Regls¢er8d number. 07258623 Charity number.. 1136716 WORCESTERSHIRE ASSOCIATION FOR THE BLIND (A COMPANY LIMITED BY GUARANTEE) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Bishop Fleming WORCESTERSHIRE ASSOCIATION FOR THE BLIND IA COMPANY LIMtTED B Y GUARANTEEI CONTENTS Page Reference and Admini$trati¥e Details ot thè Charitable Company, Ils Trustees and Advisers Chaimi8n's Statement Trustees. Report lftdependent Exttminer's Report Statement of Flnancial Actlvlti¢s 3-11 12-13 14 Balance Sheet 1s- 16 Stat•menl of Cash Flows 17 Note5 to the Financial Statements 18-35 WORCESTERSHIRE ASSOCIATION FOR THE BLIND IA COMPANY LIMITED BY GUARANTEEI REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, Irs TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2021 Trustees C Wvigley, Chair (appointed 2 March 20211 H Shaw, VI￿ Chair lappoinled 2 March 20211 R Milford, Treasurer (appointed 2 March 2021 ES8aio S Shersda V Merrett E Mackenae P Mackenzie J McBride J Parsons Iresigned 2 March 20211 C J Tallents I￿$19ned 2 March 20211 l BoweTS Iresigned 2 Mar¢h 20211 C Orr (resigned 15 February 20211 Company registered number 07258623 Charity reglstered number 1136716 Reglstared offlce The 8radbury Centre 2 Sansome Walk Worcester VVR1 ILH Chlef Executive Offlcer M5 J Gage Indepéndent Examlner Btshop Fleming LLP Chartpred Accountants 1-3 College Yard Worc85ter WR12L8 Bankers CAF Bank 25 Kings Hill Avenue Kings Hill West Malling Kent ME194JQ Solicltor$ Thursfields Solicitors 9-10 The TYt￿ng Worcester WR7 IHD Page 1 WORCESTERSHIRE ASSOCIATION FOR THE BLIND IA COMPANY LIMITED BY GUARANTEEI CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2021 The chairman presents her statemenl for the year. l am delighted to have taken up this new role as Chair and to lead the Board driving forward our work for the blind and v15ually impaired in Worce51ershire. I have leamed so much in a short period of lirne and appreGiale some ol th8 significant challenges faced by our client5. We continue lo slrengthon our Board. H8zel Shaw joins us as Vice Chair and Rob Milford Js Treasurer. They have skills in finance, marketing and strategy and Hazel has considerable knowledge of our sector. As l only look up post in April 2021 1 must first of all thank Jon Parsons. my predecessor, for the significant contribution he has made lo Sight Concern Worcestershire during his len-year tenure. This was recognised re￿ntlY wh8n we invited him and his wife Grace to join ITUStees and staff for a Ivnch. Jon also did an excellent induction and handover programme for me. Unfortunately, this has been antslher difficult year for everyone due lo the fallout of the pandemi¢ bul the need for our services has been even mor8 apparent. 11 is also evident that social isolation remains an issue for many. l am very pleased lo have joined a charity with a sound finarTrcial position and which has svch enlhusiaslic and committed trustees, staff and volunteers. Our volunteer workforce has gone from strength to strength in the last year and we have made some impressive staffing appointments. Finalty, I would like to lake this opportunity to thank Jenny Gage, CEO 8nd all her stsff who have not only made Tna very welcome but done an amazing job for our clients in difficult cir¢urnst2nces. We are keen to do much morg woik on getting feedback from our dients on the service we provide so please lake every opportunity to make contsct. C Wigley Chair Dale.. Page 2 WORCESTERSHIRE ASSOCIATION FOR THE BLIND IACOMPANY LIMITED BY GUARANTEEI TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2021 The Trustees present their annijal retyjrt together wth the finan¢i81 statements ol the Worcestershire Associalitsn For The 81ind for the 1 April 2020 10 31 March 2021. The Annual Repori sèNes the purpose5 of both a Tru5tees' report and a directors. report under company law. Thè Trustees confirm Ihal the Annual Report aTrd financial slalements of the charitable company comply wlh the current statutory requirements. the requirements of the charitable companys governing document and the provisions of the Statement Of Recommended Practice {SORPI applirdble to tharities preparing their 2cwunts in accordance with Ihe Financial Reporting Standard aiwicable in the UK and Republtc ol Ir81and IFRS1021 leffeclive 1 January 20191. Slnce the Charitable Company quaNfies as small under Section 382 of the Cornpanies Act 2006, the Strategic Re￿rt requir8d of medium and large companies under the Companies Act 2006 (Strategic Report and Direclofs, Report) Regulations 2013 has been omitted. Objectives and acti¥itles . Pollcies and Ob}e￿IveS The stated obj6Cts wthin the Articles for Wthich Worcestershire Association for Ihe Blind is gstablrshed ats. for the public benefit.. To Promo￿ tha prevents.on of avoidabl& sight10s8. To support and promote the welfare tsf blind and partially sighted persons and their families orcarers, in p8rticular those resident in the County ot Worcestershire. The provision of assistance and good quality services for blind and partlally sighled persons, alone or in collaboration with olhei voluntary and slatulory organisalion5. To provide ¢he resources and informah.on necessary to empower visually Impaired people to make appropnate and informed thoic85. These objectives will be monitored on a ￿gu18r basis by the officers of the association and our board ol tnjstees. The Injslees have paid cjutr regard to guidance issued by rhe Charily Comrntssion in deuding what activities the association should undertake and consider thai Worcestershire A550cialion for The Blind provKles a public benefit by ac￿VelY promoting, supporh'ng and empowering people affected by sight loss. O¢Jr vision is a worfd wh&re blind and partially sighted peopk have the confidence to reach theirfull potenty'al and the opportvnily to play an active role in society. Our mission is to SLJPPOrt bllnd and partially sighted peopl& to lead independent and fulfilling lives. In setung ob]eclives and planning for aclivltleS. the Twstee5 have given due ¢onsider8I'on to general guidance published by Ihe Ch8rily Cornmission relating lo ptjblic bEnefit, including the gusdance 'Public benefit.. running charity IP821'. Page 3 WORCESTERSHIRE ASSOCIATION FOR THE BUND IA GOMPANY LIMITED BY GUARANTEEI TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2021 Oblectlves and activbties ICONTINUEDI b. Strategie$ for achseving objectives Supportlng People to Make Informed Choice5 We will provide information. advice and guidance regarding the impact of sight loss arHJ the support available io help people affected by sight k)ss Supporting People to Lead Independent Lives We will help people to adapt to sight loss. learn new ski118. access equipmenl and make the most ol technology Supporting Peoplp to Lead Fulfilllng Lives We will assist people to engage in social and leisurè activities of Iheir chthce that efih8nce the quality of their Ilves There are approximately 8,280, blind or parlially sighted people living in Worcestershi￿. We airn to reach a5 rnany of thes8 people as we can. wilhin our available resources, to support them lo lead th8 Iwes they wish lo lead. I'RN18 Sight Loss Data Tool) c. Activities undertaken lo achievg objective5 In order to achieve our oty'ectives. we provide a range of services that either directly support people with sght loss or provide information, advice and guidance lo those people who a￿ supporting people with sight105S. Our Services inducse.. Infomalion advice helplinE One-to￿ne support from our Sight Loss Advisors Monthly Sight Loss Support Groups Living with Sighl L055 group support sessions Low Vision Clinics prescribing magnifiers. to make the best use ol any remaining sight Aids and Equiprnent demonstrations, advic8 & exhibiiltsns Digital Technology training through workshops and one-to-one sUPPOrt 8efriending Volunteers who cark SUPPOrt peopl¢ with Ihe things Ihey need io do le.g. read Iheir postl as well as the things they love le.g. hobbie5, getting out in the ¢ommunityl Sight Loss Awareness which provides practical Ir3ining on how to assist visually impaired people. for 5tsff. volunteers, buslnesses and the cornmunity We appreciate how thallenging it can be to travel across the county, so we deliver our Services across the six districts of Worceslershire, in local comfflunily settings or in people's homes. We are fortunate lo benefit from the support of over 150 volunteers, they support us atross a11 arèas of the ariiy induding administration tasks in our offices, marshalling at events, running social groups, befriending. reading and recording the talking news and more. Page4 WORCESTERSHIRE ASSOCIATION FOR THE BLIND IACOMPANY LIMITED BY GUARANTEEI TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2021 Achievements and perfomiance - Maln achlevements of the Charitsble Company As we entered April 2020. we were at the beginning of a journey thai no-one could have expected and one that we had cptimistically thought would be over well before the end of the financial year. We were already seeing the significant impact that this was having on blind an(J parbally sighted pe¢)ple, we had made immediate adlustm8nls to our services, the staff team Instructed to WO￿ from home and ceasing all lace-lo-face acliwty. We recogni5ed th8t some Df OLtr clients. pa￿CuL8rIY those living alone would be Slruggllng to access infomiation and may be a greater risk of i501ation. with family and friends unBble to vislt. We took on the signlfi¢ant task of contacting every person on our daiaba5e to ensure that they had Ihe informabon they required and could acce55 essential items such a5 food and tnedicatitsn We signposted people to local organssations that were sel up to safely deliver items tsn people's beh811. We rTranaged to ¢ontact a total of 2,340 peopte during the fir5l lew weeks of the pandemic. For many this provided reassurance and comfort knowing that we We￿ still there to h81p as best we could. .1 dont know whal Id hève done without you. you are so kind. No-one else at all has even checked on me for months.. 'Thank you lor th¢ informaiion- I had no idea the shops were doing ￿n￿h1ng like Ihis...this sounds uselul for us,. We soon confirtTred that there were a significant number of people who were not seeing anyone and were very lonely. Wo had already ¥dvige¢J our befriending ¥olunl8ers Ihat they could not visit people until fvrther notice 61 of these people Switched to telephone befriendlng., we had estsbli5hed a successful model, so we decided lo expand this by lecruiting n)ore telephone belrienders. We moved the trainin9 and support online Mtteo meetings and managed to successfully recruit 44 new telephone befrienders. Along with our current volunleers we were able to r&ach 117 people Providing someone to talk to. to reduce some of the loneliness. Regular newsletters to volunteers and video meeb'ngs have created a Slronger relationship with Ihe volunteers, and many ar¢ more Gonfidenl to lel us know if Ihere is anything that they feel our 5ight105s advisors could assist with, .1 would like to lake Ihis opportunity to say hiw much I lik¢ your newsletters. Re9ular. relevant and up fo dafe inlonnaÈion m8intains volunteers, interest and helps them feel included. along with yotsrzoofft sessions showmg how supportivg you are." Thank you so much for ¢aring about my dad, and for c811ing especially at a weekend. Its nice to know Sight Concen7 is iheTr.° The Malvern Talking News had been recorded by a toam ol dedicated volunteers for many years. Every week they met in a church lo ￿cOrd and copy the news onto over 100 m¢mory Sticks that were posted OLlt to blind and partially sighted listeners, this was another activity trial had come lo a halt due to the pandemic. When we realised thai Ihal'normaliiy. was not going to be returning soon, we decided to make the switch lo promding the t31king news in a digilal capacity, Ihis meant that volunteer read8rs could carry out thi5 ac*'v¢ly safely from their own home. We approached ou¥ currenl team to invite them to get involved, bul many did not have the technical skills to record 8t home, fortunately we were able to recruit some new technical editors and sorTte new readers. We made the laSking news available via smart speaker5 8nd on our website. We also developed a dial4n 5ervic$ lo enable clients who don't have access to this type of technology to listen via phone by sirnply diallsn9 csedlcated phone number. Some clients expressed 8 preference for the news to be read lo them by a volunteer reader. so we also set this up. During the last quarter of the year the Malvern Talking New5 received 184'Alexa' smart speaker listens and 83 telephone listens. These are significantly higher numbers of peoFle than those who received the fflemory stick vla the post. 7hank you for 8dvi&ing me of the return cf the Malvern Talkfrng Newspaper. I listened to th8 281h of January edilion using your websits and was ¥erypleAsed to he8rllJe readers again" Page 5 WORCESTERSHIRE ASSOCIATION FOR THE BLIND IA COMPANY LIMITED BY GUARANTEEI TRusfEES' REPORT ICONTINUEDI FOR THE YEAR ENOED 31 MARCH 2021 Achievements and perforniance (CONTINUED "It is fitting, givgn Ihe remarkable work olour volunteers. that in May 2020 we were dèlighted to re￿Ne Ihe news that we had been awarded Inveslors in Volunteer status. "liv Standard is UK qualily standard for all org8nisations th8t involve volunteets their work. The Startolèrd enaliles organisations to C(Imp￿heR&WelY view their volunt88rmanagem&nl and also publicly demnslral8s Ehèir ￿￿￿￿£Ment to volunteering.. As a result of the restrictions impose¢J by the pandemic, many of our dients experienced increased anxiety and lower mood 8nd required more emotional sUPPOrt Irom the sight loss ad￿SOr5. Many lost skills and wnfideThce leaving their homes. Other organisations were èxperlencing increased demand and reduced capacity, which rnade securing appropriale support lor client5 difficult. We know that other people with sight loss across the country would be experiencing the same, so we joined forces with Sight A(Jvice South Lakes 8nd Support for Sight Essex to provide monthly joint Zoom information sessions. Sessions were pn)vi¢Jed on a regular basis and included inspirational speakers or useful informalion such as Blind Poet (David Steel), lechnology sessions from various people including VitalTech on Assistive tech and Galloways talking 8bout apps, someone from RNIB explaining how she tnanaged to adjust to severe sight loss alld found work and one of our own Sight Loss Advisors running seated exercise class and offering tips on slayng healthy. We also introdu￿￿ telephone SUPPOrt sessions for those people who are not able lo use the internet. These a￿ accessed via a dedicated phone number. In the Autumn of 2020, we invested in Irain4ng and srnplernenlation of the Sight Los5 MOT. This is an assessrnf nt, aGtion planning and outcorne framework which helps lo ensure that people who are blind or partially sightEd can access the infom)alion and support they need In order to maKirnise Iheir Independence. wellbeing and choice. It was first developed by Devon in Stght in 2016 as part of a new Comrnunity Support Service In order to deliver a more outcome-focused service and has been adopted by a number of sighi loss charities acr055 the UK. The Sight Loss IrtOT framework has been based on nats'onal research 8nd best practice and provides a practitioner's toolkit lo help organisalions deliver against the objectives of the Eftgland Vision Slraiegy and the 'Seeing it Nly Way Outcome Framework. During the pandernic, then we have been unable to visit people. we have used this loolkit lo provide telephone and online asse55ments, Identif￿ng what support could be put in imrnedialely and what would need to be added to an action plan thal would b8 impl8meDl8d when reslriclion5 eased. Where suppDrt was required from EXtern81 organisalions, ihe proces5 was more complex and iimele5. We were delighted to be joined by Caroline Wrgley, Hazel Shaw and Rob Milford, who have a wide skill sel between them incttsding senior rnanagement in the NHS, markèting and consultsr4Cy. We would like to use this opportunity to pay tnbuie to our long-standing President. Lady Morrison. who sadly passed away unexpectedly In October 2020. She will be greatly missed. her suppori over the many yeèrs will not be forgotlen. her kindness and cornpassion a￿ayS came across so strongly whenever she att8nded any of our events. b. Fundra15ing actlvlttes and income gèneration For 19 years we had benerrtted from incorne from tenants leasing the first Iloor of our building, bringing in 8round 10% of our annual income. However, we had lost our tenants in Jaftuery 2019 and being unable lo secure n8w lenanis we were struggling with the ongoing costs of running such a large old building without this income. We were about lo secure new first floor ten3nts In March 2020 when Covid 19 hit and they were forced lo pull out a5 they were also facing unc&rtainlies due lo the pandemic. It proved impossible to Secure any oth8r tenants over th¢ next lew mtsnths. however later in the year, Ihe original busines5 was able to reconsider and moved into building in January 2021. In addition to thi5 our ground floor lenant has agreed to extend the lease of Dur hall as a Worcester base(1 showroom for thelr mobility company. In March 2020 our Fundraising Manager. of 9 years. the rharity to take on a new challenge with another local charity WE saw this as 8n opportunity to review our incorne generation and consider what we needed to do differently In the future. The timing of thi5 was fortuitous, in some respects, as it soon became dear thai, as a result of the pandemic, our fundra15ing Èctivity was going to tak8 a signifirAnt hit, as much of our aclwily ground to a halt. We had to put our fundraising orricer on furtough. as we did not leg1 confident that she could cover the Costs of her salary through Ihe limited income we bplieved we coulcl raise through fijadraislng. We had to cance all of our planned events including our tenth annual quiz night. During the year we were not￿ed that we have been 18ft significant funds though the legacies of ￿ree generous donors. This inGome had the poienlial lo change the Course of the chartty over the next few years. Whilst many charities were struggling due to the finarTcial Impact of the pandemic, we were able to contst71rale on investing these funds in future services and 5USt3inability for the charity. Following receipt of some of the legacy incom&, we had to make the difficult decision to make our Grants and Trust Bid Writer redundant, a5 we did not feel It was appropriate to be asking for grant funding in the short term. Instead of bringing in a new Fundraising Manager, we made the deasion to invest in an Incorne Generation Manager. who would iry lo diver5rfy the ways in which we raised funds. Our new member of staff joined us In April 2021, vle hope lo be feporting th9 Posrtive imp8ct of this in next yearfs annual report. Page 7 WORCESTERSHIRE ASSOCIATION FOR THE BLIND IA COMPANY LIMITED BY GUARANTEEI TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2021 hievements and performance ICONTINUEDI Prior to us becoming aware of the legacy Ivnding we were st411 making successful applications to twsls and foundations. We give grateful thank5 to all those who have given us funds including.. The P4ational Loiiery Buildlng Collnections and Reaching Communilies, Cadbury TnJst. Kildare TnJsl. Ev8sDn Charitable TIu5t, John Martin5 Ch8r4ty, KJ Tandy Trusls, Francis Winharn Tru51, The Slr Cliff Rich8rd Chalitable Trust, MK Rose Charitable Trust, Biitish Wireless for the Blind. Ajbright Grirnley, The Will Charitable Trust, Baron Davenport, Lillle C Johnson. Garfseld Weston, Hawthoine Trust, E¢knrd Cadbury TTUSt, D'oyly Carte. Worcester Community fcus( Rowlands Trust. The Grimmilt trust and The Masonic Lodge. Financial Feview Golng ¢on¢ern After making appropnate enquiries. the Trustees have a reasonable expeclation that the Charitable Company has adequate resources ¢0 continue in operauonal existence lor the foreseeab16 future. For this reason, they continue to adopt the going concern basis in p￿paring Ihe financial statements. Further detsils regarding ihe adoption of ihe going concern basis can be ftsund in the accounting policies. b. Re$8rvÈs policy The Trustees have given carefLs1 consideratlon lo tt)e requirement lo maintaill an appropriate level of free reserves. besng those unreStr￿led fund5 not Invested In lixed assets, des¢gnMied for specific purposes or otbemise committed. The charity needs reserves to enable it to dav81op its long term aims as well as to ènsure the ton￿nUall0n of its current activitie5. In order to meet their respon51bilitie5 and to ensure that the charity oonlinues lo operate o going concem basis. the Finance Comrnittee has rewewed the requirements and risks faced by the charity in both the short and medium term. Our reserves poltGy lakes into Considera￿0￿ that, a5 we a charily that relies heavily on fundraising, we are subject to the effects of short-term volatility in income. We therefore hold funds in reserye lo ensure th8t we ¢8n continue lo provide rx)ntinuity in our core services in the face ol flucluations. We hold reserves to meet the following purposes.. Los5 of lease income.. We currenuy have one tenant whose lease expires in December 2021, if they do not renew this lease, we are sel to lose £4,672 of income in the final quarter of the year, Iherefore we have Included this in our ￿SerVes. We use the income from the In￿reSt on OLtr invèstmenl towards our core costs, the maike15 may fall so we have set aside £5k to mibg8te this. The costs ol closure or wnd-down of the core operabons ol the charily.. This represents funds to cover the salary and personnel costs ol dosurelwind-down of the charÈLy. This includes reilundancy costs, professional fees And nine monihs, salary for the CEO and Finance Manager lo attempt to rescue andlor close down the charily. The Trustees have set aside £84k, in total, to cover Ihese contingenc#es. Cost5 of repairs to the building." The building that the charity occupies is an cAd property and repairs can be C051ty. We have Inclvded £30k for building ￿paIrs,. we have identified a number ol i55ue5 relating lo iepairs and maintenance that require attentbon, including needing ventilation in some rooms. We are 8w8re that a flat ioof is due for repla¢ernent, quotes are in the region of £60k. Our rnaximum excess on insurance is £1k. The Trustees trere10￿ have a target reserve of £91 k, in total lo cover these contingencies. Page 8 WORCESTERSHIRE ASSOCIATION FOR THE BLIND IA COMPANY LIMITED B Y GUARANTEEI TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2021 The dè5ignatod funds of £69,307 sh(Min later In the accounts Inole number 191 allow for the main charitable acttvilies to take place and therefore make up part of the free ￿serveS required for our conlingpncy funding thal ensures that key servic6s can continue In the event ol a downtum in income. Based on the above assessment the trustees estimate that the totsl level of free reserves Tequi¥ed lo mitigate against idenb'fiable risks is approximately £375,000 The level of our free resèrves held at the year-end - excluding fixed assets, restricted funds and includ£ng payment ol tsur c￿dItorS stands at £567k 12020.- £25lkl. This includes £355k investment funds which are convertible at short notice if requir8d 12020. £294kl, less curreni liabiliues of £32k, plus unrestricted current assets of £244K Our reserves currently exceed the amount reqL*lred to mibgale our risks. therefortr we have deuded to draw down some of these savings to use for frontline services, and to invest in busines5 development lo diversify how we generate incomè with an aim to be more sustainable In the fvture. Structure. governance and manag8ment a. Siructure wOr￿stershIre A550ciation for the 811nd loperaling as Sighl Concern Worcestershire) is a regISte￿rt tharily and a company lirnitecl by guarantee. not having a share capital and governed by its hAemor8ndum and Articles of Association. The association was established by a charitable trust deed in 1930. The Iru51ees transferred all assets to the charitable company limited by guarantee which was incorporated on 19th May 2010. b. Governance The charity Is govemed by a board of trustees. who also act as directors, under its memorandLtm and articles. The trusteesldirgctors have overall responsibility for en5Urtn9 that.. The charity is operaling effi￿en#Y and effectively. Its assets are safeguarded against unauthorised use or disposition., Proper reoords are malnlained. an(J that the financial inlomalion used within the charity or for public8tion is reliable.. The charity complies with relevant laws and regulatrons. Trustees are selected for the skills they can offer,. a skills audit IS Used to idenlfy the range ol S￿.11$ required and any gaps the current board needs to ni. All new trustees undertake the charity's Sight Loss Awareness training, receive an induction from the Chief Executs've Officer ènd spend wth key members of stsff. They 8150 receive a trustee handbook conlainin9 relevant information about Ihelr role and responsibility as a trustee, the charitys services and its policies. . Management The trustees delegate the day-tTrday man8gement. the deveknpmenl of $trategy. and overall leadership of the Charity lo the Chiel Executive Officei. Page 9 WORCESTERSHIRE ASSOCIATION FOR THE BLIND IA COMPANY LIMITED BY GUARANTEEI TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2021 Plan5 for future periods We conts'nue to adapt to the ongoing challenges brought by the pandemic, this has had a signrfitant irnpact on the lives of pèople with sighl loss. many of whom were already facing ISSUBS due lo reduced Indep8ndence. Isolation and 10s5 of ctsnfidence. These were only further exacerbated through the need to social d1St3nce, r8StriGtions in getting out of th8 house and barner5 to accessing technology, information and key seryices. With a new chair of Trustees, Wice Chair and TreasU￿r and having laced a year of continLFal chang8. we are using this opportunity lo review some of thè diff&￿rnI practices we have put in place during the pandemic. As well as looking at what We did well prior to the pandemic, whal we do well now and areas for improvement, We are engaging an external consultant to carry out an independent review with key stakeholders, giving people the opportunity to speak freely and honeslly. She will speak with staff, trustees, volunie8rs. cFients. familylcarers, people wifh sight loss who Llo not use our services and professionals from across the health and social care sector. We will use the information gather through thls 'Discovery Project, to write 3 new strategy. fit for a wortd that Is still affected by tha global pandèTnic. We are already facing waiting lists for fac8-to-face support and expect the demand for our services lo continue 10 grow. Many people have lost Iheir confidence as they made fewer joumeys outside of their own home and became less familiar with the route5 they used to tske. $0 skills will need to be relaught. People will have gone Ihrough loss of sight or ¢hange5 to their circumstances without receiving training. equipment or emotsonal support, so there is penl up demand for this. We have already Separated oul our work facilitating group support and social activities, which fornied part of the role of our ssght loss advisers. We are freeing thern up lo focus purely on 3sse5sments and support on an individual basis, to help to tackle some of these issues. We are recrusting a new TTTrember of staff whose work will focus purely on group work that enables peO￿e to meet peers with sight 1055 and learn from each other. Partslership will be a key fccus gosng forward, ensuring ihat we avoid duplication and work with other agenctes to provide joined up services that compliment each other. We wtll be working closely with Royal Nalional Instittst¢ of Elind People to deliver services such as Living Well with Sight Loss and some group social support. We are also lookino al how we can provide a joint technology support service. wilh us assisting people to use their national technology helpline, whilst we provide the local hands-on support for people to be Irained to identify and use the most appropriate digital aids and equipment. We will be tak*ng on a dedicaled Technology Coordinator to lead OTr this exctb'ng and vital 8r83 of service development. Herefordshire 8nd Worcestershire will b8come an llltegral8d Carp Sysletns IICSI from 1 April 2021, in line with expectations set out in the NHS Long Term Plan_ The Government has subsequenlly proposed a While Paper that will be considerecS by Parliamenl and recornmends that Integrated Care Systems becorne statutory NHS bodies in April 2022, replaang Clinical Commissioning Groups IGCGSI. Integrated Care Systems aim to bring greater collaboration lo all parts of the health and care system including GPS, h05pilals. community care and social ca￿, as well as physical and mentsl health semces, counly and district councils and the volvnlary 5ectOT. The NHS say 'Our patients will find it e8sier to 8cce55 sèrvic85, see rnore joined up care delivery and staff should find it easier lo work with colleagues from other organisations,. We see this as an opportunity ¢0 tackle sorne of the ongoing issue faced by people with sght loss. Tots many people are stll being dischargetJ from the hospital eye clinics withoul any infomiation or referral 10 U5 for support. s￿ne ar¢ not receiving a certifleate ol visual impairment and the opportunity to be regisl8red 85 sight impaired or receive support frorn the counul's rehabililalion offi£ers of visual impaimient. We want to change this so that everyone diagnosed w￿h sight loss Con obtain earfy reach support, at Ihe point ol diagnosis, lo help them lo emotionally and practically adapt. Hospital low vi510n service5 would be better placed In the cofflmunity to free up space for medical interventions in the eye clinics and to irnprove access for low vision patients. We are talking to the NHS about merging our low vision services so thal Sight ConcerTr can oversee the delivery ON 811 low vision services. in accessible community setlings, across the county. Many people lind the system disjointed and difficult lo navigate. they often fall through the gaps and do not receive the support they need. We want to work towards providing a sinole point ol access. Page 10 WORCESTERSHIRE ASSOCIATION FOR THE BLIND IA COMPANY LIMWTED BY GUARANTEEI TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2021 Plans for future perlods ICONTINUEDI In 2019 Worcestershire County Council reduced the number of Rehabilitation Officers for Visual Impairment IROVI'SI, the criteria for sUPPOrt and for free aids ancl equipment now seems tighter and some people are no longer g2lting the 5UPPOrt they need. Wè are keen to Work with the council to see hc>w oui Sight Loss Adwsors can help by providing the lower-level training and support. freeing up the ROVI'S lo concentratg their Skills on the people with more complex needs. If we can provide an effective joined up model this could pave the way for cost savings and efficiencies for the council in the future through contracting this lower-level work to us. menlioned earlier. the significant legacy funding that we have received this year is going lo enable us to develop some new setvices, in response to our consultation project. However, we wll also be using this lo invest in developing a sustain8ble income generation strategy and improve our communications. We will be reviewing the use of our building, our largest asset. to ensure that we ar¢ making the most of this. With more staff choosing to work remotely and as we grow an¢J develop our communtty-based services, we have less need for the space thal we currently o¢¢upy in the building, so we wll be carrying out a comprehensive review of the building. included what we facilities w8 need on an ongoing basis and the poiential for income generation through this. STATEMENT OF TRUSTEES. RESPONSIBILITIES The Trustees (who are also the directors of the Charitable Company lor the purposes ol company lawl are responsible for preparing the TrLJStees' Report and the financial statement5 in accordance with applicable law and United Kingdom Accounting Standaids (United Kingdom Generally Accepted Accounting Practice). Comp8ny law requires ihe Trustees lo prepar8 financial statements for ea¢h financial Under company law, the Trustees fflust not approve the financial statements unless they are satisfied that they give a true and fail view of the state of affairs of the Charitable Company and of its incomlng resourc8s and appli¢alion of resources, including its income and expenditure. for that period. In preparing theye financial statements, the Trustees are required to.. select suitable a¢counling policies and then apply them consistently., observe the methods and principles of the Gharities SORP IFRS 1021,. make judgements and accoLJnting estimates that are reasonable and prudent.. state wh8lher applicable UK Accounting Standards IFRS 1021 hav& been followed. subject to any rnaterial departures disclosed and explained in the financial statements,. prepare the financial statement5 on the going concern basis unless It is inappropriate lo presume that the Charitable Company will continue in business. The Trustees ar8 responsible for keeping adequate accounting records that are suff1¢ienl to show and explain the Charitable Cotnpanys transaGlions and dis¢lose with reasonable accuracy at any time the financial position of the Charitable Company and enable Ihern to ensure that the financial statements comply with the Compafties Act 2006. They are a150 responsible for safeguarding the assets of the Charitable Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the rnembers of the board of Trustees and signed on iheir behalf by. Wigley Ch8ir Dale.. Page11 WORCESTERSHIRE ASSOCIATION FOR THE BLIND {A COMPANY LIMITED BY GUARANTEEI INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2021 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WORCESTERSHIRE ASSOCIATION FOR THE BLIND I'the Charitsble Company'l I report lo the charity Trustees on my exarninalion of the accounts of the Charitable Cornpany for the year ended 31 Mard) 2021. RESPONSIBILITIES AND BASIS OF REPORT As the Tiustees of the Chariiable Company land its directors for the purposes of company lèwl you are responsible for th8 preparation of the accounts in ac¢ordèn¢e with the ￿qUirementS of Ihe Companies Act 2006 I'the 2006 Ad,). Having satisfied Myself Ihat the acctrunts ol the Chari13ble Company are not required to k audited under Part 16 of the 2006 Act and are eligible lor indepelldent exaTnination, I report in respect of my examtnation of the Charitable Comp3nrfs accounLs carri8d out under section 145 of the Chafities Act 2011 1.the 2011 Act'l. In carrying out my examination S hav8 folkswed the Directions given by the Charity Commission under seclion 14515llbl of the 2011 Act. INDEPENDENT EXAMINER'S STATEMENT Since the Charitable Company's gros5 income exceederj £250,000 your examiner must be a mèrnb8r of a body listed in strclion 145 of the 2011 Act. I confimi that l am qualified to undertake the ex8rninalion because l arn member of Association of Charte￿d Cerufied Accountants. which is one ol the 115ted bodies. I have completed my examination. I confim that no matters have come lo my attention in connection w¢lh Ihe examination giving me cause lo believe.. ac¢ountsng records weTe not kept in respect Ol the Charitable Cornpany as required by section 386 gf Ihe 2006 Act.. or the accounts do nol accord with those records.. or the accounts do not comply walh the accounlir4J requi￿rne￿I5 of section 396 of the 2006 Act olher ihan any requirement ihat the accounts give a 'true and fair, view which is not a matter considered as part of an Independènt examination., or Ihe accounts have r￿t been prepared in accordance with the method5 and principle5 01 the Stalernent of Recommended Practice for accounts'ng and reporting by charities lapplicable to charities preparing their acc￿nIS in accordance with the Financial Reporting Standard applicable in th9 UK and Republlc or Ireland IFRS 10211. I have no concems and have come across no other matter5 In connection with Ihe exarnination to which aitention should be clrawn in this ieport in order lo enable a proper understanding of the accounts to be ￿aChed. Page 12 WORCESTERSHIRE ASSOCIATION FOR THE BLIND IA COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITORS. REPORTTO THE OF WORCESTERSHIRE ASSOCIATION FOR THE BLIND {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2021 This report is made solely to the Charitable Companvs Trustees, 8s a botjy, in accordance wth Part 4 of the Charities {Accounts an(J Reports) R8gulations 2008. My work ha5 been undertaken so that I might slate lo the Charitabl8 Company's Trustees those matters l am required lo state to them in an Independent Examinerfs RetM)rt and for no other purpos&. fo the lulle5t extent permitted by law. I do not accept or assume ￿SponsIbl11ty to anyone other than the Charitable Company and the Charitable Companvs Trustees as a body. for my wtsrk or IC￿ this report. Signed.. Dated.. 22nd December 2021 Andrewwood FCCA DChA BISHOP FLEMING LLP Charte￿d Accountants 1-3 College Yard Worcester WR1 2LB Page 73 WORCESTERSHIRE ASSOCIATION FOR THE BLIND (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021 Unrestricted funds 2021 Restric¢ed funds 2021 Total fund5 2021 Tot81 funds 2020 Note Income from: Donations and legaues Charitable activities Other trading activiiies Inveslments Other income 213.728 70,455 1.805 40.563 10 22,725 253,786 236,453 324.241 1.805 40,563 10 27.278 273,438 35,931 28.817 Total income 326.561 276,511 603,072 365.471 Expenditure on: Raising funds Charitsble activitiés 15,899 55.235 33,289 206,919 49,188 262,154 67,920 353,540 Total exp•nditure 71,134 240,208 311,342 421.460 Net incomellexpenditurel before net gain51llos5e51 on investments Net gainslllosse51 on investments 25S,427 6G.787 36,303 291,730 60.787 55,9891 19.6191 15 Nèt movement in funds 316,214 36,303 352,517 {65,6081 Re¢oncilÈation of funds.. Total funds brou9hl forward Net rnovement in funds 519,656 316,214 561.290 36,303 1,080,946 352,517 1,146.554 165.6081 Total funds ￿rrIed forward 18 835,870 597,593 1,433.463 1.080,946 The Slalemenl of Financial Ac￿vIti¢S indudes all gains and losses recognised in Ihe year. The note5 on pages l 8 10 35 forrn part of these financial staterngrit5. P3ge 14 WORCESTERSHIRE ASSOCIAfioN FOR THE BLIND IA COMPANY LIMITED BY GUARANTEEI REGISTERED NUM8ER-07258623 BALANCE SHEET AS AT 31 MARCH 2021 2021 Note 2020 Fixed assets Tangible asset5 Investments Investment property 13 334,492 354,950 353,955 340,875 294,163 353,955 15 14 Curront ?sset5 1,043,397 988,993 Debtors Cash at bank and in hand 16 11.396 447,649 11.919 179,388 459,045 Creditors.. amovnts falling due within one year 191.307 17 168.9791 199.3541 Net current assets 390,066 91,953 Total assets less current liablllties 1,433.463 1.080.946 Totsl net a5$ets 1.433,463 1.080,946 Charity funds Restricted funds Llnreslri¢led f(snds Designated funds General funds 18 597.593 561.290 18 18 6B,307 767.563 135,840 384.016 Total UnreS￿c1ed funds 18 835,870 519.656 Total fLtnds 1,433,463 7,080,946 P8ge 15 WORCESTERSHIRE ASSOCIATION FOR THE BLIND IA COMPANY LIMITED BY GUARANTEEI REGISTERED NVMBER..07258623 BALANCE SHEET ICONTINUEOI AS AT 31 MARCH 2021 The Charitable Company was entiued to exempbon from audit under section 477 of the Companies Act 2006. The membèrs have not required Ihe company io obtain an audit for the year in question in accordènce with 5eGiion 476 of Cornpanios Act 20116. The Trustee5 acknowledge their responsibilitles for complwng with the requirements ol the Act with respect to accounting ￿CordS and preparation of finanaal statement5. The financial Statements have been prepared In accordance wilh the provisions applicable to entities subject lo Ihe small companies regime. The financial statements were approved and authorlsed lor issu$ by the Trustees and signed on thelr behalf by. C WSgley Chair Dale.. Q.11 3oLI The not8s on page5 18 to 35 lom part of these financial statements. Page 16 WORCESTERSHIRE ASSOCIATION FOR THE BLIND IA COMPANY LIMrrED BY GUARANTEEI STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021 2021 2020 ash flow5 from opèrattng activllles NÈt cash used in operating activities 275.875 122,5331 Cash flows from Investing a¢tivitles Dividends. inte￿5[S and rents from investments Purchase of tangible fix8d assets 10 {7,624) Net cash (used Inyprovided by Investlng aetivities 17.614 Change In cash and ¢ash equlvalents In the year Cash and cash equivalents at the beginning of the year 268,261 122.5261 201,914 179,388 Cash and cash equ4val•nts at the end of the year 447,649 179.388 The notes on page5 16 to 35 form part of these financial statements Page 17 WORCESTERSHIRE ASSOCIATION FOR THE BLIND IA COMPANY LIMtTED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 GENERAL INFORMATION Wo¥cestershlre Assoclalion for the 81ind is a private limited charitab￿ Company incorporated in Ihe UK and registered in England and Wale5. The Ch8ritab18 Company is a privaie company limited by guarantee. The metnbers of the Charitable company are Ihe Trustees named on page 1. In the event of the Charitable Company being wound up, the liability in respect of the guarantee is limited lo £1 per mernber of th8 Ch8ritable Company. The principal activity ol the Charitable Company 18 that Sel out in the Trustees, Report. The acGounts are presented in GBP and are rounded to the nearest GBP. ACCOUNTING POLICIES 2.1 BASIS OF PREPARATION OF FINANCLAL STATEMENTS The financial statements have b88n prepared in accordan￿ with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Stalemeni of Recomrnended Practice appli¢abl• to charities preparing their accounts in accotdance wth the Financial Reporting Standard applicable in the UK and Republic of I￿land IFRS 1021 leffective 1 January 20151. the Financial Reporting Slandarrj applicable in th8 UK and Republic of Ireland IFRS 1021 and the Compani6s Act 2006. Worcestershire Association For The Blind meets the definition of a public benèlit entity under FRS 102. Assets and liabilitie5 a￿ inibalty recognised al historical cost or transaction value unless othen￿lse stated in trTe ielevant accounting rx)Ilcy. 2.2 GOING CONCERN At the tirne of approving the accounts, the trustees have a reasonable expecialion that the charity has adequate resoUr￿S to continue in operatyonal exislance lor the lorseeable futur8. Thus Ihe trustees continue io adopl the golng concem basis of aGwunting in preparing the accounts. The impact L)1 Cowd 19 has and will continue to inevitably have an Impact of the charities funoraising and diEct service delivery. however we have sufficient reserves lo see us through a period of reduced income. We have grants frorn the National Lottery that are expected lo con*'nue to be paid, as well a5 an NHS conlracl that Is expected to continue to be paid. Our SeN1￿ dellvery costs have r8duced as we are not pawng for roorn hire or travel cost and have slaH working reduced hours or on furfough in some cases. Page 18 WORCESTERSHIRE ASSOCIATION FOR THE BLIND IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 ACCOUNTING POLICIES (contlnued) 2.3 INCOME All income is recognised once the Charitable Company has entiuemenl to the income, it is probable that the inc0￿e will be reeeNed and the amount ol income rec8ivablg can be measured reliably. Th8 recognition of income from legacies is dependènt on establishing entitlernenl, ihe probability of receipt 8n(J the ability to estimate with sufficient accuracy the amount receivable. Emdence of entitlement to a legacy exists when the Charitable Company has sufficient evidence that a gift has been left lo them (through knowledge of the existence of a valid will and the (Jeath ol the benefactor) and Ihe executor is satisfied that the property in question will not be required lo sat15fy daims in the est8te. Re￿Ipl of a legacy must be recognised when it is probable that il wi# be received and the lair value of the amount receivable, which will generally be the expected cash amount to be distributed lo the Charitable Company. can be ￿liablY measured. Income tax recoverabk in relatson to investment income is recognlsed al Ihe time the inve51rnent income is receivable. Other incoffle is recognised in the period in whith it IG recelvable and to the extent the good5 have been prowded or on completion of the seNice. 2.4 EXPENDrruRE Expendiiure is re¢ognise(f once the￿ is a legal or Constructive obliqation to transfer e￿￿OrnIc benefit to a third party, it is probable that a transfer of economic ben8fils ￿11 be required in selllemant and the amount ol the obligaiion can be rneasured reliably. Expenditure 15 classKied by activity The ￿$[S of each activity are made up of the total of direct costs and shared costs, includino support costs involved in undertaking each activity. Direct costs attribvtable to a single activity are allocated directly to th8t artivity. Shared Gosls whlch contribute to more th3n one acbvsty and support costs which a not 8ttr(butable lo a single aciivity are apponioned between those aclivitses on a basis eonsislent with the use of resources. Central staff costs are allocated on #)e basis of time spent, and deprecialion charge5 allocated on the portion of the asset's Use. Expenditure on raising funds includes all exp&lldilure incurred by the Chan￿ble Company to rasse fvnds fr)r its Charitable Purposes and includes costs of all fundraising activities events and non- charilèble Irading. EKpenditure on charitable activitie5 Is IncuThed on direclly undertaking the a¢tivitie5 which further the Charitsble Companls objectives. as well as any associaltsd support Costs. All expenditure is inclusive of irrecoverable VAT. 2.5 INTEREST RECEIVABLE Interest on funds held on deposit is induded wh¢n receivable and the amoLTrnl can be rneasured reliably by the Charitable Company,. this is normally upon noufication of the interest paid or payable by Ihe Institution with whom the funds are deposited. Page 19 WORCESTERSHIRE ASSOCIATION FOR THE BLIND (A COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 ACCOUNTING POUCIES Icontlnuedl 2.6 TANG18LE FIXED ASSETS AND DEPRECIATION Tangible fixed assets are iallially reC￿nised at wsl. After recognition, under the cost model. tangible fi.xed assets are tneasured at cost less accumulated depre￿ation and any accumulated impaifmenl losses. All costs incurred to bfing a tangible fixed asset inlo its intended WOr￿'ng conditth should be included in the measuremenl of cost. At each reporting date Ihe Ch8rit8ble Comp2ny a55esses whether there is any indicaiion of srnpairmonl. 11 such indicallc>n exists. the recoverable amount of the asset Is determined to be the higher of ils lair value less costs lo sell and its value in use. An impairment loss is recDgnised where th8 carrying amount exceeds the recoverable arnount. Depreciation is charged so a5 to allorate the c05t of tangible fixed assets less their residual value over thelr estimated useful live5, Ltsing the slraighl-llne method. Depreciation is provided on the fojlowing bases-. Lon*tem leasehold property Fixtures and filtir4Js 2°A on cosl 10-20Yo on cost 2.7 INVESTMENTS Fixed asset investments are a form ol financial instrument and ar8 initially recogni$8d at their transaction cosl and subsequenity measured al fair value al Ihe Balance Sheet date, unle55 the value cannot be measured reliably in which case il is measured at cost less impairrnenl. Investfnent gain3 and losses. whethei realised or unrealised, are cornbined and PFes8nted as 'Gsin51lLos5e51 on investments, in the Statement of Flnancial Activities. Investments held as fixed assets are shown at cost less provision lor impairment. 2.B DEBTORS Trade and other debtors are recognised al thg settlement amount after any trade discount offered. Prepayments are valued al the amount prepaid nel of any trade discounts due. 2.9 CASH AT BANK AND IN HANO Cash al bank and in hand in¢ludes ¢ash and short4erm highly liquid investments wth a short maturity of Ihree months or less from the date of acquisition or Lipening of the deposil D¥ similar account. 2.10 LIABILITIES AND PROVISIONS Liabilities are re¢ogni5ed when there is an obligation at the Balanc& Sheet date as a re5uII of a past event, il Is probabte that a transfer of economic benefit Mrtll be reqtsired in settlemenL and the amount ol the seltlement can be esb'rnated reliably. Liabilitie5 are recognised at the amount that Ihe Charitable Company anlicipales il wlll pay 10 5etUe the debt or the arnount rt ha5 received a5 advanced payment5 for Ihe good5 or servi￿$ it must provide. Provisions ale rneasured at the best eslimale of the arnounts required to 5Ètt1e the obligation Where the effect ol the &'me value of money is material, the provision is based on the present value ot Ih05e amounrs. discounted ai the pre-tax discount rate that rellecls the nsks specific lo Ihe liability. The nwinding of Ihg di5¢0unl is re￿gnIsed in Ihe Statement ol Financi81 Actr'vits'es as a finance cost. Page 20 WORCESTERSHIRE ASSOCIATION FOR THE BLIND {A COMPANY LIMITED BY GUARANTEEI NOTE5 TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 ACCOUNTING POLICIES l¢ontinuedl 2.11 FINANCIAL INSTRUMENTS The Charitable Company 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 subsequenuy measured at their settlement value wtlh the exception of bank loans which are subsequentty rneasured at arnortisèd cost using the effecttve interest melhryy. 2.12 PENSIONS The Charitable Comp8ny operates a defin8d conlributson pension scheme and the pension charge represents the amounts payable by the Charitable Company to the fund in respect of the year. 2.13 FUND ACCOUNTING General ILtnds are unreslricled funds which are available for use at U)e discretion of Ihe Trusrees in furtherance of the general objectives of the Charitable CoTnpany and which have not been designalgd for other purposes. Designated fvnd5 comprise unre5tritted f(tntJs that have been sel 85ide by the Trustees fof particular purposES The aim and use of each designated fund is sei out in tr>e notes to the financial statements. Reslricted funds are funds which are to be used in &ccordance ￿th specific ièstriclions imposed by donors er which have been iai5ed by Ihe Charitable Cotnpany for partieular purposes. The costs of raising and administenng such funds are charged a98inst the specific fund. The aim use of each restricted Ivnd is Set out in the notes to the financial statements. Investment income, gains and 1055es are allocated tu the appropriate fund_ INCOME FROM DONATIONS AND LEGACIES Unrestricted Restricted funds fund5 2021 2021 Total funds 2021 Total funds 2020 Don8trons Lega¢ieslln Memoiia 7.366 206,362 22.725 30,091 206,362 27,181 97 213,728 22.725 236,453 27,278 TOTAL 2020 5.162 22,126 27.278 Page 21 WORCESTERSHIRE ASSOCIATION FOR THE BLIND {A COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 INCOME FROM CHARITABLE ACTIVITIES Unrestricted Restricted funds lund$ 2021 2021 Total funds 2021 rotal funds 2020 Grants Sale of aids and equipment 70,385 70 253,786 324.171 70 273,126 312 70.455 253,786 324,241 273,438 TOTAL 2020 23,731 249,707 273.438 INCOME FROM OTHER TRADING ACTIVITIES Income Irom fundralslng events Unrestricted Restricted fund5 funds 2021 2021 Total funds 2021 Total lunds 2020 Events 1,805 1.805 35,931 TOTAL 2020 32.691 3.240 35.931 INVESTMENT INCOME Unrestricted funds 2021 Total funds 2021 To131 runds 2020 Investment income- investmen¢ pr(>perties Investmenl Income- listed inveslrnents Investment income- interest 29,960 10,544 59 29,960 10,544 59 16,447 12.164 206 0.563 40,563 28.617 TOTAL 2020 28,817 28.817 Page 22 WORCESTERSHIRE ASSOCIATION FOR THE BLIND (A COMPANY LIMITED BY GUARANTEEI NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 OTHER INCOMING RESOURCES Unrestrlcted lunds 2021 Total funds 2021 Total funds 2020 Other incorning resources 10 10 TOTAL 2020 EXPENDITURE ON RAISING FUNDS COSTS OF RAISING VOLUNTARY INCOME Unrestri¢ted Restricted funds nds 2021 2021 Total funds 2031 Total funds 2020 Premises costs Stsff costs Depreciailon 15,899 8,014 15,972 9.303 23.913 15,972 9.303 39,8S5 18.538 9,527 15.899 33,289 49,188 67.920 TOTAL 2020 39.855 28.065 67.920 Page 23 WORCESTERSHIRE ASSOCIATION FOR THE BLINO IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 ANALYSIS OF EXPENDITURE 8Y ACTivifiES A¢ti¥ities undertaken directly 2021 Support costs 2021 Total funds 2021 Total funds 2020 Expenditure on ¢hÈri￿ble activities 219,100 43.054 262,154 353.540 TOTAL 2020 308,448 45,092 353.540 ANALYSIS OF DIRECT cosrs Total Fund$ Total Funds 2021 2020 Staff costs Depreciation ConsumBbles and equipment staff and volunleer Iravel Staff training and recnjitrnent Direct prernises expenses Newsletters and website 200,026 4.704 12.226 945 269,313 2.483 13,551 12.168 2,650 7,573 710 989 210 219,100 308.448 Page 24 WORCESTERSHIRE ASSOCIATION FOR THE BLINO IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 ANALYSIS OF EXPENDITURE BY ACTIVITIES ICONTINUEDI ANALYSIS OF SUPPORT COSTS Total Fund5 Total Funds 2021 2020 Printing, postage and stationery Re¢rultrnent and support Telephorbe Computer costs Sundry expenses Irrecoverable VAT Entertainment char9es Professional faes Indepen¢Jent ExamÈners fees 2,170 310 3.885 12,811 1,070 12.277 120 6,911 3,500 2.883 790 5,755 10.715 2.668 10,893 1,484 6,704 3.200 43.054 4S,092 10. INDEPENDENT EXAMINER'S REMUNERATION The independent exarriner'$ remuneration amounts to an independent examiner fee of £3,50012020 £3,200). 11. STAFF COSTS 2021 2020 Wages and salarie5 Social security costs Contribution lo defined conlributEof7 pension schemes 199,649 10.808 &541 268,519 12.637 6.695 215,998 287,851 St8ff costs are shown at gross value. Staff costs in the year paid were net of furfough grants received of £10,216. Page 25 WORCESTERSHIRE ASSOCIATION FOR THE BLIND {A COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 11. STAFF COSTS ICONTINUEDI The average number of ptsrsony employeij by the Charitable Company during the year wa5 as follows- 2021 2020 No. Charitable Fundraising Admin Management 14 17 No employeè ￿ceIv￿d r8muneratiori amounting to more than £60,000 in eilhpr year. 12. TRUSTEES. REMUNERATION AND EXPENSES During the year, no Trusiees rec¢ived gny rgmuneration or other ben*fils12020- £NIL). During the year ended 31 March 2021, no Trustee expense5 have been incurred12020 - £NILI. 13. TANGIBLE FIXED ASSETS Long4emi leasehold Flxtures and pioperty fittings Tolal COST OR VALUATION At 1 April 2020 Additions 605.765 240,607 7,624 846,372 7.624 At 31 March 2021 605,765 248,231 853.996 DEPRECIATION At 1 April 2020 Charge for the year 276,520 9,080 228,977 4,927 505.497 14,007 At 31 March 2021 285,600 233,904 519,504 NET 800K VALUE Al 31 March 2021 320,165 14,327 334,492 Al 31 March 2020 329,245 11,630 340,875 Page 26 WORCESTERSHIRE ASSOCIATION FOR THE BLIND IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 14. INVESTMENT PROPERTY Investment property VALUATION At 1 April 2020 353.955 At 31 March 2021 351955 Th$ investrnent property represents leasehold land and buildlngs situated in Sansome Walk, Worcesler. The laiT value of the invesiment property has been ¢Jelermined by the Trustees. Th8 valuation was made on an open market, value in use basis by reference to market evidence of transa£lton Prices for slrnilar properties and the percentage growth rate of the property market over the year, having due regèryl to any impaimient provision necessary. 15. FIXED ASSET INVESTMENTS Other fixed asset inveslments COST OR VALUATION Al 1 April 2020 Revaluats"ons 294.163 60,787 AT 31 MARCH 2021 354,950 NET BOOK VALUE AT 31 MARCH 2021 354,950 AT 31 MARCH 2020 294.163 16. DEBTORS 2021 2020 DUE WITHIN ONE YEAR Trade dgbtors Pr8payments and accrued incDme 7,286 4.110 8,319 3,eOO 11,396 11,919 Page 27 WORCESTERSHIRE ASSOCIATION FOR THE BLIND {A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 17. CREDITORS". AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 2020 Trdde creditors Other taxation and soual security Other creditors Accruals and deferred income 3,515 1,928 9.700 53.836 7,661 3,678 14,266 73,749 68.979 99,354 18. STATEMENT OF FUNDS STATEMENT OF FUNDS - CURRENT YEAR Balance at 31 March 2021 Balance at 1 Aprtl 2020 Transfèrs inlout Galnsl ILossesl Income Expenditure Unrestrlcted Funds Designated Funds VDlunte¢ring Wyr8 Fores1 Branth Local Eyes- Infortnat¥on Advice & Support Malv8rn Branch 15.440 15,440 6,197 700 12991 6.598 100,000 1,715 10,000 163,0001 37.000 3,269 1.835 12811 110.0001 8uilding Maintenance 3,528 14,200 17.098> 114.2001 9.570 6,000 Bid Writer 135.640 2.535 121,8781 147,9901 6B,307 G8neral Funds General Fvnds VDJunteering Influen￿, Engagement & D8vdorfflent 363,628 15,656 324.026 149.2561 47,990 60.787 747,175 15,6S6 4,732 4,732 Page 28 WORCESTERSHIRE ASSOCIATION FOR THE BLIND IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 STATEMENT OF FUNDS ICONTINUEDI STATEMENT OF FUNDS - CURREKf YEAR {contlnuedl Balance at 1 April 2020 Balance at 31 March 2021 TrAnsfers Inlout Income Expendituro Gains1 (Lossesl 384.016 324.026 149,2561 47,990 60,787 767,563 Total Unrestricted Funds 519.656 326.561 171,1341 60,787 835,870 Restricted Funds Sansome Walk Property Big Lottery Reaching CoTnmunitles Infom)ath'on. Advi￿ & Support Low Vrsion Vgluni¢eruig Digtlal Technology Influence, Engagement & Development Increasing Our Reach Admin Fundraising Group Support 430,492 19.3031 421,189 64.456 111200 172.1541 104.502 3.867 1.583 10,169 51.994 132,4111 11,5831 140.6121 23,450 37,67B 7.235 35.162 1,000 11.1951 34.967 5,817 {5,B17) 4,244 4.500 1,000 (4.2441 171,8891 11.0001 67,389 6.250 6,250 561,290 276.511 1240.2081 597,593 Total of Fund5 1,080,946 603,072 1311,3421 60,787 1,433,463 Pago 29 WORCESTERSHIRE ASSOCIATION FOR THE BLIND {A COMPANY LIMrrED B Y GUARANTEE} NOTES TO THE FINANCIAL STATEMENYS FOR THE YEAR ENDED 31 MARCH 2021 18. STATEMENT OF FUNDS ICONTINUEDI FUND DESCRIPTIONS Deslgnated Funds Volunteerlng Volunteers play a vital role in the delivery ol our services. we need lo ensure thal we have suifictent rèsources to recruit, train and svpport them. We were successful In securing £58k of funding during the yegr that enabled us to provide an enhanced project. However, we have a shorfall for the project for tms year. Grant applications are made for this area of work., however. funds are dasignated as the loial funds have not yel been secured. Wyre Forest Branch and Malvarn Branch Attendance fees are charged, and specific fundraising acb"vities take place to raise the funds for these two volunleer-led branthes. The funds r81sed are desi9nated for expenditure that enables the branches lo ¢onts"niJe lo operate. Local Eyes- Infomiation, advlce and svpport This is a three-year project which was initially due to come lo an end in July 2019, however, we h3V8 secured three more years of conlinuab.on funding. Although it has re￿Ived significant BIG Lottery funding from the Reaching Communities Programme, it does require us lo secure a further £193k worth of funding during the three years ol the project. We have a good track ￿Cord of raising additional funds for this area of work, and wll continue to rnake gryaft( applt¢alions. but we feel il Is prudent to increase the amouni of designated funds we alltscate lo this proiect. Fvnds have been expended on the cost of mowng to the doud. Additional ftjnds are required to replace computers that are more than S yeaTS old and a￿ required for the charity to operate. Building Mzintenance We operate from a large uld Lnjilding that requires ongoing Tnainlet)ance to ensure it is fil for us Lo occupy Bnd that we are meeting heatth and Safety requirements. W8 hav8 d85ignated fund5 based on average spend pe¥ year. Bid Wrlter We are heavily relianl on grant and trust income al present and need detjicated resour￿ to ensure that we can continue lo raise the necessary income to fund services. Restricted Funds Sansomgwalk Property This fund ￿lateS to the establishment ol the Bradbury Centre in Worcestef. The fund balance at the year- end represenis the net book value of the part of the property that was funded from restricted Income. Big Lottèry Re3ching Communities- Information. advice and 5YPPOrt This fund ￿preSentS a grant made by the Big Lottery towards Ihe cost ol our rnformalion, advice and support project that enables people with sight loss to make inforrned chokes, improve their mental wellbe¥ng, become more independent. feel less soaally isolated and lead rnore active lives Information. advi¢e and support Thi5 fund is made up of a range of grants that have been provided lo meet the funding gap in our information advice an¢J support project, as described above. Low Vislo This fund is Fnade up of a contr3cI provlded ioward5 the cost of njnning a community based low v45i£YI 85sessmenl service, including the provision of free prescrlbed m8gnifiers. Page 30 WORCESTERSHIRE ASSOCIATION FOR THE BLIND {A COMPANY LIMITED BY GUARANTEEI NofES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 18. STATEMENT OF FUNDS ICONTINLIEDI VolunteerFng Thi5 lund represents grants provided towards the cost of Volunteer Management, including, recDJitrnent, training and ongoing gUPPOrt. Dlgltal Technology This fund represents grants provided towards Ihe cost of adwce, training and support for peop￿ to rnake the n105t of drgital technology Influence. Engagement and Development This funtj represents grants provided towards the cost of listening to and representifTg the voices of people affected by sight loss, and developing new seNices and initiatives to ensure that the charity is fit to meet these needs in Ihe future Increaslng Our Reach This fund repres8nts grants that have been provided towards 8cliwty that prornotes the charity and enables more people to access our services or lo support our work Admin This fund repr￿nts gT8r+ts that have been provided towards our Core operating costs. induding the cost of purchasing new l.T equipment. Fundraising This fund represents a grant provided lo purchase fundraising materla18 to assist us lo raise income al events. Grt)up Support Th(s fund represents a grant towards the cost of our infomiab'on, adviTr and support project that enables people wlh sight loss to make informed chol￿s. impr¢we their mental wel1b￿ng, become more independent. teel less socially isolated 3nd lead mor8 activ8 lives Transfers between furtrds The transfers between funds are in relation to ensuiing Ihe designattrd funds are at the level thought to be required by the Board of Trustees. for the frjnds sel out. STATEMENT OF FUNDS - PRIOR YEAR Balance at 1 April 2019 Balance al 31 Mareh 2020 Transfers inlout Income Expenditure Gainsl (Losses) UnrestrScted Funds Deslgnated Funds Volunteering Wyre Forest Branch Local Eye5- Information Advice & Support Malvem Branch 15,656 115,6561 s,000 2,600 14,6201 3.217 6.197 100.000 5,000 2,224 100.000 1,715 10,000 3,085 13.6841 16001 12,6861 8.376 Page 31 WORCESTERSHIRE ASSOCIATION FOR THE BLIND IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 18. STATEMENT OF FUNDS ICONTINUEDI STATEMENT OF FUNDS- PRIOR YEAR (CONTINUED) 8alance at 31 March 2020 8alance at 1 April 2019 Transfers injout Gainsl ILosse51 Incotne Expenditur8 uilding Ma¢ntenanc Influence, Eng8gemenl & Oevelopment Bid Wrlter 6.000 12,4721 3,528 23,000 15,537 118.2681 110.7281 14.7321 9,391 14,200 172,417 5,685 140.3721 12.0901 135,640 General Fund8 General Funds Volunteering Inffuence, Engagement & Development 461,368 84.713 1154,5361 (18.2981 15.656 19,6191 363,628 15.656 4,732 4,732 461.368 84.713 1154.$361 2.090 19,6191 384.016 Total Unre5trl¢ted Fund5 633,785 90,398 1194,908) 19.6191 519,656 Restricted Funds Sansome Walk Property Big Lottery Reaching Communities Information, Advi￿ & Support Low Vision Volunieerin Digital Technology Influen￿, Engaoernent & DevelopmenL 440,019 19,5271 430,492 36,673 150,000 1122,2171 64,456 12,675 5,525 14,584 750 52.239 123,3921 14,6921 142,0701 3,867 1,583 10,169 12.964 33,000 {10,8021 35.162 19,000 113.1831 Page 32 5.817 WORCESTERSHIRE ASSOCIATION FOR THE BLIND IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 18. STATEMENT OF FUNDS ICONTINUEDI STATEMENT OF FUNDS - PRIOR YEAR (CONTINUED) Balance at 1 Aprfl 2019 Balan¢e al 31 March 2020 Transfers inlout Income Expenditure Gains1 (Lossesl Increasing Our Reach AdmSn Fundraising 4.913 16691 4,244 4.500 1,000 4,5(10 1,000 512.769 275,073 1226,552) 561,290 Total of Funds 1.146,554 36S,471 {421,4601 {9,6191 1,080,946 19. SUMMARY OF FUNDS SUMMARY OF FUNDS- CURRENT YEAR Balance at 1 April 2020 Balan￿ at 31 March 2021 Transfers Inlout InGom& Expenditure G35nsl ILosse51 Designated funds General funds Restricted funds 135,640 384.016 561,290 2.535 324,026 276,511 121.8781 {49.2561 1240.2081 147,9901 47.990 68.307 767,563 597,593 60.787 1,080,946 603,072 1311.3421 60.787 1,433,463 SUMMARY OF FUNDS- PRIOR YEAR Balance at 1 April 2019 Balance at 31 March 2020 Transfers Inloul Income Expenditltre Gainsl (Losses) Designated funds General funds Resiricted funds 172,417 461,368 512,769 5,685 84.713 275,073 140,3721 1154.5361 1226,5521 (2,0901 2.090 135.640 384.016 561.290 19.6191 1.146,554 365,471 1421,4601 19.6191 1.080.946 Pa9e 33 WORCESTERSHIRE ASSOCIATION FOR THE BLIND IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 MARCH 2021 20. ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR Unrestricted Restri¢ted funds ftrnds 2021 2021 Total funds 2021 Tangible fixed assets Fixed 3sset investments Investment properly C￿￿￿t asset5 Creditors due wthin one year 334,492 334,492 354.950 353.95S 459,045 168,9791 354.950 268,485 244,014 131.5791 85,470 215,031 137,4001 TOTAL 835.870 597,593 1.433,463 ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR Unyestricted funds 2020 Restricted lunds 2020 Total funds 2020 Tangible fixed assets Fixed assel investments Investment property cur￿n1 assets Cieditors due wiihin one year 34LI.875 340,87S 294.163 353,955 191,307 199,3541 294.163 266,485 918 143.9101 85.470 190.389 155.4441 TOTAL 519,656 561,290 1,080,946 Page 34 WORCESTERSHIRE ASSOCIATION FOR THE BLIND IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 21. RECONCILIATION OF NET MOVEMENT IN FUNDS TO MET CASH FLOW FROM OPERAYING ACTIVITIES 2021 2020 Net In￿rne/eMPenc1itUre for the year {as per Slalement of Finandal Activiliesl 352,517 165,6081 ADJUSTMENTS FOR.. Depreciation charges Gainslllossesl on investments Interest receivable Decrease in Stocks DeCreasellinc￿8sel in debtors Inuèaselldècreasel in creditors 14,007 {60,7871 (101 12.010 9,619 171 811 11.2431 21,885 S23 (30,3751 NET CASH PROVIDED BYI{USED INI OPERAfiNG ACTIVITIES 275,875 122.5331 22. ANALYSIS OF CASH AND CASH EQUIVALENTS 2021 2020 Cash in hand 447.649 179,388 TOTAL CASH AND CASH EQUIVALENTS 447,649 179.388 23. ANALYSIS OF CHANGES IN NET DEBT At l Aprfl 2020 Cash flows At 31 March 2021 Cash at bank and in hand 179.388 268,261 447,649 24. PENSION COMMITMENTS The Chartiable Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group tn an independently administered fund. The pension cost clJarge represents contributions payable by the group to the fund and amounted to £5,541 12020 - £6,695). Contn'buts'ons tolalling £1,23812020.' £1,766) were payable lo the fijnd at the bolance sheet dale and are ncluded in creditors. Page 35