The Trustees, who are also the directors of the company, present their report and the financial statements of the charity 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 Memorandum and Articles of Association, the Companies Act 2006 and “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 2015)”. ## **Strategic report** This report describes our strategic direction, information on significant activities, and general information in relation to our operational priorities. ## **Objectives & Activities** ## Charity overview & objectives The year 2021/22 has been notable for the challenges we have faced in relation to the continuation of the Covid-19 pandemic, which has had a direct impact on how we have delivered services but also on the financial support we have needed to use to protect these services through critical times. The year has also seen changes within our leadership team with the charity welcoming a new Chair, Martin O’Rourke , in March 2021, and a number of new Trustees following our merger with Bradbury Fields. These new Trustees bring with them significant skills and experience to CBI which will enable us to focus on new opportunities and explore improvements in efficiency and effectiveness. CBI was founded in 1841 with the stated charitable objective to provide for the needs of local blind people of all ages in the Liverpool area, providing a place of education and living to children and a home and place of work for adults who were all seriously affected by visual impairment. Today, our Vision is “Fulfilment, security and dignity for all”, and our mission is to be the lead deliverer of educational, rehabilitation and care services in the UK, creating widely recognised centres of excellence, and providing class-leading services. CBI place a strong emphasis on partnership working and we are proud to work with Blind Veterans UK, Bradbury Fields, Liverpool Hope University, Sight Box Trust, Liverpool John Moores University, International Eye Foundation, Rotary, Lions Club International and others. ## Activities We now operate from three sites in Liverpool. St. Vincent’s is a specialist school for children with sensory impairment and other disabilities and provides these services to between 40 and 50 pupils but has capability to accommodate up to 60 with existing staffing structure. Christopher Grange is a nursing and residential home whose primary aim is to ensure it is truly a home for up to 100 people that live there. In October 2021, following a robust consultation and due diligence process, CBI extended our service provision through a merger with Bradbury Fields. This merger has enabled CBI to meet one of it’s strategic growth objectives by enabling us to provide a greater portfolio of community based services for the Visually Impaired community. Staff and assets from Bradbury Fields were transferred to CBI. Our Bradbury Fields community services deliver rehabilitation services, information and advocacy, peer support groups, and ECLO services to support and enhance the health and well-being of up to 1000 people with Visual Impairments in Liverpool and surrounding areas. We look forward to further developing these services in the coming years, and embracing opportunities for harnessing organisational synergies. We continue to develop partnerships to provide a Sight Loss Learning Hub at the Christopher Grange site, where those adults who develop visual impairment in later life can learn and implement new skills to assist them in managing their lives in their changed circumstances. This service now fall within the operations of the Bradbury Fields division. ## Strategic themes Our Strategy remains to focus on delivering a positive impact and benefits for people accessing our services and the wider community we serve, and we continue to be guided by this. Strategic themes identified were: - Building effective partnerships - Encouraging and enabling innovation - Service development through co-production - Ensuring effective governance - Providing the best facilities - Building effective teams and systems ## Business reporting systems During the year we have redesigned our finance function to outsource payroll activities, and to further develop our business support capabilities, the charity has also invested in securing the services of an external HR advisor to ensure staff contracts, policies, training and support are robust and provide the proper support for our valued staff. The merger with Bradbury Fields has resulted in running 2 separate Accounting Systems in the short to medium term as CBI operates using Pegasus-Opera and Bradbury use Sage 50. The plan is to review this situation and move to one solution going forward to simplify the process. ## Covid-19 2021/22 has, like the previous year, been significantly shaped by the Covid-19 pandemic, and the charity (as a provider of school services, community services and residential care) has seen a significant impact on our operations. Throughout the pandemic, the charity has complied with all official guidance and regulations across all areas of our operations, and has provided continued services throughout the year in extremely challenging circumstances. All working areas, sites and facilities have provided Covid secure environments for our staff to work in, and for our service users. Our focus has always been how can we continue to deliver the best possible services for the individuals and communities we serve. Covid responses and impact in each operational division are outlined later in this document, but naturally it has had a significant impact on the wider charity’s financial position, and presented significant operational challenges to overcome. The charity has experienced a measurable negative impact on our income, with occupancy levels at the Christopher Grange care home significantly down for a second successive year; and ancillary income from tenants renting CBI premises and using facilities (e.g. swimming pool) also significantly reduced. The charity views these income reductions as pandemic specific, and not representative of a structural, long term downward shift in demand. As such, the charity has supported on-going provision in the short to medium term whilst expecting demand to rebuild as restrictions ease. The charity has worked to mitigate the financial challenges through the accessing of support grants where available, enacting staffing reviews, and by continue to focus on the growth of pupil numbers at St Vincent’s(as the school has remained fully open throughout the pandemic.) Whilst occupancy in Christopher Grange has started to increase again they are still substantially below required levels, and cost of staff and other operational costs have continued to increase, the income from Local Government has risen only slightly. This has led to the persistent need to draw on reserves to support the charity throughout the year. The effects of Covid-19 in terms of reduced care home occupancy, limitations on site access and the depletion of our investment portfolio will have lasting effects and take time to recover, and this will influence service development decisions as we move out of the pandemic. To this end a sub-committee of the board of Trustees, the Future Planning Group, has been established to ensure trustee and executive focus is sustained on these issues. Whilst the Medium to long term strategy remains to provide the positive impact and benefits for people accessing our services a thorough review of each Charitable objective is ongoing to ensure we have a sustainable future in each area. ## **Operational activities, achievements and performance** St Vincent’s - St. Vincent’s School is a non-maintained school offering day, residential and extended day placements on a weekly basis to children aged 4 to 19 years. The School is recognised nationally as a specialist school for children with sensory impairment and other needs. It currently has 46 children on the roll (43; 2021) with diverse backgrounds, religions and abilities and the school attracts pupils from across the UK. Pupils’ education is financed by fees paid by their local authorities and the Education Funding Agency. They are supported by a dedicated team of teachers and care givers, and the School has achieved a number of “outstanding” and “good” OFSTED awards in recent years. The school is recognised at a local, regional, national and international level for its curriculum, enrichment programmes, and the holistic pupil-centred approach to learning. Over the last 5 years this number has grown from 32 pupils. This approach has attracted significant public and professional recognition, with pupils and staff from the school appearing on regional and national TV and radio, celebrating the work that we do and the positive impact of that work. The school has also been awarded a Silver medal in the Pearson’s Awards (a national award recognising educational excellence) for “Impact Through Partnerships”, and our Deputy Head, David Swanston, being recognised with a top 10 placing in the Global Teacher Award for Best Teacher. During the Covid-19 pandemic the school has remained physically open. During this time, significant adaptations were made to enable remote learning provision for our pupils, and upon re-opening a Covid secure learning environment has been provided for all pupils and staff, with appropriate PPE, testing, infection control protocols and staff vaccinations. Whilst showing a deficit of £127K in the current year, the continuing trend of increasing pupils, coupled with the return of Pool Hire income and various restructuring opportunities should see this move towards break even or a slight surplus next year, with growth potential in Post 19 education improving numbers further ongoing. The number of UK residents with a visual impairment is expected to rise from 2,2m to 2,7m over the next 7 years. On Merseyside these numbers are expected to rise from 48K to 55K in the same time frame. Christopher Grange - Traditionally, Christopher Grange provided a home for adults with visual impairment, to enable them to live as independently as possible. We have built from this foundation over a number of years to develop and grow our community, and today many of our residents do not have sight loss. The Grange now caters for anyone needing residential or nursing care. It has a large chapel on site that is well used by staff and residents, as well as a community of the Daughters of Charity. The Daughters provide spiritual and counselling support to residents, their families and staff and are at the heart of our community. The Covid-19 pandemic has presented significant challenges for all providers of residential and nursing care during this reporting period, and Christopher Grange is no exception. Throughout the year we have liaised with Health and Social Care bodies, local and national government, and commissioners to enable us to focus on the safety and well-being of our residents and staff. Restrictions on in-person visits for residents and families have been imposed on the care home sector, but Christopher Grange has taken considerable steps to help ease any negative impact through a number of practical actions, including investment in Wi-Fi capacity and electronic equipment to facilitate virtual visits; enabling visits within the grounds when allowed; using Covid-secure “pods” to enable interior visits; robust testing protocols; the implementation of Government approved covid secure work practices; and an extensive vaccination programme for residents and staff. Events such as our annual “Light up a life” celebration were able to go ahead, however, we look forward to the further easing of restrictions so we can welcome more visitors and outward-facing activities as it is safe to do so. Occupancy levels have been significantly impacted with resident numbers falling from 74 at the end of March 2021 to a low of 58 at its lowest point. The number of residents at 31 March 2022 was 72. Significant efforts continue to be made to rebuild occupancy numbers in a sustainable manner. Financially the Care Home made a Deficit of £418K in the year, driven by the occupancy challenge along with rising Costs of Staff and Agency workers. At the time of writing this loss has continued to increase due to ongoing occupancy issues and staffing and agency costs. ## Bradbury Fields Prior to 1[st] October 2021, The Bradbury Fields division of The Catholic Blind Institute operated as a separate charity. The Bradbury Fields vision is for a world in which those people living with sensory loss can flourish. Our mission is to enhance the quality of life and promote the health and wellbeing of people living with sensory loss. The specific activities to help deliver our vision and objectives are as follows: - To provide a range of advice and rehabilitation services for blind and partially sighted people - To provide a range of opportunities to support blind and partially sighted people to access health, wellbeing, leisure and daily living services - To provide better services for the prevention of blindness for blind and partially sighted people by campaigning both locally and nationally The strategies employed to achieve the charity's objectives during the year were to: - 1. Secure long-term funding from local authorities/Health bodies 2. Promote volunteering across the organization 3. Promote legacies and trusts 4. Maximize the income potential of the Bradbury Centre The trustees have referred to the advice contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives, and when planning future activities. The trustees have considered the specific public benefit guidance relating to the advancement of health, and the relief of those in need by reason of disability. During the six-month period in which services were provided as part of the wider postmerger charity, we have continued to offer a first-class service to our many service users, albeit in the face of increasingly tight financial circumstances. We have done this through providing support at the point of diagnosis within our hospitals; through the Sessional Rehabilitation Support in teaching new skills and encouraging confidence building; through the delivery of Active Vision Social Clubs and providing both individual and group support through our Be Active service to break the sense of isolation and loneliness. Our emphasis always is around health and wellbeing support. Due to the fantastic support of funders during the pandemic, the Bradbury Field division of the Charity entered the post- merger period on a sound footing, We have been able to s t i l l provide such excellent services due t o a large e x t e n t b y t h e wonderful support we received from several trust funders during the pandemic. Thanks go to The Steve Morgan Foundation, The National Lottery, Thomas Pocklington and West Derby Wastelands. Additionally, a collective thank you goes to all of our other funders who have helped us maintain Bradbury Fields through this challenging period your support is immense. Key partners including Liverpool City Council and Knowsley Council have, through their commissioners been extremely supportive during the period, which has enabled us to continue to meet the requirements of our statutory contracts. We would also like to thank the many community supporters, whose contributions are never taken for granted; they are so valuable to us. ------------------------------------------------------------------------------------------------------------ Our activities are many some of which are listed below together with Statistics covering the period 1[st] April 2021 to 31[st] March 2022: ACTIVITY NUMBER Adult Referrals 836 Children's Referrals 41 Adult Assessments 578 Children's assessments (Knowsley) 12 Adult rehabilitation sessions 1,875 Children's rehabilitation sessions (Knowsley) 73 Equipment issued to adults 1,091 Equipment issued to children 5 Benefits support (Liverpool): Number of people 72 Benefits total impact on annual income (Liverpool) £275,459 Number of people supported by ECLOs at St Pauls & Aintree 1,317 During the year our social events were still being affected by the pandemic, and we were still coming out of lockdown. From April to June 2021, we had a number of chat rooms in place in order to provide an alternative service with the aim of reducing social isolation. Average weekly attendance at each were: Active Vision – 40 (took place 3 times per week) History chat room – 17 (took place once per week) Music / singalong chat room – 13 (took place once per week) From July to September 2021, we started to bring people back on site. Active vision club’s average attendance per week started at 28 (for 2 sessions per week) but increased to 44 attendees per week when we increased sessions to 4 times per week. From October 2021 to March 2022 average number attending various groups was: Active vision clubs 49 (numbers attending each session was limited initially due to Covid but then we started to increase those numbers History Chat room 10 per week, although some who once attended that had now started to attend the clubs in person Evening Quiz chat room 20 per week It is difficult to properly quantify other activities that were going on as there was a transition during this period from chat rooms to activities taking place face to face. Our visual awareness training began again post lockdown and this remains a service that people find extremely useful, educational and fulfilling. Due to the fabulous staff and volunteers, we have, and the board of Trustees would like to thank all those who work for us either as paid staff or volunteers. We want them to know how hugely valued they are by the Board of Trustees and, indeed, by our service users. We strive for an ethos of continual improvement. We focus on learning from both positive and negative experiences alike. As a division we are adjusting to a “post-Covid” world and the longstanding impact that Covid19 has had and will continue to have on the lives of blind and partially sighted people. We aim to enhance our offer for: - Sports and physical activities - Learning and volunteering opportunities - Peer and social support groups - Assistive technology training - Use of both mainstream and specialist smart and communication technology Not only do we want to offer a sensory loss service that is sector-leading, we want our centre to be busy, vibrant and bustling with energy and we want to be engaging with service users within community settings too. We believe we can extend our services with activities reaching far and wide across our local community working collaboratively with like-minded people and organisations. We are committed to working efficiently and ensuring best value at all times. Local visually impaired people can rest assured that our priority is to do what we can to improve their `lives. . ## Financial Review The financial results for the year can be seen on pages -- to -- Catholic Blind Institute is a charity whose aim is to provide the highest quality services possible whilst striving to reach more people where we know we can add value and improve lives. By providing those services in a financially sustainable way it is able to use any additional funding it can obtain to improve services beyond the minimum that government finance might provide in order to add to the general well-being of those it supports. The appearance that our charity is financially wealthy is deceptive. Careful and prudent management of the charity over many years has enabled us to establish a firm financial footing and minimise risk during recent difficult times. The Charity has a very long lease on land, and it owns the buildings from which its services are delivered. It is free of long-term debt. The Charity also has responsibility for a defined benefit pension scheme. Details of this can be found in the notes to the financial statements. The Charity also has a portfolio of financial investments that has been built up over many decades and which provides some long-term financial security. It has been a lifeline in recent years even more so over the past year. Our main source of income continues to be local government in the form of fees for residential and nursing care, visual rehabilitation and the education of our children and young people. Like many others, we must challenge the level of those fees as the needs of residents in Grange in particular become more complex. This long-standing sector wide funding challenge has been put into even sharper focus as we have faced the enormous demands placed upon care providers by the Covid-19 pandemic which has escalated costs whilst simultaneously eroding alternative streams of income generation. The provision of residential care requires long-term capital investment and commitment. Catholic Blind Institute will engage with all relevant partners to seek appropriate funding levels to enable the continued development of sustainable services recognised for their quality and innovation. Care homes cannot be established and closed simply to meet short term demand, as this is contrary to their nature of providing a ‘home’ to their residents. Respecting the dignity of those whom we house is one of the highest priorities of the Charity’s work. We face similar difficulties in the provision of education to our children. Many schools providing special educational facilities have closed. The policy of ‘inclusion’, by which local authorities have attempted to provide for children with special needs within mainstream schools, has resulted in many specialist schools becoming non-viable due to falling pupil numbers. The number of pupils attending St. Vincent’s has reversed this trend this year with pupil numbers increasing from 37 to 43 and a number of enquiries on progress which we expect to add to our numbers by the start of the next academic year. Budgetary constraints mean that it is a constant struggle to persuade local authorities that certain children receive a better chance in life through education at centres of excellence like St. Vincent’s than they would in mainstream education, simply because appropriate resources can be concentrated in one place. In view of the on-going pressures on statutory funders and the impact this could have on the charity, the trustees are considering how best to diversify their income streams and generate more independent income to offer a broader range of support. This year we are reporting a deficit at the operating level of £959,672 (excluding a positive transfer of assets from Bradbury Fields of £1,076,813). Movements in our investment assets in the 12-month period under review has reduced this deficit by £110,483. In addition, following the FRS102 valuation of the defined benefit scheme a loss of £47k has been included in the provision for the year. Our investment portfolio is not an asset surplus to our requirements as a charity but an essential safety net, during the year over £700k in cash was withdrawn from the fund to support the operations of the charity due to the financial effect of Covid 19. It has the dual purpose of providing us with a regular income and of being available to allow trustees to make strategic decisions around funding shortfalls. At a value of £1.66 million at 31 March 2022, it represents less than 6 months of the income of the charity. Without it, we would be accumulating debts and the longer-term viability of the charity in its current form would be in serious doubt. The trustees believe that the existence of that portfolio is essential to the viability of the charity and the preservation of the services we provide. As at 31 March 2022, the charity had reserves of £5,991,258 (2021: £5,810,273). Included within these reserves are £125,210 (2021: £125,210) of restricted funds (see note 23) and £3,596,418 (2021: £2,829,069) of designated funds (see note 24) which total the fixed assets of the charity. Included in unrestricted funds are investments totalling £1,658,092 (2021: £2,427,721). These funds can only be realised upon sale of these assets. The charity had free reserves of £484,185 (before adding the provision for the pension scheme) at 31 March 2021 (2021: £293,274). ## Looking ahead- Plan for the future CBI continue to work towards attracting further key partners onto our site: these must directly benefit our children and young people and our ambitions to offer them real life employment opportunities. The nursery on site continues to grow, and raises the profile of St Vincent’s in the wider local community. The Community Café is a busy hub used by local residents, staff, parents and visitors to the site. The Lodge focuses on promoting health and well-being of our local community. During the Covid-19 pandemic, and subsequent lockdown we have seen an impact on the operations of some of our tenant organisations, and CBI has put in place measures, including flexibility on rent payments, to help those businesses remain sustainable during this extra-ordinary time. As part of the sustainability exercise we are reviewing whether these partnerships remain feasible. Due to the ongoing situation within the Care Sector and continued pressure on Local Government funding, the Future Planning Group is focussing on evaluating options to ensure sustainability ## These include; -review consolidating services onto a single site to release asset value into cash reserves -exit Care Sector and sell Christopher Grange as going concern to other Care providers. -focus charity on services for Visual and other sensory services -strategic partnerships with other charities. -re-branding to include potential name change -3 year financial plan to determine direction in these options The charity will continue to be guided by the strategic themes and impact priorities identified above.. By focusing on these areas, CBI will deliver high quality, sustainable services for people of all ages within our community. CBI will support the operational divisions in delivering enhanced services by raising our public profile and developing strategic networks and partnerships; proactively developing our board of trustees with on-going skills analysis; the development of an improved promotional resource including name and branding review and social media presence; and by exploring opportunities to develop our extensive site and maximise return on property assets. Charity registration number 1102657 Company rtglslrnlion number 5010874 (England and Vlo19$1 CATHOLIC BLIND INSTITUTE COMPANY LIMITED BY GUARANTEE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 CATHOLIC BLIND INSTITUTE COMPANY LIMITED BY GUARANTEE LEGAL AND ADMINISTRATIVE INFORMATION Trusté•s Mr M G O'Routhe Mr S Wnslanley Mfs G Bounds Mr E Murphy Mr R Phillip$ Mr W T M Roberts Mr M Scanlan MrA Nawaz Ms B Bu¢kl& (Appointed B Novèmber 20211 IAppointed 8 Novembgr 20211 IAppointed 8 November 20211 IAppointed 8 November 2021) (Appointed 20 June 20221 (Appoinled 14 November 20221 Str¢r•tsry Mrs S Robertson Mf5 S Hayès (Resigned 11 July 20221 (Appointad 11 July 20221 Chlèt Ex•¢utfv• Offi¢•r Mr R A Bifchal MT P Tottsy IResigned 24 June 20221 {Appointed 13 Juty 2022 and fesigned 16 September 20221 (Appoinled 16 September 20221 (Appointed 16 Seplember 20221 Mr J Dawson Mr R Robin% Charbty number 1102657 Company numb•r $010874 R•9lst•r•d offle• Sl VirKenl's School Yow Tfee Lanè Li¥ewl L12 9HN Aydltor BW Tempesl Surte 5.1 12 fAhebam Street LNerpool L2 2DT Bank•rs Lk)yds Bank plc Liverpool Law Courts Merthants Court 2-12 Lofd Sireel Liverptsol L2 1TS Invèstment •dvi$or Rathbones Port of LIVerw￿ Buikling Pier Head Liverpts L3 1BW CATHOLIC BLIND INSTITUTE COMPANY LIMITED BY GUARANTEE CONTENTS Pag• Trustees. report Statem&nl of trustees. iespon$ibilrties 12 Intjtrpendenl audrtofs r•port 13-16 Slalèment ol finanoal a¢tryit*s 17-18 Balance shegl 19 Slatem8nt of cash flows 20 Noles to th8 finanoal slalemenls 21-46 CATHOLIC BLIND INSTITUTE COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2022 The trustees, who are also the directors ol Ihe Company, present their rewl and financial statements foc Ihe year endèd 31 March 2022. The financial slalemenls havè been prèpared in accordance wrth the accounting policie5 sel out in note 1 to the financial staternen15 and cornp￿ with Ihe tharrtfs governing document. the Companies Act 2006 and "Accounting anij Reporiing by Charilies." Slalemenl ol Recommended Practice applicable lo chanties preparing their accounts in a¢cordance with Ihe Financial Reporting Stsndafd applicab* in the UK and RepU￿1C of Irelanty IFRS 1021" 19￿CtIve 1 January 20191. Strat•gle mport This rèport describes our slrategic direction. bn1ornal￿) on $i9nfficant actNilies. and gen&ral infonnation In relation lo oui optrabtsnal pnoriligs. Oblectl¥e• and activiti The year 2021122 has bten notable lor Ihe chaNenges we have fa¢od in relab'on to Ihe contsrtualion ol the Covid-19 pandemic. which has had a diie¢l impact on how we have delivefed serv￿S bul also on the financial support we have needed to use to protect these servi¢es through cwitical tsmes. Tha year has also seen thanges wthin our lèadership team with the ¢hanly welcoming a n?w Chair. Martin O'Rourke, in March 2021. and a number ol new Tfustees followng our merger with Bradbury Fields. Thesè new TfUSte8s bring wrth them signffjcant skills and experiencè to CBI which will enable us lo focu5 on new opportunities and gxplore improvem•nts in efficiency and effectwene$$. CBI w8$ founded in 1841 with the stated chari18ble obj¢¢tive to provide for Ihe needs ol local blind people of all ages in the Livefpool area, prowdin9 a place ol education and living to children and a home and place of work lor adutts were all ￿rIoU* aff•ct9d by visual impairment. Today. our Vision is "Futhlment, S6cunty and dignty for air, and our mission 15 to be tha lead deliverer ol èducational, feh8bilrtation and ￿re $èrvic*s in Ihè UK. ¢r¢aling wthty recognised centres ol excellence. and providing ¢lass•leadsng s•rviw. CBI place a Strong emphasis on partne￿hip woth'ng and we are proud lo work wrth Blind Veleians UK. Liverpool Hope Universily, Sighl Box Twsl, Lwfpool John Moore5 Universty. InleMat￿)naI Eye Foundation, Rotary. Lions Club Inlemalional and othefs. now operate from three siles in Liverpool. St. Mncent's is a specialist s¢hool for children with sensory impairment and other disabililies and provHles Ihese semces to behyeen 40 arbd 50 pupils bul has capability lo ac¢ommodatè up to 80 with exisknng staffing stnKture. Christopher Grange 1$ a nufsing and r8sidential home whose primary aim is to ensure it is truly a home for up lo 100 people that live Ihere. In October 2021. I￿[0w1n9 a robusl Consurtation and due dil￿en¢t pio¢èss, CBI exlended our serwce provision through a merger with Bradbury Fields. This rne￿er has enabled CBI lo meèt one ol it's strategic growth objectives by enabling us to prowde a greater portlolio of community based SèMCèS lof the Visually Impaired community. Staff and assels from Bfadbury Fiehls were transferred to CBI. Our Bradbury Fields communty serwces deliver rèhabilitatKJn ser¥icks. informaliDn and advocacy. peer support yroups, and ECLO servi￿S Io stipport and enhance Ihe heath and welkbw.ng of up to lo￿ people with Visual Impaimènts in Liverpool and surrounding areas. Vve look forward to lurther devek*ping these seN¢e$ in Ihe coming years. and embracing opportuniti'es for harnessing organisat￿nal synergies. CATHOLIC BLIND INSTITUTE COMPANY LIMITED BY GUARANTEE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) (CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 We continue lo develop partnèrships to prowde a Sight Loss Leaming Hub at the Christopher Grange sile. where those adults who develop visual impairment in later life can leam and implement new skills to assist them in managing their lives in thèir changed arcumslance5. This servKe now falls within the operations of the Bradbury Fidd$ (IiviSK*n. ic them Our Slrategy remains lo focus on delivering a posrtive impact and be￿fitS for paopk accessing our semces and the wider community w8 serve. and we continue lo be guided by this. Strategic Ih8m&s identffied were.. Building effecti￿ partnerships Encouragin9 and enabling innovalk)n Service devekjpment thrcwgh Cowproduction Ensuring effecb'v& 9ovemarKe Providing the b&81 lacilrt*s Buil¢Jing effective teams and 8yStems sin Dyring the yaar w¥ have redesigned our finarKe function to {MAsour￿ payrol acl1wt￿$. and to lurth•f dgvèlop our business support ¢8pabililies. Ihe charity has also invesled in se¢unng the services of an 8xternal HR advisor Its ensure staff contracts, policies, training and support are robusl an*J provmle the proper support lor our valued 51all. The m8rg8r with Bradbury Fitkls has resuhed in wfining 2 separate Accounting Systems in the shori lo medium term as C85 operates usin9 Pegasus-opera and Bradbury use Sage 50. Th• plan is lo review this silualion and move lo one solution going lorwafd to simplify the process. 2021122 has, lik• the previous y•ar. ￿en s￿n￿1cantty shaped by the Cowd-19 pand8mic, and th& ¢harity las a provider ol school semces, communty services and residen1￿ carel has seen a $ignifi¢anl impact on our operations. Throughout the pandemi¢, the charity has complied wrth all Offici￿ guidance and r¢gulalions across all areas of our operation5. and has provided continued seNicès throughout the year in extrernety challenging clrcumstances. All working areas, sites and faoli1￿$ have prowded Covid secure enwronmenls lor our staff lo work in. and for our service users. Our focus has a￿ayS been how ran we continue to delNer ihe best Possible servicas lof the individuals and communi1*5 we serve. Covid responses and Mnpact in each oper8lional dibision are oullined laler in this document, but naturalty il ha$ had a significanl impa¢t on the wder charty'5 f￿an￿al poSit￿n, and presented s￿n￿can1 op8rational cha#enge$ lo overcome. The chafity has experienced a me8surabte negatNe impad on our income. with occupaney levels al the Christopher Grange care home 5ignthcantly drywrs lor a second suc¢essNe year.. and ancillary income from tenant5 renting CBI premise$ 8nd using facilities le.g. swimming pool) also significantly reduced. Thè Ghaiity view5 Ihe5e income reductions a5 pandemic speafic. and nol represenlaknve ol a 5tFuclural. long tem downward shift in demand. As such. thè charity has support¢d oTrgoing provision in the short lo medium lemi whilst &xpects"ng demand to rebuild a5 restrictions ease. CATHOLIC BLIND INSTITUTE COMPANY LIMITED BY GUARANTEE TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 The charity has worked lo mrtbgate Ihe finanaal thallenges through the accessin9 of support grants wheTe available, enacting 51affing rewew5, and by Continuing to focus on the growth ol pupil numbers at St Vincent's la5 the $¢hool has remained lully open Ihroughout thè pandém￿.) thilst ocujpancy in Christopher Grangè has started to increase again they are slill substantialty below required levels. and cosl ol staff and olher operalbonal costs have continued lo increase, the income from Local Governrnenl has risèn onty slightly. This has led lo the persislent need lo draw on rgsèms to support Ihe charity throughoul the year. The effecls of Covid-19 in temis ol red(￿d Ca￿ home occupancy. limrtations on sile access and the d&pletion of our investment portfolio will havè lastin9 effects and take time lo rec¢Jver. and this will influence serwce development decisions as we move out ol the pandèmic. To this end a s￿￿0mMrt1ee tsf the boafd of Trustees. the Fulurg Planning Group. has been established lo ensure truslee and execulive focus 15 sustained on these issues. ilst th8 medium to long term strategy remains lo provide the posrfive impact and benefit8 lor peopl& accessing our seMc8s a thorough review of each ChaIrta￿e tsbJectNe is Mgoing lo ensure we have a sustsinabla fulur8 in each aroa. Strategic rnport The desviplion und&r tha headings"Achievements and perf0mè￿- and"Finanfial review" meet the company law quiromenls for the Iruslees to present a strategic report. Achl•¥•m•nts Ind p•rfomwrt¢• l￿L,1. Sl. Vincenl'$ S¢hool 1$ a non-maintained Scho￿ offering day. resid¥ntial and extonded day placem&nts on a weekly basi5 to children aged 4 10 19 years. The School 15 recognised nationally as a specialist school for children with sensory Impaim)enl and olhei needs. It cjjrrenlty has 46 chsldren on ihe roll 143,. 20211 with divers¥ backgrounds. religion5 and abilNies and lh* schod attracls pupils from a(¥055 Ihe UK. Pupils, education is fin8n¢ed by fees paid by their local authorilies and the Eduealion Funding Agen￿. They are supported by a dedicaled team ol teachers and care givers. and the S¢h¢)ol ho$ a¢hi&ved a number ol"outslanding" and"9ood' OFSTED award5 in r¢c&nt yaars. The school 15 recognised al a bxal. r*9￿n31, national and intemalional level for rts curriculum, •nrichm•nt programmes, and the holistic puwkenlr*d approach to kaming. Over ihe last 5 years this number ha5 gr¢)wn from 32 pupds. This approach has attracted significant public and prolessional fewnAion, with pupi15 and slaff from th8 school app#8iing on regional and national TV and radio. celebrating Ihe work that w8 do and the p05ilive impact ol that work. The school ha$ also be•n awarded a Sifver medal in the Pearson's Awards la national award fecognising educational ex¢ellen¢el lor "Impact Through PaMner5hips". ¥nd oui Deputy Head, David Swanslon, bein9 cognised with a lop 10 plaong in ihe Global TeacherAward for 8esl Tea¢h•f. During the Cowd-19 pandèmic the school has remained physicalty open. During this time. signffjcant adaptations were made to enablè remote learning prow5ion for our pupi15. and upon re-opening a Covid se¢ure learning environment ha$ been provided for all puw'ls and staff. wilh appropriale PPE. t&sts'ng, infect￿n control PTOto¢ols and staff vac¢inalion$. Whilst showing a deficjt of £127K in the cuffent year. Ihe continuing trend of in¢reasing pupils. covpled with tha return of Pool Hire income and various reslTUCturing opportunilie5 should see thts move towards break even or slighl surplus nexl year, with growth polential in Post 19 education impTowng numbèrs further ongoing. The number of UK residents wrth a wsual impaiment is expected to rise from 2.2m lo 2.7m ovèr the next 7 ye8rs. On Merseyside these number5 ale èxpected to rise from 48K to 55K in the same time framè. CATHOLIC BLIND INSTITUTE COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) {CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2022 Christo her Gran è- Traditionally. Chrislophef Grange prowded a home for adums wrth ¥7sual impaimient, to enable them to li￿ as independenlty as possit4e. We have buirt from this foundation over a numbei ol years to develop and grow our community. and today many ol our rèsi(Jents do not havè swhl 1055. The Grange n¢)w cat&rs for anyon n*eding residential or nursing care. It has a large chapel on sile that is well used by staff and re51dent$. as well as a communty ol the Daughters of Chairty. The Daughters provide swlrtual and counselling support lo residen15. their farnilies and staff and are at the heart ol our communty. The Covid-19 pand¢mi¢ has presenled signrficant challenges lor all providers of residential and nursing care during this reportlll9 period. and Christopher Grange is no exception. Throu9hout the yèar wè hav8 liaised wrth Health and Social Care bodies, local and national govemment, and eommi$$ioners to enab￿ u$ lo 1o¢u$ on the safèty and welk being of Our residents and staff. Restrictions on in-person visits lor residènts and families have been imposed on Ihe care htsmtr secttsr. bul Christopher Grange has laken considèrabl¢ sleps lo help ease any negalwe impact through a nurnber of practical a¢lion5. including investment in Wi-Fi ¢apauty and electronic equipment to faulrtate virtual visits.. enabling visits within the grounds whèn allowed. COv￿-SecUre "pods" to enabk interior wsils". robusl testing prolocols.. the implementalion ol Govemmenl approved COV￿ seojre work practices.. and an extensive vaccination programme for residents and Slalf. Evènts such as our annual 'L￿h1 up a lrfe- celebration were able to go ahead. however. we look lomard lo the fvrth$r easing ol restrictions so we can wekome more wsitors and outsvard-faung activities ès rt Is sale lo do So. O¢¢upan¢y levels have b8en signtficantty impa¢ted wbth resident numbers lalh'ng from 74 al the end of Mar¢l12021 lo a low ol 58 at rts lowest poinl. The number tyf residents at 31 March 2022 wa5 72. Significant efforts continue lo be made to rebuild occupancy numbers in $ Sustsinable manner. Financially Ihe Care Homè mad& a defKJt 01 £418K in the year. driven by the orLupanry challenge along with rising Costs of Staff and Agency workers. At the timo of wnting Ihis loss has continued lo increase due lo ongoing occupancy is$ugs and staffing and ogerKy costs. Pilor lo Ilt October 2021. The Bradbury Fwld$ dMSiM of Th c01hd￿ Blind In8titule opeTated as a separale charity. The Bradbury Fields wsion is lor a world in which those pÈople h.wng wrth sensory loss ¢an flourish. Our misslon is lo enhance Ihe qualily ol lrfe and promotè the hèatth and wellbeing of peopk living wrth sen50ry105s. The spetrfic 8¢1ivilies to help deliver our Msion and objedives afe as lolkw5'. To prowd6 a ran99 of advKe and rehabilrtation 5eThir*s for blind and partial sighl8d people To provid• a range of opportunit￿9 to support ￿l￿d and partially S￿hlad p80pl• lo access health, Wgllbeing, Ifyi$U￿ and daity living serwce5 To provide better services lor Ihe pleveni￿n of blindness for bh'nd and partially Sighted people by campa￿ning both thalty and nalionamy The strategies ern￿oYed to achieve Ihe charilys Ob￿t￿eS during the yèar were lo." 1. Secure long-lerm funding from local authoriliesNealth bodies Promote volunteering a¢ross Ihe organizalion Promole legaa•s and tru$ls Maximize thè income polwrtial ol Ihe Bradbury Centre CATHOLIC BLIND INSTITUTE COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT IINCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Th• trustees havè felerred to the advice conlained in Ihe Chawty Commission's general guidance on public bene)7t when reviewing our aims and obj'ectives, and when planning luturtr aCti￿￿e$. The trustees havè conS￿ered the specthc public benefit guidance relatin9 to the ad¥ancefflenl of heaAh. and the relief of those in need by reason of disability. During the six-monlh ￿rIOd in which services were provided as part ol Ihe whler post.rnefger Gharity, we have continued lo offer a fifsI-¢lass servi¢e lo our many serwce users. albw"l in thè la￿ of increasingly tlght finanaal circumstances. We have done this through pro￿ding support al the point ol d*9nosis within our hosprtals." through the Sessional Rehabilitation Support in lea¢hin9 new skrfls and enctjuraging ¢onffidènc8 building., ¢hrou9h the delivery of Aciive Vision Soaal Club5 and prowdin9 bolh indiffldual and group support through our Be A¢tive service to break the sense of iwlalion and loneliness. Ow gmphasis a￿ayS is afound hearth and wellbeing Support. Du8 to the fantast￿ support of lund8rs during the pandemK. t￿ Bradbury F￿￿1 division of th& Charity entered thè post- m&r9er per*)d on a sound footing. have been aNe lo still prowde such excellenl serwces due lo a large extent by the wonderful support we Teceivtrd from s¢veral Irusl fundefs during lh• pande￿￿C. Thanks go lo The Steve Morgan Foyndaljon, The Nalional Lollery. Thoma$ Pocklinglon and Wesl Derby Wastelands. Addilionally. a collectivo thank you goes to all ol our other funders who have helped us m8intsin Bradbury Fields through this thallenging penod your support is immense. K•y partners indudin9 Lw•fpool City Council and Kntswsley Coun¢il have. through their ￿mmIssiOnerS been eytremely Supportive dunng the p•riod, whth ha5 enablèd us lo conbnue lo meet the requirement$ of our statlrtory contracts, W8 would also like lo thank the many eommunty supportgrs. whose contribulions •re n￿[ laken for granted, they are 50 valuable to U5. Our a¢tivsli•s are many some ol which are listed bekni together with Slabstics covering Ihe ￿n¢d 1 April 2021 to 31 March 2022., ACTIVITY NUMBER Adutt Referrals Children'$ Referrals Adult Asses5menls Children's assessments {KnOw￿*y) Adutt rehabilitation se$sion$ Childran's rehabiliialion $ess￿n$ (Knowsleyl Equipment issued lo Equipment issue¢J to children Benefits support ILiverpooll'. Number of people 72 Benefits total impacl on annual ineomè (Lwewll £275.459 Number ol peop￿ supported by ECLOS al St Pauls 8 1.317 Ainlree 836 41 578 12 1.875 73 1.091 CATHOLIC BLIND INSTITUTE COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) (CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 During Ihe year our soual events were still being affected by the pandemic, and we were $tsll ¢oming out of lockdown. From April to June 2021, we had a number of chat rooms in ￿ace in Of¢Jei lo prowde an altemative service wrth th• aim of reducing social isolats"on. Average weekly attendancè at èach were". Active Vtsion-40 (took place 3 t1￿$ per weekl History chal room- 17 (took pla¢e once per week) Musi¢ I singalong chat room- 13 Itook pla￿ on¢e per weekl From July to Seplember 2021, we started to bfing people back on sstè. Active wslon dub's average attendance per week started at 28 Ilor 2 sessions per w&ekl increased to 44 attendees per week when we increased sessions 10 4 times ￿r week. From October 202110 March 2022 average number attending various groups was.. Active vision dlsbs 49 Inumbers attending each s•swon was hmittsd inrtialty due to Cowd but then we Started lo in¢rease those numb&rs Hislory Chat room 10 per week. althou9h some who once attended that had now started lo attènd the clubs in person Evening Qutt ¢hal room 20 per we*k 11 is drfficutt lo properly quanlify other adivities that wore g￿n9 ¢)n as there was a iransrtion during this pgriod from chat rooms lo actiwlies ta￿'n9 pla¢¢ lace io farE. Our visual awareness trainin9 Wan again posl lockdown and this rèmains a sérvice that ￿0p19 find extrem&ly useful, educational and fulfillin9. C￿e lo the fabulous slaff and volunteers. we hav•, and the board of Trusiees wouhj like lo thank 811 those who work lor u5 eilher as paid stsff or volunteers. ￿ want them lo know hugety Valued they ar• by the Board of Twslees and, indeèd. by oui semce users. We strive for an ethos of continual improvemenl. We locus on kamin9 from both positive and negalive exp8Tiences alike. As a division we are adjusting lo a"post-Cowd" world and th8 ion9$tanding impact that Cowd-19 has had and will continue lo have on the Iwes ol bh'nd 8nd partialy sighted p￿p￿. fft aim lo enhance our offer for.. Sports and physical actiwlies Learning and volunleènng opportunrfi'es Peer and social support 9roup$ Assistive (echnolo9y Iraining Use of bolh mainstream and specialist smart and communicatK)n tethnobgy Not onty do we want to offer a sen50ry loss sarvi¢e Ihal 15 sectoT4eading. we wanl our ¢èntr¢ lo be busy. vibranl 8nd bustling with onèrgy and we want to be gn9aging wilh service users wrthin community settings loo. We believè we ran extend ouf services wrfh aclivities Teaching lar and wTrde across our local communily working collaborativèly wrth like-minded peoplè arml organisations. We are commrtled to working efficienlly and ensuring best value al all limes. Local visually impaired people can [¢$1 assured that our wiorty is to do wh81 we can lo improve their lives. CATHOLIC BLIND INSTITUTE COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Financial review The fin8nrJal resutts for the year can be seen on pages 15 10 17. Catholic Blind Institute is a charity whose aim is lo wowde the h￿hes1 qualty servi¢es possible whilst 51riving to reach more peop￿ where we know we can add value an¢J improve lives. By providin9 those sérvices in a financially sustainablè way it is ablè lo use any additional fvnding rt can obtain to improve services beyond the minimvm that governmenl finan¢e might provide ￿ order to add to the general welkbeing of those rt support5. The appearance thal our tharty is financially wealthy 1$ d￿pIlve. Careftl arbd prudent manag•m8nt of Ihe ¢harity over many years has enabled us to establish a firm finanoal looting and minim15e risk during recent difficult times. The Charity has a vèry long lease on land. and rt owns the buildings from whKh rts servKes are delIVe￿d. It 15 free of long-lèrm débt. Thè Charity also has responsibility for a defined benefrt pension scheme. Details ol this can be found In the rbOt&s lo the financial statements. The Charrty also has a portlolio ol ffinan￿aI investments Ihal has been blsitt vp over many dttades and which Pfov¥Jes some long-lerm finanual $ecJJrity. It has been ¥ lifeline in recent years even more sts over the past year. Our main source ol income continues lo be local go¥emment in the form of f•e5 for r¢*dèntial and nursing ¢ar¥, visual rehabilitation and the education of our chIld￿n and young people. Like many others, wè musl challenge the level ol those f8•s as Ihe needs ol res¢dents in Grange in particular become more complex. This lon*slanding se¢tor wide lun(Jing challenge has been put into even Sharper locus as we have laced lh¥ enormous demands plaefrd upon care providers by the co￿￿-19 pandem￿ which has escalated cos15 whilst simuttaneously eroding alt&mativè strèams ol income generalion. The provtsion ol r•s￿entIal care ￿qUireS lon9-iefm capital investment and ¢ommilmenl. Calholic Blind Institute will engage wrth all I¢￿vanI partners to seek appropriate lunding levels lo enable Iht ¢onlinued developmfrnt ol sustaina￿e services re¢ogni$èd for their qualrty and Innovalion. Care homes Cannot be established and ¢los8d simpty to meet short term demand. as Ihi$ is c￿nIrary to thetr nalufe ol providing 'home' lo Iheir residents. Respects'ng Ihe d￿nItY of those whom we house is one of the hightsl priorili&s of the Charity's worf¢. We fa¢9 similar (Jifficuhies in Ihe provision of education lo our childrèn. Many Schools prowding speaal educalional l¥¢ililies have closed. Thè policy ol'indusion.. by which local aulhorrties have altempled to prowdg for children with sp&¢ial n8eds within mainstream schools. has resulted in many speaalisl schoo15 bectsming non-viable due lo falling pupil numbers. The number ol pupils attending Si. Vin¢ent's has reversed this Irend this year wilh pupil numbers In¢rga$ing from 37 10 43 and a number of enquiiies on progrèss which we expect lo add lo our numbers by the start ol the nèxt acad•mic year. Budgetary conslraints mean Ihat rt is a constanl slrvg9le to persuade local authorities that certain ¢hildren receiv& a better chance in lrfe Ihrou9h èducatson al cenlres of &xcellence like St. Vincent's than they would in main$lr•am adl￿tIon, *'mWy be¢ause appropriate ￿￿urrE5 can b¢ conc•nlrated in one place. CATHOLIC BLIND INSTITUTE COMPANY LIMITED BY GUARANTEE TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 In view ol the on-gotng pressures on statutory funders and Ihe impact Ihis could hav$ on the charty. the liuslees are considering how best to dweT5fy their income slfeams and generate more independent incorne lo offer a broader range of support. This year we are rèporting a defiryl al the operating level of £956.760 (excluding a posrtive transfer ol assets from Bradbury F￿dS 01 £1.076.8131. Movements in our investment assets in the 12- month period under review ha5 reduced this defiril by £110.483. In addition. lollowing the FRS102 valuation ol thè defineij ￿nefit scheme a h)ss of£47k ha$ been induded in the promsbon for the year. Our investmenl portlolio is noi an asset surplus to our requirements as a charity but an essential safely net, during the year over £700k in cash was Wrthdrawn from the fund to support the operalK)ns of the charity due to the financial effect ol Covid 19. 11 has the dual purpose of providing us with a regular income and ol being available lo allow trtsslees lo make strategic decisions around funding shortfalls. At a value of £1.66 million at 31 IAarch 2022, il r•presents less than 6 months ol Ihe Fncome of Ihe charity. Wthoul rt. we woukl be accumulating dgbls and the longer.term viability ol the charity in 115 currenl form would be in seriou5 doubl. Th& tru$l8tr$ believe that the existence of that portlolio is ess&nlial lo the viability of the ¢hanty and the preservation of the S¢￿ceS we prowde. A$ 0131 Mafch 2022, the charity had resorves of £5.993.81D12021.' £5.810,2741. Induded within these resetyes ai• £155.273 12021. £125.210) ol restrKtèd lunds (see note 241 and £3.596,418 12021.. £2.828,8871 ol designated funds Isee nol¥ 251 which total the tangible fixed assels of th¢ charty. Induded in unr$slfi¢lèd funds are inveslmenls lotslling £1.658.092 12021. £2.427.7211. Thesè funtJ$ can onty be realised upon $8le ol these assets. The charity had fvee reserves of £486.737 Ibefore addin9 the fof p8n$ion s¢hemèl al 31 March 2022 12021.. £293.4561. R•8•pé•• poIIcy Rèserves are held by the Charty lo operale effedively. The Charrty's goveming doraJm8nl ¥xpli¢Jtly gives the trustees an expr•$$ legal power lo hold in¢m in reserve instead ol spending it prornplty. Th8 TfUStè8$ ¢onlinually review the Chanty $ requirements. Having conwdered the Charity'$ foreseeable liabilities, the Irustees Consider it appropriate lo hold reserves equivalent lo 6 months 0￿ratIng ¢0513 lo s•feguard th• Smooth operalion of the charity. howèvei this is not currently being al*￿ve￿. Inv•stm•nt pollcy The invèstmenl policy statement ol the tharity wa$ rwewed during the year. The objeclryes art.. 1. To a¢hieve a balancod c•lum from inc￿￿ and caprtal grtrlvlh while accepting a moderate degree of risk. 2. To maintain the real value ol income in order lo be eveTrhanded between present and fvture beneficiaries 3. To target income levels as relayed by Trn$lee$ 4. To maintain the real value of capital in OTder lo 2 and to potenbaHy tscllilale periodic capital wthdrawal lo assist wrth the devdopment of new and r￿vant chantable athities. CATHOLIC BLIND INSTITUTE COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Rlsk Management There are many areas of risk associated ￿1h thè Work of the charity. Respecting the human dignity of both those lo whom wè provide services, who are some of the mosl Vulnerab￿ in swety. and thosè who are employèd by the charity is one of our highest priorities. Trustees are aware ol and follow the Charity Commission's guidancè on safeguarding vulntrrabl* chibjren and adufts. The prO￿$10n of the besl services we can offer is another. whilst mindlul of the need lo keep cosls reasonable. In all things we musl find Ihe rNJhl balance ol risk and benefit, Wa must also guard against the risk of financial prO￿emS. The tharty reyw￿$ all areas of risk on a ￿gUlar basis. taking appropriale measures where possiblè to hmbt that risk. The pressures on $tstutory funding and the need to diversify thè income base is a cruual con*de¥alion. Our funding model is relianl on I￿￿￿ govemments in Ihe lonn ol fees for resid&ntiaVnursing care. visual rehabilitation and the edLKation of our pupils. Trustèes are aware thal rel￿nCe on sialutory funding is a risk during the r$or9anisalion ol local aulhorities into sU￿r authofrties and the changing patt&m$ ol funding due lo reducing resour¢&s. Wè are conslanlly seeking alternativt, innovatNe ways ol funding OUT activities to minimi6& the reliance on local authority fundin9. We ¢onlinuè 10 See p8rtnership$ •s ¢rucia to our su¢ces$ and we will continue io look for others who share our vision. The charity's policy 15 lo consul ar￿ dis¢u$s tMih employoes. Ihrcwgh unions, slaff counrils and at meetings, matters likely lo affecl employee5. inler•$ts. Infomation ol matters of concem Its empbyees 1$ gr¥en through infomalion bullglins and reports whi¢h seek to achie￿ a common awarenes5 on the part of am •rnployees of the financial and economic factors affe¢b'ng the group's performance. Plan• forfvturè CBI ¢ontinue lo work towards attracting ftjrther kay partn8fS onto our 8ite' Ihes• must direclly benefft our children and young people and our ambrtion5 lo offer Ihtrm f8al life employmenl opportunitie$. The nursery on Sile continues 10 9row, and raisès the profile ol Sl Vincenl'5 In Ihe widèr bcal community. The Comrnunity Café is a busy hub usèd by lo¢al residgnts, staff, parents and w5rtors to the $rte. The Lod9e Iocu5es on promoting health and well-being ol our lo¢al ¢ommunrty. During Ihe Cowd.19 pandemi¢. and subsequenl lockdown we have seen an imp8Ct on th8 oper81ions of some ol our tenant organi5alions. and CBI has put in pl￿ measures, Induijing flexibilily on rent payments. lo hèlp Ihos8 businesses remain svsiainabl8 dur¢ng this extra￿rdInary lime. AS part of the sustainability exercise we are reviewing whether these parlnerships remain feasible. Due lo the ongoing Situation within the Care Sector and eonlinued pressure on Local Govommenl funding, Ihg Future Planning Gioup is focussing on evaluating options lo &nsure suslainabilty. These inctude.. review cijnsolidating 3ervic¢$ onto a single Site to release 8$set value into cash reserves exil Care Seclor and sell Chnstopher Grange as going concem lo other Care providers. locus charily on services for Visual and olher sensory servrces s(Tategic partnerships wrth other charrt*s. -branding lo indude poi&ntial name change 3 year financ4al plan lo dèlÈmiine direction in these option$ The charity will continue to be gui(kd by the strategic Ihemes and impad priorities identified above. By focusing on these areas. CBI will deliver hi9h qualty. sustainable serv￿5 for peO￿e of all ages within our communty. CBI will support the operational diwsws in delivering enhanced 5ewvices by raising OUT publi¢ profile and devèloping strategic netsyorks and partnerships." proactively developing our board of trustees w￿h on-going skills analysis." the development of an improved promotional resource induding name and branding review and social media piesence, and by exph)ring opportunities to develop our exleD5ive srte and maximise return on property assets. CATHOLIC BLIND INSTITUTE COMPANY LIMITED BY GUARANTEE TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2022 StructuY¢, gov•manc• and m¥nagernent The charity known as 'Calholic Blind Instrtule and Sl. Vincenl's School for the Blind and Partially SvJhled' was constituted by Trusl Deed in 1971. In 2004. the chaiity became a company limited by guarantee and known simply as Catholic Blind Inslilute. The company is re9ulated by a memorandum and artieles ol assouatTron and Company and Chanty in England. Goveinance ol the Charity is the responsi￿￿tY of Ihe trustees of thè ¢harrty. who are also Ihtr director$ of the company. The director Irustees are cU￿en11Y Ihè only members of the ¢harty and so entitled lo vole at mèetings of the ITuslees. The ITuslees meet four timès a year plus an annual dèvelopment day or a5 reqvired and oversèè the general working ol the charity. ￿en vacancies o¢cur. the Irvslets asses5 the skills available on Ihe BoaTd. laking into account the changing ext&mal environment. The Iruslees ale supported by sU￿COMmIttee5. including the Board ol Governor5 01 St. Vin¢enl'$ SL*ool. Al the director Iruslees are Unpa￿ volunleers. Day-1o-¢Jay management ol the chafity is overseen by rts Ch￿1 Exècutiv¢ Officer, supported by a small admin￿1raI1On team an¢J managers ol the Indi￿dual units, induding the Schod'$ Pnntypal. Therè afe approximalety 226 employees ol thè ¢harily. Qvality of service is considered an essenlial element ol Iht provision ol services and Ihtr charily's rèpulalitsn Is laigely built upon Ihè dedication. commitmenl and eyrt15e of those whom w8 employ and to whom the Irusiees express theii ijeep gratitude. Th8 chanty's work is SUPPONed by professional fund¥aiser$ and by other expertise contracled from outside the tharity a$ required. Overall responsibility for Ihe provision of seMc8s and appropriate use of the assets al Its disposal lies with lh8 Charrty's trustees. The day.Io-day mana9emenl ol th6 Charity is ddègaled lo a manager of each of th¢ thrèe 'unil$'; the school, the re51denliaVnursing homè and th¢ visual rèhabihlalion cènirt. These unil managers Ore led by a Chief Executive oificer and a Finance Direclof, Wrth one lull-lime and one part-time support slaff. These ar? th• minimum administratlve Slaff that Ihe trustees believe art nè¢essary for the èffiuttnt wnning of the charity. R•l•r•nc• and admlnbstr*tiv• d•t•ll• The trustees. who are also the direclor5 lor the purpose of c¢mpany law. and who served during the year and up lo thg dale of signatuie ol thg finan¢rJl SIaler￿nts were". Mr J T Bale$ IResigned 20 Jun• 20221 Dr M F Knighl (Deceased 14 April 20221 Mr M G O'RouTke Mr P Robbins Mr S Win51anley Mrs G Bounds Mr J Dawson {ReS￿￿ed 6 Dec•mber 2021) {Appoint8d 8 November 20211 {Appointed 8 November 2021 and resHJned 16 September 20221 {Appointed 20 June 2022 and resigned 1 Seplember 20221 MT L Johnson Mr E Murphy Mr R Phillips Mr WT M Roberts Mr R Robinson (Appointed 8 November 20211 (Appointed 8 November 20211 (Appoinled 8 November 2021 and resigned 16 Septembe¥ 20221 (Appoinled 8 November 2021} (Resigned 28 February 20221 (Resigned 11 Juty 20221 (Appoinled 8 Novernber 2021 and resigned 2 February 20221 (Appoinled 20 June 20221 IAppoinled 14 Novembew 2022} Mr M Scanlan Rev J Jes50n Mrs E Lockwood Mi F M¢Farlane MrA Nawaz Ms 8 Buckle CATHOLIC BLIND INSTITUTE COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT (CONTINUED FOR THE YEAR ENDED 31 MARCH 2022 Envision Education and Enlerpiise Vilage C.l.C., a Communily Inteiesl Company ICICI. formed lor Ihe purpose ol carrying on aclivitles whith benefil the communty and in parlicjjlar {wth0￿ Trmilalwl lo uTrJgrtake proi8ets and aclivilies Ihal provide either d¢recl enrithment lo the eduutKJn ol young people and othei beneficsaries ol Ihe Chartly or undertakes cnmplementary a£￿.￿1￿eS that arè Incthntal lo andlor are benefthl to the Charlly fv) supporting Ihe curr•nl and future beneficiaries ol the Charity O￿tinued to operale during Ihe year under rew•w. The following Ivu8tees of the chaiity W8f• also diredors ol the CIC. IAr J Oww59n, Mi R Robinson and Mr S Wnslanl8y. Al 31 Marth 2¢Y22, lunds of the ch8rfy ￿K)unlIn9 10 t1￿.(￿, ol whith £48.387 w85 drawn. had been eommltted to enable Ihe CIC lo begln operations. 11 is 8nti(ipaled Ihal CIC wll in due cwrse be a nel contribulor to Ihe finanrial opefalions ol Ihe ehanty.. drawn IheTelore been ￿￿￿nall￿ as an investrnenl a66ocialeB vnder Flx6d assèt Inveslmnts. Audltor In a￿ordanCe wtth the corysany's wb'des. a ru0￿110￿ w0posir￿ Ihat BIW be reappoNrted as audllor of Ihe ¢ompany wlll ￿ pul 41 a Geneial Meeting. Dkclo•ur• of Infomwtion to #udllor Each ol Iwstees has confirrned Ihal th•r8 ￿ no Inlormation of whk* thèy ar• aVAre Is relevanl to the audit, bul ol which the auditor Is tsnawarè. Thèy havè lurthw eonfim)ed thal they have taken #PPTowatè sleps lo Idéniify such r8l•wdnt infwn*'on and to eslablBh Ihal the auditry ￿ ¥war• ol •u(* nlormalKm. steès, Teport thdudlNJ tha str8ttgi¢ rtwt. wa5 apkYov¢d by Ihe Board ol Tru8tOe8. Mr M G O'Rourke TrnBte• Date.. Zo23 CATHOLIC BLIND INSTITUTE COMPANY LIMITED BY GUARANTEE STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2022 The tnjstees, who are also the directors of Catholic BliThJ Institute for the puryjose of cL)mpany law, are responsible for Pfeparing the TfUStees' Report and the fjnancial statèments in aCCOfdancè with applicablè law and United Kingdom A¢counting Standards (Unrted knngdom Generally Attèpled A¢¢ounb"ng Practi¢el. Company Law requires thè Irustees to prepare financial statemen15 lor each financial year which give 8 true and fair y￿W of the state of affairs ol Ihe chaiily and of the incoming resources and application of resources. induding the income and expendrture. ol the charitable company lor ihat year. In preparing these financial statements, the tru$le8s are requirgd to.. - seled suitable accountsng polia•$ and then appty them w)stslenty". - observe the m8thods and prin¢iples in the Charrties SORP.. - make judgements and esbmales thai *e reasonable and prLthnl'. stata whet￿r applicable UK Accounting Standards have be&n folowed, subj'ect to any malerial departures di$¢lo$&d and expl8inèd in the ffinancial slatements.. and prepare the financial slalement$ on the 90ing cor*c￿ basi$ unl&ss il 1$ inappropriale lo pro$ume that the charity wlll continue in operation. The Iruslees are responsiblè Iof keeping adequate accounting records Ihal disdose wilh reasonable accura￿ 81 any lime the financial posrtion of the charity and enable them lo ensure that the financial statements comply with the CoMpan￿S Act 20L￿. They ale also responsible for safeguarding the assets of Ihe chanty and hence for taking reasonable steps lor the preventson and deleckn'on ol Iraud and olher irregularities. 12- CATHOLIC BLIND INSTITUTE COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CATHOLIC BLIND INSTITUTE Oplnlon We have audrted the finanaal statements of Catholic Blind Institute Ithe 'charity'l for thè year ended 31 March 2022 which comprise thè slatemenl ol financial activities. the balance sheet. the statement of cash flows and notes lo the financial $latem¢nls. induding significant accounting poli￿ÈS. The financjal reporting fraM￿￿[k that ha5 been applied In their prepafation is applicable law and Unrted lQ"ngdom Accounting Standards, induding Financial Reporting Sl8ndard 102 Th8 Ftnèncial ReportirKJ Slandaffd applAcable in the UK and Republtic of lrnland Iunited Kingdom GeneraltyAccepled A¢¢ounbng Prath¢e). In our opinion. Ihe financial statemenl5'. give a Irue and tsiT view of the stsle of the tharItab￿ ¢tsmpanl$ affairs as at 31 March 2022 and of its incoming resource5 and appI￿all0￿ of resources, induding ils ￿COMe and expenditure. for thè year then ended.. have been prO￿￿Y pffjpared in a￿rdanc8 wth Unrted Kingdom Generally Accepted Accounting Practice., and hav& b8gn prepar•d in accordance wth the reqvirenwnts oflhe Companies Act 20C6. Ba•1• for oplnlon We con*Ju¢t¥d our audrt in accofdance wrfh Intemational Standards on AudNing IUKI (ISA$ IUK)) and applicable law. Our respon$ibilili*$ under those standards are lurther dèsen￿d in the Audito*s rnsponsibiliti8s lor the auclil ol the fin•n¢i81 slalemenls section ol our report. We are indtrpendenl ol the tharrty in accordan¢e with the ethical requ1￿MentS that are relevanl to otsr audil of the finanrjal statemènts in the UK. including thè FRC'S Ethical Standard, and we have fulfilled oyr othèr ethical responsi￿1111*$ in a¢¢ordance wrth these requirem8nls. We believe that Ihe audit evidence we have obtsined is suffioent and approprole lo provwje a basis for OLsr opinion. at•rtil unc•rtalnty r•lat•d to going con¢•m We draw attention tts the $tatement ol finanaal aclmbes tsn page 17 01 Ihe financ4al slalemenls, which indicates that the charily Incurred a nel defi¢il of £893.277 lexcluding a positive l¥ansl8f of nel assets trorn Bradbury Fields of £1.076.8131 during the year ended 31 Mar¢h 2022. As stated in note 1.2 in th8 accounling policies on page 21 the financAal forecasts prepared lo Ihe end of 2023 suggesl thal thal Ihe Charity requires additional cash resourcés to fund rts w0￿$ng capital requirements. l)ul lhe￿ a￿ material uncertainknes as lo wheth•r Ihfrse will be availabl&. The above circumstances Indicale thal a malenal uncertainty exisls that may ¢ast Sl9nifunt doubl on the ¢harity'$ ability lo continue as a going concern. Our opIn￿n Is not modified in respecl of this matter. In Audrting the financial slalements. we have ¢ondud•d thal the truslees. use ol Ihe going concern basis of a¢¢ovnting in the prepafalion of the financial slalements is appropriate. Our responsibilities and the responsibilities of the trusteès with resp•cl to w'ng cnncem we desuw in th8 rO￿vant sects'ons ol lh￿ report. K•y audit matt•r8 ExcÈpi for the matter described in the Material un¢ertwnty re￿Ied lo gI￿n9 con¢èm se¢ts'on, we have detemiinèd that th$￿ ar• no olh•r key audit matters io be communut8d in our report. Other Inlomwtlon The other inlomiation comprises the inlonnation induded in the annual report olher than the financial slalemènls and our audilorfs report thereon. The tIU5tees are responsible for the other Infom)ation contained within the annual report. Our opinion on the financial slatement5 does not covw Ihe other infomiation and. except lo the exlenl otherwise explicilly slated in our report. we do not •xpress any form of aSSUfancè condusion Ihereon. Our responsibilrty is to read the other informatKJn and, In doing so. consider whether the other Inlomiation is malerialty inconsistenl with (he financial statements or oui knovAedge obtained in the course ol thè aud(I, or otherwise appeals lo be materially misslaled. If we identlfy such rnateri31 inconsistenaes or appaienl matèrial misslatements, we are rèquirèd to determine whelher this gives rise to a material misstatement in Ihe finanryal statements themselves. 11. based on the work we have performed. we conclude that there is a material mi551alement ol this other information. we are required to report Ihat fact. We have nothing to report in this regard. 13- CATHOLIC BLIND INSTITUTE COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF CATHOLIC BLIND INSTITUTE Opinions on oth•r mattern prescribed by the Companies Act 2006 In our opinion, based on Ihè work undertaken in Ihe course ol our audit.. Ihe information given in tha trustees. reporf lor the financial year for which the financial statements are prepared, which includès the directors, reporl and the slrategic reporf prepared for Ihe purposes of company law, is consistent with Ihe financial stalements." and the strategic report and Ihe directors, report induded wrfhin the truslees. report ha￿ been prepared in accordance with applTr¢able tegal requiremen15. M•tt•r• on whlch wt #rn requ•r•d to r•port by •xc•pllon In the lighl of the knowle1 thantable servicas, togèther wrth support cosls. in pursuance of the chariws objeciivès. Value added tsx 1$ not ro¢0￿13b1• by thè charity and is induded in Ihe relevant cost in the stalemLMt of finanaal a¢tsvilie$. Governance cosls indude the eosts ol govemanee arrangements whi¢h ￿Late lo Ihe genefal running of the Charity as opposed to the direct management fvnclions inherent in generating funds, $aNce dèlivery and programme or projed work. -22- CATHOLIC BLIND INSTITUTE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Accounting polici IContlnu•dl 1.6 Intsngibl• f5xed assets other than goodwill Intangible as5e15 acquired separately from a buwnèss are fecognised at C051 and are Subsequenlly measureil at cost less arLurnulated amortisattw and a¢¢umulated impairment losses. Intan9ibl8 assets acquired on business cornlynalions are ￿CogniSed separately from goodwill at Ihe a¢qu¢sition datè where rt is probab￿ thal Ihe expected lulure eeonomic benefils Ihal are attfibutable to Ihe a$$el will flow to the enlily and the fair value of the asset can bè mèasured feliably.. the int8rtgible asset arises from ¢onlradual of othèr18gal rights., and Ihe intangit>le a&sel is separable from the entrty. Amortisation is recognised so as to write off the cosi or valu•b"on of assets less their residual values over Ih8lT useful lives on Ihe folk)wing bases.. Intangibles 2￿ per onnum stra￿h1 I 1.7 Tanglbl• fix•d a*Mt• Tangible fixed assets are Inilially measured at cost and subsequentty me8sur¢d al ￿st or valuation, nel of depreciation and any impairment h)sses. All fixed assets costing more Ih8n £1,rJJo are capiialised at c¥$l. Deprecialion Is cal¢ul8ied so •$ to writé off Ihe cosl of an asset. rts e$limat•d residual value, ov•r th8 useful economic life of Ihal a$$el as follows". Freehold land and buildings Le8s8hold land and buildings Leasehold improvernents Fixtures, Frtbngs & Equipmgnl Computer equipment Molor vehKAe$ 2% per annum Stra￿h1 lin• Over 100 years O¥ef 20 years 5%- 20% per annvm straight line 25%- 33% per annum straight line 20%- 25% per annum $traighl line Freehold and leasehold land 18 nol dgpr8caated. The gain or bss arising on the disposal of an ass￿ is delemined as the dfflerence betsyeen Ihg sale proceeds an¢J the eafrying value of Ihe asset, and is recognised irt Ihe stalemènl of financial aclivities. 1.8 Flx•d as8•t Inv•slm•nt• Listed inveslrnenls afe stated at Ma￿et value based on Ihe closing mKldSg w'¢è at the balance sheet date and the gain or10sS taken lo the slat8ment of finanual actiwlies. Realised gains and 1055es on investments are calculated as the d￿e￿nce bgtwè8n sales pro¢eeds and th8 opening market v8lve Ipurchasè datè rf later}. Unreali5ed gain5 and losses ate caleulated as the drfference be￿een the market value at Ihe ye8f-end and opening martel valuelor purehase datè rf later). A subsidiary is an entity controlled by Ihe charity. Control is the power lo govem the finanrial and operaling potscie$ ol the &ntrty so as lo obtain beneffts from its adiwtw. An assoaale is an enlity. being neither a SUbs￿lary nor a joinl venbjre. in which the charty holds a long-term interesl and whefe the chanty has signffi¢ant influence. The charity considers that rt has significanl influence where it has Ihe power lo partiGipale in thè financial and operating decisK)ns of the associate. The associate value is stated at cost. -23- CATHOLIC BLIND INSTITUTE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 MARCH 2022 A¢¢ounting polici•s (Continued) 1.9 Impalrni•nt of flx•d ass•ts Al each reporting end date, the thaiity re￿$W$ Ihe c￿lfig amounis of ts tangibk and intangible assets 10 determine whether thefe is any Indi¢ation that those assets have suffered an impairmenl boss. 11 any such indication exists, the re¢overable amount of the asset is eslimaled in or¢Jer to determine the extent of the impaimient loss (Trl any). Recoverable amount 1$ the hbgher ol fair value l&s$ costs lo sell and Wal￿ in use. In a$$8$$ing valu& in use, the estimated future cash flows are discounted lo their presenl value using a prè-lax discount rale that reflects current market assessmenls of the time value of money and Ihe nsks specthc lo the asset for which the estsmales of lulure ¢a$h flow5 have not been adjusted. If the re¢tsveTabk amount of an asset is estimated lo be less than its carrying amount. the carrying amount tsl the a55el is reduced lo its recoverable amount. An impairment kjss is recognised immediately in incomel ltrxpendilure for the year. ￿n￿sS the relevant asset is carried at a fevalued amounl. in which case Ihe impairment loss is Ir8at8d as a rgvaluatK)n deueas•. Recognised impaimienl h)$ses are fevèrsed rf. ènd onty if. Ihe reasons lor the impaim•nt loss have ceased lo apply. Where an impairment ksS5 sub5equenlly reverse5. the carrying amouftl ol the asset is increased to the revised eslimale ol rts recoverable afnounl. but so that the increased carrying 8rnourtl does not ex(*¥d Ihg Carrying amount that would have been delermined had no impairrnenl loss been recognised for the asset in prior year5. A reversal of an impairment Ioss 15 recognised immedialety. unles5 the relevant a65el Is ¢arrie¢J in al a revalued amount. in which case tho reversal of the impairmenl bss is treated as a ffjvaluation incrta80. 1.10 Sto¢k• Stocks are slated al th• loww ol cosl and eslimaled selling Vice less co$ls lo ¢omplele and s811. 1.11 Cash and c•8h •qulv•l•nts Cash and cash equivalents include cash in hand. deposits held al call with banks. other short-lerm liquid investments with original maturilies of Ihree months or less. and bank overdrafts. Bank ovèrdrafts are shown within borrowings in ¢urrenl liabilit￿s. 1.12 Flnancbal In8trum•nts The ¢h8rty has eleded lo apply the provisions of Section 11 '8a5ic Financial Instruments, ond Seclion 12 'Other Financial Instruments Issues. of FRS 102 to all of its financial instnjments. Financial instrurnenls are recognised in the charrtfs balance sheet when the charity beD)mes party lo Ihe nlractual prowsions of the instrument. Financial assets and liabiliti•s are offset. with th• amounts prèsent8d in tho financial statemenls. when there is a legally enforceablè right lo set off thè recognisèd amounts and there is an intention to settle on a net basis or to realise the asset and sethe the liabilty *murtaneously. Basle finaftclal assets Basic finanaal assels. which indud• deblors and cash and bank balances, are initially measured at transaction price induding transact￿ costs and are Subsequen1￿ carried at amortised cost using the effective interest melhod unless Ihe arrangemenl constitutes a finanang transactKJn. where Ihe Iransaction 15 measured at the present value ol the ftrture feceipts discounted at a Ma￿81 rate of interest. Financial asse15 Class￿led as receivable within one year afe rK)l amorb"$ed. 24_ CATHOLIC BLIND INSTITUTE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Accountlng policie• (Continued) Basic financial liabilities Basic financial liabilities. induding rxedrtors and bank loans are inth'alty recognised 81 Iransa¢tKJn price unless the arrangement constitutes a finanrAng transadion, where the debl instrument 15 measured at the present value ol the fulure payments discounted al a market fale of interest. Finanual liabilities classffied as payable within one year ale nol amortised. Debt instruments are subsequentty caThied at amtsrb.sed cost. using Ihe ¢ffective interest rate method. Trade ¢r8ditors are oblwations to pay for goods or services Ih81 have b&en a¢quired in the ordinary Ctsursa ol opgralions from suppliers. Amounts payable are dassified as current l¢bililie$ il payment is due within one y*ar or less. 11 not. they are presènted as nor￿(#Jrrent Ilabilrt￿s. Trade crtdilofs arè rècognised initially 81 transaction prti and subsequenlty m¢o$ured at amortised c05t using the effecti￿ Interest mdhod. D•r•¢ognition oifin•nclal li•biliti•s Financial liabilities art defecognis¢d vth¢n the charity's contractual obligabtsns or are discharged or ¢8ncelled. 1.13 Taxat5on The ¢harity bentrfils from various exèmptions from taxatKJn afforded by tax 109islabon and is r￿1 liable lo corporation tsx on income and gains lalling wrthin these exemptions. Recovery 1$ made of lax deducled from qualifying income and from receipts vnder Gift Aid. Tho chafily is not able to recover Va￿e Added Tax. Expendilure 1$ rO￿rded in the accoun15 indusiv• ol VAT. 1.14 Employ•• ￿n•fits The cosl of any unusod holiday entiuemenl is recognised in the period in which the employe¢'$ services are recEived. Terminats'on benefrts are recognised immediately as an exp¢nsg wh&n charity is demonstrably committ•d lo terminate the employmenl of an employee or lo prO¥￿e lemiinolw)n b•Mfits. 1.1S R•tlr•m•nt b•n•fft8 The school conlributes to Ihe Teachws. Superannualioft Scheme at rates sel by the s¢heme actuary and advised to Ihe school by the Teachers. Pensh)n Agen¢y. The sch&me is a mulli-employer pension s¢hemè and il is nol possible Io Nlenlify the assets and l￿blIrt*S ol the scheme vthich are attribulable lo the $¢hool. In accordance with FRS 102. Iherelore. Ihe scheme is ac¢ounled loi as défined contnbulion scheme. The charity also operales a defined benefil scheme adminislefed by Scottish Widows Fund and Llfe AssurarbC8 Souèty. The chanty has provhled for the Ipbtlty in re5ped of this scheme as sel out in note 22. The cost of prowding beneffts under defined benefit Flans is delemiined s¢paralely for each plan using the projacied unrt credit melhod, and is based on actuarial adwce. The change in the net t1•fined benefit lia￿lIty arising from employee seN¢e dunn9 the year is recognised as an employee cost. Thè ￿st of ￿aTh intfoductions. benefil (*anges. seltlemenls and curtailments are re¢o9nised as incurted. 25- CATHOLIC BLIND INSTITUTE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 A¢¢ounting pollcies IContinu•dl The net interest elemènt 1$ delerrnined by mum1￿Ying the nel defined benefit liability by the discount rate, taking into account any ¢hanges in the nel defined benefft liabilrty during the pèriod as a rèsuk of contribution and benefil payments. The net inlerest is recognised in inwnèllexp8nditur*l lor th& year. Remeasurernent changes comprise actuarial gains and k)ss&s. the efted of the asset ceiling and the relufn on the nel defined benefit liability èxcluding amoLrnls induded in net interest. These are Tecognised immediately in other recognised gains and 1055es in the p￿￿d ￿ which Ihey orLur and are not redassified to income/ {expendrturel in subsequent per￿5. The nel defined b$nefit penS￿n asset or liability in Ihe balance sheet compris•$ th& total lof &ach plan of thé present value ol the defined benefit Obl￿atIon lusing a discount rate based on h￿h qvalrty corporate bondsl. less the fair value of plan assels oul ol whKh the obligations ar$ w bè settled dire¢iiy. Fair value Is based on mark¢l pn¢e Information. and in th8 ¢ase of quoled se￿1111*$ is Ihe published bid pr￿￿. The value of a nel pension benefil a55el is limitad lo the amount thai may be le￿¥*red èilher through reduced contributions or agreed refunds from the sch•m•. 1.16 L•a••s Rtrnlals payable under opèrating leases. inc4uding any lease incentives received. ara charged as an expense on a 51raighl line basis ov*r the lewm of the rekvant lease. 1.17 AcquSgltlon$ The operation of Bradbury F*kls- Ser¥i¢es lor Blind and Path'any Sighted PeO￿e has been absorbed into th8 operations of Catholi¢ Blind Inslrtute and no consideration has been pa￿. The relevant net assets lincluding intangibles) havè bèen Irtaltd as a grft and recognised as income durin9 the year ol acquisition. Crltlc•l •¢¢ountlng Mlbm•t•• and ludo•m•nt• In the application of the charty'$ a¢¢ounting poliues. Ihe Iluslees are required lo make judgements. estimate5 8nd assumptions about Iho carying amount of assels and liabilities that are nol readily apparenl from other sources. The eslimales and a$$oryated assump1￿￿5 are based on historical experience and other faclors thal are cOnside￿d to be rdevanl. Acluol re5ulls may dilfer Irom Ihese estwnates. The estimates and undedwng as5umplions are revivrted on an ongoing basis. Revisions to accounling estimales are r•cogni$eil in Ihe period in which the estimale is ￿ViSed where Ihe rewsion affects only that period. or in Ihe pèriod of the re￿slon and bjture periods where Ihe remsion affects both current and futurè periods. Donatlon• •nd l•ga¢ie• Unrnstrlct•d R•*trlet•d funds funds Totsl unrestn.cted funds Reslricled fvnds Total 2022 2022 2022 2021 2021 2021 Donalions and gifts Le9acie5 re￿1vable Grants receivable 25.980 35.667 236,961 21,283 47.263 35.667 254.238 7,883 2.154 314.343 41,832 49,715 2,154 314.343 17,277 298.608 38. 337.168 324.380 41,832 366.212 -26- CATHOLIC BLIND INSTITUTE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Donations and lfrgacies Icontlnuedl Grdnts rnc•ivabl• for cor• actlviti•s Liverpool City Council Covid 19 Broome Family Trust Pilkinglon TNst Other 216.413 216,413 309,398 309,398 20.548 7.277 27.825 4,945 4,945 238,961 17.277 254.238 314.343 314.343 Charltsbl• *ctlvbtl•# ¢hrf•toph•v Grnrw• 2022 StMn¢•nV• School 2022 Brndbury Totsl Chrt•loph•r St Vln¢•nf• 2022 Gr•nq• Stho 2021 2021 Tot*1 2021 2021 Services provided under contract CharilJble renlal income 2,498,￿8 1,808,550 316.573 4,624,031 2,452.845 1,717,476 4,170,321 37.255 37,255 2,498,9)8 1.808.550 353.828 4.861,286 2.452,845 1.717.476 4,170.321 Analy3¢s by fund Unr8slTiCt•d lund$ 2,498,908 1,808,550 353.828 4.661.286 2,452,845 1,717.476 4,170,321 Othtrr trading •¢tl¥iti Unmtrl¢t•d Unrestricted fvndty nds 2022 2021 Trading adiwty in¢om8". olher 210.407 421,688 -27- CATHOLIC BLIND INSTITUTE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED FOR THE YEAR ENDED 31 MARCH 2022 Inv•$tments Unr•strictsd Unrestricted fvnds funds 2022 2021 Income from lisled in￿SIM￿lS $2.829 65.118 Oth¢r Incom• Unr•¥stri¢t•d R￿trIcI•d funds funds Total Total 2022 2022 2022 2021 Nel a55gt$ translerred from Bradbury Fwlds 1.063.158 13.655 1.076,813 R•l•lng fund• Unmtrict•d RMtrfct•d nd fund• Totsl Unie$lri¢t&d lunds 2022 2022 2022 2021 undraisin Staff cosls 20,492 20,492 radin Operating charity shops Bistro cost5 Bistro staff Costs 1,638 5,636 11.7ry) 1,638 5,772 11,700 136 Tra¢Jing costs 18.974 136 19,110 stment mana emènt 9,692 9,692 10.931 49.158 136 49,294 10,931 -28- CATHOLIC BLIND INSTITUTE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Charitable activiti Christopher St Wincenfs Grange School 2022 2022 Bradbury Field¥ 2022 Total Chfistopher St Vlncenfs 2022 Grange School 2021 2021 Totsl 2021 Staff costs Oeprec¢ation and impairm￿t 2,331.311 1.491.250 198.809 4.021,170 2.142.422 1,472,900 3,615,322 34,177 57.859 19.976 112,012 37.260 57,857 95,117 2.365.488 1,549,109 218.585 4.133,182 2.179,682 1.530,757 3,710.439 Share ol support ¢osls (see nole 101 Share ol govemance sls Isee nottr 101 1,172,137 $41.878 248.448 1,962,463 1,253.634 711,￿3 1.965.197 2.525 12,922 73,511 39,857 39,857 3.595.689 2,093,512 479.955 6.169.156 3,473,173 2.242,320 5,715,493 Analy•ls by fund Unrestricted lunds Restricted fund$ 3,593.263 2.076.2&8 454,621 8.124,140 3.469,874 2,205.878 S,675.752 2.426 17,256 25.334 45.016 3,299 36,442 39,741 3.595.689 2.093,512 479,955 6.169.156 3.473.173 2.242.320 5,715,493 CATHOLIC BLIND INSTITUTE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 10 support¢￿¢¥ Support Gov•man¢? ¢osts costs 2022 Support Gov•mane• co¥ts 2021 Staff costs Support costs Grange Supporl costs School Support ojsts Bradbury Fields 48.154 1,172.137 541.878 48,154 1.172.137 541.878 1,253,634 711,563 1.253,634 711,583 2rxJ.294 2¢XJ,294 Audit f8e8 Accountancy Le981 ar￿ professional 16.230 13,252 44.029 16.230 13.252 44,029 10,680 9,887 19.290 10,680 9,887 19,290 I.￿2.463 73,511 2.035.974 1,965.197 39,857 2,005,054 An8tysed between Chantable activilie$ 1.962,463 73.511 2.035.974 1,965,197 39,857 2.005.054 Support antj goveman¢e cosls ar• rocharged in accordanee wrth charitabl& actiwty and usage. 11 Audltorfs v•mun•rntlon FM• p*yibl• to th• ¢h•rfty's •udStor and •*$o¢l•t•*: 2022 2021 Audrt of th8 ¢harrty's annu81 accounts 18,230 10,680 Non4udit services All other non-audit services 13,252 9,887 12 TrustM• None ol the trustees ltsr any persons connected wth Ihem) received any femuneration or were rèimbursed expenses during the year12021'. £nill. CATHOLIC BLIND INSTITUTE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 13 Employe•s The avèrage monthly number of emFdoyees during the year was.. 2022 Numb•r 2021 Numb•r Chfislophef Grange Sl Vincent's School Bradbury Fields Administfation 140 124 45 25 Total 226 173 Emplo￿nI ¢Mts 2022 2021 Wages and salanes Swal s•ctsrty costs Other pension (xjsts 3.661,225 243.7 1*,591 3,189.424 227.216 198,682 4,101,516 3.615,322 Th& number ol employees whose annual remuneralion was more than £80,(KJO is as follows. 2022 Numb•r 2021 Numb•r £70.C4JO- £80.OCO £80.000- £90.000 £90,000 - £IIXJ,000 Contributions tolalling £24.952 {2021." £24.7371 were mad¢ lo d8fined CA]ntribut￿)n pension schemes on behall of omployees whose eM0￿mentS exceed £80.(￿. 14 N•t galnslllossv41 on InvMtments Unw•¥trl¢t•d Unrestricted funds lunds 2022 2021 Revaluation of investmonts Gawillloss} on Sa￿ of investments 1156,9931 267.476 282,488 211,008 110.483 473,496 31 CATHOLIC BLIND INSTITUTE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 15 Intanglble fixed assets Int•nylbl•A Colt Al 1 April 2021 Additions- transfer from Bradbury Fields 13,800 Al 31 Marth 2022 13,800 Amortb•atlon •nd IMpalm￿Trt Al 1 April 2021 Amtsrtisation charged for Ihe year Transfer from Bradbury Fields 1.380 3.130 Al 31 March 2022 4,510 Carylng •mount At 31 March 2022 9,290 At 31 March 2021 ON ¢yJ try thot CATHOLIC BLIND INSTITUTE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 16 Tanglble flxed assots Icontlnuedl The carrying value of land induded in land and buihlrys ¢ompri5es'. 2022 2021 Long leasehold land 938.338 938,338 Onts of Ihe leasehold propertigs is hehj on a hjng leasehfAd (999 years) on the prowso the chanty uses the property lor the training of visualty ¥npaired people in Ihe use of gukle dogs 8$ an aid to mobilrty and all related reh8bilrtalion services. 17 Flx•d ai••t 5nv••tm•nts Li•t•d Inv•stm•nts Ca¥h In portlolio Onv￿tM•ftts Totsl Cmt or valuatlon Al 1 April 2021 Addrtions Valuation changes Cash movernenls Oispo$al8 2.215,179 20.097 {156.9931 184.484 48.0S7 2.427.720 20.197 1156,9931 79,932 1712.7651 79.602 330 11CQI 1712.6651 Al 31 March 2022 1,365.618 244.086 48,387 1.658,091 Carrylng amount Al 31 March 2022 1.365,618 244.086 48,387 1,658.091 At 31 Mar¢h 2021 2.215.179 164.484 46.057 2,427.720 2022 2021 Other inv•$lmènts compris8- Not•s Invèslmonls in assooat*s 32 48,387 48,057 2022 2021 Lisled inve$lmenl$ carryirvJ amount 1.089.203 1,781,771 CATHOLIC BLIND INSTITUTE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 18 Financial instrum•nts 2022 2021 Carylng amount of financial atysgts Debt Instruments measured at amorti$8d o)st Equity inslrurnenls mèasured at cost le55 impaimènl Instruments measured at fair value through profft OT1055 987.312 48.387 1,365,618 730.886 48,057 2,215.180 Carrying arnount ol fin*n¢lal Il•bllltl•s Measured #l omortised ¢￿st 174,060 284,959 19 Stocks 2022 2021 Bar supplies 1,175 20 D?btor4 2022 2021 Amounts lalllng duo wlthln on• y•ar. Trade deblors Prepayments and 8¢¢ruad income 184.S99 177,651 $4,871 196,714 342.250 251,585 21 Cr•dltor•'. •mounts f•lllng du• wbthln on• y••r 2022 2021 Other laxalion and sorAa securty Trad8 credrtors Other creditors Acc¥ual$ and dolerred income 68.663 59.856 37,318 114.204 53.957 109.298 25,696 155.661 280,041 344.812 22 Fund¥ h•ld on b•half of thlrd yrtios As al 31 March 2022 £25.59212021 £21.8701 was held on bèhall of the residenls in separate bank accoun15. This amount has been exduded fr¢yn cash at bank and in hand and from traile credilors as rt is nol charity money. CATHOLIC BLIND INSTITUTE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 23 R•tiv•mont benefit Schem Defined contrSbution •¢hemes The charity operates a definèd ctsntribuli￿ pension sd￿me fof al qualfyin9 employeè$. The assets ol the $¢heme are held separalety from those oflhe charty in an indep￿d¥ntfy administered fijnd. The school parts"ripales in a mutt￿0m￿OYer peft￿n scheme. The Govemmenfs Teachers Pension Defined Benefits Scheme. lor ils leaching Staff. The pension liabilty is the responwbility of the Teacherfs Pensions Scheme. A5 a Tesult it is not possible lo identity the assets and liabilrt￿s ol the sch&me which are attributable lo the Scho￿. The contributions for the year lo 31 March 2022 are in tiers for lea¢hers and this is between 7.4% and 11.7% 12021.. 7.4°A lo 11.7%). FCK the empkjyer the rate for the year is 23.684h12021". 23.66%). The schoofs ¢onlribuli0fts payabk to th• lund were £118.57512021 - £126.9371. The employers, pension contributions lor Ihe period in respect of Ihe NEST auto enrolment scheme la defin8d conlTibulion sthemel amoLtnted to £32.341 12021.. £33.073). In addition Ihe employer makes ￿ntrIbUtIOnS lo personal pensKJn schemes on behaw of kgy management staff. The contributions lor the year arnounted lo £18,49112021.' £9,240). D•lln•d b•n•fit schem The defined benefit pension arrangemenls ale op8ratad in Ihe UK Ihrou9h CS Finanoal Solvtions. Contribulions payable lor the year to the defined ben8fit s¢hem& amounted lo £27.183 {2021". £29.3021. The assets ol th8 $¢hem¢ are held separately from those ol the ¢harty and are 8dminislered by Scottish Wdows and Standar¢J Lrfe. The pension cost is delemined on the adw¢e of the independent qualified actuaries. The 8theme is a UK-based defined ben•fil scheme, pro￿aIn9 benefrt$ al rekn'remenl and dealh.invservice. Th• $¢h•me is do8ed to new •ntranl$ and the age wofile of actNe members will irKfease over lime. A trienni81 valUat￿n was camgd oul on 31 December 2018 whith re¥e*d a deficit in the ass&ts ol the schemè of £472.000 when measurèd against Ihe technical prowsKJns and is based on a more prudent Viaw of the lulure. Arb FRS102 valuation wa$ wnpltrted dated 31 March 2022 by a qualified independent actuary Pèter Cormack on behaw ol XPS Pen5K)n5 IRLI Limiled. lellow of the Institule and Facurty of Acluariès, and is based on a 'best estimate. vtew ol Ihe future and has resulted in a surplus 01 £88,000, as dglailed bèlow, as a f&$ult. This SUr￿u$ is indud•d as a provision in the accounts. The scheme is subjecl lo risk in relation lo changes in inflation and to Changes in the value of thè investments and the returns derived from such inveslments. An investmenl strategy is in pla¢e whi¢h h•s bagn developed by the pension trusteès in order lo rnanage investments and mitigate $u¢h risk$. Key assumplJon8 2022 2021 Di$¢ounl rate Expected rale of salary increases Piice inflation volatility Rètail pnce inflation Consumer pricè inflation CATHOLIC BLIND INSTITUTE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 23 R•tirom•nt b•n•fft sch•m•s (Continued) Mortality assumpllons The assumed lrfe expectakn'ons on retirement at a9¢ 65 are.. 2022 Y•ars 2021 Y•ar• Reliring today Males Females 21.4 23.8 21.3 23.7 Rètiring in 20 years - Males Females 23.0 25.5 22.9 25.5 Amounts rÈcogni$ed M) the profft and lo$s aco)unl.' 2022 2021 Currenl servi¢e cost Net inleresl on defined benefit Iiatsltyl{8$s81} Restriction on nel inler•sl in¢omg uedrted lo the wN>)me statement 30.000 17.0001 94,000 34,000 89,000 Total costs 117.000 123.000 Amounls taken to other ¢onwrehen$Ne inwm.. 2022 2021 Actual return on scheme assets Less.. calculated interest element (54,0001 {794,0001 89,000 Return on scheme assels exduding inleie51 income Restriclion on nel inleresl income ￿ed11è￿ to Ihe income 8t4ltrm¢nl Acluari81 Changes relatèd to Obl￿atIonS Effe¢l$ of in the amount of surplus Ihal 1$ not recoverablè 40.000 194.0001 1251.000} 517.000 1705,0001 189.0001 510.000 135.000 Total ¢osWlincom•l 212,000 1149,0001 -37- CATHOLIC BLIND INSTITUTE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Retlr•m¢nt b•nefrt sch•m•s IContlnu•dl The arnounls induded in the balance sheet arising from the charrty's obligation5 in respect ol defineil bènefit plans are as lollow5" 2022 2021 Present value of defined ￿neffl oblryalv￿$ Fair value of plan assets 4.069.0 4.399.000 {4,674,0001 14,869.0001 Sufplus in scheme 1605.(MXJI 1270.OCrf)I Restriction on sthemt assets 517.(K)O 135.000 Total asset recogni5ed 188.0001 1135.0001 Movemènts in the present valu• of d*fined beMffiI Obh"gat￿6.. 2022 Liabilities at l April 2021 Current sèrmce cosl Benefits paid Conlribulions from sch8m• N*mbers Actuarial gains and loS￿S Int&rèst ¢osl 4,399,000 30.000 1210,0001 14,000 1251.0001 87,000 Al 31 March 2022 4.069.000 The defined b&nefil Obl￿atron$ arise from plans whKh afe whohy or parlly fvnded. Movements in Ihe fair Val￿ of plan •ss•l$'. 2022 Fair valve of assets al l April 2021 Inlere$l income Relum on plan assets lexduding amounts in¢Auded in net interest) Benefits paid Contributions by the ernployer Contributions by scheme members 4,669.000 94.000 140,0001 1210,0001 147,000 14,000 Al 31 March 2022 4.674.000 CATHOLIC BLIND INSTITUTE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Retirernent benefit s¢hgm•8 {Con￿n￿•d) The tsir value of plan assels at the repoiting ￿riod end wa5 as folkrws.. 2022 2021 Equity instruments Corporate Bonds Gills Cash 2.710,920 807.620 1.075.020 280.440 2.614.640 1,260.630 513,590 280.140 4,674,000 4,669,0 -39- ¢00 8000000 0000000 m¢4 *oo yr w(riCC Ci ti ¥ t ¢ri ajm CATHOLIC BLIND INSTITUTE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 27 Financial eommlbx•nts. gyar¥nIg￿ and ¢ontingent liabiliii The triennial valuation of the pension scheme daled 31 December 2018 showed a deficit on the scheme ol £472.000. The trustees have comm￿e￿ lo repay Ihis dèficit al £10.(K)O per monlh over a pefiod of 51 months stsrtin9 from April 2020. This will be r¢v*wea al Ihe next I￿nnr4I rew8w which wa$ on 31 December 2021 bul has nol y$t been compleled. 28 Operatlng l•a¥¢ ¢ommltrnents Al the reportin9 ènt1 date Ihè tharty had outstanding commrtments for luiuTe minimum ￿8$• payments under nor￿cancellOb1e op•rabng1oa5es. whith fal due as lolh)ws'. 2022 2021 Wilhln onè year 1,623 L•¥¥or The oper81ing leases repfesenl ￿aSeS lo Ihird part￿s. The leases are negotiated over term5 of 1 10 15 years, All leases include a provis¢on for five-yearty upward rent ￿￿ewS according to prevailing markel conditions. There are no options in plac8 for eith8f party lo ext•nd t￿ ￿a88 terms. At the reporting •nd date Ihe ¢harty had conlraded wrth lenanl$ lor foknving minimum1ga$• payments.. 2022 2021 thin year Betweèn and fve y8aTs 39.850 26,558 66.408 29 Ev•nt• aftor th• reportlng dat• An offer has been receNed aftgr Ihe year foi Christopher Grangg to bo sold as a goin9 ¢oncem and this is currenty being progr8ss8d by th• soliciloi$. 30 R•lat•d party tran•aetlo R•mun•ratlon of key man4gem•nt p•rsonn•l The remuneration ol key management personnel 1$ 8$ fclknws. 2022 2021 Aggregate compensation 324,154 319.326 There were Tho other disdosable related party transadions during the year12021- none). CATHOLIC BLIND INSTITUTE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 31 Subsidiarl•s Detsils ol the charivs subsidiari¢$ at 31 March 2022 are as folhy•ts'. Name of undertak•ng Register of busln•ss Class ol h•ld °A Hèld Dlr•ct Indir•ct Bradbury Fields Trading Limited England & Wale5 t)ormanl Ordinary 100.00 Bra¢Jbury Field$ Trading Limitgd has ¢oased to trade and wa5 dissolved tsn 27 S¢pt8mber 2022. 32 A••oclat•• These financial statements are separale charity fin8ntyal $tslemenl$ lor Catholic Blind Instrtule. Details ol the chanty's associates 8131 M¥r¢h 2022 are as folkxs.. Nam• ol und•rtaklng R•gl•to¥•d Naturn of bu¥lne•• offic• Class of Shar•* h•ld % H•ld Dlr•ct Indirnct Envision EducatKJn & Enterprise Villa9e C.l.C. England & Wales SupF*Xt fty Sl Mn¢enl's S¢hoolCommunty Interest Company 11)0.00 33 C••h g•n•rntsd from op•rntlon* 2022 2021 Surplu$lldfjficitl for Ihe year 183,$36 194,5901 Adjuslmenls for.. Investment income recognised in statemenl of finawal 8¢lMI Gain on disposal of investments Fair value gains and lossès on inwslments Depreciation and impairmenl of langit4e fixed assets Decreasellincreasel In prowsitsn for definèd pension stheme Nèt assèts transferred from Bradbury Fields 152.8291 1267.4761 156.993 112,012 47,000 11.076,8131 165,1181 1211,0091 1262.4881 95.117 1175.CQOI Movemenls In working caprtal". Ilncrease} in stocks IlncTeaselldecrease in debtors ID8ereas*l In cret1rtors {1,1751 {90.6651 164.5711 82,450 (25.1381 Ca•h a￿or￿d by opèrntlons 11,053.9881 1655.7761 CATHOLIC BLIND INSTITUTE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 34 An•tysis ol cash and cash •quiv•lonts 2022 2021 Cash at bank and in hand Fixed asset investmènts 578,626 244,087 511.512 164.483 Total ¢••h *nd ¢a•h •qub¥al•nts 822.713 675,995 ## 27 January 2023 ACM/RP/CBI001/530078 The Trustees Catholic Blind Institute St Vincent's School Yew Tree Lane Liverpool L12 9HN Dear Trustees The purpose of this letter is to bring to your attention the findings from our audit of Catholic Blind Institute for the year ended 31 March 2022. We see effective communication with the Board of Trustees as being a key part of our audit, and it is important that there is effective two way communication. We welcome any feedback or questions regarding the conduct of the audit process. Please find enclosed with this letter our formal audit findings report. Our formal report, with any recommendations we feel would be beneficial, and confirmation of our professional integrity, objectivity and independence is contained in appendix 1. We appreciate that you will already be aware of the majority of the matters contained in this letter. We would like to take this opportunity of expressing our thanks to your staff for their assistance during the course of our audit. If we can be of any further assistance, please contact Anita Mason. Yours faithfully ## **Catholic Blind Institute Year ended 31 March 2022** ## **Appendix 1 – Audit findings report** The purpose of this summary is to bring to your attention the findings from our audit of Catholic Blind Institute for the year ended 31 March 2022. In order to comply with the provisions of International Standard on Auditing (ISA) 260 – ‘Communication of Audit Matters with those Charged with Governance’ we are required to report to management on the findings of our audit, with particular reference to: - views about the qualitative aspects of the charity’s accounting practices and financial reporting - the final letter of representation - unadjusted misstatements - matters specifically required by other Auditing Standards to be communicated to those charged with governance (such as fraud and error) - expected modifications to the auditor’s report - material weaknesses in the accounting and internal control systems - any other relevant and material matters to the audit We may also take this opportunity to make any recommendations we feel would be beneficial and also to confirm our professional integrity, objectivity and independence. This report is not intended to cover every matter which came to our attention during the audit. We do not accept any responsibility for any reliance placed on it by third parties. Our procedures are designed to support our audit opinion and cannot be relied upon to identify any weaknesses in systems and controls which may exist. **Catholic Blind Institute Year ended 31 March 2022** ## **Key Audit Issues** The following table summarises the key audit issues we identified at the audit planning stage as requiring specific consideration at the audit visit and the audit procedures we undertook at the final audit in relation to them. There was no change to our audit plan. |**Income**|As required by auditing standards, we
must consider the effect on income of
potential fraud and error.
Our detailed testing, on a sample basis,
did not identify any issues which could
result in income being materially
misstated.| |---|---| |**Management override**|As required by auditing standards, we
must consider the potential for
management to override procedures and
manipulate figures.
Nothing has come to our attention during
the course of the audit that would indicate
management override has taken place.| |**Undisclosed Related Party**
**Transactions**|As required by auditing standards, we
must consider the effect of transactions
with individuals or organisations that are
related to the charity.
Nothing came to our attention during the
course of the audit that would indicate
there are undisclosed related party
transactions.| ## **Catholic Blind Institute Year ended 31 March 2022** |**Going concern**|It is necessary for us to obtain audit
assurance that the trustees of an
organisation have considered its ability to
continue as a going concern for a period of
at least 12 months from the date of
approval of the accounts. This is
particularly relevant for those
organisations whose income streams are
derived from a relatively small number of
funders.
The large operating deficit of £956,760 for
the year (excluding the positive transfer of
net assets from Bradbury Fields of
£1,076,813) together with the ongoing
cash shortfalls and budgeted deficit of
over £1m for 2023 would indicate a
material uncertainty.
Our review of post balance sheet events
indicated that new income streams in
relation to post-19 education were being
sought. In addition we are aware that the
property portfolio has recently been valued
at a significantly higher value than
currently stated in the accounts and that
the charity are looking to realise funds
from the sale of Christopher Grange to
support the charity’s activities in the short
to medium term.
In light of this, we feel that there is a
material uncertainty in relation to going
concern based on the charity continuing to
generate operational deficits and the
reliance for future cash funding from the
sale of Christopher Grange. Although the
sale process has advanced at the date of
signing the accounts it has not been
completed. As such this material
uncertainty has been disclosed in the
accounts and our audit report has been
modified to reflect this.| |---|---| ## **Catholic Blind Institute Year ended 31 March 2022** ## **Independence** Ethical Standards issued by the Financial Reporting Council require auditors to ensure that those charged with governance of the audited entity are appropriately informed on a timely basis of all significant facts and matters that bear upon the auditor’s objectivity and independence. We confirm that we have reviewed our independence. This review included consideration of whether: - the firm is dependent on the charity as a client due to the significance of the audit fee to the firm - the firm is owed significant overdue fees - there is any actual or threatened litigation between the firm and the charity - any benefits have been received by the audit team which are not modest - the firm has any mutual business interest with the charity - any members of the audit team have any personal or family connections with the charity or officers - independence is impaired through the provision of services other than the statutory audit. We have discussed with you the fact that we provide accounting and taxation services to the charity in addition to acting as auditors. We wish to confirm to you that in our opinion the provision of such services does not affect our independence as the additional services provided are of a routine compliance nature and the Board takes any decisions where judgement is required. The firm and the audit engagement team have therefore complied with relevant ethical requirements concerning independence. **Catholic Blind Institute Year ended 31 March 2022** ## **Qualitative Aspects of Accounting Practices and Financial Reporting** ## _Accounting policies_ Financial Reporting Standards require entities to review their accounting policies regularly to ensure that they are appropriate to its particular circumstances for the purposes of giving a true and fair view. The Board plays a key role in this process. We have reviewed the charity’s accounting policies as stated in the final financial statements in detail and confirm that we judge them to be appropriate to provide relevant, reliable, comparable and understandable information. ## _Accounting estimates_ The key accounting estimates in the financial statements are set out on the letter of representation. We confirm that these estimates (which include depreciation, accruals & prepayments, Bad debt provision and pension scheme) appear to have been made on a consistent basis to the prior year, and to be correctly calculated and disclosed in the financial statements. ## _Timing of transactions_ Our audit work confirmed that material transactions appear to be recorded in the correct accounting periods. ## _Going Concern_ The financial statements have been prepared on a going concern basis. We have evaluated the assessment of the charity’s ability to continue as a going concern and confirm that this assumption appears appropriate. ## **Letter of Representation** In accordance with ISA 580, we obtain written representations from the Board that they acknowledge their responsibility for preparing the accounts and have made all information available to us. We draw your attention to the paragraphs concerning specific representations. In other respects the letter is routine. ## **Catholic Blind Institute Year ended 31 March 2022** ## **Audit opinion** Although we have provided an unqualified audit opinion on the charity’s financial statements for the year ended 31 March 2022, as previously detailed, we have also included a ‘Material uncertainty related to going concern’ paragraph which has been reproduced below: ## _**“Material uncertainty related to going concern**_ _We draw attention to the statement of financial activities on page 17 of the financial statements, which indicates that the charity incurred a net deficit of £893,277 (excluding a positive transfer of net assets from Bradbury Fields of £1,076,813) during the year ended 31 March 2022. As stated in note 1.2 in the accounting policies on page 21 the financial forecasts prepared to the end of 2023 suggest that that the charity requires additional cash resources to fund its working capital requirements, but there are material uncertainties as to whether these will be available._ _The above circumstances indicate that a material uncertainty exists that may cast significant doubt on the charity’s ability to continue as a going concern. Our opinion is not modified in respect of this matter._ _In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report._ ## _**Key audit matters**_ _Except for the matter described in the Material uncertainty related to going concern section, we have determined that there are no other key audit matters to be communicated in our report.”_ ## **Audit adjustments** Our audit work is based upon an assessment of materiality to ensure there is no material misstatement contained in the financial statements. In assessing materiality we take into account both the materiality of the class to which the balance belongs and the overall impact of the balance on the income and expenditure account and balance sheet. ISA 260 requires us to report to management on all unadjusted misstatements identified during the audit, to include in this report how we have calculated materiality, and to identify any misstatements identified during the audit which have been adjusted. We are not required to report on adjusted or unadjusted misstatements we believe are clearly trivial. ## _Materiality_ Our assessment of materiality was based on the trial balance received prior to the audit and calculated using gross income. ## **Catholic Blind Institute Year ended 31 March 2022** ## _Audit adjustments_ The following adjustments were processed when finalising the financial statements. **----- Start of picture text -----**
Actual errors SOFA Balance
Narrative (I&E) sheet
DR CR
(£) (£)
(£) (£)
Reduction of audit accrual for
1 6,600 6,600
Bradbury Fields for unpaid fees
at the year end 6,600 6,600
2 Additional depreciation on 2,652 2,652
Bradbury Fields IT equipment
2,652 2,652
3 Depreciation of intangible assets 1,380 1,380
transferred from Bradbury Fields
1,380 1,380
4 Disposal of Bradbury Fields 100 100
Trading Limited 100 100
Total adjustments 10,732 10,732
**----- End of picture text -----**
## _Unadjusted misstatements_ The following unadjusted misstatements were identified during the course of our audit, except for those considered to be clearly trivial. We understand that the reason for not adjusting the financial statements in respect of these misstatements is immateriality. **----- Start of picture text -----**
Actual errors SOFA Balance
Narrative (I&E) sheet
DR CR
(£) (£)
(£) (£)
Additional accrued income
1 9,049 9,049
relating to school fees and
Bradbury Fields 9,049 9,049
Total of potential adjustments 9,049 9,049
**----- End of picture text -----**
**Catholic Blind Institute Year ended 31 March 2022** ## **Accounting and Internal Control Systems** The purpose of the audit was to enable us to express an opinion on the financial statements. The audit included consideration of internal control relevant to the preparation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of internal control. The matters reported are limited to those deficiencies that the auditor has identified during the audit and that the auditor has concluded are of sufficient importance to merit being reported to those charged with governance. The systems notes we have used in the course of our audit were provided by you on 11 May 2022. ISA 260 requires that we report to those charged with governance any material weaknesses in internal control that we identify in the course of our audit work. A material weakness is one that could adversely affect the charity’s ability to record, process, summarise and report financial and other data so as to result in a material misstatement in the financial statements. We are pleased to report that we did not identify any such weaknesses. ## **Recommendations** These are our recommendations for improvements to the current systems and procedures which have come to light during the course of our audit work. |**Matter arising**|**Recommendation**| |---|---| |We note from our testing of trade creditors
that BACS payments are being raised on
Opera at the month end which is around
2-3 weeks prior to the payment actually
being paid. From discussion with Sue
Robertson we understand that the date on
Opera is not the date that the payments
are being created.|We would recommend that this is
investigated to identify whether it is a
software issue or an inputting error.
We understand that Sue Robertson was
looking into this prior to her retirement.| |From our audit work we note that the stock
held at Bradbury Fields was not counted
at the year end and has not been counted
for some time which has resulted in a
potentially inaccurate value.|We would recommend that this is counted
as a minimum at the year end but ideally
more frequently to ensure an accurate
value is recorded in the accounts.| |Following our work on the post balance
sheet events, we note that the properties
have been valued at significantly higher
than the current carrying value in the
accounts (as they are currently included at
cost).|The trustees may wish to consider
changing the policy to use the revaluation
method which would give a fairer balance
sheet position of the charity. However, if
this method is adopted then the properties
would need to be revalued on a regular
basis which would have a financial cost to
the charity.|