2021-03-31-accounts - Sight Cymru

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				Page
Chairman's		statement		1-2
Trustees'	report			3-13
Statement		oftrustees'	responsibilities	14
Independent		auditor's	report	15-18
Statement		offinancial	activities	19
Balance sheet				20
Statement		ofcash flows		21
Notes to the financial			statements	22- 37

Reference	Reference	and administrative	and administrative
Charity	name			Sight Cymru
Charity	number			1171471
Principal	office			Bradbury	House
				Park Road
				Pontypool
				NP4 6JH
Trustees				SPorter
				D Phillips	(Vice Chair)
				P Device	(Chair)
				RThompson
				H Tudball
				R Williams
				M Boardman
				P Evans
				J Bevan
Key management			personnel	Bablin Molik - CEO
Auditors				Azets Audit Services
				Ty Derw,	Lime Tree Court
				Cardiff Gate Business Park
				Cardiff
				CF23 SAB
Bankers				Santander
				Bootle
				Merseyside
				L20 3PQ
Investment		advisors		Rowan Dartington		Limited
				Temple Point
				Redcliffe	Way
				Redcliffe
				Bdstol
				BS16NL

			Unrestricted	Restricted	Total	Unrestricted	Restriicted	Total
			funds	funds		funds	funds
		Notes	2021 6	2021 6	2021f	2020	2020	2020 6
~tn gm~ffim:
Donations and legacies			9,970		9,970	19,280		19,280
Charitable activities			4,383	477,295	481,678	7,199	383,758	390,957
Other trading activities			2,872		2,872	2,652		2,652
Investments			23,553		23,553	27,179		27,179
Total income			40,778	477,295	518,073	56,310	383,758	440,068
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Raising funds				4,224	4,224	4,487		4,487
Charitable activities		8		458,349	458,349	60,215	388,967	449,182
Totalresources
expended				462,573	462,573	64,702	388,967	453,669
Net gains/(losses)		on
investments		12	108,447		108,447	(88,820)		(88,820)
Net Incoming/
(outgoing) resources before transfers			149,225	14,722	163,947	(97,212)	(5,209)	(102,421)
Gross transfers
between funds			13,683	(13,683)		80,853	(80,853)
Net movement	in	funds	162,908	1,039	163,947	(16,359)	(86,062)	(102,421)
Fund balances at 1
Apriil 2020			669,307	437,612	1,106,919	685,666	523,674	1,209,340
Fund balances	at 31
INarch 2021			832,215	438,651	1,270,866	669,307	437,612	1,106,919

			2021		2020
		Notes	6	6
Fixed assets
Tangible assets		13		443,736		445,140
Investments		14		668,722		562,757
				1,112,458		1,007,897
Current assets
Stocks		16	6,920		8,865
Debtors		17	68,102		68,904
Cash at bank and in	hand		123,844		56,720
			198,866		134,489
Creditors: amounts	falling due within
one year		18	(40,458)		(35,467)
Net current assets				158,408		99,022
Total assets less current liabilities				1,270,866		1,106,919
Income funds
Restricted funds		19		438,651		437,612
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Designated funds		20	11,333
General unrestricted	funds		820,882		669,307
				832,215		669,307
				1,270,866		1,106,919

				2021		2020
			Notes			P
Cash flows from operating		activities
Cash generated from/(absorbed by)			24
operations					47,853
Investing	activities
Purchase	oftangible fixed assets			(6,764)		(5,349)
Purchase	of investments			(173,800)		(221,440)
Proceeds	on disposal of investments			176,282		225,595
Investment	income received			23,553		27,179
Net cash	generated from investing
activities					19,271
Net cash	used in financing	activities
Net increase in cash and cash equivalents					67,124
Cash and	cash equivalents	at beginning	ofyear		56,720
Cash and	cash equivalents	at end of	year		123,844

				2021	2020
				6
Counter sales				3,307	5,336
Sundries				1,076	1,305
Services				342,628	338,233
Grants				134,667	45,525
Conferences					558
				481,678	390,957
Analysis by fund
Unrestricted funds				4,383	7,199
Restricted funds				477,295	383,758
				481,678	390,957
Services and grants:
Aneurin Bevan University			Health Board	56,657	59,400
Caerphilly County		Borough Council		41,599	33,524
Cardiff Council				40,781	40,230
Monmouthshire	County Council			57,630	57,630
Neath Port Talbot County Council				44,200	45,657
Torfaen County	Borough Council			46,261	46,292
Vale ofGlamorgan		Council		55,500	55,500
Big Lottery Fund				39,275	32,625
Vision in Wales					6,000
Life Beyond Sight		Loss		3,100	6,900
WCVA				75,332
Torfaen Voluntary Alliance				1,000
HMRC Coronavirus		Job Retention Scheme		11,860
British Science Association				500
GAVO				3,600
				477,295	383,758

5	Other trading activities
		Unrestricted	Unrestncted
		funds	funds
		2021f	2020
	Fundraising	2,872	2,652
6	Investments
		Unrestricted	Unrestricted
		funds	funds
		2021	2020
		8
	Income from listed investments	23,292	26,958
	Interest receivable	261	221
		23,553	27,179

				Restricted	Unrestricted
				funds	funds
				2021	2020
				6	f
Fundraisin	n	li	it
Fundraising				1,113	1,187
Investment	man	erne		3,111	3,300
				4,224	4,487

		2021	2020
		6	6
Staff costs		340,826	301,572
Depreciation and impairment		8,169	8,319
Services		12,898	9,479
Contract costs		31,472	36,497
Advertising			436
Conference costs			3,526
Insurance		2,597	2,354
Light and heat		1,671	4,964
Printing post and stationery		8,028	5,228
Sundry		4,367	4,029
Repairs and maintenance		3,144	5,058
Travelling and subsistence		4,646	18,995
Staff training		525	2,830
Other staff costs		3,434	889
Equipment hire		1,253	1,049
		423,030	405,225
Share ofsupport costs (see note 9)		19,696	30,605
Share ofgovernance	costs (see note 9)	15,623	13,352
		458,349	449,182
Analysis by fund
Unrestricted funds			60,215
Restricted funds		458,349	388,967

Support		costs
			Support	Governance	2021	Support	Governance	2020
			costs	costs		costs	costs
					8		2
Staffcosts			12,504		12,504	19,735		19,735
Repairs			786		786	1,264		1,264
Insurance			649		649	589		589
Light and		heat	418		418	1,242		1,242
Printing,	postage and
stationery			2,007		2,007	1,307		1,307
Sundries			1,405		1,405	1,270		1,270
Travel costs			1,162		1,162	4,748		4,748
Bank charges			765		765	450		450
Audit fees				5,100	5,100		4,750	4,750
Legal and		professional		10,523	10,523		8,602	8,602
			19,696	15,623	35,319	30,605	13,352	43,957
Analysed		between
Charitable		activities	19,696	15,623	35,319	30,605	13,352	43,957

		2021	2020
		Number	Number
			17
Employment	costs	2021	2020
			6
Wages and salaries		325,886	295,280
Social security costs		19,553	18,541
Other pension costs		7,891	7,486
		353,330	321,307

Tangible fixed assets	Tangible fixed assets
			Leasehold	Fixtures and Motor	vehicles	Total
			land and	fittings
			buildings
			6
Cost
At 1 April 2020			457,243	11,883	28	469,154
Additions				6,764		6,764
At 31 March	2021		457,243	18,647	28	475,918
Depreciation	and impairment
At 1 April 2020			18,440	5,546	28	24,014
Depreciation	charged	in the year	5,386	2,782		8,168
At 31 March	2021		23,826	8,328	28	32,182
Carrying amount
At 31 March	2021		433,417	10,319		443,736
At 31 March	2020		438,803	6,337		445,140

14	Fixed asset investments	Fixed asset investments	Fixed asset investments
					Listed	Cash in	Total
					investmentsf	portfolio
	Cost or valuation
	At 1 April	2020			530,974	31,783	562,757
	Additions				173,800	(166,998)	6,802
	Valuation	changes			108,447		108,447
	Cash movement					(9,284)	(9,284)
	Disposals				(166,964)	166,964
	At 31 March 2021				646,257	22,465	668,722
	Canying	amount
	At 31 March 2021				646,257	22,465	668,722
	At 31 March 2020				530,974	31,783	562,757
15	Financial	Instruments				2021	2020
						F	E
	Carrying	amount of	financial assets
	Instruments measured		at fair value through	profit or loss		646,257	530,974
16	Stocks
						2021 6	2020f
	Finished	goods and goods for resale				6,920	8,865
17	Debtors
						2021	2020
	Amounts	falling due	within one year:			6	6
	Trade debtors					61,679	64,670
	Other debtors					6,423	4,234
						68,102	68,904

Creditors: amounts f	alling due within one year
		2021	2020
		8
Other taxation and social security		18,753	17,521
Trade creditors		10,817	10,797
Other creditors			1,294
Accruals and deferred	income	10,888	5,855
		40,458	35,487

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			Transfers		Balance at
				31	March 2021
					g
Fixed	asset	fund	11,333		11,333
			11,333		11,333

	2021	2020
		5
Within one year	1	13
Between two and five years	4	32
in over five years	77	78
	82	123


24	Cash generated from	operations				2021	2020
						5	5
	Surplus/(deficit) forthe	year				163,947	(102,421)
	Adjustments for:
	Investment income recognised		in statement offinancial		activities	(23,553)	(27,179)
	Fair value gains and losses on		investments			(108,447)	88,820
	Depreciation and impairment oftangible fixed assets					8,169	8,319
	Movements in working	capital:
	Decrease/(increase) in	stocks				1,944	(462)
	Decrease in debtors					802	4,667
	Increase in creditors					4,991	11,926
	Cash generated from/(absorbed			by) operations		47,853	(16,330)
25	Analysis ofchanges	in net funds