Charity registration number 1171471
SIGHT CYMRU
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

SIGHT CYMRU
CONTENTS
Pagè
Chairman's slalemenl
Trustees, report
2- 11
Slalemenl of trustees, responsibilities
12
Independent auditorfs report
13-15
Statement of financial activities
16
Balance sheet
Slalemenl of cash flows
Notes to the financial statements
19-34

SIGHT CYMRU
CHAIRMAN'S STATEMENT
FOR THE YEAR ENDED 31 MARCH 2023
Chair's Introdtsction
This report outlines some ol the incredible achievements of Sight Cymru for thè year ending fvlar¢h 2023. Eslahlishèd
more than 150 years ago and became Charitable Incorporated Organisalion In 2017. We take Ihis opportunity lo provide
our thanks to all those who havp made this year d success Including staff, volunteers, Iruslees, partners, funders.
commissioners, supporters and most imporianlly our 58wice usèrs.
The RNIB report stales there are over 110,000 people living Ivilh sight loss in Wales. The Certificate ol Vision
ImpÉ3irmpnl ICVI I Is Jsed 10 record Pcltienls with Eight Impairment ISI) or as severely sight impaired ISSII., witli patient
consent and siyritd b! a corisulldnl tjolillidlinoiuyisl. lh* CVI Is the form21 notification lo local éluthoiilies to asse55 the
nep.ds. Welsh. Government reported just below 1,400 new regislered CVI Ir) 2012113 and this Increased steadily lo over
1.600 in 2019-20. Over 80D/y of people rÈglStered with sight loss are ovor 80 yoars of ag9. The Inorease in a9?In9
POPLJlation has ic Iso meant an Increase In sight loss population In Wales. Whilst the number ol people registered with
sight impairment is Ljsed as a Tnarker lor sight impairfflenl population. these figures are not conclusive and do not
provid6 the lull picture in terms of the nuniber ol people living with sight loss. With increasing nutnbers ol people with
sight Ioss dntj ro)mplexity ul need in sigl)I loss populat10n, the need lor support and serrfices is groiving immensely. We
would like to thank all tIDse who have dtsnated lime and funds lo enable LJS lo continue supportino well over 6,500
people with sight loss In Wales.
Sight Cyinru has exlerided Ils work on pieven1in¥ avoidable sighl loss In vulnerable populatiofis and engaging schoDI
pupils Ivilh eyecare and amongst commLJnilies al hioh risk such as minority ethnic Gomfflunities, as we know over 50 /0 of
sighi loss Is preventable. iwe want to Iighlighl our Ihanks lor 11)e work ol our volunteers. the generosity of The National
Lollery( and the ￿1CVA Resilience Fund lor their suppvil and Ihe many indiviauals and organisations who have workeos
with us or donated funds so that ive can increase Olsr reach In engaging people with eye c3re to preveni sight loss
Sight Cymru has over 6,500 service users and has taken over 12.000 actions to provide one-tg-one support for them this
yeaf. Ive are a team 0122 staff and over 70 active volurileers who have supported the delivery ol this work during the
year Sight Cyinru has raised ovcr £16.637 Ilirough lunaraising and donations and over £125,317 in grant income lo
support Ihe work tsl the charily during the year to support Ihe rharitie5 cause.
This year Sight Cymru opened its first Charity Shop on High Street in Blackwood in February 2023. The opening ol this
rirsl charity shop was supported by Gwent High Sheriff and local Mayor along with 8 number ol organisalioris we work
wilh includif)g RNIB. Oplometry Wales. Our iesourcE cenlre has re-localed lo High Street to Improve foollall and
awareness. We are hoping to Increase our sources ol Income through the charity shop, which will enable us lo hosl a
more flexible approach lo service delivery, lo acl as needed and when needed and in sustaining and extending our reach
and al'iareness.
This report highlights Sotne ol the irycreijible work the Llidr',ly has delivered over the year. 11 demonslrales an oveDJiew of
the various ser.iices providoo Including Ihose In eye clinies. iehabilil3lion service. community '.rainin9 and development.
and advocacy ane wellbeing. The report presents ali OVE￿Ie￿ of the adminislralion details and struclure ol the
organisalion Finaiicial information Is provided Including risk managetnenl. the reserve policy, funding sources and the
5nveslmenl policy. Finally, our view lor the future Is prÈsÈntÈd. Wè are proud ol the findings of this reports, and we are
rightly proud of Ihe SLibstanlial work we do lo hplp people with sight10s8 in Wales.
Rhoda Williams
Chair of Trustees
Bablin Molik
Chief Executive Officer

SIGHT CYMRU
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2023
The trustees present their annual report and financial slalemen15 lor the year ended 31 March 2023.
Thè financial statements have bpen prepared in accordance with the accounting policies sel out in note 1 to the
financial slalemenls and cnmply with the tharily's governing document. the Cliarities Act 2011 and Accounling
and Reporting by Charities. Slalement ol Recommended Prae.tice applirable lo charities preparing their accounts
in accordance with the Financial Reporting Standard applicable In the UK and Republic ol Ireland IFRS 1021
(effective 1 January 20191
Objectives and activities
Who we are, and what we did. in the year ended March 2023
Sight Cymru Is an independent organisalion ivilh Ils headquarters in Ponlypool, South Wales. We now also have
a charity sl)op with a resource centre localed al 8lrickwood We work Iowrirds preveiiling avoidable sighi loss
and helpiTrg people enjoy a good quality ol life despite losiiig their sight. OLiI charity objectives are lo.
Support people In Vlales who have, or who are at risk ol, sight loss
Collaborate ￿1th other orgariisalions vrfilh siini13r obioclives lo make the bpsl use of available resources.
Prevent avoidable sight loss by iaising awarèness, olfeiing training and providing information to the public, lo
carers and to professionals.
Underlake research that prevents sight loss or enables people lo remain Independent alter losing their sight.
iwe received 5-year funding for our Widoning Vision proiecl from Thc Ncqtion81 Lollery This project will mainly
ork in building 8 sight 105s friendly and more Inclusive community along with prttvcnling sight ioss. It viill also
work lo sustain our wellbeing services 2nd build our digital inclusion ollering through technology library and
officer suppc>rt. The project steering group ctsn%i.%ls of peopl? with s'.ghl loss aiid those support Iliern Al Ihe
beginning ol the projecl we recruited ai)d trained a nLJmber of VDILir)toTrrs lo support and deliver the IT3IF'.Ing Ttrio
proieLI le3m has nobij deliverod a numbei ol sight luss awareno$8 ies%ioris to businessgs, publ,.c sety',or
tsiganisalions aTrd charities We havLJ a150 dolivcred sèveral talks lo scliool%, 13lkir)g lo children 8boiil vJays they
can laok artel IhL'ir eyes
Public benelil
Tli& IriJslees hak'e paid due ieaard lo uuidap.c.e I%SLieu b! Ilic, Chèiily Commi%%ioii 111 decidi.'io 'Nhal 3Ltivities the
Lharily shtsLJld undErlake.
Achievements and performance
Sight Loss Friendly Abergavenny. Vve worked cl(J£?l¥i viilh Ahp.rgavpnny Tovdii Cnuiicil- 10 8Lipporl Ilieni Iii
I,Ve IidVL dtrlib'v.rgd training to Vdrioiig orgar,lSdlions In
Aberqavenny. InLludinfj Ihe Town uoiiooi! stall al Kinq Yenri/ CJrTli'rtrlieiisivp. Sc.liou,. ADQI gaviiniiy Librcirv.
Tauriot InlorniéliL)11 office, Abeiqdvenn J, Round Tiible, B31 r('.IASJq n*. Ab￿r4dVe17[1y Ld(Iies BiJ.4iriebS klssocia'.1011
and the Angel Hotel We launched tli& scheiyie In Aberydvenii v Tov.(n Iqall. wilh the ￿laYOr as giiesl ol lionour
Chérles Bonngl Syndrome ICBSI.. This is a condiliori which ledds to visual hdlluLinalions arid oLciJrs as 3 resLiIt
015is'hl loss. Most ol our training this year ivere delivered lace lo face but have held INVO sessioiis virlu311v.
One of these sessioris w85 reo3rdiiig CBS. 48 peoplp rlllended thi.% w?binar and Il Kvas a qreal oppoiluriily ID
raise (?wareness of the ifflpacl and effect ol CBS.
Here are some quotes Irom soine ol the benGficiarie5 of the 1raininq we've delivereo
'Brillianl webinar, really inlormalive and Inleresling and really good lo gel different perspectives.
'The Webinar was well organised, with gieal guest speakers from dsfferenl backgrounds and experiences, which
was brilliant and I learned 8 101.

SIGHT CYMRU
TRUSTEES, REPORT ICONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
'The conlenl was perfectly put together from personal experiences. organisalions and recent research. It was a
very Informative and eye opening training
'VVhal you've done Is given our team an awareness ol sight loss which we hadn't considered before.,
'BRSLLIANT I!11!11111 Great information and speakers.
We provide support for people who are blind or partially sighted. Each programme is delivered around an
individual's needs and aspiration5 bul might typically include assistance lo continue working, orientation and
navigation skills or using lechnology to mitigate the disability. We call this work 'Rehabililalion for the Vision
Impaired, IROVII and we are the largest provider of the ROVI Service in Wales, over 4.000 onfrlo-one support
sessions were undertaken by our ROVI team in 2022123.
Comments from service users from various local aulhorilies..
Neath Port Talbot
"After rehabilitation my mobility and Indepenclence has improved Audio books has helped me a lot with my
mental wellbeing
'Mobility training has Increased My social activity as I can now gel out and about."
Monmouth
'Everything Sight Cymru has done lor me has been superb"
'Issued with a cane which ha5 helped my confidence..
Vale
'IMproved communication and confidence. Improved soci81 Ille and relationships with others.
"Confidence has improved in the community.
Cardiff
"Service was amazing and showed me so much. Much more confident novl,
'Use ol a magnifying glass has given me much mole confidence. l Gan boil water. Beller at using mobile phone
with louder continuous ringing Lots ol other stuff that has helped with my mental and physical wellbeing.
Torfaen
"Very paliènl and helpfLJI"
'Much more confident in gelling out and about"
'My namè Is JM. and l am 29 years old. I have GDO (Global Development Delay) so my mum ha5 helped me to
write this in my own words
I was scared when I found OLJt I was losing my sight and that slowly il would gel worse and possibly go
completely, as I had keratocconus
How would I cope? I needed mum and dad so much already because I have GDD. Stress started building
slraighl away but then they told me I could get some help Iiom the "vision people. and eventually I met Julie.
IROVII she was going to help me learn Io LJ5e a canel

SIGHT CYMRU
TRUSTEES, REPORT (CONTINUED}
FOR THE YEAR ENDED 31 MARCH 2023
Oh, my goodness that first session of cane training, I must have looked like I was going metal detecting the way I
was swinging the cane from side lo side. That's when I started lo learn aboLJt personal space, very quickly.
The words.head up and keep lo yourself'11 couldn't remember keep your cane lo yourself as I was sweeping my
cane loo wide!) became a mantra, I have lo say that look ages and is still ongoing.
Al first, I was so nervous, and my head hurt from eoncentrating and my hand and wrist hurt from holding the
cane, I really thought I'd never be able lo cope with il all. Bul Julie was always positive and encouraging and
Slowly I relaxed a little In each session and managed lo not look like I was just trying lo sweep the floor in front ol
me or knocking skittles down.
Even though did start lo get it, l still gol really frustrated but Julie would just reassure mè I was doing fine.
The one thing I seriously struggled with was steps and stairs, OMG the stressl Each week I'd be up and down
LIan￿1t Stations. sieps tninking to myself, come on for goodness's sake just get It rigttt.
Finally, the day came when Julie said, well-done JW yOLJ've mastered sl&ps" I was so proud ol myself Il was
such a feeling ol achievement, so much so I persuaded mum I deserved cakel
Each new thing I mastered, us1ng a crossing. going into shops, ciowds, the stairs. all built my confidence All the
things I thought I'd never be able lo do, well I'd done. it Was finally corning together
I'd learnt about personal space, listening to my environment, also a lol about patience.
Yes. it has taken me a while lo get there, partly due to my learning difficulties partly due to illness.
Bul l AM getting there and so can youl
The rehabililalion service is vital for someone to re-gain confidence and Independent living skills and does enable
peoplè to continue their normal daily activities posl-sighl loss.
Working In Eye Clinlcs
Last year almost 1,500 one-to-one support actions were taken by our Eye Clinic Liaison Officers IECLOI tearn.
with over 440 new service users recorded. Patients diagnosed with permanent sight loss, or those who are facing
Inlra-vilreal injection5 were supported from eye clinics Into the Community services throLigh social carè and third
sector services. Whilst it is. of course, brilliant that there are now trealments for some eye conditions that
previously were a roule lo blindness. we recognise how difficult Ihose treatments may be for patients. Our
ECLOS are there to support patients and help them cope
' When I first met CM she was living with severe anxiety and slipping into depression Along with this she was
having a severe chronic Uveitis flare up affecting her vision immensely and also ￿USIng her extra worry about
ring lor her children. one of which has health conditions.
GM was so affeded by hei anxiety that our initial communications Could only happen via writing, such as
emails. I discussed our emotional support service with her extensively and she agreed to try the s￿Vice Having
this service has proved very successful for CM and enabled her lo more effectively deal with her emotional
anxiety
For Cm's consultanl appointments in the first instances, she benefitted from ECLO support. l also liaised closely
with her consultant lo ensure sh& had all available information and any answers to any questions she had.

SIGHT CYMRU
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Caerphilly Supporting People have also helped CM check her welfare rights and facililaled her in many financial
aspects.
CM has also benefitted from audio books which has helped her wellbeing by providing her activitiès to do during
her chronic uveit15 flares She has also a¢¢essed Sight Cymru's Assistive Technology service lor IPad and audio
book help via the ECLO serviTr.
The ECLO last saw CM In a clinic visit recently. She is no longer having flares and her vision h8s vastly
improved. CM was smiling, chatty and happy in dinic and il was so lovely to see.
Vicky, ECLO
Wellbelng Servlce
The demand on the wellbeing service has continued lo grow this year. Over 1,262 people, including 277 new
service users, accessed our wellbeing services In the last year from Blaenau Gwent, Caeiphilly, Card'ff, Newport.
Ceredigion. Monmouthshire. Rhondda Cynon Taff, Nealh Port Talbol, Torfaen and the Vale
Talking news. Our weekly talking news service Is subscribed lo by almost 100 people. They receive their Ioc81
news on a memory stick every week. Our volunteers do the news recordings ano we compile a11 recordiros on
the memory Stick and send them to service users.
Ring Around Service. This has primarily been a service we provided for people not very mobile and lonely. We
saw an increasing need for this servi¢e and so we continue lo iecruil and train new volunteers to meet the
increasing demand lor the service
Clubs". Vve have sel up and supported a number of clubs across the South Wales region. based on geographical
or hobbylinleresl. lo provide peer support We started a new club in Blackwood due lo demand. These club5 are
supported by volunteers.
Erllolional Support The emotional support officer provides telephone sUPPOrt for people who may be finding
matte15 difficult and arè in need to speak to someone who can listen 8nd understand their thoughts and fears,
someone who can support them through th& difficult phase.
'Mis C was releired lo me via a telephone ¢all lo Sight Cymru lo enquire about what help we could provide her.
We explained our services and Mrs C decided to accept our Emotional Support service. Mrs C had been
struggling with Intense Anxiety and Agoraphobia since suffering a Stroke earlier in the year. The Stroke has
unfortunately left Mrs C with significant and continuing sight loss.
A5 Mrs C has no support network. family and lives alone, I made a Rehabilitation referral through her County
Borough first response team and updated them over the next few weeks about her declining vision and how this
was affecting her day-lo-day living and her wellbeing. The first response team worked quickly to get a ROVI
assigned lo Mrs C and this has helped her lo stay independent al home with continued emotional suppcrt Irorn
Sight Cymru.
I have been in CDnlact with Mrs C's ROVI and we have worked together to ensure she has the Correct support
both practically and efflolionally. I have been in contact with Mrs C's GP practice and ensured she had a same
day appoinlrnent wlh a GP when ghè was suffering particularly badly with her mental health. and 1 also
researched some lo￿1 sight loss groups in hèr Borough to alleviate her feelings of Isolation and loneliness.
I passed on the group co-ordinators number lo Mrs C 2nd she 15 now receiving great support and attending a
group. Having had some lovely feedback from the co-ordinator regarding the emotional SUPPDrt that I have
provided Mrs C over the past few months, and also some very positive feedback from Mrs C herself. l am
confident that she is now being correctly supported and making new connections with others through gained
confidence and resilience.

SIGHT CYMRU
TRUSTEES, REPORT (CONTINUED
FOR THE YEAR ENDED 31 MARCH 2023
Mrs C finds il diffpcull lo I￿st others and can be reluclanl lo accept help and engage with seNices, by h&r own
admission. aild l ensured tljal I worted t1￿￿essIY lo builLI a relalioiFship of Inisl and be soineon& Ihal she Go(Jld
rely on for emotional support"
Sarah, Emotional Support Officer
Counselling.. We have bèèn able to continue with our counselling service this year for people who need
therapeutic interventions to deal with their wellbeing challenges.
Volunteering. Sight CymrLJ and our service benefit greatly Iiom our fabulous volunteers Volunteering ancl
supporting people with sight loss also a¢ls as a level in boosting people's wellbeing and their confidence. We
have over 70 active Volunteers supporting our wèllbeing services, administration Work. training and within our
Charity shop. We offer a range of roles and multiple ways for volunteers lo get involved to suppc>rt thè
organisalion meet ils aims It would not have been possible lo do this level of work without our volunteers.
Advocacy
We supported around 100 people in Caerphilly borough lo claim their entitlement lo welfare. Our support has
enabled many lo access their full enlitlemenl and our support also inclLJded providing transcriptions, arranging
tenancies, debt managément, and helping people lo Identify the right technology or equipment that helped them
lead morè independent lives.
.1 received a referral ltsr a Jiv. When I cairied out my assessment he advised me of his eye condition, which wa5
a haemorrhage behind the eye due lo Covid which had left him with sight loss He advised me he works in a
SLJpermarkèl but since his sight loss he has cut his working week 10 3 days as he has 10 Stop diiving and now
catches 2 buses lo work, which he Is finding a struggle along with his health. I refeirÉd hitn lo the ROVI team
who came out and Issued him with a guide cane and showed him the salesl roule lo the bus slop I then referred
him lo access Its work and also arranged with a local optician lor him to have a low vision assessmert where he
was Issued with the magniliers. which has helped him in both work and al home Our next slep was lo help
lacililale him going through the process of a PIP IPersonal Independence Paymenll claim", he was awarded
enhanced PIP on both elements which enabled us to apply further for a blue badge and a coneession bus pass
HÈ has now been awarded acces5 lo work which enables him to continue with his job and have a safe way of
traveling through a taxi lo and from work. This has had a massive effect on JW wellbeing as he can rem21n as
independent as he possibly can as well as remaining in employment and finanGially stable
Supportirig People orricer
Financial review
Results
The charity's net movement in funds for the year amounted lo a deficit of £11.35512022' £21.9051 Excluding the
inveslment 11085esllgains the charity made a surplus of £2D,745 12022.. def5CIt of £20,407) consisting of an
unrestricted surplus of £25,954 12022.. delicil 01 £8.9501 and a restricted d8ficil 01 £5,209 12022." deficit of
£11.4571
Risk management
Our risk register is reviewed at Trustèes Meeting al regular Intervals and is a living document that si15 with the
executives ol the organisation Trustees are responsible for ensuring oversight and that appropriate conliols are
in place to provide ieasonable assurance against fraud and error.
Our ethical policy Is available on request In Welsh and English and sels out the ethos that underpins the work tsf
the charity. Other policies that help guide our work are reviewed regularly and formally overseen by Trustees al
their first meeling ol each financial year.

SIGHT CYMRU
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARGH 2023
Reserves pollcy
In an uncertain funding cycle. the charity prudently considers that the reserves should enable the organisalion lo
trade for 9 months in the event that no further funding was available. This would enable the charity lo meet ils
redundancy liabilily as well as any other financial commitments in the event th81 it were lo cease trading.
Reserves held by Ihe charity include the leased property. Bradbury House. Vvhilsl the current nel txjok value is
£422,645 this sum will depreciate over the term of the lease.
A5 al 31 Maich 2023 the charity had lotsl reserves of £1,281,416 12022.. £1,292,771) con51s1ing of £859.431
12022". £865.5771 ol unreslricled and dèsignated funds and £421,98512022'. £427,194) of reslricled funds
The free reserves of the charity lunreslricled funds less designated ILJndsl lolalle(S £852.49012022. £857,780),
Whilst Sight Cymru does benefit from significant reserves, a part of the reserve Is planned lo bè utilised for fLJture
projects to diversity Income Yor the charity.
Funding sources
A mixed portfolio of income streams provides the funding necessary lo help the Gharity operate. Sources include
contracts. grants. lundiaising events. donations and earned Income. We have recently recruited a c(Foperale
service manager to strengthen the organisations diversity and inclusion, communications and fundraising and
research and innovation strands to diversify the charity's income and reach.
Investment pollcy and obJectiv&s
In a¢GordanGe with the ¢onslilulion, funds owned by the charity which are not required foi working tapital are
held in inveslmèn15 that would not have a detrimental effect on sight. Typically, therefore, we do not hold
investrnen15 in tobacco or alcohol wmpanies.
Funds held
Details of the charity's funds are shown in notes 20, 21 and 22 of the financial stalemenl5.
Plans for the Future
This year Sight Cymru has worked to stabilise current work and servicès, whilst implementing a new service
evaluation system and opening the ¢harily shop lo diversify income The work within Sight Cymru has made the
organisation much stronger for the future and we are ready lo work with some of the external sight bs
organisalions lo see how we can jointly improve our offering for people with sight loss across Wales.
There are a number of excitina new ventures we are hoping to explore In research and innovation In future and
this will involve working In collaboration with academics, health and social care professionals and technology
companies. We have hopes lo build our connections with research and technology lo Improve our role in future
innovation and improvement in service for people with sight loss In Wales
We are working lo obtain Ihe Investment in Vo1unleeiing Award. We value our volunteers greatly. they are a core
part ol Sight Cymru We wanl to ensure we are doing all that can be donè to ensure our volunteers are looked
after and our commitment lo volunteers are well received.

SIGHT CYMRU
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Structure, govemance and management
Governance
The charity Is governed by Ils conslitulion, adopted on 3rd February 2017 and available on request lo the
registered office. Ils membership elect up lo 15 Iruslees, who normally hold office for a term of thee years, bul
who may again sland for re-election for one further term The organisation recogn15es a need lor a diverse Board
of Trusteèg and there Is a balance between those with direct experience ol sight loss and those with skills
relevant lo the development of the Charity.
Skills and expertise on the board include management, eye-care, health, education, law and governance. Skills-
8udils are undertaken, and where there are shortfalls in skills Ihose are advertised in order lo fill Ihose areas
We welcome people who would like to become a trustee to visit and meet with staff. seNice users other
trustee5.
Mernbers ol the board of Trustees give their lime VDILJntarily and rècèivè no bènèfits from the tharily. Any
expenses reclaimed from the charity are set out in nc>te 10 to the a¢Gounls.
This year, due to Covid- 19, the AGM was held virtU211y. Rhoda Williams was eleeled as Chair and we hsd 3 new
members ol the board In Jon Mudd, Matthew Thomas and Susan Hughes.
Organisatlonal Structure
Sight CymrLJ is a Charitable Incorporated Org8nisation. registered on 3rd February 2017. 11 was previously an
unincorporated charity, 214215, known as Sight Support and has been in existence under different narnes since
1865. The charily retains the protected names Gwent Association for the Blind, Sight Support and Sight Support
Cymiu
The charity's Chief Executive is responsible for the day-lo-¢ay operation of the charity and manages the staff of
the charity on behalf ol the trustees.
Sight Cymru's staff and volLJnteers are its grealest asset and we aim lo support each employee and volLJnleer lo
leach their potential This includes encouraging them to lake up training opportunities and we are pleased lo
report that this year we have supported a member of staff to undertake rehabililalion training All staff have
briefing sessions on a monthly basis and have seen training on unconscious bias, suicidal case delemiination
and handling, cultural Competency. welfare rights for people with sight loss. stroke and sight loss, dementia
awareness, stonewall talked about LGBTQ+ communities, VJelsh Water support for vulnerable people.
safeguarding, CCAWS delivered training on stress management and relaxalion therapy and RNID deliver￿1
training on hard at hearing
We believe Strongly in development, and we work closely with staff lo find the right training and development
opportunities. This helps us remain an organisation that has the respect ol other much bigger orgarisations, but
most importantly It helps us deliver amazing services to those that have redu¢ed sight in Wales

SIGHT CYMRU
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
As al 31 sl March 2023 the staff working with the charity were as follows..
IT
Admi
rato
Business
Support Manager
ECLO
Servlee
Manag•
Wellbetng
Service
Manager
ROVI
Service
Manager
Assistrv¢
centre & TeclkTbDlogy
tundraising offitey X2
oftieer
officey
Emotional
ECLO
Support
officer5 otlic•T
suP￿rtIng
people
otti¢eT x2
ROVI service
x Cardiff Frr
X Vale Frr
Ix NPT Frr
1x TorFaen Frr
2X Monmouth
IN CONCLUSION
Sight Cymru Is a leading organisation supporting people with sight loss in Wales and will continue lo determine
innovative ways lo develop. 11 Is lo the credit of our staff, volunteers, the increased use of technology and firm
restraint on spending that the organisalion remains strong
Sight Cymru will continue to look for new and innovative meth￿S of providing services so that people with sight
loss can regain independence. and we will maintain our efforts lo prevent avoidable sight Ios5.
The Trustees are indebted lo the many supporters. volunteers and other stakeholders who have hélpèd with
monèy, timè, énèrgy and idéas The charity is widely acknowledged as one that achieves far more than ils limited
resources would indicate and without its dedicated volunteers, the charity could not help so many p￿pIe who
have little 01 no sight.
The trustees would also like lo thank the staff and the Chief Executive Officer who continuè to provide effective
solutions to promote the organisation's work.

SIGHT CYMRU
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Reference and admlnlstratlve details
Charity name
Sight Cymrkj
Charlty number
1171471
Principal office
Bradbury House
Park Road
Pontypool
NP4 6JH
Trustees
R Williams (Chairl
D Phillips (Vice Chairl
P Davies
S Porter
J Bevan
P Evans
M Thomas
J Mudd
S Hughes
Kèy management personnel
Bablin Molik- GEO
Lissa Gomèr- ELCO Service Manager
Rebecca Harris - Wellbeing Service Manager
Julie Thomas- ROVI Service Manager
Rebecca Twaite- Business Support Manager
Auditors
Azets Audit Services
Ty Derw Lime Tree Court
Cardiff Gale Business Paik
Cardiff
CF23 8AB
Bankers
Santander
Bootle
Merseyside
L20 3PQ
Investment advisors
Rowan Dartinglon Limited
Temple Point
Redcliffe Way
Redcliffe
Bristol
BS1 6NL

SIGHT CYMRU
TRUSTEES. REPORT (CONTINUED}
FOR THE YEAR ENDED 31 MARCH 2023
Tne trustees, report was approved by the Board ol Truslees.
R Williams
Trustge

SIGHT CYMRU
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 MARCH 2023
The trustees are responsible for preparing the Trustees, Report and the lin3nLial statemenls in accoidance with
applicable law and Uniled Kingdom Accounting Slanddrds Iuniled Kinqdom Generally Accepted Accounting
Practice)
The law applicable lo charities In England and Wales require% the Iruslees to prepare finanLial statements lor each
financ1al year which give a true and fair view of the state of affairs ol the charity and ol the Incoming resources and
appli¢alion of resoLJrces of the charity for that year.
In preparing these financial statements, the trustees are required lo..
select suitable accounting policies and then apply them consislenlly..
observe the methods and principles In Ihe Charities SORP.,
make judgements 2nd estimates that are reasonable and prudenl.,
slate whether applicable accounling Standards hsve been followed, subiccl to any material depaniires disc105ed
and explained In the financial sl8lements', and
prepare Ihe financial statements on the gopng concern basis ijnless It is nappropriale lo presumc that the charity
will conlinue In opei3lion.
The trustees are responsibl& for keeping suff icient accounting records that disclose with reasonablp accuf£Cy zl 8ny
lime the fincincial position of the charity and enable them 10 ensure Ihal thc financial stalcmenls comply with the
Charities Act 2011. the Charity (Accoijnls and Reports) Regulations 2008 ai)d Ihe piovisions of the trust decd. They
ale also responsible lor safeguarding the assets ol the charity and thence lor taking reasonable slcps for the
pievenlion and detection ol fraud and other irregularities.
The trustees are responsible lor the maii)tenance rind integrity ol the charily and fin2ncial infnrmation included on
the charity's website. Legislation in the United Kingdom governing the preparation and dissemination ol financial
statements may diffpr from legislation In other iurisdiclions.

SIGHT CYMRU
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF SIGHT CYMRU
Opinlon
We have audited the financial statements of Sight Cymru Ilhe '¢harily'l for Ihe year ended 31 March 2023 which
comprise the 51atemenl of financial activities. the balance sheet, the statement ol cash flows and the notes to the
financial slatemenls, including a summary DI significant accounting policies. The financial reporting framework that
has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including
Financial Reporting Slandard 102 The Financial Reporting Slandard applicable in the UK and Republic of Irelaniy
Iuniled Kingdom Gener211y Accepted Accounting Praclicel.
In our opinion, the financial slalements".
give a true and fair view ol the slate of the charity's affairs as al 31 March 2023 and of its incoming resources
and application of resources. for the year then ended".
have been properly preparèd in accordance with United Kingdom Genèrally Accèpted Accounting Practi(É",
and
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We wnducled our audit in accordance with International Stand8ids on Auditing IUKI IISAS IUKII and applicable
law. Our responsibilities under those standards are further described in the Audiloffs responsibilrties for the audit ol
the financial stateménts section ol our rèport We arè indèpéndènt of thè charity in accordance with thè ethical
requirements that are relevant lo our audit of the financial slalemenls in the UK, in¢luding the FRC'S Ethical
Standard, and we have fulfilled our other ethical responsibilities In accordance with these requirements We believe
that the audit evidence we have obtained Is sufficient and appropriate lo provide a basis for our opinion.
Conclusion5 relating to going concern
In auditing the financial slalemenls. we have concluded that the Iruslees, use of the going concem basis ol
accounting In the preparation of the financial sl8lemenls is appropriate.
Based on the work we have performed. we have not Identified any material uncertainties relating lo events or
conditions that, individually 01 collectively, may cast significant doubt on the charity's ability lo continue as a going
concem for a period of al least twelve months from when the fin8nci81 slalemenls are aulhorised for issue.
Our responsibilities and the responsibilities of the Iru51ees with respect lo going concern are described in the
relevant seclions of this report.
Other Information
The other information comprises the information inclLJded in the annual report other than the financial statemenls
and our auditor's report thereon The truglees are respc>nsible lor the other Information contained within the annual
report Our opinion on the financial statements does not cover the Dther information and we do not express any forrn
of assurance conclusion Ihereon. Our responsibility is lo read the other information and, In doing so, cgnsider
whether the other information is materially inconsislenl with the financial statements or our knowledge obtained in
the course c>f the audit, or othe￿15e appears to be materially misstated. If we identify such material inconsistencies
or apparent material missiatemenls. we are required to delermine whether this gives rise lo a malerial misslatemenl
in the financial slalements themselves If, based on the work we have performed. we conclude that there is a
material misstalement of this other information. we are required to report that fact.
We have nothing lo report in this regard
Matters on whlch we are required to report by exceptlon
We have nothing lo report in respect of the following matters in relation to which the Charities IAccounls and
Reports) Regulations 2008 require us lo report lo you if, in our opinion".
the information given in the financial stalemenls is inconsislent in any material respect with the trustees.
report.. or
sufficient accounting records have not been kept., or
the financial slalements are not in agreement with the accounting records, or
we have not received all the information and explanations we require for our audit.

SIGHT CYMRU
INDEPENDENT AUDITOR'S REPORT ICONTINUEDI
TO THE TRUSTEES OF SIGHT CYMRU
ResponsSbilities of Irusteès
As explained more fully in the slalemenl of Iruslees, responsibilities, the Iru5tees are responsible for the preparation
of the financial statemenls and for being satisfied that they give a tiue and fair view. and for such internal control as
the trustee5 determine is necessary lo enable the preparation of financial statement5 that are free from material
misstatement, whelher dLJe to IraLJd or error. In preparing the financial statements, the trustees are responsible for
assessing the charity's ability to continue as a going concern, disclosing, ss applicable, matters related to going
concern and using the going concern basis of accounting unless the Iruslees either inlend lo cease cperations. or
have no realistic alternative bul lo do $0
Auditorfs responsibilitiès for the audit of the linanclal statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the
Act and relevant regulations made or having effect thereunder.
Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from
material misslalemenl. whether due lo Iiaud or error: and to issue an auditor's report that includes our opinion.
Reasonable assurance is a high level of assurance bul is not a guarantee that an audit Conducted in accordance
with ISAS IUKI will always dete¢t a material misslalémenl when It exists Misstatements can 311sè from fraud or
error and are Considered material If, individually or In the aggregate, they could reasonably be expected lo Influen
the economic decisions of users taken on the basis of these financial statements.
A further description ol our responsibilities 15 available on the Financial Reporting Council's website al-. https-.11
w¢rfw.frc.org.uklauditorsresponsibililies. This description forms part of our auditor's report
Extent to which the audlt was conSide￿d capable of datèctSng Irrègularities, including fraud
Irregularities. including Iiaud, are Instances of non-compliance with laws and iegulalions We design procedures in
line with our responsibilities. outlined above and on the Financial Reporting Council's website. lo delect material
misslalemenls in respect of irregularities, including fraud
Vve obtain and update oui understanding of the enlily, its activities. ils control environrnenl, and likely future
developments, Including in relation lo the legal and regulatory framework applicable and how the enlily Is complying
with that framework Based on this understanding, we identify and assess the risks of material misslalemenl of the
financial stalemenls. whether due lo fraud or error, design and perform aLJdit procedures responsive lo those risks,
and obtain audit evidence that is sufficient and appropriate to provide a basis lor our opinion. This Includes
consideration ol the risk of acts by thé entity that were contrary lo applicable laws and regulations, including fraud.
In rasponsè lo the risk of irregularities and non-compliance with laws and regulations, including Iiaud. we designed
procedures which Included..
EnqLJiry of management and those charged with govemance around actual and potential Iiligation and
claims as well as actual, suspected and alleged fraLJd',
Reviewing minutes of meetings of those charged with governance.,
Assessing the extent of compliance with the laws and regulations considered lo have a direct rnaterial
èffèct on the financial slalements or the operations of the entity through enquiry and Inspection",
Reviewing financial slalement disclosures and testing to supporting documeni8tion lo assess compliance
with applicable laws and regulations.,
Performing audit work over the risk of management bias and override of Controls. Including testing ol
journal entriès and other adiuslments for appropriateness. evaluating the bLJsiness rationale of significant
transactions outside the normal course ol business and reviewing accounting eslimales lor indicators ol
potential bias
Because of the inherent limitations ol an audit, there is a risk thst wè will not delecl all iriegularilies, including those
leading lo a material misstatement in the financial slaiemenls or non-compliance with regulation This risk
increases the ￿ore that compliance with a law or regLJlation Is removed from the events and transactions reflected
in the financial slalemenls, as we will be less likely to become aware of instances of norFcompliance. The risk ol
not deleGting a material misstatement resulting from fraud Is higher than for one resulting from error. as fraud may
involve Collusion, forgery, intentional omissions, misrepresenlalions, or the override of Internal control.
14

SIGHT CYMRU
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF SIGHT CYMRU
Other matters
Your attention is drawn to the fact that the charity has prepared financial slalements In accordance with Accounting
and Rèporting by Chaiilies". Slalement ol Re¢ommendÈd Practice applicable to charities preparing their accounts In
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" las
amended) in preference lo the Accounting and Reporting by Charities. Statement of Recommended Practice issued
on 1 April 2005 which is referred lo in the extant regulations bul has now been withdrawn.
This has been done In order for the financial slatemÉnts to providè a trLJe and lair view in accordance with current
Generally Accepted Accounting Practice.
Use of our report
This report is made solely lo the charity's trustees, as a body, in accordance with part 4 of the Charities (Accounts
and Reports) Regulations 2008. Our audit work has been undertaken so that we might slate lo the charity's trustees
those matters we are required to slate lo them in an auditors. report and for no other purpose. To the fullest extent
permitted by law, we do not accept or assume responsibility lo anyone other than the charity and the Charity's
trustees as a body. lor our audit work. for thi5 report, or for the opinions we have formed.
Azets Audit Services
18 September 2023
Chartered Accountsnts
Statutory Auditor
Ty Dèrw, Lime Tree Court
Cardiff Gate Business Park
Cardiff
United Kingdom
CF23 8AB
A2els Audit Services Is eligible for appointment as auditor ol the chaiily by virtue of ils èligibility for appointment as
auditor of a company under section 1212 of the Companiès Act 2006.
15-

SIGHT CYMRU
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
Unrestricted Restricted
funds
funds
2023
2023
Total UnrestrScted Restrlctèd
funds
funds
2022
2022
Total
2023
2022
Notès
Donations and legacies
Charitable activities
Other trading activities
Investments
16.637
6,958
6.845
26 478
16,637
504,919
6,845
28,478
12.732
3.933
1.977
23.295
12,732
411,910
1,977
23,295
497,961
407.977
Total In¢ome
56,918
497.961
554,879
41,937
407,977
449,914
Raising funds
11,738
11,738
5.477
5,477
Charitable activities
19,226
503,170
522.396
45,410
419,434
464,844
Total expenditure
30.964
503,170
534.134
50.887
419,434
470.321
Nel gainslllossesl on
investments
12
132,1001
132,1001
42,312
42.312
Net movement in funds
18.1461
15,2091
111.3551
33,362
111,4571
21,905
FLJnd balancès al 1 April 2022
865.577
427,194
1,292.771
832,215
438.651
1,270,866
Fund balances at 31 March
2023
859.431
421.985
1,281,416
865,577
427,194
1.292,771
The slalemenl of financial activities include5 all gains and losses recognised in the year.
All income and expenditure clerive from ctsnlinuing activities
16

SIGHT CYMRU
BALANCE SHEET
ASAT31 MARCH 2023
2023
2022
Notes
Fixed assèts
Tangible a55ets
Inve51Menls
428,926
670,12g
434.991
706.954
1.099,055
1.141.945
Current 3S5els
Stocks
Debtors
Cash at bank and in hand
6.514
73 321
143,143
5.681
96.069
118.042
17
222,978
219,792
Croditor$.' amounts falling due within
one year
18
140,6171
168,9661
Net CLirrent assets
182,361
150,826
Total assets less current liabilities
1,281.418
1.2g2.771
Income lunds
Restricted lunds
Unresiricied funds
Designated funds
Gener81 unreslricleoj funds
20
421,985
427.194
21
6,941
852.490
7,797
857.780
859,431
865,577
1,281,416
1,292,771
The financial slalenients were approved by the Trustees on
I q-i-7)L£
R Williams
Trustee
17-

SIGHT CYMRU
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2023
2023
2022
Notes
Cash flows from operating activities
Cash absorbed by operatlDns
25
14,1901
132,9271
Investing activitiès
Purchase of tangible fixed asset5
Purch3se of investments
Proteeds on disposal ol Invcslmeiils
Investmpnt incoine received
12501
1292,9371
297,017
23,295
1124,938l
129,663
Net cash generated from investing
a¢tivilies
29.291
27.125
Net Gash used in finanGing activities
N&t increasellde¢reasel in cash and cash
equivalents
25,101
15.8021
Cash and cash equivalents al beginning ol year
118.042
123,844
Cash and cash equivalents at end of year
143.143
118,042
18

SIGHT CYMRU
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Accounting policies
Charity Informatlon
Sight Cymru Is a charitable incorporated organisatiDn whose principal office is Bradbury House, Park Road,
Ponlypool, NP4 6JH.
1.1 Accountlng conventlon
The financial statements have been prepared in accordance with the charity's governing document, the
Charities Act 2011 and "Accounting and Reporting by Charities." Statement of Recommended Practice
applicable lo ¢harilies preparing their a¢counls in accordance with the Financial Reporting Standard
applicable In the UK and F£epublic ol Ireland IFRS 1021 leffeclive 1 January 20191" The charity IS 2 Public
Benefit Enlily as defined by FRS 102.
The financial statements have departed from the Char11ies (Accounts and Reports) Regulations 2008 only lo
the extent required to provide a true and lair view. This departure has Involved following the Statement of
Recommended Practice for charities applying FRS 102 rather than the version of the Statement of
Recommended Practice which is referred to in the Regulations bul which has since been withdrawn.
The financial slalemenls are prepared in sterling, which is the functional currency of the charity. Monetary
amounts in these financial slalements are rounded lo the nearest £.
The financial slalemenls have been prepared under the historical eosl convention. The princip81 accounting
policies adopted are set out below.
1.2 Going concern
At the time of approving the financial slalements, the trustees have a reasonable expectation that the charity
has adequate resources to continue in operational existence for the foreseeable future. Thu5 the Iruslee5
continue to adopt the going concem basis of accounting in preparing the financial slalemenls.
1.3 Charitable funds
Unrestricted funds are available for use al the discretion of the trustee5 In furtherance of their charitable
obieclives.
Designated lun(Js comprise funds which have been set asi(Se at the discretion of the trustees for SFecific
purposes The purposes and uses of the designated funds are sel out in the note5 to the financial slalemenls.
Restricted funds are subject to specific conditions by donors as lo how they may be used The purwses and
use5 of the reslricled funds are sel out in the notes lo the financial statements.
1.4 Income
Income 15 recognised when the charity is legally entitled lo il after any performance ￿nditionS have been met,
the atnounls can be measured ieliably, and il is probable that income will be received.
Cagh donations are recognised on receipt Other donations are recognised once the charity has been notified
ol the donation, Ljnless performance conditions reqLJire deferral of the amount Income tax recoverable In
relation to donations received under Gift Aid or deeds ol Covenant is recognised at the lime of the donation.
Income from grants is recognised when the charity has entitlement to the funds. any performance conditions
attached to the grants have been met, it Is probable Ihal the Income will be received and the amount can be
measured reliably and is not deferred
Income from services is included in Ihe period to which the service is provided
Income from the sale ol gDods is recognised when the sale takes place
19-

SIGHT CYMRU
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Accounting policies
(Continued)
Investmenl income Is Included when receivable.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation lo make 8 payment lo a third party. Il
Is probable that settlement will be required and the amounl of the obligation can be measured reliably.
Costs of oising funds comprise the costs In relation lo generating income such as fundraising activities.
Expendiluie on charitable activities includes all costs relating to the furtherance of the chanlys objectives as
slated in the Iruslees report and their asSOClated support costs.
Irrecoverable VAT is charged as a cost against the activity lor which the èxpenditure was incurred.
Support costs have been allocated between governance costs and other support. Governance costs
comprise all costs involving public aGGounlabilily of the charity and ils compliance with regulation and good
practi¢e.
SLJPPOrt costs Include central functions and have been allocated to activity Cost categories on a tesis
Consislenl with the use ol resources
1.6 Tangiblè fixèd assets
Tangible fixe(l assets ale Initially measured al cost and subsequently measured at cost or valuation, nel ol
depreciation and any impairment losses.
Depreciation Is recognised so as lo write off the cost or valuation of assets less their residu21 values over their
useful lives on the following bases.
Leasehold land and buildings
Fixtures and fittings
Motor vehicles
over the life of th& lèase199 yearsl
1 Q°/ 33 slraighl line
25°/o Straight line
The gain or loss arising Dn the disposal of an asset Is determined as the differenTr between the sale
proceeds and the carrying value ol the asset, and 15 recognised in the statement ol financial aclivilies.
1.7 Fixed asset investments
Fixed asset Invèstments are Initially measured al transaction piice excluding transaction costs. and are
subsequently rneasured al fair value at each reporting date Changes In fair value are recognised in net
incomellexpenditurel for the year. Transaction costs are expensed as incurred.
1.8 Impairment of fixed assets
Al each reporting end dale. thè charity reviews the carrying amtsunls of ils tangible assets to determine
wh8th8r there is any indi¢alion that those assets have suffered an Impairment 1055 If any $u¢h IndKatitsn
exisls, the recoverable amount ol the asset is estimated in order lo delerrnine the extent ol the impairment
loss lil any).
1.9 stocks
SloGks cowprise ol consumables purchased for iesale and are slated at the lower ol cost and nel iealisable
value and are less any provisions lor slow moving stocks. Donated goods for sale in the charity shop are not
valued
20-

SIGHT CYMRU
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED
FOR THE YEAR ENDED 31 MARCH 2023
Accounting policies
(Continued)
1.10 Cash and cash equlvalents
Cash and cash equivalènts include cash in hand. deposits held al call with banks, othei short-terrn liquid
inveslrreDls with Diiginal maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings In current liabilities
1.11 Financial instruments
The charity has elected to apply the provisions of Seclion 11 'Basic Financial Instruments, and Section 12
'Olher Financial Instruments Issues. of FRS 102 ID all of its financial instrument5.
Financial Instruments are iecognised in the charity's balance sheet when the charity become5 party lo the
conlraclual provisions ol the inslrumenl.
Financial assets and liabilities are offset. with the net amounts presented in the financial slalemenls, when
there is a legally enforceable right lo sel off the recognised amounts and there is an inlenlion lo settle on a
nel basis or lo iealise the asset and settle the liability simultsneously
8asi¢ financlal assets
Basic financial assets, which include debtor5 and cash and bank balances. are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the
effective interest method unless the arrangement conslilules a financing Iransaclion, where the transaction 15
measured al the present value ol the future re￿ip1S discounted at a market rate ol interest. Financial assets
classified as receivable within one year are not amortlsed.
Derecognition of financial assets
FinanGial assets are dere¢ognised only when the contractual rights lo the cash flows from the asset expire or
ale settled. or when the charity transfers the f1nancial asset and sub51anlially all the risks and rewards ol
ownership to another enlily, or if some significant risks and rewards of ownership are retained bLJt control ol
the asset has transferred to another party that is able to sell the as5el In its entirely lo an unrelated third party
Basic financial liabilities
Basic financial liabilities, Including creditor5 8nd bank loans are Initially recognised al transaction price unless
the arrangement conslitules a Iinancing Iransaclion. where the debt instrument is measured al the present
value of the future payments discounted al a market rale ol interest. Financial liabilities classilied as payable
within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acqulred In the ordlnary course ol
operations from suppliers. Amounts payable are classified as current liabilities if payment Is due within one
year 01 less. If not. they are presented as non-current liabilities TradÉ creditors are recognised initially al
transaction price and subsequently measured al amortised cost using the effe¢live interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity s conlraclual obligations expire or are discharged or
cancelled
1.12 Employee benefits
The cosl5 01 short-leim employee benefits are recognised as a liability and an expense, Ljnlèss those costs
are required to be récogniséd as part ol the cost ol stock or fixed assets.
The cost of any unused holiday enlillemenl is recognised in the period in which the employee's services are
received.
Termination benefits are recognised immediately as an expense when the charity is demonsliably committed
to terminate the employment of an employee or lo provide termination benefits
21

SIGHT CYMRU
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Accounting policie5
Icontlnuedl
1.13 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expensè as they fall due.
1.14 Leases
Rentals payable under operating leases, are charged as an expense on a slraighl linè basis over the term of
the relevant lease.
Critical acGounting estlmates and judgements
In the 8pplicalion ol the charity's accounting policies. the Iru5tees are required lo make judgements, eslimales
and assumption5 about the carrying amount ol assets and liabilities that are not readily apparent trom other
sources The estimates and associated assumptions are based on historical experience and other factors that
ale considered lo be ielevanl. Actual results may differ from these estimates
The eslimales and underlying assumptions are reviewed on an ongoing basis Revisions lo accounting
eslimales are recogni5ed in the period in which the estimate is revised where the revision affe¢ts only that
period. or in the peiiod ol the revi510n and future periods where the revision affects both CLJrrenl and lulur&
periods.
Donations and legaci&s
Unrestricted Unrestrided
funds
fLJnds
2023
2022
Donations and gifts
16.637
12.732
-22-

SIGHT CYMRU
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Charitable actlvities
2023
2022
Counter sale5
Sundries
Services
Grants
2,233
4,725
372,644
125,317
3.213
720
346,390
61,587
504,919
411.910
Analysis by fund
Unre5tiicled funds
Restricted funds
6,958
497,961
3.933
407.977
504,919
411.910
Services and grants:
Aneurin Bevan University Health Board
Caerphilly County 8oroLJgh Council
Cardiff Council
Monmouthshire County Council
Neath Port Talbot County Council
Torfaen County Borough CoLJncil
Vale of Glamorgan Council
The National Lottery Community Fund
WCVA
Cardiff University
Groundwork UK
GAVO
Community Foundation Wales
People's Postcode Lottery
60,247
48,373
82,267
61,126
46.593
53.047
59,385
34.848
50,000
1.000
1,075
60,475
38.172
41.881
58,494
45,888
56,969
55,500
24,750
4,350
2.000
19,500
497,961
407.977
23-

SIGHT CYMRU
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2023
Other trading activities
Unrestricted Unrestricted
funds
funds
2023
2022
Fundraising
Shop income
3,367
3,478
1.977
Other trading activities
6,845
1,977
Investments
Unrèstrictèd Unrèslii¢led
funds
funds
2023
2022
In¢ome from Iisled Investments
Interest receivable
24,439
2,039
23,064
231
26,478
23,295
Ralslng funds
Unrestricted Unrestricted
funds
funds
2023
2C122
Fundraisin
Fundraising
and blicit
507
2,049
Operating charity shops
7.867
3.364
3.428
11,738
5.477
24-

SIGHT CYMRU
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Charltable actlvltles
2023
2022
Staff ¢osls
Depreciation and impairment
Services
Contract costs
376,048
7,977
7,892
40,053
347.02
8,995
5.170
35,673
F li
Insurance
Light and heal
Printing post and slalionery
Sundry
Repairs and maintenance
Travelling and subsistence
Other $18ff costs
Equipment hire
3,318
5,707
7,701
4,186
3,942
14,996
1,249
998
2,811
3,122
6,080
4.398
7,380
864
1,205
474,067
433.842
Share ol support costs (see note 91
Sh3re ol governance costs (see note 91
43,579
4,750
26,112
4,890
522,396
464,844
Analysis by fund
Unreslricled fLJnds
Restricted funds
19,226
503, 170
45,410
419,434
522,396
464,844
-25-

SIGHT CYMRU
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Support costs
Support Governance
costs
costs
2023 Support costs Governance
sls
2022
Staff costs
Repairs
Insurance
Light and heal
Printing, postage and
slalionery
Sundries
Travel cDsls
Bank charges
32.863
985
829
1,427
32,863
985
829
1,427
16,599
1,845
703
781
16,599
1,845
703
781
1,925
1,296
3.749
505
1.925
1,296
3.749
505
1.520
1.401
2.780
483
1.520
1,401
2,780
483
Audit fees
4,750
4,750
4,890
4,890
43,579
4,750
48,329
26,112
4,890
31.002
Analysed between
Charitable activities
43,579
4,750
48,329
26,112
4,890
31.002
Audit fees Includes paymen15 to the auditors of £750 for accountancy lees12022- £5001.
10 Trustees
None ol the trLJStees loi any persons connected with them) received any remunération or benefits from the
charity during the current or prior year.
No trustees were reimbursed lor expenses during thé current or prior year.
11
Employees
The average monthly numbei of employees during the year was..
2023
Number
2022
Number
21
19
Employment costs
2023
2022
Vtsge5 and salaries
Social security costs
Other pension costs
375,878
23.681
9,352
336.922
19.147
7.556
408,911
363,625
-26-

SIGHT CYMRU
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 31 MARCH 2023
11
Employees
(Continued
No employees received emolLJmenls in ex￿$$ of £60,000 during the current or piior year.
KÈY management pÈrsonnel
The total emolumen15 and benefits received by the key management personnel during the year was £164,316
12022. £82,995).
Pensions
The company opeiales a defined contribution pension scheme. The assets of the scheme are held separately
from those of the company in an independently administered fund. The pension cost charge represen15
contributions payable by the company lo the fund.
The total contributions paid by the charity during the year ltslalled £9,35212022'. £7.5561 £1.594 was
outstanding at the year end12022. £nill.
There were no employees whose annual remLJneration was more than £60,000
12 Net gainslllossesl on investments
Un￿strIcted Unrestricted
funds
funds
2023
2022
Revaluation of Investments
Gainll105sI on sale ol Investments
122,2831
19,8171
2.358
39,954
132,1001
42,312
13 Tangible fixed assets
LÈasÈhold Fixtures and
land and
fittings
buildings
Total
Cost
At 1 April 2022
Additions
457,243
18,897
1,912
476,140
1,912
Al 31 March 2023
457,243
20.809
478,052
Depreclation and impairment
Al 1 April 2022
Depreciation charged In the year
29.212
5.386
11,937
2,591
41,149
7,977
Al 31 March 2023
34.598
14.528
49,126
Carrylng amount
At 31 March 2023
422.645
6.281
428.926
At 31 March 2022
428,031
6.960
434.991
-27-

SIGHT CYMRU
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
14 Fixed asset investments
Listed
investments
Cash in
portfollo
Total
Cost or valuation
Al 1 April 2022
Additions
Valuation changÉs
Cash movement
Disposals
687,517
124,938
132,1001
19.437
706.954
124,938
132,1001
18891
1128,7741
18891
1128,7741
At 31 March 2023
651.581
18,548
670,129
Carrying amount
At 31 March 2023
651,581
18,548
670,129
Al 31 March 2022
687,517
19.437
706,954
Fixed asset investments revalued
The book cost of the fixed a55el investments was £631.750 as at 31 March 202312022.. £646,452).
15 Financial Instruments
2023
2022
Carying amount of flnancial assets
Instruments measured al fair value through profil or loss
651,581
687,517
16 Stocks
2023
2022
Finished goods and goods for ie5ale
6.514
5,681
17 Debtors
2023
2022
Amounts falling due wilhln one year:
Trade debtors
Other debtors
67,881
5,440
91,591
4,478
73,321
96,069
-28-

SIGHT CYMRU
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
18 Creditor5'. amounts falling due within ong year
2023
2022
Notes
Other taxation and social security
Deferred income
Trade creditors
Other creditors
Accruals and deferred income
18.367
17,877
39.000
4.491
19
490
1.594
20.166
7,598
40,617
68.966
19 Government grants
Deleried income is included In the financ181 slalemenls as follows..
2023
2022
Deferred Income is included within..
Current Iiabililies
39,000
Movements In the year..
Deleired income at 1 April 2022
Released from previous pèriods
Resources deferred in the year
39.000
139.ODOI
39,000
Deferred income al 31 March 2023
39,000
29-

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000
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SIGHT CYMRU
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 31 MARCH 2023
21 Designated funds
The income lunols ol the charity include the following designated funds which have been set aside out of
unrestricted funds by the trLJStees for specific purposès
Balance at
1 April 2021
Resources
expended
Transfers
Balan¢È Hl
1 April 2022
Resourc85
expended
Transfer5
Balance at
31 March 2023
Fixed asset
fund
11,333
13.7861
250
7.797
12,7681
1,912
6.941
11,333
13,7861
250
7,797
12.7681
1.912
6,941
Fixed asset fund
This fund represents the net book value of the charity's unrestricted fixed assets.
32-

u>
(o
7J P)W

SIGHT CYMRU
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
23 Op6rating lease commltments
Al the reporting end dale the charity had oulsl8nding comrnilments for future minitllum lease payments under
noll-cancellable operating leases, which fall due as follows..
2023
2022
Within one year
Between two and five years
In over five years
6.500
27,046
76
33,546
81
24 Related party Iransactlons
Bablin Molik ICEOI is a150 a councillor of Cardiff Council. The charity received £82,267 12022.. £41.8811 in
funding from Cardiff Council. The CEO was not part of any decision making process regarding the funding.
Amounts outslanding al the year end totalled £nil12022 £37,000).
There were no other related party transactions to note
2S Cash generated from operations
2023
2022
(Deficilllsuipus loi the year
111.3551
21,905
Adiuslmenls for..
Investment income recognised in slalemenl of financial activities
Lossllgainl on disposal of investments
Fair value gains and losses on investments
Depreciation and Impairment ol tangible fixed assets
128.4781
9,817
22,283
7,977
123,2951
139.9541
12,3581
8,995
Movements In working c3pilal".
Ilncre8selldecrease in stocks
DeGreasellincreasel in debtors
Increasellde¢reasel In creditors
(Decreasellincrease in deferied Income
18331
22.748
10,851
139,0001
1,239
127.9671
110.4921
39.000
Cash absorbed by operations
14,1901
132,9271
26 Analysi5 of changes In net funds
The charity had no debt during the year.