2023-03-31-accounts - Somerset Sight Limited

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INCORPORATING AN IN	COM	E AND	EXPENDI	TURE ACCOU	NT)
						Total	Total
			Notes	Unrestricted	Restricted	2023	2022
INCOME					f.
Donations and Legacies				101,883		101,883	164,703
Other trading activities				26,963		26,963	35,449
Income from investments				27,177		27,177	25,611
Income from charitable activities				171,045	136,763	307,808	253,339
Other income				8,866		8,866	196
TOTAL INCOME				335934	136763	472 697	479 298
EXPENDITURE
Costs ofraising funds
Costs ofgenerating voluntary		income		10,308		10,308	11,111
Fund raising costs: Cost	ofgoods sold
and other costs				14,860		14,860	17,649
Investment management	costs			1,950		1,950	2,148
Expenditure on Charitable	Activities		7	377,523	173,143	550,666	431,324
TOTAL EXPENDITURE				404 641	173 143	577 784	462 232
(LOSSES)/GAINS ON INVKSTMKNT ASSETS
Realised				(128)		(128)	116
Unrealised				(19,749)		(19749)	2,056
NET (EXPENDITURE)/INCOME		AND	NET
MOVEMENT OF FUNDS FOR THK			YEAR	(88,584)	(36,380)	(124,964)	19,238
RECONCILIATION OF FUNDS
Total funds brought forward				831,504	477,088	1,308,592	1,289,354
Total funds carried forward				742,920	440,708	1,183,628	1,308,592

SAT 31MARCH	2023
			2023	2022
		Note		f.
FIXEDASSETS
Tangible Assets		10	762,691	770,419
Invesnnents		11	210,099	231,962
CURRENT ASSETS
Stocks		12	15,319	20,240
Debtors		13	67,050	116,570
Bank, including money held on deposit			149,242	187,194
			231,611	324,004
CURRENT LIABILITIES
Creditors: Amounts	falling due within one
year		14	20 773	17793
NET CURRENT ASSETS			210,838	306,211
NET ASSETS			1 183628	1 308392
FUNDS
Unrestricted funds
Accumulated funds			339,036	424,020
Designated funds			403,884	407,484
			742,920	831,504
Restricted funds			440,708	477,088
TOTAL FUNDS		15	1,183628	1 308,392

						2023	2022
Net movement in funds for the	reporting		period (as per the
statement offinancial activities)						(124,964)	19,238
Investment income						(27,177)	(25,611)
Depreciation charges						7,728	7,915
Decrease/(Increase) in stocks						4,921	(1,512)
Decrease/(Increase) in debtors						49,520	(65,015)
Increase in creditors						2,980	2,571
Decrease/(Increase) in market value of		investments				19,749	(2,056)
Net cash (used in) operating activities						(67,243)	(64,470)
Cash flows from investing activities:
Investment income						27,177	25,611
Proceeds from sale ofinvestments						12,463	5,089
Purchase ofinvestments						(5,256)	(5,915)
Net cash provided by investing	activities					34,384	24,785
Change in cash and cash equivalents		in the		reporting	period	32 859	39685
Cash and cash equivalents at the beginning				ofthe reporting
period						192,188	231,873
Cash and cash equivalents at the end		ofthe		reporting	period	159329	192 188
Analysis ofcash and cash equivalents
Cash account held in Investments	balance sheet amount					10,087	4,994
Bank, including money held on deposit		per	balance sheet			149242	187 194
						159,329	192,188

Donations and	Legacies	2023	2022
Donations		54,533	36,362
Legacies		39,701	120,817
In memory	donations	1,983	2,809
Tax credits		5,666	4,715
		101 883	164703

Other Trading Activities	2023	2022
Fund raising events	20,731	31,049
Room hire	4,001	2,568
Product sales	2,231	1,832
	26,963	35,449

Income from Investments	2023	2022
Dividends	9,638	9,350
Interest received	1,187	425
Rental income	16,352	15,836
	27,177	25,611

O	RTHE YEAR ENDED 31MARCH	2023
5	Income from charitable activities				2023	2022
					f.	f.
	Unrestricted
	Somerset County Council funding				85,000	85,031
	Grants from Charitable Trusts and	Foundations			13,050	21,800
	NHS —Low Vision Assessments				36,030
	Volunteer visiting service				10,901	8,008
	Resource Room Sales				26,064	30,727
	Total unrestricted income from	charitable		activities	171,045	145,566
	Restricted
	The National Lottery Community	Fund —Reaching
	Communities/Partnerships				90,000
	Grants from Charitable Trusts and	Foundations			33,579	97,485
	Contributions towards activities &services				13,184	10,288
	Total restricted income from charitable		activities		136,763	107,773
	Total income from charitable activities				307808	253 339
6	Other income				2023	2022
	Expenses contributed from volunteers				8,866	196
					8,866	196

				Activities
				Undertaken	Support	Total	Total
				Directly	Costs	2023	2022
							f.
Cost ofraising			funds
Costs of	generating
voluntary			income	621	9,687	10,308	11,111
Fundraising			costs	5,173	9,687	14,860	17,649
Investment		management		1,950		1,950	2,148
Charitable	activities			469,223	81,443	550,666	431,324
				476 967	100817	577 784	462,232
Allocation	of		support costs	Costs of
				Generating
				Voluntary		Charitable	Total	Total
				Income	Fundraising	Activities	2023	2022
					f.			f.
General office				5,301	5,301	42,408	53,010	51,835
Travel				30	30	237	297	860
Independent		examination				3,120	3,120	3,480
Sundry				107	107	859	1,073	1,216
Premises				4,249	4,249	33,988	42,486	31,524
Event costs								2,177
Training						831	831	317
				9,687	9687	81,443	100,817

O	RTHE YEAR ENDED 31MARCH 2023	RTHE YEAR ENDED 31MARCH 2023
8	Net Income/(Expenditure)		2023	2022
	Net income/(expenditure)	is stated after
	charging:
	Independent examiner's	fee	3,120	3,480
	Depreciation -owned assets		7728	7915
9	Staff costs		2023	2022
	Gross salaries		311,823	263,396
	Employer's national insurance		22,799	18,242
	Pension contributions		20,068	13,641
			354,690	295,279

The	charity considers its key management	charity considers its key management	personnel	tobe its	Trustees. No trustee received remuneration	Trustees. No trustee received remuneration	Trustees. No trustee received remuneration
Somerset Sight Limited during		the year.	No trustee was reimbursed			expenses	during the year.
10	Fixed Assets			Land and		Motor
				Buildings	Vehicles		Total
	Cost					f.
	A t1AP1120228 6	133M	02023	812274		24828	837102
	Depreciation
	At 1 April 2022			44,183		22,500	66,683
	Charge for the year			7,140		588	7,728
	At 31March 2023			31 323		23 088	74411
	Net Book Value
	At 31March 2023			760931		1 740	762691
	At I April 2022			768,091		2,328	770,419

11	Fixed Assets - Investments	Fixed Assets - Investments
				Value
	Market value at 1 April 2022			231,962
	Purchases at cost			5,256
	Disposals at book value			(12,463)
	(Decrease) in market	value		(19,749)
	Increase in cash held	for investment		5,093
	Market value at 31March 2023			210099
	Listed on Stock Exchange			200,012
	Cash held for reinvestment			10,087
				210,099
12	Stocks			2023	2022
	Resource room			15,219	20,140
	Fundraising			100	100
				15319	20240
13	Debtors			2023	2022
				f.
	Trade debtors			17,661	5,402
	Other debtors			43,458	102,879
	Prepayments			5,931	8,289
				67050	116570
14	Creditors: Amounts	falling due within	one year	2023	2022
	Trade creditors			9,571	6,685
	Accruals			11,202	11,108
				20,773	17,793

Fund Account -	2023	2023
			Opening			Investment	C!osing
			Balances	Income	Expenditure	Movement	Balances
Unrestricted Funds
General			424,020	335,934	(401,041)	(19,877)	339,036
D~it t
Northfield House
Improvement Reserve			337,156		(3,012)		334,144
Property Maintenance
Reserve			68,000				68,000
MAS vehicle -Capital			2 328		588		1 740
Total designated			407,484	-	(3,600)		403,884
Total unrestricted			831,504	335,934	(404,641)	(19,877)	742,920
~Rt t
Northfield House	Reserve		224,574		(2,016)		222,558
Bradbury Centenary		Wing	206,362		(2,112)		204,250
HPC Community	Fund		12,500	30,000	(30,000)		12,500
Service User equipment			1,000				1,000
Technology training				1,000	(600)		400
Emotional support		services	3,537		(3,537)
National Lottery
Community Fund				90,000	(90,000)
Early intervention				500	(500)
Access to work technology				2,079	(2,079)
Contributions to activities
&services				13,184	(13,184)
Seeing Life Differently
Courses			4,115		(4,115)
Devon &Cornwall
residents			25,000		(25,000)
Total restricted			477,088	136,763	(173,143)		440,708
Total Funds			1308592	472 697	577,784	1987	1,183628

Fund Accounts -	2022	2022
			Opening			Invesnnent	Closing
			Balances	Income	Expenditure	Movement	Balances
Unr tri t Funds
General			409,935	371,525	(359,612)	2,172	424,020
~Digouttes
Northfield House
Improvement Reserve			340,162		(3,006)		337,156
Property Maintenance
Reserve			68,000				68,000
MAS vehicle - Capital			3 108		780		2 328
Total designated			411,270	-	(3,786)		407,484
Total unrestricted			821,205	371,525	(363,398)	2,172	831,504
Restricted
Northfield House Reserve			226,590		(2,016)		224,574
Bradbuiy Centenary		Wing	208,474		(2,112)		206,362
Mobile advisory service			32,085		(32,085)
HPC Community	Fund			30,000	(17,500)		12,500
Children's Activities				1,489	(1,489)
Service User equipment			1,000				1,000
Emotional support	services			13,485	(9,948)		3,537
Early intervention				5,500	(5,500)
Volunteer Visiting	Service			12,500	(12,500)
Adult Activities				8,799	(8,799)
Seeing Life Differently
Courses				11,000	(6,885)		4,115
Devon &Comwall
residents				25,000			25,000
Total restricted			468,149	107,773	(98,834)		477,088
Total Funds			1,289,354	479 298	462,232	2,172	1,308,592

Analysis	ofNet Assets bet	ween Funds
					2023
		Unrestricted	Designated	Restricted	Total
Fixed Assets
Tangible	assets		335,884	426,808	762,692
Investments		210,099			210,099
Current	Assets
Stocks		15,319			15,319
Debtors		67,050			67,050
Bank		67,341	68,000	13,900	149,241
Current	Liabilities
Creditors:
Amounts	due within one
year		(20,773)			(20,773)
Total		339,036	403,884	440,708	1,183,628

20 Comparative figures	for Statement ofFinancial	for Statement ofFinancial	for Statement ofFinancial	Activities
						Total
			Notes	Unrestricted	Restricted	2022
INCOME
Donations and Legacies				164,703		164,703
Other trading activities				35,449		35,449
Income from investments				25,611		25,611
Income from charitable activities				145,566	107,773	253,339
Other income				196		196
TOTAL INCOME				371 525	107773	479 298
EXPENDITURE
Costs ofraising funds
Costs ofgenerating voluntary		income		11,111		11,111
Fund raising costs: Cost	ofgoods sold
and other costs				17,649		17,649
Investment management	costs			2,148		2,148
Expenditure on Charitable	Activities		7	332,490	98,834	431,324
TOTAL EXPENDITURE				363398	98 834	462 232
GAINS ON INVESTMENT	ASSETS
Realised				116		116
Unrealised				2,056		2,056
NET INCOME AND NKT MOVKMKNT
OF FUNDS FOR THK YEAR				10,299	8,939	19,238
RECONCILIATION OF FUNDS
Total funds brought forward				821,205	468,149	1,289,354
Total funds carried forward				831,504	477,088	1,308,592