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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|
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|Reference|and administrative|and administrative|details||||
|---|---|---|---|---|---|---|
|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|||
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|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)|
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|||||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|
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||||||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|
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||||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|
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||||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|
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|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|
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|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|
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|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|
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|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|
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|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|
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|||||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|
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|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|
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|22.|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|
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|||||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||
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||||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|
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|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|