Company registration number.. 7879355 Charity registralion number. 1145818 Sight Advice South Lakes (A company limid by guaranlee) Ajmual Report atKI Financial Ststemenis for the Year Ended 3 L March 2024 Stables Thornp50n & Briscoe Lid Chartered Accountants & Business Advisors Lo1her House Loivther Street Kendal LA9 4DX
Slght Advice Soutb Lakes Contents Ref¢ll¢¢ and Administrative Details 2to6 Independent Examinevs Report Statsment of Financial Activities 8t09 BaIan¢¢ Sheet 10 Notes to the Financial Slatements llto29
Sight Advice South Lakes Reference and Administrative Detalls Tru$tees L M Baverstock P Blackbum J M Hodkinson Dr S Riding J McLeod Senior Management l Loadership Mrs ParK Chief Executive Officer Team Charity Registratlon Number 1145818 Company Registration Number 7879355 The charity is in¢ory)orated in England and Wales. Bradbury Centre 116 Highgate Kendal Cumbria LA9 4HE Regi$tered Ol¢C Independent Examlner Siablcs Thompson & Briscoe Ltd Chartered Accountants & Business Advisors LOtr House Lo1ber Street Kendal LA9 4DX Page I
Sight Advlce South Lakes Trustees, Report The trustees. who are directors for the purposes of company law, present the annual report togeiher with the fmancial sthtements of the charitable Company for the year ended 31 March 2024. Objectlves and aetlvltles ObJe¢ts and aims The company's objects as set out in its governing document are.. For the benefit of those persons who are visually impaired being those persons with an impainnent of visual function for which full iemcdiation is not possible by convenlional spectacles, Contact lenses or medical intervention and ivhich causes restriction in that person's everyday life. in particular by: a) Supporting people with visual impairnient and in particular those people ivlth a visual impairnient within the adminislrative area of that part of th¢ fornier county of Westh]orland as is now comprised iviihin the area of Weslmorland and Furness Coun¢il and neighbouring areas lo improv¢ th¢ quality oftheir lives. b) Providing infornution and support lo visually impaired pcople and their families and carers. c) Providing visually impaired peoplc with social support and activities. d) Helping visually impaired people io live independently. e) Promoting awareness of sight loss issues on behalf of visually impaired people. fj Doing all such other ¢haritabl¢ thin8S that shall further the attainm¢nt of the Objects. The Mission Sthtement: "Sighi Advice South Lakes aims to support people with visual irnpainnent to improve the qualily of their lives, together with promoling greater awarencss of sighi issues." Sight Advice South Lakes aims: To enable visually impaired people lo live independently. To provide practical and emotional support to visually impaired people and their families and ¢ar¢rs. To enable visually impaired people lo access social support and activities. . To promot¢ aivareness of sight issues and lo campaign wiih, and on behalf of, visually impaired people. Objecdves, slralegies and activilies Key objeclivesfor s¢ryl¢eprovisioii are.. To provide infornmlion and support to visually impaired people and their carers as early as possible. To enable visually impaired people to maintain their independence whenever possible and to provide on-going support. To provide specialist Uplo-date advice about technology suitsble for visually impaird people, including the use ofcompulers. To ensurc a good quality loiv vision service is available in the South Lakes area offering full assessmenL an easy and quick referral process, short ivdiling limes and follow-up appointments. To increase the provision of infornjation in all appTopriate forn)ats. To provide activities specifically tailored for people with a visual impairn)ent, meeting others who are encountering similar ditTiculties. To raise aiyareness of the problems of visual impainnent and dual sensory loss. To promote good quality recruitment, support and training for volunteers. Page 2
Slght Advice South Lakes Trustees, Report In delivering these key obje¢tive& Sight AdCe South IAke5 has undertaken the following a¢tlvldes durlng tbe year 2023r24: • We support visually impaired people across South Lakeland. Founded in 1956, we belp people with sight10&8 build supportive relationships. improve their wellbeing and live independently. We Vrk with people as soon as possible after a diagnosis, putting in place 'whole-person' solutions. Our key activitics include: • Monthly. volunteer-facilitsted. peer support groups to help people build positive social networks. We also run regular and onevoff events open to everyone with sighi loss. including sailing and VdIking gTOUPS. * Helping people access specialist equipment and technology including lighting and magnification aids, talking watches and cooking aids, enabling them to live happier, more independent livek Individuals supported: 140 Cases of support: 405. Tech support events held: 25. Tech support gro attendance: 435 . Our Eye Clinic Liaison Officer (ECLO) is based at Westmorland General Hospital. They provide p¢ople with praclical and emotional support tsi help them understand their diagnosis and come io ternis with living with sight loss. We responded to 1634 light enquir4 271 full cases were opened and we referred 134 people for low vision assessments. Our Positive Steps courses help people experiencing a crisis come to tern with a nmv, or changed. diagnosis. Topics focis OD I) inforrnation and education aiKtrUt diffcrcnt ey¢ conditiODS" 2) help and suppon available from Sighi Advi¢< including equipmen¢ and 3) the wider worl(L including benefits advice and support from other organisation5. Sessions are nonnally held at locations throughout the districL in¢luding re homes and sheltered a¢¢omrni)dation. This year ive gave 35 young people sight loss al their families the chance io gel logcther and enjoy positive activities to promote and encourage life skill& independence and confidence. Activities include kayaking, theatre trips and climbing. Wc opened 253 Cases of support and hosted 22 Events and aclivities hosied • Folloiving the pandemic. we continue ts) provide online and face to face social Connectio8. As people found new ivay of accessing social support our online community was still in¢redibly stron& we d¢livered a total of 222 online and face to face events which were attended by 3010 people. hiblic benefi¢ The Tntstees confm that they have complied with th¢ requirements of sedion 4 of the Charities Act 2011 to have due regard io the publi¢ benefi¢ guidance publtshed by the Charity Commission for England and Wales. inanclal revleii Th¢ charity raised income in the year of £281.999 {2023 £249,777) of lCh £134.550 {2023 £170.449) was Teslricied. Total expendilure 7S £268.932 (2023 £257.315) of which £137.004 (2023 £159,316) was restricted. As a rcsult the overall movement on reserves Ivas an increase of £13,067 with a decrease of £2.454 on restricted reserves and an increase of £15.521 on uDrestri¢d reserv&s. Policy oil reserves Th¢ trustees ha developed a reserves policy that maintains 6 months normal operating costs to cover contingencies that could arise in the rning years. This approximates to £129,000. The charity had fijnds at the end of the year of £649.104. however of this £57,612 ivas $t[led. £296.120 was represented by fixed assets and £32,004 was designated to future projects. This left £263.368 as free reserves %ICh equa*s io 10 months nornial operating costs. This is higher than the reserves required by the reseryes policy, but in the current difficult climate il is not exce&siv¢. Pagc 3
Sight Advice South Lakes Trustees, Report Stru¢tur4 governance and DnageMent NaiNre ofgoverning documen/ Th¢ ¢ompany was incorporated on 12 December 2011 and is 8ovemed by the MenN)randum and Articles filed on thai date. On l April 2012 ihc ¢harity of the name (regisiered number 702612) merged with the company, which took ovcr all thc #Cliviti of the old charity. The old charity was closed on 25 July 2012 and th¢ m¢rger is registered with the Charity Commission 8$ of 1st July 2012. RecriilimeAI and appolnlment oftriislees The Articles for Sight Advice South Lakes requires that the members endcavour to ensure that at least one third of Ihe Managcm¢n( Board rn¢mbeTS are visually impaired. Each voluncr Iru5tee goes through an induction prn¢¢ which includes cligibility ¢he¢ks. a rolc description and details ofiheir responsibililies. Jndiiclion and Iraining oflrns¢ees All n•v trustees arc givcn an induciion Program which gives them the opportunity to meet with kcy s¢aff in the organisation, atiend key Charitable aciivities, given copies of Board of Tntee minutes and papers for Ihe past 6 months, a copy of the mosl recent Trustees Annual Report and Accounts, a copy of the constitulion and CC3 - The Essenlial Trus1¢¢ {Charity Cornmission). Arran8¢menlsforselling kry manAzemenlpersonn¢l remunernlion The Chief Execuiive oifi¢¢r is key managemeni pcr50nncl and the Tntrts sei remuncration with regard io NJC salary scales. IVAJor rlsks and managemenl ofihose rlsks Rk assessmenl The trustees periodically undertake a review of major risks to which the charity is exposed and also review systems and procedures to managc risks that are in place. These include a re8ular updalc and rcview of finttncial procedures and an ongoing proarnMe of training for staff in all areas rel¢vant io thcir post. Th¢ major risk lo ihe organisaiion at present is Ihat oran over reliance on grants io mainlain services. The charily is conlinuing lo develop other forn15 of income in¢ludiDg comrnunily fundraising and soci&l enl¢rpris¢. Following the purchase of 116 Highga ihe Board of Trustres recognisc that ihc bcncfits for r¢locatin8 the ¢hariiy include.. improvin8 Current services- providing more servic¢5' increasin8 ihe charily's profile ond reducing overall nmning costs. FlnAnelAI Instrnments Objectives lindpollcles Th¢ Charily's activities may expose it to a number of finala1 risks includin8 credit risk, cash flow risk and liquidity risk. The Charity do¢s not make use of financial derivatives. Casliflow rtsk The Charity's aclivilies do nol ¢xpose li the financial risks of changes in foreign currency exchange ra*s and interest rates. Ini¢rest bearing assets and liabilities are nol SiLfiCant. Page 4
Sfjght Advice South Lakes Trustees, Report Credit risk The Charity's principal financial atscts are the Property at thc Bradbury Centre, bank balances and cash, trade and other rc¢¢ivables. and investments. The Charity's credit risk is primarily attributable to its lrnde receivables. The amounts pr¢senl¢d in the balance sl*et are net of allowances for doubtfijl receivables. An allowance for impairnKnt is made where the is an identified loss event which, based on pviouS experience, is evidence of a reduction in the recoverability of the cash flows. The credit risk on liquid funds is limited bccause the counterpart1 are banks with high credit-ratin8s assigned by inlemalional cr¢dit-rdtiog agencies. The Charity has no significant concentration of credit risk. with exposure spread over a large number of ¢ounl¢rparties and customers. Liquidity risk In ord¢r to maintain liquidity to ensure that sufficient fiujds are available for ongoing op¢rations and fvture developments, the Clwity maintains a level of bank res¢rv¢s. Further details regardin8 liquidity risk can be found in the Statement of accounting policies in the fmancial statements. Statement oftrustees, responslbilllies The Iruslces (who are also the direciOTS of Si8hl Advice South Lakes for the purpose5 of company law) are responsible for preparing the In1¢¢5, report and the financial statements in accordance with appli¢able law and United Kingdom A¢¢ounting Standards (United Kingdom Generally Accepted AtunI1n8 Prdctice), including FRS 102 "The Financial Reporting Stsndard applicable in the UK and Republic of Ireland" The report and counts have been prepared in accorda¢ wilh the PD)visions in the Companies Act 2006 relating to small companies. Company law requires the tTrtees to prepare financial stalements for each financial year. Under company law the trustees must not approve the financial ststenMts unles5 they are salisfied that they 8ive a true and fair view of the stale of affairs of the charithble company and of the incoming resouTces and application of resources, tncludin8 its income and expendiiure, of the charitable company for thai period. In preparing these financial ststement4 the trustees are required to: select suitsble accountin8 policies and apply them consistently. observe ihe methods And principles in the Charities SORP: make judgements and estimates that arc reasonable and prndenL state whether applicable accountin8 Standards. comprising FRS 102 have been followe4 subject to any material departures disclosed and cxplained in Ihe financial statements; and prepare the financial slatements on the going concern basis unless it is inappropriate to presumc that the charilable company will conlinue in busine The trustees are responsible for keeping proper accounting records thai can disclose with reasonable accuracy at any time the financial sItion of the charitable company and enable them io ensure that the financial statcments comply with the Companies Act 2006. They are also responsible for safeguarding the asseis of the charitable company and hence for taking reasonable sleps for the prevention and detection of fraud and other irregularities. The Irustees are responsible for the mainl¢nan¢e and inlegrily of the corporale and financial infonnalion included on the charitsble CoMpanS website. Lw51ation 8overnin8 the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Sm&ll Companies provblon Statennt This report hos been prepared in accordance with the small ¢ompanies regime under the Companies Act 2006. Page 5
Slght Advlee South Lakes Trustees, Report Th¢ annual report approved by th¢ trust¢¢s of the charity on 12 November 2024 and si8Thed on its behalf by: Dr S Riding Trusteo Page 6
Sight Advlce South Lakes Independent Examlner's Report to the trustees of Slght Advice South Lakes ('the Company,) I report to the charity truslees on my examination of the accounts of the Company for the year ended 31 Mar¢h 2024. Rtsponslbllltles And basls of report As the chariry's trustees of th¢ Company (and also its dire¢tors foT thc putposcs of ¢ompany law) you are r¢sponsible for th¢ preparation of th¢ accounts in accordance with the requirem¢nts of the Companies Act 2006 ('Ihe 2006 Act,). Having satisfied myself that the accounts of the Company are not required to be audited 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 Acl,). In callying oui my examinalion I have folloived ihe Directions given by the Charity Commission under section 145{SXb) of the 2011 Act. Independent examlner's statement Since the Company's gross income exceeded £250,000 your ¢xaminer mus¢ be a memb¢r of 8 body listed in section 145 of the 2011 Act. I confitm that l am qualified to undertake the examination b¢cause I am a member of ICAEW. which is one of the listed bodies. I have completed my examination. I confinn that no motters have come to my altention in ¢onn¢¢tion with the examination giving me cause lo belteve, l. accounting records were not kept in respect of Sighi Advice South Lakes as required by section 386 of the 2006 Act. or 2. the accounts do nol accord ivith those records; or 3. the accounts do not ¢omply with the accounting requirements of section 396 of ihe 2006 Act oiher than 8ny requirement thal the accounts give a 'tru¢ and fair vieW which is not a mAtler considered as part of an independent examination; or 4. the accounts have not been prepared in accordhn¢¢ with th¢ methods and principles of the Ststement of Recommended Prllclice for a¢countin8 and reporting by charities [applicable to ¢h4rities preparlng their accounts in accordance with the Financial Reporting Standard applicable in Ihc UK and Republic of Ireland (FRS 102)]. I have no conccrns and have come across no other maltcrs in connection with the examinalion to which &ttcntion should be drawn in this report in OTdeT to enable a prop¢r understanding of the accounts lo b¢ reached. H Holmes Bsc FCA Chartered Accountsnts & Business Advisors ICAEW Loivther House LOtr Street Kendal LA9 4DX Page 7
Sight Advlce South Lakes Statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognlsed Gains and Losses) Unrestricted funds Restricted funds Total 2024 Note Income and Endowments from: Donations and l¢ga¢i¢s Charitable activities Other trading activities Investmenl income Other income 63,682 63.194 16,869 2,103 1,601 452 133,344 754 64,134 196,538 17,623 2,103 1,601 Total income 147,449 134,550 281,999 Expenditure on: Raising funds Charilablc activities (26.134) (105,794) (2.017) {134,987) (28.151) (240.781) Total expenditure (131,928) (137,004) (268,932) Net income/(expenditure) 15,521 (2.454) 13,067 Net movcment in funds 15,521 {2,454) 13,067 Re¢on¢lllatlon of funds Tothl funds brought forward 575.971 60.066 636,037 Total funds carried fonvard 18 591,492 57,612 649,104 The notes on pages I I to 29 forni an integral part of these fjnancial statements. Page 8
Slght Advice South Lakes Statement of Financial Activities for the Year Ended 31 March 2024 (Includlng Income and Expenditure Account and Statement of Total Recognised Galns and Losses) Unrestri¢ted funds Restrl¢ted funds Total 2023 Note Income and Endowments from: Donations and legacies Charitable activities Oiher trading activities Investmeni income Other income 52.612 7,535 15.773 1,069 2,339 52.621 177,150 16,598 1,069 2,339 169.615 825 Total in¢om¢ 79.328 170,449 249,777 Expendlture on: Raising funds Chllrilable activities (25.212) 72,787 (2.377) 156,939 (27.589) (229,726 Total expenditure Net (¢xpenditure)/income Transfers behveen fimd5 97,999) (159,316 {257,315) (18,671) 2,892 11,133 (2,892 (7,538) Net movement in funds (15,779) 8,241 (7,538) Re¢onclllAtlon of fund$ Total fvnds brought for4vard Tolal funds carried forni*rd 591,750 51,825 643,575 18 575.971 60.066 636.037 All of the charity's actiNities derive from continuing operations during the above tivo periods. Thc funds br¢akdowm for 2023 is shown in note 18. The notes on pages I I to 29 fomi an integrnl part of these financial statements. Page 9
Sight Adviee South Lakes (Registration number: 7879355) Balance Sheet as at 31 March 2024 2024 2023 Note Flxed assets Tangible assets 15 296,120 306,822 Current assets Debtors Cash ai bank and in hand 16 2.778 395.626 2,365 412,914 398,404 415.279 Creditors: Amounts falling due Thlthln one year 17 (45,420) {86,064) Net current assets 352,984 329,215 Net assets 649,104 636,037 Funds of the charity: Restricted income funds Restricted funds 18 57.612 60.066 UDrestricted income funds Unrestricted fiinds 591,492 575,971 Total funds 18 649.104 636,037 For the financial year ending 31 March 2024 the charity ivas enliiled to exemption from audit under section 477 of the Companies Aci 2006 relating to small companies. Directors. responsibilities: The rnembers have nol requircd the charity to obtsin an audit of its accounts for the year in question in accordance wtth section 476. and The dtrectors acknowledg¢ their SPonsIbl11t1CS for complying wlth the requirements of the Act ivith respect to accounting records and the preparntion of accounts. These financial statcm¢nts have been prepared in accordance with the special provisions relating lo companies Subject to the small companics regimc ivithin Part 15 ofthe Companies Act 2006. The financial statements on pages 8 to 29 were approved by the tnlee5. and authorised for issue on 12 November 2024 and signed on their behalf by: Dr S Riding Trnslee The notes on pages I I to 29 forn] an integral part of thes¢ financial statements. Page 10
Slght Advlce South Lakes Notes to the Financial Statements for the Year Ended 31 March 2024 I Charlty status The ¢harity is limited by guarantee, incorporated in England and Wales, and ¢onsequently does not have share capital. Each of the Ifustees is liable to contribu1¢ an amount not ¢xceeding £1 towards th¢ assets of the charity in ihe event of liquidation. The address of its registered otTice is.. Bradbury Centre 116 Highgate Kendal Cumbria LA9 4FIE These fjnancial stai¢m¢nls w¢re auihorised for issue by the trusiees on 12 November 2024. 2 A¢¢ountlng poll¢le$ Summar), ofslgnllleant #ceountlng pollcles and koy Aceountlng ¢stlmAtes Th¢ principal accounting policies applied in thc preparation of thcse financial statements are set out below. These policies have been consisienily #pplicd lo all the years presented, unless othcnvise slated. Stgtement ofcompll2nce The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Siatemeni of Recommended Practice applicable to ¢harilies preparing thcir accounts in accordance Kviih the Financial R¢porting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective l January 2019) - (Charities SORP (FRS 102)). Ihe Financial Reportin8 Standard applicabl¢ in the UK and Republic of Ireland (FRS 102). Thcy also comply ivith ihe Companies Act 2006 and Charilies Aci 2011. Basls of preparatlon Sight Adlce South Lakes meets the definition of a public benefit ¢nlily und¢r FRS 102, Assets and liabilities are initially reco8nis¢d at historical Cost or transaclion value unlcss oth¢nvis¢ staled in the relevant accounting policy noics. The financial ststements are presenied in sierling ivhich is the functional currency of the charity and rounded lo Ihe nearest £. Golng eoneern The trustees ¢onsid¢r that thcr¢ ar¢ no mat¢rial unc¢rtaintics about the charitls ability to continue as a going concern nor any significant ar¢as of uncertainty that affect the Carrying value of assets hcld by the charity. Income 2nd endowments All income is recognised once the charity has entitlement lo the income, il is probable that the income 111 be received and the amount of the incorne receivable can be measured reliably. Pagcll
Sight Advice South Lakes Notes to the Financial Statements for the Year Ended 31 March 2024 Donaftons and legtt¢ies Donattons are recognised when the charity has been notifi¢d in writin8 ofboth the amount atKI seltlement date. In the eveni that a donation is subject lo ¢ondilions thai require a level of perfomiance by the charity before the charily is en11d to the funds, the income is deferred and not recognised until either those conditions are fully met. or the fuifilmenl of those conditions is wholly within the control of the charity and it is probable that these conditions will bc fulfilled in the rcporting period. Legacy gifts are recolSed on a case by case basi5 following the grant of probale when the administratorlexecutor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the forni of an asset other than cash or a financial asset traded on a recognised stock exchange. recognition is subject to the value of the gift being reliably measurable with a degree of re&8onable attwacy and ihe lille to the asset having been transferred to the charity. Del¢•Ted income Deferred income represents amounts received ft)r future periods and is released lo incoming resources in the period for ivhieh, it has been receive¢L Such income is only deferred ivhen: - The donor specifies that the grant or donaiion must only be used in fu¢ accounting peTiods' or - The donor has imposed conditions ivhich must be met before the charity has unconditional entitlement. Expendilure All expenditure is regniSed once Iherc is a legal or conslrnclive obligation lo that expenditure. il is probable settlemenl is required and the amount can be measured reliably. All costs are allocated to the applicable expendilurc heading that awgate similar costs to that category. Wh¢r¢ ¢osts cannot be directly attributed to particular headings they havc bcen allocated on a basis consistent ifvith the use of resources, with central staff costs allocated on the basis of time spenL and depreciation charges allocaied on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Raisiiigfiinds These are costs incurrcd in attracting voluntary income. th¢ management of Investnnts and those incurred in trading activities that rdisc funds. Chan"lable qdivilies Charitable expcnditure compriscs those costs incurred by the chariiy in the delivery of its aciivities and services for its beneficiaries. It includes both costs that can allocated directly to such activities and those Costs of an indirect nature necessary to support thenL Support costs Support costs include central functions and have iw) allocated to activity cost categories on a basis consistent vith the use of re50ur¢es, for example. allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. Governan¢e ¢ost$ These include the costs allributable th th¢ ChaTity'S complian¢¢ with constithtional and slatutory requirements, including audiL stralegic managemenl and Tnlee.5 meelings and reimbursed expenses Page 12
Stght Advice South Lakes Notes to the Financial Statements for the Year Ended 31 March 2024 Taxation The charity is Considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and lhef0re it rneels the definition of a charitable company for UK corporation purposes. Accordingly, Ihe charity is potentially exempt from atIon in respeci of income or capital gains re¢¢ived within categories covered by Chapter 3 Part I l of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent ihal such income or gains are applied cxclusively lo clwiiable purposes. Tanglble flx¢d assets Individual red assets cosling £500.00 or more (compulers £IOOO) are initially recorded at cost. les5 any subsequent accumulated depreciation and subsequent accwnulated impairnient losse5. D¢preclalion and amortisation Depreciation is providcd on tangible fixed assets so as to ivrite off the c05t or valuation, less any estimated residual value, over their expected useful economic life as follows: Asset class Land and Buildings Furniture, Fitlings and Equipment Computer Equipment Depreciation method and rate 20/0 Strdight Line IOO/o Straight Line 33.30/0 Straight Line Trade debtors Trddc dcbtors ar¢ amounts due from cu51omer5 for merchandise sold or services perfonned in the ordinary course of business. Trdde debtors are reco8nised initially ai the transaction price. They are subsequently measured at amortised cost using the effe¢tive Int¢t method, less provision for impairment. A provision for the impaient of trade debtors is established ivhen there is objective evidence thal the charity viill not be able to collect all amounts due according 10 the original ternts of the receivables. Cash 2nd cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-tenn highly liquid investments that are readily convertible to a knoivn amount of casb and are subject to an insignificant risk of change in value. Trade credltors TTade Creditors are obligations to pay for goods or services that have been a¢quiTed in the ordinary course of business from supplicrs. Accounts payable are classified as current liabilitios if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the crditor for at least ttvelve months aft¢r the reporting date. If there is an unconditional right to defer seltlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using Ihe effective interest method. Fund stru¢tur¢ Unrestrictcd income funds arc genernl funds that are available for use at thc trustees, discr¢tion in fiherance or the objectives of the charily. Page 13
Sight Advice South Lakes Notes to the Financlal Statements for the Ye2r Ended 31 March 2024 Designat funds are unrestricted set aside for specific purposes at the discretion of the trustees. Restricted income funds are those donated for use in a particular area or for specific purposes. the use of which is restricted to that arva or purpo. Financial iDstruments aassification Financial assets and financial liabilities are recognised when the cl)aTity beco a party to the contractual provisions of the instrument. Financial liabilities and equity itsstiirnents are clwified according to th¢ substance of the contractual arrangements entered inio. An equity instrumenl is any contraci that evidences a residual interest in the &ssets of the chaTity after dedu¢tiDS all of its liabilities. Recogwtton qndme45urenJ¢nt All fll)ancial assets and liabilities are initially at ITaDsaction price (iDcluding transaction costs), except for those fllMi¢ial assets classifjed as at fair value through profit or lo. I1¢h are initially nlled al fair value (which is nomally the tran5actlOD price excluding transaction costs). unless the arrangement ¢onstitut¢s a fanCIng Iransaction. If an arrangement constitutes a financing tratLsaction, th¢ fmancial wet or fuwicial liability is measured at the present value of the future payments discounted at a market rdte of interest for similar debt instnmnent. Financial assets and liabilities are only off5¢t in the statemeot of financial position Whe and only when there exists a legally enfor¢e8ble right to set off the recolS¢d ants and the charity intends either to settle on a net basis. or to realise the asset and settle the liability simultaneousty. Financial assets are deOgnIsed when and only when a) the contractual rights to the flows frorn the financial asset expire or are Settle b) the charity transfers lo another party substantially all of the risks and rewards of ownership of the financial a5seL or c) the elwity, despite having retsined some. but not all, significanl risks and rewards of ownership, has transferred control of the asset to another paty. Financial liabilities are derecognised Only wben the obligation specified in contract is discharged. ¢an¢elled or expires. Page 14
Sfight Advice South Lakes Notes to the FfinanclAI Statements for the Year Ended 31 March 2024 3 In¢ome from donadons and legacles UDrestricted fuDd$ General Restri¢ted funds Total 2024 Donations and legacies. Donations from individuals Legacies Gift aid reclaimed 20,844 40,000 2.838 452 21,296 40.000 2,838 63,682 452 64.134 Unrestrl¢ted funds General Restrlcted fuDds Total 2023 Donations and legacies" Donalions from companies, trusts and similar proceeds Donations from individuals Legacies Gift aid reclaimed 9,969 19.947 20,330 2.366 9,969 19.956 20,330 2,366 52.612 52,621 Page 15
Sight Advlce South Lakes Notes to the Financial Statements for the Year Ended 31 Mareh 2024 4 Incomo from ¢harltabl¢ a¢tlvStits Unrestrl¢ted funds G¢ner21 Restricted fund$ Total 2024 Big Lottery Fund Big Lottery Extra Support Henry Smith Eric Ivright Trust Masonic Charilable Tst Francis Scolt CYP Cumbria Communiiy Foundalion Galloways ECLO The Inman Charitable TnLSt Royal Victoria Trust February Foundation Garfield Weston Herd Laivson YBS Grant Bryan Lancaster 43.105 43,105 15,794 33,750 20.000 5.000 13,300 6,000 15.689 5,000 5,000 5,000 25,000 2,400 1.000 500 15,794 33,750 20.000 5.0(K) 13.3CK 6,000 15.689 5,000 25,000 2,400 1,000 500 63.194 133.344 196.538 Page 16
Sight Advice South Lakes Notes to the Flnanclal Statements for the Year Ended 31 March 2024 Unrestricted fund$ CtD¢ral Restricted fund$ Total 2023 Big Lottery Fund Big Lotiery Extra Support Henry Smith UHMBT for ECLO Eric Wright Trust Francis Scott CYP Cumbria Community Foundation Awards for All DWP Kickstarter Ulvers¢Toft- newsletter Lupton IowaTds Meet up & Call Gateway Group - Wednesday Social HeTd Lawson Galeivay Group - DSL Skipton - Explore 2 Clark - towards new PC Kendal BID Harold & Alice Bridges- IT equipment Bryan LAn¢ast¢r Other unrcstricl¢d grants Alpkit - Wlak in the Park 43,181 43,181 5,385 33,100 15.689 20,000 13,800 19,016 8,718 6,081 1,860 1,500 1,000 2,400 760 850 500 500 500 2.000 150 160 5.385 33,100 15,689 20,IKJO 13,800 19,016 8,718 6.081 1,860 1,SIXI 1,000 2,400 760 850 500 500 5¢XI 2,000 150 160 7,535 169,615 177,150 Page 17
Sfight Advice South Lakes Notes to the Financial Statements for the Year Ended 31 March 2024 5 Ineome from other trading aetMII Unrestrleted funds General Restricted funds Total 2024 Trdding income. Sales olgoods and services Local fundrnising and street collection incon Viial Group restricted 6,956 9.913 6.956 9.913 754 754 16,869 754 17,623 UDrutrfcted fund$ General Restricted funds Total 2023 Trading income. Sales of goods and services Local fundrdising and street ¢oll¢¢tion incon Vital Group reslricled Recharge of expenses to SLSB Enietprises 5,802 6,683 5,802 6,683 825 3,288 825 3288 15,773 825 16,598 6 Inve51meDt income Unrestrltted fuods General Total 2024 Other income from fixed 255¢t InvTrts 2.103 2.103 2.103 2.103 UDrestri¢ted funds C¢nerg1 Total 2023 Other income from fjxed asset inveslments 1.069 1.069 1,069 Page 18
Sight Advice South Lakes Notes to the Financial Statements for the Year Ended 31 March 2024 7 Other ineome Unre$trlcted funds General TotAI funds Rental income 1,601 1.601 Total for 2024 1.601 1,601 TotAi for 2023 2,339 2.339 8 ExpcndStur¢ QD rnislng funds 2) Colts of tradlDg aetlvltles UDrestrleted funds G¢ner21 Restrl¢tod fund$ Total 2024 Note Fundraising trnding costs: Sthff costs Advertisin8 and publicity Fundraisin8 expenses Cosi of goods sold Utilitics and raies covered by gran 17.598 768 95 7.673 17,598 1,476 95 7,673 1,309 708 1.309 26,134 2,017 28,151 Unrestrlcted fund$ General Reslrltted funds Tolal 2023 Note Fundraising trading costs; Slaff costs Advertising and publicity Fundraising expenses Cost of goods sold Fundraising ¢onsulthnts Utilities and rdles covered by grants 16.164 16,164 1,516 69 6,025 2,105 1,710 667 69 6.025 2.105 1,710 25,212 2,377 27,589 Page 19
SSght Advice South Lakes Notes to the Financial Statements for the Year Ended 31 March 2024 Allocated support ¢osts Total 2024 Direct Costs Costs of trading activities Other costs of generating funds 8.982 1.571 17.598 26580 1,571 10,553 17.598 Alloeated support costs 28.151 Totol 2023 Direct costs Cost5 of generating donalions and legacies Costs of trdding activities Other costs of generating funds 2.105 16,164 2.105 23,899 1,585 7,735 1,585 9.320 18,269 27,589 9 EYpenditur¢ on charitable activities Unrestricted funds G¢neral Restrlet¢d funds Total 2024 Staff Costs. rttruitment and training Telephone and computer Rates and utilities Statf travel Volunteer, user travel and expenses Group expenses Room Hire and Event Costs Printing, postage and slalionery Insurance Repairs and r¢n¢ivals Training and conference fees Sundry cxpcnscs Bookkeeping and payroll Independent examination fee Bank chargcs Depreciation 68.673 5,425 3,068 726 350 125,297 2,732 193,970 8,157 3,068 2.811 985 426 2,152 2,118 1.280 7,460 2,175 763 1,599 2,385 730 10,702 2,085 635 426 1,591 943 561 1,175 1.280 6,629 1,728 763 1,599 2.385 730 10,702 831 447 105.794 134.987 240,781 Page 20
Sight Advice South Lakes Notes to the Fin2nci21 Statements for the Year Ended 31 March 2024 Unrestrieted funds General Restricted funds Total 2023 Staff COS reCNItiTnt and trainin8 Telephone and computer Rates and utilitics Stsff travel Volunteer, user travel and expenses Group expenses Room Hire and Event Costs Insurance Repairs and renewals Trdining and conference fees Sundry expenses Bookkeeping and payToII Itependent examination fee Printing, postage and stationery Bank charges Depreciation 39,406 3,636 4,079 508 615 142214 4,805 181,620 8,441 4,079 2,492 702 538 5,125 1,564 4,703 2,709 1,728 876 1,890 2,388 696 10,174 1.984 87 538 4.500 625 1,564 4,577 868 1,728 876 1,890 1,544 696 10,174 126 1.841 72.786 156,939 229,725 Page2l
Sight Advlce South Lakes Notes to the FlnAncl21 Stgtements for the Year Ended 31 March 2024 Actlvlty undert2k¢ directly Actlvlty support ¢osts 2024 Staff Costs. recruitment and training Telephone and ¢omputer equipmen¢ Renl. rates and utility Charges Sthff travel Volunteer travel and expenses Group Expenses Room Hire and event costs Printing. postage and stationery Insurance Repairs and reneiva15 Tralning and conferen¢¢ fees Sundry Expenses Bookkeeping and payroll services Independent examination fee Bank Char8es D¢prcciation 153.086 40,884 8.137 3,068 193,970 8,157 3.068 2.811 985 426 2.152 2,118 1,280 7,460 2,175 763 1.599 2,385 730 10,702 2,811 985 426 2,152 2,118 1,280 7.460 2,175 763 1,599 2,385 730 10,702 161,635 79,146 240 781 Page 22
Sight Advlce South Lakes Notes to the Financial Statements for the Year Ended 31 March 2024 A¢tivity undertaken directly Attlvlty support costs 2023 Staff Costs, recruitmcnt and training Telephone and computer equipment Rent, rates and utility ¢har8¢S Staff travel Volunteer travel ind ¢xpens¢s Group Expenses Room Hire and evenl ¢osts Prinlin& postsge and slation¢ry Insurance Repairs and reneivals Ttaining and conference fees Sundry Expens¢s Bookkeeping and payroll servi¢es Indendent examination fee Bank Charges Dcprecialion 144,502 37,118 8,441 4,079 181,620 8.441 4.079 2.492 702 538 5,125 2.388 1,564 4,703 2,709 1,728 876 1,890 696 10,174 2,492 702 538 5,125 2,388 1,564 4,703 2,709 1,728 876 1,890 696 10,174 156,068 229,725 10 Analy$ls of goi'ernanee and support costs GovernAnee eos¢s Unrestrltted funds General Total 2024 Independent examiner fees Examination of the financial sthtements 2,385 2,385 2,385 2,385 Unr¢strl¢ted funds General Total 2023 Ind¢p¢nd¢nt examiner fees Examinalion of the financial statements 1,890 1,890 1,890 1,890 The Independent examincrfs finn also provides payroll services to the sum of £975 (2023 £876}. Page 23
Sight Advlce South Lakes Note5 to the Financial Statements for the Year Ended 31 March 2024 I l Net In¢omlngloutgoing resourc Net incomingl(oui8oin8) resources for the year include: 2024 2023 Depreciation of fixed a55ets 10,174 12 Trustees rtmuneradon And expenses No tsvstees, nor any persons connecied with lh¢ have received any remuncration from the charity duTing th¢ year. No Irustees have received any reimburscd expenses or any oth¢r benefits from the charity during the year. 13 Staff costs The a8gr¢8al¢ payroll costs were as follows.. 2024 2023 Staff costs durlng the year were: Wages and salaries Social securiiy cosls Pension costs 193,904 8,311 9,352 182,170 7,270 8,344 211,567 197,784 The monihly avera8e number of persons (including senior management I leadership t¢am) employed by the ¢harily during the year expsSed as full lime equivalents was as follows.. 2024 2023 Dircctor Fundrnising Adminislralion Project Officer5 The avcragc head count (number of statTemploycd) during the y¢ar ivas 12 {2022 - 12). 11 (2023 - 10) of ihe above employees participated in ihe Defined Conlribution Pension Schemes. Contributions to Ihc ¢mployee pension heMeS for the year totslled £9,352 (2023 - £8,344). No employee received emoluments of more Ihan £60,000 during the year. The toial employee benefits of the key management personnel of the charity were £52.793 {2023 - £48,492). Page 24
Sight Advlce South Lakes Notes to the Financial Statements for the Year Ended 31 March 2024 14 Taxation The charity is a registered charity and is therefore exempt from taxation. 15 Tangible fixed assets Land and buildings FurnEture and equipment Tot Cost At l April 2023 At 31 March 2024 343.717 38.019 381,736 343.717 38,019 381,736 Depreclation At l April 2023 Charge for the year 48.120 6.874 26,794 3,828 74,914 10,702 At 31 March 2024 54,994 30,622 85,616 Net book value At 31 March 2024 288,723 7.397 296,120 At 31 March 2023 295.597 11.225 306,822 16 Debtors 2024 2023 Accrued income 2,778 2,365 17 Credltors: amounts fallfng dlle ivlthln one yoar 2024 2023 Other taxation and social security Other creditors ACCalS Deferred income 3,125 2,872 2.248 37,175 3.003 2.770 2,101 78,190 86,064 2023 45.420 2024 Deferred income at l April 2023 Resources deferred in the period Amounts released from previou5 periods 78,190 37.175 (78.190) 49.576 78,190 (49.576) Deferred income at year end 37,175 78.190 Page 25
Sight Advice South Lakes Notes to the Financial Statements for the Year Ended 31 March 2024 18 Funds BA14ne¢ at 31 March 2024 Balance 4¢ I April 2023 Incoming resources Resourccs expended Transfers Unrestrlctod fund$ General Genernl funds 224,638 147.449 (121,226) 12,507 263,368 Designaled New building llnd assets Investment in tUre services Building mainl¢nanc¢ fund 306,822 29,511 15.000 (10,702) 296,120 17,004 15,(KiO 328,124 (12,507) 351,333 10,702 12,507 Total unr¢strlet¢d fund$ 575,971 591,492 Re5trlcted funds Big Loll¢ry Fund - New Masonic Charitable Trust The Inman Churilable Trust Galloivays ECLO Henry Smiih Building Appeal Luplon Tower Tn1 February Foundation Dual sensory loss Francis Scolt Trust Alpkit Kendal BID Ulverscroft Cumbria Community Foundation Smart Suite CCF YBS Grani YWCA Royal Victoria Trust Bryan Lancaster Group Activities Otber restricted Donations 4,026 43,105 5,000 5,000 15,689 33,750 {46,298) (5,000) (5,000) (14,572) (36,130) 833 4,314 3,533 3.296 631 5,431 1,153 3,296 (631) (5,000) (3) (14,414) 974 1.134 160 500 1,138 971 20 160 500 13,300 (1,138) 5,000 1,000 1,000 (4,443) {767) 557 233 1.000 34.831 2,857 500 3.954 ,316 34,959 (128) (2,143) 5,000 500 1,206 3,785 ,616 (1,337) 300 {300 Total restrlcted funds 60,066 134,550 137,Q04 57,612 Tot41 funds 636,037 281,999 268.932) 649.104 Page 26
Slght Advlce South Lakes Notes to Ihe Financlal Statements for the Yegr Ended 31 March 2024 B21ance At 31 Mareh 2023 Balanee at I Aprll 2022 Incomlng resources Resources expended Transfers UDre5trlcled funds General Generdl funds 230243 79,328 (87,825) 2.892 224,638 Designafed Neiv building and assets Investment in fuWr¢ seTVittS Building maintenance fund 316,996 29,511 15,fA)o {10.174} 306,822 29,511 15.000 361.507 10.174 351.333 Total UDrestrleted funds 591.750 79,328 (97.999 2,892 575.971 Reslrk¢ed Big Lottery Fund - New UHMBT ECLO Awards for All Galloways ECLO Henry Smith Herd Lawson Building Appeal Luplon Tower Trust Clark Foundalion Dual sensory loss Francis S¢olt Trust Fred Whitton Eric IVri8ht Harold & Alice Bridges Charity Alpkit Kendal BID Ulvers¢roft Skipton DWP KickstsrteT Cumbria Communily Foundation YWCA Group Activities Other restricied DOnlonS 43,181 (39,155) 4,026 3.017 (3,017> (23) 8,718 15,689 33,ILXI 2,4(Xl (8,695) (12,012) (32.633) (4,810) 637 4,314 3,533 2,410 3296 3,296 631 1.5(K) 500 769 13.8 (869) (478) (183) (12.666) (22) 388 974 166 (166) 20,01 (20.000) 500 160 51)0 1.860 850 6.081 (466) (34) 160 500 1,138 (722) (850) (6,042) (39) 19.016 (19,005) (i i) 34,959 3270 616 34,959 3.785 1,616 825 1,000 {730) 420 Total restrl¢ted lunds 51,825 170.449 {159,316) 2,892 60,066 Total funds 643.575 249.777 (257,315 636,037 Page 27
Sigbt Advice South Lakes Notes to the Flnanclal Statements for the Year Ended 31 Marcb 2024 The specific purposes for which the funds are to be applied att as follows: The Charity has several restricted funds. the largesi being The Big Loitery Fund - Reaching Communities These provided fmance for the ¢haTitsble activities and core fill1ng during the year. Brief details of the purposes of the other restricted funds are es follows: Henry Smith - Assistive Te¢l)nology and Community Outreach Francis Scott Tntst- activities and support for visually impaired children and youDg people: UHMBT- ECLO at Westmorjand General Hospital Big Loiiery Awards for All - Sighi Support Cumbria Community Foundation- Sight Support Eric Wright- Community Outreach 19 Analys1$ of net ossets behveen fnnds Total funds at 31 M2r¢h 2024 UDre$trieted funds General Designated Restricted funds Tangible fixed assets Currenl assets Curreni liabililies 296,120 44,511 296.120 398,404 {45.420> 296,281 (45.420) 57.612 Total net assets 250.861 340,631 57,612 649,104 Total (unds at 31 March 2023 Unrestricted funds General De5ign#ted Restrlcted fund5 Intangible red assets cuellt assets Current liabilities 306,822 44.511 306,822 412.914 (86.064) 308,337 (86,0&4) 222.273 60,066 Toral net assets 351.333 60.066 633.672 Page 28
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