Visiono ovisiono North 5omerset YoutWalEbariiyfot 51ghioihE3rltyk . GEf HELP . DONATE VOLUFfftE¥I Annual Report Year Ending April 2025 VisionC> North Somerset Charity Registered in En land & Wales: 1165364 Contents Contents Reference & Administrative Details Trustees, Report 4 - 20 Independent Examiner's Report 21- 22 Statement of Financial Activities 23 Balance Sheet 24 Statement of Cash Flows 25 Notes to the Financial Statements 26 - 39 Reference & Administrative Details for the Year Ended 31.03.2025 Trustees M Bowen S Greenfield E Hopkinson-spark M Mackle S Samad K Morrissey Principal Office & Registered Office 3 Neva Road, Weston-super-mare, BS23 1YD Bankers Unity Bank, 9 Brindley Place, 4 Oozells Square, Birmingham B12HB Independent Examiner Michelle Ferris Bsc (Hons) FCA DChA Albert Goodman LLP, Goodwood House, Blackbrook Park Avenue, Taunton, TA12PX Trustees, Report The Trustees present their report with the financial statements of the Charity For the Year ended 31 March 2025. The provisions of the Statement of Recommend Practice "Accounting and Reporting by Charities" (SORP FRS 102 - implemented 1 January 2019) have been adopted in preparing the annualreport and financial statements of the Charity. th Welcome in this, our 50 Year The end of this financial year was a significant time in the charity's history, as we were reflecting having started our th 50 year in operation. When the charity was established (as Woodspring Association for Blind People) back in 1975, the founders might never have imagined the impact their actions would have. They would likely have been astounded at how technological advancement now benefits people with both visual impairment and hearing loss. This year, we noted increased demand for help in this area. We were reminded of the importance of ensuring that those with sensory impairments are not deprived of the opportunities brought by both mainstream digital technologies, and specialised solutions. Visiono North Somerset Whatever the focus, our model of providing services which foster independence, safety and connection continued to bring clear results every day. We acknowledge too, the value of our positive partnerships with other organisations to bring the best results for our service users. Thank You We are proud that we continue our longstanding partnership with North Somerset Council, and thankful to all who have funded our work in the last year, and volunteered their time to help us reach our goals. In this celebration year, we continue to honour our founders by ensuring that we all - staff, trustees and volunteers - put our service users at the heart of what we do. Marie Mackle Chair Structure, Governance & Management Vision North Somerset is a Charitable Incorporated Organisation registered with the Charity Commission since February 2016. The charity was set up to replace Woodspring Association for Blind People, an unincorporated charity, registration number 270331, established in 1975. The Board of Trustees is responsible for the strategic direction and overall governance of the charity. As needed, sub-committees are set up to explore specific issues in depth. Trustees are appointed in accordance with the charity's governing document and receive an induction covering their responsibilities, safeguarding and financial oversight. External training opportunities are accessed where appropriate. Between four and twelve trustees are elected at the AGM by members present, and additional trustees may be co- opted at any time. Co-opted trustees hold office until the next AGM, when members may appoint them through majority vote. Nominations are sought prior to the AGM. The Board meets regularly throughout the year. Policies are set by the Trustees and are reviewed on a rolling basis. Day-to-day operational management is delegated to the Chief Executive, who is supported by a staff team and volunteers. The Chief Executive delivers reports to the trustees at ordinary meetings, and informally when required. Risk Management Public Benefit The Trustees have assessed the major risks to which the charity is exposed and are satisfied that appropriate systems and controls are in place to mitigate those. Key risks include financial sustainability, safeguarding, and staffing capacity, all of which are regularly reviewed by the Board. The Trustees have had due regard to the Charity Commission's guidance on public benefit when reviewing the charity's aims and activities. Trustees Trustees who served during period and since are: M Mackle (Chair) M Bowen S J Samad K Morrissey K Govind (resigned 21.10.24) S Smith (resigned 11.10.24) S Greenfield (appointed 24.04.24) E Hopkinson-spark (appointed 28.06.24) J Brice (appointed 09.12.24, resigned 31.03.25) Trustees are aware of their responsibilities in relation to compliance and policy making. Policies, risk management and compliance are regularly reviewed at Trustee meetings and between meetings via email as needed. Day-to-day management of the organisation is the responsibility of the Chief Executive. Regular reports are made to the Trustees to ensure they are up to date with operational activities. Trustees are responsible for the overall management of the Charity. Where needed, sub- committees are set up to consider specific issues in depth, reporting to the Trustee board to facilitate informed decision-making. Objectives & Activities The purpose of the charity, set out in the governing document, is 'the prevention and alleviation of blindness and impaired vision and hearing loss,. We support people living with sight and vision loss to live independent, fulfilled and connected lives. In pursuit of our objectives, during the year, we provided services in line with our current priorities. > Professional sight loss rehabilitation services > Advice, guidance and information, including on aids and equipment, at service users, homes and at our office >Training and help to use technologies, including specialist aids for hearing and sight loss > A resource centre, where service users can explore aids and equipment > Social opportunities, including peer support hubs, supported activities, talks and other events > Advocacy and awareness raising through partnerships with other organisations, and representation local networks > Volunteering opportunities, including supported volunteering "Such a massive difference now that I can do things on my own. Your team are good people." DT 10 The Trustees and staff team work hard to maintain our high profile and positive reputation and to ensure we deliver services to as many people as possible. As well as direct referrals from hospitals, healthcare providers and other organisations, we engage with service users through our social media, attendance at events, community room hire and our quarterly newsletter. "They have given me so much support - as well as passing me to other services." AB Fun fact: Volunteers who collect our donation containers are known as 'Elephant HuntersYJ! The containers are a familiar sight all across North Somerset. 11 Achievements & Performance Vision North Somerset is the only local charity supporting adults with sight loss andlor hearing loss, and our long presence in the area, and solid reputation, ensure we are a trusted name. In our last annual report, we noted that demand for our services seemed set to grow by 22 % over the next ten years. That expectation looked to be on target as we welcomed a higher-than -expected number of service users. Our staff team was supported by over 54 wonderful volunteers, some of whom who have been with the charity for over 20 years. They shared their skills in administration work, offered tech advice, supported our activities and meet-up hubs, and so much more. Volunteers, including supported volunteers, also helped with fundraising, supporting the charity through sponsored events, bucket collections and other activities. Our collection boxes are a familiar sight locally and can be found in over 100 locations around the county. "I have so many good things to say about your charity. You think of everything." PP 12 Sensory loss can quickly lead to isolation and disadvantage. Providing opportunities and support to stay connected is a key focus for the charity. We ran four regular meet-up hubs around the county, and offered supported activities, including skittles and swimming. Some of our service users enjoyed the support of befrienders and online clubs. 213 service users with sight impairment benefited from at- home advice, support and guidance, including professional rehabilitation support services. Through events, the resource centre and other channels, we reached hundreds more. Our hearing loss advice service is focused on offering advice on technologies and equipment to help people stay connected and combat isolation. Wision North Somerset Vourl(Kal¢harityfor Sight¢rhearing 105$ bCETHE We reached 303 people with hearing loss through our at-home visits, and still more through other channels. '1 can't believe I can hear on the phone again. It's changed my life!YY AJ 13 Technological developments are growing rapidly and offer huge opportunities for people with sight impairment and hearing loss - but only if they can access them. We focused on ensuring our service users, many of whom are elderly, are not left behind. Through home visits and events in our training room we provided tech training and help to over 140 people. We reached many more in other ways, including through informal advice and by working with partners. We continued to network widely with other VCSO organisations, healthcare bodies and other stakeholders with shared interests. 14 Stories that Matter: AB and isolation Sometimes, our relationships with other agencies make all the difference: here, nine organisations worked together to ensure a successful outcome. AB, who had suicidal ideation and was isolated, was referred to VNS from the DWP. She trusted us enough to provide a sight loss assessment, something she had been avoiding. Our professional sight loss rehabilitation officer stepped in to offer cane training and advice on magnifiers and specialist kitchen equipment for people with sight loss. This provided her with opportunities to explore the independence that she had lacked. Our home visits can often lead to complex outcomes, and we regularly offer advice on fire safety, home adaptations and safety measures. We were able to engage with a GP and the fire service on AB'S behalf and even contacted the RSPCA to explore opportunities to help AB'S dog. Our team built on the positive relationship we had with AB to encourage her to take up social opportunities and find connection with others with sight loss. We helped AB to learn to use a tablet and accessibility controls to use email. AB was in a much happier and safer place. Her confidence and independence were returned. she was engaged socially and was receiving the support she needed. "I would have given up without you." 15 Stories that Matter: EF and New Opportunities So many of our ser￿iCe users come to us completely unaware of the opportunities available to them because they don't like to 'make a fuss,. EF had contacted us to ask for help with his audio book player. We resolved the problem and then stopped for a chat, during which we learned that his macular degeneration had worsened, and he had lost more of his eyesight in the two years since we'd last had contact. He had attended numerous hospital appointments, and it seemed likely that he would receive a certificate of visual impairment. EF quite was feeling very lonely and troubled by what was to come. We talked through all the services we could offer, including advice on ways to stay independent, something EF was relieved to know. One of our sight loss advisors dropped in to show EF how even simple changes to lighting, and the use of tactile stickers could make a big difference. We discovered that EF was a fan of tech, and were able to set him up with voice commands and the Be My Eyes app. EF had been reluctant to come along to a support hub., for him it was a more public acknowledgement of his new way of being. We were delighted then to hear his feedback: 'Everyone is so friendly! I will definitely come again. I really enjoyed it!Y> 16 Financial review The income ofthe Charity increased by £92,785 to £415,664, of which £125,425 (2024- £57,777) was unrestricted, and £290,239 (2024 - £265,102) was restricted. The year-end funds of the Charity had increased by £47,645 to £431,870, of which £397,946 (2024 - £370,114) were unrestricted, and £33,92 (2024 - £14,111) were restricted. The Charity's free reserves at the year-end are £129,225. Free reser￿eS are calculated as net current assets held within unrestricted funds, excluding the defined benefit pension scheme liability repayments due within one year. During the year ended 31 March 2024, the final entrant in the scheme left the charity's employment, thereby crystallising the scheme at this point. Negotiations were entered into with the pension provider, and an agreement for repayment was reached. The balance owing at the year-end of £153,337 (2024: £266,400) is included in creditors, split between amounts due in more than and less than one year based on the anticipated repayment scheme. The property at 3 Neva Road is security against this debt. Reserves Policy Statement Vision North Somerset's reserves policy (set in June 2022) sets aside two levels of cash reserdes to be met by unrestricted funds: A buffer amount that will allow the organisation to continue to operate whilst income is reduced. A closure amount that will be used if Vision North Somerset ceases activity and closes to allow the organisation to meet essential expenses. 17 Tier one is set at three months, operating costs (£78,000 in June 2022). Tier two is calculated as the costs to cover an additional three months of salaries, plus statutory redundancy payments (£60,500 in June 2022). This fund will be used in the case of Vision North Somerset ceasing operations. Plans for future periods In the coming year, the Charity aims to.. Further develop services for people with sight and orlhearing loss, in particular focusing on supported activities and digital access Improve systems for volunteer recruitment, training and contact Develop how we engage with other organisations for the benefit of our service users, for example by improving accessibility and supporting service users to access their existing local services 18 Statement of Trustees, Responsibilities The Trustees are responsible for preparing the Trustees, 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 UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales 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 Charity and of the income and expenditure of the Charity for that period. In preparing these 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. make judgments and accounting estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements, and prepare the financial statements on the going concern basis unless it is inappropriate to presume at the Charity will continue in business. 19 The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deedlconstitution. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Board on April 20 2026, and signed on their behalf by N( /LGtts/L/ M Mackle Trustee 20 Independent Examiner's Report to the Trustees of Vision North Somerset I report to the Trustees on my examination of the accounts for Vision North Somerset ("the Charity") for the year ended 31 March 2025. Responsibilities and Basis of Report As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance withthe requirements of the Charities Act 2011 ("the 2011 Act"). I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent Examiner's Statement Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l 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 confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 21 1 . accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act., or 2. the accounts do not comply with these records. or 3. the accounts do not comply with the applicable requirements concerning the form and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a "true and fair view" which is not a matter considered as part of an independent examination. I have no concerns and have come across no matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Michelle Ferris Bsc {Hons) FCA DChA Albert Goodman LLP Goodwood House Blackbrook Park Avenue Taunton Somerset TA12PX Dated: 22 Statement of Financial Activities For the Year ended 31 March 2025 Unre- stricted Funds Re- stricted Funds Unre- stricted Funds Re- stricted Funds Total 2025 Total 2024 Notes Income from: Donations (including grants) Other trading activities Income from inveslm8nls 89,455 290,239 26,673 9,297 379.694 26.673 9.297 35,875 265,102 300,977 16.750 16,750 5.152 5.152 Total 125,425 290.239 415,664 57,777 265,102 322,879 Expenditure on: Charitable activities 97,593 270,426 368,019 35,616 278,088 313,704 Total 97,593 270.426 368,019 35,616 278.088 313,704 Net income I lexpenditurel for the year before transfers 27,832 19,813 47,645 22,161 112,9861 9.175 Transfers between funds Other recognised losses: Actuarial gains on defined benefit pension sGh8me$ 15 62,067 62.067 Net movements In funds 27.832 19.813 47,645 84,228 112.9861 71,242 Reconciliation of funds: Fund balances al 1 April 370.114 14,111 384,225 285,886 27.097 312.983 Fund balances al 31 March 397.946 33,924 431,870 370,114 14.111 384.225 The results for the year derive from continuing activities and there are no gains or losses other than those shown above. 23 Balance Sheet at 31 March 2025 Notes 2025 2024 Fixed assets Tangible fixed assets 394,842 401,963 Current assets Sto- Debtors Cash at bank and in hand Investments 13,722 103 229,272 66,000 2,445 201,452 203,897 309,097 Creditors Amounts falling due within one year 10 {27,140} 1168,3731 Net current assets 176,757 140,724 571.599 542,687 Creditors due more Ihan one year Defined benefit pension scheme 11 1139,7291 {158,462) Total net assets including pension liabilities 431,870 384,225 Unrestricted funds 12 397,946 33,924 370,114 14,111 Restricted funds 12 Total funds 431,870 384,225 The financial statements were approved by the Trustees on April 20 2026 and signed on their behalf by N( IL6io/L/ M. Mackle Trustee 24 Statement of Cash Flows 2025 2024 Cash flows from operating activities Net movement in funds for the year Adjustments to cash flows from non-cash items Depreciation and amortisalion Charged in year Change in pension fund Investment income received 47,645 71,242 9,850 9,451 (73,600) (5,152) (9,297) 48,198 1,941 Working capital adjustments Decreasel{increase) in debtors Decreasel{increase) in stock {Decrease)lincrease in creditors (2,342) 13,722 {159,966) (23) (10,406) 19,666 Net cash flow from operations Cash flows from investing activities Sale of investments Investment income received Purchase of fixed assets (100,388) 11,178 66,000 9,297 {2,729) 5,152 Net increase in cash and cash equivalents (27,820) 16,330 Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period Cash & Cash equivalents reconciliation.. Cash at bank 229,272 212,942 201,452 229,272 201,452 229,272 Total cash & cash equivalents at the end of the reporting period 201,452 229,272 25 Notes to the Financial Statements For Year ended 31 March 2025 1 Accounting policies The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows. 1.1 Basis of preparation The financial statements have been prepared under the historic cost convention. The financial statements have been prepared in accordance with 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) (Charities SORP (FRS102)) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The Charity meets the definition of public benefit under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 1.2 Income Income from grants and donations is recognised in the year in which they are receivable when there is evidence of entitlement, receipt is probable and the amount can be reliably measured. Income from government grants and local authorities is recognised when the Charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Where no conditions are attached to the grant income they are recognised within donations and legacies and where conditions relating to performance of services are attached, grant income is recognised in income from charitable activities within the Statement of Financial Activities. Income from other trading activities is included in the period in which the Charity is entitled to re￿ipt, it is probable that economic benefits will flow to the entity and the amount can be reliably measured. 26 Notes to the Financial Statements For Year ended 31 March 2025 1.3 Expenditure Resources expended are recognised on the accruals basis to match the period in which the expenditure was incurred. Charitable expenditure comprises costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and costs of an indirect nature necessary to support them. 1.4 Tangible fixed assets Depreciation is calculated to write off the cost or valuation of fixed assets over their estimated useful lives at the following rate: Freehold property - 1 % straight line Fixtures and fittings - 25 % straight line Fixed assets are capitalised where the expenditure incurred is in excess of £500 and the asset purchased is considered to have a long term benefit to the organisation. 1.5 Debtors Trade debtors are amounts due from customers for services performed in the ordinary activities of the Charity. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Charity will not be able to collect all amounts due to according to the original terms of the receivables. Other debtors comprise amounts due from prepayments. Amounts due from prepayments arise from the payments for services prior to benefit from those services. 1.6 Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 27 Notes to the Financial Statements For Year ended 31 March 2025 1.7 Creditors Creditors are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due. 1.8 Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is calculated on a first in, first out basis. 1.9 Taxation Vision North Somerset is a registered Charity and is therefore not liable to corporation tax to the extent that income and gains are applied to charitable purposes. 1.10 Investments Investments are held at fair value determined by the amounts held in National Savings and Investments bonds. 1.11 Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees. Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets this criterion is charged to the fund, together with a fair allocation of management and support costs. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 28 Notes to the Financial Statements For Year ended 31 March 2025 1.12 Local Government Pension Scheme Retirement benefits to employees of Vision North Somerset are provided by the Avon Pension Fund Local Government Pension Scheme ('LGPS'). This is a multi- employer defined benefit scheme, that is contracted out of State Earnings-Related Pension Scheme ('SERPS'), and the assets are held separately from those at Vision North Somerset. The LGPS is a funded scheme and the assets are held separately from those of Vision North Somerset in separate trustee administered funds. Pension Scheme assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit method and discounted at a rate equivalent to the current rate of return on a high quality corporate bond of equivalent term and currency to the liabilities. The actuarial valuations are obtained at least triennially and are updated at each balan￿ date. The amounts charged to operating surplus are the current the current Servi￿ cost and gains and losses on settlements and curtailments. They are included as part of staff costs. Past service costs are recognised immediately, the costs are recognised over the period until vesting occurs. The expected return on assets and the interest cost are shown as a net finan￿ amount of other finance costs or credit adjacent to interest. Actuarial gains and losses are recognised immediately in other gains and losses. During the year ended 31 March 2023, the final entrant in the scheme left the employment of the charity thereby crystalising the scheme at this point. During the year, following negotiations with the pension provider, an agreement for repayment has been entered into. The balance owing at the year end of £153,337 is included in creditors, split be￿een amounts due in more than and less than one year based on the repayment scheme. 1.13 Defined contribution pension scheme The Charity operates a defined contribution pension scheme (NEST. A defined contribution plan is a pension plan under which fixed contributions (7.5 % employer contribution) are paid into a pension fund and the Charity has no legal or contrastive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. 29 Notes to the Financial Statements For Year ended 31 March 2025 Contributions to defined contribution plans are recognised as staff pension expenses through the SOFA when they are due. 1.14 Going concern The Trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to the events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessment in respect of the period of at least one year from the date of authorisation for issue of the financial statements. The Trustees have concluded that the likelihood is that funding will be available to support the objectives of the Charity and that the Charity has adequate reSoUr￿S to continue in operational existence for the foreseeable future. There are no material uncertainties about the Charity's ability to continue as a going COn￿rn, thus they continue to adopt the going concern basis of accounting in preparing the financial statements. 1.15 Financial instruments The Charity only holds basic financial instruments as defined in FRS 102. The financial assets and liabilities of the Charity and their measurements are as follows.. Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank - is classified as a basic financial instrument and is measured at face value. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument. 30 Notes to the Financial Statements For Year ended 31 March 2025 2 Donation5 and legacies Unre- stricted Funds Unre- stricted Funds strlcted Funds Total 2025 stricted Funds Total 2024 Grant Income Anton Jurgens Charitable Trust si Monica Trust- Dwilal Inclusion North Somersel Council Social Services. Will Charitable Trust 5,000 5.000 Jb,750 Jti,75U J5,UULI J5,UUO 171,806 20,000 171,806 20,000 165,598 165,598 LottEry - Awafd5 for All Medlock Charitable Trltst NSC Public Health Community Ouartel- Volunteering NSC- Social Prescribino Destination. UK Social Prescribing Destination Sl Monica - Community Impact Quartet- Resilience fund Sl Monica Trust - Impact Improving Henry Smilh Charity C￿￿1￿Ul111Y Fund Quartet Express Society of Merchant Venturers 20,000 5,000 20.000 5.000 4,500 4,SOO 19,280 19,280 5,000 5,OCK) 10,IxiO 16.8 I0,OC￿l 10,000 16,890 10.000 13,333 13.333 50,ODO 3,850 5,0 3,334 3.334 50,000 3,850 5,000 5,000 5,OiX) 50,000 290,239 340,239 265,102 265,102 Donations 39,455 39,455 35,875 35,875 89,455 290,23g 37g.694 35,875 265,102 300,977 'denoles government funding 31 Notes to the Financial Statements For Year ended 31 March 2025 3 Other trading activities Unre- stritted Funds Re- strlcted Funds Unre- strlcted Funds Re- strlcted Funds Total 2025 Total 2024 Other Re-sale equipment Room hire 6,048 12.249 8,376 26,673 6,048 12,249 8,376 26,673 4.166 8,614 3,g70 16,750 4.166 8,614 3.970 16,750 4 Investment income Unre- stricted Funds Unre- stricted Funds stricted Funds Total 2025 stricted Funds Total 2024 Bank interest receivable 9,297 9,297 5,152 5,152 5 DirÈ¢t charitable expenditure Unre- stricted Funds Re- stricted Funds Unre- stricted Funds Re- stricted Funds Total 2025 Total 2024 Wages and salaries Core and operating C051s Legal and professional Re-sale equipment purchased Project costs Contribution lo core costs 35,253 219,895 255,148 6,032 214.438 220,470 39,628 8,543 12,184 33,461 131.4761 97,593 270,426 19,023 58,651 8,543 12,184 33,493 59,208 2.027 731 10,810 143.1921 35,616 10,216 69,424 2,027 6.066 15,717 5,335 4,907 43,192 32 31,476 368,019 278.088 313,704 32 Notes to the Financial Statements For Year ended 31 March 2025 6 Employees 2025 2024 Wages and salaries Social security costs Pension costs 216,516 23,576 15.056 198,207 9,606 12.657 255,148 220,470 No individual was paid over £60,00012024. £60,000). The average number of employees for the year was as follows-. 2025 10 2024 10 Number of staff One person is ¢onsidered key management personnel of the Charity, being the Chief Executive Officer. Total employee benefits of the key management personnel of the Charity were £49.03312024. £47,325), including employers, national insurance and employers, pension contributions. The Charity operates a defined ¢onlribLrtion pension scheme. The charge in the Statement of Financial AGlivities for the year is shown above. Contributions tolalling £nil 12024". £nil} were payable lo the schemes at the year end and are included in Greditors. During the year, termination payments of £9,705 were paid in full and final settlement {2024 - £nill. No amounts were owing at the year-end12024 - none). Net incoming resources before transfers 2025 2024 This is slated after chafging.. Depreciation Accountants remuneration 9,850 2,556 600 9,451 1,427 600 independent examination other 33 Notes to the Financial Statements For Year ended 31 March 2025 Tangible assets Freehold property Fixtures & Fittings Total Cost As al 01.04.2024 Additions 425,000 129,824 2,729 554,824 2,729 As at 31.03.2025 425,000 132,553 557,553 Depreciation As at 01.04.2024 Charge for period 34,014 4,252 118,847 5,598 152,861 9,850 As at 31.03.202S 38,266 124,445 162,711 Net book value As al 31.03.2025 386,734 8,108 394,842 As at 31.03.2024 390,986 10,977 401.963 The pension delicit {as disclosed in note 111 is secured against the propety. Investments 2025 2024 National Savings Bond investments 66,000 66.000 34 Notes to the Financial Statements For Year ended 31 March 2025 10 Creditors: amounts falling due within one year 2025 2024 Trade creditors Accruals & deferred income Other creditors Defined benefit pension scheme liability 3,215 6,513 3.8Q4 13,608 56.443 3.992 107,938 27,140 168,373 Deferred income 2025 2024 Dèferred incoma brought forward Released in year Deferred in the year 53,416 150,0831 35,000 135,(J)O) 53,416 Deferred income carried forward 3,333 53,416 Deferred income relates to grants received from the St Monica Trust which do not meet the criteria for recognition. 11 Credltors: amounts falllng due over one year 2025 2024 Defined benefit pension scheme liability 139.72g 158,462 139,729 158,462 Pension scheme liability 2025 2024 Amounts due < 1 year Amounts due > 1 year 13.608 139.729 107,938 158,462 Total pension schem8 liability 153,337 266,400 35 Notes to the Financial Statements For Year ended 31 March 2025 12 Statement of Funds Balance 01.04.24 Transfersl Ilossesl Balance 31.03.25 Income Expenditure Restricted funds Anton Jurgens Charitable Trust Lottery- Awards for All Medlo¢k Charitable Trust North Somerset Coun¢il_ Social Seryices NSC Public H8allh Community Quartet- Wessex Water Community Fund Quartet Express S￿letY of Mer¢hant Venturers Sl Monica Trust Community Impacl Digital Inclusion Will Charitable Trust 5,000 20,000 5,000 15,000) 120,0001 15,000} 171,807 4,500 (171,8071 14,500) 3.850 5.000 5,000 13,850) 15,000) 15,000} 8.693 5.418 13,332 36,750 20,000 113,219} 137,0501 8.806 5.118 20.000 Total restrlcted funds 14,111 290,239 1270.4261 33.924 Unrestricted funds Unrestricted funds excluding pension reserve 370,114 125,425 {97,5931 397,946 Total unrestricted funds 370,114 125,425 197,5931 397,946 Total Funds 384.225 415.664 1368,0191 431,870 36 Notes to the Financial Statements For Year ended 31 March 2025 statement of Funds - Prior year Balance 01.04.23 Tran5fersl {lossesl Balance 31.03.24 Income Expenditure Restricted funds Sl Monica Trust- Digital VANS UK Social Prescribing Destination Postcode Local Trust Quartet- ResIlen￿ Fund North Somerset Council Social Prescribing Destsnation Quartet - Volunteering st Monica Trust- Community Impact st Monica Trust- Coronation Age UK Bristol - Digital Inclusion St Monica - Improving Connections North Somerset Council 35,000 129,5821 15.0001 110,0001 5,418 5,000 10,000 7,396 17.3961 110,0001 15,0001 10,000 5,000 3,651 8,616 19,280 16,890 122,9311 116.8131 8,693 500 1,934 15001 {1,9341 {3,3341 3,334 165,598 1165.5981 Total restrlcted funds 27,097 265,102 1278,0881 14,111 Unrestricted funds Unrestricted funds excluding pension reserve 285,886 57,777 135,616} 62,067 370,114 Total unrestricted funds 285,886 57,777 135,6161 62,067 370,114 Total Funds 312,983 322,879 {313,7041 62,067 384.225 37 Notes to the Financial Statements For Year ended 31 March 2025 The purposes for material funds are as follows.. Lottery - Awards for All - support of the social groups and befriending service, Seeing Friends project. North Somerset Council - delivering statutory services and a contribution towards essential costs for the charity. St Monica Trust - Community Impact is for delivering peer support and social inclusion activities such as social groups and support groups. St Monica Trust - Digital Inclusion delivering technology advice and training to people with visual impairment and relevant professional partners. Will Charitable Trust - funding received towards a systems improvement project to support the growth, development and sustainability of the charity's services and to reach and benefit more people with sight loss. Quartet Resilience Fund - developing the infrastructure and resilience of the charity through training and communications. Quartet Community Foundation Volunteering - the development and growth of the volunteering programme. UK Social Prescribing Destination - developing social support for people with visual impairment. Postcode Local Trust- developing and growing social and wellbeing support for people with visual impairment. 13 Related party transactions Remuneration of £Nil was paid to Trustees during the year (2024.. none). No trustees were reimbursed for travelling expenses during the year (2024.. none). 14 Analysis of net assets between fund$ Unre- stricted Funds Re. stricted Funds Unre- stricted Funds Re- stricted Funds Total 2025 Total 2024 Tangible assets Nel current assets Credilofs due > 1 year 394,842 142,833 {139,729 394,842 401,963 176.757 126,613 1139.7291 1158,462 392,512 140.724 1158.4621 33.924 14,111 397,946 33,924 431.870 370,114 14.111 374,774 38 Notes to the Financial Statements For Year ended 31 March 2025 1 S Pension commitments Some of the Charity's employees belonged to the Local Government Pension Schemes (LGPS) managed by the Avon Pension Fund ("APF"). As of 31 March 2023, the final entrant in the scheme left the employment of the charity, thereby crystallising the scheme at this point. An amount has been included within creditors due under one year and due in more than one year for the final balance owed which is on a different valuation basis to that of the previous actuarial valuations. There is therefore no actuarial valuation carried out for the scheme as at 31 March 2025. The pension valuation included in the accounts was an estimated value as at 1 April 2023, which has since been updated to reflect the amount of repayment due under an agreement. 2025 2024 Pension scheme liability blfwd Repayments Revaluation in year 266,400 1113,0631 340,000 111,533) 162,0671 Pension scheme liability clfwd 153,337 266,400 39 VisionC> North Somerset A Charitable Incorporated Organisation in England & Wales, Number 1165364 01934 419393 info@visionns.org.uk 3 Neva Road Weston-super-mare BS23 1YD Braille Copy On Request