Somerset Sight Working with people who lack slght, not vislon SOMERSET SIGHT LIMITED (A company limited by guarantee) Unaudited Annual Report and Financial Statements for the year ended 31 st March 2025 Registered Charity Number 1154472 Registered Company Number 08432686 The Queen's Award for Volvntary Servic•
Somerset Sight Limited Northfield House 51 Staplegrove Road Taunton TAI IDG Telephone: 01823 333818 Website: www.somersetsight.org.ulc Our mission statement 46 Somerset Sight Limited supports visually impaired people in Somerset so that they may lead fuller and more independent lives. ?y
Somerset Sight Limited IRegister¢d company: 08432686) Trustees, Annual Report for the Year Ended 31 March 2025 Legal and Adminlstrative Information The Trustees are pleased to present their Atmual Report together with the financial stat¢m¢llts of the charitable company for the year ended 31 March 2025. The financial statements comply with the Memornndum and Articles of Association. and 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 IFRS 102) issued October 2019 - (Charities SORP FRS 102) the Financial Reporting Standard applicable ill the United Kiugdom and Republic o£Ireland (FRS 102) and the Companies Act 2006. Charity Details Somerset Sight Limited is a ¢ompally limited by guarantee (08432686) and a registered charity (1154472). The registered office and address of the chlty is Northfi¢ld House, 51 Staplegrove Road, Taunton, Somersct TAI IDG. The Patrons of the charity, together with the trustees who served during the year and those who have been appointed since the balance sheet date, were as follows: Patrons: Count Cknles de SaIis Lady Elizabeth Gass DCVO Mr Mohammed Saddiq, I.OTd Lieutenant of Somerset (appointed I l April 2024) Rt. Revd. Ruth Worsley, Bishop of Taunton DlrectOTS and Trnstees: Mr Paul Fellingham (Chairnian) Mrs Christine Briggs (Vice£hairn)an} Mr Ian Pinder (Trcaswer) (resigned l March 2025) Mr Zdenek Gregor Mr Nicholas Ham Dr Sarah Chen Mr Jonathan (Johnnie) Halliday Ms Sarah Tufton Ms Anna Blake Mr John Wright Mr Richard Barton Chief Executive Officer Jackie Sopwith Independent Examiner of the Accounts: Michael Cook Bse FCA, A C Mole LLP, Chartered Accountants, Stafford House, Blackbrook Park Avenue, Taunton, Somerset T Al 2PX .Investment Managers.and. StocIibrokers: Rowan Dartington & Co Ltd, Aintree House, Blackbrook Park Avenue, T&unton TAI 2PX Principal Bankers: Lloyds BanL Taunton
Structure, Governanee and Management Since 1919 SomeTset Sight Limiled, and its predece880r orgauisation Somerset Association for the Blinl have been helping the visually impaired people of Somerset to live Rs independently as possible. The Objects of the Charitable Company Somerset Sight Limited exists to provide benefits for the visually impaired residents of Somerset. In accordance with our Constitution we provide for their needs, promote and protect their health and promote their education and training. Our Mission Statement can be seen on the inside cover of this report. Alms Somerset Sight Limited aims to meet the needs of the visually impaired in Somerset and their carers to th¢ Ilest extent possible within the constraints of the funding and resources available to us. The Trustees aim to manage the charity's r¢80urc¢s responsibly and in such & way that the greatest value is provided to our beneficiaries. Membershfip Memb¢rsl]ip of the company is by applA¢atioll to the office iu)d will involve a gLwantee for a contribution of £1 O in th¢ ¢vent of a shortfall in asscts on winding lip. Dtrectors and Trustees Th¢ directors of the charitablc company ('%hc charity,? are its Trustees for the purpose of c17ty law and throughout this report are collectively referred to as the Trustees. The names of the Trustees who served throughout the year and the principal officers of the charitable company are showll on page l. The Trustces have a yuitably wide range of skills and experience which is reviewed peri(xlically by internal audit. They are either elected at the Annual General Meeting or co-opted. Two Trnstees have visual impaimients allowing them to provide particularly relevant experience to the Board. The Board of Trustccs recognisGs that as the range of services provided by SoMe¢t Sight Ltd increases it will be necessary to recrLUt new Trnstees who have skills and experience not currently rcpresented. The Trustces acknowledge th¢rcforc that the work to identify new skills and experience among potential new Trustses is now more important than ¢v¢i". The Board of Trustees also recognises the need for all Trustees to be properly trained and inducted. Viswdl Awareness Training and other relevant courses are offered and induction prOaMme8 followed. The Trustees meet regularly and at least six times per year to agree strategy and to oversee the management of the Chwitable Company, The day to day wnning of the charity is delegated to the Chief Executive Officer and the other officers of the charity who report regularly to the Trustees. Public Benefit Our services are directed towards the blind and partially sighted people in Somerset. For the general benefit of the public, we aim to respond to the needs of anyone with sight loss whether or not they are registered as blind or partially sighted. Our Resource Ccntrc, which is central to the charity's worL is available to thc general public whether or not they are visually impaired. While we ar¢ a membership organisation it is not necessary to be a member to benefit from the CharAty'8 SUPPOrt, The Trustees have paid due regard to the Chlty Commission guidance on public benefit in deciding what activities the charity should undertake.
Achievements and Perforniance "Coming to Somerset Slght has been a breath of fresh air and has completely changed my Dad's life" Somcrset Sight provides the most appropriate service18 and inforniation for every person and their families, who comes to Ug with sight loss. No one size fits all. Many people have multiple and complex needs, hearingi dexterity and mobility impairnients, short temi memory loss, mental health difficulties and many live alone without family close by, 800/0 are over 75 yearg Qld. Somersct Sight offers a range of seryices to enable people to remain independent, make the best use of their remaining SAght, enjoy health and well-being, and live as full a life as po88ible. Our t¢lephone is answered by a human and where possible our services are face to face- this is the preferred delivery for service users who are blind (n visually impaired, The number of people coming to us for help continues to steadily rise and now amounts to more than 1,500 each month. 50 people with a more recent diagnosis whilst 1,450 are existing customers - people who regularly acce&s the Resource room, the Mobile Advisory Servic¢, technology support, the volunteer visiting service, emotional 8UPPOrt, attend regul monthly face to face soctals, activities and events or training &nd have talking books. This range aud depth of services is a huge undertaking and an enornious benefit to the community. It requires the dedication of staff and volunteers alike. "Oh Joann¢, l am SO impressed by Somerset Sight, I really am. The IuLowledge I now have that I can find new ways of doing thillgs bcfore my 8ight gets radically worse has been a godsend. I'd bought loads of magnifiers of different types. all arc rubbish, with everything staying blurry though bigger! But the illuminated ones Julie has loaned me ar¢ fantastic. I'm also encouraged to lalow there arc and witl be new ways of Usillg tech, and I have bought a little stick and badges to help me get around more safely when out and about in unfamiliar places. Thw]k you all so much for literally brightening my life!?? We are fortunate to have 12 members of staff, 4 of whom have the lived experience. Feedback shows that spe&king to people with lived experience encourages those with sig]It loss to talk more freely abolit the difficulties they face, to share stories and feel less alone. Of our 300 + volunteers, 801 have sight loss. Volunteers Say they enjoy being able to give back and support others less fortlmate. Our volunteers provide more than 2,000 hours of quality support each month. Through the Low Vision service, people learn about their condition, how to manage it and are loaned the magnifier/s which best suits th¢ir condition, This can dramatic&lly imprnve their independence end wellbeing and their ability to manage their sight loss. ReferraIs come from many different sources and professionals, and many self-r¢fcrrnls WTIVC from the Mobile Advisory Service, at Northfield House or by phone. All our services are integratcd so everyone receives holistic support, irrespective of Iheir first point of contact. We offer training sessions for local optometrists, clinic staff, OTS and other professionals so they know how to refer and the seryices available. It 18 beneficial for people to be referred to Somerset Sight at the earliest opportunity, We produced a video, designed to support care staff, which highlights the difficulties that may be encountered if you have sight loss, and how they can assi8t. In early July the High SherAff of Somorset,, Mr Rob Be¢kley, kindly presented long service awards at our annual volunteer party. Three volunte4rs' rec¢iv¢d awards for l O years, service, 6 awards w¢re made for 5 years, service and 17 people received Special Recognition Awards, including memb¢rs of our very successful Acoustic Rifle Shooting club. We Continue to expand our Social groups. These are very well attended and much enjoyed. Many are led by those with visual iii]pallménL Socials create and build their own dynamic. Many social groups arrange their own trips out, to the seaside, lunch or to a local garden and this enables people to upslall, build conFid¢nce and elljoy more activities and days out, Somerset Sight now has 12 monthly social 0upS across the county, W¢ also expanded our warm spaces, and cook and share. to provide additional support during tlie winter months.
Our activities have included fraud protection, pantomime, carriage driving, Somcrsct Riiral Lif¢ Museum, Cider making, bowling, sailing and the ever-popular driving experience. Aclivities for children have included family sports, high ropes. cookery, Chri8tina8 Panto alld Sailing on Wimbleball Lake. The Resource Room in Taunton is well visited and 2 successful technology days have encouraged more people to investigate specialist items available. The Mobile Advisory Service travels the county and is out every week day. offerillg information and advice, gadgets, magnifiers, lighting and other specialist equipment. The annual holiday was to Tenby- 22 people enjoyed the couple of nights away. The town is very picturesque, and we all enjoyed the beach walks, and especially the boat trip to Caldey Island where we were able to catch sight of red squirrels. We were joined by some younger members too - they encouraged some of the older members to make full use of technology available a88iSting with apps and other helpful tips. On¢ person said ' I made so n]any new friends and have done many more things and feel much more confident Since making that first effort. I would encourage other people to take part in all that Somerset Sight offers., People need help with their teclmology as they Can easily get in a muddle. We offer help at all points of Contact so people can leam and make use of what is available and learn new tricks to ¢nhanc¢ their con)munication. Our technology support 18 designed to assist people to maximise the use of thcir existing phone, tablet alld iPad to make the best use of their inbuilt accessibility rather than necessarily purchasing new. We are able to download suitable apps and syncronis¢ devices to create the support required by each individual. Our emotional support service is much sought after and is a hugely powerful service. Not only is our practitionei" Graham able to help reduce anxiety and depression but he can also help in many other ways by encouraging people to challellge themselves, build confidence and make the most of their remaining sighl. The Voluntcw Visiting Service assists so many people who are elderly and live alone. We know that 97 /0 of elderly people would prefer to remain in their own home and thts service, together with our tccl]nology support, talking books and oth¢r specialist services, enables that to happen. The constant challenge for the volunteer visiting s¢rvi¢e is recruiting new volunteers. We are fortunate to have recruited some wonderful new volullt¢cr8 this ycar and I would likn to thank all our volunteers, new and old. for all they do. All these services require funding and whilst we are fortunate to enjoy the support of many service users and their families, volunteers, local people and companies, Trusts and Foundations, fLmding is a peiEnni&l and inevitable challenge. Dining in the Dark held in August 2024 was a Trustee led initiative and a hugely successful cvening raising just over £ l 0,000 for the Charity. We are indebted to the Blake Family who very generously provided the venue and to all those who attended or supported the evening. Not only does Dining in the Dark raise &weneSS of the difficulties of sight10sS It also enables people to enjoy a delicious dinner with good company whilst raising funds for a very worthy cause. We are very grateful to our llumerous spon80r8 who supported the evening. Finances are always challenging biit this yeor has been particularly so. Demand for seNices rise, statutory seice8 decline and statutory financi support remains stubbornly unchanged. What Can be done? Somerset Sight continues to increase productlvity and make improvements to systen)s and processes taking advanlaBe of technological developments for cost savings. Our service users are some of the Lnost vuliierable people in our community and deserve and iely on our services which are life long and we continue to provide services face to face whenever possible. This year has seen the retirement of Ian Pinder our Treasurer of l O yeais. I would like to thanlc him for his untiring support, energy and enthusiasm over the years, and we wish him a very long and happy retiremenL Richard Bott hak kindly atsed.to be¢oine our rieiv Treasurer.
Funding support We would like to thank our many generous funders. Without the support of thes¢ organisation and all those people involved with them, we would not be able to do a fraction of what we do. In particular, we arc very grateful to the National Lottery fund - Reaching Communities / PtnershIpS prOgnMe which awarded Somerset Sight a five-year grant starting from 2022123. More information on this is given in the Financial Review section below. Grants h&ve been received from: The National Lottery Community Fund The Garfield Weston Foundation Fairfield chitable Trust Sherborne Classic Cars CIC Hinkley Point C Somerset Community Foundation - Help through wint¢r The Masonic Charitable Foundation Somerset Council In addition, there are several other signAficant donor8 who wish to remain allonymc>us and we are equally grateful to them'for their valuable contributions to our work. Northfield House Northfield House is the headquarters building for Somerset Sight, It has been adaptsd and decorated to facilitate those with sight impairni¢llL It not only hDus&s our resource celltre. but it also provides meeting spices for training Sessions, support groups and social activities. The garden 18 used for social events and contains a productive raised vegelabl¢ and flower area. Surplus office space and car parking spaces are Iet out to produce income for the charity. Northfield House ties up a considerabl¢ amount of the charity's funds biit the Tru8tef% bclA¢ve that ownership of the building provides the charity with a fArst class resource and training centre at minimal cost. Outlook for th¢ Futur¢ Som¢rsct Sight will continue to work ill partnership with statutory and other bodies in order to provide the best possible range of support, with no waiting list, foi" those in our county with visual impairment. It is well evidenced that early intervention provides the best and most sustainable outcomes. SDmerset Sight is determined to maintain capacity in order to provide timely assistance to all those with visiial impaitTncnt who coiild b¢nefit from siipport. The financial climate is presenling challenges, Our beneficiaries are becoming more complex. Demographics dictate that the number of beneficiaries will continue to risc. Thc Charity will continue to offer a range of s¢rviGes to best fulfil the needs of beneficiaries. Cost savings will be made where appropriate. We will continue to seek contributions for Some services. We anticipate choppy waters ahead. Strategic Re.vieiv Somerset Sight is working towards a sustainable .funding model. We_ will CODtinue to.doyelop. new cost- effective strands of fundraising on which to draw. We would like to thanlc everyone who has generously made donations and supported our various fundraising initiatives. The Trustees hold an annual Away Day to review and updats strategy. We consult with external expfflts a8 appropriate. SOmeet Sight will continue to provide a range of services for all ages and add capacity where needed and as ndIng allows.
Financial Review Somerset Sight supports an increasing number of people needing help for their sight 1088 and is the only organisation in the County providing immediate practical and emotional support for people who are blind or suffer sight loss. Funding this provision is increasillgly challenging. Somerset Sight is, however, a nimble fundraiser and will prevail, We are fortLmate that many kind and generous individuals, local group8, and charitable Trusts and Foundations, and local businesses, continue to support our work for which we are immensely grateful and without whom we simply could not manage. We are also Fothmate that many people come forward to volunte¢r to support the chlty - they feedback that they enjoy it as much as the beneficiaries themselves. Our annual income tluctuat¢s cotL8iderably however, we continue to billId more regular and predictable income streams for the future through regular giving, trustee initiatives, charges for some services, in memory donations and letting income from the building, We fortLate to have been able to extend the kitchen facilities in 2025 which will allow even greater autonomy and sustainability. Over the past 3 years room hire income ha8 illcreased threefold. We are very grateful to our funders who 8UPPOrted our ¢arly drive towards sustainability. We are, as are many charities, increasingly reliant Dn income from legacies and gifts in wills. We are very grateful to those generous people who make provision for our fLittire in this way. Many who have had long term supporl frozn Somers¢t Sight wish to show their gratitude alld do their part to ensure the Charity thrives attd we do our utmost to encourage those who wish to, to siipport us. Unrestiicted income enables the Clwity to continue to offer the rnnge and depth of services to suit the needs of our beneficiaries. We are also ablc to remember those people who have generously supported us. In 2023124 we enjoyed legacy income of £187,371, a SAgnificant increase oll the previous year of £39,701. This year legacy incom¢ has amounted to £14,753. These fluctuations in income are difficult to predict. however, we are fortunate to have reserves on which we can draw and some sources of regular income, The charity's free unr¢stri¢ted reserv&s as at 3 1st March 2025 amounted to £411,31 O. Excluding the LVA contract (funded by NFIS) cost of sales, 8elf-till]ding activities and depreciation the total expenditure budgeted for 2025126 amounts to approximately £525,000 which would me8n free reserves represents just over 9 months of expenditure. Reserves Poliry A charity's reserves fund the working capital required to meet its liabilities a8 they fall duc and to fd gaps between cash receipts and payments. In additioffj reserves are held to cover periods of fluctuating income, to rneet unforeseen costs and to fll]allce new initiatives. Somerset Sight Ltd is fortunate to own the freehold of its headquarters building, Northfield House. Ownership of the property provides the charity with stability, rooms to display resources and space for our support work and for social events which are njn for the benefit of 8ervice users. However, the propety ties up a large part of the charity's ieserves which are llot therefore available for other purposes. Our policy is to hold free unrestricted reserves equivalent to a minimum of nine months revenue expenditure, Inves(ment Policy The Trustees adopt a medium risk investment policy, maximising income while maintaining the valu¢ of the investment portfolio for the longer term. This policy is rcviewed from time to time with the advice of our investment managers. Funds not required to cover immediate expenditure are invested in accordance with this policy under discretionary management arrangements.
Risk Mallagement The Trustees have examincd th¢ major business and operntions risks faced by Somerset Sight Limited and confim] that these i'isks are regularly reviewed and action 18 takcn where neccssary. Grant5 Policy Somerset SightLimited is willing t() consider applications for grants to assist blind and partially sighted service Users within the county, either individually or within a club, with the purchase of equipment and to a5SiSt with other essential expeiises. Application8 are made on behalf of service users by SOCI Workers and conside1 by the Ttees. Thanks Somerset Sight is fortunate to have many loyal, encrgetic alld experienc¢d supporters and voluntcers throughout the county, Wh¢ther they are sight impaired, carers, staff, volunteers, [ldraiser8, donors or prnfessionals, they all contribute to the work of this local charity of which we e most proud. Wc colltillue to develop our seryiG¢s and the participation and dedication of our supporters and volunteers is so very much needed and appreciated. We would like to take this opporiimity to offer our sincere thanks to all those who have been actively involved with us. We would also Aike to thank those who have Contribut so generously to our marnthon fundraising teams, led by Trustee Zdenek GIegoi, and also to those who have raised money for us through various other events. Statement of Trustees, Responslbilities The Trnstees (who are also directors of Somerset Sight Limited for the puryoses of company Iaw) are responsible for preparing the Trustees, Annual Report, IncoOratillg the Directors, Report, and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (Unitcd Kingdom Generally Accepted Accountillg Practice). Company law requires the Trustees to prepare Financial Statements for Cach financlal ycar which give a true and fair view of the stste of affairs of the Charitable Company and of the income and expenditure of the Charitable Company for that period. Ill preparing thoge Financial Statements the Trustees are required to., Select suitable accounting policies and then apply them consistently. Observe the methods and principles in the Charities SORP. Malce judgements and accounting tiMateS that are reasonable and pnident. State whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the Financial Statem¢llts' and Prepare the FinanLial Statements on the going concern basis unless it is inappropriate to presume that the Charitable Company will continue in business. The Trustees are responsible for maintaining proper accoulltillg records that disclose with reasollable accuracy at any time. the fiAanGial position of th& Charitable Company,- and enable them to en8iir&.th&t the financial statemeiits comply with the Compl1¢8 Act 2006. They are also responsible fot safeguarding the assets of the Charitable Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. This report has been prepar¢d in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by th¢ Trustees on 16 October 2025 and signed on their behalf by Paul Fellingham Chair Christine Briggs Tiiistee
Independent examiner's report to the trllstees of Somerset Sight Limited (the Company) I report t() the clwity tsvstees on my examination of the accounts of the Company for the year ended 31 March 2025. Responsibilities And basis of report As the charity's tte¢S of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordallce with the requirements of the Companies Act 2006 {'the 2006 Act,). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity, accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). tn caffying oiit my examlnation I have followed the Directions given by the Charity Con]mission under section 145(5) (b) of the 2011 Act. Independent examlner's statement Since the Comp8ny's gross income exceeded £250,000 your exarniner must be a member of a body listed in section 145 of the 201 l ACL I confm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirni that no uwttcrs have come to my attention in connection with the exemination giving me cause to believe,, accounting records were not kept in respect of the Conwany as required by section 3 86 of the 2006 2. the accounts do not accord with thosc r¢cords' or 3. the accounts do not comply with the accounting rcquiremcllts of section 396 of th¢ 2006 Act other than any requirement that the accounts give a 'true and fair view, which is not a matter consid¢red as part of an independent examination. or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recomm¢nded Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordan¢e with the Financial Reporting Standard applicable in the UIC and Republic of Ireland (FRS 102)]. I have no concerns and have come across no other mattrs in connection with the examination to which attention should be drawn in ttLiS report in order to enable a proper understanding of the accounts to be reached. Michael Cook Bsc FCA A C Mole LLP c.hartered Accoutstants Stafford Flouse Blackbrook Parl<-Avenue Taunton TAI 2PX Date 26 November 2025
SOMEI RS1 T SIGHT LIMITED (Regi8tered Gompany: 08432686) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 NCORPORATING AN INCOME AND KXPENDII'URE Accouwr) Total 2025 Total 2024 Notes Unre8tricted RestTlCted INCOME Donations and Legacie8 Other tradillg activities Income from investments In¢ome from charitabl¢ activities Other income 79,102 27,895 33,021 252,838 7,359 79,102 255,096 27,895 18,650 33,021 30,259 428,769 356,892 7,359 8,503 175.931 TOTAL INCOME 400 215 175 931 576,146 669,400 EXPENDITURE Costs of raising funds Costs of genernting voluntary income Fund raislng Losts: Cost of goods sold and other costs Investment management costs 16,708 16,708 13,722 35,955 1,885 35,955 1,885 22,375 1,704 Expenditure on Charitable Activities 412,917 181,028 593,945 527,721 TOTAL EXPENDITIJRE 467 465 181,028 648,493 565 522 GAINSI(LOSSES) ON IIWESTMENT ASSETS Realised Unrealised 8,903 1,503 8,903 1,503 {523) (3,130) NET (EXPENDITURE)IINCOME AND NET MOVEMEIYT OF FUNDS FOR THE YF,AR (56,844) (5,097) (61,941) 100,225 RECONCILIATION OF FUNDS Total funds brought folward 855,758 428,095 1283,853 1,183,628 Total funds carried fonyard 798,914 422 998 1,221,912 1,283,853 The notes on pages 13 onwards forni p&rt of the fllydncial statements. Accounting polici¢s ar¢ set out in note 10
SOMERSET SIGHT LIMITED (Registered company: 08432686) BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Nots FIXEI D ASSETS TEgible Asscts Investments io 747,547 213,260 755,119 204,705 ctlliRENT ASSETS Stocks Debtors Bantc, includlng tnoney held on deposit 12 13 26,349 36,203 223,429 24,737 27,072 306,128 285,981 357,937 CURREIYT LIABILITIES Credito. Amounts falling due within one 14 NET CURRE ASSETS 261,005 324,029 NET ASSETS 1221912 1,283,853 FUNDS Unrestricted funds Accumu14t¢d funds Designated funds 411,310 387,604 455,318 400,440 798,917 855,758 Restricted funds 422,998 428,095 TOTAL FUNDS 15 1,221,912 1283 853 For thc year ended 31 March 2025, the Company was elltitled to exemption from aiidit under Section 477 of the Companies Act 2006 relating to small companies. The members have not required the Company to obtaill an audit of its financial statements for the year in question in accordance with Sectloll 476. The directors acknowledge their responsibilities foi complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These FanCial statcm¢nts have been prepared in accordance with the provisions of Part 15 of the Compani&s Act 2006. relating to snulL compani£s. The notes on pages 13 to 26 fomi part of the financial statements. Approved by the Trustees on 16 October 2025 and signed ott their behalf by: Paul Fellingham Chair Christine Briggs Tntee cxaM6,
SOMERSET SIGHT LIMITED (Registsred company.. 08432686) STATEMEIYT OF CASHFLOWS AS AT 31 MARCH 2025 2025 2024 Net rllovemellt In funds for the reportlng pe0d (as per the statement of financial activities) (61,941) 100,225 Investment income Depreciation charges (Increase) in stocks (Increase)IDecrease in debtors (Decrease)/Increase in cr¢ditors (Increase)/Decrease in mket value of investments (33,021) (30,259) 7,572 7,572 (1,612) (9,418) (9,131) 39.978 {9,032) 13,135 (8,903) 3,130 Net cash {u5ed in)Iprovided by operatillg activill&s (116,068) 124,363 Cash floTrvs from investing aclivities: Investment income Proceeds from sale of investments Purchase of investments 33,021 30.259 17,212 11,701 (18,320) (15,969) Net cash provlded by investlng actlTrltfies 31,913 25,991 Change in cash and cash equivalents fin the reporting period 150 354 Cash and cash equivalents at the beginning of the reporting perlod 309,683 159,329 Cash and cash equivalents at the end of the reporting period 225,528 309,683 Analysis of cash and cash equivalents Cash account held in Investments balance sheet amount 2,099 3,555 Bank, including money held on deposit per balance sheet 223,429 306,128 -225 528 309,683 12
SOMERSET SIGHT LIMITED (Resisl¢r¢d ¢ompany: 08432686) NOTES TO THE FINANCIAL STATEI MENrs FOR THE YEAR ENDEID 31 MARCH 2025 Accounting Policies The principal accounting policies adopted in the preparation of the financial statements are as follows: a) Basis of Preparatlon These Financial Statements have been prepared in accordance with Accounting and Reporting by Charities., Statement of Reconrnended Practice applicable to charities preparing their accounts in .accordance with the Financial Reporting stdard applicable in the UK and Republic of Ireland (FRS 102) (issued October 2019}- (Charities SORP {FRS 102)) the Financial Reporting Standard applicable in the United Kingdom and R¢public of Ireland (FRS 102) and the Companies Act 2006. The financial statements have been prepared under the historical cost convention with the exception of listed investments which are included at their market value. The charlty constitutes a public benefit entity as defined by FRS 102, b) Preparation of the Accounts on a Golng Concern bAsis The Trustees consider that there are no matfflial uncertainties about th6 Charity's ability to continu¢ a8 going concern. c) Income Recognition Income is included in the Statement of Financial Activitics when the charity is legally entitled to the income and the amount can be quantified with reasollabIe accurdcy. Donations recognised in the Statement of Financial Activities in the period in which they are received. Legacies ar¢ recognised at the earlier of the dllte that: eitherthe Charity is aware that probate has b¢en granted, the estate has been findised llnd notification has been made by the executor(s) to the Trust that a distrAbution will be made. or when a distribution is received from the estate. Income from grants, contracts and governmcnt grdnts 18 recols¢d when the Charity has cntitlement to the funds, any perforniallce conditiolls attached to the grants have been met, it is probable that the income will be received and the amolt can be measured reliably (a is not deferred. Investment income is recognised in the period in which it is receivable. Gains and1088es on investments are recognised: as unrealised gains when revalued at each year end or as realised 8.ains if sold durillg. the year. 13
SOMERSEI T SIGHT LIlWItTED NOTES TO THE FIIYANCIAL STATEMENTS FOR THE YEARENDED 31 MARCH 2025 l Accounting Polici¢s (continued) d) Expenditure Recognition Expenditure is recognised once there is a legal or constructive obligation lo make a payment to a third paty, it is probable that settlement will be required and the amount of the obligation can be measured relÉably. The charity is not registered for VAT and irrecoverable VAT is charged as part of the expense to which it relates. Expenditure is included in the Statement of Financial Activlties on an accnials basis, Costs attributable directly to a particular project are charged against the relevant fijnd. All costs not specifically attributable to a particular project are charged on a percentage basis to the various activities of the charity. e) Flxed Assets - Tanglble Assets The freehold land and building are included at cost, together with the c08ts of purchase and of initial repairs, renovations and ongoing alterations. Ongoing repairs are not capitalised. Freehold land is not depreciated, The freehold building is depreciated at l O/¢ Straight line per annum, bcing based upon an estiat¢ of its cxpected useful life. The motor vehicle 18 depreGiat¢d at 25 % per aDnum on a reducing balance basis. The cost of office equipment is not capiialised and is treated as all cxpcnsc irL the year of purchase. O Fixed Assets - Investments Fixed Asset Mvestments at? included in the Balance Sheet at market value. Stocks Purchased Stocks are valued at the lower of cost or net realisable value after rnaking due allowance for any obsolete or slow-moving items. h) Cash at Ban1< and 5n Hand Bank balances in¢lude cash and short terni deposits held in instant access bank accounts. i) Pension costs Th¢ chltY nke8 cotttributions to defined contribulionperision schetyies on behalfofremployees, ivhich involves payment of Colltributions inlo employees, personal pcnsion schemes. The assets of these schemes are held separately from the charity in independently administered schemes. The amount included in the Statement of Financial Activitie8 reprents the contributions payable to the schemes in respect of the accounting perio(L 14
SOMERSET SIGHT LIMITED NOTES TO THE FINANCIAL STATEIIqENTS IOR THE YEAR ENDED 31 MARCH 2025 j) Fund Accounting Funds held by the Charity are,, Ullrestricted Gerieral Funds - these are fimds which van be used in accordance with the charitable company's objects at the discretion of the Trustees. Designated Funds - these are funds set aside by the Trustees out ofiinrestricted general funds for specific future purposes or projects. Restricted Funds - these are llds that can only be used for particular restricted purposes within the objects of the Charity. Restrictions arise when specified by the donor or when funds are raised for p&rticular restricted purposes. k) Finaneial Instruments The charity only has financial assets and liabilities that qu&lify as basic fmancial instruments. Basic financial instrnments air recognised at transaction price and subsequently measured at their settlement value with the cxception of investments as noted above. l) Crfitlcal Accounting Estimates and Judgements The pr¢paratÈon of the fillancial statements in ¢onfomiity with FRS 102 requires the trnstees to make judgements, estimates and assu]nptions that affect th¢ application of policies and lh¢ amounts recognised in the financial statements, The trnstees are of the opinion that there are no estimates or assumptions that h&ve u significant risk of causing a material adjustment to the canying amoiint of ass¢ts and liabilities within the next y¢ar. 15
SOMERSET SIGHT LIIVllTED IYOTEI S TO THE FINANCIAL STATEMENTS OR THE YEAR ENDED 31 MARCH 2025 2 Donations and L¢gacies 2025 2024 Donations Logacies In memory donations Tax credits 46,510 56,092 14,753 187,371 16,395 6,007 1,444 5,626 79,102 255,096 All donations and legacies were unrestricted in both 2025 and 2024. Other Trading Activities 2025 2024 Fund raising events Room hire Product sales 12,830 13,489 1.576 8,204 9,289 1,157 27,895 18,650 All income from Other Trading Activities was unrestricted in both 2025 and 2024. Incotne from Investjnent 2025 2024 Dividends Interest received Rental illcome 10,669 10,021 5,698 3,608 16.654 16,630 33,021 30,259 All Income from Investments was unrestricted in both 2025 and 2Q24. 16
SOMERSET SIGHT LIMITED NOTES TO THE FINANCIAL STATEMLNTS FOR THE YEAR ENDED 31 IklARCH 2025 5 Income from charitable activities 2025 2024 Unrestricted Somerset Council fidIng Grants from Charitable Trusts and Foundations NHS - Low Vision Assessments Volunteer visiting service Resource Room Sales 85,000 85,000 43,000 13,500 81,914 56,851 15,035 10,590 28,289 23,137 Total unrestrActed Ancome from charitable activAties Restricted The National Lottery Community Fund- Reaching Communities/Partnerships Grants from Charitable Trusts and Foundations Tile Appeal Donation Contributions towards activities & services 252,838 189,078 75,000 70,000 80,875 80,750 1,431 4,415 18,625 12,649 Total restrActed Income from charfitoble aethtIeS 175,931 167,814 Total income from charitable activiti 428.769 356,892 6 Otherillcome 2025 2024 Expenses contribiited from voluntecrs 7,359 8,503 7,359 All Other Income was unrestrlcted in 2025 and 2024, 17
SOMERSET SIGHT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THEI YEAR EI NDED 31 MARCH 2025 7 Lxpenditure Activiti¢s Undertaken Directly Support Costs Total 2025 Total 2024 Cost of raising funds Costs of generating voluntary income Fundraising costs Investment management Charitable activities 4,395 23,642 1,885 489,531 12,313 12.313 16,708 13,722 35,955 22,375 1,885 1,704 593,945 527,721 104,414 519453 129,040 648,493 565,522 Allocation of support costs Costs of Generating Voluntary Charitable Income Fun(traising Activities Total 2025 Total 2024 Gelleral office Travel Independent examination Sundry Premises Training 5,830 727 5,830 727 46,635 5,814 4,510 1,572 44,471 1.412 58,295 7,268 4,510 1,966 55,589 1,412 39,677 1,230 3.354 1,309 53,721 12 197 5,559 197 5,559 12,313 12,313 104,414 129,040 99,303 Gcneral office costs that are not directly attributable to a specific activity have been aIloc&ted on a percentage basis between cliaritable activities {800/o), fundraising Costs (IOL/¥o), and cost of generating volltary income (I OV/o). 18
SOMERSET SIGHT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEIIR ENDED 31 MARCH 2025 8 Net Incomel(Expenditure) 2025 2024 Net incom¢/{expenditure) 18 Stated after charging: Independent examin&s fee Depreciation - owned assets 3,594 3,354 9 Staff costs 2025 2024 Gross salaries Employer's national insurance Pension contributions 350,917 316,261 32,774 23,689 16,400 19,916 400,092 359 866 The avcrage number of employe working for Somerset Sight Limited during the year was 13 (2024.12) which includes both full-time and part.time employees, No employee received remuneration of over £60,000. The number of employccs whose emoluments fell within the following band was., 2025 2024 £60,000 - £70,000 The charity considers its key manag¢ment pcrsonncl to be its Trustees. No trustee received remun¢ration from Somerset Sight Limited during the year. No trustee was reimburscd expenses during the year. 10 FAxed Assets Land and Buildings Motor Vehicl Total Cost As at l April 2024 and at 31 March 2025 812 274 837,102 Depreeiation At l April 2024 Charge for the year 58,463 7,140 23,520 432 81,983 7,572 At 31 March 2025 89,555 Net Book Value At 31 March 2025 746,671 876 747 547 At l A1] 2024 753,811 1,308 755,119 19
SOMERSET SIGHT LIMITED NOTE,61 TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 11 Flxed Assets - Investments Value Marlcet value at l April 2024 204,705 Purchases at cost Disposals at book value Increase/(D¢¢r¢ase) in market value {Decrease) in cash held for investment 18,320 (17,212) 8,903 (1,456) Market value at 31 March 2025 213 260 Listed on Stock Exchange Ch held for reinvestment 211,161 2,099 213 260 12 Stocks 2025 2024 Resource ron, MAS, and LVA Fundraising 26,249 ioo 24,637 100 24,737 13 Debtors 2025 2024 Trade debtors Other debtors Prepayments 30,359 1,444 4,400 19,681 2,860 4,530 36,203 27,072 14 Creditors: Amounts falling due within one year 2025 2024 Trade creditors Other Creditors Accnials 7,084 9,492 5,583 18,833 17.792 24,876 33,908 20
SOMERSET SIGHT LITrifiED NOTES TO THE FINANCIAL STATEMENTS FOR THE YLAR ENDED 31 MARCH 2025 15 Fund Accounts- 2025 onIng Investment Balances Income Expenditure Movement Closing Balances Unre8trieted Funds Gclleral 455,318 400,215 (454,629) 10,406 411.310 Desl nated Northfield House Impi'overnent Reserve Property Maintenance Reserve MAS vehicle - Capital Total designated 331,132 (3,012) 328,120 68,000 (9,500) 324 (12,836) 58,500 984 387,604 400,440 Total llnrestrlcted 855,758 400,215 (467,465) 10,406 798,914 Restrlcted Northfield House Reserve Bradbury C¢nienary Wing HPC Community Fund Servic¢ U8¢r equipment Nutiojjal Lottery Community Fund Contributions to activities & 8erviccs Tile Appeal Early Intervention SCF Help Through Winter Total restrlcted 220,542 202,138 (2,016) (2,112} (25,0(M)) 218,526 200,026 25,000 1,000 I,ooo 75,000 (75,000) 18,625 1,431 35,875 20,000 428,095 175,931 (18,625) (2,400) (35.875) 20,000 (181,028) 4,415 3,446 422,998 Total Fullds 1,283,853 576,146 648,493) 10,406 1,221,912 21
SOMERSEQ T SKGHT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 15 fund Accoullts - 2024 Opening Balances Income Expenditure Investment Movement Closing Balance8 UJJrestricted Funds General 339,036 501,586 (381,651) (3,653) 455,318 Desl nated Northfield House Improvement R¢serve 'opety Maintenance R¢s¢rv¢ MAS vehicle - Capital Total designated 334,144 (3,012) 331,132 68,000 1,740 403,884 68,000 1,308 400,440 432 (3,444) Total unrestricted 742,920 501,586 (385,095) (3,653) 855,758 Re trlcts Noithfield House Reserve Bradbury Centenary Wing HPC CommunAty Fund SeICe User equipment Technology training Emotional support services National Lottery Community Fund Early intervention Volunt¢er visiting s¢rvice Contributions to activities & services Frome Social Gmup Childr¢n's ,wtivities Magazin¢ Tile App¢al Tothl rcstrict(xl 222,558 204,250 12,500 35,000 1,000 400 (2,016) (2,112) (47,500) 220,542 202,138 1,000 (400) (10,000) 10,000 70,000 25,000 3,250 (70,000) (25,000) (3,250) 12,649 1,000 2,500 4,000 4,415 440,708 167,814 (12,649) (1,000) (2,500) (4.000) 4,415 428,095 {180,427) Total Funds 1,183,628 669,400 565,522 3 653) 1,283,853 22
SOMFRSET SIGHT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 15 Fund Accounts (continued) Restricted funds Somerset Sight Limited has the following restricted funds: The NortbfIeld House reserv¢ is money received and used for the purchase of Northfield House and 8iibsequent improvements to the building. Bradbwy Centenary Wing- Funds were received to pay for the construction of a large multi-purpose function and activity room at Northfield House. The Hinkley Point C Community Fund provided funding for the provision of additional volunteer visiting services and rnobile advisory servi¢¢s within the area of Somersct affcctcd by the Hinkley Point C construction worlc) particularly postcodes TA5, 6 and 7. Service User Equipment- Fund8 have been provided to pay bursaries to purchase equipment for 8ight- impair¢d individuals. Technology Training - Funds were reccivcd to pay for technology training for sight impaired illdividus. Emotional Support Services - Funding has been re¢¢iv¢d to assist with the cost of emotional sUPPOrt seryices. The National Lottery Community Fund Reaching CommunitieslPartnerships programme are providing tapering ft]nding to enable Somerset Sight to meet the increased demand for our services while we transition to a rnore sustainable fullding model. Early Inte¢tIOn- Grants have been received to fund early intervention work including the provision of gadgets and aids, thc Seeing Life Diff¢r¢ntly COULBe& and emotional support. Children's Activities - Funds have bccn reccived from grant making bodies and from Service Users to pay for holiday activity sessions for sight-impaii.ed children and young people. An Access to Worlc grant pays for specialist equipment for a sight-impaired member of staff. Funds are received towards the cost of beneficiaries attending aGtLVities and services. Fron]e Social Group- A donation was received to support the work of the Somerset Sight Social Group in Frome. Magazine - A donation was received to defray th¢ cost of producing the Somerset Insight magazine. Tile Appeal - All appeal has been launched to raise fLdS for the refurbishment and upgrading of the kitchen at Northfield 14ouse, particularly to improve facilities for the training of sight impaired people. 23
SOMERSET SIGHT LIMITED NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDEI D 31 MARCH 2025 Deslgnated funds Somerset Sight Limited has the following designated funds:_ Northfield House Im rovement Reserve This R¢seTh¢ r¢pr¢sents funds invested in improvements to tkne property at Northfield House for the benefit of service user8. Pro Maintenance Reserve Funds have been set aside to pay for planned tnaintenance and improvements at Northfield House, Mobile Advis Service Vehicle Ca ital Fund A Mobile Advisory Service vehicle is used to reach service users throughout the County. The MAS capital fund represents thc reserves allocated to funding that unit. 16 AnAlysis of Iyet Assets between Fiinds 2025 Tot&1 Unrestricted Designated Restricted Flxed Assets TangAble assets Investments Ciirrent Assets Stocks Debtors Bat Current Liabilities Creditors". Amounts due withill one 328,990 418,557 747,547 213,260 213,260 26,349 36,203 160,374 26,349 36,203 4,441 223,429 58,614 {24,876) (24,870 Total 411,310 387,604 422,998 1,221,912 24
SOMfRSET SIGHT LIMITED NOTEI S TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 16 Allalysls of Net Assets between Funds- Prlor year 2024 Total Unrestricted Designated Restricted Flxed Assets Tangible assets Investments Current Assets Stocks Debtor8 Bank Current Lfiabllltles Creditors: Amounts due within one year 332,440 422,679 755,119 204,705 204,705 24,737 27,072 232,712 24,737 27,072 5,416 306,128 68,000 (33,908) (33,908) Total 455,318 400,440 428,095 1283,853 17 Capital Commitments There were no capital comtnitnicnts as at 31 March 2025 (2024.. £Nil). Related Party Trans&etions Durlng the year th¢r¢ were no related paty transactions {2024: None). 25
SOMERSET SIGHT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EL¥DED 31 MARCH 2025 19 Comparatlve flgures for Statement of Flnanclal Activlties Total 2024 Notes UnrestrAGted RtrActed COME Donations and Legacies Other trading activities Income from investments Income from charitable activities Other income 255,096 255,096 18,650 18,650 30,259 30,259 189,078 167,814 356,892 8,503 8,503 TOTAL INCOME 501586 167,814 669,400 EXPENDITURE Costs of raising funds Costs of generating voluntary income Fund raising costs.. Cost of goods sold and other Costs Investment management costs 13,722 13,722 22,375 1,704 22,375 1,704 Expenditure on Charitable Activities 347,294 180,427 527,721 TOTAL EXPENDITURE 385 095 180,427 565,522 LOSSES ON INVESTMKIYT ASSETS Reised Unrealised (523) (3,130) (523) (3,130) IYET INCOMKI(EXPENDITURE) AND NET MOVEMENT OF FUNDS FOR Yfi All 112,838 (12,613) 100,225 RECONCILIATION of4 FUNDS Total funds brought forward 742,920 440,708 1.183,628 Total funds earned forward 855,758 428 095 1283 853 20 Share Capital and Control Somerset Sight Limited is & company limited by guarantee and does not have a share capital. The liability of the guarant0, who are the members, is limited to £10 per guarantor. At 31 Marcli 2025 the Charitable Con]pany had 99 members (2024- 101 members). The company is registered in England and Wales, The CoMpY is not controlled by any one paty. 26