REGISTERED COMPANY NUMBER: 07693820 (England and Walesl
REGISTERED CHARITY NUMBER: 1143368
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL sfATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
FOR
r40RTH WALES SOCIETY FOR THE BLIND
LUON
SOCIET￿ fr
williamsdenton
Williams Denton Cyf
Chart¢red Certified Accountants
Glaslyn
Ffordd y Parc
Parc Menai
Bangor
fjwyn￿d
LL57 4FE

NORTH WALES SOCIETY FOR THE BLIND
CONTENTS OF THE FIIYANCIAL STATEMENTS
FOR THE YEAR EF4DED 31 MARCH 2025
Page
Report of th¢ Trnste¢s
I to 6
Ind¢p¢nd¢nt ￿A￿l￿tr,3 Report
St#tement of Financi￿ Aetiviti¢S
Ballnee Skeet
9 10 10
Cash Flow Statement
Notes to th¢ Cash Fl•w Stat¢ment
12
Notes to the Finanelal Ststsments
13 to 27

tYOR TH WALES SOCIETY FOR THE BLIND
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
The t￿Ste¢S who are also directOTS of the charity for the purposes of the Compani¢s Aet 2006, pr¢s¢ttt their r¢port with
th¢ financial slatements of the charity for the year ended 31 Maich 2025. The It￿le¢S hav¢ adopted th¢ provisions of
Accounting and Reporting by Charities." Statement of RecoM￿¢nded Prd¢tice applicabl¢ to ¢hariii¢s preparing their
accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Rwublic of tr¢land (FRS 102)
(effCcti￿ l January 2019).
0￿ECTIVEs AND ACTIVITIES
Objeedves #ims
The object of thc ¢haTity shall be to promote the welfare of people who have Sight loss residing in the
County Authorities of Gwyn¢dd. Angl¢sey, Conwy, Dcnbigh, Flintshire, Wrexham and North Powys. To achi¢v¢ this
the charity..
- provides it)forn)ation and adviee to people who have sight loss and to their families and carers,.
- provides a range of w¢lfar¢ support and social activities.
- helps people who hav¢ sight Ioss to livc independently.,
prorllotes awareness of Sight loss issues.
In firtheran¢¢ of this objective bul not Otherwi￿ the charity has the following powets:
l) To act as att advisory and consultative body on all ll￿tters affecting the welfare of the blind and partially sighi
2) To consider and rnak¢ recommendations for improving the totsl provisioJLS of senryc¢g io blind ond partially sighted
persons.
3) To advi￿ on wch services as may b¢ r¢qu¢$ted by the local authorities of the ar￿.
4) To encourage tb¢ provision of employment for th¢ blind and partially sigbted persons in the area.
S) To provide a f(>rum for the cxchange of inforn￿tion and expertist b¢tw¢¢n all oiganisations wotkiDg on b¢half of
the blind and partially sishted in the ar¢a.
6) To &ssist any such Charitable body or bodies financially or otherwis¢.
7) To obtain, coll¢ct and receive monies and fi￿d$ by way of colltiibution4 donations, aff￿1￿10n f¢¢s, S￿b8¢riptiOnS,
legacies, gTADts and any other lawful method, and accept and rec¢iv¢ gifis of property of any d¢s¢ription (whether
subject to any special trusts or not).
8) To pro¢ure and provide Inforn￿ti0n.
9) To procure io be written and prinl, publish. issue and circulat¢ gratuitously or otherwise any reports or perlodicals,
books, pamphl¢ts. leaflets or other do¢uments.
10) To promote, encourage or undertake experimentsl work.
I l) To do all such other law￿1 things as arc necessary for th¢ attatnmcnt of the objects.
Page I

NORTH WALES SOCIETY FOR THE BLIND
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
OBJECTIVES AND ACTIVITIES
Signific4nt Adlviti
Thc North Wal¢s Swi¢ty for the Blind suptrt)rts sigbt impaired and severely sight impaired individuals of all ages. We
work collaboratively to promot¢ ind¢p¢nd¢Thc¢, ¢hoic¢, and c(TrDfidence-while delivering the essential setvices o
members tell us matter most.
Amon85t its many SerVi￿S the SLKiety provides-
Resource alld Inforn)ation Centr¢
Located at 325 High Strc¢L B8ngoT, our Resou￿¢ Centr¢ is open Mondhy to Friday, IOam4pm. It s¢rve$ as thc heart of
the Society4)ffering expert advice. practical d¢monstrations, and acces5 to a wid¢ rdngc of ¢quipm¢ni from magnifiers
to rnobxle phones. knowledgeable stsff and volunteers are always on hand to assist.
Rehabilitation Service
Our Rehabilitation Officers provide tsilored support to belp individuals develop skills that eEthanee safety,
independence, and ¢onfid¢n¢e. Servi¢¢s inelllde comprehensive assessments-either at horne or in th¢ R¢souree
Centre-and trdintng in mobility and daily living skills.
Gwrando Recordin Stt3dio
Our in.hous¢ stydio prtKluccd 24 Dew unabridged talking books this year, now available in liknTi¢S a¢ross
Wal¢8-bringing lit¢rature to life for those with sigbt loss.
Communtt En
ment
We actively engag¢ with individuab and groups to ensure our seAvA¢es remain responsiv¢ a]Ml ￿leVant. F¢￿back from
members directly shap¢s our wiorities and delivery.
InfoTll)atiou T¢thnolo
We off¢T trait]ill8, assessments, and demonstralions of $p¢¢ialist softwate atsd assistive technologic￿mpoWerillg
Tn¢mb¢rs to stay ¢onnected and independent.
Grants S¢rYi¢¢
We coordinate gT4D¢ applic4tioDS b¢half of individuals with sight loss, hclping 8¢cure financial support foT essential
items al￿ 8erviceg.
Mental Health Su
We provide on¢-tO-on¢ counselling and emotional support, recognising thc importance of mental wellbeing alongside
practical assi5tan¢e.
Publie benefit
Th¢ twst¢¢s have paid due regard to the Charity Commission's guid￿¢¢ on public benefit in deciding th¢ activities
undvtaken by the North Wales Soeiety for the Blind during tho y¢ar. The trnstees are satisfied that the infoDnation
provided in the report and accout]ts mcets the public benefit r¢porting r¢quirements.
Page 2

NORTH WALES SOCIETY FOR THE BLIND
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
ACHIEVEMENTS AND PERbORMANCE
Ch4rlt4ble a¢tivitles
our aftivitii¥ dellver publk benellt
Continuing Our MÉssion 2024
In 2024125. the charity remained steadfast in its comrniim¢nt to supporting blind and partially sighted people ￿rosS
North Wales. Our core s¢ryices included:
l. Rehabilitation S¢tvica conmnissioned by Gwynedd attd Angles¢y local authoTiti¢s
2. Bangor Resourc¢ Qntre. offering inforniation, equiprnent, and support
3. Audio Book and Newspaper Service from our dedi¢a¢ed Bangor S￿di0
4. Community Services, illcludiDg social and activity groups
5. Technology Support, trainin& and advice for accessible digital inclusion
in 2024. we=
- Provided direct support to 1,800 individuals, including children and adults livin8 with sight loss
- Supported 112 ¢bildren alld their families with tailored advicc and practical help
- W¢lcom¢d hundreds of visitors to our Bangor Resource Centre
- Ckrried out ovcr 500 home visits through out rehabilitation tcam
- tkIivcr￿ awareness training io mor¢ than 250 professionals and community mnnb¢rs
- Offcrcd technology support to ov¢r 170 people. helping them stay wJJn¢ct¢d and independent
- Produ¢¢d 24 new audio books,
- Facilitsted a wide rangc of social groupB and community ¢venw helping reduce isolation and build confidence
Stren8thcning Our VoiG
- Updated all onlin¢ and social media advertising, enabling us to rtach more pcople fast¢r than ever before
- Expanded th¢ s¢op¢ of our advertisillg al￿ promotional work to better demothStrat¢ our reach and impact
- EMb￿d¢d a syst¢m of quality ouicome tncasurement across all seryices
- Began the PTocess of recrnitin8 n¢w Directors to strengthen our Bo8rd of Tjvstces
Weleom¢d An¢st J¢ffery to the RehabiliÈati¢)n t¢gm folltswing her sueccssfi]I compl¢tiort of the rchabilitation sMdi
course
- Restructured and moden)ised the Ban8or li¢sour¢e Centre
- Converted an existing outhuilding into a new m¢¢ting r￿￿. enbancing our fa¢iliti¢s for staff, volunteers. and service
In 2024, we welcomed a Communications Officer to the team, dedicated to showcosing the charity's impact and
amplifying the voices of thos¢ we support. We also r¢fr¢sh¢d our online presen￿ and social media advertising,
cnabling w to r￿Ch more peopl¢-fast¢r and more effectiv¢ty than cver before.
FINANCIAL REVIEW
FlnanciAI position
The aCcO￿ts show a deficit after pension atharial gainsl(losses} of £5,086 (2024- £670.464}.
Total rcsouwes exp¢nded increascd by £41,835 (9.1 /.) to £499,997 {2024- £458,162).
The ¢harity operates a Defin¢d Benefits Pctjsion S¢h¢rn¢. Und¢r regulations introduced by the Financial Reporting
StsndaTds (FRS 102) th¢ Society is rquired lo identify its asset or liability as calculated by th¢ A¢tuaries for the
scbeme. The actuaries have identified a&8ds of £1,287,000 as at 31 March 2025 (2024 £857,000).
Ill accordance with FRS 102 Section 28. the rccognition of a pension ass¢t IS Testricted to th¢ ¢xlent that an econoAni¢
benefii is availabl¢. As no such bencfii was available. the asset has be¢n r¢stricted to nil.
PrlTh¢lp41 fundlng sour¢¢8
Core funding is providcd by the Islc of Angles¢y County Council and Gw¢dd Council.
Pag¢ 3

NORTH WALES SOCIETY FOR THE BLIND
REPORT OF THE TRUSTEES
FOR THE YEAR ETr4DED 31 MARCH 2025
FINANCIAL REVIEW
Investment policy YlDd objectives
In a￿OrdanCe wilh the charity's constitution, the Trusttts bave the power to invest in such stocks, shares and
investments as they see fil. The TNstees have appointed Canaccord Genuity (previously Hargreave Hale) to manage the
investments, amounting to £2.062,3818s at 31 Marcb 2025 (2024 - £2,117,372). Th¢ inv¢sttn¢nt appr(>a¢h. whilst low
risk, is d¢S1￿¢d io 8¢hi¢ve a balance b¢nv¢¢n incom¢ and ¢apithl gromtth.
Reserves polky
The r¢s¢rv¢s are h¢ld to ¢nabl¢ the ¢hority to meet its charitable and legal obligations to its beneficiaries and employees.
Sp¢Cir￿allY th¢ purpos¢ of its re5¢rves is to:
-Enabl¢ th¢ Trust¢¢$ to manag¢ the f￿at￿l21 risks involved in providing the agreed S￿1¢¢$ alld a¢tiYiti¢s.
-Enable the Tru5tces to provide for the development of new services.
-Enable the Tru5ttt5 to meet any shortfall between voluTJtary income and the cost of activities wholty, or partialty,
dependent on volw)tary fijnds.
The reserves policy seeks to balance spettding the maximum amount of income raised as sthin as possible after receipt
with maitttaining the mtnimum level of resenpes to ensure uninterrupted operation atml provide time to adjust to a
change in fitwicial circumstances.
A prudent assessment of the financial impact of risk events on reserves is assessed as striking an appropriale balance
between the need to spend income when it is received and maintaining operational integrity-
This level of reserves is eollsis*nt with Cymdeithas Deillion Gogledd Cymtu's business model alld fllwici81 impact of
key Tisks
- Diieetors bave ideniified the need to maintain a level of free reserves equal to 20- 24 months of expenditure.
- DIT￿10[8 identify the need to r¢du¢¢ th¢ ov¢rall l¢v¢l of r¢s¢rv¢s ov¢r tb¢ n¢xt fiv¢ y¢ars
2024-26 Busin¢ss plan WAII set out a number of new projecis to be thllded in part / or wholly through DesigDaknl
reserve fullds.
There ar¢ no substantial material projeets or capital spending plans that cannot be met from anticipated i￿1)m¢ or
reserves in th¢ short- medium terni.
All programme$ fi￿ded from unrestricted monies include the Clause'subject to fimdit)
All expenditure levels can be materially adjusted within a 6-month period to fit revised funding leve]s if needed.
At 31 MaTch 2025 th¢ charity had frK reserv¢s (g¢nernl thds exeluding designated fiJn&s) of £2,152,098 (2024
£2,148.321). This amounts to approximately 51 months of cxpcndibjre (2024 approximately 50 months expenditt￿¢).
Page 4

NORTH WALES SOCIETY FOR THE BLIND
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
FtrruRE PLAP4S
During 2025126 th¢ Charity plan5 to strengthen the bond between its m¢mb¢T$ and thc charity, to encourage the
development of a more r¢$ili¢nt organisation better able to serve the needs of its beneficiari¢6 and whi¢h has a better
UDd¢rstanding of what ]natters to its members.
Underlying Priorities-
STRATEGIC OBJEcfivES
Objectiv¢ l.. To coDtIDiie to ensLwe the fijttlle fuwi¢ial r¢silieDce of the North Wales Society of the Blind.
Objective 2.. Create a great¢r s¢ns¢ of ¢oll]munity by offering regular contact 3Dd consultatiorL.
Objective 3.. Focus on d¢liv¢rin8 th¢ s¢rvi¢es that matter.
Objective 4.. En$ur¢ tim¢ly infom]aÈion, advice and support for childr¢n, adults and families livtng with sight los$.
Obj¢¢tiv¢ 5.. Ensuring the sustsinability of quality supportiv¢ scrvices foT peoplc with sight los$.
Objective 6= EDsur¢ lim¢ly. effeclive and best quality Rebabilitation scryices in collaboration aThl in partn¢r5hip with
local authoriti￿.
Objective 7". Invest in our staff and volunteers to provide and maintain a range of supportive services.
Objectiv¢ S-. Work in partnetsbip with oth¢r statutory. charitable and vtsluntary 170di¢s to promole the AsS￿l8tion'S
objectives to provide a wide range of supportive servi¢es for p¢opl¢ wi¢h sight loss.
During 202512026 tbe Society will-
Develop a new busilless plaj) for 2026-2029
- Increase the scope of our advertising and prO￿otion to d¢moDstrate the value and tea¢h of our work
- Evaluate the impact and reach of all tsf our servi¢¢5
- Continue to providc new and innovative 5ervi¢¢s to Support children and their families
- Devclop a ncw fundraising strategy
- Aim to recrjit ncw D1￿CtorS to thc iM)ard of Trusltts
SIRUCTURE, GOVERNANCE AfqD MANAGEMENT
Govertting document
The charity is b company limited by guarantce and a registor¢d charity governed by its M¢morandum and Articles of
Association. As at 31 March 2025 therc were 4 members. Th¢ liability of each member in th¢ ¢v¢n¢ of the company
being wound up is restricted to £1.
Recrnitment *nd &ppoin¢mellt of new trllstees
The business of th¢ charity is managed by a Board of Trustccs. Directots responsibilities are defined ullder th¢ Director
Reernitment Policy.
Direciors may be nominated to the Board during by resolution upon succcssful completion of the director r￿ruitment
process.
The number of trustees is d¢t¢rniined by the charity in Gcneral Mecting. but unless and until so fixed there is no
aximum or minimum numb¢T.
Membership of the Board of Trustees will, as acwrat¢ly as possible, teflect the ￿￿bershiP and obje¢ts of thc charity
as is ¢wrent at the time.
OrgAni$ati&nal stTll¢ture
Th¢ Board of Trnstees rn￿t8 as required, typieally on a monthly basis. The B￿rd can norninate sub-¢ommittees to
Dsidcr issues arising.
The stsffll￿ andlor other su1￿￿mMIttee9 meet ort an ad-hoc basis when th¢ n¢¢d arises.
Pag¢ 5

NORTH WALES SOCIETY FOR THE BLIND
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
Ittduetion #nd tr#iniDg ofn¢w trustees
Prospective nominees to the Board r￿¢1v¢ an indu¢tion which includes an outline of the charity's activities and
objectives, togethtt with inforn￿tIOn from th¢ ChaTity Commission website detailing the role and responstrjilities of
Trustees.
From tim¢ to time, members of the ¢harity provide tratning on various aspects of the work undertaken aDd poli¢i¢$ aThd
procedures are reviewed by the Board of Tmstees as means of familiarisation.
REFERENCE AND ADMINISTRATIVE DETAILS
Registtred Company Dumber
07693820 (Ettgland and Wale5)
Registered ChArity number
1143368
Regislered office
325 High Street
Bangor
Gsvynedd
LL57 IYB
Trustees
A R Hitiehliff
J Roberts
M Roberts
P J Evison (resigned 6.724)
Edw8rds
Independent Ex#mlN¢r
Owain Ap Elfed FCCA
Williams Denknn Cyf
Chartered Certified Aecoulltallts
Glaslyn
Ffordd y Parc
Parc Metvai
Bangor
edd
LL57 4FE
Kry M#tsxgetDent Per$41n￿¢1
Mr S Tho￿a5 IChi¢f Ex¢cutiv¢)
Mr D Eckley (Senior Rehab Officer)
Bankers
HSBC BaDk PIC
Approved by order of the board of t￿￿t¢¢5 on....
attd sigtxed on its behalf by:
A R Hin¢hliff- Trustr¢
Pag¢ 6

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
NORTH WALES SOCIETY FOR THE BLIND
Independent examiner's report ¢0 the tru5tee5 of f4orth Wales Society for the Blind ('the CompaDy')
I r¢port to the charity I￿ste¢S on my examination of th¢ 2¢¢ounts of the Company for the year ended 31 Mar¢b 2025.
Responsibilities and basis of report
As the charity's trustees of the Company (al￿ also its directOFS for the purp05¢5 of compally law} you are responsible for
th¢ preparation of the accounts in accordance with tbe requirements of the Compatiies Act 2006 Obe 2006 A¢tJ.
Having satisfied mysclf that th¢ accounts of the Company ar¢ not requir¢d to bc auditcd under Part 16 of the 2006 Aet
and are eligiblc for independent examination, I r¢port in respect of my exomination of YOUT charity's accounts as carried
out undcr Scction 145 of the Chariti¢S Act 2011 Cthe 2011 Ad.). In caTrying out my cxaminaiion I have followed the
Directions given by th¢ Charity Commission under Sedion 145(5) (b) of the 2011 Act.
IndependeDt examkner's st*tem¢nt
Since your chariiy's gross in¢omc ¢xcEcd¢d £250,000 your examiner must be a member of a listed body. I can conf
that I qualified to undcrtake the examination because J am a memb¢r of th¢ Association of Chartered Ccrtified
Aceoutttants, wbich is onc of the listed bodies.
l knv¢ compl¢icd my examination. I confjrm that no matt¢r8 have come to my attcntion in eonneetion with thc
¢xaminatioll giving me (ause to believe..
accouniing r¢¢ords w¢r¢ Dot k¢p¢ in r¢sp¢cl of tbe Company as requiY¢d by S¢¢tion 386 of thc 2006 Act. or
th¢ a￿unts do noi accord wlth those ￿cOrdS,. or
tbc a￿fjunts do not comply with the a¢¢ounting requirements of Section 396 of th¢ 21)06 A¢t othcT than any
requirern￿t that the accounts give a tru¢ and foir view which is not a matter consid¢r¢d as part of an
illd¢p¢nd¢Tht examination: or
the ac¢ounts haye llot been pr¢par¢d in a¢wrdan¢e with the m¢thods and PTin¢iples of the Ststement of
Recommended Practice for a¢countill8 and reporting by cbarities {applicable to Charities pr¢paring their
accounts in ac¢ordan¢¢ with the Finats¢ial Reporting Standard appliGabl¢ in thc UK and R¢public of Ireland
(FRS 102)).
I have no concerns and h&ve come across no other matters ID CODncction with th¢ ¢xamination to which attention should
b¢ drawn in this report in order to ¢nabl¢ a proper understaDdiDg of the a￿oUnts to b¢ reached.
Owain Ap Elfed FCCA
Williams Denton Cyf
Chart¢rcd Certified Accountants
Glaslyn
Ffordd y P￿¢
PaTC M¢llai
Bangor
Gwynedd
LL57 4FE
Date=.....
Page 7

NORTH WALES SOCIETY FOR THE BLIND
STATEMENT OF FINAIYCJAL AcfIviTIES
FOR THE YEAR ENDED 31 MARCH 21125
2025
Total
funds
2024
Total
Unrcstrict¢d
funds
Restricted
r¢statcd
Notes
INCOME AND ENDOWMENTS FROM
Donations and legaci
28&923
288,923
19,289
Cb*rlthble aettvltlej
Grants and Contrdcts
Audio Serrice
BangoT Resources Centre
Rehabililalion Service
50
42297
15363
1,795
2J95
42297
15,263
132215
3,017
25,734
19.845
129.251
132,215
Other trading activities
Investment income
9J49
61.793
9J49
11,801
65,949
To¢41
418,125
134OAO
552,135
274,886
EXPENDITURE ON
Raising futtds
S613
lJ46
6959
12.167
ChArltable *¢tlvhle8
Audio Service
Bangor Resources Centre
Rehabililation Service
CoUn￿lI]ng
56,9115
268,875
6,000
50,905
271J36
164,897
55.596
233,525
155,388
2J61
158097
Total
337
162 OTr4
499
458 162
N¢t gainsl{logses) on investments
17 224)
17224
109,812
NET INCOMEI(EXPENDITURE)
Tr8D$f¢rs b¢tw¢eD funds
Other rwognlsed gaiDsIOo$$es)
A¢ftwial gainsl(losses) on defined b¢nefil
sehemes
63aO8
(28,490)
(28,594)
24490
J4?14
{73,464)
20
40.000
40.IIIMI)
{597,000)
N¢t mov¢ment kn fund$
(4,982)
(104)
15,080
1670,464)
RECONCILIATION OF FUM)S
Total fi￿d$ brougbt fonvard
2293,693
22W8
2JIA541
2,987,005
TOTAL FUNDS CARRIED FORWARD
2J88,711
IIA55
2 316 541
The notes forni part of these financial ststements
Page 8

NORTH WALKS SOCIETY FOR THE BLIND
BAL4NCE SHEET
31 MARCH 2025
2025
Tot41
funds
2024
Totsl
funds
as restated
Unrestsict¢d
fimds
Restri¢t¢d
fuDds
Notes
FLXED ASSETS
T#ngible assets
Inv¢stm¢nts
15
16
119,875
2,1162,381
119875
2 O62J81
123,IIK)
2.117.372
2,182.256
2,182256
2240,472
CURRENT ASSETS
Stocks
Dcbtors
Cash at bank and in band
17
18
38,285
2,429
811.641
38,285
2,429
109N6
36,824
2,232
56,512
29305
121,35S
29,21)5
150,5611
95,568
CREDITORS
Amounts falling due within onc year
19
(14,900)
(6.461)
(21 J61)
(19,499)
NET CURRENT ASSETS
106 455
22,744
129,199
76.069
TOTAL ASSETS LESS CURRENT
LIABILITIES
2,281711
22,744
2,311,455
2.316,541
NET ASSETS
2 316 541
FUNDS
Uttrestrieted funds
Rcstricted fvttds
20
2,28&711
22,744
2.293.693
22,848
TOTAL FUNDS
11,455
2,316,541
Th¢ charitabl¢ company is entitled to exemptiou from audit UDder Section 477 of the Companies Act 2006 for thc year
cnd¢d 31 Marcb 2025.
The m¢mb¢rs have not re¢wired the company to obtain an audit of its f]Thwial statements for the year ¢lld
31 March 2025 in accordance with Section 476 of the Cowi¢s Act 2006.
Th¢ trnstses aeknowl¢dg¢ their tesponsibilities for
(a)
ensuring that the charitsblo company kecps aceounting records that comply with Sections 386 and 387 of the
Companies Act 2006 and
preparing fJnaThcial statem¢nts wthich give a true and fair view of th¢ stat¢ of affairs of thc charitable company as
at the end of each financial ycar and of its surplus or d¢fi¢it for each financial year in accordan¢¢ with the
requirements of Sections 394 and 395 and wbich otherwis¢ Comply with the requiremellts of th¢ Companies Act
2006 relating to financial Statements, so far as applieable to tho Charitable company.
(b)
The not¢$ fomi part of these fiwdncial stat¢ments
Pag¢ 9
ontinucd...

NORTH WALKS SOCIETY FOR THE BLIND
BALANCE SHEET- Tontinued
31 MARCH 2025
Th¢se fJnan¢ial statements have been prepared in accordanc¢ with th¢ provisions applicabl¢ to chari¢able companies
subject to the small companies regime.
The financial statements were approved by th¢ Board of Trust¢¢s and authori5ed for issue on
7p../. * l.1..￿........ were sign¢d on its bebalf by..
Hinchliff - Ttustec,,
berts- Truste
The notes forni part of these financial statements
Pag¢ 10

NORTH WALES SOCIETY FOR THE BLIND
CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025
2025
2024
a5 r¢slat¢d
Notes
C4sh flows from opern¢itiE *Ctivitles
Cash generated from operatlODS
Interest paid
{26,827)
18.5991
(248,560)
17.887
Net cash used in operating activiti¢s
266.447)
Cash flows from Investlng activitiei
Purehase of tangible fixd ass¢ts
Purchas¢ of fixcd assct invcstments
Sale of fixed a￿et invcstments
Interest received
(799)
(275246)
313,1112
(438.207)
577,921
Net cash pn)vided by iDV¢$tiDg activitics
Change cash and equfvalellts In
the reporting period
C&sh and cash equivalents al tht
beginning of tbe reportlng period
53J34
(60,784}
117,296
C*sb and cash equivalents #t the end of
tbe reporting perl•d
The notes forni part of these fitjancial statem¢Dts
Pagell

NORTH WALES SOCIETY FOR THE BLIND
NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025
RECOIYCILIATION OF NET IT4COMEI(EXPEIYDITURE) TO NET CASH FLOW FROM
OPERATING ACTIVITIES
21)25
2024
as restated
IY¢t iDcomel(expeDditur¢) for the reporting periDd {*$ per the
Statement of FIDanelal A¢tlvltles)
Adjustments for:
DepTeciation charges
Losse51(gain) on investments
Interest rec¢ived
Interest paid
Increase in stocks
{Intreaseydecrease in debtors
Increasel(deerease} in creditors
Diffcr¢DC¢ b¢t￿¢n p¢nsitsn Charg¢ alld eash ¢ontributions
34,914
(73.464)
4,025
J7,224
(61,793)
18,599
(1,461)
(197)
1,862
3,968
(109,812)
(65,949}
17,887
{3.383)
2,436
(1243)
19.000)
Net used in operations
248 560)
ANALYSIS OF CHANGES IN NET FUNDS
At 1.4.24
Cash flow
At 31.3.25
N¢t ¢%sh
Cash at bank and in hand
IIYJ,846
53
34 109 846
Total
56.512
53,334
The notes forni part of these financial statements
Pag¢ 12

NORTH WALES SOCIETY FOR THE BLIND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 L¥IARCH 21125
ACCOUNTING POLICIES
Basi5 Df preparing the fmaDf141 $tatemen¢s and assusment of golng concern
The f]nancial statements of the ¢haritable Company, which is a public benefit entity under FRS 102. have been
prepared accoIdance with tb¢ Chariti¢5 SORP IFRS 102) 'A￿oUnting and Reportlng by Charities.. Statemeni
of Recommended Practice applicable to chariti¢s pr¢paring th¢ir accounts in accordance with the Financial
R¢porting Stat￿ard applicable in the UK and Republi¢ of Ir¢land IFRS 102) (effective l January 2015),,
Financial Reporting SL￿dard 102 'The Financial Reporttng Stsndard applicabl¢ in th¢ UK and Republi¢ of
Ireland, and the Compathi¢s Aci 2006.
The aceounts {financial stat¢m¢nts) have been prepared under the historical cost wnvention with the exceptio
of imicstments which ar¢ includ¢d at marf(ei value, as modified by th¢ rwaluation of certain assets.
The charity ¢onstitut¢s a public benefit entity as defined by FRS 102.
The trustccs consid¢r that there aJe no It￿￿rial uncertainties about the charity's ablliry to ¢ontinu¢ as a going
conccrn.
ID¢ome
All incomc is reco8Dis¢d in th¢ Statement of Financial Activities On￿ the ¢haiity has entitlement to th¢ fi￿d$, it
is probable tbai thc in¢ome will bc reeeived the amount can b¢ measured reliably.
Legaey gifts are r￿QgniSed on a case by ease basis following the granting of probate wh¢n the
adminÈstratorlexecutOT for ihe estate bas comrnunicated in writing l>oth the amount and settlement
E4)¢Ddlture
Liabilities are recognised a5 ¢xpenditurc as soon as there is a legal or conslructiye obligation ¢ommitting the
harity to thAt eXpe￿ditI￿e. it is probabl¢ that o transfer of tconomic b¢n¢fits will be required in s¢ttlwn¢nt and
the amount of the obligation can be rncasured reliably. ExpeTbditurc is awollnt¢d for on An accruals basis and h&s
been elassified w)dcr headings that aggregat¢ all cost rclatrd to th¢ cat¢gory. Whcre costs Canllot be directly
attributed to partiwlar headings they have bcen allocat¢d to activitics on a basis cotssi$t¢nt with the use of
50UTC¢S.
GraDts off¢red subject to condit10115 which have not been met ai th¢ year end date are not¢d as a commitment but
ot accrued as expelldltt￿¢.
Allocation and apportionment of ¢o$ts
Certain exp¢nditure is directty atlributabl¢ to specific actimtics and has bcen imeludcd in thos¢ cost caiegories.
Certain other costs, which are attributabl¢ lo more than one activity, ar¢ apportion￿ a¢ros$ ¢ost categories on
the basis of an Ntimate of the proportlon of time spent by sthff on those ¥tivities or e5tim&ted llsag¢.
T*ngible fixed assets
Tangible fjxed 2ss¢ts for us¢ by the c]wity are stsied at cost or iu ¢as¢s wbere fLxed assets havo been dojjatcd ai
valuaiion at thc time of acqutsition, les5 depIeciation. The Cost of minor additions or those costing less than
£500 arc not eapitsliscd.
Dq)reetatioTh has been provided at the following rates in order to write down the cost (Trr valuation less estAn]at¢d
residual value, of all tan&￿ble fixed assets by ¢qual ar￿U&l Anstalrn¢nls over their ¢XP¢¢¢ed usefvl lives.. -
Frechold Buildings- 20/• on eost
FixthJr¢s and Fittings- 25 % on reducing balance
Motor Vehicles- 25/0 on rcducing balance.
Fized asset Invutments
Illvestrn¢nt$ are a fonn of basic financial instrument and ar¢ initially re¢ogtilS￿ ai their transaction
Page 13
contillu￿L..

NORTH WALES SOCIETY FOR THE BLIND
NOTES TO THE FIP4AI¥CIAL STATEMENTS- eontlnued
FOR THE YEAR ENDED 31 MARCH 2025
ACCOUNTING POLICIES- continued
Tangibl¢ r]I￿ *Jsets
valu¢ and subs¢qu¢ntly rn¢&5ur¢d at th¢ir fair value as at the balance sheet date using the closing
quoted market pnce. The statement of financial a¢tAvities includes the net gaitis and losses arisillg i)n
revaluation and disposals throughout the yeaT.
Sttst
Strtks are valued ai the lower of eost and net realisable value, after making due allowance for obsolete and slow
moving items.
Taxatlo
The charity is exempt from corporation tsx on its charitable activities.
Fund #teountlng
Unrestsicted ￿ttds can be used in accord￿Ce with the charitable Obj￿tiV￿ at the discretion of th¢ In￿¢¢3.
Restricted funds can only be used for particular restrided puTros¢s within the objects of the ¢harity.
Restrictions arise when specified by the donor or when funds are raised for particular restrict￿ pu￿)$¢5.
Further explanation of the natyre and putpos¢ of ¢8¢h fund is in¢lud¢d in tb¢ notrs to tb¢ fJnan¢ial statements.
Pension eosts and otber post-retlrement benefits
The charity operaies a funded defined benefits pensxon s¢beme based on fuydl remuneration. The assets of the
sch¢m¢ ar¢ h¢ld separat¢ly from thos¢ of the charity in an independently administcrcd fund. The staff are
memb¢rs of th¢ Gwynedd Council Pet)sion Fund. Contributions are Chargcd io the SOFA so as to spread the
cost of p¢nsions ov¢r th¢ employtts, working lives with the Bureau. Contributions are deternlined by a qualificd
actuary on th¢ basis of valuations using the projected unit method.
This sch¢m¢ is b¢ing a¢¢OUnt￿ for under FRS 102, with the atthually calculated notiotjal surplus OT deficil on
th¢ fvndiThg of th¢ scheme shosvtt in the accounts as a designated fund entitled "Pensions Reserve" which is
deducted from unTestrict¢d funds in the balan¢¢ shed.
Organlsation's status
The organisarion is a company limit￿ by guarant¢¢. In th¢ ¢v¢nt of th¢ so¢i¢ry b¢ing wound up, the liability in
respect of the guaTante¢ is limited to £1 per member of the 50ciW.
DOFIATIONS AND LEGACIES
2025
2024
as resta¢ed
Dona¢ions
L¢ga¢i¢s
&923
17,389
288.923
Page 14
continued...

NORTH WALES SOCIETY FOR THE BLIND
NOTES TO THE FINANCIAL STATEMENTS- ¢ODtinued
FOR THE YEAR ENDED 31 MARCH 2025
OTHER TIL4DING ACTIVITIES
2025
2024
as restated
Salesthresoureey itKom¢
Sal¢s-volwit¢¢rs' shop
9,137
212
11,269
532
INVESTMENf INCOME
2025
2024
as Testated
Inv¢slm¢nt income
65,949
INCOME FROM CHAIUTABLE ACTIVITIES
Unrestri¢t¢d
Restrletsd
31.3.25
31.3.24
Audio and Talking Book S￿1¢¢
Cyngor Gwynedd Coutt¢il
Cyngor Sir Ytjys Mon
Royal Society for Blind Children
Th¢ Powell Family
Cro¢sffordd I Cro&sra
Par¢ Ccnedlaethol Eryri
Access To Work
42397
42,2YI
85,608
46.607
25,734
82,644
46,607
2.517
2,795
85,608
4A607
1,795
1.795
so
500
500
17,050
15J63
15263
Totsl
58.1160
134.010
192.07
177,847
RAISIIYG FUNDS
Otber tr4diDg activities
2025
2024
as restated
Purchases
Fundraising activities
3Jll
7,504
Pagc 15
etsDtinued...

NORTH WALES SOCIETY FOR THE BLIND
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 MARCH 2025
CHAIUTABLE ACTIVITIES COSTS
Grant
funding of
a¢tiviti¢s
(see note
Support
costs {see
note 9)
DiTect
Totsls
Audio Service
Bangor Resources Centre
R¢habilitAtion S¢Ni¢¢
56J74
204,493
531
66,233
56,905
271,236
164.897
510
425,764
510
66,764
493 038
GRANTS PAYABLE
2025
2024
as r¢statcd
Bangor Resources Ccntrc
510
300
SUPPORT COSTS
Governance
costs
Management
OtheT
TotAIs
Audio S¢rviee
Bangor R¢sourc¢s C¢ntr¢
531
57,168
531
NET INCOMFJ(EXPENDITURE)
N¢t sncomel(expeDditure) is stated after chargllW(crediting):
2O2S
2024
as reststed
Independent exami￿ation of the accounts
Depreeiation- owi)ed asscts
Independent examin¢rs' remuneralion foT other servi¢es
5.1140
4.024
2.103
5,040
3,968
Pag¢ 16
C4)ntimuc(L..

NORTH WALES SOCIETY FOR THE BLIND
NOTES TO THE FINANCtAL STATEMENTS- continued
FOR THE YEAR ENDED 31 MARCH 2025
TRUSTEES, REMUNERATION AND BENEFITS
There w¢r¢ no trustees, remuncratiom or other benefits for the y¢ar ¢ndcd 31 March 2025 Dor for the yeaT ended
31 March 2024.
Trystses. expenses
Th¢re werc no knjsttts, expenses paid for the year ended 31 Mar¢h 2025 nor for the year ended
31 March 2024.
A2.
STAFF COSTS
2025
2024
as r¢stst¢d
Wages and salaries
Social secllrity costs
Other p¢n5i¢)n costs
325,228
24,934
282,930
20,826
345 783
Th¢ average monthly Dumber of employees duTiDg the year was as follows:
2025
2024
as restated
Mana8¢r
Dir¢ct Charitsbl¢
Administration aud Support
Devdopment Otyicer
No employpKs received emoluJn¢nts in excess of £60,000.
The charity considers its key management persotm¢l ¢ornprise of the Manager and Senior R¢hab Officer. Total
¢rnoluments. including employer pension conthTrJuiions, oftbe key managem¢nt persotmcl wer¢ £123,086 (2024
£119.611).
The llumbcr of staff it) pension schem¢ during the year wa5 as follows..
3110312025
31m312024
Defin¢d B¢n¢fil Scheme
Page 17
cot)tinued...

NORTH WALES SOCIETY FOR THE BLIND
NOTES TO THE FINANCEAL STATEMENTS- etsnti￿lled
FOR THE YEAR ENDED 31 MARCH 2025
13.
COMPARATIVES FOR THE STATEMEP4T OF FINAJ¥CJAL AcfIviTIES
Unr¢$tri¢trd
fijnds
R(*TiCt¢d
nds
Totsl
funds
&$ r¢stat¢d
II¥COME AND ENDOWMENTS FROM
Donation$ atsd legaeies
19,289
19289
CharltAble Artlvltles
Grants and Contracts
Audio Setvice
Bangor Resour¢es C¢ntr¢
R¢habilitation Servic¢
3.017
25,734
17,050
3.017
25.734
19,845
129251
2.795
129,251
Other trading activities
Investment income
11,soi
11,801
142,839
274 886
EXPENDITURE ON
Raising funds
12.027
140
12,167
Charitsble *etlvltles
Audio Service
Bangor R¢sourc¢s C¢ntre
RehabililatioD Scrviee
CouDsolling
55,596
224,929
12,000
55,596
233.525
155,388
8,596
143,388
Totsl
153610
458 162
Net gains on inveslments
109,812
109812
NET INCOMEI(EXPEl+lDITURE)
TrAn$fers between funds
O¢ber reeognlsed gains1(1055es)
Actuarial gainslOos5es) oll defined benefit
schem
(51,901)
(20282)
(21.563}
20,282
(73,464)
597,000
Net movement In futhd¥
{669,183)
(1,281)
(670,464)
RECONCILIATiof4 OF FUliDS
Total fund8 brou8ht forward
2,962,876
24.129
2,987,005
TOTAL FUNDS CARIUED FORWARD
2 293 693
22.848
2316541
Page 18
continued..

NORTH WALES SOCIETY FOR THE BLIND
NOTES TO THE FINANCIAL STATEMENTS- ¢•ntinued
FOR THE YEAR ENDED 31 MARCH 2025
14.
PRIOR YEAR ADJUSTMENT
In the prior years, the dcfined benefit pension scheme surplus was iecogniscd in full. ]n a¢cordaDc¢ with FRS
102 Sedion 28, the re¢ognition of a pension a&set ts restricted to th¢ extent thai an economic benefit is ivailable.
As llo such benefit was available, the asset should have been restsicted to nil.
Th¢ effect of this adjustment has been to reduce tbe llet assets and retaiD¢d earnings as 81 31 March 2024 by
£857,000 {2023.. £578,000). The comparative figure5 have been restated accordingly.
15.
TANGIBLE FIXED ASSETS
Fixtures
Freehold
prop¢rty
Motor
vehicles
fittings
Totals
COST
At l April 2024
Additions
17(J,000
91,845
799
9924
271,769
799
At 31 March 2025
92,644
9.924
27
DEPRECL4TION
At l April 2024
Charg¢ for y¢ar
48,600
3AO(I
90,704
485
9J05
139
148.669
At 31 March 2025
152 693
NET BOOK VALUE
At 31 March 2025
li
421J
119 875
At 31 Mawh 2024
121,400
559
123.100
Freehold PToperty was revalued OTh 26 February 20I6 an independ¢nt v4luer by Mr Gareth D Thomag of Bob
Parry (Survey & Valuatioll) Ltd on the basi5 of open market value. The hi$tori¢al cost of freehold propety
illcluded abov¢ at a valuation of £170.IM)O was £32,043 (£16,013 at eost plus improvements to date).
If the freehold property had not ￿en included at valuation it would have been included under the historical cost
cottvention as follows..
21125
2024
Cost
Arxumulated Depreciati¢)n
32,043
19,802)
32,043
{9,161)
N¢1 Book Value
22.241
22,882
Page 19
continued...

NORTH WALES SOCIETY FOR THE BLIND
NOTES TO THE FINANCIAL STATETr(ENTS- ¢ontlnued
FOR THE YEAR ENDED 31 K4RCH 2025
16.
FIXED A&SET II¥VESTMEIYTS
Listed
iftvestments
MARKET VALUE
Ai l April 2024
Additions
Disposals
Revaluatiolls
2,117,372
275,246
(263378)
166959)
At 31 MaTeh 2025
2,06U81
NET BOOK VALUE
At 3 1 Mareh 2025
2.062
At 31 March 2024
2 l17372
There were no investment assets outside the UK.
17.
STOCKS
2025
2024
as resthted
StsTrcks
38,285
18. DEBTORS: AMOUP4TS FALLING DUE wrrHIN ONE YEAR
21125
2024
as restated
Other debtors
2.232
19.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
2024
as r¢#At¢d
Social security and other tsxes
Accnuls and deferred income
7,008
14.353
6,694
21
Pag¢ 20
ntinucd...

NORTH WALES SOCIETY FOR THE BLIND
NOTES TO THE FIf4ANCIAL STATEMENTS- eontlnued
FOR THE YEAR ENDED 31 MARCII 2025
20.
MOVEMEF4T IN FUNDS
Net
movement
in funds
Transfas
between
funds
At
31.3.25
At 1.4.24
Unrestrleted funds
Gcncral fund
Property Revaluation Reserve
Recording Studio
Rehab TTaining Fund
2,14&321
9&518
46.874
(2,759}
(14.607)
6.0011
(43,097)
2,152,f198
95,759
1{6117
1293,693
23J08
{28,4911)
2,288,711
Restrleted
Rebabilitstion Service
Dr Rhydian James Grant Fund
Antioch Club
CoTnmunity Engagement
The Powel Fatnily
(26,682)
2A682
3258
19,OJ7
19,590
(553)
(1,808)
449
1,8118
449
22.744
TOTAL FUNDS
2 316541
Net mov¢m¢nt in funds, included in th¢ above are as follows..
lll¢oTning
resou￿¢3
Resour¢¢$
expended
Gains and
loss¢s
Movement
in fur
U￿re#tr1¢tcd funds
General fund
Prop¢rty Revaluation Res¢rv¢
Recording S￿di0
Rehab Trailling Fund
375,827
(271.729)
{2,759)
(56.905)
(57J24)
46.874
(2.759)
114.60D
42,298
418,12S
1337,393)
(57,224)
Restrirt¢d funds
Rehabilitation Setvice
Aniioeh Club
Community Engag¢m¢nl
The Pow¢1 Family
132,215
(158.897)
{5531
(1,808)
lJ46
(26,682)
{553>
(1,808)
449
134 01
TOTAL FUNDS
552 135
499
57,224)
Pag¢21
continued...

NORTH WALES SOCIETY FOR THE BLIND
NOTES TO THE FINANCIAL STATEMENTS- eoDtinued
FOR THE YEAR ENDED 31 MARCH 21125
20.
MOVEMENT IN FUNDS- ¢DMtinued
Comp•ratlves for movement ID funds
Net
mov¢m¢nt
in ￿ndS
TraDsf¢rs
b¢tw¢¢n
funds
At
31.3.24
At 1.4.23
Unre5tri¢ted fuDdg
General fund
Property Revaluation Reserve
Recording Studio
Rehab Trdining Fw)d
2,786,983
101.277
(604,280)
(2,759)
(29.862)
12,000)
{34,382)
2,148.321
98.518
29.862
115,762)
74,616
46,854
2,962,876
(648,901)
(20.282)
2293.693
Restricted fundl
Rehabililation Service
Dr Rthydian James Grani Fund
Antioch Club
Community Engag¢m¢nt
(15,762)
15,762
3,258
20,871
3,258
19,590
{1281)
4,520)
4,520
24,129
121.5631
20,282
22,848
TOTAL FUNDS
2.987.005
670,464)
2,316,541
CompArAtiv¢ n¢t movement in thnd4 included in the above are as follows:
Incoming
resources
Resourceg
expended
Gains and
losses
Movement
in funds
Utyreitrlcted fund$
General fund
Propety Revaluation Reserv¢
Recording Studio
Rehab Training Fund
117.104
(234.196)
{2,759)
{55.5971
{487.188)
{604.280)
(2,759)
(29.862)
25,735
142,839
(304.552)
(487,188)
(648,901)
Restricted fund$
Rehabilitation Seryi
Antioch Club
Community Engagement
The Powel Family
129252
1145,014)
(1.281)
(4,520)
{l5,762)
(1,281)
(4,520)
153610
21.5631
TOTAL FUNDS
274 886
458.162
487.1881
670.464
se Df restri¢t¢d fund$
Rebabilitstion Service
Working ulld¢r ¢ontrd¢t wRtb local authoTities to ¢Dable them to provide a rehabilitatiot) seryice for sight
impair¢d and 8¢v¢r¢ly sight impair¢d indiv1th￿l$.
Page 22
continued...

NORTH WALES SOCIETY FOR THE BLIND
NOTES TO THE FINANCIAL STATEMENTS- ¢otttinued
FOR THE YEAR ENDED 31 MARCH 2025
20.
MOVEMENT IN FUNDS- contiDued
Dr Rh dian James Grant Fund
Th¢ purpose of this fijnd is to provide equipmettt and training aTLd fu￿1CLaI assistanv to allow blind and
p3rti8lly sightcd people fair and equal access to educatiott and training.
Antioeh Club
Foi th¢ b¢n¢fit of North Wales Society's Social Club in Colwyn Bay.
Communii En a ¢ment
The purposc of this fund is..
l. To cstablish and run sociavcommunity steering group5 in Abergele
2. To provide inforniation te¢hnolobry le5sonsldemonstrdtious in and around Abergele
3. To provid¢ Community demonstration days and rnini open days in and around Ab¢rgel¢
The Powell Famil
Grant received foT thc puwhase of sp¢¢ialist equipmeDt.
Pur
se of dest n*ted funds
Pro
R¢valuation Resthve
The PULpose of this fithd 1$ to r¢¢ord the revaluation of the fre¢hold propcrty and sub5¢qucnt depreciation of th¢
revAIu8tiolls.
Recordin Studio
Th¢ recording studio produc¢s, r¢cords and distn￿uteS accessible infomiatloD and books for pcople with sight
loss. Each year the studio prod￿¢5 24 new audio books, r¢¢ords numerous Welsh language lo¢al n¢wspapers
and produces aeces$ible recordings of commercial work. Thc primary objLxiive of the stt]dio i$ to ¢n6ur¢ the
8vailab]lity of Welsh language sudio books and newspapers for tb¢ bcnefit of people with sight 10&8 and people
who ar¢ unable to read print in th¢ ordinary way.
Rehab Trainin
Fund
The purpose of the fund is to train ttvo new Rehabilitation Officers by the ¢nd of 2025.
21.
EMPLOVKE BENEFIT OBLIGATIONS
Thc charity opcrates a funded d¢fin¢d benefits ￿knerne providing benefits based on ftnal remuneration. The
assets of th¢ schcmc are held 5cparately from those of the charity- TFAe staff are members of the Gwynedd
Pension Fund. Contributi¢)ns arc charged tt> the SOFA with the intention of spreading the cosi of pensions over
the remaining emploYc￿, working lives with tbe charity in accordance with the recommejthtions of the sth¢m¢
administrators.
Pension expense ￿lCUlationS and scheme valuations have been carried out (for the purpose of this report) by a
qualified independent actuary As at 31 Mareh 2025.
The report estimAt¢s that the employer ¢on1Tibutions for the year to 31 March 2025 will b¢ approxinhatety
£44,000.
Page 23
¢ontinued...

NORTH WALES SOCIETY FOR THE BLIIYD
NOTES TO THE FINAf4CIAL STATEMENTS- eontlnued
FOR THE YEAR ENDED 31 MARCH 2025
21.
EMPLOYEE BENEFIT OBLIGATIONS- continued
The ￿￿O￿lt3 r¢¢ogDised in tb¢ Balan¢¢ ShKt ar¢ &s follows..
Defmfd beDefit
pen510D pJ*n5
2025
2024
as resthted
Present value of funded obligations
Fair value of plan assets
(2,128,1)011) (2,453,(K)o)
3 310.0
IJ87,OOD
857,IM)O
Present value of llnfimdcd obligations
Surplus
Penliott asset ceiling
Net asset
1,287,0
(lJ87,00(1)
857,000
(857.000)
Th¢ 5Utplus h&s be¢n r¢stricted using asset ceiling calculations in aeeordanee with FRS 102.
The amounts re￿gnised in the Statement of Financial Activities are as follows:
DefAned benefit
pen$5on plans
2025
2024
as reststed
Currettl serviee cosi
N¢t interest from Det defined benefit
&5setlliability
Interest in￿rne on plan assets
46,0011
48,000
118,1>00
159 00
115,(KH)
5,1100
21,(K)O
Actual Tetwn on plan a&sets
Pag¢ 24
continued..

NORTH WALES SOCIETY FOR THE BLIIYD
NOTES TO THE FINANCIAL STATEMENTS- eontlnued
FOR THE YEAR Ef4DED 31 MARCH 2025
21.
EMPLOYEE BEf4EFIT OBLIGATIONS- ¢ontinued
Changes in the present valu¢ of the def]ned benefit obligation as follows..
Defined benefit
pensi•n plaDS
21J25
2024
as restat¢d
Opening defined benefit obligation
Current service cost
Contributions by scheme participants
Interest cost
B¢n¢fits paid
R¢rneagurements'.
Actuarial (gainsyloss¢s from changes in
demographic assurnptions
Actuarial (gains)Aoss¢s from changes in
financial assumptions
Obligation other remeasut¢m¢Dt
2,453.IJIM)
46.000
18,000
I l8,1100
(103.OOIJ)
2,427,OIM)
48.OIMI
16.000
115,IMM)
(86,(X)O)
{4,0110)
(15,(M)O)
(376,OlX))
(24,IKJO
{137.0￿)
85,000
2,128,00
2,453,01)0
Chang¢s in the faiT Value of schern¢ a85ets are as follows..
Defkned benefit
penslon pl*n$
21125
2024
&$ r¢stat¢d
Opening fair value of seh¢me ass¢ts
Contributions by employer
Contributions by scheme participants
Assets interest incom¢
Benefits paid
R¢m¢asurements:
Return on plan assets {¢x¢luding interest
income)
2,453,0(10
45,00(1
18,OIMI
159,000
(103,000)
3,005,0(M)
40,000
16,000
142,000
(86,000)
{i{000)
193,000
3,41S 000
3,310,0
Page 25
continued...

NORTH WALFS SOCIETY FOR THE BLIND
r40TES TO THE FINANCIAL STATEMENTS- ¢ontinued
FOR THE YEAR ENDED 31 MARCH 2025
21.
EMPLOYEE BENEFIT OBLIGATIONS- continued
Th¢ amounts recogmised in other recognised gains and losses are as follows..
DefJn¢d benefit
pen$itsn pl*tts
2025
2024
as rcstatcd
Actuarial (gainsylosses from changes iti
demographic #ssumptions
Actuarial (gain5yloss¢s from ¢hJng¢B in
fitwhcial assumpiions
Obligaiion other remeasuremet]t
Return on plan assets (excluding Interest
illtomel
15,0
376.(
24,000
137,OlX)
(85,000)
(14,000)
193,0
390,1)00
260,000
Th¢ major cat¢gori¢s of s¢h¢m¢ asscts as a ￿¢¢nIag¢ of total sch￿¢ as5¢ts ar¢ as follows:
Defined benefit
pen$Son plAII$
21125
2024
as r¢stat
Equiti¢S
Bonds
Propety
7Y.
21•/•
iooo/.
10(P/o
PTiD¢ipal a¢tuarial 255umptions at th¢ Balance Shcet date (expressed as weighted averdges)..
2025
2024
as restst¢d
Dis¢oullt rate
Future salary increases
Future pension increases
3.25•1•
2.75•/•
Other *ssumptfions used for the valuatlon were:
Mort*lity
Life expectancy 15 based on ihe Fund's Vitacurves with improvemeDts in line with the CMI 2022 modeL with a
25Q/o w¢ighting of 2022 data, a 00/0 weightiThg of 2021 (and 2020) da￿ stalldard smoothing {Sk7). initial
adjustment of 0.25010 and a long term Tate of improyement of1.50/• p.a.for both males and f¢males.
Bas￿ thrJe assumptions, th¢ average future lrfe expectsllcies at age 65 are 5ummarised below..
Males
Fem4les
20.9 years
23.0 years
21A years
25.4 ycar5
Current Pensioners
Pensiotttrs
*Figures a￿UMe members ag￿ 45 as At ihe last fornial valuation date.
Page 26
continued...

NORTH WALES SOCIETY FOR THE BLIND
NOTES TO THE FINANCIAL STATEMENTS- ¢tyntknued
FOR THE YEAR ENDED 31 MARCH 2025
21.
EMPLOYEE BENEFIT OBLIGATIONS- ¢ODtlnued
Histori¢ Mortality
Life expectan¢i¢s for the prior period eThJ ar¢ bas¢d on the Fund's Vitacurves. The allowall¢¢ for futl
improvements shown b¢low.
Current P¢nsioDers
Futu￿ P¢nsion¢rs
CMI 2021 model Ivith a IO•/o
CMI 2021 Jnodel, with a I￿10
weightlng of 2021 {and 2020)
weighting of 2021 (￿d 2020) da
data, Standard smootbing (Sk7), standatd slnoothing ISk7), initial
Initial adjustment of 0.25•/• and * #djustm¢Dt of 025•/0 and a long
long term rate ofimprovement of krm rate of improvement of 1.5 /0
J.S•/o P.
Ctytnmutation
An allow8nee is in¢lud¢d for retirement5 to ele¢t to take 650/0 of the maximum athjitional tax-frtt cash up
to HMRC limits.
22.
RELATED PARTY DISCLOSURES
Tbere were no r¢la¢ed paty transactions for th¢ year ended 31 March 2025.
TAXATJON
As a charity, North Wales gociety for tb¢ Blilld. 15 exempt from t&x on income and gains to tbe extent that thes¢
ar¢ applied to its charitabl¢ obj'ects. No tax charges hav¢ arisen in the period.
Pag¢ 27

Luilliamsdenton
Accountants and Tax Advisors
CyfriWr ac Ymgynghotwyr Treth
Glaslyn, Ffordd Y Pa￿. Parc Menai
Bangor, Gwynedd, LL57 4FE
t.. 01248 670370
bango¥@williamsdenton.co.uk
San Remo, 13 Trinity Squar&,
Llandudno. Conwy, LL30 2RB
1.. 01492 877478
1landudno@williamsdenton.co.uk
wwi.wlliamsdenton.co.uk