2023-09-30-accounts - The Torch Trust For The Blind

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

		Page
Chairman's statement
Trustees' report		2-11
Independent examiner's	report	12
Statement offinancial activities		13
Balance sheet		14
Statement ofcash flows		15
Notes to the financial statements		16-29

		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
		funds	funds		funds	funds
		2023	2023	2023	2022	2022	2022
	Notes	8	6	5	5	6	8
Income from:
Donations and legacies		710,422	18,119	728,541	582,967	19,615	602,582
Charitable activities		33,717		33,717	40,105		40,105
Investments		70,260		70,260	56,237		56,237
Total income		814,399	18,119	832,518	679,309	19,615	698,924
Expenditure on:
Raising funds	5	7,622		7,622	15,940		15,940
Charitable activities	6	701,784	36,999	738,783	631,872	37,277	669,149
Other expenditure	10	10,161		10,161	6,913		6,913
Totalexpenditure		719,567	36,999	756,566	654,725	37,277	692,002
Net gains/(losses) on investments	11	13,004		13,004	(71,219)		(71,219)
Net income/(expenditure)		107,836	(18,880)	88,956	(46,635)	(17,662)	(64,297)
Transfers between
funds		(21,285)	21,285		(18,142)	18,142
Net movement in
funds	7	86,551	2,405	88,956	(64,777)	480	(64,297)
Reconciliation offunds:
Fund balances at 1 October
2022		2,257,489	1,905	2,259,394	2,322,266	1,425	2,323,691
Fund balances at 30
September 2023		2,344,040	4,310	2,348,350	2,257,489	1,905	2,259,394

					2023		2022
				Notes	6	6	F
Fixed assets
Tangible assets Investments				13 14		1,103,217 995,003		1,120,662 981,999
						2,098,220		2,102,661
Current assets
Stocks				16	1,748		3,464
Debtors				17	5,022		7,028
Cash at bank and in hand					264,228		191,326
					270,998		201,818
Creditors: one year	amounts	falling due	within	18	(20,868)		(45,085)
Net current assets						250,130		156,733
Total assets less current liabilities						2,348,350		2,259,394
Net assets	excluding	pension	liability			2,348,350		2,259,394
The funds Restricted	ofthe charity income funds			21		4,310		1,905
Unrestricted	funds					2,344,040		2,257,489
						2,348,350		2,259,394

			2023		2022
		Notes	8		6
Cash flows from operating activities Cash generated from operations		26		2,642		18,067
Investing Purchase Investment	activities oftangible fixed assets income received		70,260		l11,512) 56,237
Net cash activities	generated from investing			70,260		44,725
Net cash	used in financing activities
Net increase in cash and cash equivalents				72,902		62,792
Cash and	cash equivalents at beginning	ofyear		191,326		128,534
Cash and	cash equivalents at end of	year		264,228		191,326

			Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
			funds	funds		funds	funds
			2023	2023	2023	2022	2022	2022
			5	6	f	2		f
Donations		and gifts	307,653	18,119	325,772	312,275	19,615	331,890
Legacies		receivable	382,019		382,019	235,692		235,692
Grants			20,750		20,750	35,000		35,000
			710,422	18,119	728,541	582,967	19,615	602,582
Charitable		activities
							2023	2022
Sales of Braille, giant print and audio							13,148	15,951
Holidays	and retreats						19,679	23,329
Other income							890	825
							33,717	40,105

Income	from investments
		Unrestricted	Unrestricted
		funds	funds
		2023	2022
		5	6
Rental	income	36,574	25,945
Income	from listed investments	30,675	30,212
Interest	receivable	3,011	80
		70,260	56,237

			2023	2022
Fundraisin	and	ublici
Literature			4,739	5,057
Advertising	and	promotions	2,533	10,353
Other supporter		activity and donations	350	530
Fundraising	and	publicity	7,622	15,940
			7,622	15,940
For the year ended 30September 2022
Fundraising	and	publicity		15,940

				Eti NN OO N		(5 CO	CD IA td	COCA N Ol Cd Ol	COCA N Ol Cd Ol	COCA N Ol Cd Ol	CD CO N	I EC O	I EC O	I 0 O	I 0 O	CON(ON CO (0 Ol I (0 55 O (5 CC 5( N Al	CON(ON CO (0 Ol I (0 55 O (5 CC 5( N Al	CON(ON CO (0 Ol I (0 55 O (5 CC 5( N Al	CON(ON CO (0 Ol I (0 55 O (5 CC 5( N Al	CON(ON CO (0 Ol I (0 55 O (5 CC 5( N Al		CIOI(05(OECO O OI 5I O EA If) EA O CO IA EA 5C EO I N I	CIOI(05(OECO O OI 5I O EA If) EA O CO IA EA 5C EO I N I	CIOI(05(OECO O OI 5I O EA If) EA O CO IA EA 5C EO I N I	CO IAI Cl 5(	CO IAI Cl 5(	I CI CO		N N
				IEI N 0o I Ol		EA	Ol dl CO CO (9	O O IA	CV N I		Ol 5I I N	N (D Cl		Ol N		CA CO I I		O (0		EO 'to N	CO		CA O O I EII O 'd EO Ol O (5 to I N N	CD O CD 'd	O CD CA	5C CO N CO	I Ol (5 IA		I N	(D Ol CD CD	Cd CO I ed 5E
																															f
				0																				0 (5		I Ol PI EA		t I N		EA CD Ol 8 N Ol	(5 Al 'lC
				0 m
				CO
																	I O CO		EOOOr (0 55 EA O 5( '5 dl CD O CD (0 EO I N N
				8
				C
				mmf												CO															CI (0
				= E																											N
														I		I I
				Id C		CA EO
						EO
				0 0
OZ	O IUDZI-Z0 O COI-Z	O		00 0 C '0 ttl 0 (L dl I 0 Dl 00 $0 '0 5(			N CD CO O N CD O N'EI ul N						Ol 0I I N		EO '5 CI
tQ	IU2	Cl
	IU
ZI- 0 I- COD I Z0 0I- LUxI-	I- Ca CL0Z Z U. IUZI-0I- C(I LUI-0Z	I IL. O CI Ci 0- Lu 0	8 'C CI		C td (5 E (5 C dl 0 m, dl 8 o (5 CO O	C EdO (5 Ed (5 (5 0 O	ID (5 Z	Ih L )D 5IL dl m C 0 DEX Qt		VlC00E0 CL '0 (5 CD Ed EE dl Ed 55 E			0 'C (L 0 C(58 CC			E 0 td m), O Z	(5 td C dl td (L' ld TI C dl 0			0 td Cl dl L 5! 0 L		0 Pn EI D L C ttl m c C m m ul E 0 C C dl E m0 0 Z UJ dl0L dlC0 C tdE td '0C E mO Ol 'O L td CL dl W0 Q. Z Ed0 ld L' m dl Pd 0. L X 0 dl 0 O C 0 m E— m '0 L0 Cd 'dl Ed dl) 0 td I—Q dl 0 Ed0C L Ol L- dl td dl 0 Q.					dl0. X dl L 15C (5 mm W Id 8 0 PO m oom m 0 0 (Q (O (0

							nl	I	CO
Cl							I CO	bl
C								I	Dl CO
C0 O	CO CO		OO	Ol Ol			CO		CO
			I	OI
			O	CO CO
			Cll	O	Dl
			CO	CD	CC
			CO
							O O	'	O O
							CII		CII
							O		O
	Cl CO		O CO	'	O Cl		PC CD		CD
					I		CO
					Al				CV
								COO	CO
								IA	IA
									CO
			CO	I			CO
			CD CI				IA 'CC	CII W	CO
							CII		CII
								'
							CII		CII
			Q		I OC		CO CC
			IA		IA		CO
						CC
						CC CI
						C4
						I0
						E8
						Ch
						4I
						CA
						CI
ll						CO'0
l		IO CC IO 0 DCCI ck 0				'0	IO	OI
l
l 4		Cl Cl WSCC I4 ' '5 OC C C CI 4( D CC:				„C 0 Cl W 0 0 I IO 0 0 U. D IL

Net movement	in	funds		2023	2022
				f
The net movement		in funds is	stated aRer charging/(crediting):
Depreciation of	owned tangible		fixed assets	17,445	18,344

The average	monthly number ofemployees during the y	ear was:
		2023	2022
		Number	Number
Management	and operational	19	20
Employment	costs	2023	2022
		5	8
Wages and salaries		400,915	371,371
Social security costs		26,139	24,590
Other pension costs		27,245	26,965
Staff training		2,127	2,599
Other staff costs		29,338	14,675
		485,764	440,200

			2023	2022
Trustees	meeting	expenses	2,373	2,273
Trustees	indemnity	insurance		650
Legal and	professional		4,056	420
independent Examiner's fees			3,732	3,570
			10,161	6,913

Gains and	los	ses on investments
			Unrestricted	Unrestricted
			funds	funds
			2023	2022
Gains/(losses)		arising on:		5
Revaluation	of	investments	13,004	(71,219)

Tangible fixed assets
		Freehold lend	Plant and	Fixtures and	Total
		and bugdings	equipment	fittings
		5	5	5
Cost
At 1 October 2022		1,343,477	101,123	71,074	1,515,674
At 30September 2023		1,343,477	101,123	71,074	1,515,674
Depreciation and impairment
At 1 October 2022		235,124	89,558	70,330	395,012
Depreciation charged	in the year	12,357	4,344	744	17,445
At 30September 2023		247,481	93,902	71,074	412,457
Carrying amount
At 30September 2023		1,095,996	7,221		1,103,217
At 30September 2022		1,108,353	11,565	744	1,120,662

	Listed
	investments
Cost orvaluation
At 1 October 2022 830September 2023	981,999
Valuation changes	13,004
Carrying amount
At 30September 2023	995,003
At 30September 2022	981,999

Financial		instruments			2023	2022
					6	6
Canying	amount of		financial assets
instruments		measured	at fair value through	profit or loss	995,003	981,999

Stocks
			2023	2022
			6	6
Finished	goods and goods for resale		1,748	3,464
Debtors
			2023	2022
Amounts	falling due within one year:		6	f.
Trade debtors			1,440	4,170
Other debtors			1,399	1,116
Prepayments		and accrued income	2,183	1,742
			5,022	7,028

18	Creditors: amounts	falling due within one year	falling due within one year	falling due within one year
									2023	2022
									6	6
	Other taxation and social security								4,157	4,005
	Trade creditors								5,406	30,657
	Accruals and deferred	income							11,305	10,423
									20,868	45,085
19	Deferred income
	Deferred income relates to rents received			relating	to the	following	accounting	period.
									2023	2022
									6	6
	Balance at start ofyear								6,700	5,825
	Amounts released to incoming		resources						(6,700)	(5,825)
	Amounts deferred in year								6,700	6,700
									6,700	6,700
20	Retirement benefit schemes
									2023	2022
	Defined contribution	schemes							6	8
	Charge to profit or loss	in respect ofdefined		contribution		schemes			27,245	26,965

	At 1 October	Incoming	Resources	Transfers	At 30
	2022	resources	expended		September
					2023
				5
Afriica - general		13,939	(36,843)	22,904
Eastern Europe	1,786	480			2,266
Other UK restricted	119	3,700	(156)	(1,619)	2,044
	1,905	18,119	(36,999)	21,285	4,310
Previous year:	At 1 October	Incoming	Resources	Transfers	At 30
	2021	resources	expended		September
					2022
				f	8
Africa - general		17,835	(37,277)	19,442
Eastern Europe	1,306	480			1,786
Other UK restricted	119	1,300		(1,300)	119
	1,425	19,615	(37,277)	18,142	1,905

Unrestricted	ds						(Continued)
Previous year:	At	1 October	Incoming	Resources	Transfers	Gains and	At 30
		2021	resources	expended		losses	September
							2022
					E	E	E
Development		391,900					391,900
General funds		1,930,366	679,309	(654,725)	(18,142)	(71,219)	1,865,589
		2,322,266	679,309	(654,725)	(18,142)	(71,219)	2,257,489

	Unrestricted	Restricted	Total
	funds	funds
	2023	2023	2023
	E	E	E
At 30September 2023:
Tangible assets	1,103,217		1,103,217
Investments	995,003		995,003
Current assets/(liabilities)	245,820	4,310	250,130
	2,344,040	4,310	2,348,350
	Unrestricted	Restricted	Total
	funds	funds
	2022	2022	2022
	E	E	E
At 30September 2022:
Tangible assets	1,120,662		1,120,662
Investments	981,999		981,999
Current assets/(liabilities)	154,828	1,905	156,733
	2,257,489	1,905	2,259,394

	2023f	2022 6
Within one year	6,000	6,000
Between two and five years	4,500	10,500
	10,500	16,500

Cash generated from	operations	operations		2023	2022
				6	6
Surplus/(deficit) for the	year			88,956	(64,297)
Adjustments for:
Investment income recognised		in statement	offinancial activities	(70,260)	(56,237)
Fair value gains and losses on		investments		(13,004)	71,219
Depreciation and impairment oftangible fixed assets				17,445	18,344
Movements in working	capital:
Decrease/(increase) in	stocks			1,716	(456)
Decrease in debtors				2,006	33,841
(Decrease)fincrease in	creditors			(24,217)	15,653
Cash generated from	operations			2,642	18,067