Docusign Envelope ID: 733DE084-E783-4E0F-A665-D0DB676D66ECDocusign Envelope ID: EDE9BB74-00E2-4B0D-8B54-531B47EC7BB6
Company registration number: 07977903 Charity number: 1146413
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED
31 MARCH 2024
BERKSHIRE COUNTY BLIND SOCIETY (A company limited by guarantee)
Docusign Envelope ID: 733DE084-E783-4E0F-A665-D0DB676D66ECDocusign Envelope ID: EDE9BB74-00E2-4B0D-8B54-531B47EC7BB6
BERKSHIRE COUNTY BLIND SOCIETY (A company limited by guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 6 |
| Independent auditors' report on the financial statements | 7 - 10 |
| Statement of financial activities | 11 - 12 |
| Balance sheet | 13 |
| Notes to the financial statements | 14 - 32 |
Docusign Envelope ID: 733DE084-E783-4E0F-A665-D0DB676D66ECDocusign Envelope ID: EDE9BB74-00E2-4B0D-8B54-531B47EC7BB6
BERKSHIRE COUNTY BLIND SOCIETY (A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024
| Trustees | Jane Veys, Chair |
|---|---|
| David Few, (Consultant in Blandy & Blandy LLP) | |
| Peter Orr* | |
| Don Reed* | |
| Ian Fraser | |
| Andrew Jones | |
| Martin Gubb | |
| Robert Bristow*(appointed 1 November 2023) | |
| Company Registered Number 07977903 Charity Registered Number 1146413 Registered Office Midleton House 5 Erleigh Road Reading RG1 5LR President Patrons The Hon Mrs Jessica White The Rt Hon the Lord Richard Benyon of Englefield Chris Tarrant OBE Souleyman Bah Chief Executive Officer Head of Finance and Deputy Chief Executive Finance Manager Head of Volunteering Laura Mitchell Sara Gibbons (resigned 24 January 2024) Tracey Malins (appointed 23 November 2023) Gillian Comley Independent Auditors Menzies LLP Chartered Accountants Magna House 18-32 London Road Staines-Upon-Thames TW18 4BP Bankers National Westminster Bank plc Reading Solicitors Blandy & Blandy LLP 1 Friar Street Reading Investment Managers Rathbone Investment Mangement Ltd 8 Finsbury Circus London EC2M 7AZ |
*Denotes individuals who have sight-loss/sight condition
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Docusign Envelope ID: 733DE084-E783-4E0F-A665-D0DB676D66ECDocusign Envelope ID: EDE9BB74-00E2-4B0D-8B54-531B47EC7BB6
BERKSHIRE COUNTY BLIND SOCIETY (A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024
The Trustees have pleasure in presenting their annual report together with the financial statements of the Charity for the year ended 31 March 2024. The financial statements have been prepared to meet the requirements for a Directors’ report and accounts for Companies House purposes. The financial statements comply with the Companies Act 2006, the Charity's Constitution, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable in the UK and RoI (FRS 102) (effective 1 January 2019). Berkshire County Blind Society is a charity registered with the Charity Commission under registration number 1146413. It is also registered at Companies House as a private charitable company limited by guarantee under company number 07977903.
The Berkshire County Blind Society, under its working name of Berkshire Vision, aims to provide visually impaired people in Berkshire with the information and support they need to live independently and safely. We do this through direct support, social and peer support, information and advice and the provision of opportunities that would not otherwise be available to visually impaired people. The area covered by the Charity is the Royal County of Berkshire.
The Charity’s Objectives
Objectives
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To give visually impaired people independence through a safe and effective support service throughout Berkshire.
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To enhance and enrich the lives of visually impaired people throughout Berkshire.
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To promote eye health to prevent sight loss.
We provide practical support for visually impaired people through our sight loss support service, children & families service, adapted sports, social activities, tech buddies, employability, befriending, Realeyes guiding. information and guidance, accessible transport, equipment and resources support.
We enhance and enrich lives by providing opportunities for people with sight loss to meet together in various ways enabling them to reach their potential and access opportunities.
We promote eye health to prevent sight loss by working closely with hospital eye clinics and local optical groups, engaging with sight loss condition-specific groups and by working in collaboration with national organisations such as RNIB, Guide Dogs, Macular Society, Glaucoma UK and Visionary. We provide sight loss training to local organisations and the local community across Berkshire.
The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Charity's aims and objectives and in planning future activities.
What we do : Achievements & Performance
Our Strategic Plan was reviewed and updated in 2020 and outlines our key objectives for the years 2021 to 2026. These can be found on our website www.berkshirevision.org.uk/our-strategy
Our Services
Berkshire Vision works towards its aims and objectives through the direct support of over 1,400 blind and partially sighted children and adults across the county, as well as the children's parents/carers and siblings. Referrals are commonly from hospital eye clinics, local Sensory Needs Teams, GPs, other partners, friends and family, self-referral. Areas of support include:-
Sight Loss Support is provided by our dedicated team of officers who work with our members at any point in their sight loss journey where they feel they would like their support alongside them. They holistically assess their needs using a nationally recognised framework, the Sight Loss MOT, and co-develop a support plan to address the identified needs. During the year, we were fortunate to be able to expand the number of hours of support being delivered in Wokingham to meet the increasing demand for support in the area. Across Berkshire, 560 adults with sight loss were supported through this service.
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Docusign Envelope ID: 733DE084-E783-4E0F-A665-D0DB676D66ECDocusign Envelope ID: EDE9BB74-00E2-4B0D-8B54-531B47EC7BB6
BERKSHIRE COUNTY BLIND SOCIETY (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Our Social Activities programme is designed to provide a range of peer support and leisure activities to build skills, confidence, increase wellbeing and counter the isolation that can be felt because of sight loss. This programme includes remote activities accessible from home without the internet, as well as a wide range of face-to-face activities covering activities ranging from theatre trips with audio description and touch tours, to picnics, social afternoons, boat trips and art sessions. It includes specific peer groups for minority groups within the sight loss community such as the 18-35’s group which supports with their transition to becoming independent adults, and the dual sensory loss group for those who are also living with hearing loss alongside their sight loss. 270 members accessed this support during the year.
Telephone Befriending is a popular service set up to reduce social isolation and loneliness through regular calls from a trained volunteer. In 2023-24 over 38,000 minutes of befriending were delivered for 149 members.
Realeyes, provides a trained volunteer to support and enable a visually impaired person to go back out into their community and meet their own personal goal such as independently visiting a favourite café or travelling to a new job. 4 members were supported through this service during the year.
Sport is important for physical and mental wellbeing. We offer a range of sporting activities for all ages, for all levels of sporting and physical ability, and for all levels of sight loss. Sporting activities in 2023-24 included activities such as walks, boating, tandem cycling, golf, running, swimming, rock climbing and gentle exercise. 89 members accessed sport during 2023-24.
Our Children, Young People and Families programme supports blind and visually impaired children as well as their parents/carers and siblings. Our wide range of activities are designed to build confidence and challenge perceptions of what can be achieved, developing new skills and providing opportunities for peer support.112 visually impaired children were supported during the year along with their siblings and parents/carers.
Our Employability project provides one-to-one support to enter training, work placements and employment. 50 members accessed this support during the year.
Our Resources and Equipment Service provides access to a range of aids and adaptations to trial, purchase or loan. Technology is rapidly evolving and is often key to promoting independence both at home and out and about. Our Equipment, Technology and Resources Service enables people with sight loss to navigate this and access the solution which best for them to meet their individual goals. 221 members accessed this support during the year.
We have a team of Tech Buddies, some of whom are visually impaired themselves, to help with any IT gadget or app for people with sight loss. 139 members were supported by a Tech Buddy in 2023-24.
As transport is a key barrier facing people with sight loss, we offer accessible transport to our group sessions for those who are most in need of it and could not otherwise access support.
In partnership with RNIB, we deliver Living Well with Sight Loss courses which give practical advice and guidance. In 202324 we delivered three courses reaching 24 individuals.
Volunteers are the backbone of many charities and Berkshire Vision is no exception. In the year 2023-24 5,173 hours (equating to 2.65 full time workers) were donated to the charity covering a wide range of roles from tandem pilot to telephone befriender. All volunteers are offered training, and we support flexible volunteering with many volunteers fitting in time around busy lives. We are continually grateful.
All services are designed as a direct result of member needs and demand. This process includes considering both national research on the needs of visually impaired people as well as direct member feedback on their needs and services they would benefit from. KPI’s on the success and outputs of each service area is reported to the trustee board on a monthly basis. The impact of all services is measured and monitored. Impact reports on many of our services can be found at www.berkshirevision.org.uk/our-impact
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Docusign Envelope ID: 733DE084-E783-4E0F-A665-D0DB676D66ECDocusign Envelope ID: EDE9BB74-00E2-4B0D-8B54-531B47EC7BB6
BERKSHIRE COUNTY BLIND SOCIETY (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Governance and Management
Governing Document
The Berkshire County Blind Society was established in 1910 under a constitution and was a registered charity number 202351. The constitution was amended and adopted on the 8th October 2002. The Society was incorporated on 6th March 2012 and the company took over all the assets and liabilities with effect from 1st April 2012. The new Charity registration number is 1146413 and the Company number is 07977903. On 1st April 2015 the Society adopted the working name of Berkshire Vision. On November 1st, 2023, Reading Association for the Blind (Charity number 1062433 and Company number 03354127) was absorbed into Berkshire Vision.
Appointment of Trustees
The body of the trustees are appointed by the members of the Charity. New trustees are elected at the Annual General Meeting. One third of the Trustee board is elected by members at the Annual General Meeting and can serve for three years before seeking re-election.
New trustees are proactively sought by current trustees and the Chief Executive to provide the breadth of skills needed for the efficient running of the charity.
Trustee Induction and Training
When new trustees are appointed, they are introduced to the work of the Charity and provided with the information they need to fulfil their roles, which includes information about the role of trustees and charity law.
Trustee Involvement
The trustees meet at least four times a year. The trustees maintain an overview of the organisation, agree the strategic aims and monitor progress and performance accordingly. In order to enable effective monitoring of the key business areas the Board of Trustees has a Finance and Investment Committee, which is chaired by a trustee and has both trustee and executive officer membership.
To facilitate effective operations, the Chief Executive has delegated authority under terms approved by the Trustees for operational matters including finance and employment. The Chief Executive reports on the management of the Charity and on outputs, impact and the health of the Charity.
The pay of senior staff is reviewed annually and normally increased in line with that of other staff. Inflation levels are considered as part of the decision-making process. All roles are periodically benchmarked against charities of similar sizes in the local area and against other sight loss charities with a view to ensuring salaries remain competitive and fair whilst also being sustainable for the charity.
Fundraising
We do not engage the services of any third-party organisations to help raise funds. We are registered with the Fundraising Regulator and follow its code of practice. We have not received any complaints about any aspect of our fundraising. The Charity has a strong ethos of respect for service users’ independence and dignity and would not countenance any conduct or activity that undermined this. We do not engage in large scale fundraising activities such as mass mailings, telephone fundraising or door to door campaigns. .
Risk Management
The trustees are responsible for the identification and management of risk. The charity is annually reviewing its risk profile and maintains a risk register of actual and potential risks with established policies, systems and procedures to mitigate these risks.
This process identifies that the key risks to the charity are risks to funding, long staff working hours, and services over capacity. Plans are in place to review services to manage longer term sustainability in light of significantly increased demand, flexible working is encouraged, and investment in grants helps to reduce a previous reliance on local authority funding.
It also focused on the risks arising from health and safety, food hygiene, volunteer management, and employment. These risks are managed by having robust policies and procedures in place including a volunteer handbook and mandatory induction training, and regular awareness training for staff working in these operational areas.
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Docusign Envelope ID: 733DE084-E783-4E0F-A665-D0DB676D66ECDocusign Envelope ID: EDE9BB74-00E2-4B0D-8B54-531B47EC7BB6
BERKSHIRE COUNTY BLIND SOCIETY (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Financial Review
Reading Association for the Blind
On the 1 November Reading Association for the Blind assets and liabilities were taken on by Berkshire County Blind Society via a Deed of Transfer. The total value of net assets brought in were £750,321. The assets are restricted for the use of Reading residents in our charitable activities and held by the charity for the purposes detailed in note 20 (expendable endowment).
Berkshire County Blind Society
After the absorption of Reading Association for the Blind as at 31 March 2024 the Charity’s net assets were £3.09 million (2023: £2.3 million) an increase of £779,433 for the year. This is made up of fixed assets at £1.1 million, investments of £1.8 million and current assets/liabilities total of £0.2 million. Total income in the year was £1,425,136 (2023: £499,000) an increase of £926,136. Total expenditure in the year was £760,482 (2023: £655,000) an increase of £105,482.
The charity recorded a gain of £664,654 (2023: loss of £156,000), before a net gain on investments of £114,779 (2023: net loss on investments of £143,690).
Reserves Policy
The balance sheet shows a total funds and reserves figure of £3,093,161 (2023 : £2,313,728). Excluding the Restricted reserves of £1,023,937 (2023: £360,239) and the Revaluation reserve of £556,097 (2023: £573,597) – which is not distributable – the balance of the Charity’s funds stand at £1,513,127 (2023: £1,379,892). These are held in an expendable endowment fund which is held in fixed asset investments so the free reserves of the charity, are nil (2023: nil). To mitigate this and to ensure day to day operational working capital can be met the Charity has the ability periodically to drawdown a small capital element of the fixed asset investment without reducing its value in real terms. As at 31st March 2024 the value of this working capital held on deposit was £200,000 (2023 : £100,000).
The restricted funds are held by the Charity for the purposes detailed in note 20 and are used as required on appropriate expenditure. Note 20 also explains in detail the Expendable Endowment.
Investment Policy
The investment fund continues to be managed by Rathbones. The majority is held in the Core Investment Fund for Charities. The fund's objective is to achieve long term capital growth and a level of income employing a total return approach.
The fund returned investment income in the year of £45,203 (2023 £42,272) with interest on cash deposits £7,804 (2023 £568) giving total investment income of £53,007 (2023 £42,840)
Despite the volatility in the financial markets the fund made an unrealised gain in the year of £114,779 (2023 loss of £143,690) in line with the fund’s objective and thereby increasing the value of the charity’s fixed asset investment.
The Charity has adopted an ethical investment policy to ensure that its investments do not conflict with its aims.
The Charity’s ethical investment policy precludes direct or indirect investments in any company that manufactures tobacco or tobacco products, or derives more than 10% of its sales from gambling, high- interest-rate lending, pornography, or from the manufacture of alcohol or armaments.
Pensions
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.
In addition, the Charity operated a defined benefit pension scheme. Following the retirement on 31st July 2015 of the sole remaining member of staff contributing to the pension scheme an actuarial valuation was undertaken by the Royal County of Berkshire Pension Fund which established the Charities deficit at £185,000. This sum will be repaid in annual instalment over a 15-year term which commenced in July 2015. The balance outstanding at the year-end was £86,603 (2023 £98,390)
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Docusign Envelope ID: 733DE084-E783-4E0F-A665-D0DB676D66ECDocusign Envelope ID: EDE9BB74-00E2-4B0D-8B54-531B47EC7BB6
BERKSHIRE COUNTY BLIND SOCIETY (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Plans for the Future
As we move in to the 2024/25 financial year we are working to expand the support we give to visually impaired people across Berkshire by increasing our reach across the county including into communities disproportionately affected by sight loss and beginning a journey to adapt our services to be more sustainable for the significantly increased levels of demand. Statement of Trustees’ responsibilities
The Trustees (who are also the directors of Berkshire County Blind Society for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charitable company will continue in business;
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state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions, disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006 and the provisions of the charity’s constitution. They are also responsible for safeguarding the assets of the charity and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Disclosure of information to Auditors
In so far as the trustees are aware:
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there is no relevant audit information of which the charitable company's auditors are unaware; and
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the trustees have taken all the steps that they ought to have taken as a director in order to be aware of any information needed by the Company’s auditors in connection with preparing their report and to establish that the Company’s auditors are aware of that information.
Auditor
Under section 487(2) of the Companies Act 2006, Menzies LLP will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.
Small Companies Exemption
In preparing this report, the Trustees have taken advantage of the small companies exemptions provided by Section 415A of the Companies Act 2006.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ a: Jane Veys, Chair 3952E3F279604E0... by:
Date: 23-Sep-2024
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BERKSHIRE COUNTY BLIND SOCIETY
(A company limited by guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BERKSHIRE COUNTY BLIND SOCIETY
Opinion
We have audited the financial statements of Berkshire County Blind Society (the 'charity') for the year ended 31 March 2024 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
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give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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Docusign Envelope ID: 733DE084-E783-4E0F-A665-D0DB676D66ECDocusign Envelope ID: EDE9BB74-00E2-4B0D-8B54-531B47EC7BB6
BERKSHIRE COUNTY BLIND SOCIETY (A company limited by guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BERKSHIRE COUNTY BLIND SOCIETY (CONTINUED)
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements.
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the Trustees' report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of Trustees' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit; or
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the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' report and from the requirement to prepare a Strategic report.
Responsibilities of trustees
As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
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Docusign Envelope ID: 733DE084-E783-4E0F-A665-D0DB676D66ECDocusign Envelope ID: EDE9BB74-00E2-4B0D-8B54-531B47EC7BB6
BERKSHIRE COUNTY BLIND SOCIETY (A company limited by guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BERKSHIRE COUNTY BLIND SOCIETY (CONTINUED)
Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
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The charitable company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation. We determined that the following laws and regulations were most significant including; FRS 102, Charities SORP, Companies Act 2006, Charities Act 2011 and Safeguarding Vulnerable Groups Act 2006. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.
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We understood how the charitable company is complying with those legal and regulatory frameworks by, making inquiries to management, those responsible for legal and compliance procedures and the company secretary. We corroborated our inquiries through our review of board minutes.
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The engagement partner assessed whether the engagement team collectively had the appropriate competence and capabilities to identify or recognize non-compliance with laws and regulations. The assessment did not identify any issues in this area.
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We assessed the susceptibility of the Company’s financial statements to material misstatement, including how fraud might occur. We considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas; management override of controls to manipulate results, or to cause the Company to enter into transactions not in its best interests.
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Audit procedures performed by the engagement team included:
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Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;
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Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;
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Challenging assumptions and judgments made by management in its significant accounting estimates; and
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Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
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BERKSHIRE COUNTY BLIND SOCIETY (A company limited by guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BERKSHIRE COUNTY BLIND SOCIETY (CONTINUED)
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
Janice Matthews FCA (Senior statutory auditor)
for and on behalf of
Menzies LLP
Chartered Accountants Statutory Auditor Magna House 18-32 London Road Staines-Upon-Thames TW18 4BP
Date: 24-Sep-2024
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BERKSHIRE COUNTY BLIND SOCIETY (A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024
| Note Income and endowments from: Donations and legacies 3 Charitable activities 4 Investments 5 Other income 6 Total income and endowments Expenditure on: Raising funds 7 Charitable activities: 8 Visiting costs Other charitable activities Support costs Total expenditure Net income/(expenditure) Transfers between funds 20 Net movement in funds before other recognised gains/(losses) Other recognised gains/(losses): Gains on revaluation of investments Gains on revaluation of fixed assets Net movement in funds |
Endowment funds 2024 £ - - - - - - - - - - - 18,456 18,456 114,779 - 133,235 |
Restricted funds 2024 £ 256,836 24,590 - 747,361 1,028,787 - - 365,089 - 365,089 663,698 - 663,698 - - 663,698 |
Unrestricted funds 2024 £ 249,160 94,182 53,007 - 396,349 40,823 89,674 54,530 210,366 395,393 956 (18,456) (17,500) - - (17,500) |
Total funds 2024 £ 505,996 118,772 53,007 747,361 1,425,136 40,823 89,674 419,619 210,366 760,482 664,654 - 664,654 114,779 - 779,433 |
Total funds 2023 £ 359,989 92,407 42,840 4,000 499,236 29,176 71,180 397,905 157,362 655,623 (156,387) - (156,387) (143,690) 93,000 (207,077) |
|---|---|---|---|---|---|
Page 11
Docusign Envelope ID: 733DE084-E783-4E0F-A665-D0DB676D66ECDocusign Envelope ID: EDE9BB74-00E2-4B0D-8B54-531B47EC7BB6
BERKSHIRE COUNTY BLIND SOCIETY (A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
| Note Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Endowment funds 2024 £ 1,379,892 133,235 1,513,127 |
Restricted funds 2024 £ 360,239 663,698 1,023,937 |
Unrestricted funds 2024 £ 573,597 (17,500) 556,097 |
Total funds 2024 £ 2,313,728 779,433 3,093,161 |
Total funds 2023 £ 2,520,805 (207,077) 2,313,728 |
|---|---|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
Page 12
Docusign Envelope ID: 733DE084-E783-4E0F-A665-D0DB676D66ECDocusign Envelope ID: EDE9BB74-00E2-4B0D-8B54-531B47EC7BB6
BERKSHIRE COUNTY BLIND SOCIETY (A company limited by guarantee) REGISTERED NUMBER: 07977903
BALANCE SHEET AS AT 31 MARCH 2024
| 2024 | 2024 | 2023 | 2023 | |||
|---|---|---|---|---|---|---|
| Note | £ | £ | ||||
| Fixed assets | ||||||
| Tangible assets | 13 | 1,116,780 | 679,934 | |||
| Investments | 14 | 1,869,707 | 1,551,272 | |||
| 2,986,487 | 2,231,206 | |||||
| Current assets | ||||||
| Debtors | 15 | 170,542 | 33,423 | |||
| Cash at bank and in hand | 65,430 | 189,886 | ||||
| 235,972 | 223,309 | |||||
| Creditors: amounts falling due within one year | 16 | (42,695) | (42,397) | |||
| Net current assets | 193,277 | 180,912 | ||||
| Total assets less current liabilities | 3,179,764 | 2,412,118 | ||||
| Provisions for liabilities | (86,603) | (98,390) | ||||
| Total net assets | 3,093,161 | 2,313,728 | ||||
| Charity funds | ||||||
| Expendable endowment funds | 20 | 1,513,127 | 1,379,892 | |||
| Restricted funds | 20 | 1,023,937 | 360,239 | |||
| Unrestricted funds | 20 | 556,097 | 573,597 | |||
| Total funds | 3,093,161 | 2,313,728 |
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
[Gull] | ................................................[Marti.] Signed by: Martin Gubb FAC1C1FBC40645B...
Date: 24-Sep-2024
The notes on pages 14 to 32 form part of these financial statements.
Page 13
Docusign Envelope ID: 733DE084-E783-4E0F-A665-D0DB676D66ECDocusign Envelope ID: EDE9BB74-00E2-4B0D-8B54-531B47EC7BB6
BERKSHIRE COUNTY BLIND SOCIETY (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1. Company information
The principal activities of the charity are to provide visually impaired people with the information and support they need to live independently and safely. The incorporated charity (registered number 07977903 and charity number 1146413) is incorporated and domiciled in the UK. The address of the registered office is Midleton House, 5 Erleigh Road, Reading, Berkshire, RG1 5LR.
2. Accounting policies
2.1 Basis of preparation
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Berkshire County Blind Society meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Going concern
These financial statements have been prepared on the going concern basis which assumes that the charitable company will continue in operation for the foreseeable future, considered to be at least 12 months from the date of signing these financial statements.
The charitable company has prepared cash flow forecasts and projections to 30th September 2025. In the opinion of the Trustees there will be sufficient resources to meet the charitable company’s needs over the forthcoming 12 months.
Having regard to the above, the trustees believe it appropriate to adopt the going concern basis of accounting in preparing the financial statements
Page 14
Docusign Envelope ID: 733DE084-E783-4E0F-A665-D0DB676D66ECDocusign Envelope ID: EDE9BB74-00E2-4B0D-8B54-531B47EC7BB6
BERKSHIRE COUNTY BLIND SOCIETY (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
2. Accounting policies (continued)
2.3 Income
Voluntary income, including donations, gifts and grants that provide core funding or are of a general nature, are recognised where there is entitlement, receipt is probable and the amount can be measured with sufficient reliability.
Investment income is recognised on an accruals basis in the year to which it relates.
Income from charitable activities includes income from unitary authority service agreements which are recognised on an accruals basis in the year to which the income relates.
Fundraising income is recognised when received. All fundraising is undertaken by employees of the charity and may include street and static box collections, organised events, donations and grants from Corporate Bodies and Charitable Trusts.
For legacies, the charity reviews entitlement, probability of receipt and the ability to accurately measure the value due. Entitlement to legacy income is recognised at the earliest of receipt of a legacy estate distribution or notification of date of death along with the existence of an uncontested will. Legacies are accrued on these conditions if the income due can be accurately estimated based on information received in the will and statement of assets or other notification by the executors of the will.
2.4 Fund accounting
Endowment funds represent assets which are held as an expendable endowment, principally held in investments.
Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
2.5 Expenditure
Charitable activities expenditure comprises costs of providing support to the visually impaired, costs of activities in furtherance of the charity’s objects including the costs of providing resources, activities, outings and events for the visually impaired.
Support costs comprise administration costs for running the charity itself as an organisation.
2.6 Taxation
Irrecoverable VAT is not separately analysed and is charged to the statement of financial activities when the expenditure to which it relates is incurred and is allocated as part of that expenditure.
Tax recovered from voluntary income received under gift aid is recognised when the related income is receivable and is allocated to the income category to which the income relates.
The charity is exempt from corporation tax.
2.7 Tangible fixed assets and depreciation
Tangible fixed assets costing £250 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Page 15
Docusign Envelope ID: 733DE084-E783-4E0F-A665-D0DB676D66ECDocusign Envelope ID: EDE9BB74-00E2-4B0D-8B54-531B47EC7BB6
BERKSHIRE COUNTY BLIND SOCIETY (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
2. Accounting policies (continued)
2.7 Tangible fixed assets and depreciation (continued)
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
Freehold Buildings - 2% straight line Motor vehicles - 25% straight line Office equipment - 25% straight line Fixtures, fittings, plant and - 25% straight line equipment
The freehold property is held under the revaluation model.
2.8 Fixed Asset Investments
Investments are included at closing mid-market value at the balance sheet date. Gains and losses on the sale of investments are recognised in the year they are sold. Any gains or losses on revaluation are taken to the Statement of Financial Activities.
Investments in subsidiaries are valued at cost less provision for impairment.
2.9 Financial instruments
The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
2.10 Pension costs
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.
In addition, the Charity operated a defined benefit pension scheme. Following the retirement on 31st July 2015 of the sole remaining member of staff contributing to the pension scheme an actuarial valuation was undertaken by the Royal County of Berkshire Pension Fund which established the Society's deficit at £185,000. This sum will be prepaid in annual instalment over a 15-year term which commenced in July 2015.
2.11 Judgements in applying accounting policies and key sources of estimation uncertainty
In the application of the Charity’s accounting policies, which are described in note 2, Trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects the current and future periods.
The Trustees consider that there are no material judgements in applying accounting policies or key sources of estimation uncertainty.
Page 16
Docusign Envelope ID: 733DE084-E783-4E0F-A665-D0DB676D66ECDocusign Envelope ID: EDE9BB74-00E2-4B0D-8B54-531B47EC7BB6
BERKSHIRE COUNTY BLIND SOCIETY (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
3. Income from donations and legacies
| Donations Legacies Grants Government grants Total 2023 |
Restricted funds 2024 £ - - 256,836 - 256,836 245,042 |
Unrestricted funds 2024 £ 62,729 159,925 26,506 - 249,160 114,947 |
Total funds 2024 £ 62,729 159,925 283,342 - 505,996 359,989 |
Total funds 2023 £ 81,754 31,000 244,102 3,133 359,989 |
|---|---|---|---|---|
4. Income from charitable activities
| Unitary Authority Service Agreement Contributions to activities Transport contributions Resource centre income Club income Other Total 2023 |
Restricted funds 2024 £ - - - - 24,590 - 24,590 10,434 |
Unrestricted funds 2024 £ 61,637 9,634 8,462 9,284 - 5,165 94,182 81,973 |
Total funds 2024 £ 61,637 9,634 8,462 9,284 24,590 5,165 118,772 92,407 |
Total funds 2023 £ 49,257 9,521 7,572 15,348 10,434 275 92,407 |
|---|---|---|---|---|
Page 17
Docusign Envelope ID: 733DE084-E783-4E0F-A665-D0DB676D66ECDocusign Envelope ID: EDE9BB74-00E2-4B0D-8B54-531B47EC7BB6
BERKSHIRE COUNTY BLIND SOCIETY (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
5. Investment income
| Unit trust income Interest on cash deposits Total 2023 |
Unrestricted funds 2024 £ 45,203 7,804 53,007 42,840 |
Total funds 2024 £ 45,203 7,804 53,007 42,840 |
Total funds 2023 £ 42,272 568 42,840 |
|---|---|---|---|
6. Other incoming resources
| Profit on sale of minibus RAB Gift Total 2023 |
Restricted funds 2024 £ - 747,361 747,361 - |
Unrestricted funds 2024 £ - - - 4,000 |
Total funds 2024 £ - 747,361 747,361 4,000 |
Total funds 2023 £ 4,000 - 4,000 |
|---|---|---|---|---|
The RAB Gift of £747,361 represents monies and assets transferred to the charity from the Reading Association for the Blind . These assets are held in restricted funds and are used for the benefit of Reading and Greater Reading residents (Note 20).
Page 18
Docusign Envelope ID: 733DE084-E783-4E0F-A665-D0DB676D66ECDocusign Envelope ID: EDE9BB74-00E2-4B0D-8B54-531B47EC7BB6
BERKSHIRE COUNTY BLIND SOCIETY (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
7. Expenditure on raising funds
Fundraising trading expenses
| Allocated centrally incurred fundraising costs Total 2023 |
Unrestricted funds 2024 £ 40,823 29,176 |
Total funds 2024 £ 40,823 29,176 |
Total funds 2023 £ 29,176 |
|---|---|---|---|
8. Analysis of expenditure on charitable activities
Summary by fund type
| Other charitable activities Visiting costs Total 2023 |
Restricted funds 2024 £ 365,089 - 365,089 226,617 |
Unrestricted funds 2024 £ 264,896 89,674 354,570 399,830 |
Total 2024 £ 629,985 89,674 719,659 626,447 |
Total 2023 £ 555,267 71,180 626,447 |
|---|---|---|---|---|
Page 19
Docusign Envelope ID: 733DE084-E783-4E0F-A665-D0DB676D66ECDocusign Envelope ID: EDE9BB74-00E2-4B0D-8B54-531B47EC7BB6
BERKSHIRE COUNTY BLIND SOCIETY (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
9. Analysis of expenditure by activities
| Other charitable activities Visiting costs Total 2023 |
Activities undertaken directly 2024 £ 419,619 89,674 509,293 469,085 |
Support costs 2024 £ 210,366 - 210,366 157,362 |
Total funds 2024 £ 629,985 89,674 719,659 626,447 |
Total funds 2023 £ 555,267 71,180 626,447 |
|---|---|---|---|---|
Analysis of direct costs
| Staff costs Resource Centre costs Publications Minibus costs Club expenditure Outings events and activities Sport activities costs Sundry items Motor and other expenses Equipment Total 2023 |
Other charitable activities 2024 Visiting costs 2024 £ £ 317,906 75,576 18 - 12,140 - 23,203 - 24,005 - 21,462 - 4,424 - 16,461 - - 4,905 - 9,193 419,619 89,674 397,905 71,180 |
Total funds 2024 £ 393,482 18 12,140 23,203 24,005 21,462 4,424 16,461 4,905 9,193 509,293 469,085 |
Total funds 2023 £ 350,498 455 12,445 23,179 22,224 20,057 6,658 23,365 4,521 5,683 469,085 |
|---|---|---|---|
Page 20
Docusign Envelope ID: 733DE084-E783-4E0F-A665-D0DB676D66ECDocusign Envelope ID: EDE9BB74-00E2-4B0D-8B54-531B47EC7BB6
BERKSHIRE COUNTY BLIND SOCIETY (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
9. Analysis of expenditure by activities (continued)
Analysis of support costs
| Staff costs and pension Depreciation Premises expenses Marketing Heat, light and cleaning IT and telephone Printing and stationery Insurances Legal and professional Training Incidental expenses Other support costs Total 2023 10. Auditors' remuneration |
Other charitable activities 2024 £ 67,396 35,984 10,877 2,509 7,359 37,865 3,572 2,491 35,145 1,061 2,431 3,676 210,366 157,362 |
Total funds 2024 £ 67,396 35,984 10,877 2,509 7,359 37,865 3,572 2,491 35,145 1,061 2,431 3,676 210,366 157,362 |
Total funds 2023 £ 55,498 22,791 13,728 1,889 7,649 23,283 3,910 2,185 20,632 739 2,386 2,672 157,362 |
|---|---|---|---|
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Fees payable to the Charity's auditor for the audit of the Charity's annual accounts | 14,220 | 11,190 |
| Fees payable to the Charity's auditor in respect of: | ||
| All non-audit services not included above | 2,160 | 1,380 |
Page 21
Docusign Envelope ID: 733DE084-E783-4E0F-A665-D0DB676D66ECDocusign Envelope ID: EDE9BB74-00E2-4B0D-8B54-531B47EC7BB6
BERKSHIRE COUNTY BLIND SOCIETY (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
11. Staff costs
| Wages and salaries Social security costs Contribution to defined contribution pension schemes Operating costs of defined benefit pension schemes |
2024 £ 459,113 29,556 7,475 3,313 499,457 |
2023 £ 407,853 22,968 7,054 (3,455) |
|---|---|---|
| 434,420 |
The average number of persons employed by the Charity during the year was as follows:
| Employees The average headcount expressed as full-time equivalents was: Employees |
2024 No. 36 2024 No. 18 |
2023 No. 24 |
|---|---|---|
| 2023 No. 15 |
One employee received remuneration amounting to more than £60,000 in the year. (2023: None).
During the year, £3,313 of redundancy payments were made (2023: £Nil).
Key management consist of the Trustees and senior management team listed on page 1. The remuneration of key management (including employer's NI and employer's pension contributions) was £183,343 (2023: £142,230).
12. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023 - £Nil).
During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL) .
Page 22
Docusign Envelope ID: 733DE084-E783-4E0F-A665-D0DB676D66ECDocusign Envelope ID: EDE9BB74-00E2-4B0D-8B54-531B47EC7BB6
BERKSHIRE COUNTY BLIND SOCIETY (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
13. Tangible fixed assets
| Cost or valuation At 1 April 2023 Additions At 31 March 2024 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 |
Freehold land & property £ 625,000 425,000 1,050,000 - 11,229 11,229 1,038,771 625,000 |
Motor vehicles £ 92,665 46,000 138,665 50,943 19,445 70,388 68,277 41,722 |
Fixtures, fittings, plant & equipment £ 74,222 1,830 76,052 61,010 5,310 66,320 9,732 13,212 |
Office equipment £ 2,975 - 2,975 2,975 - 2,975 - - |
Total £ 794,862 472,830 1,267,692 |
|---|---|---|---|---|---|
| 114,928 35,984 150,912 |
|||||
| 1,116,780 | |||||
| 679,934 |
The freehold property was valued by a chartered surveyor from Haslams, property consultants, on 17 March 2023 on a market value basis. The historic cost of the property was £58,767.
Page 23
Docusign Envelope ID: 733DE084-E783-4E0F-A665-D0DB676D66ECDocusign Envelope ID: EDE9BB74-00E2-4B0D-8B54-531B47EC7BB6
BERKSHIRE COUNTY BLIND SOCIETY (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
14. Fixed asset investments
| Cost or valuation At 1 April 2023 Additions Revaluations At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 |
Investment in subsidiary company £ 1 - - 1 1 1 |
Quoted investments £ 1,551,271 203,656 114,779 1,869,706 1,869,706 1,551,271 |
Total £ 1,551,272 203,656 114,779 1,869,707 |
|---|---|---|---|
| 1,869,707 1,551,272 |
Principal subsidiaries
The following was a subsidiary undertaking of the Charity:
Name Company Registered office or principal Principal activity number place of business Berkshire Vision Limited 09690472 Midleton House, 5 Erleigh Road, 100% owned dormant Reading, RG1 5LR company
Page 24
Docusign Envelope ID: 733DE084-E783-4E0F-A665-D0DB676D66ECDocusign Envelope ID: EDE9BB74-00E2-4B0D-8B54-531B47EC7BB6
BERKSHIRE COUNTY BLIND SOCIETY (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
15. Debtors
| Due within one year Trade debtors Other debtors Prepayments and accrued income |
2024 £ 20,581 134,692 15,269 170,542 |
2023 £ 5,613 8,843 18,967 |
|---|---|---|
| 33,423 |
16. Creditors: Amounts falling due within one year
| Trade creditors Other taxation and social security Other creditors Accruals and deferred income |
2024 £ 12,116 11,207 1,619 17,753 42,695 |
2023 £ 10,702 9,545 793 21,357 |
|---|---|---|
| 42,397 |
17. Provisions
| Pension scheme deficit | 2024 £ 86,603 86,603 |
2023 £ 98,390 98,390 |
|---|---|---|
The pension scheme is administered as part of the Royal County of Berkshire Pension Fund. The scheme ceased within the fund on 31 July 2015 on the retirement of the remaining staff contributor and an actuarial valuation undertaken by the Royal County of Berkshire Pension Fund established a deficit of funds to meet future liabilities of £185,000.
This is repayable in annual instalments over a period of 15 years which commenced in July 2015. In accordance with FRS102, the provision is calculated as the net present value of the future contributions required over the next 7 years to clear the funding deficit of £86,603. In calculating this net present value, annual increases of 2.6% have been made and a discount rate is 3.95% representing the typical yield of high-quality corporate bonds has then been applied.
Page 25
Docusign Envelope ID: 733DE084-E783-4E0F-A665-D0DB676D66ECDocusign Envelope ID: EDE9BB74-00E2-4B0D-8B54-531B47EC7BB6
BERKSHIRE COUNTY BLIND SOCIETY (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
18. Financial instruments
Financial assets held at fair value are all investments.
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Financial assets | ||
| Financial assets measured at fair value | 1,869,706 | 1,551,272 |
19. Provisions
| At 1 April 2023 Amounts used Discounted adjustments |
Pension deficit provision £ 98,390 (15,100) 3,313 |
|---|---|
| 86,603 |
Page 26
Docusign Envelope ID: 733DE084-E783-4E0F-A665-D0DB676D66ECDocusign Envelope ID: EDE9BB74-00E2-4B0D-8B54-531B47EC7BB6
BERKSHIRE COUNTY BLIND SOCIETY (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
20. Statement of funds
Statement of funds - current year
==> picture [463 x 150] intentionally omitted <==
----- Start of picture text -----
Balance at 1 Transfers Gains/ Balance at 31
April 2023 Income Expenditure in/out (Losses) March 2024
£ £ £ £ £ £
Unrestricted
funds
Property
revaluation
reserve 573,597 - - (17,500) - 556,097
General Funds - 396,349 (395,393) (956) - -
-
573,597 396,349 (395,393) (18,456) 556,097
----- End of picture text -----
| Endowment funds Expendable endowment funds Restricted funds Sports Children's Funds Maidenhead Club Langley & Slough Club Socialeyes Hungerford Club Midleton House Facing the future Thatcham & Theale Club Berkshire Community Foundation Realeyes Aktiveyes Club Merger Employability Resources & equipment service Sight Loss Support Service Reading RAB - Cash |
1,379,892 22,864 153,871 42,880 43,420 17,548 6,584 909 24,766 61 4,023 6,066 4,048 - 3,796 16,228 13,175 - |
- 11,614 60,076 17,671 150 9,927 1,395 - 107,115 - - 8,656 2,352 10,000 18,565 22,809 10,000 277,457 |
- (24,080) (47,327) (10,805) (4,738) (4,692) (1,081) (630) (104,229) (61) (651) (10,827) (2,689) (5,000) (19,610) (30,243) (20,175) (73,412) |
18,456 - - - - - - - - - - - - - - - - - |
114,779 - - - - - - - - - - - - - - - - - |
1,513,127 |
|---|---|---|---|---|---|---|
| 10,398 166,620 49,746 38,832 22,783 6,898 279 27,652 - 3,372 3,895 3,711 5,000 2,751 8,794 3,000 204,045 |
Page 27
Docusign Envelope ID: 733DE084-E783-4E0F-A665-D0DB676D66ECDocusign Envelope ID: EDE9BB74-00E2-4B0D-8B54-531B47EC7BB6
BERKSHIRE COUNTY BLIND SOCIETY (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
20. Statement of funds (continued)
Statement of funds - current year (continued)
| Reading RAB - Assets Total of funds |
Balance at 1 April 2023 £ - 360,239 2,313,728 |
Income £ 471,000 1,028,787 1,425,136 |
Expenditure £ (4,839) (365,089) (760,482) |
Transfers in/out £ - - - |
Gains/ (Losses) £ - - 114,779 |
Balance at 31 March 2024 £ 466,161 1,023,937 |
|---|---|---|---|---|---|---|
| 3,093,161 |
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 £18,456 (2023: (£153,980)) was transferred into the Expendable Endowment from the Unrestricted - General Fund to bring the General Fund to nil.
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 & Slough/Langley 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.
Midleton House - represents grants restricted to the fabric of the building.
Facing the future - represents grant funding from the National Lottery.
Employability - represents grants restricted to our "Eyes on The Future" programme.
Reading RAB - Assets - represents Reading Association for the Blind (RAB) assets which include a building and vehicles which are specified to be used for the benefit of the visually impaired in Reading/Greater Reading area.
Reading RAB - Cash - represents Reading Association for the Blind (RAB) funds which are specified to be used for the benefit of the visually impaired in Reading/Greater Reading area.
Page 28
Docusign Envelope ID: 733DE084-E783-4E0F-A665-D0DB676D66ECDocusign Envelope ID: EDE9BB74-00E2-4B0D-8B54-531B47EC7BB6
BERKSHIRE COUNTY BLIND SOCIETY (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
20. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds General Funds - all funds Property revaluation reserve Endowment funds Expendable endowment funds Restricted funds Sports Children's Funds Maidenhead Club Langley & Slough Club Socialeyes Hungerford Club Midleton House Vehicles Facing the future Thatcham & Theale Club Berkshire Community Foundation Realeyes 18-35 Club Aktiveyes Club Employability Resources & Equipment Service |
Balance at 1 April 2022 £ - 480,597 480,597 1,677,562 28,863 154,186 46,670 46,990 15,784 7,347 - - - 1,300 4,902 14,268 294 4,240 2,874 - |
Income £ 243,760 - 243,760 - 33,629 33,657 6,683 50 4,317 750 11,132 34,166 52,114 615 - 14,477 - 2,019 15,795 40,633 |
Expenditure £ (429,006) - (429,006) - (39,628) (33,972) (10,473) (3,620) (2,553) (1,513) (10,223) (3,500) (27,348) (1,854) (879) (22,679) (294) (2,211) (14,873) (24,405) |
Transfers in/out £ 185,246 - 185,246 (153,980) - - - - - - - (30,666) - - - - - - - - |
Gains/ (Losses) £ - 93,000 93,000 (143,690) - - - - - - - - - - - - - - - - |
Balance at 31 March 2023 £ - 573,597 573,597 |
|---|---|---|---|---|---|---|
| 1,379,892 | ||||||
| 22,864 153,871 42,880 43,420 17,548 6,584 909 - 24,766 61 4,023 6,066 - 4,048 3,796 16,228 |
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Docusign Envelope ID: 733DE084-E783-4E0F-A665-D0DB676D66ECDocusign Envelope ID: EDE9BB74-00E2-4B0D-8B54-531B47EC7BB6
BERKSHIRE COUNTY BLIND SOCIETY (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
20. Statement of funds (continued)
Statement of funds - prior year (continued)
| Sight Loss Support Service Kickstarter Scheme Total of funds |
Balance at 1 April 2022 £ 34,928 - 362,646 2,520,805 - current year Balance at 1 April 2023 £ 573,597 1,379,892 360,239 2,313,728 - prior year Balance at 1 April 2022 £ 480,597 1,677,562 362,646 2,520,805 |
Income £ 2,307 3,132 255,476 499,236 Income £ 396,349 - 1,028,787 1,425,136 Income £ 243,760 - 255,476 499,236 |
Expenditure £ (23,460) (3,132) (226,617) (655,623) Expenditure £ (395,393) - (365,089) (760,482) Expenditure £ (429,006) - (226,617) (655,623) |
Transfers in/out £ (600) - (31,266) - Transfers in/out £ (18,456) 18,456 - - Transfers in/out £ 185,246 (153,980) (31,266) - |
Gains/ (Losses) £ - - - (50,690) Gains/ (Losses) £ - 114,779 - 114,779 Gains/ (Losses) £ 93,000 (143,690) - (50,690) |
Balance at 31 March 2023 £ 13,175 - 360,239 |
|---|---|---|---|---|---|---|
| 2,313,728 | ||||||
| Balance at 31 March 2024 £ 556,097 1,513,127 1,023,937 3,093,161 |
||||||
| Summary of funds | ||||||
| Summary of funds | ||||||
| General funds Endowment funds Restricted funds |
||||||
| Balance at 31 March 2023 £ 573,597 1,379,892 360,239 2,313,728 |
||||||
| Summary of funds | ||||||
| General funds Endowment funds Restricted funds |
21. Summary of funds
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Docusign Envelope ID: 733DE084-E783-4E0F-A665-D0DB676D66ECDocusign Envelope ID: EDE9BB74-00E2-4B0D-8B54-531B47EC7BB6
BERKSHIRE COUNTY BLIND SOCIETY (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
22. Analysis of net assets between funds
Analysis of net assets between funds - current period
| Tangible fixed assets Investments Current assets Creditors due within one year Provisions for liabilities and charges Total |
Expendable endowment funds 2024 £ - 1,513,127 - - - 1,513,127 |
Restricted funds 2024 £ 466,161 - 557,776 - - 1,023,937 |
Unrestricted funds 2024 £ 650,619 356,580 (321,804) (42,695) (86,603) 556,097 |
Total funds 2024 £ 1,116,780 1,869,707 235,972 (42,695) (86,603) 3,093,161 |
|---|---|---|---|---|
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Docusign Envelope ID: 733DE084-E783-4E0F-A665-D0DB676D66ECDocusign Envelope ID: EDE9BB74-00E2-4B0D-8B54-531B47EC7BB6
BERKSHIRE COUNTY BLIND SOCIETY (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
22. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior period
| Tangible fixed assets Investments Current assets Creditors due within one year Provisions for liabilities and charges Total |
Expendable endowment funds 2023 £ - 1,379,892 - - - 1,379,892 |
Restricted funds 2023 £ - - 360,239 - - 360,239 |
Unrestricted funds 2023 £ 679,934 171,380 (136,930) (42,397) (98,390) 573,597 |
Total funds 2023 £ 679,934 1,551,272 223,309 (42,397) (98,390) 2,313,728 |
|---|---|---|---|---|
23. Operating lease commitments
At 31 March 2024 the Charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows:
| Not later than 1 year Later than 1 year and not later than 5 years |
2024 £ 1,160 4,350 5,510 |
2023 £ 892 - |
|---|---|---|
| 892 |
Lease payments recognised as an expense in the Statement of Financial Activities during the year are £892 (2023: £1,141).
24. Related party transactions
David Few (Trustee) is a Consultant at the Charity's legal advisors. During the year they were paid £Nil (2023: £Nil) in relation to fees and expenses incurred. No amounts were outstanding at year end (2023:Nil). There were no other related party transactions during the year.
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