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2021-04-30-accounts

REGISTERED COMPANY NUMBER 05098747 REGISTERED CHARITY NUMBER 1103732

ESSEX BLIND CHARITY (A company limited by guarantee)

ANNUAL REPORT AND FINANCIAL STATEMENTS

30 APRIL 2021

ESSEX BLIND CHARITY

CONTENTS

Pages Pages
Officers and Advisers 1
Report of the Trustees 2 - 9
Independent Auditor’s Report 10 - 13
Statement of Financial Activities
(including Income and Expenditure Account) 14
Balance Sheet 15
Statement of Cash Flow 16
Notes to the Financial Statements 17 - 32

The following pages are included for the Trustees’ information and do not form part of the financial statements: Detailed combined Statement of Financial Activities 34 - 35 Statements of Financial Activities 36 - 37

ESSEX BLIND CHARITY

OFFICERS AND PROFESSIONAL ADVISERS

Trustees S M Mann JP (Chairman)
T Crawshaw
M J FitzPatrick FRICS (resigned 31 December 2020)
R Jackson ACCA, CTA
A Mabert
R Marshall FRICS, FAAV
S D Porter
D Smith
A Williams (resigned 27 October 2021)
N Meixner (appointed 28 October 2020)
*retired members of the professional bodies concerned
Company Secretary J Plant (resigned 28 October 2020)
J Dixon (appointed 28 October 2020)
Registered Office Read House
23 The Esplanade
Frinton-on-Sea
Essex
CO13 9AU
Registered Company Number 05098747
Registered Charity Number 1103732
Auditor Scrutton Bland LLP
Chartered Accountants
and Statutory Auditor
820 The Crescent
Colchester Business Park
Colchester
CO4 9YQ
Bankers Natwest Bank Plc
4-5 High Street
Chelmsford
Essex
CM1 1FZ

ESSEX BLIND CHARITY

REPORT OF THE TRUSTEES

The trustees (who are also directors for the purpose of company law) submit their annual report and the audited financial statements of Essex Blind Charity (the Charity) for the year ended 30 April 2021. This report also represents the Directors’ Report required by S417 of the Companies Act 2006.

The trustees confirm that the annual report and financial statements of the Charity have been prepared in accordance with the requirements of the Charity’s governing document and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), Charities SORP (FRS102) and the Charities Act 2011.

Legal and administrative information

Legal and administrative information set out on page 1 forms part of this report.

Structure, Governance and Management

Constitution

The Charity is controlled by a Memorandum and Articles of Association dated 29 October 2003 and operates as a Charitable Company limited by guarantee, as defined by the Companies Act 2006.

Structure, Management and Trustee Appointment

The Charity is managed by a Board of Directors, which consists of not less than three members. At the year end there were nine Directors, two of whom are visually impaired. Directors are appointed by the Board. Nominations are considered and approved by the whole Board. Directors meet monthly to review the performance and strategy of the Charity as well as to set operating plans and budgets. All major decisions are made at Board level and must be passed with a majority vote of the Directors present. In order to make a decision one third of the Board has to be present. Minor day to day decisions are made by the General Manager, with authorisation from the Board.

Since the coronavirus lockdown in March 2020, most Board meetings are held remotely by ‘Zoom’.

Induction and training of new trustees

The policy and procedures adopted for the induction and training of Directors includes visits to the residential home and the community services office, an introduction to the other Directors, including details of their particular areas of expertise, and details of the objectives of the Charity, including information on current projects and plans for future development.

Remuneration Policy

The Charity does not have any fixed criteria for setting pay and remuneration of key management or any other personnel. Pay rates are reviewed generally on an annual basis by the Board of Directors and awards depend on the current financial status of the organisation and any Government directives.

ESSEX BLIND CHARITY

REPORT OF THE TRUSTEES

Risk management

The Directors have conducted a review of the major risks to which the Charity is exposed. Where appropriate, systems or procedures have been established to mitigate the risk the Charity faces. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety of staff, volunteers, clients and visitors to the home. These risks and procedures are reviewed periodically to ensure that they continue to meet the needs of the Charity.

The Charity is following Government guidance relating to the management of all operations during the coronavirus pandemic.

OBJECTIVES AND ACTIVITIES DELIVER PUBLIC INTEREST

Objectives and aims

The Charity’s objectives, as set out in its governing documents, are to meet the needs of visually impaired people and their carers and families throughout Essex and are undertaken to further the Charity's charitable purposes for the public benefit. To this end Essex Blind Charity:

The Charity's community work operates under the name of ‘Essex Sight’.

Further details of these and other aspects of the Charity’s work will be covered in later sections.

ESSEX BLIND CHARITY

REPORT OF THE TRUSTEES

Public Benefit

In accordance with their duties in the Charity’s Act 2006, it is incumbent on the Directors to conduct a Public Benefit Test, to assess whether the Charity has complied with its duties in due regard to the public benefit guidance published by the Charity Commission.

The Directors are satisfied that Essex Blind Charity has complied with its duty in regards to the Public Benefit Test over the past year, based on the four principles in the Commission’s Guidance.

Service Delivery – Achievements and Performance

Read House

The residential care home in Frinton-on-Sea is run by a Registered Manager and a Care Manager, who are overseen by the General Manager of the Charity. All staff undertake induction training and the necessary care training. Read House was delighted to receive an overall rating as 'Good', as well as 'Good' ratings for each of the 5 categories inspected (i.e., Caring, Effective, Safe, Responsive and Well Led) at the CQC Inspection which took place in November 2020. A subsequent review in March 2022 did not identify any evidence that the CQC needs to carry out an inspection or reassess their rating. The Board of Directors are grateful to the staff for their skills and enthusiastic efforts which have provided this excellent service for residents. The care home has its own designated website at www.readhouse.org.

Like many organisations, the Charity has been affected by the COVID-19 pandemic which had a significant impact on the running of the Home and the operation of a community service throughout the year. Despite the challenges, the home and community service has operated throughout and managed to remain Covid Free until February 2021. All residents and 98% of staff have received both covid vaccinations.

ESSEX BLIND CHARITY

REPORT OF THE TRUSTEES

Essex Sight

We are grateful to the ECL (Essex Cares Limited) and Essex Community Foundation, which have helped to fund our Community Services.

The Essex Sight team comprises a Community Services Manager and four Community Support Officers who have managed the charity’s work for the community during the pandemic from home and on a rota at the Essex Sight office in Colchester to provide telephone support. All home visiting was changed to doorstep or garden visits to maintain social distancing guidelines, the Mobile Sight Centre and pop-up locations across the County were suspended and only Colchester Eye Clinic allowed ECLO support. Social activity was moved online with a ‘zoom’ coffee morning to keep clients in touch.

When permitted, the Sight Centre in Colchester operated a limited appointment only service to assist clients who could not be supported via telephone, online or by doorstep visit with all necessary covid guidelines adhered to.

Sight Centres

The pop-up sight centres were all suspended due to the pandemic, however Essex Sight plans on reopening them to help provide a readily accessible service, particularly for those who do not have online access. The mobile sight centre could only be used to support doorstep visits but will be back out supporting people in rurally isolated areas when permitted.

Community Hospital Eye Clinic Support

The charity has continued to support newly diagnosed patients through the Eye Clinic Liaison service in Colchester Eye Clinic (Colchester Primary care trust). The service provides newly diagnosed VI people and their relatives/carers the opportunity to discuss their situation with a trained officer and receive support and advice to help them cope with their daily lives. The Broomfield (low vision clinic) and ECLO support has remained suspended as has the ECLO service in Brentwood Community Hospital. We hope to provide support once the services reopen to outside agencies.

Services to the Community and Home Visiting

Home Visiting is an important and regular part of the charity’s service, and it was important to maintain it albeit in a socially distanced format during the pandemic. The Community Support Team were able to maintain the face-to-face connection that is desperately needed by some clients who were particularly isolated

The charity was fortunate to have specialist equipment donated that is no longer required, especially electronic magnifiers, that are expensive to purchase. The team were able to advertise these items and deliver them to VI clients that would not normally be able to afford them.

ESSEX BLIND CHARITY

REPORT OF THE TRUSTEES

Awareness Talks

Raising awareness within the wider community is an essential part of the Charity’s work. We maintained a digital, print and spoken word presence throughout the pandemic to ensure visually impaired clients were aware of the support offered and the services that were still available to them.

Volunteers

The charity relies on volunteers to provide support; however, the majority have remained inactive this year. Regular contact has been maintained with them and they are looking forward to helping clients once again.

As these works have no quantifiable value this is not recognised in the financial statements.

Exhibitions

The charity was looking forward to celebrating its centenary with a presence at all the major community events in Essex to promote eye health and provide information on sight loss. Most of these events and the Charity’s own annual exhibitions that demonstrate the latest equipment innovations have been postponed to 2022.

Website

Details about Essex Blind Charity’s services can be found on the website at www.essexsight.org.uk and www.readhouse.org. This enables people to find out about services offered by the charity without having to travel to our Essex Sight Office or Read House. The Essex Sight website is accessible to visually impaired people and is very informative. The Read House website is in the process of being redeveloped and we are grateful for the expertise given by Hughes and Co. The charity also uses Facebook and twitter accounts to provide regular information and contact via social media.

Helpline

Essex Blind Charity maintains a phone line for anybody who needs information, advice, or emotional support to call and has remained a lifeline for many who were shielding or unable to use internet-based services.

Spotlight – Essex Blind Charity Newsletter

This newsletter goes out six times a year to more than 1,000 residents across the County. It provides a variety of information for visually impaired people and can be provided in large print, in audio form or by email. It is also available via our website. The audio description is very kindly provided by Chelmsford Talking Newspapers, to whom we are very grateful. Readers are encouraged to send in articles, and the local theatres and libraries use the newsletter to keep residents up to date with their events.

ESSEX BLIND CHARITY

REPORT OF THE TRUSTEES

Partnership working

The Directors are pleased with the development of Essex Vision, which is the strategic group of sight loss organisations in Essex. The aim of the group is to champion the creation and implementation of a Vision Strategy in Essex.

The charity is also part of the Essex Sensory Community, a group of local sensory organisations who are funded by ECL to provide information, advice and guidance to those with sensory needs.

The charity is a member of Visionary, the collective body of sight loss organisations Nationally, attending regional and national meetings to keep up to date and share knowledge.

Financial Review

Reserves policy

Unrestricted funds are needed:

The Directors consider it prudent that unrestricted reserves should be sufficient:

The Directors consider adequate funding exists presently to meet these requirements. They regularly review and monitor the situation.

Funds

The activities during the year resulted in a surplus of unrestricted funds of £8,768 (2020: £71,246 deficit) for the year.

There was a decrease in restricted fund balances at the year end, as a number of projects that had been interrupted as a result of the restrictions imposed by the Covid 19 pandemic were restarted. The deficit on restricted funds for the year was £1,369 (2020: £11,943 surplus). Restricted funds at the year-end totalled £14,003 (2020: £15,372).

Overall, there was a surplus in total funds of £7,399 (2020: £59,303 deficit).

ESSEX BLIND CHARITY

REPORT OF THE TRUSTEES

Investment policy and objectives

Following the unexpected bequest of approximately £1m. in 2016, the Charity spent a considerable sum refurbishing Read House. The remaining £500,000 was available for investment and the Trustees decided that they wished this element of the bequest to be invested for the long term benefit of the Charity. The Charity required an income of approximately 3% of the initial capital invested and for capital growth (after investment charges) ahead of current inflation. To this extent, Epworth Investment Management Limited was appointed to manage the fund. Their brief is to reinvest the income and to provide an investment report each quarter giving returns in real terms and against chosen benchmarks. To date, Epworth’s have more than met our expectations.

The Trustees have decreed that the Charity should not invest in munitions or tobacco companies but other than that would wish the Portfolio to have an ethical bias.

FUTURE DEVELOPMENTS

The Charity's plans are to continue to provide accommodation and support to the elderly visually impaired in the Essex area who need a residential home. Continuing its partnership in Essex Vision and the Essex Sensory Community, it intends to continue to encourage Essex County Council to improve its advice and support for visually impaired people. The Charity plans to continue to ensure all its RNIB trained Eye Clinic Liaison officers are effectively deployed in supporting Eye Clinics and to continue to encourage consultant ophthalmologists to recognise the value and make more effective use of our ECLO service. It is planned to develop an internet-based phone system to improve communication and response for clients

The charity was unable to celebrate its centenary (2020) as the planned events to mark this milestone in the charity’s history have been cancelled due to the current restrictions due to Covid 19. It is hoped that they may resume in 2022.

In February 2021, the effects of the pandemic caused Read House to sadly loose half its residents. This was a devastating blow to the Charity on a personal level. Thanks to the Charity’s investment policy, it was able to draw down funds to sustain Read House for the remainder of the year until by which time it had recovered financially. Essex Sight’s service became much more outward facing with more time spent going out to clients, a greater demand for support whilst the permanent sight centre footfall dropped considerably. The Directors have reviewed how the Charity meets the needs of Visually Impaired people and in order to secure that is considering how best all the existing services can be delivered. There must be a focus in sustainability and service delivery to the beneficiaries of the charity so all alternatives as to how to best utilise the assets will be considered.

8 April 2022

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF ESSEX BLIND CHARITY

Opinion

We have audited the financial statements of Essex Blind Charity (the Charitable Company) for the year ended 30 April 2021 which comprise the Statement of Financial Activities (including the Income and Expenditure Account), Balance Sheet, Statement of Cash Flows, and related notes to the financial statements. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Charitable Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES OF ESSEX BLIND CHARITY

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Charitable Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion :

INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES OF ESSEX BLIND CHARITY

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 9 the trustees (who are also the directors of the Charitable Company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the Charitable Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charitable Company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, through discussion with the trustees (as required by auditing standards), inspection of the Charitable Company’s regulatory and legal correspondence and discussed with the trustees the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. The potential effect of these laws and regulations on the financial statements varies considerably.

Firstly, the Charitable Company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation and taxation legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Secondly, the Charitable Company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: compliance with the requirements of The Quality Care Commission, health and safety, safeguarding rules, human rights and employment law and GDPR compliance. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the trustees and other management and inspection of regulatory and legal correspondence, if any.

INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF ESSEX BLIND CHARITY Auditorfs responsibilities for the audit of the financial statements (continued) Audtt procedur8s undertaken in response lo the potential risks relaling to itTegulatitie5 (which include fraud and non-complian￿ wtth laws and wulations) comprised of.. enquiries of management and those charged wtth governance as to whether the company complie5 With such regulations. enquiries of management and those d￿rged with govemance con￿ming any actual or potential litigation or daims. inspection of any relevant legal documentation, review of board minutes. testing the appropriateness of joumal entries and the perfomiance of analytical review to identfy any un8xpected movements in account balances which may be indicative of fraud. No instsnces of material n(KFcOM￿iance were identtfied. Because of the inherent limitations of an a￿11, there is a risk that we wtll not detect all irregularities, including thosè leading to a material misstatement in the financial statements or non<0mplian￿ with regulation. This risk increases the more that compliance wrth a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become abvare of InStan￿S of norFcornpllan￿. The risk is also greater regarding irr8gularities occurring due to fraud rather than error. as fraud involves intentional Con￿alMent, forgery, collusion. omission or misrepresentalion. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's webstte aL" https:IlvMv.frc.org.ukJauditorsresponsibilities. This description fomis part of our audttorfs rep Use of our report This report is made solely to the Charitable Company's trustees. as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audtt work has been undertaken so that we might state to the Chartlable Company's trustees those matters we are required to state lo them in an audrtofs report and for no other purFKise. To the tullest extent p8rmitted by law, we do not accept or assume responsibility to anyone other than the Charitable Company and the Charitable Company's trustees as a body, for our audit work. for this report. or for the opinions we have fomed. TIMOTHY O'CONNOR (Senior Statsrtory Auditor) For and on behalf of SCRUThON BLAND LLP Chartered Accountants arKI Statutory Auditor 820 The CreS￿nt Colchester Business Park Colchester Essex C04 9YQ Date: l fi IoiF 13-

ESSEX BLIND CHARITY

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 30 APRIL 2021

Total Total
Unrestricted Restricted Funds Funds
Notes Funds Funds 2021 2020
£ £ £ £
Income from:
Donations and legacies 3 79,835 87,638 167,473 105,279
Charitable activities 4 1,298,977 - 1,298,977 1,318,432
Other trading activities 5 759 - 759 9,740
Investments 6 11,385 - 11,385 17,842
----------------------------------------------------- --------------------------------------------------- ----------------------------------------------------- -----------------------------------------------------
Total income 1,390,956 87,638 1,478,594 1,451,293
----------------------------------------------------- ----------------------------------------------------- ----------------------------------------------------- -----------------------------------------------------
Expenditure on:
Raising funds 7 2,965 - 2,965 6,666
Charitable activities 8 1,467,392 89,307 1,556,699 1,448,760
----------------------------------------------------- --------------------------------------------------- ----------------------------------------------------- -----------------------------------------------------
Total expenditure 1,470,357 89,307 1,559,664 1,455,426
----------------------------------------------------- --------------------------------------------------- ----------------------------------------------------- -----------------------------------------------------
Realised and unrealised
gains/(losses) on investments 88,469 - 88,469
(55,170)
----------------------------------------------------- --------------------------------------------------- ----------------------------------------------------- -----------------------------------------------------
Net income/(expenditure) 9,068 (1,669) 7,399 (59,303)
Transfers between funds (300) 300 - -
----------------------------------------------- --------------------------------------------------- --------------------------------------------------- ---------------------------------------------------
Net movement in funds 8,768 (1,369) 7,399 (59,303)
Total funds brought forward
at 1 May 2020 2,504,467 15,372 2,519,839
2,579,142
----------------------------------------------- --------------------------------------------------- --------------------------------------------------- ---------------------------------------------------
Total funds carried forward
at 30 April 2021 £ 2,513,235 £ 14,003 £ 2,527,238 £ 2,519,839
================= ================= ================= =================

All incoming resources and resources expended derive from continuing activities.

The Statement of Financial Activities includes all gains and losses recognised in the year.

ESSEX BLIND CHARITY

BALANCE SHEET AS AT 30 APRIL 2021

BALANCE SHEET
AS AT 30 APRIL 2021		 BALANCE SHEET
AS AT 30 APRIL 2021		 BALANCE SHEET
AS AT 30 APRIL 2021		 BALANCE SHEET
AS AT 30 APRIL 2021
____________
Total Total
Funds Funds
Notes 2021 2020
£ £
Fixed assets
Tangible assets 12 1,936,592 1,937,179
Investments 13 500,295 501,010
----------------------------------------------------- -----------------------------------------------------
2,436,887 2,438,189
----------------------------------------------------- -----------------------------------------------------
Current assets
Stocks 14 25,139 24,111
Debtors – due within one year 15 11,939 42,124
Cash and cash equivalents 133,109 68,255
----------------------------------------------------- -----------------------------------------------------
170,187 134,490
Creditors: amounts falling due
within one year 16 (79,836) (52,840)
----------------------------------------------------- -----------------------------------------------------
Net current assets 90,351 81,650
----------------------------------------------------- -----------------------------------------------------
Net assets £ 2,527,238 £ 2,519,839
================= =================
Income funds
Restricted funds 18 14,003 15,372
Unrestricted funds 18 2,513,235 2,504,467
----------------------------------------------------- -----------------------------------------------------
£ 2,527,238 £ 2,519,839
================= ===================

The financial statements have been prepared in accordance with the special provisions applicable to charitable companies subject to the small companies’ regime. In the directors’ opinion the Charitable Company is entitled to these exemptions as a small company.

Approved by the Board of Trustees on and signed on its behalf by: 8 April 2022

S M Mann JP - Trustee R Jackson – ACCA, CTA

Company registration number: 05098747 Charity registration number: 1103732

ESSEX BLIND CHARITY

STATEMENT OF CASH FLOWS YEAR ENDED 30 APRIL 2021

STATEMENT OF CASH FLOWS
YEAR ENDED 30 APRIL 2021		 STATEMENT OF CASH FLOWS
YEAR ENDED 30 APRIL 2021		 STATEMENT OF CASH FLOWS
YEAR ENDED 30 APRIL 2021
_______________
2021 2020
£ £
Cash flows from operating activities
Net movements in funds 7,399 (59,303)
Depreciation of tangible assets 10,076 10,333
Loss on disposal of tangible assets - 368
Interest received (424) (976)
Unrealised investment (gain)/loss (88,469) 55,170
(Increase)/decrease in stocks (1,028) 1,750
Decrease/(increase) in debtors 30,185 (28,630)
Increase/(decrease) in creditors 26,996 (34,300)
_____ _____
Net cash from operating activities (15,265) (55,588)
_____ _____
Cash flows from investing activities
Interest received 424 976
Purchase of tangible fixed assets (9,489) (24,238)
Purchase of investments (26,100) (52,500)
Sale of investments 114,300 77,430
_____ _____
Net cash generated in investing activities 79,135 1,668
_____ _____
Change in cash and cash equivalents in the year 63,870 (53,920)
Cash and cash equivalents brought forward 75,273 129,193
_____ _____
Cash and cash equivalents carried forward 139,143 £ 75,273
================ ================
Represented by:
Cash in hand and at bank 133,109 68,255
Cash held in investment 6,034 7,018
_____ _____
Cash and cash equivalents carried forward £ 139,143 £ 75,273
================ ================

ESSEX BLIND CHARITY

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 APRIL 2021

1 GENERAL INFORMATION

Essex Blind Charity is a Charitable Company limited by guarantee, incorporated in England and Wales, registered company number 05098747 and registered Charity number 1103732. The address of the registered office is Read House, 23 The Esplanade, Frinton-on-Sea, Essex, CO13 9AU.

2 ACCOUNTING POLICIES

Basis of accounting

The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), Charities SORP (FRS 102) and the Charities Act 2011.

The financial statements have been prepared under the historical cost convention.

The Charity constitutes a public benefit entity as defined by FRS 102.

The financial statements are prepared in pounds sterling and rounded to the nearest £1.

The trustees consider that there are no material uncertainties about the Charitable Company’s ability to continue as a going concern.

The following principal accounting policies have been applied:

Income

All incoming resources are included on the Statement of Financial Activities when the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Legacy gifts are recognised following the granting of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date.

Grants are accounted for when the Charity has sufficient entitlement to them.

Expenditure

All expenditure included in the Statement of Financial Activities are accounted for on an accruals basis.

Expenditure on raising funds includes the expenditure associated with the sale of visual aids.

Expenditure on charitable activities includes the expenditure associated with the Residential Home.

ESSEX BLIND CHARITY

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 APRIL 2021

2 ACCOUNTING POLICIES - (continued)

Fixed assets

Fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected lives on the following basis:

Freehold land & buildings - nil Fixtures and fittings - 20% reducing balance Motor vehicles - 25% reducing balance

Contrary to the accounting requirement of the Companies Act 2006, depreciation is not provided in respect of the Charity’s freehold buildings. The trustees are of the opinion that this is necessary to give a true and fair view of the financial position of the Charity. The ongoing maintenance work undertaken keeps properties in a continual state of repair and accordingly the trustees’ opinion is that the life of the property is so long and residual values so high that their depreciation is insignificant.

Leasing commitments

Rentals under operating leases are charged through the Statement of Financial Activities on a straight line basis over the lease term.

Investments

Investments are initially recognised at their transaction value and subsequently measured at their market value as at the balance sheet date using the closing quoted market price. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading ‘Realised and unrealised investment gains/(losses) on investments’ in the Statement of Financial Activities.

Stock

Stock is valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. The Charity holds display stock for visual aids, these items are being written down over a 5 year period.

Cash and cash equivalents

Cash equivalents are recognised as such and included with other cash balances where they represent short term, highly liquid investments that are readily convertible to known amounts of cash without being subject to a significant change in value.

Pension costs

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the Charity. Contributions payable to the scheme are charged to the Statement of Financial Activities in the period to which they relate.

ESSEX BLIND CHARITY

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 APRIL 2021

2 ACCOUNTING POLICIES - (continued)

Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Taxation

Essex Blind Charity is a Charity within the meaning of the Charities Act 2011 and as such is a Charity within the meaning of Part 11, Corporation Tax Act 2010. Accordingly Essex Blind Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Part 11, Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that such income or gains are applied exclusively to its charitable purposes.

Funds

Unrestricted general funds are funds which can be used in accordance with the charitable objects at the discretion of the Trustees. Restricted funds are funds that can only be used in accordance with specific conditions specified by the donor. Further details are provided in note 18.

Significant judgements and estimates

The more significant judgements and estimates involved in the preparation of the financial statements include assessing the depreciation rates applicable to tangible fixed assets and the way in which certain costs should be apportioned. Further details regarding these points are included within the accounting policies.

ESSEX BLIND CHARITY

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 APRIL 2021

3 INCOME FROM DONATIONS AND LEGACIES

Total
Unrestricted Restricted Funds
Funds Funds 2021
£ £ £
Donations 2,936 4,353 7,289
Legacies 21,465 - 21,465
Grants received 14,895 83,285 98,180
Government grant received 40,539 - 40,539
--------------------------------------------------- --------------------------------------------------- ---------------------------------------------------
£ 79,835 £ 87,638 £ 167,473
================= ================= =================
Total
Unrestricted Restricted Funds
Funds Funds 2020
£ £ £
Donations 3,350 639 3,989
Legacies 29,229 - 29,229
Grants received 14,895 38,423 53,318
Government grant received 18,743 - 18,743
--------------------------------------------------- --------------------------------------------------- ---------------------------------------------------
£ 66,217 £ 39,062 £ 105,279
================= ================= =================
Total
Unrestricted Restricted Funds
Funds Funds 2021
£ £ £
Grants received were as follows:
Essex Cares Limited 14,895 - 14,895
Workplace Capacity Fund - 2,600 2,600
Infection Control - 68,285 68,285
LFT Grant - 12,400 12,400
--------------------------------------------------- --------------------------------------------------- ---------------------------------------------------
£ 14,895 £ 83,285 £ 98,180
================= ================= =================

ESSEX BLIND CHARITY

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 APRIL 2021

3 INCOME FROM DONATIONS AND LEGACIES - continued

Total
Unrestricted Restricted Funds
Funds Funds 2020
£ £ £
Grants received were as follows:
Essex Cares Limited 14,895 - 14,895
Colchester Catalyst - 22,828 22,828
Yellow Car Charitable Fund - 4,992 4,992
Malcolm and Beryl Cook Foundation - 3,974 3,974
Saffron Building Society - 4,147 4,147
iBCF - 2,482 2,482
--------------------------------------------------- --------------------------------------------------- ---------------------------------------------------
£ 14,895 £ 38,423 £ 53,318
================= ================= =================

All grants support the key objective of enabling people with sight loss to remain independent and safe.

4 INCOME FROM CHARITABLE ACTIVITIES

Total
Unrestricted Funds
Funds 2021
£ £
Residential home 1,298,135 1,298,135
Day care 608 608
Day centre (31) (31)
Other activities 265 265
--------------------------------------------------- ---------------------------------------------------
£ 1,298,977 £ 1,298,977
================= =================
Total
Unrestricted Funds
Funds 2020
£ £
Residential home 1,280,964 1,280,964
Day care 24,696 24,696
Day centre 12,472 12,472
Other activities 300 300
--------------------------------------------------- ---------------------------------------------------
£ 1,318,432 £ 1,318,432
================= =================

ESSEX BLIND CHARITY

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 APRIL 2021

5 INCOME FROM OTHER TRADING ACTIVITIES

Total
Unrestricted Restricted Funds
Funds Funds 2021
£ £ £
Visual aids 757 - 757
Others 2 - 2
--------------------------------------------------- --------------------------------------------------- ---------------------------------------------------
£ 759 - £ 759
================= ================= =================
Total
Unrestricted Restricted Funds
Funds Funds 2020
£ £ £
Visual aids 7,565 - 7,565
Others 2,105 70 2,175
--------------------------------------------------- --------------------------------------------------- ---------------------------------------------------
£ 9,670 £ 70 £ 9,740
================= ================= =================
6 INCOME FROM INVESTMENTS
2021 2020
£ £
Interest receivable 424 976
Dividends receivable 10,961 16,866
--------------------------------------------------- ---------------------------------------------------
£ 11,385 £ 17,842
================= =================
7 RAISING FUNDS
2021 2020
£ £
Visual aids – net of stock adjustment 2,788 6,524
Investment management costs 177 142
--------------------------------------------------- ---------------------------------------------------
£ 2,965 £ 6,666
================= =================

ESSEX BLIND CHARITY

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 APRIL 2021

8 CHARITABLE ACTIVITIES

2021 2020
£ £
Residential home and day centre 1,542,839 1,434,805
Governance costs (note 9) 13,860 13,955
--------------------------------------------------- ---------------------------------------------------
£ 1,556,699£ 1,448,760
================= =================
9 GOVERNANCE COSTS
2021 2020
£ £
Subscriptions and registration fees 6,510 6,605
Auditors’ remuneration 5,100 5,100
Auditors’ remuneration for non-audit work 2,250 2,250
--------------------------------------------------- ---------------------------------------------------
£ 13,860 £ 13,955
================= =================
10 NET INCOME/(EXPENDITURE)
2021 2020
£ £
This is stated after charging:
Auditors’ remuneration 5,950 5,750
Depreciation – owned assets £ 10,076 £ 10,333
================= =================

ESSEX BLIND CHARITY

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 APRIL 2021

11 STAFF COSTS

2021 2020
£ £
Wages and salaries 1,122,023 1,039,366
National insurance contributions 71,834 64,968
Pension costs 18,156 17,091
Pension administration 4,680 4,260
--------------------------------------------------- ---------------------------------------------------
£ 1,216,693£ 1,125,685
================ =================

The average number of employees during the year was as follows:

2021 2020
Management 2 3
Administration 3 3
Community Services personnel 5 5
Care home staff 58 58
--------------------------------------------------- ---------------------------------------------------
68 69
================ =================

No employee received emoluments in excess of £60,000 in the year (2020: None). Pension costs are wholly charged to unrestricted funds.

There were no Trustees’ remuneration, expenses or other benefits for professional or other services supplied to the Charity for the year ended 30 April 2021, nor for the year ended 30 April 2020.

The aggregate remuneration of key management personnel was £30,858 (2020: £30,442).

Indemnity insurance is maintained covering the Board of Trustees in their capacity as trustees.

ESSEX BLIND CHARITY

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 APRIL 2021

12 TANGIBLE FIXED ASSETS

Freehold Fixtures Motor
property and fittings Vehicles Total
£ £ £ £
Cost
At 1 May 2020 1,900,000 48,761 21,981 1,970,742
Additions - 9,489 - 9,489
Disposals - - - -
------------------------------------------------ --------------------------------------------------- --------------------------------------------------- ----------------------------------------------------
At 30 April 2021 1,900,000 58,250 21,981 1,980,231
------------------------------------------------ --------------------------------------------------- --------------------------------------------------- ---------------------------------------------------
Depreciation
At 1 May 2020 - 28,068 5,495 33,563
Charge for the year - 5,955 4,121 10,076
Disposals - - - -
------------------------------------------------ ----------------------------------------------- --------------------------------------------- ------------------------------------------------
At 30 April 2021 - 34,023 9,616 43,639
------------------------------------------------ ----------------------------------------------- --------------------------------------------- ------------------------------------------------
Net book value
At 30 April 2021 £ 1,900,000 £ 24,227 £ 12,365 £ 1,936,592
================== =================== =================== ===================
At 30 April 2020 £ 1,900,000 £ 20,693 £ 16,486 £ 1,937,179
================== ================== =================== ==================

The freehold property was valued on 26 May 2015 on an existing value basis. The valuation was carried out by Karl Hines MRICS of Christie & Co. The valuation of £1,900,000 was incorporated in these accounts.

The historical cost of the freehold property is £1,921,076.

ESSEX BLIND CHARITY

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 APRIL 2021

13 FIXED ASSET INVESTMENTS

2021 2020
£ £
Movement in fixed asset investments
Market value brought forward at 1 May 2020 501,010 574,371
Additions to investment at cost 26,100 52,500
Disposals (114,300) (77,430)
Gain/(loss) on revaluation 88,469 (55,170)
(Decrease)/increase in cash held (984) 6,739
-------------------------------------- --------------------------------------
Market value carried forward at 30 April 2021 £ 500,295 £ 501,010
============= =============
Investment portfolio at market value comprised
Property Income Trust for Charities 59,804 62,439
EP Corporate Bond Income Fund 73,929 60,829
EP Global Equity Income Fund 39,879 29,585
EP UK Equity Income Fund 320,649 341,139
Cash held by Investment Manager 6,034 7,018
-------------------------------------- --------------------------------------
£ 500,295 £ 501,010
============= =============
14 STOCK
2021 2020
£ £
Medical and domestic supplies 8,328 4,049
Food 2,589 3,592
Visual aids – resale stocks 11,973 11,973
Visual aids – display stocks 2,249 4,497
-------------------------------------- --------------------------------------
£ 25,139 £ 24,111
============= =============

ESSEX BLIND CHARITY

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 APRIL 2021

15 DEBTORS

2021 2020
£ £
Trade debtors 6,994 35,608
Government Grants - 1,089
Prepayments and accrued income 4,945 5,427
--------------------------------------------------- ---------------------------------------------------
£ 11,939 £ 42,124
================= =================
16 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£ £
Trade creditors 41,113 12,783
Social security and other taxes 15,518 16,183
Other creditors 7,309 4,072
Accruals and deferred income 15,896 19,802
--------------------------------------------------- ---------------------------------------------------
£ 79,836 £ 52,840
================= =================
17 DEFERRED INCOME
2021 2020
£ £
Balance as at 1 May 2020 - 2,482
Amount received - -
Amount released to income - (2,482)
--------------------------------------------------- ---------------------------------------------------
Balance as at 30 April 2021 - -
================= =================

ESSEX BLIND CHARITY

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 APRIL 2021

18 MOVEMENT IN FUNDS

Expenditure Transfers
Balance at Incoming including between Balance at
1 May 2020 resources gains/(losses) funds 30 April 2021
£ £ £ £ £
Unrestricted Funds
General fund 264,187 1,389,821 (1,470,357) 938 184,589
Designated funds
Essex support 5 year
plan 300,000 - - - 300,000
Read House 8,000 1,135 - (1,238) 7,897
Essex support exit
strategy fund 25,000 - - - 25,000
Investment revaluation
reserve 7,280 - 88,469 - 95,749
Designated property
asset fund 1,900,000 - - - 1,900,000
----------------------------------------------------- ----------------------------------------------------- ----------------------------------------------------- ----------------------------------------------------- -----------------------------------------------------
2,504,467 1,390,956 (1,381,888) (300) 2,513,235
----------------------------------------------------- ----------------------------------------------------- ----------------------------------------------------- --------------------------------------------------- -----------------------------------------------------
Restricted Funds
Residents amenities at
Read House 3,019 1,345 (3,581) - 783
Mobile Sight Centre 4,147 - - - 4,147
Brentwood Community
Hospital Project 3,312 - - - 3,312
Extended provision in
Chelmsford 4,160 - - - 4,160
Staff fund 734 3,008 (2,441) 300 1,601
Workplace Capacity
grant - 2,600 (2,600) - -
Infection control grant - 68,285 (68,285) - -
LFT grant - 12,400 (12,400) - -
----------------------------------------------------- ----------------------------------------------------- ----------------------------------------------------- ----------------------------------------------------- -----------------------------------------------------
15,372 87,638 (89,307) 300 14,003
----------------------------------------------------- ----------------------------------------------------- ----------------------------------------------------- ----------------------------------------------------- -----------------------------------------------------
£ 2,519,839 **£ 1,478,594 ** £ (1,471,195) - £ 2,527,238
================= ================= =================== ================= ==================

The general fund represents the free funds of the Charity which are not designated for a particular purpose.

ESSEX BLIND CHARITY

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 APRIL 2021

18 MOVEMENT IN FUNDS - continued

Expenditure Transfers
Balance at Incoming including between Balance at
1 May 2019 resources gains/(losses) funds 30 April 2020
£ £ £ £ £
Unrestricted Funds
General fund 277,759 1,411,053 (1,447,453) 22,828 264,187
Designated funds
Essex support 5 year
plan 300,000 - - - 300,000
Read House 10,504 1,108 (3,612) - 8,000
Essex support exit
strategy fund 25,000 - - - 25,000
Investment revaluation
reserve 62,450 - (55,170) - 7,280
Designated property
asset fund 1,900,000 - - - 1,900,000
----------------------------------------------------- ----------------------------------------------------- ----------------------------------------------------- ----------------------------------------------------- -----------------------------------------------------
2,575,713 1,412,161 (1,506,235) 22,828 2,504,467
----------------------------------------------------- ----------------------------------------------------- ----------------------------------------------------- --------------------------------------------------- -----------------------------------------------------
Restricted Funds
Residents amenities at
Read House 3,334 70 (385) - 3,019
Mobile Sight Centre - 24,147 - (20,000) 4,147
Kitchen project - 2,828 - (2,828) -
Brentwood Community
Hospital Project - 3,974 (662) - 3,312
Extended provision in
Chelmsford - 4,992 (832) - 4,160
iCBF - 2,482 (2,482) - -
Staff fund 95 639 - - 734
----------------------------------------------------- ----------------------------------------------------- ----------------------------------------------------- ----------------------------------------------------- -----------------------------------------------------
3,429 39,132 (4,361) (22,828)
15,372
----------------------------------------------------- ----------------------------------------------------- ----------------------------------------------------- ----------------------------------------------------- -----------------------------------------------------
£ 2,579,142 £ 1,451,293 £ (1,510,596) - £ 2,519,839
================= ================= =================== ================= ==================

The general fund represents the free funds of the Charity which are not designated for a particular purpose.

ESSEX BLIND CHARITY

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 APRIL 2021

18 MOVEMENT IN FUNDS - continued

Essex support 5 year plan fund is to provide half the cost of the community services over a five year period, in order to attract matching grant funding for the balance.

Essex support exit strategy fund is a worse case scenario and the cost of ceasing the community services altogether.

The Read House fund represents donations received in memory of residents of the House. These are set aside by the Charity to be used for resident amenities.

The investment revaluation reserve represents cumulative realised and unrealised investment gains and losses on investments.

The designated property asset fund is represented by the fair value of the freehold property owned by the Charity.

Residents amenities fund represents funds raised specifically for residents’ amenities (entertainment, outings, etc). The staff fund represents donations for the staff at Read House.

The Mobile Sight Centre project relates to funding received from Colchester Catalyst and the Saffron Building Society Fund, the vehicle was purchased by the year end but other capital works are yet to be carried out.

The Kitchen Project relates to funding received from Colchester Catalyst and was complete in the prior year.

The Extended Provision in Chelmsford fund relates to a grant from The Yellow Car Charitable Fund for sight services.

The Brentwood Community Hospital project relates to a grant from The Malcolm and Beryl Cook Foundation and is being carried out jointly with the Blind and Visual Sight Impaired Society (BASIS)

The staff fund represents money received to be used directly for the benefit of individuals employed by the charity.

The workplace capacity grant is to support new expenditure that delivers additional staff capacity.

The infection control grant is to provide funding to improve infection control and therefore reduce the rate of Covid-19 transmission.

The LFT grant (adult social care rapid testing fund) is to support additional rapid testing of staff in care homes and to support visiting professionals and enable indoors, close contact visiting where possible.

ESSEX BLIND CHARITY

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 APRIL 2021

19 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible Net
fixed current 2021
assets Investments assets Total
£ £ £ £
Restricted funds - - 14,003 14,003
Unrestricted funds 1,936,592 500,295 76,348 2,513,235
----------------------------------------------------- ----------------------------------------------------- ---------------------------------------------------- -----------------------------------------------------
£ 1,936,592 £ 500,295 £ 90,351 £ 2,527,238
================= ================= ================= =================
Tangible Net
fixed current 2020
assets Investments assets Total
£ £ £ £
Restricted funds - - 15,372 15,372
Unrestricted funds 1,937,179 501,010 66,278 2,504,467
----------------------------------------------------- ----------------------------------------------------- ---------------------------------------------------- -----------------------------------------------------
£ 1,937,179 £ 501,010 £ 81,650 £ 2,519,839
================= ================= ================= =================

20 OPERATING LEASES

At 30 April 2021 the total commitments under non-cancellable operating leases were as follows:

2021 2020
£ £
Expiry date:
Within one year 28,663 28,663
Between two and five years 64,781 80,748
Later than five years - 12,696
---------------------------------------------------- ----------------------------------------------------
£ 93,444 £ 122,107
================= =================

During the year, the Charity incurred expenditure of £16,210 (2020 : £16,832) relating to operating leases.

21 CONTROLLING PARTY

The Charitable Company was under the control of the trustees during the year.

ESSEX BLIND CHARITY

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 APRIL 2021

22 RELATED PARTY TRANSACTIONS

No related party transactions incurred during the year (2020 : None).