2022-12-31-accounts - British Wireless For The Blind Fund

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				Pages
Trustees' annual report		(incorporating the director's report)		1 to 10
Independent	auditor's	report to the members		11 to 14
Consolidated	statement	offinancial activities (including	income and	15
expenditure	account)
Consolidated	statement	offinancial position		16
Company statement offinancial position				17
Consolidated	statement	ofcash flows		18
Notes to the	annual report and financia statements			19to 34

The trustees, who are	The trustees, who are	The trustees, who are	also the directors for the purposes ofcompany	also the directors for the purposes ofcompany	law, present their report and the Annual	law, present their report and the Annual
report and		financial statements		ofthe charity for the year ended 31December 2022.
Reference		and administrative		details
Registered		charity name		British Wireless For The Blind Fund
Charity	registration		number	1078287
Company		registration	number	3870182
Principal	office and registered			10Albion Place
office				Maidstone
				Kent
				ME14 5DZ
fhe trustees
				Mr DK Smith
				Mr P A Easton	Passed	rnray 17/02/2023
				Mr JCD Mowe
				MrMANoble
				Mr MJWood
				Mrs MRGrainger
				Mr G Thorn
				Ms LMack
				Mr M Brace
				Mr Q Howard
Company	secretary			Mrs MRGrainger
Auditor				Opass Billings Wilson &Honey	LLP
				Chartered Certified Accountants	&statutory	auditor
				Numeric House
				98 Station Road
				Sidcup
				Kent
				DA15 7BY
Bankers				HSBCBank Plc
				196Oxford St
				London
				WID 1NT
Solicitors				Michelmores
				Woodwater House
				Pynes Hill
				Exeter
				EX25WR

Building maintenance		100,000
Legacy income provision		100,000
Reserve for the annual purchase ofa minimum	order quantity ofsets	665,000
Redundancy Costs		105,000
Working Capital		275,000
Digital set replacement		2,750,000
Designated Funds required		3,995,000
Total Designated Funds as per accounts (Note 30)		3,995,000

					Unrestricted	Restricted	Total Funds	Total Funds
				Note	Funds	Funds	2022	2021
Income and endowments
Donations and legacies					1,305,518	118,123	1,423,641	977,622
Other n'ading activities					156,528		156,528	106,688
Investment income					61,213		61,213	77,806
Other income					1,025		1,025
Total income					1,524,284	118,123	1,642,407	1,162,116
Expenditure
Expenditure on raising funds
Costofraising donations		and legaci		9	245,094		245,094	188,374
Costofother trading	activities			10	132,494		132,494	91,991
Investment management		costs			28,514		28,514	25,433
Expenditure on charitable	activities			11,12	1,007,715	136,685	1,144,400	1,167,144
Total Expenditure					1,413,817	136,685	1,550,502	1,472,942
Net gains/losses on investments					(272,455)	(10,225)	(282,680)	278,666
Net expenditure nnd net	movement		in funds		~363,988)	~28,787)	~390,775	(32,160)
Reconcilation offunds
Total funds brought forward					4,124,575	145,363	4,269,938	4,302,098
Total funds carried forward					3,962,587	116,576	4,079,163	4,269,938

								2022	2022			2021	2021
				Note
Fixed Assets
Intangible assets					20					40,324				95,182
Tangible fixed assets					21					958,341				972,346
Investments					22				2,993,462				3,203,048
									3,992,127				4,270,576
Current Assets
Stock					24		32,991					83,533
Debtors					25		74,152				175,568
Investments					26		9,350				115,377
Cash at bank and in	hand						968,561				654,478
							1,085,054				1,028,956
Creditors: amounts	falling due within	one	year		28		998,018				1,029,594
Net current assets										87,036				(638)
Total assets less current liabilities									4,079,163				4,269,938
Funds ofthe group
Restricted funds										116,576				145,363
Unrestricted funds									3,962,587				4,	124,575
Total group funds					30				4,079,163				4,269,938
For the year ending 31December 2022 the charity				was entitled to exemption				from		audit under	section 477ofthe
Companies Act 2006relating to small companies,				however	the charity is subject				to	audit under	the	Charities	Act
2011.
These Annual report	and financial statements		have	been prepared			in accordance		with the provisions			applicable		to
companies subject to the small companies'		regime.
These Annual report	and financial statements		were	approved		by the board of		trustees and authorised				for issue on
31August 2023 and	are signed on behalf	of	the board by:
Mr D K Smith				Mr	JCDMowe
Trustee				Trustee

					2022		2021
				Note
Fixed Assets
Intangible assets				20		40,324		95,182
Tangible fixed assets				21		958,341		972,346
Investments				22	2,993,463		3,203,049
					3,992,128		4,270,577
Current Assets
Stock				24	26,336		56,140
Debtors				25	344,025		334,765
Investments				26	9,350		115,377
Cash at bank	and in hand				690,288		520,258
					1,069,999		1,026,540
Creditors: amounts		falling due within	one year	28	964,424		1,005,228
Net current	assets					105,575		21,312
Total assets	less current liabilities				4,097,703		4,291,889
Funds ofthe	charity
Restricted funds						116,576		145,363
Unrestricted	funds				3,981,127		4,	146,526
Total charity	funds			30	4,097,703		4,291,889

				2022	2021
			Note
Cash flows from operating	activities
Net expenditure				(190,775)	(32,160)
Adjustments for:
Depreciation oftangible fixed assets				20,319	22,474
Amortisation ofintangible assets				54,858	54,858
Net gains/losses on investments				282,680	(278,666)
Dividends, interest and rents	from investments			(61,203)	(77,806)
Other interest receivable and similar		income		(10)
Interest payable and similar	charges			60,738	48,614
Accrued (income)/expenses				(9,947)	2,369
Changes in:
Stock				50,542	8,629
Trade and other debtors				101,416	214,662
Trade and other creditors				(21,629)	46,785
Cash generated from operations				286,989	9,759
Interest paid				(60,738)	(48,614)
Interest received				10
Net cash from/(used in) operating		activities		226,261	(38,855)
Cash flows from investing	activities
Dividends, interest and rents	from investments			61,203	77,806
Purchase oftangible assets				(6,314)	(4,3I 3)
Purchases ofother investments				(1,658,810)	(107,475)
Proceeds Irom sale ofother	investments			1,585,716	219,423
Net cash (used in)/from investing		activities		(18,205)	185,441
Net increase in cash and cash equivalents				208,056	146,586
Cash and cash equivalents	at beginning ofyear			769,855	623,269
Cash and cash equivalents	at end	ofyear	27	977,911	769,855

1.	General information
	The charity is a public benefit entity and a private company limited by guarantee,		registered		in England
	and Wales and aregistered charity in England	and Wales. The address ofthe registered office is 10Albion
	Place, Maidstone, Kent, ME14 5DZ.
2.	Statement ofcompliance
	These Annual report and financial statements	have been prepared in compliance	with FRS		102,'The
	Financial Reporting Standard applicable in the UK and the Republic ofIreland',		the Statement of
	Recommended Practice applicable to charities	preparing their accounts in accordance with			the Financial
	Reporting Standard applicable in the UK and	Republic ofIreland (FRS 102)(Charities SORP (FRS 102))
	and the Companies Act 2006.
3.	Accounting policies
	Basis ofpreparation
	The Annual report and financial statements have been prepared on the historical		cost basis,		as modified by
	the revaluation ofcertain financial assets and	liabilities and investment properties	measured		at fair value
	through income or expenditure.
	The Annual report and financial statements are prepared in sterling, which is the		functional		currency ofthe
	entity.
	Consolidation
	The Charity has one wholly owned subsidiary	undertaking: BWBFDirect Limited which has been
	actively trading throughout the year and is incorporated in England and Wales.
	These accounts are consolidated in accordance	with section 9ofFRS10.A separate Statement
	ofFinancial Activities for the Charity itself is	not presented because the Charity has taken advantage ofthe
	exemption afforded by section 408 ofihe Companies Act 2006.However, the performance			ofthe charity is
	summarised in note 5to the accounts.

Accounting policies (conrtnued)
Financial instruments
A financial asset or a financial liability is recognised only when	the entity becomes a party to the
contractual provisions ofthe instrument.
Basic financial instruments are initially recognised at the amount	receivable	or paable including any related
transaction costs, unless the arrangement constitutes a financing	transaction,	where it is recognised	at	the
present value ofthe future payments discounted at a market rate	ofinterest	for a similar debt instrument,
Current assets and current liabilities are subsequently measured	at the cash	or other consideration	expected
to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares or preference shares are publicly traded or their fair value can otherwise				be
measured reliably, the investment is subsequently measured at fair value with changes in fair value
recognised in income and expenditure. All other such investments	are subsequently measured at cost			less
impairment.
Defined contribution plans
Contributions to defined contribution plans are recognised as an	expense in	the period in which the related
service is provided, Prepaid contributions are recognised as an asset to the extent that the prepayment				will
lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within	12months	ofthe end ofthe reporting		date
in which the employees render the related service, the liability is measured		on a discounted present	value
basis. The unwinding ofthe discount is recognised as an expense	in the period in which it arises.
Debtors
Debtors are initially recorded at fair value and are assessed for impairment		at each balance sheet date. If
any impairments exist the debtors are re-measured to the present	value ofthe expected future cash		inflows.
Creditors
Creditors are initially recorded at fair value and are then re-measured to the		present value ofthe expected
future cash outflows.

5.	Summary p	Summary p	erformance	erformance	erformance	ofcharity	ofcharity
	The summary		financial			performance ofthe Charity alone is:
									2022	2021
	Income								1,503,202	1,060,382
	Expenditure		on raising			funds			273,608	215,277
	Expenditure		on charitable				activities		1,141,100	1,163,844
	Net gains/(losses)			on investments					(282,680)	278, 666'
	Net Income/(expenditure)								(194,186)	(40,073)
	Total funds	brought			forward				4,291,889	4,331,962
	Total funds		carried		forward				4,097,703	4,291,$$9
	Repesented	by:
	Unrestricted		funds						3,981,127	4,146;526
	Restricted funds								116,576	145,363
									4,097,703	4,291,$$9
6.	Donations	and legacies
								Unrestricted	Restricted	Total Funds
								Funds	Funds	2022
	Donations
	Other public		donations					95,304		95,304
	Legacies
	Legacies receivable							1,210,044	903	1,210,947
	Grants
	Grants trom	trusts		and foundations				170	117,220	117390
								1,305,518	118,123	1,423,641
								Unrestricted	Restricted	Total Funds
								Funds	Funds	2021
	Donations
	Other public		donations					119,169	10,000	129,169
	Legacies
	Legacies receivable							656,564		656,564
	Grants
	Grants from	trusts and foundations						962	190,927	191,889
								776695	200927	977622

				Unrestricted	Total Funds	Unrestricted	Tota/ Funds
				Funds	2022	Funds	2021
Saleofequipment	and services			139,205	139,205	101,734	101,734
Rental income				13,664	13,664
Saleofchristmas cards				3,659	3,659	4,954	4,954
				156,528	156,528	106,688	106,688
Investment Income
				Unrestricted	Total Funds	Unrestricted	Total Funds
				Funds	2022	Funds	2021
Income from listed	investments			61,203	61,203	77,806	77,806
Interest on cash deposits				10	10
				61 213	61213	77 806	77806
Cost ofraising donations		and legacies
				Unrestricted	Restricted	Total Funds	Total Funds
				Funds	Funds	2022	2021
Donations and grants
Wages and salaries				132,165		132,165	91,307
Employers national	insurance			13,460		13,460	10,285
Pension costs				14,763		14,763	10,153
Private healthcare	insurance			3,708		3,708	3,348
Travel and subsistence				392		392	49
Legal, professional	and consultancy		fees	366		366	545
IT and communications				10,611		10,611	5,791
Printing, postage and stationery				29,049		29,049	27,284
Bank charges				1,014		1,014	1,033
Publicity and events				(846)		(846)	1,300
				204,682		204,682	151,095
Legacies
Wages and salaries				36,440		36,440	33,787
Employers national	insurance			3,972		3,972	3,492
				40,412		40,412	37,279
				245,094		245,094	188,374

					Unrestricted	Total Funds	Unrestricted	Total Funds
					Funds	2022	Funds	2021
Human resources							7,737	7,737
Publicity &events					150	150
Printing, postage and stationery					373	373	1,217	1,217
IT and communications					1,144	1,144	1,532	1,532
Bank charges					10,025	10,025	4,961	4,961
Legal, professional	and consultancy			fees	516	516	84	84
General expenses					97	97	25	25
Goods for resale					119,342	119,342	76,390	76,390
Insurance							45	45
Bad Debts					847	847
					132,494	132,494	91,991	91,991
Expenditure on charitable			activities by fund type
						Unrestricted	Restricted	Total Funds
						Funds	Funds	2022
Expenditure on charitable		activities				655,712	136,685	792,397
Support costs						352,003		352,003
						1,007,715	136,685	1,144,400
						Unrestricted	Restricted	Total Funds
						Funds	Funds	?021
Expenditure on charitable		activities				468,776	230,747	699,523
Support costs						467,621		467,621
						936,397	230,747	1,167,144

			Activities
			undertaken	Support	Total Funds	Total Funds
			directly	Costs	2022	2021
Expenditure	ofraising funds on donations,			107,934	107,934	146,351
grants and	legacies
Expenditure	on charitable	activities	792,397	228,102	1,020,499	1,006,153
Governance	costs			15,967	15,967	14,640
			792,397	352,003	1,144,400	1,16'7,144

					Raising	Raising	Raising	funds
					on	donations,			Expenditure
						grants and			on charitable	Governance	Total	Total
							legacies		activities	costs	2022	2021
	Staffcosts						13,408		28,492		41,900	186,207
	Premises						13,878		28,540		42,418	45,587
	Communications		and IT				15,949		33,890		49,839	44,762
	General office							2,901	6,865		9,766	8,653
	Finance costs							236	501		737	73
	Insurance							2,425	5,152	1,623	9,200	8,209
	Travel and subsistence							3,538	8,592		12,130	11,390
	Legal and professional			fees			17,722		36,895	2,044	56,661	47,913
	Depreciation						20,319		54,858		75,177	77,331
	Publicity and	events						4,370	9,021		13,391	11,293
	General expenses						13,188		15,296		28,484	13,903
	Audit fees									12,300	12,300	12,300
							107,934		228,102	15,967	352,003	467,621
14.	Net gains/losses		on investments
										Unrestricted	Restricted	Total Funds
										Funds	Funds	2022
	Gains/(losses)	on listed		investments						~272 455	~10225	~282 680
										Unrestricted	Restricted	Total Funds
										Funds	Funds	2021
	Gains/(losses)	on listed		investments						281 176	~2510	278 666
15.	Net expenditure
	Net expenditure		is stated atter charging/(crediting):
											2022	2021
	Amortisation	ofintangible assets									55,219	54,857
	Depreciation	oftangible		fixed assets							20054	22 474
16.	Auditors remuneration
											2022	2021
	Fees payable	for the audit ofthe			annual			report and financial statements			12300	12300
	Fees payable to		the charity's auditor				and its associates for other			services:
	Other non-audit		services								2,044	717

		2022	2021
Wages and salaries		575,471	542, i'98
Social security costs		61,049	87,139
Employer contributions	to pension plans	47,357	50,240
Other employee benefits		13,319	11,965
		697,196	691,542

Fundraising	and	publicity
Field
Management	and	administration
Support

2022	202j
No.	No.
13	13

20.	Intangible assets
	Group and charity			Development
				costs
	Cost
	At 1January 2022 and 31December 2022			274288
	Amortisation
	At l January 2022			179,106
	Charge for the year			54,858
	At 31December 2022			233,964
	Carrying amount
	At 31December 2022			40 324
	At 31December 2021			95182
21.	Tangible fixed assets
	Group and charity	Land and
		buildings	Equipment	Total
	Cost
	At 1 January 2022	1,015,336	211,931	1,227,267
	Additions		6,314	6,314
	At 31December 2022	1,015,336	218,245	1,233,581
	Depreciation
	At l January 2022	56,795	198,126	254,921
	Charge for the year	11,534	8,785	20,319
	At31December 2022	68,329	206,911	275,240
	Carrying amount
	At31December 2022	1083 665	11334	958341
	At 31December 2021	958541	13 805	972346

Investments
Group			Listed	Other
			Investments	Investments	Total
Cost or valuation
At 1 January 2022			3,132,491	70,557	3,203,048
Additions			1,658,810		1,658,810
Disposals			(1,585,716)		(1,585,716)
Fair value movements			(272,455)	(10,225)	(282,680)
At 31December 2022			2,933,130	60,332	2,993,462
Impairment
At 1January 2022 and 31December	2022
Carrying amount
At 31December 2022			2 933 130	60332	2 993462
At 31December 2021			3 132 491	70 557	3203 048
Charity	Shares	in group	Listed	Other
	undertakings		Investments	Investments	Total
Cost or valuation
At 1 January 2022			3,132,491	70,557	3,203,049
Additions			1,658,810		1,658,810
Disposals			(1,585,716)		(1,585,716)
Fair value movements			(272,455)	(10,225)	(282,680)
At 31December 2022			2,933,130	60,332	2,993,463
Impairment
At 1January 2022 and 31December 2022
Carrying amount
At 31December 2022		1	2933 130	60 332	2993463
At 31December 2021		1	3 132491	70557	3203 049
Listed investments
The figures above include the following	investments	which are more than 5%of		the total value ofthe portfolio:-
HSBC GIF Global Government				E260,849.23	8.88%
HSBC GIF Global Em Mkts Local				K246,459.92	8.39%
HSBCFTSEAll-World index Inst				f.203,361.90	6.92%
Within the closing market value oflisted investments		is K1,455,071(2021 - K1,703,953)that are invested
in markets outside ofthe UK.

23.	Investment		entities
	Subsidiaries		and other investments					Class of	Percentage of
								share		shares held
	Subsidiary		undertakings
	BWBFDirect Limited							Ordinary		100
	The results		for subsidiaries	and other undertakings	are as follows:
					Capital and reserves			Profit/(loss)	for	the year
					2022		2021	2022		2021
	Subsidiary undertakings BWBFDirect Limited				~13539 ~21		950	3 411		7913
24.	Stocks
								2022		2021
	Group
	Goods for resale							6,655		27,393
	Stock held	for permenent		free loan				26,336		56,140
								32,991		83,533
	Charity
	Stock held	for permenent		free loan				26336		56140
25.	Debtors
					Group			Charity
					2022	2021		2022		2021
						3f
	Trade debtors				19,030	56,828		4,341
	Amounts owed by group undertakings							291,150		216,025
	Prepayments		and accrued	income	43,804	31,486		43,804		31,486
	Other debtors				11,318	87,254		4,730		87,254
					74,152	175,568		344,025		334,765
26.	Investments
					Group			Charity
					2022	2021		2022		2021
	Short-term	deposits			9350	115377		9350		115377

Cash and c	ash equiva	lents comprise the following:
			Group		Charity
			2022	202 J1	2022	2021
Cash at bank and in hand			968,561	654,478	690,2S8	520,258
Short-term	deposits		9,350	115,377	9,350	115,377
			977,911	769,855	699,638	635.635
Creditors:	amounts	falling due within one year
			Group		Charity
			2022	2021	2022	2021
Bank loans	and overdraAs		850,000	850,000	850,000	850,000
Trade creditors			88,945	122,978	63,451	120,458
Accruals and deferred income			24,823	34,770	24,823	34,770
Other creditors			34,250	21,846	26,150
			998,018	1,029,594	964,424	1,005,228

Analysis of	Analysis of	Analysis of	charitab	le funds
Unrestricted			funds
								Gains and	At
Group			At	1 Jan 2022	Income	Expenditure	Transfers	losses	31Dec2022
General	funds			(21,951)	1,524,284	(1,413,817)	151,526	(272,455)	(32,413)
Designated			Funds	4,146,526			(151,526)		3,995,000
				4,124,575	1,524,284	(1,413,817)		(272,455)	3,962,587
								Gains and	At
Group			At	1 Jan 2021	Income	Expenditure	Transfers	losses	31Dec 2021
General	funds			(29,864)	961,189	(1,242,195)	7,743	281,176	(21,951)
Designated		Funds		4,151,503			(4,977)		4,146,526
				4 121639	961 189	~1242 195	2766	281 176	4 124575
								Gains and	At
Charity			At	1 Jan 2022	Income	Expenditure	Transfers	losses	31Dec 2022
General	funds				1,385,079	(1,278,023)	151,526	(272,455)	(13,873)
Designated		Funds		4,146,526			(151,526)		3,995,000
				4 146526	1 385079	~l 278 023		~272 455	3 981 127
								Gains and	At
Charity			At	1 Jan 2021	Income	Expenditure	Transfers	losses	31Dec 2021
General	funds				859,455	(1,148,374)	7,743	281,176
Digital	set			4,151,503			(4,977)		4,146,526
				4 151503	859455	~5148374	2766	281 176	4 146526

Group and charity	Group and charity				Gains and	At
	At 1Jan 2022	Income	Expenditure	Transfers	losses	31Dec2022
Reetricted iu 6	145363	118123	136685		~50 225	116576
					Gains and	At
	At I Jan 2021	Income	Expenditure	Transfers	losses	31Dec 2021
Restricted iu 6	180459	20D 927	~230747	~2766	~2510	145363

Group	Unrestricted	Restricted	Total funds	Unrestricted	Restricted	Totalfunds
	funds	funds	2022	funds	funds	2021
Fixed assets	3,931,795	60,332	3,992,127	4,200,019	70,557	4,270,576
Net current assets	30,792	56,244	87,036	(75,444)	74,806	(638)
	3,962,587	116,576	4,079,163	4,124,575	145,363	4,269,938
Charity	Unrestricted	Restricted	Total funds	Unrestricted	Restricted	Totalfunds
	funds	funds	2022	funds	funds	2021
			K	f,
Fixed assets	3,931,796	60,332	3,992,128	4,200,020	70,557	4,270,577
Net current assets	49,331	56,244	105,575	(53,494)	74,806	21,312
	3,981,127	116,576	4,097,703	4,146,526	145,363	4,291,889

	Group		At 1 Jan 2022	Cash flows	At 31Dec 2022
	Cash at bank		654,478	314,083	968,561
	Debt due		(850,000)		(850,000)
	Current asset		115,377	(106,027)	9,350
			(80,145)	208,056	127,911
	Charity		At 1 Jan 2022	Cash flows	At 31Dec 2022
	Cash at bank		520,258	170,030	690,288
	Debt due		(850,000)		(850,000)
	Current asset		115,377	(106,027)	9,350
			(214,365)	64,003	(150,362)
34.	Operating	lease commitments

The total future minimum	lease payments	leases are as follows:
Group and Charity		2022	2021
Not later than 1 year		14,601	3,446
Later than 1year and not	later than 5years	6,386
		20,987	3,446