## **IRIS VISION CHESHIRE** ## **Annual Trustees’ Report & Accounts** ## **April 2022-March 2023** **Registered with the Charity Commission 1153034** ## **TRUSTEES’ ANNUAL REPORT LEGAL AND ADMINISTRATIVE INFORMATION** ## **GENERAL** **Name & Status.** IRIS Vision Cheshire is a charitable incorporated organisation (CIO) which registered with the Charity Commission in July 2013 but became fully operational from 1st April 2014 when it had transferred to it the assets and responsibilities of its predecessor organisation, the IRIS Vision Resource Centre. The IRIS Vision Resource Centre had first registered with the Charity Commission in October 1993 as an unincorporated organisation, registration number 1045420, but its trustees and members decided to adopt incorporated status after conducting a risk assessment. The new charity, IRIS Vision Cheshire, has continued and expanded the work of its predecessor, and has retained its charitable objectives, which are TO PROMOTE THE RELIEF OF VISUALLY IMPAIRED PEOPLE IN ANY MANNER WHICH NOW OR HEREAFTER MAY BE DEEMED BY LAW TO BE CHARITABLE WITHIN THE COUNTY OF CHESHIRE AND ADJACENT DISTRICTS. **Principal address.** The principal address of the organisation is 18 Holly Mount, Shavington, Crewe CW2 5AZ. ## **STRUCTURE AND GOVERNANCE** **Governance.** The trustees of the IRIS Vision Resource Centre became the founding trustees of IRIS Vision Cheshire, and in accordance with the CIO constitution were elected to office for 2, 3 or 4 years as described below. New trustees are recruited by invitation after agreement by the Board. The trustees listed served on the IRIS Vision Board during the 2022/23 year. ## **Trustees** Trustees who served on the Board during 2022/23 were as follows. Kay Bailey, James Cummings, Carol Dodgson (resigned during year), Gwyn Griffiths (Chairman), Jennifer Holt (Treasurer) and John Jones. This Report is submitted by Gwyn Griffiths (Chairman). ## **BANKING AND FINANCE** **Banks.** The organisation’s primary bank is Lloyds, Victoria Street, Crewe. In addition it has cash and deposit accounts with CAF Bank, West Malling, Kent. **Risk management.** The trustees recognise they are working in uncertain times, often making forward planning very difficult. Regular finance reports are supplied at trustee meetings and risk assessments are undertaken from time to time. Identifiable risks are managed through a comprehensive insurance policy. ## **ANNUAL REPORT 2022-2023** 2022-2023 proved a watershed year for IRIS as the financial pressures that had affected the charity for many years finally came to a head with the withdrawal of CCG funding and the decision of Cheshire East to offer a contract which was impractical and unaffordable (as noted in the last Report “it was clear that the service level specified could not be met within the maximum contract value. IRIS declined to bid and it was unsurprising that no bids were received”). As a result the Trustees were forced to close operations, vacate the premises, and declare all staff redundant. Sadly it appears that the important services previously provided by IRIS under contract to the local authority and CCGs are no longer available to the visually impaired community locally. The Trustees would like to place on record their appreciation of the work of the staff throughout their employment and - in particular - during the close down of activities. Due to the willing flexibility of the staff it was possible to continue to provide support to the visually impaired community right up to the closure of the building and departure of the staff. Happily the charity was able to meet its redundancy liabilities in full and all of our employees were able to move into other suitable employment or retirement. Although most of the charity’s services ended, we were able (as noted in last year’s Report) to maintain the social group activities through a partnership agreement with the Wishing Well Project which secured this valued facility, initially to August 2025. The building sold by auction (in accordance with Charity Commission guidance on securing full value) in October 2022 and passed to new ownership in November 2022. Happily we were able to reach an amicable arrangement with our tenants (Crewe & Nantwich Talking Newspaper) for their vacating the premises. We thank them for their ready co-operation. IRIS now has a significant financial resource which it will use to the benefit of the visually impaired community in the area. The agreement with WW will require the use of part of this resource; the Trustees will, in due course, consider how the remaining reserves can be best used to meet its charitable purposes. Due to difficulties in accessing banking facilities, linked to the retirement and death of signatories, and poor advice from one banker (which resulted in a compensationary payment to the charity in recognition of the bank’s failing), the preparation of this Annual Report was significantly delayed. The Trustees are confident that rapiud progress can now be made in bringing the charity’s reporting back in line with the requirements of the Charity Commission whose understanding at this difficult time is much appreciated. ## **Conclusion** In view of the valuable work carried out by IRIS on behalf of the visually impaired community over its 30 years of existence it is sad to see the closure of the IRIS Centre and the loss of services such as low vision assessments and the resource room. However, with the loss of support from the relevant authorities the charity could not continue in its previous form (any attempt to do so would have resulted in a deficit of at least £70,000 each year). Trustees ensured that the charity restructured in an orderly manner, in accordance with charity law, and fully protecting the interests of staff members to whom we place on record our deepest gratitude for their commitment and flexibility. Gwyn Griffiths Chairman October 2025 ## **STATEMENT OF FINANCIAL ACTIVITIES ACCOUNTS 2022-2023** INCOMING RESOURCES 2021-2022 2022-2023 Contract fees and grants (health) 18,547.00 11,045.00 (a) Grants (Covid related) 10,240.67 nil Sale of property nil 128,430.60 (b) Other Income 24,614.66 10,376.89 **TOTAL INCOME 53,402.33 149,852.49** RESOURCES EXPENDED **TOTAL EXPENDITURE 95,445.78 62,951.94 NET SURPLUS/(** _**DEFICIT)**_ **(** _**42,043.45)**_ **87,043.20 Bank reconciliation** Opening balance 1 April 2022 £ 55,750.91 Receipts £149,852.49 Payments £ 62,951.94 Closing balance 31 March 2023 £142,651.46 ## **Notes:** (a) This was a grant offered by the CCG to allow services to be maintained from October 2021 to 31[st] March 2022. In the event it was not received until September 2022. (b) Net proceeds after all selling costs. ## **BALANCE SHEET AT 31 MARCH 2023** ||2021-2022|2022-23|| |---|---|---|---| |**FIXED ASSETS**|||| |Building|60,000.00|nil|Note 2.3| |**Total Fixed Assets**|**60,000.00**|**nil**|| |**CURRENT ASSETS**|||| |Stocks|||| |Magnifiers|4,000.00|nil|Note 2.3| |Aids & Equipment|6,000.00|nil|Note 2.3| |Cash|||| |CAF Bank|53,873.06|1,998.46|| |Lloyds Bank|1,877.85|140,653.00|| |Total cash reserves|55,750.91|142,651.46|| |Less designated funds|35,000.00|nil|Note 6| |“Free” cash reserves|20,750.91|142,651.46|| |**Total Current Assets**|**65,750.91**|**142,651.46**|| |**Total Assets**|**125,750.91**|**142,651.46**|| |Designated funds:|||| |Redundancy reserve|30,000.00|nil|Note 6| |Building repairs reserve|5,000.00|nil|Note 6| |**Total “free” assets**|**90,750.91**|**142,651.46**|| ## **NOTES TO THE ACCOUNTS 2022-23** ## _**1. Basis of preparation**_ ## _**1.1 Basis of accounting**_ These accounts have been prepared under the historic cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16[th] July 2014 and with the Charities Act 2011. The accounts have been produced on an accruals basis. ## _**2. Accounting policies**_ The charity has applied a standard list of accounting policies as follows: ## _**2.1 Incoming resources:**_ - **Recognition of incoming resources.** These are included in the Statement of Financial Activities (SoFA) when the charity receives the resources. - **Incoming resources with related expenditure.** Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SoFA. - **Grants and donations.** Grants and donations are only included in the SoFA when the charity has unconditional entitlement to the resources. - **Tax reclaims on donations and gifts.** Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to which they relate. - **Volunteer help.** The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report. - **Investment income.** This is included in the accounts as Interest. The charity has no investments beyond monies held in bank or building society deposit accounts. ## _**2.2 Expenditure and liabilities**_ - **Liability recognition.** Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources. - **Governance costs.** Details of governance costs are given in section 3 below. - **Support costs.** Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, as summarised in 3 below. ## _**2.3 Fixed Assets**_ - **Stock.** In the past stock was valued at the lower of cost and net realisable value. It has become clear that this gave an unrealistic value to the stock held for the following reasons: IRIS has always prided itself on being able to supply, on demand, appropriate equipment across a wide range of client requirements. This has resulted in large stocks being held with individual items sometimes in stock for an extended period before meeting a specific client need. Technological and design advances can result in stock becoming obsolete as better equipment becomes available. Stock used for demonstration purposes can become worn or damaged thus reducing its potential resale value. The market for reselling other than to individual clients (e.g. to other providers in the charitable sector) is small and specialist. The Trustees determined in 2021-22 that, for the above reasons, it was decided that the true asset value of the stock held (listed at £20,000 at 1 April 2021) was a significantly lower figure and was written down to £10,000 at 31 March 2022. Significant elements of stock (e.g. watches) were sold as part of the process of clearing the property and it is considered that the realisable value is now effectively zero. Any sales that are achieved will be regarded as windfall income. - **Depreciation of fixed assets.** As the charity no longer holds any fixed assets depreciation is no longer a consideration. ## _**3. Support costs**_ Given the very low support costs incurred during the year (the servicing of trustee meetings and the preparation of the Annual Report and Accounts now falls to a Trustee on a voluntary basis) no support costs have been identified. ## _**4. Trustee expenses**_ No trustee expenses were claimed during 2022/23. ## _**5. Paid employees**_ At the 31[st] March 2023 the charity no longer employed any staff. ## _**6. Funds**_ The IRIS Trustees had previously designated £30000 from its reserves as a contingency against staff redundancies in an uncertain financial climate and £5000 as a contingency against future work. Given staff redundancy and the sale of the property neither provision is required. ## **INDEPENDENT EXAMINATION** The Trustees are of the view that an audit is not required under Section 144 of the Charities Act as IRIS does not meet either requirement for audit: Its annual income did not exceed £500,000 Its assets do not exceed £3,260,000. Therefore an Independent Examination meets the requirements of the legislation. ## **STATEMENT OF INDEPENDENT EXAMINER** In connection with my examination of the Report and Accounts 2022-23 no material matters have come to my attention which gives me cause to believe that in any respect: - Accounting records were not kept in accordance with Section 130 of the Charities Act - The accounts do not accord with the accounting records. (signed) (name – printed) (date) [Section 130 requires that Trustees must ensure that accounting records are sufficient to show and explain all the charity’s transactions.]