Myvlslon Oxfordshire Supportlng Visually Impaired People Myvision Oxfordshire Ltd Trustees, Annual Report and Accounts Year Ending 31 March 2024
Contents Chair's Statement 1. About Myvision 1.1 Objectives and Strategy 2. Our Performance 2.1 Our Services 2.2 Progress Towards our Objectives 2.3 Risks and Challenges 3. Our Organisation 10 3.1 Governance 10 3.2 Volunteers and Staff 11 4. Financial Statements 13 Independent Examiners Report Statement of Financial Activities Balance Sheet 16 17 18 Notes to the Financial Statement 19 Appendix- Reference and Administrative Details 30
yvision Oxfordshire Ltd Chair's Statement l am pleased to be able to report another year of progress for Myvision Oxfordshire. Our mission is to support visually impaired people in Oxfordshire, as we have been doing for 150 years. The services that we offer, and how we offer them, change over time and two years ago, we set out on a strategy to move the organisation fonvards, with four key objectives". To establish a firm financial footing. To expand the services that we offer across Oxfordshire. To expand the range of services that we offer. To be recognised as the key provider of such services. First and foremost, we must finance our activities. we are a charity without permanent funding, and we raise money from a variety of sources. In the last two years we have built up a small and dedicated fund-raising team, which is now achieving considerable success across a wide range of donors, including regional and local government, charities, companies, and individuals. The success shows in our results. in 2021122 income excluding legacies was £227,729 and in 2023124 it was £501,726, in other words more than double in just two years. That success has enabled us to build our staff levels to expand the range of services that we offer. It is our staff that make us the success we are today; they deliver the majority of our services to our clients, along with support from our volunteers. We are also proud that we practice what we preach; we value lived experience of sight loss and over half our staff team have some form of visual impairment. This means that they readily engage with our clients as they understand the issues and know the difficulties first hand. The increase in staff means that in the last year we have been able to expand our offerings across the county, setting up new community groups in Faringdon, Abingdon, Wantage, Henley, Wallingford and Headington and strengthening our service offerings elsewhere.
yvision Oxfordshire Ltd We have also been able to expand our range of services, for example we are building upon a new Green Walks pilot project, and we are investing in technology that helps those with sight loss. As a result of our activities, l am confident that we are increasingly recognised as a key service provider regarding sight loss. This means that we are well positioned both to raise more funds and to access and work alongside other service providers in the region, enabling a more integrated approach to dealing with the many problems associated with sight loss. As well as our staff, I must give thanks to the many volunteers who help us in so many ways, and to our Trustees who provide me with support and guidance as we debate how best to manage and grow. l also give thanks to the many donors who contribute to our work. We have had a remarkable couple of years since we embarked on our strategy of consolidation and growth. I know that we must not get ahead of ourselves and whilst we will continue to grow, I see the next year or so as building on what we have and making sure that we do not get over- extended financially. Details on all the above activities and a broader description of the range of services that we offer are contained in the Annual Report. This is a lengthy document but contains a lot of valuable information. I hope that you find time to read it and reflect on the remarkable journey that we are on, to build Myvision into being able to support more clients with a broader range of services than ever before.
yvision Oxfordshire Ltd About Myvision 1. About Myvision 1.1 Objectives and Strategy The charitable objective of Myvision Oxfordshire, as set out in the governing document, and its main aim, is to support and promote the independence of blind and partially sighted people within Oxfordshire. The Trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties. The Board and their staff have long recognised the need for a comprehensive and coherent strategy in a changing community. Currently, the areas of focus are: Creating a stable long-term platform of funding sufficient to enable Myvision to support the baseline set of services and to reach a satisfactory level of reserves. Extending Myvision's geographical reach within Oxfordshire to reach a broader base of clients. Moving to a position of being recognised as a key provider of services to those with visual impairment in Oxfordshire. Expanding the range of services offered to people in Oxfordshire with visual impairment. Our objectives for 2022-2027 are: To be actively connected with 7,000 people throughout Oxfordshire providing skills and support to help them thrive in the modern world. This will be achieved with the following key priorities: Identity. Form a new name, brand, values, and identity shared by our staff, trustees, volunteers, and clients.
yvision Oxfordshire Ltd About Myvision Community. Provide greater outreach into the wider community, services are shared across Oxfordshire, both in rural and urban areas. The Resource Centre is a hub and resource to reach out and engage with people within their own community. Technology. Ensure visually impaired people have the training and knowledge to get online, connect and use tech to their full potential. Well-being. Provide the right support, through counselling, befriending, social and sports activities, ensuring people are living healthy and active lives.
Myvision Oxfordshire Ltd Our Performance 2. Our Performance 2.1 Our Services Helpline The Myvision helpline is available Monday - Friday 9am 5pm 1 Oam - 4pm. Staff work with visually impaired people and their families to provide a connection across the county. Befriending The Myvision Oxfordshire Befriending SeNice is available across Oxfordshire for those that need it. Visually impaired people are matched with volunteers in their area or over the telephone depending on the individuals, requirements. Befriending can provide a vital connection for those that are feeling isolated and help many people enjoy activities within their community. Infom7ation and advice Information and advice can be given over the telephone or in person at our Resource Centre or at one of our many meetups and information days across the county. Advice can range from simple adaptations, gaining employment, transport, and much more. Equipment Provision The Resource Centre provides a vital hub for Oxfordshire, demonstration equipment is available to try, this includes large video magnifiers, smartphones and tablets, or simpler items such as talking clocks and watches. Technology Training Technology is a big part of society, but many visually impaired people are left behind and feel cut off. The technology training service provides one- to-one support and training on using devices to get online and connect with others.
yvision Oxfordshire Ltd Our Performance Social Activities There are many thriving social groups across the county, these can be places to meet new people, learn, and support each other and to help people feel more connected with their community. As part of Myvision's Community Engagement Project, several new groups have been started in 2022123.. Henley-on-Thames, Wallingford and Headington. Children and Young People Support for young people and their families is vital. Myvision connects with many visually impaired children and young people in Oxfordshire. Our service includes support and guidance, social activities, specialist sports and tailored workshops. Counselling Volunteer counsellors are available to chat either in person or over the telephone with visually impaired people across Oxfordshire. The service is unique in that the counsellors all have lived experience of sight loss themselves and have a deeper understanding of the needs and challenges someone might face when losing their sight. Sight Advice Desk The Sight Desk at the John Radcliffe Hospital reopened in October 2022. Volunteers are available to inform and support those who attend Eye Hospital appointments. Community Engagement Project Myvision launched its new Community Engagement Project in June 2022 covering South Oxfordshire and Oxford City. The project aims are to bring Myvision services into local areas across Oxfordshire, including Information and Equipment days at local libraries and community centres, peer-to-peer support groups, befriending partnerships, awareness raising and training. In June 2023, the project was launched in Vale of White Horse and is set to launch in West Oxfordshire and Cherwell in 2024.
Myvision Oxfordshire Ltd Our Perforniance Green Walks In 2023, Myvision Oxfordshire worked with Oxfordshire County Council and Natural England on a report highlighting the barriers visually impaired people face in accessing green and blue spaces. From the report, a pilot project was established to set up a walking group in the Didcot area. Further funding was secured, and the walking groups will expand across Oxfordshire in 2024125 enabling people to access green spaces within their comrnunity. 2.2 Progress Towards our Objectives The key objectives carried out through 2023124 have been the continued development of the Community Engagement Project, expanding in 2023 to the Vale of White Horse area with new groups in Faringdon, Abingdon and Wantage. The Get Online Get Connected Project grew, and workshops were held across the county including one-to-one training and the launch of the tech buddy partnership scheme. A pilot Green Walks Project was also established. More generally we have strengthened and expanded our services across the county. The organisation's aims for 2024125 are to continue to grow the Community Engagement Project across the county, reaching into West Oxfordshire and CheNell. The Get Online Get Connected Project will continue to expand across the county and enable more people to get online. The Green Walks Project has secured further funding to expand across the county and work in Abingdon, Banbury, Didcot, Oxford and Witney The Children and Young People's work is set to expand with a range of new activities, peer support workshops and more. 2.3 Risks and Challenges The Trustees regularly review the major risks which the charity faces, and systems are in place to mitigate these risks while ensuring that the needs of Myvision Oxfordshire continue to be met. Risk assessments are conducted as required and a register is maintained to monitor these risks.
Myvision Oxfordshlre Ltd Our Performance Project delivery risk To mitigate the risk of not delivering projects in line with the objectives and within the approved budget, we focus on providing services that are suitable to the size of the organisation aligning with the strategy and business plan. Where possible, Myvision also works in collaboration with other organisations to provide the best possible outcomes for the blind and visually impaired. Inability to secure sufficient funding As a charity without long term sources of income perhaps our greatest challenge is to raise sufficient funds, year after year, to enable us to continue to offer the range of services set out above. As noted in the Chairman's Statement, we have been very successful in the last two years in doubling our income, due to the efforts of our fund-raising team and our management. The intention remains to diversify and increase Myvision Oxfordshire's sources of income to reduce the risk of damage when individual sources fail. The Finance Committee regularly reviews our reserdes levels, fund raising activities and maintains a close watch on both income and expenditure. Regulatory and governance risk Management and the Trustees monitor and oversee the risk management process. They assess new regulations in detail to understand the impact on Myvision's policies and processes and where required seek advice and support from professional advisers, including solicitors, investment managers, property consultants and accountants.
yvision Oxfordshirè Ltd Our Organisation 3. Our Organisation 3.1 Governance The Board of Trustees governs the charity and delegates day-to-day management of the charity to the Chief Executive. The Board of Trustees meet with the Chief Executive four times per year and as necessary. The board regularly reviews the skills and experiences of the board members. When gaps are identified a recruitment process will begin, a panel made up of at least two trustees and the Chief Executive review applications and inteniiew candidates to present to the board for approval The Charity CEO inducts new trustees as appropriate. This includes reference to the Charity Commission guidance for new trustees. When necessary, the trustees seek advice and support from the charity's professional advisers, including property consultants, investments managers, solicitors, and accountants. The current Trustees comprise: Professor Adrian Hill (President) Guy Lawfull (Chair) Julian Bagwell (Vice Chair) Chinonye Nzewi (Treasurer) Simon CrLJden Anna Driver Simon Holt (Co-opted May 2024) io
Myvision Oxfordshlre Ltd Our Organisation Janet Johnson Anita Lightstone Margaret Simpson Information on the Trustees can be found on our website, MyVision.org.uk At the 2024 Annual General Meeting, the following trustees will be stepping down from the board: ProfessorAdrian Hill Simon Cnjden Margaret Simpson Professor Adrian Hill and Margaret Simpson are standing for re-election while Simon Cruden will be retiring from the board. Simon Holt, currently a co-opted trustee, is standing for election to the board. 3.2 Volunteers and Staff Volunteers Myvision Oxfordshire relies on the help of over 90 volunteers who make home visits, contribute to technology training, send out the newsletter, help in the office, pick up and count collection boxes and run social groups. Their contribution is invaluable and hugely appreciated. staff The staff team brings a wide range of valued expertise and experience to supporting people with visual impairments and their careers, as well as other professionals and agencies, with a wide variety of concerns and queries. The team works closely with our partners in the health, li
yVi$ion Oxfordshire Ltd Our Organisation education, social care and charity sectors to pursue an improved quality of life for people living with sight loss in Oxfordshire, and for their carers. Myvision Oxfordshire highly values lived experience of sight and to date over 50 % of the staff team live with a visual impairment. 12
Myvision Oxfordshire Ltd Financial Review 4. Financial Statements Introduction The Trustees (who are also directors of Myvision Oxfordshire for the purposes of company law) are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and regulations. The financial statements comply with current statutory requirements, being the Statement of Recommended Practice {SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard 102, effective 1 January 2015, with Update Bulletin 1 , and Myvision Oxfordshire's governing documents. Unrestricted Funds The net surplus (after transfers and revaluation of investments) on unrestricted funds for the year was £154,134 (2023." net surplus of £40,394). Increased emphasis on fundraising led to a number of successful grant applications. Unrestricted funding pays for basics like staff overheads and other expenses towards charitable activities though essential, tend to be unattractive to donors. Investment policy Myvision Oxfordshire held investments valued at 31 March 2024 at £143,081 (2023". £91,760). The increase was largely due to an additional £50,000 invested in September 2023 and a small gain in the valuation of holdings over the last 12 months period due the market improving. The dividend received for this fiscal year was £6,928 (2023: £4,962). Reserves policy Myvision Oxfordshire plans to hold free reserves to cover six months of expenditure, excluding depreciation, to ensure that it can meet its objectives in the medium term. As of 31 March 2024, the value of freely available unrestricted reserves was £408,280 (2023: £246,247) (see p.29), which meets this policy. J3
MyVi$ion Oxfordshire Ltd Financial Review The amount held in reserves was monitored during the year as part of the Charity's budgetary and risk management process. Given the inflationary environment in the year resulting in increased costs and following the expansion of services offered across Oxfordshire, reserves were increased to 10 months to meet any unforeseen operational costs and to avoid any disruption to services. Designated Funds Included in the freely available cash reserves of £408,280, there is balance of £48,876 set aside for Community Engagement within the Vale of White Horse district. This was a generous donation received in 2023 from the closure of Goodlakes blind charity. Also, there is a balance of £65,924 to go towards the Community Engagement Project. Restricted Funds The net surplus (after transfers) on restricted funds for the year was £19,392 (2023: net deficit of £46,053). Comparison to year 2022-23 It is noted that during the year under report, our expenditure was less than income (excluding depreciation and before legacies) by £29k. The total amount of legacies received during the fiscal year was £160K. Legacies are vital to Myvision Oxfordshire's work and should be used to fund expansion across services rather than support our core work. The fundraising strategy is to focus on multi-year grants, followed by larger trusts, whilst continuing to build other income streams. 2023-24 had a good start and fundraising picked up within the year which enabled us to start 2024-25 with a solid funding base, including the second year of our four-year grant from the National Lottery Community Fund. Summary The total surplus in the year, taking restricted and unrestricted funds together, was £173,526 (2023: deficit of £5,656). Together with balances brought-forward of £748,315 the total of Myvision Oxfordshire's funds at 31 March 2024 was £921.841 of which £464,292 was held in tangible fixed assets (principally Bradbury Lodge). Myvision Oxfordshire has sufficient unrestricted reserves to meet its reserves policy. 14
yvision Oxfordshire Ltd Financial Review The Trustees are satisfied that the charity is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for the year by virtue of section 477, and that no member or members have requested an audit pursuant to section 476 of the Act. The Trustees acknowledge their responsibilities for.. (i) Ensuring that the charity keeps adequate accounting records which comply with section 386 of the Act, and (li) Preparing financial statements which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the charity. The financial statements have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006 and with the Financial Reporting Standard 102. Signed for and on behalf of the Trustees Date: jo Iq1201Lk Guy Lawfull Chair 15
Myvision Oxfordshire Ltd Independent Examinerfs Report Independent Examinerfs Report to the Trustses of Myvision Oxfordshire Ltd I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024 which are set out on pages 16 to 29. Responsibilities and basis of the report As the charity's trustees of the Company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act"). Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('Ihe 2011 Act"). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145{5)(b) of the 2011 Act. Independent Examlner's statsm6nts I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that: • accounting records were not kept in accordance wlth section 386 of the Companies Act 2006., or • the accounts do not accord with such records., or . the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination., or •the accounts have not been prepared in accordan with the Charities SORP (FRS102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Nicola Cadwallader FCCA Independent Examiner David Cadwallader & Co Limited Chartered Certified Accountants Suite 3 Bignell Park Barns Chesterton OX26 1TD Date 16
yvision Oxfordshire Ltd STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) 2023124 2022123 Noles un$t¢t¥d Fund5 R•$tiictsd Total Fund8 Fund8 202V24 UnrestTiCted Restrlct8d Funds Funds Tol81 Funds 2021r22 Income from.. Oonatsons L0$ Charitable acthvities Other trading activitles Investments Other Incomo 185,112 160,254 7,382 2.766 11,428 273.978 459,090 160,254 7,382 2.766 11.428 170,871 88,500 7,280 1,805 5.758 83,225 254.096 66.500 7,280 1,805 5,758 Total Incom• Exp•ndltur• on: Ralsing fund8 Charltable acllvlllgo 25 64,994 60,854 511 61,165 Total &xpendltur• Net gain8 I (Ios89$1 on 5nvestments N•t Incom•lloxp•ndltur•) 195.066 121,540 173.526 111,275 1116,9311 (5.6561 Trnn8hr8 b•tw••n lund• N•t Movom•nt In Fund• R•con¢lll8tlon of fund•: Funds broughl-forward Unreslrided lund8 Restricted funds T¢)tal fund8 carrl•d forward 154.134 19,392 173,528 40.394 146,05111 IJ,8061 393.024 393,024 393,024 393.024 Al of th& above amounts relate lo conlinulng a¢VitIeS. All recognised gains and losses are disclosed in the Statement of Financial Activrties. The notes on pages 18 10 29 form part of these financial statements. 17
yvision Oxfordshire Ltd BALANCE SHEET AS AT 31 MARCH 2024 Notes Total Funds at 31 Totsl Funds at 31 March 2024 March 2023 FIXED ASSETS Tangible Assets Investments TOTAL FIXED ASSETS 464,292 143 081 607 373 477.590 CURRENT ASSETS Stock Debtors Cash al Bank and In Hand TOTAL CURRENT ASSETS 992 12.145 311 527 324,664 1,870 9.255 177 319 188,444 CURRENT LIABILITIES Creditors.. amounts falllng due wllhln one year 10 10.196 9,479 TOTAL CURRENT LIABILITIES NET CURRENT ASSETS NET ASSETS REPRESENTED BY: General Reserves.. Unre51ricted funds Reslricled funds TOTAL FUNDS 11112 11112 547,158 393,024 The Iruslees are satisfied that the charity is enlilled to exemption from the provisions of the Companies Act 2006 Ilhe Acll relating lo the audit of the financial statements for the year by virtue of seclion 477. and that no m8mbeT or members have requested an audit pursuant to section 476 of the Act. The trustees aoknowledge their responsibilitles for.. ensuring that the charity keeps adequate accounting records which comply with section 386 of the Act, and PTeparing financial statements which give a true and fair view of the stsle of affairs of the charity as al the end of the financial year and of ils profil or loss for the financial year in accordance with the requirements of section 393, and which otheThvis8 comply with the requirernenls of the Act relating to financial ststemenls, so far as applicable to the charity. Th959 financial statements have been Prepared in accordance with the special provisions for sm811 companie6 under Part 15 of the Companies Act 2006 and with the Financial Reporting Standard 102. The financial stalements w&re approved by the Management Committ6e on ... on its behalf by.. G Lawfull, Chair Notes on pages 18 to 29 fom part of these financial statements. 18
Myvision Oxfordshira Ltd NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1. PRINCIPAL ACCOUNTING POLICIES Accountlng Convontion 1.1.1 The financial statements have been prepared under Ihe historical cost convention, as modifi'ed by the revaluation of certain assets, and are in accordance with applicable accounting standards. In PTeparin9 the financial statements, the Charity follows best practice as set out in the Charities SORP {FRS 1021. 1.1.2 The principal accounting policies adopted in the preparats'on of the Financial Statements are detailed in the paragraphs below. Judgments and kéy Sour¢•8 of •¥timalion uncertalnty These are either included in the notes below, or are of an immaterial level. Fund8 Accountlng 1.3.1 In accordancè wllh the SORP the fijnds have been analysed under the following specific headings.. 1.3.1.1 Unrestricted Fund5. which are available for any purpose within the aims and objectlves specified In thè Mèmorandum and Articles of Association. Funds can be designated for specific purposes. 1.3.1.2 Rastricled Funds. which are Subject to specific Conditions sel out by the donor8. 1.4 Incoma 1.4.1 Income is reGognised in accordance with the SORP. In general, il is recognised in the period in which the A$$oGialion is enlilled to receipt, there is sufficient certainly of receipt and the amount can be measured with reasonable certainty. 1.4.2 Income is deferred only when the charity has to fulfil conditions before becoming enlrtled to it or where the donor has specified that th8 income is to be expended in a future penod. 1.4.3 Legacies are accounted lor as they are received or if, before receipt, il becomes probable that il wlll be received and the value can be estimated with sufficient accuracy. Exyndlture •nd Basls of Allocatlon of Costs 1.5.1 Expenditure is accounted on an accruals basis. 1.5.2 The Association is not registered for Value Added Tax and any VAT charged to the Association is Included in the cost of thè expense lo which it relates. 1.5.3 The majority of costs are d1cl1Y attributsble to specific charitable activits"es. ere such costs relate to more than one activity, they have been apportioned on 8 reasonable. justs'fiable and consistent basis. 1.5.4 Pay and support costs have been allocated in relation to tim8 spent on specific aetlvlli88. Charllablo Activity Costs 1.6.1 Charitable Activity Costs include the cost of goods and services required to meet the charitable objectives plus support costs attributable lo those activities. C•pitalisatlon and Depreclatlon of Tanglble Flxed A88et8. 1.7.1 All assets costing more than £SCHI are capilallsed, unless funded directly by grant. 1.7.2 Depreciation is provided using the following rates and bases lo reduce by annual instalments the cost of the 12ngible assets over their eslimaled useful lives.. Freehold Propety Straighl-line Furniture Straighl-line Office Equipment Straight-line 10% 20% 19
yvision Oxfordshire Ltd NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Inv•stments 1.8.1 Inveslrnenls are included on the following basis: 1.8.1.1 Listed investm8nts al market value al the balance sheet date. 1.8.1.2 Realised and unrealised gains and losses on investments are shown in the SOFA in the year in which they arise. 1.9 Stocks 1.9.1 Stocks are stated at the lower of cost and net realisable value. 1.10 Tax Status 1.10.1 The Association is a registered charity and is exempt from any taxation on it5 charitable activities, wlth the exception of Value Added Tax. 20
yvision Oxfordshire Ltd NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 INCOME 2023124 2023124 2023124 Unrestricted Restricted Total Donallons and L•gacio8 Membership Donations Grants Total 2,258 56,968 125 886 185112 2,258 60,740 396 092 459 090 3,772 270 206 273 978 L¢gael•s Charltsblo A¢tivitigs Charges,sales,etc Total other Tradlng Actlvltleg Hire of rooms, Advert etc Total Investments Oividends Interest Total 160254 6,928 6.928 Other Incom• Access to work Total 14 2022123 2022123 2022123 Unrestricted Reslri¢ted Totsl Donatlon• and Legacle• Membershlp Donations Grants Total 2,684 106,179 2,684 107,675 14 1,496 Legacle8 Charltablo A¢tlvltlfr• Charges,sales,etc Total Othfrr Tradlng Actlvitl Lettings, etc Total Investmgnt• Dividends Interest Totsl 2A 4,962 796 758 4,962 796 other Incomo Access to work Total 382 21
MyVSslon Oxfordshlre Ltd NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 EXPENDITURE 2023124 2023124 2023124 Unrestricted Restricted Total Ral•lng fund8 Employees 51,663 51,663 Professlonal fee8 Support costs Total Charltabl• Acllvltl Stsff con8ull8nts and 44,688 233,412 278,100 Volunteers. Iruslee8 In 1,150 1,024 2,174 Depreciatlon 7,718 9,359 17,077 Buildlng related 33,415 6,053 39,468 Utllitl88 6,453 6,453 IT and Phonés 20,218 256 20,474 Cleaning, etc 3,957 3,957 Insurance 5,574 5,574 Client s&Nices 9,078 4,087 13,165 Markety'ng 2,911 2,911 Office expenses, etc 11,639 1,437 13,076 Banking ¢osl$ 459 459 Govemancevsalaries 28,567 28,567 Govemance-other 7,406 7,406 ations. 717 Total 2022123 2022123 2022123
yvision Oxfordshire Ltd NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restricted Total Ra181ng fund8 Employee costs 41,944 41.944 Professional fees Support costs Totsl Charltablo Aclfvlti Staff and consultan18 28,091 146,767 174.858 Volunteers, Inc Iruslees 743 674 1.417 Depreciation 6,914 9,514 16,428 Building related 14,781 14,781 5,981 5,981 IT and phones 17.680 72 17.752 Cleaning, etc 2.781 2,781 Insurance 4,903 4,903 Client s&rvices 8.513 1,337 9.850 Marketlng 6,479 8.479 Office expenses, elc 8.500 1,866 10.366 Banking costs 529 529 Govemance-salaries 24,179 24,179 Govemance-other 7,554 7,554 Allocations" Total he net allocations equate lo the support costs allocated to fundraising and governance. 23
yvision OxfordshI Ltd NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 4. NET INCOMEIIEXPENDITUREI FOR THE YEAR This is stated after charging 2024 2023 Independent Examiner's Fees 5. EMPLOYEE COSTS 2024 2023 staff costs.. Salaries National Insurance costs (net of Employment Allowance) Pension costs 300,575 21,465 204,276 12,614 No employee received more than £60,000 per annum The average number of employee8 durlng the year, calculated on a full-time equlvalenl basis 2024 2023 Fundraising Charflable Actlvltlas Govemance 24
Myvision Oxfordshire Ltd NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 6. TANGIBLE ASSETS Co8tN•lu•tson stsrt of yoar Additions Disposal8 End of year Freehold property Office equipment FurnItu, et¢ 620,034 620,034 22,690 3.780 26,470 11,738 11,738 Total 644,463 3,780 658,243 Doprfrclatlon Start of year Dopn on dl8posod a88frts Charye for year End of yoar Freehold propety Office equlpment 160,300 12,401 172,701 4,973 4,538 9,511 Furniture, etc 11,600 138 11,738 Total 176,873 17,077 193,950 Nat Book Value Stsrt ofyoar Addltlons l No18ffect of dl8po8al8 Charye for yoar end of year Nat Book Valufr 477,690 3,780 17,077 464,293 7. INSURANCE VALUE OF FREEHOLD LAND AND BUILDINGS 7.1 Th& Bradbury Lodge premlses are Insured for a totsl of £850.000 based on a professional valuab'on (note that the value for insurance purposes Is different to the sale value of the propetyl. 8. FIXED ASSET INVESTMENTS Flxed asset investments consist of UK Ilsted securllies and omprise.. M & G Chafilund Equitles Investment Fund for Charitles Ilncomel CAF Bond Income Fund 2024 2023 143,081 78,947 The hislorlc cost of the Investments Is £75,86012023. £75,8601- There was £62,813 invested in the M & G Charifund during the financial year. The CAF Bond fund ¢lo5ed in June 2023 and the balance was transferred lo M&G. 25
MyVl8lon Oxfordshire Ltd NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 9. DEBTORS 2024 2023 Debtors Pre-payments 12,145 7,842 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Operating creditors HM Revenue and Custom6 Pension contributions Receipts In advance 3,979 6,085 132 5,636 3,713 132 26
yvision Oxfordshiro Ltd NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 11. FUNDS The following is a summary of the tran$a¢tions in the year on the various funds-. Balanc• b1 Nèt incomfngl loutgoingl rnsourtes. b•for• trnnsferd Trnnsfern Gain8 1 1088 Balanc on inveBtments Unrestrlcted Funds Gener81 268,105 12,090 213,445 {1,4901 158,459) 423,75 10,60C Bullding Repair and Maintenance OlherlNewsletter & Name Change and Awareness) 570 118,097} 17,627 Communlty Engagement, and Vale of Whltehorse 112,259 540 112,799 Total Unr•8trlci8d Fund• 393,024 194,398 140,9321 668 547,15e R88trlctod Funds GC Workshop Comm Eng Oxford Clty 2,000 17231 {22,3391 1.271 22,339 Advlce, Support, Information Premises 26,181 18,3421 26,181 318.11f 326,458 Children & Young people actlvites Counselling Befn'ending l vislllng Eye Hospital Children & Familles 2,372 {865} 11,454) 3,058 865 695 759 17.084} 19.350} 11,010 13,9141 17,032) 121.540) 172.859 7,084 4,971 Comm Eng Slh Oxtshire National Lottery Fund Equlpment and Demo Other 4,379 11,01( 9,091 5.944 374,681 921,841 13,011 8,062 355.291 4,914 40,932 Total Rogtrlctsd Funds TOTAL FUNDS 748,315 668 27
yvision Oxfordshlre Ltd NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12.1 NET ASSETS The Trustees consider that the Association's net assets are available and adequate, for all funds. to enable it to fulfil ils obligations. 12.2 General Fund This fund covers 811 income and expenditure not covered by the other specific funds. 12.3 Bulldlng Repalr and Malntenance To provide for the repair and maintenance of Bradbury Lodge and the Campoli Centre. 12.4 Premls•s Fund Thi5 fund was used to record tranSaconS relating to the renovation and building costs of Bradbury Lodge and the Campoli Cenlre. 12.5 Advlt6, Support and Inforrnatlon All transactions relating to the advice, support and infomiatlon provided to the vlsually impalred and their Carers. 12.6 Coun8elllng This fvnd specifically covers the counselllng servlce. 12.7 B6frl¢ndlng l Home V181tlng During the pandem. the Befriendlng scheme was Introduced to keep In regular contact wllh clients. Th15 will continue beyond the pandemic. 11 incorporates the Home Visiting Scheme as clients were unable lo be visitèd during the pandemlc. 12.8 Ey• Hoopltsl This covers the services provided al the Oxford Ey8 Hospltal whSch have been unable to continue during the pandemic. 12.9 Chlldren and Famlll•s The provision of sorvices and actlvllies for chlldren and young people affect8d by visual impairment, and their famllias, 12.10 Soclal Inve8tment Bu8lne88 Grant Grant received from Reach Fund lo finance a5s1stancé In preparing business plan. 12.11 Coffee Clubs F8¢ilitabng social rneetings for visually impaired within local cornmuni9s. These have not been ablg to be held during the pandemic. 12.12 IT Training Provision of tuition in use of IT devices enabling visually impaired clients to access technology that is now part of everyday life. This training has been very much curtailed during the pandemic. 12.13 Community Engagement. South Oxfordshlre. Vale of Whitehorse and Oxford Clty Funds received to support our expansion of services across the several districts. 28
Myvision Oxfordshire Ltd NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12.14 Communty Engagèmgnt Valè of Whltehor80 Funds received to support the expansion of services across the va of White Horse dlstrict 12.15 Got Onllne Workshop8 Funds to support our Get Online Get Connected Workshops. starting in 2023-24 13. ANALYSIS OF ASSETS BEtWEEN FUNDS Tanglble Flxed Assets Inv•stm•nts Not Currenl Assets Long Term Ll•blllt]e$ Total Unreslrict8d Funds 138.878 143,081 265,199 547,158 Reslri¢t8d Funds 325,414 49,269 374,683 TOTAL 464,293 143,081 314,468 921,841 14. 14.1 TRUSTEE5' EXPENSES AND EMOLUMENTS No payments have been made during Ihe year to Irustee$12023'. £Nil). 16. 15,1 CAPITAL COMMITMENTS The Association has no Capital Commltmenl at 31 March 202412023.. Nill. 16. RELATED PARTY TRANSACTIONS 16.1 Th8r& are no related party transactions that aré required to bè disclosed undèr th& Financlal Reportlng Standard. 29
yvision Oxfordshire Ltd Appendix APPENDIX 1: Reference and administrative details Full Name of Charity: yvision Oxfordshire Ltd Governing Document: Memorandum and Articles of Association Registered Company Number: 07465300 Charity Registration Number: 1140556 Chief Executive: Mark Upton Trusteeslcompany Directors: Prof Adrian Hill (President) Guy Lavrfull (Chair) Julian Bagwell (Vice Chair) Chinonye Nzewi (Treasurer- elected September 2023) Simon Cruden Anna Driver Simon Holt (co-opted May 2024) Janet Johnson Anita Lightstone Margaret Simpson Yvonne Rainey - retired September 2023 Robin Birch (Treasurer) - retired April 2023 Registered Office: Bradbury Lodge Gordon Woodward Way Oxford OX14XL Web: wvM.MyVision.org.uk E-mail: info@myvision.org.uk 30
yvision Oxfordshire Ltd Appendix Bankers: CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Horsey Lightly, Solicitors 2 West Mills Newbury Berkshire RG14 5HG Solicitors: Independent Examiner: Nicola Cadwallader FCCA Independent Examiner David Cadwallader & Co Limited Unit 3 Bignell Park Barns Chesterton Near Bicester Oxfordshire OX26 1TD 31