Company registration numbEr.' 3636957 Charity registration rtumkn.. 1102016 Hastings and Rother Voluntary Association for the Blind IA company limited by Muarunt¢¢) Ann￿1 Report and FinanciaI Statements for the Year F*ndcd 31 Mai'lh 2023 manningti￿S Chgrtered Accountants 39 Ili8h Str Hattlc Eosi Sussex TN33 OEE H4stings and Rother Voluntary Associatloll for the Blind Contents Rcfcrcncc and AdrninistrdttveD￿I5 Trustec5' Repcyt 2to6 Independent Ex8min&s Repm Ststementof Financial Activities 8t09 Balance Shcet Ioto 11 Statementof Cath Flow5 12 Notes ￿ the Fit)aniiAI S￿l￿nents 131026 Hastings and Rother Voluntary kno¢lation for the Blind Referenee attd Administrative Details TTu8leeJ TNovi$ cfreasurerl R t•ne P J Gretnhaigh A Patmore {Chairn)an) G Purdey A J Hollis E PcirLr pJtan8 G Stewar4 Prcsident Other Offlc¢rs S¢ulor M4nagemen¢ T¢* F Farri¢r-TMisL Thief Extty¢ive Offictt P D¢i8an. Home Man Prlnelpal Offle¢ 3 Urn Mkzc Hill St L￿nardS on Se4L E&%t Sussex TN38 01.Q 39 High Strea Ilattle L&8t Suss TN33 OEE Re%frJtered Offl¢¢ The charity is intrKwY8toJ in En8iand and Wales. 3636957 Company Reg1$tr•t1￿ Number Chlrlty Re￿ltrAtIon Number 1102016 B•nk¢rs l.loyth knk 3rd Floor. North Bld1)￿ ￿dThUrSdaYS. l)ur rdail s¢rtion frcffl sLM8th to stren8th and continu&% to wthide a valuable (x￿tri￿ji1cn to the running of the ￿4(￿l&tic￿. Fln4ntlAI revltw There conunues to k a high levels of ¢ompdiiion rtsid￿￿1 Ca￿ and a d¢m8nd for more p&)ple to runain independ￿l in their owi hrm¢s, pl￿ ￿loW c4A of livin8 increas&s ￿ fees from sttial setvice fiJnding puts financi￿ rxessures Hcalcy House. Whi15t Hastin8s and Rother VduntaryA&sociation ft* theBlind remains sound and s(abl< the Tr￿SIteS must dosely mana8¢ C￿¢5 and c(￿lInUe10 improvr l￿F•M¢Y levels. Th¢ trolance Sheet rem&ins ￿￿11 strudurol Pa8e 3 Hastings And Rother Voluntary knocfiation for iht Blind Tn￿1￿$, Report Pollry reservc The trustw havc exarnin￿l the rowirunent f￿ frec rcscThc5 NlJidL are thLw unre5triLtrJ fiands not inves￿j in rixed a&scts, designatol fly spe£ific purtx)5es or rthcnvise L¥)mmitted. As ai i Isi Marth 2023 restriatyj funds t(rtalled £6.152 12022.. £6.1521 and unrtstrlc￿1 fithds ￿l]￿j £1,255.281 12022.. £1.366.8511. There were free reserve5 at the year end of £319.526 {2022.. £322.331) rwesenitd by currtnta&%ts. With the help of m￿th[Y m•na8•7)ULt acC￿￿tt liquidity eAn iy quid(ly idenufied and the appropriate 8dion iaken. However, the wlicy of the thari¢abie compatsy is w ￿lId up reserves by means of annua] operaiing surpluses and judicious mana8crnaJl of our investsnent assets, to et)we that th¢r¢ is Suffici￿¢ liquidity availablc to fjnance thc charity's W)rk at all lim&% give# ony identified r*cknlems. PrlnclpAll4ndlng.$o4rces Whilsi the charitaFAe company's largest Éicms of inif*N¢ 8re frcrtn Healry House and thc sh¢y. thc investm￿t& donation% 8rants and l¢ga¢i¢s also provid¢ valuable S￿reeS ofincomc ￿ hclp fvnd the ch￿lty. InveslnKn¢pollcy ¢JbJe¢rfKf The charitable company eoniinues to strike a b8laThcetawYen thene•J fw 5h¢yt tm liquidiry long￿ ¢emi gr0￿h. It is felt that the currenl asscls represett￿] and bank bAlances 8re sufficien( to meei the &ssociaLion's fore5ceable need5. Thc mw)a8a ty inYuLmcnt Ixokcrs. Walkcr CriTr% .StnckVrokers Limiied arc dcsi8ned to give a reasonable l¢vcl of dividend inL¥)rne cthnbln￿ with theq)pxNnity for I(￿8 ¢um ￿pItal growth. A5 with ihe prewous years mfirkets rem•inoJ un¢xrtain: th¢P￿f￿10 i$ 4 I￿8￿ kn inves¢mtht 8nd it is h¢)ped th$t the m8rk¢t conditions c(jntin￿to improv Strneture1 governADce Nfjlure of8overnln8 do¢4n¥nÉ Haslings #nd Rother Voluntary A￿v￿latIC￿ for the Illind is a (x>mpAny limittyj by guaranttt gov¢mLyJ by its Mttnoramthm and Articlesof AssrKiation. It 15 as a ¢harity wth the Lhwiiy ctynmisyl￿. The apy>intmtnl ot. trusw who are alw direct￿ 15 SO￿rned ty the Articlu tsf A&wiatinn of the charitahle company. Thc Fk)ard of tru%tets is authorised to aPr￿In1 new Trustcas to fill v&cancies arising through resignatim or death nf an ¢xi5tin8truste& The trustccs of the ¢h3fiLaNt company mec( ￿ a Fit mththly t4sis (r more frequuily if ¢irauns¢an¢e5 require. The sso￿ation aaively seek5 new truste&%. Inducfion and tral*lftg oflrnrtees Trustees are iYief¢d on theorganisatim ar￿ StrU￿rt along with Sfme ixck8rwt)d infmatiw on the hisw of the ¢hHrity. They receive a copy of thc Eff￿hurc and years aL*Wllts. K¢y mana8emcnt P￿￿ne1 the Chie[EX¢￿uv¢ and the rcmunLYa(i(xJ reJ]ects the r&S￿)nsIbil]ll￿s of the role and 15 agreed iy theTrws¢eu. ge4 Hastings and Rother Voluntary A&8ociation for the Blind Trnstees, Report OrganAsolloRols¢rncth The chariLy 15 tijn by the trustees havc atvjintcd a Chief Expwiive in ow411 tharge of administrati¢JL. It is thc Chief Exccutive'5 JIA) to keep trustcts regularty inf(rned and to impleM￿L the trustces Policies. The iru%iees have a]so apwinted a Managcr ai Healry H￿￿&¢ (o ovcrsee a]1 &srKcts of Roidcntsd Car& Th¢ invastmenLs arc managed by the s¢ockbroki¥s and of the trustecs. MtTJor rtsks And monrfgeip￿￿oIl￿0wtrts￿S hlajor risks. BuJipK55 risk andopcralioMITisk To maintain r¢sttves and fimdin8 at a levd so the dwiry is able to F*ovide seryices and any additi￿81 servic&s if required. To mana8e this Tisk the charity carri&5 aTh annual revithv of u)ntrols over k¢y fingn¢ia] sys¢¢ms and review￿ thc monthly managcmrnt aCC￿Lnts to adj￿rf 5trAtrgiGsto mi1188ic si8nifJcanl risks. Page S H4stings and Rother VoluntAry knociation for the Blind Trnstees, Report Stai¢Jll¢tt¢ of Trusttes, Responsibilities Th¢ Injstees {tho are also the dire£t(Ys of Ha￿ing5 and Rcthex Volunthry AS￿ation for the Blind for the purp05ts of company lawl are ruronsiblc for PTeparing the trusi¢¢s' rctm and the financial statcrnents in accordance Mryth the United Kingd(Th Aecouniing Sthndard5 (Unitrd Kin8¢kxn Gencrnjly Acqthl ACc￿￿ting Practice) and applicable law and regulatI￿S. Company law wuir¢5 the tr￿sleeS lo werAre financial Aatrmcnts f(r financial year. Undw compony law ihe ustc¢g mws¢ noi opwovc the finanaal statements unless they are sJiisfittl tha¢ they ¥iv¢ # tru¢ fair ii¢th' of the state ol a(fairs of the charitsE4e company and its incoming res￿re¢S and 8pplicati￿ of rth)urets, including its inethne and ¢x￿d1¢U￿ for thai W1￿j. In wepdringthtte ffinanehgl the tr￿￿e¢S are ro4uiroJto: sel¢r¢ SUiLable aeL7)unliTh8 policies and arffjly the¥n Ix>n5is¢a)Uy. ob5erv¢ the meth(Mls and princip1£5 in thc Charitsi¥ SORP; makejud8wi¢nts and cstimatos are rca$L￿ab1c and stale whdhcr applicable UK AcmJniin8 Sw)d•rds have be￿ followrd, 5uiy'c£t to any matrsial d¢partura discloscd and #(plained it) the financial 5¢•iemMw and prepare the rjnancial statements on the 80it)g c(fficffn t•sis unl¢ss li is inapprryriate to presume that th¢ charitable company *'ill continue in bJsines5. The trnsiees ore responsible for keeping adequate accounlin8 rtt￿ds that Hre sufficient to show Ind exploin the eharita￿t ￿mpanY$ transa￿l￿S and disclose wryth re￿￿￿￿E4t acLwracy al any time the financia] Posiiioii of the hari¢abie ¢ompany and enable them w ensure that the financi￿ ¢omply wih the cornp8ni￿ A¢1 2006. Thw are also resp)nsible for sofe8uardin8 the &85ets of the tharitaE4e ctsnp￿Y And f(Y tsking reasonable sleps for the prevention and dctcction of fraud and irre8ularities. The annu￿ rq￿ approved by thetrustees of the tharity ( and si8nedon its behalf by.. TNovis (Tr￿Sur￿} Trustee A PathJor¢ ILh&iTmanl Page 6 H451ings and Rother Voluntary Awiation for the Blind Independent E￿Miner'S Report lo the trnstees of Hastings 2nd Rother Voluntgry Asgwiation for the Blilld I r¢port ts) the tharity ¢rus¢tts on my t￿￿TrInati￿ of the ac££wnts of th¢ tharity the y￿r cnded 31 March 2023 which are sct out on page5 8 to 26. Resptctlve respollsibilitl¢s Of trnstees •tyd emmlner As the charity's tru5tces of Hasiin8s and Rother Volunthry ASS￿1￿1￿ ts the Blind (and also its direcior5 for the purp￿C$ of axnpany lawl yw are r¢sp)nsible for the prqMrnti(n of the 4￿￿￿ts in accordance wth the reqUIrem￿ls of the Companic5 Act 2￿ I'the 21X)6 Aa'l. Having sa¢isfioJ myself that the acLXMmts of H&#In￿ and Rother Volvn¢ary A￿(￿latI¢￿ for the Blind arc not required 10 be audiied undtt Part 16 of the 2006 AL* and are eli8ible f(* indepthdtht axaminatim, I r¢p)n in re5PCCt of my examin8tso) of your ¢h8rity'S acwjnls as carTiuI out undu 5eaion 145 of the Charities ALt 201 11'th¢ 2011 Act'l. In carryin8 Out my ¢xaminauui I have followrA the Diru*iLW 8iven by the Charity C¢)mmi5sion undtt seetion 14515)Ib) of ihe 201 I Ad. Independent examlDer's st*temtnt Since 11&stings and Rother Volyn¢•ry A&￿14￿0￿ for the Blinds gra%s incomc ¢x¢eed¢d £250.0￿) your examin rnust bc a mcmber of a iwJdy listed in Seth1¢￿ 145 of th¢ 2011 Ad. I ￿nffirrn l am qualifioj to undcrtake thc cxaminatim ￿uSt l am a mcThbcr of . which is one of th¢ liMttl tK)di44. I h•ve o)mpl¢ted my ¢xaminaucrt. I tx)nfinn no rnaLtCfs hov¢ mme to my a￿￿17¢￿1 itt eonnecLion w'ith the examinati{￿ 8iving me rau5¢ to tdieve: l. accountin8 records Mv¢ not kew in resped of Hastings and RLxher Voluntary As80¢iatiM for thc fllind requiral lry section 386 of¢hc 2Tr)6 ACL I 2. th¢ a¢x(¥Jnts do n¢)1 aiLwd those rccords.. or 3. the accounts do comply with the a¢¢￿n[Ing requirunt¥ts of sertion 396 of the 2(￿ Ad othtt than any requirement the acwjnts 8ive a 'truc and fair view is mauer a￿5)d¥¢d os part of an independthi Cxaminati￿. LY 4. thc accounLS have not prepara in A¢oxdanLt with the mcth(yJ5 and prin¢ipl¢s of the Statement of R¢Lummended Praetice fy a¢u)yn¢LII8 ¥nd rqx)rting by ¢haTitie5 lapplicablc io chgrities prepuring their accounts in accordancc Mith thc Finan¢ial R¢pYLin8 Swldard appli¢ablc in the UK and Republic of li¢l￿d (FR$ 10211. I have no conc¢ms and have ¢(Mne no other mluers in umnedion ￿7th the examinaticffl to ￿th]ch Jtt¢ntion should bc drawl in this r¢FKrt in order ￿ alabie a proFtt und(Trtanding of the acrnunts LO be re4¢he4L R TKWalsh MannIng¢￿sCh8￿¢rthl 39 High Street Battle E&st Susgex TN33 OEE Date.. Pgge 7 Hastings and Rother Volulllary Association for the B]iDd Sthtement of Financial Activitie5 for tbe Year F.nded 31 March 2023 ncluding Income Expendilure Account and StAtement olTotal Recognised Gains And Lo￿t5} U*resirltttyJ Tothl 2023 Cener*l Restricted N•t¢ Income Ithd Endowments frw: Donalions and leg8eies Chariiable activities othcr tTadin8 aciivities Inv￿(ment ineL*ne Othtr in¢om¢ 226.337 515.271 144,657 16,525 24,698 35,423 261.760 515.271 144,657 16,525 24,698 Total Income 962 911 Costs of trath'n8 artiviues S￿ff Costs Invc5tment mana8fmtht ¢(￿ts Charitable &criviiies Govttnance e05ts 144.954} 62,303) 16,214) 1812.640) 144.954) 162,303) 16,2141 1848.0631 12,1601 135.423) Tot81 Expendlture Rcalised gAinlllo*81 on investments unr￿iSed 8ain/llossl 011 invesrmen Net expertdiiure 1928,2711 15.9501 {35,423) 1963,6941 {5,9501 104.837 1,570 111570) Net movcment in ￿ndS {111.5701 1111.5701 RecoNclllation of funds Total fvttds trought fm4xrd Total fvnds edrried fomrd lJ66.851 1 373.003 21 l.255.281 6.152 1.261.433 The not¢s ￿ P8gas 13 ￿ 26 forni an ITh1￿ tArt of these fiTr#n¢iai s¢atements. Pa8e 8 H8$tiDgs *nd Rother Voluntsry A￿￿tA￿tion for Ihe Blind Statement of Financial Activities for the Ye*r Ended 31 March 2023 (Including In¢om¢ and Expenditure Aceount xlld Sl4temenl of Total Rerognised Gains and Total 2022 Gener*i Re51rlt¢¢d Note In¢om¢ And Endowwt1115 frorn: Dmations and legacics Charitable activiLi&4 Other tradin8 activities Inv&stment incun¢ 175.(Kl3 338.710 138,066 14.486 21.961 196.970 338,710 138.066 Total In¢ome 666.271 21.961 688 232 Exptndltur¢ on.. Cosis ol'irading Activitics Staft'Losts InvestM￿t manageM￿t ct Charitable activiiies JovernArtce etssts 143.6041 158.9281 (7.0191 {666,419) 143.604) 158.928} 17.Ol9y 1688,380) 2,8801 121.9611 Totsl Exprnditure ljnrealised 8ainl{lossl M investhjffits {77R.850} 2.801 (21.9611 IROO.8111 expendiiurc 109.778 109,778 movement in fund8 (109,778} 1109,7781 Toial funds brwgh¢ fomrd Tffjal fijnds ¢orri•J foN•rd .476.629 6.152 1.482.781 21 1306851 1373 003 All of thecharitys activÉtiu dviv¢ ¢oniinuin8 optyati(w durin8 theabove ptriods. The filnds breakdown for 2022 is sh¢)Th￿ in notc 21. The not&$ on pa8os 13 to 26 forn) ￿ intr￿] partof these financial Page 9 HAstings Rotber Voluntvdry A&gociation for tb¢ Blind (Registration number. 3636957) BalaDce Sheet 45 at 31 MAreh 2023 21)23 2022 Flytd #s$¢ts Tgngibl¢ asse Inves¢m¢nts 16 17 420,937 520.970 428,635 622,037 941.907 1.050.672 Curreni w$¢ts S￿Cks Debtors C&th at bank and in hand 18 19 3,712 72.335 275.055 62.096 291.742 357.444 351.102 Credltors: Amounts falllng due wlthlTr olle yelr 37,918 28.771 N¢¢ ¢yrrent Amets 319,526 322.331 Net *sJets 1.261,433 1.373.003 Funds of the ch8rlty: Restricted incowe fondi Ro%triLtLd 21 6,152 6,152 Unrey¢rl¢t¢d Ineome funds UnrL%lri¥l 1.255 281 -366.851 I'otAI funds 21 1.261433 1.373.003 Ftr the financial yeor ending 31 March 2023 the tharity ffltitled to &xemoion from audii undtt secticffi 477 of the CcThpanie5 Act 2006 rcl&ting tp small mponie& Dir¢¢tOTS' rcswn%ibilities'. The rncrnbcTS have not rg4uired th¢ tharity to oilain m ￿dit ol its aeLY>unts ftr the year in questi(m in aCC￿dance￿i1h 476: and The directors acknowlcd8e their rc5WnSi￿'litlcs for oJnplyin8 th¢ requirwn•ts of the Ad with respect io accounting records and thepreparati(m of a(wun Thttc accounts have ￿ pretwd in a￿xth¢￿ with the w0visi￿5 appli¢abie to o)mpanies subjttt 10 the small ¢ompAnies regime. The not&% on pages 13 to 26 an part of these financial statcmenL P¥g¢ 10 Hastillgs alld Roiher Volutttsry A￿11￿0￿ for Ihe Blind (Regiq¢ration number. 3636957) Balance Sbeet as ai 31 March 2023 The finartcial sthtemertts i)n pa8ts 8 tt) 26 #pwoval ty the and authwi5￿1 for issue on .... and signed (KJ thar Ech&lf try.. TNovis ITrwur¢r} 'rrustee Thc n¢Au on pagcs 13 to 26 forni an inte￿1 FArtof th#c firtprtcj￿ statem￿t￿ Page 11 Hastings and Rother Volun¢ary kno¢lation for the Blind Statement of Cgsh Flows for tbe Y¢ar Ended 31 March 2023 21123 2022 Note CA8h flows from oper•tlDg Ietivitiu Nct cash cxpendtlUTC AdJuStMe￿ts to Cash flov4s from notyc•sh It¢ms Depreciati(n Investment inoxne l.(xs&liprofitl on disTA)581 of investmcnts R¢valuation of inv&%thients 1.570 14,956 116.5251 5.950 104.837 16.231 114.486) {43.8641 41.064 109.218 1,055 12.352) 1110,833) Workini e*pltal adJryJtmeDts D¢cre8sellincreAse) in.￿￿kS Decrea%ellin¢rrasel in dcl* Incre4se in ￿editOrS 18 19 20 Il851 133.6451 ,746 10.239 9.147 Net cash flow5 from operatin8 aciiviues C*sh flows from InvestlDg Ittfvltl Intertst receivabl¢ 8nd.4imilaT Lncome Purchase of tanwbl¢ fjxed assets Sale of inv&s[m￿ts 17.140 135917 390 {7.2601 21 16 Net Lash flows frorn inv&stin8 aciiviiies (6.867) Cash flows frottk flthantlll% g¢tlvld InlcrLst payablc and Simil￿ char8&4 Net jnueas61dttrc￿I in And osh LxwLvai￿ts Cash and Lash equiv4lcnts at l April Cath And cA8h tyuivalcnts at 31 Mtyrth 6.414 6.869 16,687 1142,1571 275,055 417.212 291.742 275,055 All of the flows are derived frthn c0niinuin8oper￿l(￿ durin8 the atrA)vc twy) p¢ri(vJ& Thenotts ￿ pa8e$ 13 to 26 forn ￿ inte￿] pthof thc5e fin8ncial Statem￿1& Pa8c 12 Hastings and Rother VoluntAry knoclatioD for the B]ind Notes lo Ihe Financial Statements for the Year Ended 31 March 2023 I Chgrlty stat The charity is limiitx4 by guarantc4 ino)rrmtyJ in England and Walcs. and o￿$¢qU￿1t1Y does no¢ havc 5harc capi￿. Eath of the trustcts is liable ty (x)ntrilNJte gn amow)i n(rt a¢eedin8 £1 toMwth thc arnount and 5dtlemeni dale. In the evemt iha( a d()nali£m is subicd ¢0 ¢l￿dItioN$ that requi￿ 8 level ofptrforman¢¢ by the charity before the thari LS cntitluj to the fund& the ittts)m¢ is d¢f(Yr¢d 8nd noL reco8nisal until ¢ithtr those Q￿ditIOnS ar¢ fvlly m¢t. or the fijifilmeni of those conditions is wholly ￿1th]n the wntrol of th¢ tharity and it 1$ proEqlJ¢ that th¢s¢ ￿ndItIOnS will be fi]IfJlled in the rcrx)rtin8 pericd. Le8Acy gifts are reo)Bnised on a case ty case t*Si.8 follo￿7n8 the 8rant of pthte the odministr&(orlexttuic¢ for the tst4ie ha5 communicgttsj Èn uritin8 knth ihe am(xJnt And settlemeni dale. In the ￿'ent thai the sift 1.4 in the fom of an ￿tI other than e4th ￿ a financi￿ assd trad￿ a rets)8nised S￿d[ exchang< TCcO8nit1(￿ 15 5ubjcct to the value of the gifi trKing reliably Me￿￿b[C vith a degree of reas(fflable acojracy and the tille to the a5SCt having been transferrvj ¢0 the chariLy. Grnttts iectlvobie Cirants arc recogni5ed when the charity h&8 an ￿lI￿£M￿l io the fvnds ond 8ny ¢wdition$ link4yJ io the grants haiie cn mei. Where pcrfoTmanL% amdilions are auathul to th¢ gwt and areyrf (o m¢L the inwmr is recognisd as a liability and included the to]an¢esh¢d as d¢f￿r0 incrync to b¢ r¢lw¢d. Intcrest on fund5 held on dernsii is includaj Mthen r￿lI?b1¢ and the 8mowit can be mwured reliably ty. the chaTi¢y, this is nomialty up)n noiificaiicm of the In￿ll￿ paid Ir payable by the bgnk.thvidends arc rceognised once the dividend has tr*en de£lgredgnd notifiLalI￿ h&%betn reLe1V￿ of the (tividalddue. Page 14 Hastings and Roth¢r Volunlary A&wciation for the Blind Notes ¢0 ¢he Financial Statements for the Y￿r Ended 31 March 2023 ChaTllqble acdvldeJ Charitable a¢tlViLies include Heal¢y H￿Se Ttsidentsl h¢xn< J(thn Taplin day centr4 club5 and othtr suv1￿. Exptlldliure All expendi￿re is rwogni8ts1 once there Is a le8￿ cff ￿lS￿￿1Ve obli8aiion to that txwditure. it is proFAble s¢ul#n¢nt is required and the aM￿￿t can be measured re]iaNy. All costs are all￿ted to the applicable expendilUIt headin8 that a88rc8atC similar CL&5 to ￿tegory. Whcre w5ts Cann￿ dircLtly attr1E￿Ied to particu18r he4din85 they have E¢cn allocated a E4sis ￿￿$]Sten1 ivith the use of reg)urces, wth Centr￿ staff costs allocated on the basis of time spenL and thprecia¢i(n charges aJloc8ted cm the p)rticffi of the assd's use. support costs are all(Kated b4sed on rhe spread of siaff CCOL5. All r&Sourc￿ &YpendtsJ we inclusive ofirrecovttthe VAT. Th¢s¢ 4r¢ wsts In￿Trts￿ in 8ttraLtin8 voluntary inLYm¢ the mana8ernenL of invesiments and those in¢wnvJ in tr8din8 activiti￿ ihat raise fijnds. Charllableactlvlll Charitable exp￿diture ¢omkfiS¢S thcoe ci6ts in￿r[￿l by the tharity in the deliw of its 8diwties and 8ervi¢&8 for its beneficiaries. Tl in¢ludc5 tdh that allO￿ted dÉroxly to suth activities and th05¢ L¥)Jts of an indir￿¢ nlltu￿ necessary to supp)ri them. Governance costs These include the ec6ts aitribJ¢able ￿ the ¢harity's compliance Mith cortrstitutional and ststutory requirements, includin8 audi4 sir8tc8ic mana8emcnt and trustees's mtttin8s and re]M￿rsal cxpcm5ts. Irrecoverable VA T IrrcwvLY2hle VAT is thorie)J a8ainA the L*¢8￿Y of resrfijrces expen&d for thith 1tH￿ intyjrroj. Taxntio Th¢ charity 1$ con5idcred to rAss the iUL8 in Poragr4th 1 .SthgJul¢ 6 of the Finonc¢ A¢t 2010 and thtrcfore it meets the drrinlu￿ of 4 tharithbie company for UK Ciwali￿ lax purposes. Acc4)rdsn8ly. the charity is poteniially exempt from tsxatirm in re5PeCt of income or ¢api¢al gain5 Tettived ￿1th1n catcgorias cth'ercd chapt￿ 3 Part I I of the CiYp)rati(M Tax ALt 2010 256 of the TAxatiM of Ch&rge4ble Cjains Act 1992. to the extent that such in(k)me (* gains are applied exdusivety w th8riwtle purp)5 T*llglble fixed gssets Individual fix￿ as5¢ts ￿$ting £l.¢KK) or mtte are initially rttordcd al LDSL less any sutrwuent ac¢umulat4J dcpTeciati(m and Sutr￿¢￿t &C￿mu1a1cd impaimMi It￿$. The cost of the land includoj in thcbalancc shcct notdcw¢ciatrd 15 £284:938. Page 15 Hastings gnd Rolher Voluntary Association for Ihe Blind Notes to the Financial Slat¢m¢Dts for the Year Ended 31 March 2023 Depreclatldtt •thortls*do DepreLlatiixi ss wotrided on tdngible fixed a8sets so as to WTi*off the valuatiiy4 less any ¢stIM#￿ rtsiduai value, OWLY thcir ex￿ u5cfvI LX