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2021-03-31-accounts

Legal and administrative information 1
Report of the Trustees 2 - 7
Report of the Auditors 8 — 11
Statement of Financial Activities 12
Balance Sheet 13
Statement of Cash Flows 14
Notes to the Financial Statements 15 - 28

LEGAL AND ADMINISTRATIVE INFORMATION
PATRONS: The Rt Hon the Lord Richard Benyon
Chris Tarrant OBE
PRESIDENT: The Hon MrsJessica White
TRUSTEES Greg Wilkinson (Chair)
David Few (Partner in Blandy & Blandy LLP)
Ian Fraser
Martin Gubb
Don Reed
*
Jenny Pape
*
Gerry Cowan (resigned 22 April 2021)
Jane Veys
SENIOR MANAGEMENT TEAM:
CHIEF EXECUTIVE: Laura Mitchell (appointed 1 January 2021)
HEAD OF FINANCE AND
DEPUTY CHIEF EXECUTIVE: Sara Gibbons
HEAD OF VOLUNTEERING: Gillian Comley (appointed 1 April 2020)
HEAD OF FUNDRAISING
& MARKETING: Geraldine Harmon (left 30 June 2020)
SOLICITORS: Blandy & Blandy LLP
1 Friar Street, Reading
BANKERS: National Westminster Bank plc
Market Place, Reading
AUDITORS: Crowe U.K. LLP, Aquis House, 49-51 Blagrave Street, Reading,
Berkshire, RG1 1PL
INVESTMENT MANAGERS: Rathbone Investment Management Ltd
8 Finsbury Circus, London EC2M 7AZ
REGISTERED OFFICE: Midleton House, 5 Erleigh Road, Reading, RG1 5LR
Telephone: 0118 987 2803
E-mail: office@berkshirevision.orci.uk

Expendable Total Total
Notes Unrestricted Restricted endowment funds funds
funds funds funds 2021 2020
Income £ £ £ £ £
Donations, legacies 4 140,856 141,639 - 282,495 139,618
and grants
Government Grants 33,804 - 33,804 -
Income from charitable
activities 6 76,263 11,778 - 88,041 118,749
Investment income 5 37,197 37,197 48,190
Total income 254,316 187.221 441,537 306.557
Expenditure
Fundraising 50,585 13,352 - 63,937 81,845
Charitable activities
Visiting costs 7 44,080 2,806 - 46,886 37,571
Activities 8 89,879 126,896 - 216,775 296,275
Supportcosts 9 150,159 10,658 160,817 241,526
Total expenditure 334.703 153.712 488.415 657.217
Net gains! (losses) on
investments 13 36,758 389,449 426,207 (164,608)
Net (expenditure)! 10 (43,629) 33,509 389,449 379,329 (515,268)
income
Transfer between
funds 23,605 (23,605) - -
Net movement in (20,024) 33,509 365,844 379,329 (515,268)
funds
Reconciliation of
funds
Total funds brought 506,221 333,341 1,414,514 2,254,076 2,769,344
forward
Total funds carried
forward 486.197 366.850 1,780,358 2.633.405 2,254.076

2021 2020
Notes £ £ £ £
FIXED ASSETS
Tangible assets 12 552,777 576,552
Investments 13 2,024,288 1,698,081
2,577,065 2,274,633
CURRENT ASSETS
Debtors 14 101,645 18,273
Cash at bank and in hand 15 107,080 147,572
208,725 165,845
CREDITORS: Amounts falling due
within one year 16 (24,352) (47,510)
Net current assets before pension
scheme deficit 184,373 118,335
Total assets less current liabilities 2,761,438 2,392,968
Pension scheme liability 17 (128,033) (138,892)
Net assets after pension scheme
deficit 2.633.405 2.254,076
Funds and reserves
Unrestricted — General 18 -
Unrestricted — Designated 18 - 10,00
Unrestricted — Property Revaluation 18 486,197 496,221
reserve
Restricted 19 366,850 333,341
Expendable endowment 20 1,780,358 1,414,514
2.633.405 2.254.076

2021 2020
£ £
Cash flows from operating activities
Net movement in funds 379,329 (515,268)
Depreciation 24,235 28,182
Investment income (37,197) (48,190)
Loss!(Gain) on investments (426,207) 164,608
(Increase)! Decrease in debtors (83,372) 5,957
Increase! (Decrease) in creditors (23,158) 2,557
Movement in pension scheme liability (10,859) 5,045
Cash (used in)/provided by operating activities (177,229) (357,109)
Cash flows from investing activities
Payments to acquire tangible fixed assets (460) (5,230)
Payments to acquire fixed asset investments - -
Proceeds on disposal of fixed asset investments 100,000 400,000
Investment income 37,197 48.190
Cash provided by! (used in) investing activities 136,737 442,960
Increase! (decrease) in cash and cash equivalents in the (40,492) 85,851
year
Cash and cash equivalents at the beginning of the year 147,572 61,721
Total cash and cash equivalents at the end ofthe year 15 £ 107.080 £ 147.572

value, of each asset over its expected use ful life, a
Freehold Buildings 2%
Motor Vehicles 25%
Office Equipment 25%
Fixtures, fittings, plant and equipment 25%

Unrestricted Restricted Total Total
Funds Funds 2021 2020
£ £ £ £
Grants 11,955 128,083 140,038 33,084
Legacies 94,646 - 94,646 70,000
Members subscription and
general donations 34,255 13,556 47,811 36,534
140.856 141.639 282.495 139.618

vestment income
Unrestricted Restricted Total Total
Funds Funds 2021 2020
£ £ £ £
Unittrustincome 37,152 - 37,152 47,899
Interest on cash deposits 45 - 45 291
37.197 - 37.197 48.190

Unrestricted Restricted Total Total
Funds Funds 2021 2020
£ £ £ £
Unitary Authority Service Agreement 72,217 - 72,217 71,612
Contributions to activities 2,454 250 2,704 8,809
Transport contributions 1,048 - 1,048 1,425
Resource centre income 544 544 1,776
Club income (see note 19) 11,528 11,528 35,127
76,263 11.778 88,041 118.749

haritableexpenditure - visiting costs
Unrestricted Restricted Total Total
Funds Funds 2021 2020
£ £ £ £
Salaries 43,477 2,806 46,283 33,013
Motor and other expenses 603 - 603 4,558
44,080 2.806 46,886 37.571

artae expenture — actvt s
Unrestricted Restricted Total Total
Funds Funds 2021 2020
£ £ £ £
Staff costs 73,001 109,316 182,317 223,511
Minibus costs 2,697 2,601 5,298 14,556
Outings events and activities 1,617 3,682 5,299 11,025
Resource Centre costs 129 628 757 1,461
Sports activities costs 276 576 852 3,743
Club expenditure - 9,520 9,520 26,619
Transport costs 706 - 706 1,596
Publications 7,800 375 8,175 12,950
Sundry items 3,653 198 3,851 814
89.879 126.896 216.775 296,275

haritable expenditure - support costs
Unrestricted Restricted Total Total
Funds Funds 2021 2020
£ £ £ £
Staff costs 69,999 4,623 74,622 118,491
Pension 3,125 - 3,125 18,675
Training 866 25 891 2,494
Printing and stationery 3,272 - 3,272 10,042
Heat, light and cleaning 4,706 1,236 5,942 6,250
IT and telephone 13,137 4,774 17,911 16,981
Insurances 1,420 - 1,420 4,485
Motor and travelling expenses - - - 955
Premises expenses 3,038 - 3,038 5,738
Incidental expenses 1,358 - 1,358 5,918
Depreciation 24,235 - 24,235 20,030
Marketing 1,529 - 1,529 6,886
Legal and Professional 21,527 - 21,527 24,581
Other support costs 1,947 1,947 -
150.159 10.658 160.817 241,526

Net (expenditure)/income
2021 2020
£ £
Net expenditure/(income) is stated after charging:
Depreciation of tangible fixed assets 24,235 28,182
Operating lease expense 1,189 1,189
Auditors remuneration (net of VAT)
-audit 10,400 10,250
- tax advisory - 960
- other services 2.165 1.800

nalysis of staff costs
2021 2020
£ £
Salaries and wages 332,017 399,628
Social security costs 26,675 28,988
Other pension costs 6,265 7,541
364,957 436,157
The average number of employees during the year was: 19 26
The full-time equivalent number of employees during the year 10 13
was:

ngible fixed assets
Fixtures,
fitting,
Freehold Motor Office plant &
property vehicles equipment equipment Total
£ £ £ £ £
Cost/Valuation
At 1 April 2020 560,000 61,655 24,190 54,588 700,433
Additions 460 460
Disposals
At31 March2021 560.000 61,655 24,190 55.048 700.893
Depreciation
At 1 April 2020 11,200 53,143 23,303 36,235 123,881
Charge forthe year 5,600 8,512 887 9,236 24,235
Disposals
At31 March2021 16.800 61 .655 24,190 45.471 148,116
Net Book Value
31 March 2021 543,200 - 9,577 552,777
At 31 March2020 548.800 8.512 887 18.352 576.552

2021 2020
£ £
Quoted investments
Market value at 1 April 2020 1,698,081 2,262,688
Additions
Disposals (602,010)
Movement in cash (100,000) 202,011
Revaluation gains! (losses) 426,207 (164,608)
Market value at 31 March 2021 2,024,288 1,698,081

14. Debtors
2021 2020
£ £
Trade debtors 1,814 10,217
Accrued income 94,999 2,250
Prepayments 4,832 5,806
101.645 18.273
15. Cash at bank and in hand
2021 2020
£ £
Bank 106,710 147,556
Cash 370 16
107,080 147.572
16. Creditors: amounts falling due within one year
2021 2020
£ £
Trade creditors 4,762 5,371
Deferred income - 5,065
Social security and othertaxes 7,110 9,149
Accruals and other creditors 12,480 27,925
24,352 47.510
17. Pension scheme
2021 2020
£ £
Pension scheme deficit 128.033 138.892

Balance at Income Expenditure Transfers Net Net Balance at
1 April investment 31 March
2020 gain/(Iosses) 2021
£ £ £ £ £ £
Unrestricted
General - 254,316 (324,703) 33,629 36,758
Unrestricted
Designated 10,000 - (10,000) - -
Unrestricted
Property
Revaluation 496,221 - (10,024) 486,197
Reserve
506.221 254.316 (334.703) 23.605 36.758 486.197
19.
Restricted funds
Balance at Income Expenditure Balance at
1 April 31 March
2020 2021
£ £ £ £
Children’s Funds 146,386 13,556 (6,256) 153,686
Maidenhead Club 48,011 9,950 (6,921) 51,041
Bracknell & Ascot Club 1,872 - (300) 1,572
Langley & Slough Club 48,321 724 (550) 48,495
Windsor Club 7,056 - - 7,056
Newbury Club 6,321 - (280) 6,041
Hungerford Club 8,294 126 (318) 8,102
Wokingham Club 2,325 387 (343) 2,369
Thatcham & Theale Club 1,828 61 (564) 1,325
Sports
GetActive 19,113 - - 19,113
Tennis 3,134 - (136) 2,998
Swimming 1,554 - - 1,554
Dragon boat 2,930 - (260) 2,670
Tandem bikes - 5,950 - 5,950
Fishing - 2,050 - 2,050
Activities - 25,921 (12,193) 13,727
Aktiveyes Club 4,883 278 (244) 4,917
18-35 Club 845 - - 845
Minibus Fund capital
account 10,316 2,200 12,516
Berkshire Community
Foundation 10,152 - (3,500) 6,652
AwardsforAll 10,000 1,200 (9,467) 1,733
Coronavirus Pandemic - 113,080 (108,080) 5,000
Response
Capital funding - 748 (748) -
Employability - 8,990 (3,552) 5,438
Tech buddies 2,000 - 2,000
333,341 187,221 153,712 366,850

BERKSHIRE COUNTY BLIND SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

19. Restricted funds (continued)

Children's funds - are funds to specifically benefit children.

Sports Fund - represents grants and donations to maintain and expand the sports programme.

Individual clubs' balances - represent funds held in their own accounts plus specific residual legacy monies in the case of Maidenhead, Bracknell, Slough/Langley, Windsor & Newbury clubs.

18-35 Club - represent funds specifically for 18-35 club activities.

Berkshire Community Foundation - represents grant money restricted to exercise and leisure activities for visually impaired adults in Berkshire.

Minibus Campaign – represents donations restricted to the purchase of a minibus for the entity’s charitable purpose.

Coronavirus Pandemic Response – represents grant money received by the charity during the Covid-19 pandemic to continue and expand its operations.

Employability – represents grants restricted to our “Eyes on The Future” programme.

Tech buddies – represent funds restricted to supporting visually impaired people through increasing their knowledge of technology.

20. Expendable endowment funds

Expendable endowment funds Balance
1 April
2020
£
1,414,514
Net
investment
gains/(losses)
£
389,449
Transfers
£
(23,605)
Balance
31 March
2021
£
1,780,358

The endowment fund represents assets which are held as an expendable endowment, however there are no records available to show the value of the initial gifts. Income arising on the Endowment fund can be used in accordance with the objects of the Society and is included in unrestricted income. The Trustees may convert all or part of the Fund into an income fund which can also be spent in accordance with the objects of the Society as unrestricted income.

In this financial year £23,605 (2020: £177,791) was transferred from the Expendable Endowment to the Unrestricted - General Fund to bring it to nil and prevent it from becoming negative – see Note 18

21. Movement in net funds

Cash at bank and in hand
Cash held with investment manager
Net cash
At 1 April
2020
£
147,572
203,779
351,351
Cash flow
£
(40,492)
(102,668)
(143,160)
31 March
2021
£
107,080
101,111
208,191

Page 24

.
nayss o net
assets etwee n uns - 0
Tangible Investments Net current Pension
fixed assets! fund 2021
assets (liabilities) liability Total
£ £ £ £ £
Expendable - 1,780,358 - - 1,780,358
endowment funds
Restricted funds - 366,850 - 366,850
Unrestricted funds 552,777 243,930 (182,477) (128,033) 486,197
552.777 2.024.288 184.373 (128.033 2.633.405
Analysis of net assets between funds — 2020
Tangible Investments Netcurrent Pension
fixed assets! fund 2020
assets (liabilities) liability Total
£ £ £ £ £
Expendable - 1,414,514 - - 1,414,514
endowment funds
Restrictedfunds - - 333,341 - 333,341
Unrestrictedfunds 576,552 283,567 (215,006) (138,892) 506,221
576.552 1.698.081 118.335 (138.892) 2.254.076

At 31 March 2021 the charity had annual commi
as follows:
tments under non-cancellable operati ng leases
2021 2020
£ £
Lease expiring
Within one year 1,189 1,189
Between 2 and 5 years 2,081 3,270
3.270 4.459

2021 2020
£ £
Financial assets measured at fair value 2.024.288 1.698.081
Financial assets measured at amortised cost 203.893 160.039
Financial liabilities measured at amortised cost 146.445 172,190
2021 2020
£ £
Total interest income for financial assets held at fair value 37.152 47.899
Total interest income for financial assets held at amortised cost 45 291

Expendable Total
Unrestricted Restricted endowment funds
funds funds funds 2020
Income £ £ £ £
Donations and 110,972 28,646 - 139,618
legacies
Income from charitable
activities 83,622 35,127 - 118,749
Investment income 45,288 2,902 48,190
Totalincome 239.882 66.675 306.557
Expenditure
Fundraising 81,845 - - 81,845
Charitable activities
Visitingcosts 37,571 - - 37,571
Activities 252,384 43,891 - 296,275
Supportcosts 240,920 606 241,526
530,875 44,497 575,372
Total expenditure 612.720 44.497 657.217
Net(losses)/gains on
investments (15,745) (148,863) (164,608)
Net (expenditure)/
income (388,583) 22, 178 (148,863) (515,268)
Transferbetween
funds 177,791 (177,791)
Netmovement in (210,792) 22,178 (326,654) (515,268)
funds
Reconciliation offunds
Total funds brought 717,013 311,163 1,741,168 2,769,344
forward
Total funds carried
forward 506.221 333.34 1 1.414.514 2.254.076

Balance at Income Expenditure Balance at
1 Apr11 31 March
2019 2020
£ £ £ £
Children’s Funds 142,479 4,879 (972) 146,386
Maidenhead Club 32,957 24,227 (9,173) 48,011
Bracknell & Ascot
Club 2,345 - (473) 1,872
Langley & Slough
Club 52,702 - (4,381) 48,321
Windsor Club 7,056 - - 7,056
Newbury Club 8,157 1,158 (2,994) 6,321
Hungerford Club 8,911 1,414 (2,031) 8,294
Wokingham Club 3,195 1,492 (2,362) 2,325
Thatcham & Theale
Club 1,410 2,830 (2,412) 1,828
Sports
GetActive 29,113 - (10,000) 19,113
Tennis 3,674 - (540) 3,134
Swimming 2,254 - (700) 1,554
Dragon boat 2,930 - - 2,930
Aktiveyes Club 3,671 4,005 (2,793) 4,883
18-35 Club 407 845 (407) 845
Minibus Fund
capitalaccount 5,000 5,316 - 10,316
Berkshire
Community
Foundation 4,902 7,000 (1,750) 10,152
Awards forAll - 10,000 - 10,000
FirstAid - 606 (606) -
The Earley Charity 2,903 (2903) -
311,163 66,675 (44,497) 333,341