34 3,573 10,782 108 46 41,953 426 1.617 34 1,435 7.187 85 229 40,765 515 594 78 58.539 58,539 50,887 other trading adivitles R8strictod Unrestrlcted 3113125 3113124 Sale8 ofWTN bricks Sales of living aids and equipment Social 3clivity centre Other income 227 6,082 3,854 J3 227 6,082 3,854 903 5,654 3,231 493 11.066 11,066 9,378 In 2025 all income was atin'bulable to unrestricted funds. Investment Income 3113125 3113124 Interest on inv85lments Inlere5t on UK securities Income from equities and unit trusts 8,385 3,140 78,318 11,501 4,037 76,199 89.843 91.737 In 2025 and 2024 all income from investments was attributable to unrestricted funds. 14
Walsall Society for the Blind Limited (A company limited by guarantee) Notes forming part of the financial statements for the year ended 31 March 2025 (continued) Income from charltsble activities Restricted Unrestricted 3113125 3113124 Walsall Metropolitan Borough Council: Regislralion, Infomiation. and Liaison Service Centre Manag8menl agreement Charitable trusvfunders 18,623 24.009 154.952 18,623 24,009 190,642 18,623 24,009 130,598 35,690 197,584 35,690 233.274 173.230 Raislng funds Voluntary Fundraising 3113125 3113124 Property costs Fundraising and publicity Salaries and staff expenses General and office expenses 1,477 1,477 30 61,523 1,233 1,609 327 47,660 1,890 30 41.279 20,244 1,233 22,954 41.309 64,263 51,486 Charitable activitiès costs RILS wrN Social Commu a¢tlvlty nity work Toch officer CMA Govern 31.3.25 31.3.24 ance Incomlng Rcsources Talking newspaper Consumables Property costs Salaries and staff expenses General & office expenses Professional fees Fundraising Equipment108n 5,647 1.525 2.954 5,647 19,062 28,063 634 10,298 30,567 3,050 8,862 9,912 6,292 4,575 2,954 4.047 2,954 25.451 20.545 70.448 105,867 38,327 16,906 5,632 283,176 245,417 3.700 3.7(Xl 4,934 6,167 3,700 1,233 25.048 23,434 25,048 27,853 19,063 3,764 5,580 55.136 5.580 5,632 390,010 337,5g6 33.198 34,371 87.294 128.238 46,141 Abbreviatlons RILS - Registration servic8 WTN - Talking news CMA- Centre managemenl Professlonal fees include: Accounts Payroll Investment management costs L5
Walsall Society for the Blind Limited (A company limited by guarantee) Notes forming part of the financial stalements for the year ended 31 March 2025 (continued) Tru5tees' rgnumeration and benefrts The Trustees constder the key management personnel to be the Chlef Executive Offer. The total amount of employee benefits receiv8d by key management personnel is £57,14712024= £48.033}- These figures include giss salary. employer national insurance and employer pension costs. The Trustees neither reiVed nor waived any remuneration during the year (2024= none) Trustees, expenses The Trustees did not claim any expenses this year or last year desprt8 being entitled lo do so. Staff costs 3113125 3113124 Wages and salaries Social secunty costs other pension costs 318,453 20,777 5,209 272,858 15,177 5,042 344,439 293,077 The average monthly number of employees during Ihe year was as follows.. 3113125 3113124 Average number of employees 16 15 No employees r1Ved emoluments of fflore than £60.000 durfng the year (2024: none). 10. Govémance Costs 31.3.25 31.3.24 Accountancy I payroll and independent examiner's fèes Support costs Investment management costs 7,547 5,632 11,884 7,476 6,014 11,587 25,063 25,Q77 Accountancy I payroll and independent ex8minefs fees indude< an independent exarnination fee of £1.00012024 £1.000) and payroll services of £ 1,673 {2024 £1,4761- 16
Walsall Society for the Blind Limited (A company limited by guarantee) Notes forming part of the financial statements for the year ended 31 March 2025 {continued) 11. Tanglble fixed assels Short Leasehold Compuler Equipment Totals Cosi At 1 st April 2024 Addition As al 31st March 2025 121.636 11,245 132,881 121.636 21,290 142,927 Depreciation At 1s1 April 2024 and 31° March 2025 121,635 11,244 132,879 Net book value At 31 st March 2025 10,046 10,047 At 31* March 2024 12. Fixed asset investment Llsted Investments Market value Al 1 Sf April 2024 Additions Oisposals Nel unrealised 98ins 2,073,874 106,572 {70,566) {16,8711 At 315t March 2025 2,093 009 Net book valuo Ai 31 St March 2025 2,093,009 At 31 $1 March 2024 2,073,874 Cost or valuation as al 3151 March 2025 is represented by: Listed investments Valuation in 2025 Cost 31.3.25 31.3.24 Fixed interast funds and gifts Equities Property and infrastruciure fvnds 162,384 1,599,895 330,730 2,093,009 134,391 1,607,362 332,121 2,073,874 17
Walsall Society for the Blind Limited (A company limited by guarantee) Notes forming part of the financial statements for the year ended 31 March 2025 (continued) Investments were valued al closing rnid-rnarkel value a5 al 31 March 2025 by EFG Harris Allday. independent stockbrokers regulated by the Financial SeNices Authority and a member of the London Stock Exchange. 13. Stocks 31.3.25 31.3.24 Stocks 200 458 14. Debtors 31.3.25 31.3.24 Payments 3,353 4,228 15. Credltors: Amounts falllng due within one >par 31.3.25 31.3.24 Trade creditors Social security and other taxes Other creditors Accnjed expenses 2,032 4.434 1.038 7.611 15,115 5,457 1,290 1,552 9,146 18
Walsall Society for the Blind Limited (A company limited by guarantee) Notes forming part of the financial statements for the year ended 31 March 2025 (continued) 16. Movement in funds Opening Balance Incomlng Resource Resources Expended Galns I (Losses) Transfers Closing Balance Unrestricted.. General fund Development fund 669.246 1,600,000 180.782 (239.1771 24,220 11,0371 634,034 1,600.000 2,269,246 180.782 {239.177) 24,220 (1,037) 2,234.034 Restrlcled funds General reslrict8d C8nlre management Children in Need Poslcode LOCAI Trust The Hospital Saturday Fund D Bostock Legacy The National Lottery Community Fund- RC Midlands Region Bemard Sunley Foundation The Screwfix Foundation Boshier Hinton The Sainlbury Trust Tesco Community Grant One Walsall WM Police Hospital Saturday Fund National Lollery Awards for All Grantham Yorke Trust Vision Foundation The Rowlands Trust Baron Davenport's Charity Children in Need Skipton Building Society Lillie Johnson Charitable Trusl B&Q Foundatson The Headley Foundation The Morrisons Foundation 32.978 24,009 {32,9781 {29,9101 1,037 1,037 15,9011 429 1,530 68 497 1.530 875 875 1,503 {1,503) 5,122 62,772 {67,926) (32) 2,770 (2.770) 1.993 {940) 1,053 1,143 2,000 1,000 (1,143) (2.000) (1.000) 2.380 (2,380> 119 (186> {671 14,465 114,5781 11131 2,388 {2,3881 24,389 2,435 1.000 (26.743) (2.435) (1.000) 12.3541 13.944 1.898 (5.761) {1.898) 8,183 500 (500) 5,ofKI 1,898 (1.258) (1.898) 3,742 5.615 (5,615) The Dumbreck Charity Arnold Clark 1.000 (1,000) 1.01i0 (934> 66 19
Walsall Society for the Blind Limited {A company limited by guarantee) BUPA Foundation The DMF E15is Charitable Trusl The Clive Richards Foundation CB&HH Taylor 1984 Trust The Grimmitt Tnjst The Michael Marsh Trust The 29th May 1961 Trust TheW.E.D Ch8rilable Trust The Edvrdrd & Dorothy Cadbury Trust Bentley Tesco-stronger Starts Severn Trent Water 1,800 357 5.000 {4,643) (339) 2,661 3,000 1.000 1,000 1,500 1.200 1,500 100 (1.100) 5,(MJO s.000 500 500 2,000 (337) 1,663 500 1,125 500 1,125 10,000 10.000 36,842 211.938 {215,0951 1,037 34,722 24,220 2,268,576 Total funds 2.306.088 392.720 {454,2721 Community Sight Loss Support.. The Natlonal Lottery Community Fund - RC Midlands Region, has provided us th our second year of funding from ils Reaching Communities Fund. This generous support, along wih donations from Baron Davenport's Charity and The Dumbreck Charity, has enabled us to deliver much of our community based outreach support to adutts wlh visual impaiment. The National Lottery Community Fund grant has also funded our infopmalion servic£ for a second year, en8bhng us to continue raising awareness of sight loss and helping us to reach out to unregistered individuals who 8re slwggk'ng with visit)n challenges. Chlldren and Young P8ople'. B8C Children in Need funding has enabled us lo conlinue to deliver our new Youth Club engagement activlty and support for young visually impaired service users: wtlh sensory equipment and games proiryded by Birniingham Hospital Salurday Fund. Social Activities.. Donations from the Lillie Johnson Charitable Trust. DMF Ellis Chanlabla Trust, Grimmill Trust and 29lh May 1961 Charitable Trusl 11 help to support to costs of deliv8ring daily social aetivilies for peopl8 wlth sight loss. In addition, a donation from th8 Morrisons Foundation has enabled us lo carry out an audio visual Upgde to enhance our service users experience in our Social Activity Centre. Assistive Te¢hnology'. Grants from the Rowlands Trust, Clive Richards Foundation, CB & HH Taylor 1984 Trust, MiGhael Marsh Tnjst, the WED Charitable Trusl. Bentley ALC, Edward & Dorothy Cadbury Trust and Tesco Stronger Starts have enabled us to commence Ihe upgrade of our assi8tive lechnology equipment. We have already purchased a range of new assistive technology and magnification devices and will continue to replace much of our outdated tech with the help of these donabons. This upgrade will enable us lo offer a popular new range of assistive technology and magnification equipmenl lo our sighl105s community for demonstration and loan purposes. Magnification kit bags hosting a range of handhdd devices are also now availablo for our team lo t8ke out on community home visits thanks to donation5 from the Amold Clarf( Community Fund, Skiplon Building Society Charitable Foundation and the Hedley Foundation. Mental Health aNI Wellbeing-. A grant from Fight for Sight has enabled u5 to deliver a third year of mental health and wellbeing support for people with sight loss. Thi5 project conlinues to support people wth sight loss lo improve their mental health and wellbeing by assisting Ihem to regain their independence and confidence and reduce their isolation. Centre upgr2des-. A grant from the Sevem Trent Community Fund has been secured to enable us to make much needed fl<3oring improvements to our Social ActitY Centre. kitchen. hallway and washrooms. whilst grants from the BUPA and B & Q Foundations will enable us to create a fabulous sensory garden and sheltered outside space for our clients to enjoy. 20
Walsall Society for the Blind Limited (A company limited by guarantee) Notes forming part of the financial statements for the year ended 31 March 2025 (continued) 17. Movement in funds Further details of restricted and unrestricted funds are indvded wthin Ihe Report of the TNs18es. Analysis of net assets between funds Balance at 1 April 2024 Incoming re$our¢e$ Resources expended Transferslg ain5 Balance at 31 March 2025 Restrlcled funds General fund 36,842 211.939 215,096 1.037 34,722 Unrostrf¢ted funds General fund 2.269.246 180,782 239,177 23,183 2,234,034 Total funds 2.306,088 392 721 454.273 24.220 2 268,756 Comparative informatlon In respect of the precedlng period Balance at 1 Aprll 2023 Incomlng re$our¢e$ Re$our¢e$ expended Transforslg alns Balance at 31 March 2024 RestrlctÈd funds General fund 41,367 157,531 177.419 36,842 Unrestrlcted funds General fund 2,272,364 167.702 211,663 40,843 2,269,246 Total funds 2.313.731 325,233 389 082 56,206 2 306,088 18. Employee ben8fil obllgatlons The Society operates 8 defined contribution pension stheme for its employees. The amount recognised as an exp8nse in the period was £5,209 {2024.. £5,042). The defined contribution liability is allocated lo each activity based on stsff hours, as per staff salaries and social security costs. 19. Related party dis¢losures The Society employs a re18tive of one of its Trust88s. The ernployee, A Elliott is not finan811Y dependent on the Trustee in question, and the terms of empk)ymenl are negotiated by the CEO wilhoul any involvement of that Trustee. The other Trustees are satisfied this is a transaction that brings very significant benefits lo the Society. thus enabling it to meet its charitable objectives. The employee's emoluments for the year ended 31st March 2025 were £29,018 (2024 £21,223). 21
Walsall Society for the Blind Limited (A company limited by guarantee) Notes forming part of the financial statements for the year ended 31 March 2025 (continued) There were no other related paty transactions for the current or previous years requiring disclosure in the accounts. 20. Members liability In accordance wlh the Memorandum 8nd Artides of Association each members, liability is limited to £10 in the event of winding up of the Sociely. 21. Share capital and limited by Guarantee The Society does not have an aulhorised or issued share capital as its liability is limited by the guarantee of ils members, each guaranteeing up to £10 of the Society's debl. 22
Walsall Society for the Blind Limited (A company limitèd by guarantee) Detailed statement of financial activities 3113125 3113124 Income and endowments Donations and lega¢$ Donations Legacies 16.585 41,953 10,123 40,765 58,539 50,888 Other trading actlvlties Other trading actiwties 11,066 9,378 Investment income Dividend and interest income 89.843 91,737 Charltable activities Charitsble aclivilie5 233.273 173,220 Total incoming •xpondlture 392,721 325,233 Expenditure Fundralslng, donations and legacles Wages Fundraising and pUblIlY Staff expenses 41,204 31 75 30,362 327 81 41,310 30,770 Other tradlng a¢tlvitie$ PrL)perty costs Staff expenses General and office expenses 1,477 20,244 1,233 1,609 17,217 1.890 22,954 Charitablè activltlas Wages Social security Pensions Talking newspaper Sundry grants Propety costs staff expenses General and office ewenses Accountancy Fundraising and publicity Stockbroker fees 251,607 20,770 5,209 5.647 5,580 28.062 5,323 48,381 7.547 221,228 15,177 5,042 634 212 30,567 3,970 37.939 7,476 3,764 11,587 11,884 390,010 454.273 337.596 389.082 Total resourc£s expended Net expenditure before galns and k)sses {61,552) 163,849) Réalised recognlsed gains and losses Realised gains on fixed asset investments Unrealised loss 41,091 (16,871) 56,206 Net expenditure {37,332} 17,6431 23