2021-12-31-accounts - British Wireless For The Blind Fund

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			Pages
Trustees' annual report (incorporating the director's report)			1to 10
Independent	auditor's report to the members		11to 15
Consolidated	statement offinancial activities (including	income and expenditure
account)			16
Consolidated	statement offinancial position		17to 18
Company statement offinancial position			19
Consolidated	statement ofcash flows		20
Notes to the	annual report and flnancial statements		21-37

Reference	and administrative	and administrative
Registered	charity name		British Wireless For The Blind Fund Limited
Charity registration		number	1078287
Company	registration	number	3870182
Principal	office and registered		10Albion Place
office			Maidstone
			Kent
			ME14 5DZ
The trustees
			Mr DKSmith
			Mr PAEaston
			MrJ CD Mowe
			Mr MANoble
			Mr MJWood
			Mrs MRGrainger
			Mr GThorn
			Mrs LMack
			Mr MBrace
			Mr Q Howard
A.uditor			Opass Billings Wilson BcHoney	LLP
			Chartered Certified Accountants	&statutory	auditor
			Numeric House
			98 Station Road
			Sidcup
			Kent
			DA15 7BY
Bankers			HSBC Bank Plc
			196Oxford St
			London
			W1D 1NT
Solicitors			Michelmores
			Woodwater House
			Pynes Hill
			Exeter
			EX25WR

ontrol ithas created Designated Reserv	es for anumber ofkey projects.
Building maintenance		100,000
Legacy income provision		100,000
Reserve for the purchase ofaminimum	order quantity ofnew sets	665,000
Research &Development		250,000
Redundancy Costs		105,000
Working Capital		176,526
Digital set replacement
Total Designated Funds as per accounts		4,146,526
Designated Funds required		4,927,600
Over/(Under)		(781,074)

				Year	to31Dec2021	to31Dec2021	2020
				Unrestricted	Restricted
				funds	funds	Total funds	Total funds
			Note
Income and endowments
Donations and legacies			6	776,695	200,927	977,622	905,454
Other trading activities			7	106,688		106,688	143,562
Investment income			8	77,806		77,806	80,227
Other
Total income				961,189	200,927	1,162,116	1,129,243
Expenditure
Expenditure on raising funds:
Costs ofraising donations		and
legacies			9	188,374		188+74	197,391
Costs ofother trading activities			10	91,991		91/91	141,254
Investment management		costs		25,433		25,433	16,341
Expenditure on charitable	activities		11,12	936,397	230,747	1,167,144	1,143,365
Total expenditure				1,242,195	230,747	1,472,942	1,498,351
Net gains/losses on investments			14	281,176	(2,510)	278,666	(78,993)
Net expenditure and net	movement		in funds	170	(32,330)	(32,160)	(448,101)
Transfer between funds				2,766	(2,766) '
				2,936	(35,096)	(32,160)	(448,101)
Reconciliation offunds
Total funds brought forward				4,121,639	180,459	4@02,098	4,750,199
Total funds carried forward				4,124,575	145,363	4,269,938	4,302,098

					2021		2020
				Note
FIXEDASSETS
Intangible assets				20		95,182	150,039
Tangible fixed assets				21		972/46	990,507
Investments				22		3,203,048	3,036,330
						4,270,576	4,176,876
CURRENT ASSETS
Stocks				24	83,533		92,162
Debtors				25	175,568		390,231
Investments				26	115,377		30,171
Cash at bank and in		hand			654,478		593,098
					1,028,956		1,105,662
CREDITORS: amounts			falling due within one year	28	1,029,594		980,440
NET CURRENT	ASSETS					(638)	125,222
TOTAL ASSETSLESSCURRENT LIABILITIES						4,269,938	4,302,098
NET ASSETS						4,269,938	4,302,098
FUNDS OFTHE	CHARITY
Restricted funds						145,363	180,459
Unrestricted funds:
Revaluation	reserve				(251873)		(251,373)
Other unrestricted			income funds		4875,948		4,373,012
Total unrestricted		funds			4,124,575		4,121,639
Total charity funds				30		4,269,938	4,302,098

			2021	2020
		Note
CASH FLOWS FROM OPERATING ACTIVITIES
Net expenditure			(32,160)	(448,101)
Adjustments for:
Depreciation oftangible fixed assets			22,474	26,424
Amortisation ofintangible assets			54,858	54,858
Net gains/losses on investments			(278,666)	78,993
Dividends, interest and rents &om	investments		(77,806)	(80,224)
Other interest receivable				(3)
Interest payable			54,103	41,030
Loss on disposal oftangible fixed	assets
Accrued Expenses			2@69	(1,/1/)
Changes in:
Stocks			8,629	16,892
Trade and other debtors			214,662	404,/18
Trade and other creditors			46,785	(58,/98)
Cash generated from operations			15/48	34,678
Interest paid			(54,103)	(41,030)
Interest received				3
			(38,855)	(6,349)
CASH FLOWS FROM INVESTING ACTIVITIES
Dividends, interest and rents &om	investments		77,806	80,224
Purchase oftangible assets			(4@13)	(6,33/)
Proceeds &om sale oftangible assets
Purchase ofintangible assets
Purchases ofother investments Proceeds &om sale ofother investments			(107,475) 219,423	(1,849,527) 1,896,731
Net cash (used in)/&om investing	activities		1&5,441	76,097
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds &om borrowings
Net cash &om financing activities
NET (DECREASE)/INCREASE	IN CASH AND CASH EQUIVALENTS		146,586	69,748
CASH AND CASH EQUIVALENTS AT BEGINNING OFYEAR			623,269	553,52/
CASH AND CASH EQUIVALENTS AT END OFYEAR		27	769,&55	623,269

			2021	2020
Income			1,060,382	999,050
Gift aid from subsidiary company
			1,060,382	999,050
Expenditure	on charitable activities		1,163,844	1,140,06'5
Expenditure	on raising funds		215,277	215,431
Net gains/(losses) on investments			278,666	(78,993)
Net Income/(Expenditure)			(40,073)	(435,439)
Total funds brought		forward	4,331,962	4,767,401
Total funds	carried	forward	4491,889	4,331,962
Represented	by:
Unrestricted	income	funds	4,146,526	4,152,336
Restricted funds			145,363	179,626
			4,291,889	4,331,962

Donations and legacies
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2021
DONATIONS
Other public donations	119,169	10,000	129,169
LEGACIES
Legacies	656,564		656,564
GRANTS
Grants &om trusts and foundations	962	190,927	191,889
	776,695	200,927	977,622

6.	Donations and legacies (cona'nued)	Donations and legacies (cona'nued)
				Unrestricted	Restricted	Total Funds
				Funds	Funds	2020
	DONATIONS
	Other public donations			81,531	22,815	104,346
	LEGACIES
	Legacies			635,980		635,980
	GRANTS
	Grants &om trusts	and foundations		21,819	143,309	165,128
				739,330	166,124	905,454
7.	Other trading activities
			Unrestricted	Total Funds	Unrestricted	Total Funds
			Funds	2021	Funds	2020
						f
	Sales ofequipment	and services	101,734	101,734	130,193	130,193
	Fundraising events
	Sale ofChristmas	cards	4,954	4,954	13,369	13,369
	Sale ofdonated goods
			106,688	106,688	143,562	143,562
8.	Investment income
			Unrestricted	Total Funds	Unrestricted	Total Funds
			Funds	2021	Funds	2020
	Income &om listed	investments	77,806	77,806	80,224	80,224
	Interest on cash deposits				3	3
			77,806	77,806	80,227	80,227

Costs ofraising do	nations and leg	acies
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2021	2020
Donations and grants
Wages and salaries			91,307		91/07	74,126
Employers national	insurance		10,285		10,285	57,608
Pension costs			10,153		10,153	22,865
Private healthcare	insurance		3,348		3@48	3,207
Travel and subsistence			49		49	33
Legal, professional	and consultancy	fees	545		545	351
ITand communications			5,791		5,791
Printing, postage and stationery			27/84		27,284	803
Bank charges			1,033		1,033	1,018
Publicity and events			1,300		1@00
			151,095		151,095	160,011
Legacies
Wages and salaries			33,787		33,787	33,888
Employers national	insurance		3,492		3,492	3,492
			37+79		37,279	37,380
			188,374		18&/74	197,391
Costs ofother trading activities
			Unrestricted	Total Funds	Unrestricted	Total Funds
			Funds	2021	Funds	2020
			f.	f.	f.
Human resources			7,737	7.737	30,948	30,948
Publicity k, events					307	307
Printing, postage and stationery			1,217	1,217	3,947	3,947
IT and communications			1,532	1,532	1,497	1,497
Bank charges			4,961	4,961	3,047	3,047
Legal, professional	and consultancy	fees	84	84	388	388
General expenses			25	25	13	13
Goods for resale			76,390	76,390	100,744	100,744
Insurance			45	45	106	106
BadDebts					257	257
			91,991	91,991	141,254	141,254

Expenditure	on	charitabl	e act	i	vities by fund	type
							Unrestricted	Restricted	Total Funds
							Funds	Funds	2021
Expenditure	ofraising funds on				other activities
Expenditure	on	charitable	activities				468,776	230,747	699,523
Support costs							467,621		467,621
							936,397	230,747	1,167,144
							Unrestricted	Restricted	Total Funds
							Funds	Funds	2020
Expenditure	ofraising funds on				other activities
Expenditure	on	charitable	activities				487,446	199,216	686,662
Support costs							456,703		456,703
							944,149	199,216	1,143/65
Expenditure		on charitable		activities by activity type
						Activities
						undertaken		Total funds	Total fund
						directly	Support costs	2021	2020
Expenditure	ofraising funds on				donations,
grants and legacies							146,351	146@51	144,217
Expenditure	ofraising funds on				other
activities
Expenditure	on	charitable	activities			699,523	306,630	1,006,153	975,940
Governance	costs						14,640	14,640	23,20B
						699,523	467,621	1,167,144	1,143,365

13.	Analysis ofs	up	port	costs
					Raising		funds
					on	donations,		Expenditure
						grants and		on	charitable	Governance
						legacies			activities	costs	Total 2021	Total 2020
							f,		f,
	Staffcosts					59,586			126,621		186,207	149,870
	Premises					15,310			30,277		45,5&7	50,840
	Communications		and	IT		14,324			30,438		44,762	61,479
	General office						2,769		5,884		8,653	16,000
	Finance costs						66		7		73	1,047
	Insurance						2,175		4,623	1,411	8,209	7,794
	Travel and subsistence						3,645		7,745		11,390	11,542
	Legal and professional			fees		15,035			31,949	929	47,913	42,455
	Depreciation					24,746			52,585		77,331	81,282
	Publicity and events						3,614		7,679		11,293	14,028
	General expenses						5,081		8,822		13,903	7,566
	Audit fees									12,300	12,300	12,800
						146,351			306,630	14,640	467,621	456,703
14.	Net gains/losses		on	investments
										Unrestricted	Restricted	Total Funds
										Funds	Funds	2021
	Gains/(losses)		on listed investments							281,176	(2,510)	278,666
										Unrestricted	Restricted	Total Funds
										Funds	Funds	2020
	Gains/(losses)		on listed investments							(79,826)	833	(78,993)
15.	Net expenditure
	Net expenditure		is stated aAer charging/(ereditingl:
											2021	2020
	Amortisation	ofintangible			assets						54,857	54,858
	Depreciation	oftangible fixed assets									22,474	26,424

				2021
				No.
Fundraising	and publicity			2
Field				4
Management	and administration			5
Support				2
				13
The number	ofemployees	whose remuneration	for the year fell within the following	bands, were:
				2021	2020
				No.	No.
870,000to f,79,999				1	I

20.	Intangible assets
	Group and charity			Development
				costs
	Cost
	At 1January 2021 and 31December 2021			274488
	Amor tisation
	At 1 January 2021			124~9
	Charge for the year			54,857
	At 31December 2021			179,106
	Carrying amount
	At 31December 2021			95,182
	At 31December 2020			150,039
21.	Tangible tlxed assets
	Group and charity	Land and
		buildings	Equipment	Total
	Cost
	At 1 January 2021	1,015,336	207,618	1,222,954
	Additions		4,313	4,313
	Disposals
	At 31December 2021	1,015,336	211,931	1/27/67
	Depreciation
	At 1 January 2021	45/62	187,185	232,447
	Charge for the year	11,533	10,941	22,474
	Disposals
		56,795	198,126	254,921
	Carrying amount
	At 31December 2021	958,541	13,805	972@46
	At 31December 2020	970,074	20,433	990,507

Investments
Group	Listed	Other
	investments	investments	Total
		f,
Cost or valuation
At 1 January 2021	2,963,263	73,067	3,036,330
Additions	107,475		107,475
Disposals	(219,423)		(219,423)
Fair value movements	281,176	(2,510)	278,666
At 31December 2021	3,132,491	70,557	3,203,048
Carrying amount
At 31December 2021	3,132,491	70,557	3,203,048
At 31December 2020	2,963/63	73,067	3,036,330
Charity		Shares in
	Listed	gl'oup	Other
	investments	undertakings	investments	Total
Cost or valuation
At 1 January 2021	2,963/63		73,067	3,036/31
Additions	107,475			107,475
Disposals	(219,423)			(219,423)
Fair value movements	281,176		(2,510)	278,666
At 31December 2021	3,132,491		70,557	3,203,049
Carrying amount
At 31December 2021	3,132,491	1	70,557	3,203,049
At 31December 2020	2,963/63	1	73,067	3,036,331

				2021	2020
	Turnover ofwhich KO (2020 - KO) was to the		Charity	101,734	130,193
	Cost ofsales and administration	costs		93,821	142,855
	Net Profit			7,913	(12,662)
	Amount Gift Aided to the Charity
	Retained in the Subsidiary			7,913	(12,662)
	The summary assets and liabilities	ofthe subsidiary	were:
				2021	2020
	Current Assets			218,441	106,114
	Current Liabilities ofwhich f216,025 (2020-		f86,377)is due to the Charity	240,391	135,977
	Total Net Assets			(21,950)	(29,863)
	Aggregate Share Capital and Reserves			(21,950)	(29,863)
24.	Stocks
	Group			2021	2020
	Goods forresale			27,393	92,E62
	Goods forpermanent &eeloan			56,140
				83,533	92,E62
	Charity			2021	2020
	Goods for permanent &eeloan			56,140

			Group		Parent	Charity
			2021	2020	2021	2020
Amounts	owed by group undertakings				216,025	86,377
Commercial		trade debtors	56,&28	806
Prepayments		and accrued income	31,486	350,665	31,846	350,665
Other debtors			87,254	38,760	87,254	38,045
			175,56$	390,231	334,765	475,087
Investment	s
			Group		Parent Charity
			2021	2020	2021	2020
Short-term		deposits	115@77	30,171	115@77	30,171

Cash and c	ash equivalents comprise the	following:
		Group
		2021	2020
Cash at bank and in hand		654,478	593,098
Short-term	deposits	115@77	30,171
		769,855	623,269

Creditors: amounts falling due within o	ne year
	Group		Parent	Charity
	2021	2020	2021	2020
Bank loans and overdrafts	850,000	850,000	850,000	850,000
Trade creditors	122+78	70,943	120,458	33,318
Accruals and deferred income	34,770	32,401	34,770	32,401
Social security and other taxes	10,567	14,500		14,500
Other creditors	11,279	12,596		621
	1,029,594	980,440	1,005,228	930,840

Unrestricted	funds
		At				Gains		At
Group		1 January				and	Prior year 31December
		2021	Income	Expenditure	Transfers	losses	adjustments	2021
						6
General funds		(29,864)	961,189	(1,242,195)	7,743	281,176		(21,951)
Revaluation	reserve	(251,373)						(251473)
Digital set
replacement		2,750,000						2,750,000
Designated	fund	1,652,876			(4,977)			1,647,899
		4,121,639	961,189	(1,242,195)	2,766	281,176		4,124,575
		At				Gains		At
Group		I January				anti	Prior year 31December
		2020	Income	Expenditure	Transfers	losses	adjustments	2020
General funds		(17,202)	963,119	(1,299,135)	403,180	(79,826)		(29,864)
Revaluation	reserve	(251,373)						(251,373)
Digital set
replacement		2,750,000						2,750,000
Designated	fund	2,056,056			(403,180)			1,652,876
		4,537,481	963,339	(3299,135,j		(79,826)		4,121,639
		At				Gains		At
Parent	charity	1 January				and	Prior year 31December
		2021	Income	Expenditure	Transfers	losses	adjustments	2021
General funds			859,455	(1,148,374)	7,743	281,176
Revaluation	reserve	(251,373)						(251473)
Digital set replacement		2,750,000						2,750,000
Designated	fund	1,652,876			(4,977)			1,647,899
		4,151,503	859,455	(1,148,374)	2,766	281,176		4,146,526
		At				Gains		At
Parent	charity	1 January				and	Prior year 31December
		2020	Income	Expenditure	Transfers	losses	adjustments	2020
General funds			832,926	(1,156,280)	403,180	(79,826)
Revaluation	reserve	(251,373)						(251,373)
Digital set
replacement		2,750,000						2,750,000
Designated	fund	2,056,056			(403,180)			1,652,876
		4,554,683	832,926	(1,156,280)		(79,826)		4,151,503

								Gains and	At
		At	1	Jan 2021	Income	Expenditure	Transfers	losses	31Dec2021
								f,
Restricted	fund			180,459	200,927	(230,747)	(2,766)	(2,510)	145,363
				At				Gains and	At
			1	Jan 2020	Income	Expenditure	Transfers	losses	31Dec 2020
Restricted	fund			212,718	166,124	(199,216)		833	180,459

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2021
		E
Tangible fixed assets	4,197,509	73,067	4,270,576
Current Assets	(72,934)	72,296	(638)
Net assets	4,124,575	145,363	4,269,938
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2020
Tangible fixed assets	4,103,809	73,067	4,176,876
Current Assets	17,830	107,392	125,222
Net assets	4,121,639	180,459	4/02,098

Analysis ofchanges in net debt
			At
	At 1 Jan 2021	Cash flows	31Dec 2021
Cash at bank and in hand	593,098	61,380	654,478
Debt due within one year	(850,000)		(850,000)
Current asset investments	30,171	85,206	115,377
	(226,731)	146,586	(80,145)

Operating lease commitm	Operating lease commitm	ents
The total future minimum		lease payments	under	non-cancellable operating	leases are as follows:
				Group		Parent Charity
				2021	2020	2021	2020
							f
Not later than 1year				3,446	16,734	3,446	16,734
Later than	1 year and not	later than 5years			3,446'		3,446
				3,446	20,180	3,446	20,180