Company registration number 04616526 IEngland and Wales) Charty registration number 1095904 {England and Wales) THE TORCH TRUST FOR THE BLIND ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 THE TORCH TRUST FOR THE BLIND LEGAL AND ADMINISTRATIVE INFORMATION TrustseslDlrectors M Baker A Brown l Akinlunde S B Armstrong B WAnderson E Townsend IAppointed 7 November 20241 {Appointed 5 February 20251 IAppointed 6 November 20251 {Appointed 5 August 20251 P Rice SMBurr DrT G Slammers Secretary L Prickett Charlty number 1095904 Company number 04616526 Prlnclpal address Torch House Torch Way, Northampton Rd Market Harborough Leics LE16 9HL Registered office Torch House Torch Way, Northampton Rd Market Harborough Leics LE16 gHL Independent examiner Philip John Dymond FCCA Cheyettes Ltd 167 London Road Leicester LE2 1EG LeadershipTeam Chief Executive Head of Finance and Operations Head of Services Head of Technical Services S. Dawkins L Prickett A Blow P Wood THE TORCH TRUST FOR THE BLIND CONTENTS Page Message from the Chair and CEO Trustees, report 3-12 Independent examiner's report Statement of financial activities 14 Balance sheet ststemenl of cash flows Notes lo the financial statements 17-30 THE TORCH TRUST FOR THE BLIND MESSAGE FROM THE CHAIR AND CEO FOR THE YEAR ENDED 30 SEPTEMBER 2025 The past year has been one of steady progress, faithful provision, and growng anlicipalion for what God may do next through Torch Trust. Across our staff, volunteers, and clients, we continue to see commitment, warmth, and a shared desire lo serve blind and partially sighted people well. 11 has been a year where much of our work has focused on strengthening foundations, devèloping new t¢)ols, and deepening rèlationships, all of which are helping lo prepare us for future development. The words Scripture continue lo anchor our work.. 'For God, who said, 'Let light shine out of darkness,, made his light shine in our hèarts lo give us the light of the knowledge of God's glory displayed in the face of Christ°12 Corinthians 4."61. This continues to shape our vision as we seek lo ensure that blind and partially sighted people can access Christian resources, connect wth others, and encounter the Christian faith in a¢¢essible ways. This year we have seen steady and encouraging progress across our Servi￿$. Our holiday programme has once again provided valued opportunities for fellowship, rest, and encouragement. Feedback consistently highlights the sense of community and care experienced by guests, volunteers, and staff, and continued demand reflects the importance of this area of work. Alongside this. we have taken significant steps forward in the development of accessible Christian resources. The launch of the Braille library SD card marks an important milestone in improving digital access to our content. We are also grateful for continued progress in partnerships with organisalions such as Dolphin, Realsam, RNIB, and others, as we work together lo expand access to Christian material through a range of digital platfomis. Our chaplaincy programme continues to develop and is now beginning lo receive referrals, providing important early support for those adjusting lo sight loss. Our online groups, including a refreshed book group, remain a valued space for connection, fellowship, and mutual encouragement. Work with children and young people is a current area of focus. This year we added new resources and launched an initiative called 'Hope for All., also knoNvn as the Lamb Project, as il involves free soft loy, audiobook lambs. While other plans remain in development, there is growing engagement and clear potential for this to become an increasingly important aiea of our ministry in the years ahead. We are also grateful for a strong year end financial position, supported in particular by legacy gifts and the continued gener0511y of our donors. This has provided stability and enabled continued investment in key areas of development. Al the same lime, we recognise the importance of broadening our support base to ensure long-temi suslainabilily. Our partnership work has also continued to deepen. Collaboration with organisations such as Compass Braille and the United Bible Societies is helping lo extend the reach of accessible Scripture across multiple languages and Contexts. These relationships are increasingly important as we look to serve a wider global audience. We have continued lo work closely with Torch Malawi lo help them become more self-sufficienl and less dependent on UK funding which will result in them being able lo investigate Income Generating Activities both for themselves and for the 50-60 T0￿h Fellowship groups they support. This year has also included important developments in leadership and organisalional strengthening. As Chair and CEO. we have focused on consolidating systems, strengthening teams, and ensuring a stable foundation for future development. We are encouraged by the resilience and commitment of stsff and volunteers throughout this period of transition. Looking ahead. we do so wrth quiet confidence and real hope. Much of this year has been about consolidation and development. bul these foLJndations are intended to SUPPDrt future growih. In particular, we are seeking to expand our reach among children and young people. strengthen engagement with churches and partners, and continue improving access to Christian resources for blind and partially sighted people in the UK and beyond. THE TORCH TRUST FOR THE BLIND MESSAGE FROM THE CHAIR AND CEO (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 With gratitude for all that has been achieved, and with expectation for what lies ahead, we move into the coming year trusting in God's continued faithfulness to Torch Trust. Tony Brown Chairman Sarah Dawkins CEO THE TORCH TRUST FOR THE BLIND TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2025 The trustees present their annual report and financial statements for the year ended 30 September 2025. The accounts have been prepared in accordan￿ with the accounting Policies sel out in note 1 to the accounts and comply wf(h the charity's Memorandum and Articles of Associab"on, the Companies Act 2006 and 'Accounling and Reporting by Charities." Statement of Recommended Practice applicable lo charities preparing their accoun15 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Irelantl IFRS 1021° (published in October 20191. Objectives and activities Objects and Eth05 The objects of Torch Trust are the relief and support of blind and partially sighted people in accordance with the Christian Basis of Faith contained in the charity's governing document. In 2020 Torch Trustees reaffimied some core principles that continue lo guide the work of the charity.. Torch is boldly Christian, and our calling is to stimulate and nurture blind and partially sighted people's Christian faith journey. This means we have a focus on both sensitive evangelism to those who do not yet identify as Christian and supporting the discipleship journey of those who do. It also means that we seek to be inclusive, looking for ways lo engage all blind and partially sighted people and not just those that we have regular contact ¥Mth. We re¢ognise the importance of a personal approach that deeply values and nurtures relationships. This combination of factors has some practical implications for the scope of work that we do.. We work directly with blind and partially sighted people, dealing with them as unique individuals. 2. Given Torch's size and resources we leverage our impact by working with and through others, supporting churches, for example, to include blind and partially sighted people in their community life. The Trustees continue to endorse the following statement of the charity's purpose.. Torch Trust exists to enable blind and partially slghted people to encounter Jesus, grow In thelr Christian faith and thrive in Christian community- Our four CO￿ Values of being Christ-cenlred, People-focussed, Open and Creative are reinforced continually through our Thursday morning prayer limes as staff lake turns lo reflect on one or another of them in a lime of group devotions. Our programmes are deliVe￿d primarily in the UK although we reach many other countries with our accessible literature and have a particular overseas emphasis in Malawi. Here Torch Trust founded and supports an autonomous non-govemmenlal organisalion called Torch Trust for the Blind International Imalawil which has ils own board of Iruslees. Torch reaches many other countries indirectly by producing braille Bibles for Compass Braille, which distributes them to Bible Societies worldwide. The origins of the Torch Trust of today go back to 1959 when the Trust and ils eponymous magazine, The Torch, were taken on by Ron and Stella Heath. It now operates from Torch House, the headquarters and production building in Market Harborough, Leicestershire. Torch employs around 23 staff and benefits from the skills of many committed volunteers. It has an annual budget of around £800,000 and reaches over 10,OQO people with sight loss. Publlc Boneflt The trustees of the charity have complied with their duly under Section 17 of the Charities Act 201110 have due regard to the public benefit guidance published by the Charity Commission. The objects of Torch Trust are the relief and support of blind and partially sighted people in accordance wth the Christian Basis of Faith contsined within the charity's governing document. THE TORCH TRUST FOR THE BLIND TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2025 The aclivilies, programmes and services provided in furtherance of these objects have been described in this report. They are available lo people of all faiths or none who wish to avail themselve5 of what Torch ha5 to offer. The Charity is also keen lo ensure that cost is not a barrier to participation. Many of its services are free. Publications are provided al no more than a prinl-equivalenl price. Torch also assists clients whose financial situation prevents them from participating by, where appropriate, discounting or subsidising the cost, as in the case of Torch Together holidays. Achievements and performance in the year The year 2024-25 was a year of advancement. Torch has continued lo offer Its services both in person and online, and has improved access lo resources lo those who are blind or partially sighted through an SD card ¢onlaining most of our braille library. Clients have enjoyed in house and virtual 'Coffee Mornings, and community prayer monthly, a Lent course, podcasts and book discussions. Throughout the year, we registered 135 new clients, representing 135 people who now have access to accessible Christian literature, in addition lo over 2740 existing clients. Over 8131 items were borrowed from the library, and, using 'Articles for the blind,. we were able lo send these free of charge to clients requesting them. Also, 149 new reSoUr￿S were transcribed and added to the library. As we completed the fourth year of our Torch Together holidays, we were thrilled lo have 71guesls join us across four separate events.. two holidays in Poole. one in Northampton and at Torch House. our base in Market Harborough. We continued our bursary scheme which was sel up to remove barriers for those otheNrise unable to afford a holiday. One bursary scheme guest said, '1 was deeply touched by Bible teachings in th8 mornings. I was like th8 women at the well and my Lord Jesus came lo meet m&. Bul l often-times slwggle lo follow him in my lrfe. My heart gol ref￿shed toward my Lord and I was enCOu￿ge￿ to show and shar? Jesus Chnst th￿Ugh my life. As soon as l arrived at Cober Hill, I felt so comfortable because friendly people and a wam? welcome We￿ waiting for me. The holiday was beyond my expeclalion in lenns of getting close lo our Lord Jesus Chnst, being loved by faithful people, and having fun together through all aclwilies. It was such a blessing from God., Operation Pathway. launched in 2021-22, continues to be a blessing to many. In the first year. this initiative saw us offering 1000 Pathway audio Bible players free of charge lo anyone with sight loss in the UK. The following year we sent out another 439 players, the year after that 295 and in 2024-25 yel another 324. That's 2058 people who have received the New Teslamenl and Psalms through a handheld audio player! A couple of bits of feedback relayed by our Client SeThices team. She is delighted with her Bible player and phones her frieipds and ￿latIveS and plays the Bible verse lo them down the phone., 'He now has Vascular Dementia so spoke to his wife and she says they play it constantly for him. So thankful., In an effort to reach children in a similar way, we introduced an audio book lamb offered free to under 18's. Funded by Fight for Sight, this soft toy Comes embedded with a recording of the The Jesus Storybook Bible by Sally Lloyd-Jones. It has provided a real hil among recipients and we look forward to further expanding our selection of reSoUr￿S for children. In 2024-25, we participated in a variety of exhibitions including Sight Village Central in Birmingham, Visionary in London, Vision Zone in several Counties, the Methodist Conference and the Big Church Festival. This allowed us to engage with clients and build relationships with sight loss agencies across the UK. In addition, Torch was featured In various print publications, on the tele on BBC1 and on the radio for UCB1 and Premier Christianity. This helped lo raise our profile and promotè our service offerings. In the area of support for the ministry, we remain keen lo engage wth individual donors. Overall, the number of donors increased again this year, for which we and our prayer partners give thanks. This is something we want to see more of In 2025-26 as we help 8 wder group of churches and individuals see the importance of supporting and giving hope lo Christians experiencing any form of visual Impaimienl. Our Sight Loss Friendly Church program continues to help churches to consider sight loss wthin their immediate and wider community. This year saw over 7307 downloads of Sight Loss Friendly Church resources and there has been greater personal contact wth churches thanks lo the efforts of our new Church Partnership Coordinator. THE TORCH TRUST FOR THE BLIND TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2025 We continue to produce 'Refieclions', a short radio programme which is broadcast on RNIB radio each Sunday. 11 was listened lo 6677 times, encouraging and Inspiring people with thematic reflections on the Good News of Jesus's forgiveness. Overarching Strategy for 2025126 Torch continues to implement the Strategy adopted by the Board for implementation in the previous year. The strategy recognises that all human beings, whatever challenges they face and gifts they enjoy, have some fundamental needs. Since Torch has a speafic and God-given focus on the spiritual wellbeing and development of people who are blind and partially sighted, the Strategy is structured around four needs of our beneficiaries that we know, from experience, are key lo their living fulfilled lives". Support to support people whose sight is deteriorating, offering care and encouragement, sharing eXperien￿S, ideas and sources of help. Encounter to reach out to people losing their sight wth the good news of God's love, opening up ways for them to encounter Jesus and find the fulfilment and pea￿ of life lived with Him. Belonging to develop a range of ways for blind and partially sighted people lo have fellowship together. support One another and feel that they belong. Growth to help blind and partially sighted people to grow as followers of Jesus, to develop their God-given gifts and become more confident and able lo contribute lo their community. Strateglc Dlrectlon In the coming years, we expect there lo be many challenges lo overcome, Induding financial. Vvhile we believe in an abundant and loving heavenly Father who will provide, we also recognise our need to carefully steward our resources. Thus, we will prioritise the following areas.. Doing Things Differently in terms of connecting with clients and churches and supporting Torch Malawi. Reaching New People helping our target beneficiaries encounter Christ, particularly younger generations in the UK and anyone beyond the UK. Developing our Capacity to Serve our beneficiaries by engaging more volunteers, by adapting our offerings of Accessible Christian Literature, and by providing flexible Wor￿.ng for staff. Plans for 2025126 To guide the work of Torch in 2025126, the Board and Leadership Team have agreed lo develop the following areas in line with our strategy. Each area detsils some specific objectives for the year.. Objectives against the strategy for 202S126 To guide the work of Torch in 2025126, the Board and Leadership Team have agreed to the following outline of key developments lo Torch's services in line with our Strategy. Each area details some specific objectives for the 2025126 year.. 1.1 Doing things differently 1.1.1 Torch Connect. Torch has always had a very relational approach and this is key lo our whole DNA. Connecting people is therefore a core element of what Torch does and we want lo find new ways lo refresh and expand opportunities for blind and partially sighted people lo connect together and have a sense of belonging, fellowship and mutual support. Objective 1.1.. We ￿ll11 continue to offer a diverse programme of Holidays, running three weeks of holidays, a Scripture Union family holiday and a retreat. We also want to explore the possibility of adding city breaks to our repertoire to give more choice and availability to our clients. We also want to explore a Christmas themed holiday in January 2027. In older to serve new clients we will devise a system where some holiday spaces are iing fenced for new attendees. ObJectlv& 1.2.. We will continue lo advertise the ne￿AY launched Chaplaincy seNice, seeking to reach new clients with the spiritual support il offer. THE TORCH TRUST FOR THE BLIND TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2025 1.1.2 Church Engagement. Encouraging and equipping churches to be inclusive of blind and partially sighted people Is an important part of Torch's ministry. This yèar we aim to continue to meet the need5 of blind and partially sighted people and also focus on reaching out and engaging with churches to encourage them and equip them. ObJgCtlvo 1.3.. We will start lo offer more bespoke training to Churches in addition lo general training. so that we can better meet their needs. Objective 1.4- We will seek lo create more engaging conlenl for our various aUdien￿S. 1.1.3 Torch Malawl. Torch Malaw has been an important part of Torch's ministry over many years. recognise the duly we have lo continue supporting them bul also lo help them lo become more self-sufficienl and independent. In this new financial year the annual Contribution lo Torch Malawi is being reduced by £4000. The same will be done in the next year, focusing our support to the production of AC￿Ssible Christian Literature. Objective 1.5.. As mentioned above, we wll seek lo provide grants that cover the costs of producing Accessible Christian Literature for blind people in Malaw. Objectlve 1.6.. We will work with other organisalions lo help secure sustainable funding and support for Torch Malawi's aid work. enabling blind and partially sighted people lo live more independent and sustainable lives, without long-temi reliance on aid. Objective 1.7: We will plan a visit to Malawi this year lo build on existing relationships and also lo see where the money is being spent and if there is any expertise we can offer. 1.2 Reachlng new people 1.2.1 Encounter ObJgCtlv& 2.1.. We will raise our profile amongst churches, bible Colleges and other Christian organisalions, seeking to enable them lo better incorporate visual impairment in their ministry. primarily through the CEO and 'Church Engagement Officer.. We want to be the first stop shop for faith and sight loss, highlighb'ng that we are able lo adapt resources lo an individual's specific needs. Objective 2.2." We will continue lo develop the Torch Ambassador programme, to enable us to ￿a¢h more audiences including sight loss exhibitions and Christian exhibitions. ObJectlv& 2.3.. We will investigate publishing a book with IVP which will give hope to those who are new lo sight loss, a mix of practical and spiritual support. Objective 2.4.. We will exhibit at a number of exhibitions ensuring that we are building name recognition in both secular and church based communities. Objective 2.5.. We will seek opportunities lo work with secular sight loss agencies highlighting and signposting those with sight loss lo resources that give hope. Objective 2.8: We wll review how we are recruiting new clients, seeking to better serve a wider demographic who would benefit from our services 1.2.2 Chlldran and young peoplg Torch currently has very little focus on ministry with blind and partially sighted children and young people. Our strategy is lo partner with Christian child and youth centred organisations lo reach those who have sighl10sS Wrth the gospel. Objectlve 2.7.. Vve will work with child focused organisalions lo help blind and partially sighted children be fully included, while also seeking opportunities for Torch to support the child in exploring faith. Objective 2.8.. We ¥MII seek to work with Scripture Union lo help them deliver a second family holiday which would Include children with sight loss who may also have some level of cognitive impairment. THE TORCH TRUST FOR THE BLIND TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Objective 2.9.. We aim lo continue lo work with a few key publishers lo request their files for upcoming popular non Illustrated books for children and young people. We will publicise these books and transcribe them on a demand only basis. Objectlve 2.10: We will create a child friendly page on the website giving ideas of books and resou￿$ that we Can provide for young people. Objective 2.11.. We wll continue lo promote the Lamb project as widely as possible so that we can reach more of the 25,000 blind and partially sighted children. Objectlve 2.12.. We wll explore 3 parents support group, giving a space for support for parents and guardians of blind and visually impaired children lo receive spiritual support. 1.2.3 Global reach In our digital age, geography is becoming less and less of a barrier. 11 is increasingly easy for Torch therefore to have a global impact. Over the coming years we will deliberately begin shifting OLJr thinking and culture away from a sole focLJS on the UK to develop a more global mission. To this end we will, after the initial bedding in period of the Compass Braille work, look lo reach out with this facility lo a global audience involving other Bible translation agencies. Objectlve 2.13". We will further develop our website lo ensure that as many Torch resources as possible are freely available lo download from anywhere in the world. 1.2.4 Communications Objectlve 2.'14: We will develop and implement a communications strategy, seeking to develop knowledge of the work of Torch in secular and faith based areas. Objective 2.'15: We will continue to produ￿ our own publications, post on social media, ensuring that they are relevant, are engaging and reflect the vision for the work of Torch. Objectlve 2.16.. We will proactively seek opportunities for Torch lo be featured regulady on Christian media both print and radio. Objectlve 2.'17: We will exhibit at church facing and secular events lo engage with potential new clients and help churches be a welcoming place for all VIPS. Objective 2.18: We will produce high quality podcasts and a weekly radio show helping to resource clients and others. 1.3 Developing our capacily to setrve 1.3.1 Knowing our b&neficiarlg$. Our benefi¢iaries are the reason Tor¢h exists and so developing a ¢learer picture of who they are and the needs they have is vital if we are going to be as fruifful as possible. We will therefore seek to develop a better understanding of who we currently serve, who we might serve and what their needs are. Objective 3.1". We will provide opportunities foi stsff lo engage with clients through holidays, events, and visits to Torch House. These interactions will strengthen relationships and ènsure our work remains centred on the people we serve. Objactivo 3.2.. We will change the way in which we use the Pathway player, every recipient will automatically be enrolled as a client meaning that they will re￿1ve INhat's New and be aware of more of the things that Torch can offer them. Objective 3.3- We wll plan an event in Northem Ireland as part of our every other year commitment. ObJectlv& 3.4: We will review our internal processes, streamlining where feasible, in order lo better meet the needs of our clients. THE TORCH TRUST FOR THE BLIND TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2025 1.3.2 Volunteers. With an uncertain funding environment and rising costs of employment, we recognize the need to expand the input of volunteers across Torch's work. This will involve pulling in place improved processes for the recruitment, managèment and support of volunteers as well as 8 change in attitude and culture lo include more volunteering alongside paid staff. ObJgCtlvo 3.5: We will implement the new volunteer policies and procedures ensuring that current volunteers fil into a current role description and have correct line management. Objective 3.6." We wll develop a Volunteer Journey that Is understood and lived out by volunteers and staff. Objectlve 3.7." We will continue lo aim lo budget in a way that means that volunteers do not need lo contribute financially in order to serve Torch. Vve want people from all walks of life to be able lo afford lo serve the ministry. Objective 3.8: Develop a Trustee Handbook 1.3.3 Adapting our Accessible Christian Literature offering. We recognize that ACL is the service on which Torch was founded and is our irreducible core. There 15 more work lo do in continuing to review and adapt our ACL offering to meet the changing needs of our beneficiaries and the changing availability of resources through different channels. Objectlve 3.9.. Build strong audio partnerships by persevering wth SPCK and Hodder on audiobook opportunities, securing full lists of their current offerings, and exploring 'One Audio, alongside the remaining Goc)d Book Company titles. Objective 3.10.. Expand children's resources by acquiring the rest of the Parable series from Lion Hudson, exploring further lillès from their catalogue, before moving on lo other publishers. Objgctlvg 3.11: Strengthen the Library and eshop by continuing to review all categories and making adjustments where appropriate with longer-term aim to future ovethaul. 1.3.4 Digitalisation. As the world becomes more digital, we recognize the urgent need to prioritise the acceleration of Torch's use of technology in meeting the needs of our beneficiaries. This will involve an ongoing process of using developments in accessible technologies and channels to serve our beneficiaries and also the development of Torch's platforms and infrasltuclure. We will priorilise resource allocation to this vital activity al the expense of reducing resources lo other areas of the ministry. ObJgCtlvo 3.12.. We will work on some specific digital projects including. We will plan lo work with Dolphin lo add our content to their Easy Reader mobile app 4. We will continue lo work with WPO lo allow individuals as well as Aulhorised Entities like us around the world to download the ACL we have created 5. We will continue to work with Realsam on their In Your Pocket device and Smart Speaker offering in order to gel our conlenl accessible through these channels. We are also working on our own Alexa skill. 1.3.5 Flèxible working. We want lo be a flexible employer, believing that this flexibility wll help staff lo feel more valued and part of the team. Vvhere il is possible we want to offer flexible working. Objectlve 3.13. When any new role is advertised we will seek lo identify if it could be flexible or hybrid in nature to allow us lo diversify our worf(force and also offer adjuslmenls lo those with visual impairment to increase the depth and breadth of sight loss insight across all departments. Objective 3.14. During the Annual Leaming Review process, we wll identify areas in which each team member can use their skills lo contribute lo priorities outside of their immediate job role. Objectlve 3.16.. We will act in accordance with our Visibly Better Employer stsndard IRNIBI, aiming lo have equality for blind and visually impaired candidates. Objective 3.16.. We will migrate the Access databases to the Intranet to allow better access for home workers. THE TORCH TRUST FOR THE BLIND TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Financial review Total income of £986,576 was up slightly from the prior year, continuing the upward trend which began in fiscal year 2022. Legacies, 81 a lolal of £459,329, were oncè again significantly more than projected, being another 40 higher than the previous year. Income from individual donors, al £303K, appears lo be down but, once restricted donations of over £32K are taken into account, the total shows an increase of 50h. Grant monies were up a little, to £14K thanks to funding from Fight for Sight for our aLJdio book lambs. We continue to focLJS on reaching more clients by making our services known. as opposed to direct fundraising. and this seems to be working on the whole. Rental income was down because of the loss of one of our lenanls,Voluntsry Action South Lei¢eslershire (VASLI. However, by letting the Conference room to Rainbow Care on a weekly basis. the loss was somewhat mitigated. The overall drop was 18%, from £68K to £56K. Stsffing expenditure for the year was up 160h. with the added roles of Church Partnership Coordinator, Resource Curator and Production & IT Assistant. In addition we brought on two short-term Programming Assistants. Other expenses showed a net decrease, however, making the overall expenditure rise just 11 QA and indicating that expense control was very good. The Stslemenl of Financial Activities shows a surplus income, over expenditure, of £79,822 for the year. This supports an ambitiOLJS bLJdget for the 2025-26 financial year. The investment of proceeds from the sale of property five years ago generated dividends of £31.352 for fiscal year 2025. Meanwhile, the year showed an unrealised capitsl loss of £53.120, leaving the current value of the investment al £1.048.800. just slightly above its original value. The Trust continues to have a strong balance sheet with the nel assets rising slightly lo just over £2.6M. The Trustees ackn￿edge with gratitude all grfts received from grant-making trusts during the year. The Trustees also wsh lo express their appreciation lo the many individuals who support the work of Torch Trust by making donations, large and small, and to honour those who have supported Torch by leaving a legacy gift. The financial adminislralion of the Trust was overseen by the Head of Finance and Operations, Linda Piickett. Linda reported lo the Board on the financial performance of the Trust via a duly constituted Finance Committee. Reserves Policy In 2024-25, the Board adopted a cash reserves policy of six months average expenditure. This amounted lo £392,500.150% of £785K budgeted expenditure for the yearl Restrlcted Funds The nel Reslricled Funds balance of £40,568 pertains lo our Production Assistsnt's salary, English NIV Bibles, Torch Together bursaries and audio book lambs. Most of the funds are likely lo be spent during the course of the next financial year. Designated Funds Three years ago, Torch set aside a sum of £400,000 as a 'Developmenl Fund, for out-of-budgel projects aimed al developing the ministry and ils sustainability. In 2024-25 funds wère used lo complete the podcast project from the previous yèar. Beyond that, no further draw was made from the fund, despite other Inilialivès being launched. At year end the Development Fund had a balance of £351,791. Budget A budget was agreed with the Trustee Board for the 2025126 financial year which supports a programme of activities and services which meet Torch Trust's objectives set out herein. How Torch raises its funds Funds Come in through the prayers and financial support of our many friends, clients, supporters and volunteers. This indudes legacies. We also continue to receive donations and grants from trusts. In addition, Torch re￿iVeS income from sales of accessible Christian literature, from letting space in Torch House, and from the investment of the proceeds from the sale of the Holiday Retreat Centre in 2020. THE TORCH TRUST FOR THE BLIND TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Risk review The trustees recognise their responsibility to identify the major risks to which the Trust is exposed, to review these risks and establish systems to mitigate them. Accordingly, the Trustees have insliluted a formal review of risks and controls. These are reviewed on an ongoing basis by the Leadership Team and at least annually by the Board. The Trustees continue lo use Peninsula as Human ReSoUr￿S and Health & Safety advisors in 2024-25. In addition lo providing regular advice, they conduct an annual inspection al the premises. The advisors expressed themselves satisfied with our attention to Health and Safely, and they monitor mallers requiring our attention to ensure they are dealt with promptly. The trustees re￿1ve regular safeguarding reports and review risks. During the year documents are reviewed av before the AGM. These indude our Safeguarding Policy, Register of Trustee Interests and Ethical Funding Policy. As a Christian organisation, the Torch Trust seeks and expects to maintain consislenlly high standards of conduct in all aspects of ils operation. Structure, governance and management Constitution The Torch Trust for the Blind was incorporated on 13th De￿rnber 2002 as a company limited by guarantee to carry on the activities of the unincorporated charity of the same name Iregislered charity no. 2086781. The company was registered as a Charty wlh aims equivalent lo those of the unincorporated trust and was conslituled under a trust deed dated 17th January 1952. The Torch Trust for the Blind is commonly identified as the Torch Trust and frequently referred lo as Torch. A review of the Memorandum & Articles of Association took pla￿ in August 2021 and minor changes were approved and lodged ID enable meetings lo take place other than in person., to update the quorum,. lo remove the age limilalion to serving on the board", and lo Iimil the length of terms of service. In May 2024 11 was decided to update the style of language used In our Basis of Faith Isee "3. Obiecls'l by adopting that of the Evangelical Alliance. Board At the year end the Board of Trustees comprised eight members, three of whom are blind people and one partially sighted. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of approval of this Report were.. M Baker A Brown l Akintunde S B Armstrong 8 W Anderson E Townsend P Rice SMBurr Dr T G Slammers (Appointed 7 November 2024} IAppoinled 5 Fèbruary 20251 IAppoinled 6 November 2025} (Appointed 5 August 20251 In order to maintain a wide range of skills on the Board, candidates are actively considered and approached as appropriate. New trustees, who also become directors, are appointed by the Board after being interviewed by trustees andlor Chair and a memberlsl of the Executive team and after the taking up of references. In taking up their responsibilities the new trustees are required lo attend an induction day during which they are advised of their responsibilities under both charity law and the Torch Trust's governing documents and are introduce(I lo the work and leadership of the Trust. Ongoing training is also provided. 10- THE TORCH TRUST FOR THE BLIND TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Leade￿hiP The supervision of the Trust's operations and activities has been delegated by the Board to the Chief Executive Officer ICEOI who, In consullalion wth the rest of the Leadership Team, makes day lo day decisions lo ensure the Trust runs in a manner consislenl with its charitsble purpose, aims and values and wth the strategic objectives and policies agreed by the Board. The Leadership Team, consisting of the CEO, the Head of Finance and Operations, the Head of Services and the Head of Technical Services, attend most Board meetings, and other leaders also attend Board meetings, from time lo time, as appropriate lo agenda topics. Staff Torch's diverse programme of activities and ServI￿S depends on the expertise and commitment of a loyal team of staff. Torch Trust seeks always lo apply the Christian values and behaviours that underpin ils Work IChrist- Cenlred, People-Focused, Open, Creativel to the employment and management of staff. Volunteers In making a difference to the lives of blind and partially sighted people, Torch relies on a large number of willing volunteers to support the delivery of its services. In the context of lo¢al Torch Fellowship Groups around the UK, usually meeting monthly. several regional coordinators are involved, while work at Torch headquarters. Torch events and at home involves another 60 people or so. Volunteers are engaged in hospitality for Coffee Momings. in the reading and editing of audio books, the compilation and mailing of Torch publications, the hosting of online groups, and the delivery of the Torch Together holidays, the chaplaincy service and the radio program. Torch 'ambassadors' help lo establish churches as Sight Loss Friendly and to promote Torch at exhibitions. Through the Ambassador Program, the number of volunteers involved with Torch is growing. The Trustees are grateful for the diligence and enthusiasm of the large number of people, both staff and volunteers, working to deliver Torch's vision for people with sight loss. Affiliations Torch is part of a wider Christian disability network called Churches for Al. This helps to ensure that Torch is consistent in ils approach to Clients who may also have other disabilities, as well as sight loss. Torch is also a member of a wide range of.. Sight loss organisalions and networks. helping il lo keep in touch with sector developments and providing opportLJnities to work with other organisations on specifi¢ projeds where that is in the interests of Torch. E.g. Visionary, Macular Society, Talking News Federation, UK Association for Accessible Formats and the DAISY Consortium Christian organisations and networks, seeking lo be an Influen￿ in churches thus enabling them to be a key component in enabling blind and partially sighted people lo have a fulfilling Christian life and. with appropriate volunteer training. support people locally who are going through the traLJma of sight loss. E.g. Global Connections, Evangelical Aliance, Through the Roof, Scripture Union, Christian Suppliers Group and safeguarding specialists Thirtyone'.eight Torch has an international reach and so seeks to maintain contact with Christian organisations working wth visually impaired people around the wortd. THE TORCH TRUST FOR THE BLIND TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2025 This Report has been prepared having taken advantage of the Small companies exempb'on in the CompaniesAcl 2006. The trustees, report was approved by the Board of Trustees. L Prickett Company Secretary Dated.. ......................... A Brown Trustee director Daled........................... 12- THE TORCH TRUST FOR THE BLIND INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE TORCH TRUST FOR THE BLIND I report on the accounts of the charity for the year ended 30 September 2025, which are sel out on pages 14 to 30. Respective responsibilities of trustees and examiner The charity's trustees, who are also the directors of The Torch Trust for the Blind for the purposes of company law. are responsible for the preparation of the financial slalements. The Iruslees consider that an audit is not required for this year under section 144121 of the Charities Act 2011 (the 2011 Actl and that an independent examination is needed. The charity's gross income exceeded £250,000 and l am qualified to undertake the examination being a qualified member ofAssoaalion of Chartered Certified Accountants. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to.. examine the financial statements under section 145 of the 2011 Act", lill lo follow the procedures laid down in the general Directions given by the Charity Commission under section 14515llbl of the 2011 Act.. and Iiiil lo stale whether particular matters have come to my attention. Basis of independent examiner's report Independent examiner's statement In connection my examination, no matter has come to my attention.. (al which gives me reasonable cause to believe that in any material respect the requirements.. to keep accounting ￿CordS in accordance with section 386 of the Companies Act 2006," and lill to prepare financial statements which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and ￿rith the methods and principles of the statement of Recommended Practice.. Accounting and Reporting by Charities., have not been mel or Ibl to which, in my opinion, attention should be drawn in order to enable a proper Ljnderslanding of the rinancial statements to be reached. Philip John Dymond FCCA Independent Examiner Cheyettes Ltd Chartered Certified Accountants 167 London Road Leicester LE2 1EG Dated.. 13- THE TORCH TRUST FOR THE BLIND STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2025 Unrestrlcted Restrlcted funds funds 2025 2025 Total Unrestrlcted Restrlcted funds fund$ 2024 2024 Total 2025 2024 Notes Income from: Donations and legacies Charitable activities Investments 777,114 70,021 102,090 37,322 29 814,436 70,050 102,090 740,258 64,645 103,853 55,484 795,722 64,645 103,853 Total income 949,225 37,351 986,576 908,756 55,464 964,220 Expenditure on: Raising funds Charitable activities Other expendrture 8,670 860,127 6,556 8,670 891,528 6,556 9,921 772,336 6,512 9,921 804,815 6,512 31,401 32,479 10 Total expenditure 875,353 31,401 906,754 788,769 32,479 821,248 Net gainslllossesl on investments 11 153,1201 153,1201 106,918 106,918 Net Income 20,752 5,950 26,702 226.905 22,985 249,890 Transfers between funds 18,1351 8,135 812 18121 Net movement in funds 12,617 14,085 26,702 227,717 22,173 249,890 Reconciliation of funds- Fund balances a11 October 2024 2,571,757 26,483 2,598,240 2,344,040 4,310 2,348,350 Fund balances at 30 September 2025 2,584,374 40,568 2,624,942 2,571,757 26,483 2,598,240 The statement of financial activities includes all gains and losses recognised in the year. Al income and expenditure derive from continuing activities. 14- THE TORCH TRUST FOR THE BLIND BALANCE SHEET AS AT 30 SEPTEMBER 2025 2025 2024 Notes Fixed assets Tangible assets Investments 13 14 1,092,051 1,048,800 1,114,513 1,101.920 2,140,851 2,216,433 Currgnt assets Stocks Debtors Cash at bank and in hand 16 17 4,250 8,886 486,673 4,545 35,284 390,237 499,809 430,066 Creditots- amounts falling due within one year 18 115,7181 148,2591 Net current assets 484,091 381,807 Total assets less current liabilitios 2,624,942 2,598,240 The funds of the charity Restricted income funds Unrestricted funds 21 22 40,￿8 2,584,374 26,483 2,571,757 2,624,942 2,598,240 The company is entiued to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 September 2025. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial ststemenls have been prepared in accordan￿ with the provisions applicable to companies subject to the small companies regime. The financial ststements were approved by the trustees on . A Brown Trustee director 15- THE TORCH TRUST FOR THE BLIND STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 SEPTEMBER 2025 2025 2024 Notes Cash flows from operatlng actlvltles Cash (absorbed byllgeneraled from operations 28 15,8541 51,064 Invg$tlng a￿1¥111￿$ Purchase of tangible fixed assets Investment income received 128,9081 103,853 102,090 Net cash generated from investing actlvltles 102,090 74,945 Net cash used in financing activities Net increase in cash and cash equivalents 96,436 126,009 Cash and cash equivalents at beginning of year 390,237 264,228 Cash and cash equlvalents at end of year 486,673 390,237 16- THE TORCH TRUST FOR THE BLIND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 Accounting policies Charity inforniation The Torch Trust for the Blind is a private company limited by guarantee incorporated in England and Wales. The registered office is Torch House, Torch Way, Northampton Rd, Market Harborough, Leics, LE16 9HL. 1.1 Accounting convention The accounts have been prepared in accordance with the charity's Memorandum and Artides of Asso¢ialion, the Companies Act 2006 and "AccoLJnting 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 IFRS 1021° (published October 20191. The charity is a Public Benefit Entity as defined by FRS 102. The financial slalements are prepared in slerfing, which is the functional currency of the charity. Monetary amounts in these financial ststemenls are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The prinapal accounting policies adopted are sel out below. 1.2 Going concern Al the lime of approving the financial stslemenls, the trustees have a reasonable expedalion that the charity has adequate resources lo continue in operational existence for the fO￿Se&able future. Thus the trustees ntinue to adopt the going concern basis of accounting in preparing the financial ststemenls. 1.3 Charitable funds Unrestricted funds comprise the accumulated sutplus of deficf( on the Statement of Financial Aclivilies. They are available for use al the discretion of the Iruslees in furtherance of the general objectives of the charity unless the funds have been designated for other purposes. Designated funds are those sums set aside by the Iruslees for specific purposes. Reslricled funds are subject to specific restricted condrtions imposed by donors. The areas of use of the restricted funds are sel out In the notes lo the accounts. Endowment funds are subjed lo spe¢ifi¢ ￿nditionS by donors that the capvial must be maintained by the Charity. 1.4 Incoming resources Income is recognised when the charity is legally enliued to il after any performance conditions have been mel, the amounts can be measured reliably, and il 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 GiftAid or deeds of covenant is recognised at the lime of the donation. Legacies are recognised on receipt or olhenNis& if the charity has been notified of an impending dislribulion, the amount is known, and receipt is expected. If the amount is not known, the legacy is Irealed as a contingent asset. Income re￿iVed in respect of holidays and retreats lo be fulfilled in a future accounting period is deferred. 17- THE TORCH TRUST FOR THE BLIND NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 30 SEPTEMBER 2025 Accountlng pollcles Icontlnuedl 1.5 Resources expended Expenditure is included on an accruals basis. Costs are classified under the charity's functional categories of expenditure and type of expense in order lo provide more useful infomation. The functional costs comprise direct costs attributable lo the activity, including irrecoverable VAT. Where costs cannot be directly attributed they have been allocated to activities on a basis consistent with budgeted use of resources. 1.6 Tangible fixed asset5 Tangible fixed assets are initially measured al cost and subsequently measured al cost or valuation, nel of depreciation and any impaimient losses. Depreaalion is recognised so as lo write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Freehold land and buildings Plant and equipment Fixtures and fittings Straight line over one hundred years 25QA per annum on a slraighl line basis 250/¢ per annum on a slraighl line basis Freehold land and assets in the course of construction are not depreciated. The gain Dr loss arising on the disposal of an asset is determined as the differen￿ between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Fixed asset investments Fixed asset investments are initially measured at transaction pri￿ excluding transaction costs, and are subsequendy measured al fair value at each reporting date. Changes in fair value are recognised in net incomellexpenditurel for the year. Transaction costs are expensed as incurred. 1.8 Impalrment of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any SLJch indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss lif any). 1.9 Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks lo their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost. Nel realisable value is the eslimaled selling pri￿ less all eslimaled costs of completion and costs to be incurred in marketing, selling and distribution. 1.10 Cash and cash equivalents Cash and Cash equivalents include cash in hand, deposits held al c811 wth banks, other short-tem liquid investments wlh original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown thin borrowings in current liabilities. 18- THE TORCH TRUST FOR THE BLIND NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 30 SEPTEMBER 2025 Accountlng pollcles Icontlnuedl 1.11 Flnanclal 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 ils finanaal inslrumenls. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the conlraclual provisions of the Inslrumenl. Financial assets and liabilities are offset, with the net amounts presented in the financial stslemenls, when there is a legally enforceable right to set off the recognised amounts and there is an intenb'on lo settle on a net basis or to realise the asset and settle Ihe liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balan￿s, are initially measured at transaction pri￿ including transaction costs and are subsequently carried al amortised cost using the effective Interest method unless the arrangement con51ilules a financing transaction, where thè transaction is measured at the present value of the future retsipls discounted al a market rale of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities. including creditors and bank loans are initially recognised al 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 rale of interest. Financial liabilities dassified as payable within one year are not amortised. Debt instruments are subsequendy carrieLI al amortised cost, using the effective Interest rale 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-currenl liabilities. Trade Creditors are recognised initially at transaction price and subsequendy 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. 1.12 Employee benefits The cost of any unused holiday enlitlemenl is recognised in the period in which the employee's servicès are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.13 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 19- THE TORCH TRUST FOR THE BLIND NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 30 SEPTEMBER 2025 Income from donations and legacies Unrestricted Restricted funds funds 202S 2025 Total Unrestricted Restricted funds funds 2024 2024 Total 2025 2024 Donations and gifts Legacies Grants 303,785 459,329 14,000 37,322 341,107 459,329 14,000 292,652 442,106 5,500 55,464 348,116 442,106 5,500 777.114 37,322 814,436 740.258 55,464 795,722 Charltable adlvltlgs 2025 2024 Sales of Braille, giant print and audio Holiday5 and retreats Other income 42,170 27,266 614 36,777 24,335 3,533 70,050 64,645 Analysis by fund Unrestricted funds Restricted funds 70,021 29 70.050 For the year ended 30 September 2024 Unrestricted funds 64,645 Income from Investments Unrestricted Unrestricted fund$ funds 2025 2024 Rental income Income from listed investments Interest receivable 56,019 31,352 14,719 68,008 31.174 4,671 102,090 103,853 -20- THE TORCH TRUST FOR THE BLIND NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 30 SEPTEMBER 2025 Raising funds 2025 2024 Fundraisin Literature Advertising and promotions Other supporter activity and donations and ublici 5,176 3,494 4,831 4,730 360 Fundraising and publicity 8,670 9,921 8,670 9,921 For the year ended 30 September 2024 Fundraising and publicity 9,921 21 00inco￿ In0Tr￿ O Or O (ri ¢FJ Ci ¢D ¢D trl ts) 10 m O r ¢0 V O 17) tn In (O O io v O ts) U) f f) ¢D I Iri r io ¢D ￿ CD O r J (N 00)rtuJ*M (TJ 0 ts) 17) f fj (TJ tL C (OQOa W