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2022-03-31-accounts

Charity registration number 1078606

CHINA VISION

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

CHINA VISION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees S W G Hallett OBE
C McMillan
G de Smidt
T Mellon
L Wang
E Bassani
A Hinton
S Walker
P Crook
Charity number 1078606
Principal address 44 Priory Park Road
London
NW6 7UN
Independent Examiner Kendall Wadley LLP
Granta Lodge
71 Graham Road
Malvern
Worcestershire
WR14 2JS
Bankers HSBC Bank Plc
210 High Holborn
Holborn
London
WC1V 7BZ

CHINA VISION

CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7 - 13

CHINA VISION

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2022

The trustees present their annual report and financial statements for the year ended 31 March 2022.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's constitution, the Charities Act 2011 and the 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 (FRS102) (as amended for accounting periods commencing from 1st January 2019).

Objectives and activities

The charity's objects are

"Supporting individuals and organisations working to empower and enhance the rights of people with disabilities in China. We form people-to-people links, sharing experiences to drive practical action aimed at improving the lives of people with visual and other disabilities. By sharing information and resources internationally we work to reduce discrimination and enhance social equality."

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

The financial year covered in this report was again dominated by the Covid-19 pandemic in China and the constrained operational climate facing China Vision and other charities. Despite this, China Vision has continued its work to support education, information and equal rights for visually impaired people and other people with disabilities in China in the following ways:

Each of the above activities accords with China Vision’s mission of:

“Supporting individuals and organisations working to empower and enhance the rights of people with disabilities in China. We form people-to-people links, sharing experiences to drive practical action aimed at improving the lives of people with visual and other disabilities. By sharing information and resources internationally we work to reduce discrimination and enhance social equality.”

All of China Vision’s activities are conducted on a strictly non-profit basis and our trsutees give their time voluntarily to the running of the organisation, sourcing information and providing facilitation and mentoring to partner organisations in China. Regular (usually quarterly) trustee meetings were held online, and an AGM was convened online on 7[th] January 2022.

CHINA VISION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Project management

During 2021-22 China Vision continued to provide mentoring, project management, facilitation and evaluation to our projects. China Vision is responsible for overall financial management and the secure transfer of funds to all our projects. Our main aims are to ensure that local partners can operate safely, legally and effectively, to bring the greatest benefit to visually impaired and other disabled people in China.

Support for capacity building

China Vision continues to support capacity building of its local partner organisations through a combination of project management, information sharing, advice, mentoring and training. This has been an ongoing process carried out by China Vision’s on-the-ground consultants and China Vision’s trustees, who provide constant support on a voluntary basis. Capacity strengthening is a key component of China Vision’s work in support of disabled people’s rights and improved lives in China. We continue to reflect on our approach and to seek ways to be more effective, within the constraints of the socio-political context. Throughout this reporting period, China and other countries around the world experienced the Covid-19 pandemic, which severely challenged our work and that of our partners. During this none of our trustees was able to visit China in person, so we needed to adapt our work to provide more online support, using Zoom and other online platforms to provide mentoring and coaching to our partners and working with individuals and organisations in China to assess the impact of the epidemic and related factors on people with disabilities.

Research and information Exchange

China Vision continues to (a) monitor developments in disability affairs in China, and (b) source articles and information about international disability affairs for use by readers in China and elsewhere. China Vision trustees Chris McMillan gives her time voluntarily to find open-source articles in English from around the world, covering a wide range of issues, such as inclusive and special needs education, accessibility, IT, life skills and disability rights. Many of these articles are then translated byYe Zijie and made available to Chinese readers via the Talang digital magazine. Links to the articles are also made available to English readers via the China Vision website.

During this financial year China Vision assisted and advised Prof Anna Lawson and her colleagues at the Centre for Disability Studies, University of Leeds, in conducting a project entitled ‘U-Lead East Asia Disability Rights Forum’. This project was approved for funding and formally began on 1[st] January 2018. China Vision is an advisory organisation to the U-Lead project and has also helped to facilitate some of the project’s actions and outputs, including the handling and disbursement of research grants to disabled researchers in China, Hong Kong and Taiwan.

Financial review

The net movement in funds this year amounted to a deficit of £44,886 (2021 £47,178 surplus).

As at the balance sheet date total funds amounted to £152,731 (2021 £197,617), which consisted of unrestricted funds of £21,205 (2021 £19,022) and restricted funds of £131,526 (2021 £178,595).

After making allowances for tangible fixed assets the free reserves of the charity amounted to £21,205 (2021 £19,022).

The charity activities are driven by project related income however the Trustees aim to maintain free reserves at a level of 3- 6 months unrestricted expenditure which it exceeds this year.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

CHINA VISION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Structure, governance and management

The charity was established by its constitution dated 20th May 1999.

The trustees who served during the year were:

S W G Hallett OBE

C McMillan G de Smidt T Mellon L Wang E Bassani A Hinton S Walker P Crook

Trustees are selected by a search and recruitment process, by all Trustees following a regular needs analysis and by reviewing the balance of skills required on the board. Potential Trustees provide a CV which is circulated to the board before selection is approved.

The Trustees delegate responsibility for the day to day operations to members who give their time voluntarily to the running of the organisation, sourcing information and providing facilitation and mentoring to partner organisation. Quarterly Trustee meetings have been held over zoom.

The charity has no related parties to disclose.

The trustees' report was approved by the Board of Trustees.

S W G Hallett OBE

Trustee Dated: 26 January 2023

CHINA VISION

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHINA VISION

I report to the trustees on my examination of the financial statements of China Vision (the charity) for the year ended 31 March 2022.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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 that in any material respect:

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 financial statements to be reached.

Sarah Morley ACA

Kendall Wadley LLP

Granta Lodge 71 Graham Road Malvern Worcestershire WR14 2JS

Dated: 26 January 2023

CHINA VISION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022

Unrestricted
Restricted
funds
funds
2022
2022
Notes
£
£
Income and endowments from:
Donations and legacies
3
120
-
Charitable activities
4
-
24,000
Investment income
5
1
-
Total income
121
24,000
Expenditure on:
Charitable activities
6
3,069
71,069
Net (outgoing)/incoming
resources
(2,948)
(47,069)
Other recognised gains and losses
Other gains or losses
11
5,131
-
Net movement in funds
2,183
(47,069)
Fund balances at 1 April
2021
19,022
178,595
Fund balances at 31
March 2022
21,205
131,526		 Total
Unrestricted
Restricted
funds
funds
2022
2021
2021
£
£
£
120
120
-
24,000
-
227,920
1
1
-
24,121
121
227,920
74,138
480
162,915
(50,017)
(359)
65,005
5,131
(17,468)
-
(44,886)
(17,827)
65,005
197,617
36,849
113,590
152,731
19,022
178,595		 Total
2021
£
120
227,920
1
228,041
163,395
64,646
(17,468)
47,178
150,439
197,617

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

All income and expenditure derive from continuing activities.

CHINA VISION

BALANCE SHEET

AS AT 31 MARCH 2022

Notes
Current assets
Debtors
13
Cash at bank and in hand
Net current assets
Income funds
Restricted funds
14
Unrestricted funds		 2022
£
4,095
148,636
152,731		 £
152,731
131,526
21,205
152,731		 2021
£
-
197,617
197,617		 £
197,617
178,595
19,022
197,617

The financial statements were approved by the Trustees on 26 January 2023

S W G Hallett OBE Trustee

CHINA VISION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

Charity information

China Vision is an unincorporated charity and is registered in England and Wales. The registered office is 44 Priory Park Road, London, NW6 7UN.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 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.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

CHINA VISION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

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. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probably that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably,

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Equipment

3 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

CHINA VISION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.9 Foreign exchange

Transactions denominated in foreign currencies are recorded at the rate ruling at the date of the transaction.

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. All differences are included in other recognised gains and losses.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted Unrestricted
funds funds
2022 2021
£ £
Donations and gifts 120 120

CHINA VISION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

4 Charitable activities

Grants Grants
received received
2022 2021
£ £
Grants received 24,000 227,920
Performance related grants
Foundation Open Society Institute - 213,831
University of Leeds 24,000 14,089
Other - -
24,000 227,920
5 Investment income
Unrestricted Unrestricted
funds funds
2022 2021
£ £
Bank interest received 1 1
6 Charitable activities
Charitable Charitable
activities activities
2022 2021
£ £
Project costs 41,205 22,202
Grant funding of activities (see note 7) 21,060 128,823
Share of support costs (see note 8) 11,273 11,890
Share of governance costs (see note 8) 600 480
74,138 163,395
Analysis by fund
Unrestricted funds 3,069 480
Restricted funds 71,069 162,915
74,138 163,395

CHINA VISION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

7 Grants payable

Grants to institutions:
OPO
Qisehua
BEST
Talang
Shengbo
Support costs
Trustee expenses
Book-keeping
Bank charges
Accountancy
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
288
-
10,480
-
505
-
-
600
11,273
600
11,273
600		 Charitable
activities
Charitable
activities
2022
2021
£
£
-
27,834
8,751
100,989
3,667
-
1,349
-
7,293
-
21,060
128,823
2022Support costs Governance
costs
2021
£
£
£
£
288
346
-
346
10,480
10,861
-
10,861
505
683
-
683
600
-
480
480
11,873
11,890
480
12,370
11,873
11,890
480
12,370

8 Support costs

Governance costs includes payments to the accountants of £600 (2021- £480) for independent examination.

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year, but 6 of them were reimbursed a total of £2,386 in travelling, subsistence and other sundry expenses.

10 Employees

There were no employees during the year.

CHINA VISION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

11 Other gains or losses
Unrestricted Unrestricted
funds funds
2022 2021
£ £
Foreign exchange gains/(losses) 5,131 (17,468)
12 Tangible fixed assets
Equipment
£
Cost
At 1 April 2021 285
At 31 March 2022 285
Depreciation and impairment
At 1 April 2021 285
At 31 March 2022 285
Carrying amount
At 31 March 2022 -
At 31 March 2021 -
13 Debtors
2022 2021
Amounts falling due within one year: £ £
Other debtors 4,095 -

CHINA VISION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

14 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds Movement in funds
Balance at Income Expenditure Balance at Income Expenditure Balance at
1 April 2020 1 April 2021 31 March
£ £ £ £ £ £ 2022
£
Foundation
Open Society
Institute 111,613 213,831 (153,900) 171,544 - (47,815) 123,729
University of
Leeds 1,977 14,089 (9,015) 7,051 24,000 (23,254) 7,797
113,590 227,920 (162,915) 178,595 24,000 (71,069) 131,526

Foundation Open Society Institute (FOSI) - during the previous year FOSI awarded the charity with a grant to support disability rights in East Asia for the period 2020-21 to aid with the following projects:

University of Leeds - the charity was contracted by the University of Leeds to disburse research grants on behalf of the University under the project "U- Lead East Asia Disability Rights Forum."

15 Analysis of net assets between funds

Unrestricted
funds
Restricted
2022
2022
£
£
Fund balances at 31
March 2022 are
represented by:
Current assets/(liabilities)
21,205
131,526
21,205
131,526		 Total
Unrestricted
funds
Restricted
2022
2021
2021
£
£
£
152,731
19,022
178,595
152,731
19,022
178,595		 Total
2021
£
197,617
197,617

16 Related party transactions

The Trustees of this charity also form part of the board of another charity, Ability Beyond Borders CIO.

During the year China Vision advanced Ability Beyond Borders CIO £4,095 and this amount remained due at the balance sheet date.