2021-03-31-accounts

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Registered number: 03818652 Charity number: 1078504

Worthing Society for the Blind (A company limited by guarantee)

Unaudited

Trustees' report and financial statements For the year ended 31 March 2021

Worthing Society for the Blind

(A company limited by guarantee)

	Page
Reference and administrative details of the company, its Trustees and advisers	1
Trustees' report	2 - 7
Independent examiner's report	8
Statement of financial activities	9
Balance sheet	10
Notes to the financial statements	11 - 24

Worthing Society for the Blind

(A company limited by guarantee)

Reference and administrative details of the company, its Trustees and advisers For the year ended 31 March 2021

Trustees

Mr B Ward Mr N Clarke Mrs F Jacobs Mrs C C Ward Mrs D Darters Mr M Bloomfield (resigned 9 December 2020) Mrs D O'Donnell

Mr Brian Butcher (appointed 17 May 2021)

Company registered number

03818652

Charity registered number

1078504

Registered office

48 Rowlands Road Worthing West Sussex BN11 3JT

Accountants

Kreston Reeves LLP Chartered Accountants A2 Yeoman Gate Yeoman Way Worthing West Sussex BN13 3QZ

Page 1

Worthing Society for the Blind (A company limited by guarantee)

Trustees’ report For the year ended 31 March 2021

LEGAL AND ADMINISTRATIVE INFORMATION

Constitution

Sight Support Worthing is a company limited by guarantee and a registered charity governed by its memorandum and articles of association. Company Number 3818652; Charity Number 1078504.

The Directors of the charitable company are its Trustees for the purposes of charity law and throughout this report are collectively referred to as the Trustees.

New Trustees are recruited, interviewed and co-opted by the current Board of Trustees prior to a formal vote by members at an AGM.

In accordance with the Articles of Association there is a time limit for Trustees to serve at which point they may be nominated (by the Board or members) for re-election at an AGM.

Decision making is undertaken – and formally minuted – by Trustees at regular (currently monthly) Board meetings.

Trustees and Directors

The Trustees serving throughout the period of this report were:

Mr B Ward appointed July 2012 Mr N Clarke appointed November 2012 Mrs C Ward appointed July 2016 Mrs F Jacobs appointed July 2016 Mrs D Darters appointed December 2016 Mr M Bloomfield appointed August 2017 (resigned in December 2020) Mrs D O'Donnell appointed August 2019

Registered Office

48 Rowlands Road Worthing West Sussex BN11 3JT

Independent Examiners

Kreston Reeves A2 Yeoman Gate Yeoman Way Worthing West Sussex BN13 3QZ

Statutory Information

The Chairman and Trustees present their Annual Report and audited financial statements for the year to 31 March 2021.

The legal and administrative information forms part of this report. The financial statements comply with all current statutory requirements, including: the Society Memorandum and Articles of Association; Statement of Recommended Practice – Accounting and Reporting by charities (SORP 2005); Charity Commission Leaflets CC14 and CC19; and the Companies Act 2006.

Worthing Society for the Blind (A company limited by guarantee)

Trustees’ report For the year ended 31 March 2021

Objectives of the Charity

The prime objectives of the charity are to support the visually impaired in their daily lives, through:

a range of accessible social activities;
supporting and encouraging their use of available technology;
providing a welcoming and supportive response to any relevant questions raised from whatever source;
working with the local authorities and businesses to ensure that they take full account of the needs of the visually impaired;
encouraging and inspiring the visually impaired in every way possible.

To become a member an individual needs to have been diagnosed with an eye condition that cannot be corrected by the use of spectacles – and needs to be a resident living within the Worthing boundaries. However, we will provide advice and support to any one with a visual impairment wherever they live.

Sight Support Worthing – operating under a number of different names - is a registered charity that was first established in 1910.

Our Membership is at the heart of all that we do and with a dedicated team of staff and volunteers, the charity is able to meet its primary objective of offering a wide range of support and advice.

Financial Report

Financial Results

The financial statements confirm that the charity is financially sound.

The day-to-day costs of running the charity, supporting the members and maintaining the Centre in Rowlands Road result in a manageable – and monitored - “loss” which is, in normal circumstances, more than off-set by the growth in the charity’s investment portfolios (which are managed on the charity's behalf by Investec Wealth and Investment).

The value of the investment portfolios in this Account year have recovered the downfall experienced in the previous Account year (which was a direct result of the general impact across the world financial markets of the Covid-19 pandemic).

The charity's finances are therefore in a very positive position and are capable of sustaining the charity's future for years to come. In addition to the invested portfolios the charity owns the property (mortgage free) used as its Centre of activities. This puts the charity in a very strong financial position leaving it very capable of coping with even the abnormal Market trends.

The charity has incurred additional costs as a direct result of the Covid pandemic and the Government’s “lock down” which resulted in the Centre being closed to members for most of this Account year. Those additional costs relate to the business need to reduce our staffing levels (through redundancy) as a direct result of the enforced closure of the Centre.

The full details of the charity’s financial position for the year are set out in the main Accounts.

Investments and Reserves Policy

The Trustees' policy regarding the charity’s investments continues to seek a balance between investments to generate income for the immediate (on-going) needs and to provide funds for contingencies and capital projects.

Worthing Society for the Blind (A company limited by guarantee)

Trustees’ report For the year ended 31 March 2021

The investment portfolios are managed on behalf of the charity by Investec Wealth and Investment. The charity's Trustees receive regular reports from the Investec Investment Manager who normally attends at least one Board meeting during the year to give a personal report. No such meeting could take place in this Account year due to the Covid “lock down” but a regular dialogue was maintained by phone and email.

The Trustees are satisfied that Investec are providing a reliable and effective service.

At this stage, given that the Trustees have not made any financial commitments to future project expenditure, the Board is not designating any of the charity’s financial resources in the full Accounts.

Total funds at the balance sheet date were £3,402,205 (2020: £2,814,470). Of these, £541,923 (2020: £407,370) are held as endowment funds and £532,126 (2020: £540,078) are held as tangible fixed assets. This leaves free reserves of £2,328,156 (2020: £1,867,022). A further £2,246,712 (2020 - £1,813,250) of reserves is held as fixed asset investments.

The charity holds a significant proportion of the reserves as fixed asset investments. The dividend yield from the investments is used to fund day-to-day operating costs, and it is therefore essential that a significant investment portfolio is held. The Trustees review the reserves policy from time to time.

Trustees Responsibilities in Respect of Financial Statements

The Trustees (who are also Directors for the purposes of Company law) are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and UK Accounting Standards.

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the financial standing/performance of the charitable company and of the incoming resources and application of resources including the income and expenditure for the year. In preparing these statements the Trustees are required to:

Select suitable accounting policies and apply them consistently
Observe the methods and principles in the charities SORP
Make judgements that are reasonable and prudent
State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements
Prepare the financial statements on a ‘going concern’ basis unless it is inappropriate to assume the charity will continue in business

The Trustees are responsible for keeping adequate accounting records that disclose, with reasonable accuracy at any point in time, the financial position of the charity enabling them to ensure that the financial statements comply with the Companies Act 2006 and applicable law. The Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and any other irregularities.

Trustees Actions

To maintain the Trustees ability to monitor the charities financial performance throughout the year, the Trustees have continued their programme of monthly financial reports that provide a detailed summary of income and expenses. This enables a regular review to be undertaken by the Trustees whereby any unexpected fluctuations in the anticipated income or expenses can be readily identified and where necessary, specific actions can be instigated to address any matters of concern.

During the Covid “lock down” many of the Trustee monthly meetings were held on line, using Zoom technology.

Worthing Society for the Blind (A company limited by guarantee)

Trustees’ report For the year ended 31 March 2021

Benefits to Sight Support Worthing's Members

Given that the Centre has been closed for the entire Account year as a result of the Covid “lock down” – with staff working from home for most of that period – the level of support for members has been drastically changed during this period. The emphasis has been on maintaining telephone contact with all members to provide a level of social contact, advice and morale support during this period.

Board of Trustees Future Business Objectives and Initiatives

Business Objectives

The key priorities of the Board in this Account year have been totally driven by the impact of the Covid “lock down”.

Therefore the main objective has been to ensure that in spite of the restrictions, all members were contacted regularly (by phone) to provide a measure of social contact and support, where possible.

Nonetheless, in January 2021, the Trustees met to determine the charity’s Objectives and priorities once the Covid restrictions were lifted.

In summary, those Objectives are as follows:

Our Purpose

Improving social engagement for the visually impaired community through accessible activities, assistive resources and general support.

Our Mission

Our mission is to provide relevant, beneficial and inclusive activities and resources to the VI community while adapting as those needs evolve over time.

We will always aim to be a warm, welcoming Charity with a local vibe, who really get to know our members.

In addition we will work with others to bring about social change for the local VI community, and will do our best to support any visually impaired person who contacts SSW for assistance, regardless of their location.

Our Objectives

Improve our communications and how we interact with members (and guest members):
Make better use of telephone and email and keeping a history
Provide more face to face contact wherever possible
Update the format of the newsletter
Develop our Technology for VI service:
Keep up to date with assistive technology and other technical aids
Recruit and train staff and/or volunteers to be the ‘go to’ on VI tech issues
Develop a ‘Tech centre’ by ensuring Rowlands Road is equipped and resourced to provide training, tech support and guidance to members and guests
Provide a loan-to-buy service for those who are unable to access devices on their own

Worthing Society for the Blind (A company limited by guarantee)

Trustees’ report For the year ended 31 March 2021

Reinstate popular activities for existing members and plan new ones to reach new participants:
Provide activities for the over 30’s who outgrow young persons VI charity support locally
Adapt Centre opening hours around the activities when necessary
Develop a volunteer/member buddy befriending scheme, to match people by shared interests
Improve our volunteer ‘experience’ – update communication and induction processes
Dedicate resourcing to grow our volunteering capabilities
Develop and moderate a ‘peer support’ closed Facebook group for visually impaired people
Establish a fundraising strategy for financing new projects and promoting awareness
Partner or collaborate with other organisations and groups on relevant projects
Continue with efforts to market the Charity across a range of channels:
Paid advertorial in local newspaper
Become more influential in the Local authority planning activities and consultations which may impact the local VI community

Management Organisation and Infrastructure

Staff

The day-to-day responsibility of running the charity, providing the wide range of services to its members and ensuring the maintenance of the Centre in Rowlands Road is the responsibility of the staff who are funded by the charity.

Volunteers

The charity is hugely dependant on its volunteers who provide input across the majority of activities that are in place to support members. It would be impossible to sustain the current levels of service without their commitment and enthusiasm.

Board

The Board of Trustees is comprised solely of volunteers who give freely of their time and expertise. The Board normally meets formally on a monthly basis – however, during this Account year many of the Meetings have been held on-line (using Zoom technology) to comply with the Government Covid “lock down” regulations.

As at the end of this report period (31[st] March 2021) the Board is made up of six Trustees including one member of Sight Support Worthing.

Disclosure of Information to the Independent examiners

At the date of approval of this report, the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information that needs to be passed to the auditors and are not aware of any relevant audit information that has not been passed to the auditors. The Board has taken the decision to seek an “Independent Inspection” for this Year’s Accounts rather than a full Audit thus reducing the costs of producing the Accounts.

Worthing Society for the Blind (A company limited by guarantee)

Trustees’ report For the year ended 31 March 2021

Independent examiners

It is proposed that the Charity’s present auditors, Kreston Reeves be appointed as independent examiner’s to the Charity for the forthcoming year.

Approved by the order of the members of the board of Trustees on …………………….and signed on their behalf by :

……………………. Mrs D O’Donnell Trustee

Worthing Society for the Blind

(A company limited by guarantee)

Independent examiner's report

For the year ended 31 March 2021

Independent examiner's report to the Trustees of Worthing Society for the Blind ('the company')

I report to the charity Trustees on my examination of the accounts of the company for the year ended 31 March 2021.

Responsibilities and basis of report

As the Trustees of the company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
the accounts do not accord with those records; or
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

This report is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report.

Signed: Dated: Simon Webber Kreston Reeves LLP Chartered Accountants Chichester

BA (Hons), DchA, FCA

Page 8

Worthing Society for the Blind

(A company limited by guarantee)

Statement of financial activities (incorporating income and expenditure account) For the year ended 31 March 2021

Note Income and endowments from: Donations and legacies 2 Charitable activities 3 Other trading activities 4 Investments 5 Total income and endowments Expenditure on: Raising funds 6 Charitable activities Total expenditure Net (expenditure)/income before net gains/(losses) on investments Net gains/(losses) on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward	Unrestricted funds 2021 £ 28,867 480 1,267 73,988 104,602 8,191 190,937 199,128 (94,526) 547,708 453,182 2,407,100 453,182 2,860,282	Endowment funds 2021 £ - - - 9,486 9,486 1,736 - 1,736 7,750 126,803 134,553 407,370 134,553 541,923	Total funds 2021 £ 28,867 480 1,267 83,474 114,088 9,927 190,937 200,864 (86,776) 674,511 587,735 2,814,470 587,735 3,402,205	Total funds 2020 £ 4,076 7,566 5,680 104,588
				121,910 10,144 209,115
				219,259 (97,349) (426,537)
				(523,886) 3,338,356 (523,886)
				2,814,470

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 11 to 24 form part of these financial statements.

Page 9

Worthing Society for the Blind (A company limited by guarantee) Registered number: 03818652

Balance sheet As at 31 March 2021

Note Fixed assets Tangible assets 11 Investments 12 Current assets Stocks Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total net assets Charity funds Endowment funds 15 Restricted funds 15 Unrestricted funds 15 Total funds	413 16,534 81,327 98,274 (7,033)	2021 £ 532,126 2,778,838 3,310,964 91,241 3,402,205 541,923 - 2,860,282 3,402,205	413 16,506 42,606 59,525 (5,753)	2020 £ 540,078 2,220,620
				2,760,698 53,772

				2,814,470
				407,370 - 2,407,100

				2,814,470

The company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

................................................

Mrs D O'Donnell

Date:

The notes on pages 11 to 24 form part of these financial statements.

Page 10

Worthing Society for the Blind (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Worthing Society for the Blind meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

1.2 Company status

The company is a private company, limited by guarantee, incorporated in England & Wales. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £10 per member of the company.

1.3 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Whilst the impact of the COVID-19 pandemic has been assessed by the trustees, so far as is reasonably possible, due to its unprecedented impact on the worldwide economy it is difficult to evaluate with any certainty the potential outcomes on the charity's future activities. However, taking into consideration the charity's level of reserves, the trustees believe that the charity will be able to continue in operational existence for the foreseeable future.

1.4 Income

All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

For legacies, entitlement is taken as the earlier of the date on which either: the company is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the company has been notified of the executor's intention to make a distribution. Where legacies have been notified to the company, or the company is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

Page 11

Worthing Society for the Blind (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

1. Accounting policies (continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity.

Support costs are those costs incurred directly in support of expenditure on the objects of the company and include general overheads of the day centre (which includes the head once). Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Charitable activities and Governance costs are costs incurred on the company's operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.

1.6 Government grants

Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the Statement of financial activities as the related expenditure is incurred.

1.7 Tangible fixed assets and depreciation

Tangible fixed assets costing £1000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities incorporating income and expenditure account.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives an the following bases:

Freehold property 75 years straight line Motor vehicles - 25% straight line - Fixtures and fittings 25% straight line

1.8 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.

Page 12

Worthing Society for the Blind

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

1. Accounting policies (continued)

1.9 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank.

1.10 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

1.11 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.12 Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.13 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation

1.14 Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.15 Pensions

The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

Page 13

Worthing Society for the Blind (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

1. Accounting policies (continued)

1.16 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

he endowment fund was set up with the purpose of the income to be used for the day to day running costs of the charity.

Investment income, gains and losses are allocated to the appropriate fund.

2. Income from donations and legacies

Donations Legacies Grants Government grants Donations Grants	Unrestricted funds 2021 £ 3,833 23,000 676 1,358 28,867 Unrestricted funds 2020 £ 3,415 661 4,076	Total funds 2021 £ 3,833 23,000 676 1,358
		28,867
		Total funds 2020 £ 3,415 661
		4,076

3. Income from charitable activities

	Unrestricted	Total
	funds	funds
	2021	2021
	£	£
Costs recovered	480	480

Page 14

Worthing Society for the Blind (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

3. Income from charitable activities (continued)

	Unrestricted	Total
	funds	funds
	2020	2020
	£	£
Costs recovered	7,566	7,566

4. Income from other trading activities Income from fundraising events

Unrestricted funds 2021 £ Fundraising income 919 Unrestricted funds 2020 £ Fundraising income 2,424 Income from non charitable trading activities Unrestricted funds 2021 £ Resource room sales 348 Unrestricted funds 2020 £ Resource room sales 3,256	Total funds 2021 £ 919
	Total funds 2020 £ 2,424
	Total funds 2021 £ 348
	Total funds 2020 £ 3,256

Page 15

Worthing Society for the Blind (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

5. Investment income

Rental income Listed investment Interest receivable Rental income Listed investments Interest receivable	Unrestricted funds 2021 £ 1,275 72,703 10 73,988 Unrestricted funds 2020 £ 2,430 89,817 53 92,300	Endowment funds 2021 £ - 9,486 - 9,486 Endowment funds 2020 £ - 12,288 - 12,288	Total funds 2021 £ 1,275 82,189 10
			83,474
			Total funds 2020 £ 2,430 102,105 53
			104,588

6. Investment management costs

Unrestricted funds 2021 £ Investment management fees 8,191 Unrestricted funds 2020 £ Investment management fees 8,487	Endowment funds 2021 £ 1,736 Endowment funds 2020 £ 1,657	Total funds 2021 £ 9,927
		Total funds 2020 £ 10,144

Page 16

Worthing Society for the Blind (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

7. Analysis of expenditure by activities

Day Centre Rowlands Road Day Centre Rowlands Road	Activities undertaken directly 2021 £ 154,011 7,773 161,784 Activities undertaken directly 2020 £ 148,263 11,223 159,486	Support costs 2021 £ 29,153 - 29,153 Support costs 2020 £ 49,629 - 49,629	Total funds 2021 £ 183,164 7,773
			190,937
			Total funds 2020 £ 197,892 11,223
			209,115

Page 17

Worthing Society for the Blind (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

7. Analysis of expenditure by activities (continued)

Analysis of direct costs

Staff costs Activities Insurance Gardening Light and heat Rates Cleaning Repairs and maintenance Accounting fees Postage, printing, stationery and telephone Other expenses Staff costs Activities Insurance Gardening Light and heat Rates Cleaning Repairs and maintenance Accounting fees Postage, printing, stationary and telephone Other expenses	Day Centre 2021 £ 119,940 11,307 2,040 - - - - 2,440 4,543 5,825 7,916 154,011 Day Centre 2020 £ 95,877 23,043 516 - - - - 3,879 6,860 5,794 12,294 148,263	Rowlands Road 2021 £ - - - 1,456 2,539 473 3,305 - - - - 7,773 Rowlands Road 2020 £ - - - 3,650 3,281 683 3,570 - - - 39 11,223	Total funds 2021 £ 119,940 11,307 2,040 1,456 2,539 473 3,305 2,440 4,543 5,825 7,916
			161,784
			Total funds 2020 £ 95,877 23,043 516 3,650 3,281 683 3,570 3,879 6,860 5,794 12,333
			159,486

Page 18

Worthing Society for the Blind (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

7. Analysis of expenditure by activities (continued)

Analysis of support costs

Depreciation Repairs and maintenance Other expenses Advertising Computer costs Governance costs Depreciation Activities Repairs and maintenance Other expenses Advertising Computer costs Governance costs	Day Centre 2021 £ 11,952 3,985 1,219 8,496 981 2,520 29,153 Day Centre 2020 £ 23,018 78 7,948 615 15,025 425 2,520 49,629	Total funds 2021 £ 11,952 3,985 1,219 8,496 981 2,520
		29,153
		Total funds 2020 £ 23,018 78 7,948 615 15,025 425 2,520
		49,629

8. Independent examiner's remuneration

The independent examiner's remuneration amounts to an independent examiner fee of £2,520 (2020 - £2,520).

Page 19

Worthing Society for the Blind (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

9. Staff costs

Wages and salaries Social security costs Contribution to defined contribution pension schemes	2021 £ 112,473 5,635 1,832 119,940	2020 £ 90,932 3,256 1,689

		95,877

During the year £22,000 was paid out as redundancy payments to two staff members. Both staff members received a single payment upon their redundancy.

The average number of persons employed by the company during the year was as follows:

	2021	2020
	No.	No.
Total	7	7

No employee received remuneration amounting to more than £60,000 in either year.

10. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2020 - £NIL).

During the year ended 31 March 2021, no Trustee expenses have been incurred (2020 - £NIL).

Page 20

Worthing Society for the Blind (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

11. Tangible fixed assets

Cost or valuation At 1 April 2020 Additions At 31 March 2021 Depreciation At 1 April 2020 Charge for the year At 31 March 2021 Net book value At 31 March 2021 At 31 March 2020	Freehold property £ 567,528 - 567,528 40,855 4,540 45,395 522,133 526,673	Motor vehicles £ 92,218 - 92,218 81,418 6,455 87,873 4,345 10,800	Fixtures and fittings £ 27,417 4,000 31,417 24,812 957 25,769 5,648 2,605	Total £ 687,163 4,000
				691,163
				147,085 11,952
				159,037
				532,126 540,078

12. Fixed asset investments

Cost or valuation At 1 April 2020 Additions Disposals Revaluations At 31 March 2021 Net book value At 31 March 2021 At 31 March 2020	Listed investments £ 2,220,620 130,446 (246,739) 674,511
	2,778,838 2,778,838
	2,220,620

Page 21

Worthing Society for the Blind

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

13. Debtors

Due within one year Prepayments and accrued income	2021 £ 16,534 16,534	2020 £ 16,506

		16,506

14. Creditors: Amounts falling due within one year

Trade creditors Other taxation and social security Accruals and deferred income	2021 £ 2,081 1,272 3,680 7,033	2020 £ 798 2,383 2,572

		5,753

Page 22

Worthing Society for the Blind (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

15. Statement of funds

Statement of funds - current year

Unrestricted funds General Funds Endowment funds Endowment Fund Total of funds	Balance at 1 April 2020 £ 2,407,100 407,370 2,814,470	Income £ 104,602 9,486 114,088	Expenditure £ (199,128) (1,736) (200,864)	Gains/ (Losses) £ 547,708 126,803 674,511	Balance at 31 March 2021 £ 2,860,282
					541,923
					3,402,205

The endowment fund was previously set up on receipt of £350,000 from the Brighton and Worthing Charitable Trust for the Elderly. The income from the fund will be used to off-set the Society's day to day running costs as specified by the Society as part of the Trust winding up agreement.

Statement of funds - prior year

Unrestricted funds General Funds Endowment funds Endowment Fund Total of funds	Balance at 1 April 2019 £ 2,881,984 456,372 3,338,356	Income £ 109,622 12,288 12,288	Expenditure £ (217,602) (1,657) (219,259)	Gains/ (Losses) £ (366,904) (59,633) (426,537)	Balance at 31 March 2020 £ 2,407,100
					407,370
					2,814,470

Page 23

Worthing Society for the Blind (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

16. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Total	Unrestricted funds 2021 £ 532,126 2,778,838 (443,649) (7,033) 2,860,282	Endowment funds 2021 £ - - 541,923 - 541,923	Total funds 2021 £ 532,126 2,778,838 98,274 (7,033)
			3,402,205

Analysis of net assets between funds - prior year

Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Total	Unrestricted funds 2020 £ 540,078 1,813,250 59,525 (5,753) 2,407,100	Endowment funds 2020 £ - 407,370 - - 407,370	Total funds 2020 £ 540,078 2,220,620 59,525 (5,753)
			2,814,470

17. Related party transactions

There were no related party transactions in the year that require disclosure under SORP 2019 (FRS 102).

18. Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £1,832 (2020 - £1,689). Contributions totalling £357 (2019 - £203) were payable to the fund at the balance sheet date and are included in creditors.

Page 24

Registered number: 03818652 Charity number: 1078504

Worthing Society for the Blind (A company limited by guarantee)

Unaudited

Trustees' report and financial statements For the year ended 31 March 2021

Worthing Society for the Blind

(A company limited by guarantee)

	Page
Reference and administrative details of the company, its Trustees and advisers	1
Trustees' report	2 - 7
Independent examiner's report	8
Statement of financial activities	9
Balance sheet	10
Notes to the financial statements	11 - 24

Worthing Society for the Blind

(A company limited by guarantee)

Reference and administrative details of the company, its Trustees and advisers For the year ended 31 March 2021

Trustees

Mr B Ward Mr N Clarke Mrs F Jacobs Mrs C C Ward Mrs D Darters Mr M Bloomfield (resigned 9 December 2020) Mrs D O'Donnell

Mr Brian Butcher (appointed 17 May 2021)

Company registered number

03818652

Charity registered number

1078504

Registered office

48 Rowlands Road Worthing West Sussex BN11 3JT

Accountants

Kreston Reeves LLP Chartered Accountants A2 Yeoman Gate Yeoman Way Worthing West Sussex BN13 3QZ

Page 1

Worthing Society for the Blind (A company limited by guarantee)

Trustees’ report For the year ended 31 March 2021

LEGAL AND ADMINISTRATIVE INFORMATION

Constitution

Sight Support Worthing is a company limited by guarantee and a registered charity governed by its memorandum and articles of association. Company Number 3818652; Charity Number 1078504.

The Directors of the charitable company are its Trustees for the purposes of charity law and throughout this report are collectively referred to as the Trustees.

New Trustees are recruited, interviewed and co-opted by the current Board of Trustees prior to a formal vote by members at an AGM.

In accordance with the Articles of Association there is a time limit for Trustees to serve at which point they may be nominated (by the Board or members) for re-election at an AGM.

Decision making is undertaken – and formally minuted – by Trustees at regular (currently monthly) Board meetings.

Trustees and Directors

The Trustees serving throughout the period of this report were:

Registered Office

48 Rowlands Road Worthing West Sussex BN11 3JT

Independent Examiners

Kreston Reeves A2 Yeoman Gate Yeoman Way Worthing West Sussex BN13 3QZ

Statutory Information

The Chairman and Trustees present their Annual Report and audited financial statements for the year to 31 March 2021.

Worthing Society for the Blind (A company limited by guarantee)

Trustees’ report For the year ended 31 March 2021

Objectives of the Charity

The prime objectives of the charity are to support the visually impaired in their daily lives, through:

a range of accessible social activities;
supporting and encouraging their use of available technology;
providing a welcoming and supportive response to any relevant questions raised from whatever source;
working with the local authorities and businesses to ensure that they take full account of the needs of the visually impaired;
encouraging and inspiring the visually impaired in every way possible.

Sight Support Worthing – operating under a number of different names - is a registered charity that was first established in 1910.

Our Membership is at the heart of all that we do and with a dedicated team of staff and volunteers, the charity is able to meet its primary objective of offering a wide range of support and advice.

Financial Report

Financial Results

The financial statements confirm that the charity is financially sound.

The full details of the charity’s financial position for the year are set out in the main Accounts.

Investments and Reserves Policy

Worthing Society for the Blind (A company limited by guarantee)

Trustees’ report For the year ended 31 March 2021

The Trustees are satisfied that Investec are providing a reliable and effective service.

Trustees Responsibilities in Respect of Financial Statements

Select suitable accounting policies and apply them consistently
Observe the methods and principles in the charities SORP
Make judgements that are reasonable and prudent
State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements
Prepare the financial statements on a ‘going concern’ basis unless it is inappropriate to assume the charity will continue in business

Trustees Actions

During the Covid “lock down” many of the Trustee monthly meetings were held on line, using Zoom technology.

Worthing Society for the Blind (A company limited by guarantee)

Trustees’ report For the year ended 31 March 2021

Benefits to Sight Support Worthing's Members

Board of Trustees Future Business Objectives and Initiatives

Business Objectives

The key priorities of the Board in this Account year have been totally driven by the impact of the Covid “lock down”.

Therefore the main objective has been to ensure that in spite of the restrictions, all members were contacted regularly (by phone) to provide a measure of social contact and support, where possible.

Nonetheless, in January 2021, the Trustees met to determine the charity’s Objectives and priorities once the Covid restrictions were lifted.

In summary, those Objectives are as follows:

Our Purpose

Improving social engagement for the visually impaired community through accessible activities, assistive resources and general support.

Our Mission

Our mission is to provide relevant, beneficial and inclusive activities and resources to the VI community while adapting as those needs evolve over time.

We will always aim to be a warm, welcoming Charity with a local vibe, who really get to know our members.

Our Objectives

Improve our communications and how we interact with members (and guest members):
Make better use of telephone and email and keeping a history
Provide more face to face contact wherever possible
Update the format of the newsletter
Develop our Technology for VI service:
Keep up to date with assistive technology and other technical aids
Recruit and train staff and/or volunteers to be the ‘go to’ on VI tech issues
Develop a ‘Tech centre’ by ensuring Rowlands Road is equipped and resourced to provide training, tech support and guidance to members and guests
Provide a loan-to-buy service for those who are unable to access devices on their own

Worthing Society for the Blind (A company limited by guarantee)

Trustees’ report For the year ended 31 March 2021

Reinstate popular activities for existing members and plan new ones to reach new participants:
Provide activities for the over 30’s who outgrow young persons VI charity support locally
Adapt Centre opening hours around the activities when necessary
Develop a volunteer/member buddy befriending scheme, to match people by shared interests
Improve our volunteer ‘experience’ – update communication and induction processes
Dedicate resourcing to grow our volunteering capabilities
Develop and moderate a ‘peer support’ closed Facebook group for visually impaired people
Establish a fundraising strategy for financing new projects and promoting awareness
Partner or collaborate with other organisations and groups on relevant projects
Continue with efforts to market the Charity across a range of channels:
Paid advertorial in local newspaper
Become more influential in the Local authority planning activities and consultations which may impact the local VI community

Management Organisation and Infrastructure

Staff

Volunteers

Board

As at the end of this report period (31[st] March 2021) the Board is made up of six Trustees including one member of Sight Support Worthing.

Disclosure of Information to the Independent examiners

Worthing Society for the Blind (A company limited by guarantee)

Trustees’ report For the year ended 31 March 2021

Independent examiners

It is proposed that the Charity’s present auditors, Kreston Reeves be appointed as independent examiner’s to the Charity for the forthcoming year.

Approved by the order of the members of the board of Trustees on …………………….and signed on their behalf by :

……………………. Mrs D O’Donnell Trustee

Worthing Society for the Blind

(A company limited by guarantee)

Independent examiner's report

For the year ended 31 March 2021

Independent examiner's report to the Trustees of Worthing Society for the Blind ('the company')

I report to the charity Trustees on my examination of the accounts of the company for the year ended 31 March 2021.

Responsibilities and basis of report

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
the accounts do not accord with those records; or
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

Signed: Dated: Simon Webber Kreston Reeves LLP Chartered Accountants Chichester

BA (Hons), DchA, FCA

Page 8

Worthing Society for the Blind

(A company limited by guarantee)

Statement of financial activities (incorporating income and expenditure account) For the year ended 31 March 2021

Note Income and endowments from: Donations and legacies 2 Charitable activities 3 Other trading activities 4 Investments 5 Total income and endowments Expenditure on: Raising funds 6 Charitable activities Total expenditure Net (expenditure)/income before net gains/(losses) on investments Net gains/(losses) on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward	Unrestricted funds 2021 £ 28,867 480 1,267 73,988 104,602 8,191 190,937 199,128 (94,526) 547,708 453,182 2,407,100 453,182 2,860,282	Endowment funds 2021 £ - - - 9,486 9,486 1,736 - 1,736 7,750 126,803 134,553 407,370 134,553 541,923	Total funds 2021 £ 28,867 480 1,267 83,474 114,088 9,927 190,937 200,864 (86,776) 674,511 587,735 2,814,470 587,735 3,402,205	Total funds 2020 £ 4,076 7,566 5,680 104,588
				121,910 10,144 209,115
				219,259 (97,349) (426,537)
				(523,886) 3,338,356 (523,886)
				2,814,470

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 11 to 24 form part of these financial statements.

Page 9

Worthing Society for the Blind (A company limited by guarantee) Registered number: 03818652

Balance sheet As at 31 March 2021

Note Fixed assets Tangible assets 11 Investments 12 Current assets Stocks Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total net assets Charity funds Endowment funds 15 Restricted funds 15 Unrestricted funds 15 Total funds	413 16,534 81,327 98,274 (7,033)	2021 £ 532,126 2,778,838 3,310,964 91,241 3,402,205 541,923 - 2,860,282 3,402,205	413 16,506 42,606 59,525 (5,753)	2020 £ 540,078 2,220,620
				2,760,698 53,772

				2,814,470
				407,370 - 2,407,100

				2,814,470

The company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

................................................

Mrs D O'Donnell

Date:

The notes on pages 11 to 24 form part of these financial statements.

Page 10

Worthing Society for the Blind (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

1. Accounting policies

1.1 Basis of preparation of financial statements

1.2 Company status

1.3 Going concern

1.4 Income

All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

Page 11

Worthing Society for the Blind (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

1. Accounting policies (continued)

1.5 Expenditure

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

1.6 Government grants

1.7 Tangible fixed assets and depreciation

Tangible fixed assets costing £1000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Freehold property 75 years straight line Motor vehicles - 25% straight line - Fixtures and fittings 25% straight line

1.8 Investments

Page 12

Worthing Society for the Blind

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

1. Accounting policies (continued)

1.9 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank.

1.10 Stocks

1.11 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.12 Cash at bank and in hand

1.13 Liabilities and provisions

1.14 Financial instruments

1.15 Pensions

The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

Page 13

Worthing Society for the Blind (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

1. Accounting policies (continued)

1.16 Fund accounting

he endowment fund was set up with the purpose of the income to be used for the day to day running costs of the charity.

Investment income, gains and losses are allocated to the appropriate fund.

2. Income from donations and legacies

Donations Legacies Grants Government grants Donations Grants	Unrestricted funds 2021 £ 3,833 23,000 676 1,358 28,867 Unrestricted funds 2020 £ 3,415 661 4,076	Total funds 2021 £ 3,833 23,000 676 1,358
		28,867
		Total funds 2020 £ 3,415 661
		4,076

3. Income from charitable activities

	Unrestricted	Total
	funds	funds
	2021	2021
	£	£
Costs recovered	480	480

Page 14

Worthing Society for the Blind (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

3. Income from charitable activities (continued)

	Unrestricted	Total
	funds	funds
	2020	2020
	£	£
Costs recovered	7,566	7,566

4. Income from other trading activities Income from fundraising events

Unrestricted funds 2021 £ Fundraising income 919 Unrestricted funds 2020 £ Fundraising income 2,424 Income from non charitable trading activities Unrestricted funds 2021 £ Resource room sales 348 Unrestricted funds 2020 £ Resource room sales 3,256	Total funds 2021 £ 919
	Total funds 2020 £ 2,424
	Total funds 2021 £ 348
	Total funds 2020 £ 3,256

Page 15

Worthing Society for the Blind (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

5. Investment income

Rental income Listed investment Interest receivable Rental income Listed investments Interest receivable	Unrestricted funds 2021 £ 1,275 72,703 10 73,988 Unrestricted funds 2020 £ 2,430 89,817 53 92,300	Endowment funds 2021 £ - 9,486 - 9,486 Endowment funds 2020 £ - 12,288 - 12,288	Total funds 2021 £ 1,275 82,189 10
			83,474
			Total funds 2020 £ 2,430 102,105 53
			104,588

6. Investment management costs

Unrestricted funds 2021 £ Investment management fees 8,191 Unrestricted funds 2020 £ Investment management fees 8,487	Endowment funds 2021 £ 1,736 Endowment funds 2020 £ 1,657	Total funds 2021 £ 9,927
		Total funds 2020 £ 10,144

Page 16

Worthing Society for the Blind (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

7. Analysis of expenditure by activities

Day Centre Rowlands Road Day Centre Rowlands Road	Activities undertaken directly 2021 £ 154,011 7,773 161,784 Activities undertaken directly 2020 £ 148,263 11,223 159,486	Support costs 2021 £ 29,153 - 29,153 Support costs 2020 £ 49,629 - 49,629	Total funds 2021 £ 183,164 7,773
			190,937
			Total funds 2020 £ 197,892 11,223
			209,115

Page 17

Worthing Society for the Blind (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

7. Analysis of expenditure by activities (continued)

Analysis of direct costs

Staff costs Activities Insurance Gardening Light and heat Rates Cleaning Repairs and maintenance Accounting fees Postage, printing, stationery and telephone Other expenses Staff costs Activities Insurance Gardening Light and heat Rates Cleaning Repairs and maintenance Accounting fees Postage, printing, stationary and telephone Other expenses	Day Centre 2021 £ 119,940 11,307 2,040 - - - - 2,440 4,543 5,825 7,916 154,011 Day Centre 2020 £ 95,877 23,043 516 - - - - 3,879 6,860 5,794 12,294 148,263	Rowlands Road 2021 £ - - - 1,456 2,539 473 3,305 - - - - 7,773 Rowlands Road 2020 £ - - - 3,650 3,281 683 3,570 - - - 39 11,223	Total funds 2021 £ 119,940 11,307 2,040 1,456 2,539 473 3,305 2,440 4,543 5,825 7,916
			161,784
			Total funds 2020 £ 95,877 23,043 516 3,650 3,281 683 3,570 3,879 6,860 5,794 12,333
			159,486

Page 18

Worthing Society for the Blind (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

7. Analysis of expenditure by activities (continued)

Analysis of support costs

Depreciation Repairs and maintenance Other expenses Advertising Computer costs Governance costs Depreciation Activities Repairs and maintenance Other expenses Advertising Computer costs Governance costs	Day Centre 2021 £ 11,952 3,985 1,219 8,496 981 2,520 29,153 Day Centre 2020 £ 23,018 78 7,948 615 15,025 425 2,520 49,629	Total funds 2021 £ 11,952 3,985 1,219 8,496 981 2,520
		29,153
		Total funds 2020 £ 23,018 78 7,948 615 15,025 425 2,520
		49,629

8. Independent examiner's remuneration

The independent examiner's remuneration amounts to an independent examiner fee of £2,520 (2020 - £2,520).

Page 19

Worthing Society for the Blind (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

9. Staff costs

Wages and salaries Social security costs Contribution to defined contribution pension schemes	2021 £ 112,473 5,635 1,832 119,940	2020 £ 90,932 3,256 1,689

		95,877

During the year £22,000 was paid out as redundancy payments to two staff members. Both staff members received a single payment upon their redundancy.

The average number of persons employed by the company during the year was as follows:

	2021	2020
	No.	No.
Total	7	7

No employee received remuneration amounting to more than £60,000 in either year.

10. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2020 - £NIL).

During the year ended 31 March 2021, no Trustee expenses have been incurred (2020 - £NIL).

Page 20

Worthing Society for the Blind (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

11. Tangible fixed assets

Cost or valuation At 1 April 2020 Additions At 31 March 2021 Depreciation At 1 April 2020 Charge for the year At 31 March 2021 Net book value At 31 March 2021 At 31 March 2020	Freehold property £ 567,528 - 567,528 40,855 4,540 45,395 522,133 526,673	Motor vehicles £ 92,218 - 92,218 81,418 6,455 87,873 4,345 10,800	Fixtures and fittings £ 27,417 4,000 31,417 24,812 957 25,769 5,648 2,605	Total £ 687,163 4,000
				691,163
				147,085 11,952
				159,037
				532,126 540,078

12. Fixed asset investments

Cost or valuation At 1 April 2020 Additions Disposals Revaluations At 31 March 2021 Net book value At 31 March 2021 At 31 March 2020	Listed investments £ 2,220,620 130,446 (246,739) 674,511
	2,778,838 2,778,838
	2,220,620

Page 21

Worthing Society for the Blind

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

13. Debtors

Due within one year Prepayments and accrued income	2021 £ 16,534 16,534	2020 £ 16,506

		16,506

14. Creditors: Amounts falling due within one year

Trade creditors Other taxation and social security Accruals and deferred income	2021 £ 2,081 1,272 3,680 7,033	2020 £ 798 2,383 2,572

		5,753

Page 22

Worthing Society for the Blind (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

15. Statement of funds

Statement of funds - current year

Unrestricted funds General Funds Endowment funds Endowment Fund Total of funds	Balance at 1 April 2020 £ 2,407,100 407,370 2,814,470	Income £ 104,602 9,486 114,088	Expenditure £ (199,128) (1,736) (200,864)	Gains/ (Losses) £ 547,708 126,803 674,511	Balance at 31 March 2021 £ 2,860,282
					541,923
					3,402,205

Statement of funds - prior year

Unrestricted funds General Funds Endowment funds Endowment Fund Total of funds	Balance at 1 April 2019 £ 2,881,984 456,372 3,338,356	Income £ 109,622 12,288 12,288	Expenditure £ (217,602) (1,657) (219,259)	Gains/ (Losses) £ (366,904) (59,633) (426,537)	Balance at 31 March 2020 £ 2,407,100
					407,370
					2,814,470

Page 23

Worthing Society for the Blind (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2021

16. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Total	Unrestricted funds 2021 £ 532,126 2,778,838 (443,649) (7,033) 2,860,282	Endowment funds 2021 £ - - 541,923 - 541,923	Total funds 2021 £ 532,126 2,778,838 98,274 (7,033)
			3,402,205

Analysis of net assets between funds - prior year

Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Total	Unrestricted funds 2020 £ 540,078 1,813,250 59,525 (5,753) 2,407,100	Endowment funds 2020 £ - 407,370 - - 407,370	Total funds 2020 £ 540,078 2,220,620 59,525 (5,753)
			2,814,470

17. Related party transactions

There were no related party transactions in the year that require disclosure under SORP 2019 (FRS 102).

18. Pension commitments

Page 24

Worthing Society for the Blind 1078504 48 Rowlands Road Worthing BN11 3JT Kre51on Reeves LLP Chartered Accounlanls A2 Yeoman Gale Yeoman Way Worthing West Sussex BN13 3QZ Dear Sirs This letter is fumished at your r&quesl in connection with your independent examination of the financial statements of the charity for the period ended 31 March 2021 for the purposes enabling you lo issue your report lo the Iruslees required by the Charities Act 2011 in SpeCt of the charrty's accounting records and preparation of the financial stalemenls. We recognise that our represenlations concerning the matters referred lo below are significant in enabling you to issue your independent examiner's report. In particular, we havè carefully considered the Impact of the COVID-19 pandemic and the UK'S exrt from the European Union I'Brexil'l, on the charity's business and its financial slalemenls. We have fulfilled our responsibilities as Iruslees of the ¢harty, as sel out in your lerrns of engagement dated 4 August 2021, under the Charities Act 2011 for preparing financial 51atemenls in accordance with lh& applicable law and United Kingdorll Generally Accepted Accounting Practice, which give a true and fair view of the financial position of the charity as of the period end and of the results of operations for the period then ended and for making accurate representations lo you. The financial statements have been prepared in accordance with the Charities Act 2011 and the provisions of the Trust Deod, and in accordance with United Kingdorn Generally Accepted Accounting Practice, including Accounting Reporting by Charifies.. The Slalemenl of Recommended PraGlice applicable lo charities preparing Iheiraccounls In accordance with the Financial Reporting Standard applicable the UK 8nd Repiiblic of Ireland IFRS102) I'the SORP"), including all subsequent Update Bulletins issued that apply to the period under review Audlt exemption We confirm that the charity is enlilled lo the exemptions from an audit of the financial statements as set out in the Charities Act 2011 in thal".- The incorning resources of the charity did not exce8d £1 million.. or The incoming resources ol the charity did not exceed £250,000 and the charity's gross assets did not exceed £3.28million", or The incoming resources ol the charity and ils group did not excèed £1 million, after eliminating intra group transactions and consolidation adjuslmenls., and An audit ol the financial statements is not required by the charity's governing documents.

Fraud We acknowledge our responsibility for the design, implemenlalion and maintenance of a system of internal control in order lo prevent and detect fraud. Wè have assessed the risk that the financial statements may be Material misslaled as a result of fraud and it is OLJr opinion that any such risk is minimal. We are not aware of any irregularities involving management or employees who have a significant role with regards lo the internal control system or that could have a material effect on the financial statements. We are not aware of any fraud or suspected fraud of any kind communicated by current or former employee5, analysts, regulators or any others. We are not aware of matters related to fraudulent activity or other non-compliance with law or regulation arising since the beginning of the period which have been communicated to the Charity Commission. Provision of infomiation We have made available to your representatives all significant financial records and related data. We have provided to YOLJ all other information requested and given unreslricled access lo persons within the charity from whom you have deemed il necessary lo obtain information. All other records and related information, including minutes of all management rneelings, have been made available lo you. Accounting records All financial transactions of the charlty have been properly reflected in the accounting records in accordance with the requirements of the Charrties Act 2011 and have been properly reflected in the financial statements. Accounting estimates We confirm that the methods. data and signrficanl assLJmplions used by us in making a¢¢ounling estimates. and their related disclosures. are appropriate lo achieve recognition, rlleasureen1 and disclosure that is reasonable in the context of the applicable financial reporting frarnework. We confirrn that we have informed you of all such significant assumptions. Minutes and Contracts The minute books presented lo you contain complete and authentic minutes of all meetings of the charity's Iruslees held since the beginning of the period under review. We have complied with all aspects of contractual agreements that would have a material effect on the financial slaternents in the evenl of non-compliance. None of the ItU51ees had al any time in the period an interest In any contract with the charity except as disclosed in the notes to the financial statements. Law and Regulations We confirm that we are not aware of any possible or actual instance of non-compliance with those laws and regulations which provide a legal and regulatory framework within which the charity conducts ils business and which are Central lo the charity's abilrty lo conduct ils business. except as explained lo yourselves and disclosed in the financial slalemenls. We confirm that we have reviewed the guidance'How lo report a seriDUS incident in your charity published by the Charity Commission. We also confirm that no Serious Incident Reports have been submitted to Ihe Charity Commission. nor any events considered for submission, during the

accounting period or in the period from the balance sheet dale lo the date of approval of the financial slalemttnls. We are not aware of any instances during the period where the charity has operated outside ils charitable objectives as laid down in its governing docurnenls. We Gan confirm that our procedLJr6s for handling data are compliant with the General Data Protection Regulation and that there have been no events which Could re5uII in any penalty being levied by the Information Commissioner'5 Office which could have a material impact on the financial slalemenls. Tanglbla Fixed Assets The nel book amounts at which fixed assets are included in the balance sheet are arrived al.. After taking into account all capital expendf(ure on additions thereto, bul no expenditure properly chargeable lo revenue. After eliminating the cost and auMUlated depreciation relating lo items sold or otherwis& disposed of. After providing for arnortisalion and impairment al rates sufficient ID reduce the nel book amounts lo their residual value by Ihe time Ih&y become no longer econornically useful lo the We confirm that all tangible fixed assets included in the financial slalemenls exisl at the balance sh8el dale. Investmants None of the charity's investments have declined in value to an amount less than the carrying value in the balance sheet. Slo¢ks and Work in Progre35 Stock and work in progress shown in the balance sheet, represents all stocks and work in progress owned by the charity wherever situated al the balance sheet dale. The quantities of stock and work in progress were ascertained by a physic81 count carried out al the balance sheet dale. Stocks and work in progress have been valued al the lower of cost and nel realisable value, or on such other basis as required by the SORP. For this purpose, cost represents all expenditure Incurred in bringing stock and work in progress lo ils condition and location at the accounting date including related overhead expenditure based on a normal level of aclivily. Full provision has been made in the accounts for all liabilities al the balance sheet date in respect of all rtttms inclLJded in stock and work in progress. All goods despatched and invoiced lo customers (where relevanll al the accounting dale have been excluded from stock and work in progress. We have no plans lo abandon product lines or other plans that will result in any excess or obsolete stock that has not already bgen providgd lor in the financial siatemenls. Other Cuent Assets We are of the opinion that other current assets have a value on realisalion in the ordinary course of operations al least equal lo the amounts al which they are slated in the financial slalemenls. In particular adequate provision has been made against all amounts owing to the charity. which are known, or may be expected, lo be irrecoverable.

Assets - General We confirm Ihal the charity has salisfaclory lille lo all assets appearing in the balance sheet and that they are free from any lien or charge unless otherwise staled in the financial statements. We have no intentions th81 may materially alter the carrying value or classification of assets and liabilities reflected in the financial slalemenl5. Llabllltles - Gengral All known liabilities of the charity al the balance sheet dale have been included in the financial slatemenls. Adequate provisions have bèen made in the financial s18lemenls for liabilities, which are known lo exist but the amount of which, cannot be accurately determined. Provision has been made for all grant commitments made by the charity in line with the requirements Dfthe SORP. Taxation The charity has not und@rtakgn any activities during the year upon which a lax liability arises. Statement of Ilnan¢ial actlvlties All income of the charity for the period under review has been included in the financial slalemenls. Except as disclos8d in the financial slalemenls the resutts for the period wer8 not materially affected by.. transactions of a sort not usually undertaken by the charty. circumstances of an exceptional Dr non-recurring nature. ¢harges or Credits relating to prior periods. All grants, donations and other income, the receipt of which is subjecl lo specifi¢ terms or conditions. have been notified to you. There have been no breaches of lerrns or condition5 during the period in the application of such income. Transactlons with trust8&s and othor related parties Trustees. remuneration We Confirm that no remuneration was paid lo Iruslees during the period under review. Key managementp8rsonng1 comp8nsalion We confirm that the key management personnel of the charity comprise solely the trustees of the company who have held office during the period. No other person has had any authority or responsibility for planning, dire¢ling or controlling the activities of the company. We confirm the accuracy of the disclosure of the Key Management Personnel eompensation. which includes all employee benefits paid, payable or provided by the charty or on behalf of the charity in exchange lor services rendered lo the charity. 11 also includes any consideration paid on behalf of any parent undertaking of Ihe ¢harrty in respect of any goods or services provided to the charity.

Related party transactions We confimi that we have fully disclosed to you the identity of all of the charity's related parties. You have been provided with details of all transactions between the charity and ils lated parties that have arisen during the accounting period and we confirrll that the disclosure made in the financial slalemenls of these transactions Is complete and accurate. We confirm the fa¢lual accuracy of the controlling party disclosure in the financial statements. Capital Commitments The financial slalemenls make full disclosure of all oulslanding amounts contracted for al the balance sheet date in respect of Capital expenditure. Post Balan¢e Sheet Events Since the balance sheet dale no events or transactions have either occurred or are pending which would have a rnalerial effect upon the financial statements al that dale, or for the period then ended, or which are Df such significance in relation lo the charity's affairs as lo require disclosure in the financial slalements. Financial Facilities Sin¢e the balance sheet date adequate financial facilities have continued lo be available lo the charity and we have no reason lo believe that such facilities will be withdrawn within the next etve months. Review of golng concern basis We confirm that we have considered the charity's future operations, working capital requirements and ¢ashflows and we feel that the going concern basis is appropriate for the preparation of the financial statements for the period under review. Our considerations have covered a period of not less than 12 months from the dalg of the approval of the financial slaloments. Our consideration has included a thorough assessment o)f the charity's ability lo continue trading as a going concern in light of the COVID-19 panLtemic and the global economic uncertainty il h85 eaused, and ol Brexrt and the end of the Brexit transition period. We have taken appropriate measures, a5 far as possible based on the information Currently available to us. to safeguard the current and future operations ol the ¢harity. In making this assessment we have prepared revised forecasts, eashflows and our disaster planning includes due consideration of corgnavirus contingency measures. All projected cashflows. management accounts and other information and assumptions used in reaching this Gtsnclusion have been made available lo you lor the purposes of your assignment. We confirm that our plans for future actions required lo enable the charity to continue as a going concern are feasible. There are no material uncert8inlies of which we are aware that cast doubt on the charty's ability lo continue as a going concern. We are of the opinion that the disclosure on going concern in both the Iruslees. report and the financial statements is an accurate refla¢tion Df the charity's financial position. Current economic climate- COVID-19 and Brexit We confirm that we are aware of our responsibility as Iruslees lo consider, as far as possible wf(h the information Currently available lo us, the full impact of the COVID-19 pandemic and ils effect on the global economic climate Ilogelher'COVID-19'18nd Brexit and the end of the transition period (together 'Brexil'l, on all aspects of the charity's financial and narrative reporting.

We confirm that 811 represenlalions made in this letter include due consideration of these factors. In particular this includes, bul is not limited lo, the following.. Appropriate disclosure has been included in the charity's narrative reporting regarding the impact of COVID-19 and Brexit on the charity's performance during the period, our assessment of principal risks and uncertainties and the future activity of the charity., We acknowledge OLJr responsibility in the preparation of the financial slalemenls for making appropriate judgments, estimates and assuwplions. We have informed YOLJ ol the judgements and eslimales. including those related lo COVID-19 and Brexit, that have had the most signrficanl irnpacl on the financial slatemenls., The financial slalements reflect the Conditions which existed al th8 r•porting dale. lo the extent that the spread of COVID-19 was known and government measures were announced. together with its impact on the local and global economi¢ climate., and lo the extent that arrangements and agreements had been announced in respect of the UK leaving the European Union. The effect of material non-adjusting events subsequent to the reporting dale has been disclc>sed in the financial siatements", We have reassessed the value of the charity's investments In light of COVID-19 and Brexrt. We conf1rm that they have not declined In value lo an amount less than the carrying value al the reporting dale., We have considered whether the charity's tangible fixed assets hav& been impaired due lo COVID-19 and Brexit. We have also considered whether our estimate of usefLJI &conomic lives remains appropriate. Our consideration has included a review of the current market value of those assets and their future economic performance., We have considered whether the nel realisable value of stock and work in progress has been affected by COVID-19 and Brexit. Where required, the carrying value of stock and work in progress has been adjLJSted at the reporting dale", Al the reporting dale, any additional liabilitie5 arising as a resu of COVID-19 and Brexrt have been recognised. We have specifically considered whether any additional provision is required in respect of.. Doubtful debts,. Onerous leases and contracts., Redundancy payments. Approval of Financial Statements We confirm that the above represenlalions are made on the basis of enquiries of management and staff with relevant knowledge and èxperiencè and, whère appropriate, of inspection of supporting documentation suffi¢ienl lo satisfy ourselves that we can pioperfy make each of the above represenlalions to you. The financial statements and the conlenls of this letter were formally approved by the board al meeting held on the date shown below. Yours faithful Mrs D O'Donnoll for and on behalf of the Board of Trustees Dale..

Unaudited

(A company limited by guarantee)

Contents

Worthing Society for the Blind

(A company limited by guarantee)

Trustees

Company registered number

Charity registered number

Registered office

Accountants

Trustees’ report For the year ended 31 March 2021

LEGAL AND ADMINISTRATIVE INFORMATION

Constitution

Trustees and Directors

Registered Office

Independent Examiners

Statutory Information

Trustees’ report For the year ended 31 March 2021

Objectives of the Charity

Financial Report

Financial Results

Investments and Reserves Policy

Trustees’ report For the year ended 31 March 2021

Trustees Responsibilities in Respect of Financial Statements

Trustees Actions

Trustees’ report For the year ended 31 March 2021

Benefits to Sight Support Worthing's Members

Board of Trustees Future Business Objectives and Initiatives

Business Objectives

Our Purpose

Our Mission

Our Objectives

Trustees’ report For the year ended 31 March 2021

Management Organisation and Infrastructure

Staff

Volunteers

Board

Disclosure of Information to the Independent examiners

Independent examiners

(A company limited by guarantee)

Independent examiner's report

Independent examiner's report to the Trustees of Worthing Society for the Blind ('the company')

Responsibilities and basis of report

Independent examiner's statement

(A company limited by guarantee)

Statement of financial activities (incorporating income and expenditure account) For the year ended 31 March 2021

Worthing Society for the Blind (A company limited by guarantee) Registered number: 03818652

Balance sheet As at 31 March 2021

1. Accounting policies

1.1 Basis of preparation of financial statements

1.2 Company status

1.3 Going concern

1.4 Income

1. Accounting policies (continued)

1.5 Expenditure

1.6 Government grants

1.7 Tangible fixed assets and depreciation

1.8 Investments

(A company limited by guarantee)

1. Accounting policies (continued)

1.9 Interest receivable

1.10 Stocks

1.11 Debtors

1.12 Cash at bank and in hand

1.13 Liabilities and provisions

1.14 Financial instruments

1.15 Pensions

1. Accounting policies (continued)

1.16 Fund accounting

2. Income from donations and legacies

3. Income from charitable activities

Notes to the financial statements For the year ended 31 March 2021

3. Income from charitable activities (continued)

4. Income from other trading activities Income from fundraising events

Notes to the financial statements For the year ended 31 March 2021

5. Investment income

6. Investment management costs

Notes to the financial statements For the year ended 31 March 2021

7. Analysis of expenditure by activities