## # ## |||||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|details|||| |---|---|---|---|---|---|---|---| |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| |EXgftgditttraSuV.||||||||| |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| |t)afaattigiasLhnda||||||| |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| ## ## ## ## ## ## ## |13|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| ||||(he
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CO|||| ## ## ## ## ||||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||||||