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← Surrey Association For Visual Impairment

2024-03-31-accounts

Charity registration number 1121949

Company registration number 06309405 (England and Wales)

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr R Turnbull
Mr S Wherry
Mrs C Wilmshurst - Chair
Mr R Gilmore
Mrs M Da Silva Skinner
Ms C Shevlin
Mrs P Gunn
Mr G Lewis - Honorary Treasurer
Mr B Green
Ms B Halliday
Mr D Liversidge
Mr S Plowman
Mr A Scarrott (Appointed 19 December 2023)
Secretary and Chief Executive Ms C Burgess
Charity number 1121949
Company number 06309405
Principal address Rentwood
School Lane
Fetcham
Leatherhead
Surrey
KT22 9JX
Registered office Rentwood
School Lane
Fetcham
Leatherhead
Surrey
KT22 9JX
Auditor Warner Wilde Limited
4 Marigold Drive
Bisley
Surrey
United Kingdom
GU24 9SF

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

CONTENTS

Page
Trustees report 1 - 11
Statement of trustees responsibilities 12
Independent auditor's report 13 - 16
Statement of financial activities 17
Balance sheet 18 - 19
Statement of cash flows 20
Notes to the financial statements 21 - 40

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their annual report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements 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 2019).

Legal and Administrative Status

The Surrey Voluntary Association for the Blind was founded on 24[th] February 1922.

The Association was formally registered as a charity in 1961: number 200068. The Association’s trustees had the legal status of an unincorporated association of persons and the governing instruments under which it operated comprised a constitution, which was adopted on 16 October 1974 and amended in October 1998. At an Extraordinary General Meeting following consultation with staff, volunteers and members, the Association voted to change its name to the Surrey Association for Vision Impairment (SAVI). The change of name was approved and registered by the Charity Commission (Ref: OC-G270573-CD (Ldn) dated 13 March 2002).

Incorporation on 11[th] July 2007 led to a change of charity number to 1121949 and the addition of a company registration 06309405. The charity’s focus remained on vision impaired adults and children, and those with a combined sight and hearing loss, in the administrative county of Surrey. The charity’s governing instruments are now encapsulated in Articles of Association.

Trustees approved a resolution to adopt the trading name of Sight for Surrey on 8th January 2014, which was registered by the Charity Commission (Ref:LC/1121949/FC) dated 31st January 2014). The organisation became pan-sensory, to support people who are Deaf, hard of hearing, blind, partially sighted, and deafblind, and uses the name Sensory Services by Sight for Surrey to reflect this. This pan-sensory focus followed the Local Authority awarding the Combined Sensory Contract to the charity in 2016.

Connected Charities and Companies

There are no connected Charities or Companies.

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Objectives and activities

Trustees reviewed and refreshed the Centenary Strategy, and in doing so, set the strategic direction for the charity through until 2027. People who we support, volunteers, and our staff, were involved in writing the refreshed strategy.

The new strategy sets out our intentions to continue to build on our work as a pan-sensory charity, to enable and empower more people, and to lay solid foundations for the future by developing the infrastructure of the charity and our ways of working.

Sensory Services by Sight for Surrey Strategy 2023 – 2027

Our Vision

Our vision is an inclusive Surrey, where people who are Deaf, hard of hearing, blind, partially sighted, and deafblind, can live life with freedom, choice, and respect.

Our Mission

Our mission is to empower and enable people to achieve their goals, overcome barriers and obstacles, and have the skills and confidence to navigate life. We offer expert support, services, and advice across Surrey delivering our work in homes, communities, and from our main office hub.

At the heart of our mission lies a deep commitment to equality. We advocate for accessibility and inclusion, to ensure that people who are Deaf, hard of hearing, blind, partially sighted, and deafblind can lead full and independent lives. We work in partnership with the people we support, and collaborate with families, professionals, and community partners.

Our Values

Our Strategic Objectives

  1. Remove barriers to enable every Deaf, hard of hearing, blind, partially sighted, and deafblind person in Surrey to overcome challenges to live full and independent lives.

  2. Enable more people, faster, to achieve their aspirations and goals.

  3. Ensure people with sensory impairment and the Deaf community have the support they need to use technology and artificial intelligence (AI)

  4. Set our charity up for the future by building capacity, capability, efficiency, and resilience.

10 Strategic Goals sit below these over-arching objectives, and these are phased for delivery through to 2027.

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Performance monitoring

Performance against the strategy and contracts is monitored by the Senior Management Team and reported to the Services Committee, the Board, and our Local Authority and NHS Commissioners.

Operational service delivery is grouped into three departments covering Adult Services, Children and Young People’s Services, and Charity Services.

The Adult Services Department delivers the comprehensive Surrey County Council multi-sensory contract and the intent of our strategy. It oversees our specialist work, encompassing services and support for people who are Deaf, hard of hearing, vision impaired, and deafblind. We maintain a lead position in terms of our professional standing in Surrey and beyond through workshops, events, and representation on national bodies. We have sustained this position in the face of increasing financial pressure on local authorities by finding ways to work differently and adapting, modernising, and changing working practices.

Monitoring quality assurance and service provision against contracts is achieved by quarterly reporting of statistics and outcomes to Surrey County Council Commissioning and Procurement, and by reporting to the County Council service user reference groups, Surrey Vision Action Group (SVAG) and the Hard of Hearing Forum, both facilitated by the Surrey Coalition of Disabled People.

Public Benefit

Sight and/or hearing impairment can occur to anyone, at any time in their lives. Sensory Services by Sight for Surrey is proud to have delivered services to the community of Surrey for more than a century. It has changed from a philanthropic blind society to one that combines professional service delivery to people with all sensory impairments, and the Deaf community, with an ethos of voluntary service. We remain committed to public service of the highest order.

We refer to the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future work.

Achievements and performance

Having previously been awarded the Queen’s Award for Voluntary Service, we were delighted to enjoy a visit from Her Royal Highness, The Duchess of Edinburgh, in April 2023. The charity was also able to nominate two volunteers to represent the charity at a Garden Party at Buckingham Palace in May 2023 to mark our achievement. The Garden Party was attended by Chair of Trustees Christine Wilmshurst, and Peter Rose, a Volunteer Driver.

We are delighted that Dame Judi Dench has kindly agreed to continue as our patron, following her coming on board during our Centenary Year.

The following summary outlines the level of services delivered and should be read in conjunction with our 2023 – 2024 Impact Report for further performance information and key achievements.

Service Delivery

Adult Services

Bev Bishop, Head of Adult Services, retired in May 2023. During the course of Bev’s working life, she has had a tremendous impact on the lives of people with sensory impairment, and with and for the Deaf community and we extend our sincere thanks to her. Diane Smith MBE joined the charity as Head of Adult Services in October 2023.

The Adult Services Department has worked hard over the last year to address the impact of the Covid-19 pandemic on our waiting lists for services and begun work to improve the customer journey into and through our services and support.

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Adult Services have experienced an increase in demand over the last year, when comparing year on year figures against 2022-2023. Some of the high level demand increases are summarised below:

It is a testament to the hard work of our teams that, despite this increased demand, the department has been able to reduce waits for some key services by making changes to the ways we work and identifying efficiencies.

Adult Services worked with other departments to refresh and relaunch the workshop day previously known as our Professional Seminar, and now known as the Breaking Down Barriers workshop. These workshops have been popular with people working in different organisations across the county, in all sectors, which has contributed towards the strategic objective to break down barriers to inclusion and access for people who are Deaf, hard of hearing, vision impaired, and those who are deafblind.

The Deaf Cafes have continued to grow in popularity, thanks to the hard work of the Deaf Services team, with Deaf people travelling from far and wide to come along, both to access support, support each other, and to have the opportunity to engage with a range of people invited in to provide presentations.

Adult Services, supported by a Better Care Fund (BCF) grant from Surrey Heartlands, have continued to deliver activities for the deafblind Friendship Group throughout the year, with activities on offer to suit all interests and needs with an average attendance of 35 participants per month.

Children and Young People's Services

The Children and Young People’s Service have continued to deliver the Habilitation Contract, working closely with our colleagues at Surrey County Council to ensure Children and Young people with a vision impairment, and those with multi-sensory impairment, are able to develop the skills they need to thrive, and to develop a conceptual understanding of the world around them.

The department have continued to deliver the Surrey County Council Short Breaks Contract, and a full programme of activities and groups for Children and Young People.

The Counselling Service for Children and Young People has had a busy year, not least due in part to the impact of the Covid-19 pandemic on the mental health and wellbeing of young people. The service allows us to support the needs of the whole family, including any sighted siblings, and parents, depending on who needs support.

Our Family Support Service has developed to enable opportunities for families to offer peer-support to each other, as well as to be supported by our Family Support Worker with a range of barriers and challenges.

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Charity Services

The Charity Services Department includes our Eye Clinic Liaison Officer (ECLO) team, our Resource Centre team, and our Access Technology team.

The Resource Centre continues to be as busy as ever, with over 350 people being seen in the centre this year, alongside the outreach activity the Resource Centre Manager undertakes.

The ECLO team, who work out of hospitals across Surrey, have helped over 1,000 people this year, at a time in their lives when they needed support the most. During this year, Justine Jasper, Head of Charity Services, was also involved in a national project, to work on the Eye Care Support Pathway with a small group of other Visionary members. This was an important opportunity to share the experiences of the pathway for people in Surrey on a national stage to influence change.

We continue to deliver the Low Vision Service at East Surrey Hospital (Surrey and Sussex NHS Trust).

We applied for the Thomas Pocklington Trust (TPT) and RNIB Internship grant programme, and consequently secured part funding towards an Artificial Intelligence (AI) Trailblazer internship. Our AI Trailblazer joined the charity in February 2023 and is already having a big impact in helping us to expand our technology training service for the people we support to make better use of AI to overcome accessibility barriers.

Community Engagement & Outreach

Our Community Engagement team launched a series of new Community Hubs across the county this year. Starting at the main office base in Fetcham, we then launched others in Oxted and New Haw. More locations will open throughout 2024. These events will give the people we support an opportunity to meet other local people, an opportunity to establish new friendships, and to reduce feelings of loneliness and social isolation.

The Community Engagement and Outreach team continue to visit all the community centres, community groups, care homes and health professionals and to continue to signpost people to our services and grow our supporter base.

Fundraising

The fundraising team had a successful year continuing to grow our Trusts and Grant income and building relationships with local organisations including The Guildford Lions, St John’s School in Leatherhead, Bookham Food Festival, Shere Hill Climb, Chobham Golf Club and many WI, Rotary and other community groups.

We are very grateful for all the donations and grants we received this year including restricted donations from:

We were also the beneficiary of a large legacy for which we are very grateful. This legacy will enable key elements of our revised strategy to be delivered over the next three years.

Sensory Services by Sight for Surrey raised the following amounts through the fundraising programme this year:

Donation income: £267,073 Restricted grant income: £133,802 Legacy income: £273,800 Total £674,675 of which £228,800 was moved to reserves.

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Volunteering

As of March 2024, we had 137 active volunteers regularly giving their time to allow us to empower and enable the people we support. We continue to grow our volunteers, aiming to increase the number of roles each volunteer covers within the organisation where possible.

Volunteers help the people we support through a variety of roles – our home visitors and telephone befrienders help combat social isolation, whilst the driver roles allow people to access the Resource Centre, our Access Technology Trainer, AI Trailblazer or take people to our new Meet Up Catch Ups. Our Technology Volunteers support individuals within the home to set up new laptops, Alexa devices or help install new software. All our roles help the people we support feel less isolated and through feedback they give, we see a massive impact our volunteers make to support the work we do.

One of our Young Ambassadors received a Coronation Champions Award and attended the Coronation Concert at Windsor Castle. Two of our volunteers attended a garden party at Buckingham Palace.

Communications and Public Relations

Our Communications Officers continue to develop our media and engagement strategy to raise the profile of Sensory Services by Sight for Surrey. The Royal Visit attracted widespread media coverage in the national and regional press. National media highlights includes Hello Magazine, The Daily Mail, www.royal.uk (official website of the Royal family) and The Times.

Our Digital Storytelling Officer has made a huge impact on our social media work and has increased followers across our channels by 15%.

We have appeared on BBC Radio Surrey and Surrey Hills Radio, as well as been in many local publications including the Surrey Mirror, Oxted Local and Vantage Magazines.

Our Signpost magazine is sent to over 6,000 people including our volunteers, supporters, and community organisations twice a year in a variety of formats including Braille, British Sign Language, large print, audio, and email. Signpost is also accessible via Amazon Alexa for people who prefer to get the news in audio format via their home smart speaker.

An e-news communication is sent to over 2,000 people every month.

Financial Review

It is confirmed that the company’s assets are available and adequate to fulfil the obligations of the charity within its general funds and within each of its designated and restricted funds. Attached are the audited financial statements including detailed explanatory notes.

Sight for Surrey’s annual operational result was an audited surplus of £141,709 (2023: £101,914). Our investments returned a surplus/(loss) of £70,544 (2023: £(60,901)), giving a net movement in funds of plus £204,597 (2023: £41,013).

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Sight for Surrey Reserves

At the close of the financial year 2023/24, our reserves were £1,848,743 (2023: £1,644,146).

We maintain reserves adequate to:

a. Meet the obligations required by funders and donors through restricted funding

b. Underpin existing projects within business plan which are only partially funded or unfunded in the medium term c. Cover the cost of a possible property purchase and relocation costs d. Meet statutory and operational requirements in the event of the closure or downsizing of the charity

e. Guard against unforeseen financial pressures

The following definitions apply to Sight for Surrey’s Reserve Statement:

Restricted Funding - This funding comprises legacy or other funding given to Sight for Surrey and dedicated to a specific purpose, and may not be used otherwise.

Designated Funds - This funding underpins existing projects in the medium term until full sustainable funding can be achieved or the project ends. Provision is also made under designated funds to ring fence funding for major, usually capital projects.

Free and Available Reserve - There is the option for trustees to establish additional reserves to ensure that the charity is adequately staffed and able to expand into areas of need. Maintain free and available reserves to cover unforeseen contingencies.

Reserves Overview

Reserves Overview
Restricted funds: £68,477
Designated funds:
Investment reserve £100,000
Operational reserve £750,000
Capital Expenditure reserve £40,000
Property reserve £500,000
Professional training reserve £98,800
Recruitment reserve £31,800
Isolation in older people reserve £30,000
Legacy projects reserve £100,000
Legacy income protection reserve £100,000
£1,750,600
Free reserves: £29,666

Total Reserves (Restricted, Designated, and Free Reserves) £1,848,743

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Investment Policy

The Trustees follow a diversified investment approach to ensure that the charity is not over exposed to the risks associated with individual asset classes or fund managers. The Finance Committee is mandated to proactively monitor the portfolio within the investment policy guidelines with a view to achieving stable growth over the long term. Formal quarterly review meetings and monitoring are in place where allocation levels between cash and equity investments, both new and existing, are discussed and changes actioned. At least annually, the investments portfolio and performance is reviewed with fund managers.

Ethical Investment

Sight for Surrey seeks to follow the guidance on ethical investment provided by the Charity Commission in the Basic Principles of Detailed Guidance for the investment of charitable funds. Accordingly, the Trustee Board agreed and implemented investment principles in order to achieve, via its providers, maximum return from a set of investments which have been selected prudently. Our ethical investment policy is intended to be entirely consistent with the duty to secure maximum returns from the investment of charitable funds. However, in accordance with Charity Commission guidelines it is possible to avoid investments in particular businesses which result in conflict with Sight for Surrey’s charitable aims and we will therefore not invest in any company whose major business activity or focus is tobacco products.

At the Balance Sheet date, 31st March 2024 the investments held by Sight for Surrey were:

Fund Manager: Market Value (£):
Current year:
 Previous year:
Charity Aid Foundation Deposit Fund 375,800 320,000
Rathbones Investment Managers 1,060,570 997,683
Total investments
1,436,370
 1,317,683

Grants Policy

From time to time Sight for Surrey makes a small grant to a club and other social outlets for the people we support.

Risk Management

Trustees are satisfied that there are procedures in place to identify major risks. The charity is aware of the provisions of the Charities SORP (FRS 102) (2019). Major risks to which the charity is exposed, as identified by the Trustees, are regularly reviewed and systems have been established to mitigate those risks.

Trustees review and evaluate the Risk Register covering all ‘risks’ to which the charity could be exposed and receive a brief from the Chief Executive on the appropriate grading and action taken to manage them. The Full Risk Register is updated and reviewed quarterly by the Finance and Investment Committee. The top 5 risks are identified and presented quarterly to all Trustees at the Board Meeting, and the full Risk Register is shared with all Trustees annually.

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

The full list of key potential risks as assessed in March 2024 was:

Structure, governance and management

The Trustees are responsible for keeping adequate accounting records sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of the financial statements were:

Mr R Turnbull Mr S Wherry Mrs C Wilmshurst - Chair Mr R Gilmore Mrs M Da Silva Skinner Ms C Shevlin Mrs P Gunn Mr G Lewis - Honorary Treasurer Mr B Green Ms B Halliday Mr D Liversidge Mr S Plowman Mr A Scarrott (Appointed 19 December 2023)

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Election and Appointment of Trustees

Trustees are recruited by an open recruitment process, with vacancies advertised by local Volunteer Bureaus, on national recruitment websites, and to the people who use our services and support. Trustee Appointments Panels are established as needed for trustee recruitment and interview. Trustees are appointed for periods of four years and retire by rotation in accordance with the terms of the articles of association. At each annual general meeting, one quarter of the Board retires from office and are eligible for re-election. The Chair is elected for a two year term.

The people we support and the County Council service user reference groups, Surrey Vision Action Group (SVAG), Surrey Deaf Community and the Hard of Hearing Forum, all facilitated by the Surrey Coalition of Disabled People, provide valuable feedback to Trustees about the impact of our services.

Governance

Sight for Surrey is overseen by no more than 15 Trustees who form the Trustee Board. They meet quarterly. As of 31[st] March 2024, there were 13 trustees, 8 of whom have lived experience of sensory impairment, Deafness, or as a carer, which represents over 60% of the Trustee Board. Two trustees are vision impaired; one has a child with vision impairment, one is a profoundly Deaf British Sign Language (BSL) user, one is Hard of Hearing, and three have combined sight and hearing loss and are deafblind.

Organisational structure

Trustees undergo induction and training and are given opportunities to acquaint themselves with the work of the charity. Trustees are encouraged to take an interest in a particular aspect of the work of the organisation and are expected to join one or more of the Committees.

Board Committees

The Finance and Investment Committee meets quarterly to deal with all financial, investment, and risk aspects of the charity’s operations and makes recommendations to the Trustee Board.

The Services Committee monitors service delivery, and analyses and reviews operational work, along with emerging needs from the people we support, with senior managers.

The Fundraising Committee oversees our fundraising plans, activities, and performance.

In accordance with the Articles of Association, each Committee meets on a quarterly basis.

Senior Management Team

Senior managers work with the Chief Executive in a Senior Management Team, and this is extended to work with other managers as appropriate.

Full staff meetings are held in-person twice per year, with staff meeting in teams and departments throughout the year, often utilising video conferencing to do so.

The charity has no legal relationship with any other related charity in the pursuance of its mission but has a guiding principle of working in partnership with all organisations that can help deliver the strategic objectives.

Auditor

In accordance with the company's articles, a resolution proposing that Warner Wilde Limited be reappointed as auditor of the company will be put at a General Meeting.

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Acknowledgements

Finally, the Trustees again offer their thanks and appreciation to Sight for Surrey staff and volunteers for their continued loyalty, hard work and support. In addition, a sincere thank you to all those who provide the charity with funds, through donations, grants or sponsorship and gifts in kind which enables us to fulfil our mission to enable and empower people with sensory impairment, and the Deaf community, in Surrey.

In approving the Trustees’ Report, the Trustees are also approving the Directors’ Report in their capacity as company directors.

The trustees report was approved by the Board of Trustees and is signed for and on behalf of the Trustees of Sight for Surrey.

.............................. Mrs C Wilmshurst - Chair Mrs C Wilmshurst - Chair

Date: ............................................. Date: 230— (\eevelee. Ac ees

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

STATEMENT OF TRUSTEES RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2024

The Trustees (who are also directors of Sight for Surrey for the purposes of company law) are responsible for preparing the report of the trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires trustees to prepare financial statements for each financial year. Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and the result of the charity for that period. The Board of Trustees are responsible for ensuring that the Charity:

The Trustees are responsible for keeping adequate accounting records sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

Opinion

We have audited the financial statements of Surrey Association for Visual Impairment (the ‘charity’) for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. 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 charity 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 charity’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.

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 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

Responsibilities of trustees

As explained more fully in the statement of trustees responsibilities, the trustees, who are also the directors of the charity for the purpose 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 charity’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.

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

•the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

•we identified the laws and regulations applicable to the charity through discussions with trustees and other management, and from our knowledge and experience of the charity sector;

•we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charity, the Charities Act 2011, taxation legislation, data protection, employment, environmental and health and safety legislation;

•we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and

•identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

•making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;

•considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and

•testing controls with walk through procedures and substantive transaction testing;

To address the risk of fraud through management bias and override of controls, we:

•assessed whether judgements and assumptions made in determining any accounting estimates were indicative of potential bias;

•investigated the rationale behind significant or unusual transactions; and

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF SURREY ASSOCIATION FOR VISUAL IMPAIRMENT Use of our report This report is made solely to the company's members, as a body, in accordance with section 391 of the Companies Act 2014. Our audit work has been undertaken so that we might state to Ihe company's members those matters we are réquired to state to them in an auditor's report and for no other purpose. To the fullest èxt8nt permitted by law, we do not accept or assume responsibility io anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. F J Wilde FCCA DChA (Senior Statutory Audltorl Warner Wilde Limited 20 L¥- Chartered Certified Accountants statutory Auditor 4 Marigold Drive Bisley Surrey United Kingdom GU24 9SF Warner Wilde Limited is eligible for appointment as auditor of tha charity by virtue of its eligibility for appoinlment as auditor of a company under section 1212 of the Companies Act 2006. 16-

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income and endowments from:
Donations and legacies
3
540,873
133,802
Charitable activities
4
2,495,663
-
Other trading activities
5
18,061
-
Investments
6
48,962
-
Other income
7
81,971
-
Total income
3,185,530
133,802
Expenditure on:
Raising funds
8
42,659
-
Charitable activities
9
2,988,268
154,352
Other expenditure
14
-
-
Total expenditure
3,030,927
154,352
Net gains/(losses) on
investments
15
70,544
-
Net income and movement in
funds
225,147
(20,550)
Reconciliation of funds:
Fund balances at 1 April 2023
1,555,119
89,027
Fund balances at 31 March
2024
1,780,266
68,477		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
674,675
256,018
157,911
2,495,663
2,392,053
-
18,061
15,400
-
48,962
23,839
-
81,971
51,389
-
3,319,332
2,738,699
157,911
42,659
24,993
-
3,142,620
2,614,465
147,117
-
8,121
-
3,185,279
2,647,579
147,117
70,544
(60,901)
-
204,597
30,219
10,794
1,644,146
1,524,900
78,233
1,848,743
1,555,119
89,027		 Total
2023
£
413,929
2,392,053
15,400
23,839
51,389
2,896,610
24,993
2,761,582
8,121
2,794,696
(60,901)
41,013
1,603,133
1,644,146

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

BALANCE SHEET

AS AT 31 MARCH 2024

Notes
Fixed assets
Tangible assets
17
Investments
18
Current assets
Stocks
19
Debtors
20
Cash at bank and in hand
Creditors: amounts falling due within
one year
21
Net current assets
Total assets less current liabilities
Provisions for liabilities
21
Net assets
Income funds
Restricted funds
25
Unrestricted funds
26
Designated funds
General unrestricted funds		 2024
£
£
54,455
1,436,370
1,490,825
56,100
79,964
498,116
634,180
(256,962)
377,218
1,868,043
(19,300)
1,848,743
68,477
1,750,600
29,666
1,780,266
1,848,743		 2023
£
£
38,497
1,317,683
1,356,180
56,791
87,087
423,402
567,280
(258,846)
308,434
1,664,614
(20,468)
1,644,146
89,027
1,541,800
13,319
1,555,119
1,644,146

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2024

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024, although an audit has been carried out under section 144 of the Charities Act 2011.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on ......................... Pett [\necdne. RoBY

..............................

Mrs C Wilmshurst Mrs C Wilmshurst Trustee Trustee

Company registration number 06309405

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024

2024
Notes
£
Cash flows from operating activities
Cash generated from/(absorbed by)
operations
31
Investing activities
Purchase of tangible fixed assets
(34,515)
Purchase of investments
(361,334)
Proceeds from disposal of investments
313,191
Investment income received
48,962
Net cash used in investing activities
Net cash used in financing activities
Net increase/(decrease) in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2023
£
£
£
108,407
(85,034)
(25,141)
(441,113)
134,970
23,839
(33,696)
(307,445)
-
-
74,711
(392,479)
423,402
815,881
498,116
423,402

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Charity information

Surrey Association for Visual Impairment is a private company limited by guarantee incorporated in England and Wales. The registered office is Rentwood, School Lane, Fetcham, Leatherhead, Surrey, KT22 9JX.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment 10% straight line Fixtures and fittings 10% straight line Office and computer equipment 25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.10 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.11 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.12 Provisions

Provisions are recognised when the charity has a legal or constructive present obligation as a result of a past event, it is probable that the charity will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in net income/(expenditure) in the period in which it arises.

1.13 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.14 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Donations and gifts
145,531
-
Legacies
273,800
-
Grants
121,542
133,802
540,873
133,802		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
145,531
86,554
-
273,800
15,500
-
255,344
153,964
157,911
674,675
256,018
157,911		 Total
2023
£
86,554
15,500
311,875
413,929

4 Income from charitable activities

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Charitable activities
Sales within charitable activities 97,934 111,708
Services provided under contract 2,056,361 1,952,675
Sales of services by beneficiaries 341,368 327,670
2,495,663 2,392,053

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

5 Income from other trading activities

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Fundraising events 18,061 15,400
6 Income from investments
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Other income 27,657 22,079
Interest receivable 21,305 1,760
48,962 23,839
7 Other income
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Other income 871 1,512
Access to Work 81,100 49,877
81,971 51,389

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

8 Expenditure on raising funds

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Fundraising and publicity
Staging fundraising events 20,318 17,763
Publicity Costs 14,379 6,316
Other fundraising costs 306 500
35,003 24,579
Trading costs
Other trading activities - 414
Investment management 7,656 -
Total costs 42,659 24,993

In addition to the fundraising costs in this note, £78,105 salary costs and £11,697 other costs are fundraising costs which are part of the ‘fundraising and engagement’ charitable activity in note 9. Total fundraising costs are therefore £124,805. Engagement activity in Note 9 includes Outreach Support, Community Engagement, Volunteering, and Communications.

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

9 Expenditure on charitable activities

Adult
Combined
Sensory
Communicat
or Guides
Interpreting Fundraising
&
Engagement
2024
2024
2024
2024
£
£
£
£
Direct costs
Staff costs
738,425
224,769
39,768
301,982
Depreciation and impairment
2,244
-
-
-
Charitable expenditure
453,962
40,013
70,027
68,453
1,194,631
264,782
109,795
370,435
Share of support and governance costs (see note 10)
Support
299,007
23,489
23,489
82,211
Governance
3,627
797
797
2,790
1,497,265
289,068
134,081
455,436
Analysis by fund
Unrestricted funds
1,342,913
289,068
134,081
455,436
Restricted funds
154,352
-
-
-
1,497,265
289,068
134,081
455,436		 Welfare
Benefits
2024
£
85,807
-
3,516
89,323
29,361
996
119,680
119,680
-
119,680		 Charity
Services
Children &
Young
People
2024
2024
£
£
160,902
236,991
-
-
56,297
53,256
217,199
290,247
76,338
58,722
2,591
1,993
296,128
350,962
296,128
350,962
-
-
296,128
350,962		 Total
2024
£
1,788,644
2,244
745,524
2,536,412
592,617
13,591
3,142,620
2,988,268
154,352
3,142,620

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

9 Expenditure on charitable activities

(Continued)

Previous year:
Adult
Combined
Sensory
Communicat
or Guides
Interpreting Fundraising
&
Engagement
2023
2023
2023
2023
£
£
£
£
Direct costs
Staff costs
1,020,727
201,300
14,152
217,041
Charitable expenditure
196,804
33,235
51,807
39,439
1,217,531
234,535
65,959
256,480
Share of support and governance costs (see note 10)
Support
254,130
20,330
20,330
71,156
Governance
9,787
783
783
2,740
1,481,448
255,648
87,072
330,376
Analysis by fund
Unrestricted funds
1,334,331
255,648
87,072
330,376
Restricted funds
147,117
-
-
-
1,481,448
255,648
87,072
330,376		 Welfare
Benefits
2023
£
45,397
4,206
49,603
25,413
979
75,995
75,995
-
75,995		 Charity
Services
Children &
Young
People
2023
2023
£
£
92,161
220,975
42,385
54,121
134,546
275,096
66,074
50,826
2,544
1,957
203,164
327,879
203,164
327,879
-
-
203,164
327,879		 Total
2023
£
1,811,753
421,997
2,233,750
508,259
19,573
2,761,582
2,614,465
147,117
2,761,582

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

10 Support costs allocated to activities

Staff costs
Depreciation
Other staff costs
Repairs and maintenance
Travelling and subsistence
Office costs
Marketing costs
Rent and utilities
Computer costs
Bank charges
Insurance
Governance costs
Analysed between:
Adult Combined Sensory
Communicator Guides
Interpreting
Fundraising & Engagement
Welfare Benefits
Charity Services
Children & Young People
Governance costs comprise:
Audit fees
Legal and professional
Under accrual of audit fees 2022
Events - other costs
11
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements
Depreciation of owned tangible fixed assets		 2024
£
312,107
16,310
36,392
1,889
4,475
84,051
6,971
62,714
58,409
2,139
7,160
13,591
606,208
302,634
24,286
24,286
85,001
30,357
78,929
60,715
606,208
2024
£
8,000
2,434
-
3,157
13,591
2024
£
8,000
18,554		 2023
£
256,270
14,733
30,963
13,159
5,481
59,598
9,020
58,001
44,939
1,412
14,683
19,573
527,832
263,917
21,113
21,113
73,896
26,392
68,618
52,783
527,832
2023
£
7,620
4,155
7,798
-
19,573
2023
£
7,620
16,539

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

12 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

13 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
2024 2023
Number Number
110 119
Employment costs 2024 2023
£ £
Wages and salaries 1,847,003 1,800,392
Social security costs 127,571 144,955
Other pension costs 126,177 122,676
2,100,751 2,068,023
The number of employees whose annual remuneration was more than £60,000
is as follows:
2024 2023
Number Number
£60,001 - £70,000 1 -
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
2024 2023
£ £
Aggregate compensation 350,244 324,653
14 Other expenditure
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Other expenditure - 8,121

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

15 Gains and losses on investments

Unrestricted Unrestricted
funds funds
2024 2023
Gains/(losses) arising on: £ £
Revaluation of investments 70,544 (60,901)

16 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

17 Tangible fixed assets

Plant and
equipment
Fixtures and
fittings
Office and
computer
equipment
£
£
£
Cost
At 1 April 2023
13,439
375
142,242
Additions
12,478
863
21,174
Disposals
-
-
(33,174)
At 31 March 2024
25,917
1,238
130,242
Depreciation and impairment
At 1 April 2023
7,311
375
109,876
Depreciation charged in the year
2,581
86
15,887
Eliminated in respect of disposals
-
-
(33,174)
At 31 March 2024
9,892
461
92,589
Carrying amount
At 31 March 2024
16,025
777
37,653
At 31 March 2023
6,128
-
32,369		 Total
£
156,056
34,515
(33,174)
157,397
117,562
18,554
(33,174)
102,942
54,455
38,497

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

18 Fixed asset investments

Listed
investments
Unlisted
investments
£
£
Cost or valuation
At 1 April 2023
961,162
320,000
Additions
105,534
255,800
Valuation changes
70,544
-
Cash movement
-
-
Disposals
(83,167)
(200,000)
At 31 March 2024
1,054,073
375,800
Carrying amount
At 31 March 2024
1,054,073
375,800
At 31 March 2023
961,162
320,000
19
Stocks
Finished goods and goods for resale
20
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
21
Creditors: amounts falling due within one year
Notes
Other taxation and social security
Deferred income
23
Trade creditors
Other creditors
Accruals		 Cash in
portfolio
£
36,521
-
-
(30,024)
-
6,497
6,497
36,521
2024
£
56,100
2024
£
27,473
19,517
32,974
79,964
2024
£
38,011
13,909
30,212
19,958
154,872
256,962		 Total
£
1,317,683
361,334
70,544
(30,024)
(283,167)
1,436,370
1,436,370
1,317,683
2023
£
56,791
2023
£
54,596
2,337
30,154
87,087
2023
£
33,686
17,958
21,822
15,955
169,425
258,846

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

22
Provisions for liabilities
Retirement Benefit Obligations
Movements on provisions:
At 1 April 2023
Reversal of provision
At 31 March 2024
23
Deferred income
Other deferred income
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities
Movements in the year:
Deferred income at 1 April 2023
Released from previous periods
Resources deferred in the year
Deferred income at 31 March 2024
24
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 2024
2023
£
£
19,300
20,468
Retirement
Benefit
Obligations
£
20,468
(1,168)
19,300
2024
2023
£
£
13,909
17,958
2024
2023
£
£
13,909
17,958
17,958
128,705
(17,958)
(128,705)
13,909
17,958
13,909
17,958
2024
2023
£
£
126,177
122,676

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

25 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 April Incoming Resources At 31 March
2023 resources expended 2024
£ £ £ £
Children's Project - BBC Children in Need 6,215 - (6,215) -
Surrey Downs Better Care Fund 31,950 - (31,950) -
The National Lottery Community Fund -
RC London and South East Region 50,862 63,977 (49,362) 65,477
Walton Charity - 3,000 - 3,000
Community Foundation - Woking Council
Community Fund 23-24 - 1,500 (1,500) -
Surrey Heartlands Workforce Alliance
Innovation Fund - 17,400 (17,400) -
Smart Energy GB in Communities Fund - 14,985 (14,985) -
South Western Railway Customer and
Community Fund - 32,940 (32,940) -
89,027 133,802 (154,352) 68,477
89,027 133,802 154,352 68,477
Previous year: At 1 April Incoming Resources At 31 March
2022 resources expended 2023
£ £ £ £
Children's Project - BBC Children in Need 8,221 22,536 (24,542) 6,215
Surrey Downs Better Care Fund 34,500 - (2,550) 31,950
The National Lottery Community Fund -
RC London and South East Region - 101,725 (50,863) 50,862
Walton Charity - 3,000 (3,000) -
The National Lottery Community Fund 18,095 - (18,095) -
Community Foundation, NHS Charities
Together 8,717 24,650 (33,367) -
Community Foundation for Surrey - The
Peter Harrison Fund 3,000 - (3,000) -
The Sobell Foundation 4,200 - (4,200) -
The John Coates Charitable Trust 1,500 - (1,500) -
London Borough of Hounslow Thriving
Communities Fund - 5,000 (5,000) -
Community Foundation for Surrey -
Carrington family Trust Fund - 1,000 (1,000) -
78,233 157,911 147,117 89,027
78,233 157,911 147,117 89,027

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

25 Restricted funds

(Continued)

Children’s Project - BBC Children in Need – To provide support for children who are blind, vision impaired or have combined sight and hearing loss.

Surrey Downs Better Care Fund – To increase social and recreation programmes to reduce isolation for people in Surrey with a sensory impairment or from the Deaf Community.

The National Lottery Community Fund - RC London and South East Region – To support additional services for ECLO, Access Technology, Admin & Data Support, and Children's Family Support.

Walton Charity - To support our ECLO and Hearing Loss Advisor services.

Community Foundation - Woking Council Community Fund 23-24 - To support our Benefit Service

Surrey Heartlands Workforce Alliance Innovation Fund (Received 19/04/2023) - To fund the Digital Storytelling Officer post.

Smart Energy GB In Communities Fund - To fund Communication and Smart Meter Project.

South Western Railway Customer and Community Fund 23-24 - To support our Sensory Inclusion Project lead.

The National Lottery Community Fund – To support our additional services for ECLO, Access Technology, Admin & Data Support, and Children’s Family Support.

Community Foundation, NHS Charities Together – To support our ECLO and hard of hearing services.

Community Foundation for Surrey - The Peter Harrison Fund – To provide counselling for blind, vision impaired and children with dual sensory loss and their families.

The Sobell Foundation – To support the ECLO service.

The John Coates Charitable Trust – To support the ECLO service.

London Borough of Hounslow Thriving Communities Fund – To support various additional services such as ECLO, Let's Talk Tech, coffee and cake events.

Community Foundation for Surrey, Carrington Family Trust Fund – To support the ECLO service.

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

26 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

Investment
Reserve
Operational
Reserve
Property
Reserve
Professional
Training
Reserve
Legacy Income
Protection
Reserve
Recruitment
Reserve
Isolation in
Older People
Reserve
Capital
Expenditure
Reserve
Legacy Projects
Reserve
General funds		 At 1 April
2023
Incoming
resources
Resources
expended
£
£
£
100,000
-
-
750,000
-
-
500,000
-
-
90,000
-
-
-
-
-
31,800
-
-
30,000
-
-
40,000
-
-
-
-
-
13,319
3,185,530
(3,030,927)
1,555,119
3,185,530
(3,030,927)		 Transfers
Gains and
losses
At 31 March
2024
£
£
£
-
-
100,000
-
-
750,000
-
-
500,000
8,800
-
98,800
100,000
-
100,000
-
-
31,800
-
-
30,000
-
-
40,000
100,000
-
100,000
(208,800)
70,544
29,666
-
70,544
1,780,266

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

26
Unrestricted funds
Previous year:
Investment
Reserve
Operational
Reserve
Property
Reserve
Professional
Training
Reserve
COVID
Resilience
Reserve
Recruitment
Reserve
Children's
Services
Reserve
Isolation in
Older People
Reserve
Capital
Expenditure
Reserve
General funds		 At 1 April
2022
Incoming
resources
Resources
expended
£
£
£
100,000
-
-
650,000
-
-
500,000
-
-
90,000
-
-
50,000
-
-
45,000
-
-
50,000
-
-
30,000
-
-
-
-
-
9,900
2,738,699
(2,647,579)
1,524,900
2,738,699
2,647,579		 (Continued)
Transfers
Gains and
losses
At 31 March
2023
£
£
£
-
-
100,000
100,000
-
750,000
-
-
500,000
-
-
90,000
(50,000)
-
-
(13,200)
-
31,800
(50,000)
-
-
-
-
30,000
40,000
-
40,000
(26,800)
(60,901)
13,319
-
(60,901)
1,555,119

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

26 Unrestricted funds

(Continued)

Investment Reserve - This reserve represents 10% of the value of investments to allow adequate consideration for future possible fluctuations in the markets.

Operational Reserve - The operational reserves is to cover contingencies such as loss of major contract, closure or downsizing costs.

Property Reserve - To address the current and future expected repairs/development needs of the charity's premises.

Professional Training Reserve - A reserve to address the growing shortage of qualified professionals by supporting members of staff to achieve professional and other qualifications.

COVID Resilience Reserve - To fund the need to invest in additional IT hardware, servers, IT security and other software to facilitate remote and home working.

Recruitment Reserve - To enable the charity to fill vacancies by advertising and headhunting more widely in a tight labour market.

Children's Service Reserve - To ensure continuity in funding our children's activities in a period of uncertainty.

Isolation in Older People Reserve - To tackle the isolation suffered by people with sensory impairments which has been brought into sharp focus by the pandemic.

Capital Expenditure Reserve - To fund the replacement of computers and laptops coming to the end of their useful life.

Legacy Income Protection Reserve – A reserve to enable the Charity to plan the use of legacy income, whilst this income stream is in development and less predictable.

Legacy Strategic Projects Reserve - To fund key strategic projects.

27 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2024
2024
£
£
At 31 March 2024:
Tangible assets
54,455
-
Investments
1,436,370
-
Current assets/(liabilities)
308,741
68,477
Provisions
(19,300)
-
1,780,266
68,477		 Total
2024
£
54,455
1,436,370
377,218
(19,300)
1,848,743

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

27 Analysis of net assets between funds

Analysis of net assets between funds (Continued)
Unrestricted Restricted Total
funds funds
2023 2023 2023
£ £ £
At 31 March 2023:
Tangible assets 38,497 - 38,497
Investments 1,317,683 - 1,317,683
Current assets/(liabilities) 219,407 89,027 308,434
Provisions (20,468) - (20,468)
1,555,119 89,027 1,644,146

28 Financial commitments, guarantees and contingent liabilities

As a result of the award of the Children's Services Contract (1st April 2022) and the Adult's Service Contract (Updated February 2021), four employees are members of the Surrey Pension Fund (part of LGPS). Surrey County Council has accepted responsibility for all liabilities prior to 1st February 2016, and a fixed employer's contribution rate of 22% applies for the duration of the contracts. The charity has not accepted any risk arising from actuarial valuations made before, during or after the contract term. This issue was formally agreed with Surrey County Council in 2019 and an Admission Agreement signed.

A separate provision of £19,300 has been made in the financial year (2023: £20,468) for potential strain events which may arise.

29 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

30 Analysis of changes in net funds

The charity had no material debt during the year.

SURREY ASSOCIATION FOR VISUAL IMPAIRMENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

31
Cash generated from operations
Surplus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Fair value gains and losses on investments
Depreciation and impairment of tangible fixed assets
Movements in working capital:
Decrease/(increase) in stocks
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Increase in provisions
(Decrease) in deferred income
Cash generated from/(absorbed by) operations		 2024
2023
£
£
204,597
41,013
(48,962)
(23,839)
(70,544)
55,264
18,554
14,733
691
(663)
7,123
(15,309)
2,165
(31,158)
(1,168)
(14,328)
(4,049)
(110,747)
108,407
(85,034)