SUPPORTING PEOPLE WITH SIGHT LOSS IN WALES Sight Cymru CIO 01495 763050 PO8TMAM•SIOHTCYMllU.QItG.uK VIWVI.SIOHTCYMAiI.ORO.UK REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 Sight Cymru's trustees welcome Ihe opportunrty to outline the Work of the charity over the last twelve months, plans for the future. and the financial report for lh8 year ended 31. March 2024. The Truslees present their report with the financial statements of the charity having adopted the provisions of the Statement of Recommended Practice {SORP) 'A¢counling and Reporting by Charities. issued in January 2015. Sight Cymru Contents of the Flnancial Statements for the Year Ended 31 Mareh 2024 Pag• Chalrman'* stat•m•nt Report ol th• Trustws 2 10 12 Report of th• Ind•wnd•nt Auditor• 13 to 14 Stat•m•nl ol FlnancS•l AetlvltS•1 15 Balane• Sh••t 16 Cash Flow St•t•rnonl 17 Not•s to thè Cash Flow Stat•m•nt 18 Not•s io Fln4n¢lal St•t•m•nts 19 10 27 Si9ht Cymru Ch•irrnan's Slateme fDr th• Y•ar End•d 31 IAarch 2024 Introduction This rèport oullines ofth• Fnc¥editk of Stght for ￿ year ￿J1￿9 Marth 2024. Established r￿re than 150 years ago and beL¥rne CharftAble Ineuporated Oryank%abc• in 2017. We take Ihis o)Fothnity lo prDvNle rmjr thanks trj all those who havg rnade this year a success indudfftg staff. volunl8w5. trustees. pathers, 1)Jnders. tr￿nmI¥s1)nW5. SUPP(xtws and most importanlyour¥efyTh uswB. RNIB ￿port statè Ihere are over 110,oc￿ peoF49 lfving with styt loss in ￿05. Thè Cerbficats Imp8innent ICMI 18 usèd to rocc>rd patients sight irnpairment ISI) or as severety 5¥hl impaltsd ISSII. wth FOD8nl eonsent an(J s￿ne¢ by a wnsultsnt ophthalmolDJist. the CVI is Ihe formal Mtiftalion to kxal authorilres kn assess noeds. Wdsh Gjvernn￿nt r•ported jusl bel 1400 registered CM in 2012113 and this tihJe45ed stsadlty lo ovèr 16CQ in 2019-20. I￿11$¢ the numbèr of people regiSte￿d vAth sight impaimenl is u￿d as a marker for s>Jht impairment wpulabJn, these fyures are ngt concj￿¥6 and do Th>t wovide th8 fv11 picturè in terms ol numbgr of Feople INing wilh SW fo8$. Ovar 80% of poople regist•￿￿ ￿ suJht bss are 0￿r ￿ yeaws of age. Thg inereasè in a￿Ing F*¥ulation h¥ rn￿nt an increase in $1ght It6s population in Wales. StrwJ ink t*t*ten age aTrJ sh3ht kjss I￿nt the fc¢us of our ¥eryle8 was rnuch [￿r• gearèd lo otder age g￿up. H¢)wev•r. ovèr r￿Tht years Sight CyTnru has also ￿cked up a iise in sight loss In tre YoUr￿r age group and more eomplex need ras85 si9hl1958. Wrth knvea5ing numt•r of peopl8 slght loss and trjmfvity of r￿ad In sight 105¥ population.. thtr need for suroort and sÈrvic¢s ￿ grDwing imrrensety and we a￿ alw finding the neèd to èxtend types ol sejmce we a￿ offering. We like to thank au thw WI￿ dwtsd ￿me and knnd tr> us kn rA￿InVO supporting almost 7CQO ￿¢Ple ￿ slght10$8 In Wale$. Sight Cymru has 8xtendod *vrk on prvbynlkng wotiJabl• SW k)ss in rwatiom and •rvJaging Sd￿ wpn8 ¥￿h tyecarè and amorgst tsyTrmunths at hwh mk suth as rn1￿[ty •thnt cOmr￿niti•5, as we ktsJw tsver 50% of sight Kjss Is preventsbjo. Sight Cymw is aL80 wrykn"rvJ to go into C￿C$ again lo •rgagè young p8opk eyè c•re an¢1 nonnalise going for reoular tye tèst amongst pewe frtyn se1￿4 4e. ￿l￿e Ihè wevents￿ ￿$0 *thing wlth eornmunitKrys to Increase awaTena&8 of Sight loss and forrfsth impairm8nl fri8ndty crrnunlties. Sight Cyrnw has alrrKJst 7000 #ctiw uwr3 and has tsk•n ov•r 1 I(￿ to plu￿de on8 to oné sUPPJrt year. W6 ar• t8arn of22 stgff and orouThJ 70 a￿1ve Voluntée￿ whom have supp)rl¢iJ thg delivery of this Ihg y•ar. Slght Cyrnru ra1s8d ovar £12,865 through ftjndraisiro and don*￿￿ and o¥w£486.766 ￿ 9r8nt to thè work of lh• durfn9 th• y•ar to 8UPWt th• tharlO•8 cauu. With the Support d The Nouonal Lottery top up grarrt for co* of a￿1 pc￿ Ccth Lottory we abl8 to provbJ• a0￿￿•￿T 4upport for peoF4• to •n8ur¢ th8y are receMn9 tr￿1r •ntiu¢n￿ and sw. a8 mjny F•ot4• strugglthg wilh th• ¥lgnffi¢ant r58e h) cost of lfvthg. This report highlty3hls 8om? ol the inu•Jible wc¥k the dwrlty ha8 d￿N*￿d ow year. 11 dknxstr•t•s an ovgrylew of th* varlou6 s0fyi¢es providod includrng th￿e in ey• dintts. s¢ivice, communty training and developm8nL and alfvo￿trY and wellbeing. The r•wt presents an tyeNiew of the odmiTh5tration doknis •nd slwciure of the ooanlsÈiion. Finanrial Information Is prowdèd induding risk rnan89em8nt. the res•rye f4)fw. fvTrJing So1￿ 8nd the investh)￿t Wiw. Yinally our view for the future Is presènted. We s￿ woud of th• findin95 of ￿$ rewrts, arhl we are rfrghty prc**J ol Ihe subslanti* do to h￿P pooF4e with ght loss in Wales. Rhoda Williams Chair of Trustees Bablin Molik Page 1 Sight CYMTU Report of th• Trnstees forth¢ Year End•d 31 March 2024 The Iwstees presenl th8ir r8W)rt vrith Ihe financial ststèmants of the charity for Ihe year ended 31 March 2024. The trustees have adopted the provision5 Of Accounting and Reporting by Charities." Statemgnl ol Recommendèd Practic* applicablè to ¢harilies preparing thèir accounts in 8ccordance with the Financial Reporting Standard applKabfe in the UK and Republic ol Ireland IFRS 102118ffeclwe 1 January 20191. Who we ar•. and what w• dld, In th? yMr •nd•d Maweh 2024 Sight Cymru 15 an independènt org8ni3atson wth its headquartérs in Pontypool. South Wales. We also havè 8 ch8Tily shop ￿￿th resource centre located al Blackwood. We woth towards pr8venting awdable sight k)ss and helping p80p18 enjoy a good quhlity ol life de3Plte10sing their sight. ¢hanty objectNes ar• to= Support pèople in Wales who have. OrVA￿ are at li5k of, Wt Itss8" Collaborate with other organiSat￿nS ￿1h similar objectiv•s to make the ￿$t usè ol 8vailable iesourc&s.' Pr•vent avoidabl8 sight bss by raisiN4 •w•r¢wss. off￿1n9 training and prowdin9 infomation lo the public. to ¢ar•r8 and to prof•ssitin￿￿., Undertako r￿arch that pr•v8nts sWt10$8 or ￿able$ p8opl• lo remain indap8nd8nt after kysing th8ir sight. Sight cyrnru has almost 7CQO actN8 service usérs. In of k>cality 2023124 $•rvw users vtho ra￿1V01 one to one sorvi¢o Include.. 818anau Gwenl14771. 81idg8rtd151, Caerphilty114471, Cardrff12161, CamTrrth8nshlrè1111, Ceredigion1391, Gvrynedd171, D•nbighshire111, Herelordshir&131, Merthyr Tydfil131, Monmouthshire1981 I. Neath Port T#lbot12401. Newport110141, Pembrok8shir•131, Powys1261. Rhondda Cynon T8ff1161, Swans•a1141. Torf•en (76518ThJ Val• of Glamorgan16141. 1,400 1,fXIO 400 2￿ ,G4 OK pd Page 2 Slght Cymru Report of the Trusleès for the Year Ended 31 March 2024 Service users during 2023124 according to gender 65 To W4 117451 ￿ 70 To 84 I1￿) WII M T•7411151 UrthrthTr1s80} ￿ gSTo 10418181 ￿ SS Toll 14521 4JTo Sl12231 ￿ 3S TD44 {iaoI (19NI Service users during 2023124 according to age 75To14 D1.W2 Pag9 3 Sight Cymru Report of the Trustees for th• Y•ar Ended 31 March 2024 V+T*.Ewwn141 Wllll ¢*m1101 010 Service users during 2023124 according to ethnicity Service users during 2023124 according to religion D5,*1 Page 4 Sight Cym Report of the TTUStees for tho Yèar Ended 31 March 2024 urtTrM152141 ￿ Tr*wOseX￿ [6161 rKts Noi Wsn To DbdOSè IYI Z G•y101 LeSPknI31 Service users during 2023124 according to sexuality 052t4 8usln•s8 Support S•rvlc• The National Lomory Community Fund support lor c¥Jr WbJèniAg Vision proieci conlinuès to grow our in provonting sight loss thmugh engagement with school$ 8rKI cornmunit￿S at risk ol sK4hl Ios$ and a150 ensuring w• buibd more Inclu￿¥* and vision impaimienl fri*ndly Communities. Thè minority ethnic communits.és hèalth f¥ir saw ha5 Or￿ again pKked up signifKant mom•nl with ongagement from many more organis81ion$ working collectsvfrly to addrèss heallh inequalily and eNJaged ovèr 300 people with hèatth 8nd sell care. Widonin9 Vision project arranged a conlèren¢e on Transport and sight loss. Our panel of 6XP8rt Included Welsh Govornmenl pr6sentatlV9, Transport ol Wases, Suslrans and Community Transport. Many matters were raisad Irom wnference attendaès around transport accessibility for people wth vision impairment lo aid the locilitation lor a more inclusive transport system in Wales. Digital Inclusion Service 536 people r8eèiv8d support from our digilal In￿$10￿ $eM¢e. From advisa on phone apps to o)mput•rn, moble3, technologlcal devices allow¢ng vgic9 readeTr and magnifution. Commènls received regarding tha service.. 'Calum was v&ry hèlpful and kepl in IoLKh to chas8 how things were going." "I can see my computer a bit belter now and I'm happy about th8t." 'A lovely boy h&lpèd mè with my phone aThJ tablet. Page 5 Sight CYMN Report of the Trust••5 for the Year Ended 31 March 2024 Vislon Rehabilitation Ser¥Sce Sight Cymru provide SUPPOrt for people who are bhnd oi parlialty Sighted. Each programme Is d•lTv•Tèd around 8n individ(Jal's needs and aspir8tion$ but might typically include assistanctr to continue W0￿1ng. oiienlalion and navigation skills or using t￿hnOlogY lo mitigatè the di58bility. We c811 this work 'Rehabilitation for the Vision Impaired. IROVII and Sight Cymru is the largèst provider of the ROVI service in Wales, providing service in Monmouthshire. Torfaen, Cardrff, va￿ al￿ Neath Pc*t Talbol. Sohl Cymrn ROVI team have provided almost 4000 on8 to ona support during 2023124. 70% of people w￿1 re￿W¢d thè reported that their commLmttabon. I￿nfidenCe & wellbeing improved. 80% statad that their mobility and independence improved. Comments r•c•Md from servKe us8rB'. 'Sharon mada o big difference. Improvemenl in my confid•nc8. indepen(Jence and wellbeing" 'Evorything improved. Fanlastsc seNKe. Sharon mad• 8 big difterence lo my lifo." 'Mobility and independonco had gr•8Uy improved, thanks to Julie. 'Improvernent all around. Service us•r so happy with Sleph and Ihe service." 'Improved wellbeing and confidancè support frryn Ni¢ola' 'Cane training and road crossing wo$ $0 helpful. l am very iThJep8ndenl around my10¢81 •rea. I get out a k*t now, thanks lo Jagon. 'Jason provided cane training loi m•. It h9$ mado a hug8 drfIeTer￿e to mo. AJthou9h only m8rked as improved wellbeing, her eonfid¢n¢$ 8rKI independence has improved loo." C•¥• Story .30th October 2023 was 8 day that chan9at1 lifa •$ I know it. l attended an ophthalmc4ogy appointrnenl and w8S told I had k8r81oconu$, astigmatisms and cataract5 in both •y•s. It was 8 hug• SI￿￿. I knew my eyesight had d•t8riorated bul not to that extent. I w8$ giv*n a cortific81e ol vision impairmenl, told not to diivo ¥nd w•$ pul ￿ * waiting list for an 8ppointm•nt within ¢he NHS, I sal in th$ ¢8r with my husband P and we just loohd at •8d) olh•T and discussed what tha hock wè wèr• going to tjo. W8 live in 8 rural s•tting and not b8lng 8bl• lo drive w8s a hug8 loss ol ind8p•ThJ•nc• for mts. I w•$ alroady hawng probl8ms s•8ing to do jobs •1 home and had already bumpod my he8d a few lirnes nol being abl8 lo s8•. P had alr•ady d•¢itJ¢w know that therè is help out Ih•r&.' .1 was so nervous 8boul having traatmènt on my eyes. by Vicky and the stsff w&r• wonderfvl." 8 is liv+ng with s+gnificant sight loss and is registered SSI. ECLO diBrJJssed s•rvI￿8 during a dinic app￿ntrnPnt she wa$ att&nding wilh hor stsn. During discussions Ihe lollowng was id&ntiried'. - Although B had an Alèx8 device. she was stru991ing 8ccessirvJ oudio boG*s on it. A.C.E r*ferr81 done. - Low vision assessmént required. ECLO provKlèd a LVSW larg• prinl inlormation leafi•t and urged Mrs 8 to book an appointmanl on the way out of the ODTC. Mrs B had a LVA 2 weeks latèr. - Mrs 8 was 3truggling with t￿rydaY living acts'vili&s •nd w85 ¢aLrth￿S mokirvd hot drinks ind•pandtrnlty. oft•n ovorfilled when m8king cold diinks m8kin9 her more gnxious. Referral to ROVI mad¥ lor Independ•nt Living Skills. - AS Mr$ 8 is SSI, the ECLO d¢$cvssed a lighting ass¢s$ment of the hm. Referyal to Cam & R•p8ir dona.. fe8dba¢k tsl woth6 comploltd as follows.. Lighllng Improvements.. Da￿Ight bulb in bedroom 6. strip LED in living room al oppo$lt& end to exi81irwJ on•. LED lights undfjr kilchen cabinels Install n8w li9hl in balhrG*Jm. NB- Ih•r¢ is In existing light filb'w in 8hy•Ar cub￿10. whKh isnl s8f•. 11 di¥nl agrees th18 will be remov8d safely. Sensor bulb on landing Strip LED in bas6m•nt room Care and Repair 81$0 issued Mrs 8 a wrnonal lislenor and h•adphones. TW arn also loti￿ng Into gettin9 her AA rate Ilft•d. W•llbelng S•rvlc• The dernand on thè wgllbeing s8Thic8 has Continued to grow this y•¥r. lknr 1262 p8opl•. indudiThJ 277 sèrvico users. aeL8$sed our wellbeing servicès in the lasl year from 8laen8u Gwent. C88rphilly. Cardrff, N•wF4>l, CeredigKJn, Monmouthshire. Rhondda Cynon Taff, Neath Port Talbtsl, Torfaen and thè V¥lo. Talknng news.. 337 ￿0p1* r￿1Ved their Ictal n•ws on 8 memory stth every week. Ovr ¥oluntstrr8 do the naws rocordings and wo compilè all recordings on lh¥ memory slick and $8nd Iheffl to seThKe usèrs. Ring Around Service.. This h8$ primarily been a Serv￿ ￿ provided for wplè not very mobla and kjndy. This s•Mc8 $ignifscantly expandad duo to increasing d•m8nd and wilh support of èxtrwnety talent•d ¥￿unt4¢1. The seMc• has 350 beneficiaries. "Love my chats with Sue." 'Befriending s•rvi¢e, so nice to hav6 peopl? lo speak to." Club6'. Over 300 people engaged with our vision impaired clubs durng 2023124. S￿1 Cymru this year started Vl b￿S dub and also Vl Tennis. Blackwood club o¢Jtgrew its location and Ihe Mayor ol Black%w￿d is arrangiThJ for the dub to moet 81 the civic cèntr8. A ngw Club has baèn started in TTedegaY. The Clubs have engaged people in Blaenau Gwent, Caerphilly, Monmouth5hire, Torfa•n, Cardiff. Newport. Rhgnda Cynon Taff and the Vale. Paye 7 Sight Cymrn Report of the Trust•es for the Year Ended 31 March 2024 Emotional Support.. The emotional support officèr provKles telephone support for P80p￿ who may be finding mattèrs dtffKult and are in need to 8pe8k to som80ne vtho can l¢sten and und81star￿ Iheir thoughts and fears, someone vtho can support thèm through the difficult phase. 110 p80ple benefitted from this servicè during 2023124. Comments frc¥m s•r¥icè users. 'Sarah hèlped mè with my social anxiety." "Sarah was 8xe•llent arbd 50 very understanding and so easy to tslk to." 'Talking to Sarah helped rne deal with som• of my issu8s bgtterf Counselling.. 70 paoplè hav8 r￿1Ved iajunselling Serv￿ during 2023rd4 frcth ¥Kmss Blggnau Gwent, Caeyphilly, Cardrt. Monmoulhshiro, Newport and Povrys. Volunl8ering'. Sight Cymm Bnd our servico ￿nefit gr•aity from CAJr fabuh)us vdunt•8rs. Voluniw"ThJ and supporting ￿0p1& with sight loss also acts as a I•vgr in boosting people's wenbeing and th&ir confidence. We have afcund 70 8ctive volunle&rs supporting our wellbeing servicfrs, admirtislration work. training and ￿th1fi ou¥ Charity shop. We offer 8 fang8 of role and multipl& ways for volunteers to get involvèd to support the organIsat￿ meèt rts aim$. 11 would not have b8•n possiblè to ¢Jo this level of work withtsul our volunteern. We have this year 5tsrted eapturing #qualrty, drversty aThJ indusivè dala 8mongst our volunloers. SO% ol our volunteers h&v8 disability, 61°k are ov8r 65 yèars and 70Yo are female. 13% of tyjr volunteers are a￿0 to Commun￿OIe in Welsh. 3% 01 our volunteers bdong lo LGB TQ+ As tho diver5rty amongst lh8 d•mcwJr8phic5 01 Wales chang8s we would lik• to ensure we are abl• to engage wlh and understand Ihè néèds ol the wide rango ol commurntLO$ wo WO￿ with. &'ght Cymru provide training to staff and volunteers around equality, dwersty a)d Inc￿91¢n. 5% 3% 92% Ewlshts￿lIth/we¢￿M￿ihIrn lrithWK • AnyotFor Chart d•monstrating ¢h& r•ll91￿8 background of ourvolunt8•rs Chriai S5% Clh•¥ Chart demonstrating the religious bad(groJnd of tyjr vdunteers Page 8 Sight Cymru Report of the Trust￿$ for Ihe Year End•d 31 Mareh 2024 Advocacy Sight CYMDJ suppNt•d over 75 p￿pItr acrtss8 Blaenau Gwent. Monm(MJthshire. N8wwJrt. Neath Port Talbot. Vale and Torfa8n Io 8ccè8$ their entitjemant to walfar8. The support has enabled many to a¢￿sS their ftjll entillement and it also Ir￿udtrd providing tr8nsCrip￿.on$, arranging tenancies, debt management, and helpiftg p￿p18 to Kl8ntfy the right technology or equipmént Ihat helped them lead more independent Iwa$. Supporting ￿0P1+ s$rvw had 605 user in need of ajvocacy supp(xL "l ¢arried out an a$ses5ment on a dient vtho was using a foLxI bank. I managed to gel him hig￿rat& Attèndant ￿lowanCe of £108.55 weekly thèn appli8d rarer$ 811owance for his vthe of £81.90 a %%*•k whèn I cw1￿1 out my revw. they I havè now taken them out ol poverty. This comment gave m8 job 58ti$faction" Supporting PeO￿e Officer. andy hdped m• contact people to get some VKJrk done" "More money comlng in 80 I can do a little rnore now. il has mad8 8 r881 difference.- 'Statey sort¢d my money out lor me. A We￿h1 off my mind. B•tt•r finarKo5 eases the somewhar REFERENCE ANO ADMINISTRATIVE DETAILS R•glst•r•d CharSty numb•T 1171471 Prlnclp•l addr•s* Bradbury Housè Park Buildings Pontypool Torfaen NP4 6JH Tru•t••• Ms Rhoda Williams (Chairl Mr Dawd John Phillips IVic• Chfjlrl Mr John Richard Jam6s B8avan Mr Philip Stephen Evan6 Mr MatthewThomas Mr Jonathan Mudd MS Susan Hughes Profe83or Rachel North Mr Ali R4manujam Raghuram Ms Himalee Rupesinghe Audltgrn Haln•$ Watts Wales LLP Bank•rn Sontand8r Inv••tm•nt Ad¥l*•r• Rowan Dartington Limrt&d Colston Tower Colston Street Bristol BS14RO Cuslodlan of Inv•*tm•nts Rowan Dartington L¥niled Colston Tower Colslon Street Brist BS14RO ChFof Ex￿￿11¥? Offi¢•r Dr B8blin Prtol Page 9 Sight Cymrn Report of the Truste•s for the Year Ended 31 March 2024 STRUCTURE. GOVERNANCE AND MANAGEMENT Govemance The charity is govemed by its constrtutKJn. adopted on 310 February 2017 and available on request lo the registered Office. Its membership •lect up to 15 tnt5tees. who r￿allY hold oifth for a term of three years, but may again stand lor re-olèction for one further tarm. The organisation recognises a need lof a divers9 Board of Trustees and th8rg is a balance betsveen ihose with direct experience of sight Ioss 8nd those wth sknlls relèvant to Ihe development of the Chaiity. Skills and axpertise on l)08rd indude Managem￿1. èyè-rare, heallh. ed￿al*M, law And govemance. Skills-audits ¥rg undertaken, and whero thèrè arg 8horV8lls in 8ki115 those are advwb.strd in order lo fill thos• areas. We welcome people vtho would like to t￿CC￿e a truste• to wsrt and rneel *ith staff. seNce 8nd othgr trustees. Members of the board of Trust8è$ give their time volunlarily 8nd ￿1¥0 no beneffls from the charity. Any oxpens85 reG￿lMed Irom the charity are set oul in not• 9 to Ihg accounls. Or9anl8atlonal •tructur• Sight Cymw is a Charitable Irwrattd 1>gani￿ll0n. regist•r8d on 3tO Fèbruory 2017. tt was previously been 8n unincoTporal8d charity. 214215, known as Sight Support and had been in existèn￿ under different n8m8s sincè 1865. The charity retains tha protected names Gwent Assc*iotion lor the Blind. SvJht Suppc*l and SWI Support CYMN. Tho Charity's Chief Executbv• is rewnslty• for the day to day op8r81￿ of lh• ¢harity and manages th• sthff of thts on behaN of th8 trustees. Slghl Cymru'B Stsff and volunte•rs ar• ils greatest a&￿t and wa Aim to support o*h employe8 and voluntè&r lo reach their potantial. This includes encouraging thèm lo take up training opportunities and w¢ are pleased to report that this year we have supportèd 8 member of staff to und8rtak• rèh4bilil8bon training. This yéar th• staff pkgnniThJ meatsngs hav8 boon focussed on $tr¢ngthgning the team and setting valuè b8s¢d prncbse. Sthl cyThru valuas have b￿￿ defined as.. SUPPORTIVE.. W? al Sight Cymw do our b•$t to support Ihe oryJani98llon (Si9ht Cymw}, 8upwt one and anolh8f 8Ad also ¢yJr volunta•rs, p8rtn&rs. supporteTs and most Smport•nty our service UBefS. W• •xp8cl POTsonal grovAh and w•lln•$8 will be supportèd in r•lurn, RESPECT.. W• valu• •o¢h other and all pe￿• affits'atad wrfh Sight Cymw W￿uding U8•rn. volunleeTS, partn8rs, supportors, funders, commls$ion•r$ 8ntJ board. We earn r6sp8Ct and appro¢ialv)n through our loyalty, prol•$$ionalism, reliability. 8ceounl8bility and trustworlhin$$$. COMMUNICATIONS.. Wg value and apprec¢at• exc•llent commyni¢alion ￿leMallY and ext•m8lly and understand communications needs input from all sid•s to Wofk. Our invdvement and enga9•m￿l is irnportanl in strength8nin9 Sight Cymru en98g8m•nl gnd awareness Sn th• community •xl¢malty. OPPORTUNITIES.. We valuè •qualrty, arxe53ibilily an(J opporluniti•s for all 8nd understand our ml• in ¢rg8ling, 8dmini5trating and improving opportunities lor our$efves. Ihe crfgani8alion, othor slaff. vduntg•ws, ￿￿10e users and 811 paoplo affiliated with Sight Cymru. As al 311t March 2022 th• slaff worknng vthh Ihè charity wer• as fdk)vA'. ¥upp•rt $upp•rt 11•¥•g•r tr•t ECLO S•n710• W•llb•lMI ROVI A••l•tlv• o•ntrn 4 T•ehnol•gy fundr*l•kn¥ •ffi••r X2 Em•t10h￿ Supp•rtlno $*pvrt p•opl• ECLO ROVI ••Thlo• 1 x C*rllft Fir 4 X V•1• FIT ljt NPT Fir Ix Tvrf••n Fir 2X M•nrn•uth Page 10 Sight Cymru Report of the Trusteès for the Year Ended 31 March 2024 Our risk register 15 reviewed at Trustees Meets"n9 at regular intervals and is è Iwing d(Kument Ihat sits wth the extrcutiv85 of the organisation. Trustees are responsible for evbsuring ov8rsighl and ensure appropii8te contro15 are in place lo pfovid* reason8ble a55urance against fraud and error. Our ethical pdicy is available on requèst in Wèlsh and Er•Jlish and sets out Ihe ettK)5 that undgrpins the work of thè charity. Other policies that help guide our are reviewèd ragularty and fomwlty oversean by Trust8e5 8t their firsl meeting of thch financial y&ar. R88orv?8 poll¢y In 8n uncertain lundtng cycle. the charily Prudent￿ considèrs that the reserves should •nèblè th& organi$8tion lo trade for 9 months in Ihe •v8ril that no turther funding was available This would enable the charity lo meet ils redundancy 118bility as well as any othèr fin8ncial commilrnents in the event that it were to cèasè trading. Reserv88 h91d by the ch8rity include the leased property. Bradbury House. Whilsl the current net book value is £416.776 this sum will depreciatè ovar tha term of the lease. The charity also held additK)nal reserves ol £￿1,425 as al 31st March 2024. Whilst Sight CyTnru do85 benefit from significanl r•serv&s. a porl of the reserve is planned lo be utilis8d for fvlure projects lo divafsify income lor thè charity. Fundlng sourc•s A mixed portfolio of in¢om¥ $tr¢¥m$ provKles the funding necessary lo hglp t￿ tharity operaie. Sources includè (x)nlr8cts, grants. fundraising events, donalitsns and earned income. We have recently rècruited co-operale se￿ice manaoèr to Strengthen the organisations diversity and tndusion, cornmunicatson5 and fundraising and rè$&ar¢h and innovation strands to di￿r$ify the charities income and reach. Inveslm•nt pollcy and obJéetlv•i In accordance wth th8 constitution, lund$ ownsd by the chafity vknich are not r•quIr￿ for working capital are hald in investmgnls Ih81 would not have a delrim&ntal eff•ct on sight. Typi¢ally, Iherefore. we do not hold in￿stMents in tobacco or alcLJhol companitr¥. Funds hgld Dèl¥il$ ol the charityl funds are shovm in nol• 18 01 lh¥ financial 5tatemenls. R•sult8 Th¢ ¢h8rity'8 nel movement in funds lor the Amount¥d lo #n increase 01 £36.78512023- a r¢duction of £11,355). Plans for th? Futurg Sight Cymru has 51renglhened its intem81 commilmfrnts and aecountsbility and impaci assessmants. Thi$ forms slrong foun¢Jalion lo start on èxpanding. In recognition of struggling and reb"rirKJ ROVI wowk lorce in Wales. Sohl Cymru will in future support in training new ROVIS in Wala$. There ar8 a numb¢r of exciting new ven1v￿$ we are hoping to &Wore in research and innovalion in futurè and this will involv8 working In ctsllabor8tion with academics. heallh and social care prol•ssionals and lechnology companies. Wa have hope to build our connections wlh r*s8arch and te¢hnology lo improve our role in fulure innov¥tion and irnprovement in service lor people with sight 1055 in Wales. We are working to obtain Invèstmènt in Volunleerin9 Award. We valuè our v(Aunteers greauy. they are core part of Sight Cymru. We want lo ensure w8 are doing all that can be done to ¢nsure our volunteers af6 lookèd 8￿r and our ￿MMItMent to voluntèers are well received. Sight Cymru will be working dosely with loeal councils 10 gmbrace a￿StIllitY ant1 th• expansion of our Vl frEndly communitiés. This will also engage sight cymw wilh olhervl organisats.ons to wolk collat)orativety to assure joinlly we provide much needed services across Wales for pètsple wilh Sight loss. Page 11 Sight Cymru Re￿rt ofthe Trustges forth• Y•ar Ended 31 March 2024 IN CONCLUSION Sight Cymnt a leading organisal.on suppcrt'ng pewe with sNJht in Wales and c4)nlinu¢ lo determine inrwtive ways to develop. It is to tre credit of our staff, ¥￿￿nteers. the inc¥eased use of iechnojogy w)d fim) restr¥int ¢Yi $wdin9 that the organis8tion r8mains strong. Sight Cymnj wijl ojntinue to Iwk for and innovativg methods of wov¥Jw¥J so Ihat petpje ￿th sight k)ss can rega rnd•pend8rtc8, an¢J we will maintain ourefforLs to prevent avc¥dable s•Jht kjss. The TnJst8es are Sndebted to the many SlVF(¥kn. vdtjnteers and othèr $tskeh￿d¢rS have helped with monÈy. time. ènergy. and ideas. The charity is w￿ety ar￿n￿edged as t)ne athreves far than ¢t8 lirnated resources w0￿d indicate, aTrJ ￿thOut its dedicated volunteers, the charity coukl not he¥) so many pec* or rYJ sbhL Thè tru5tg&s would also Itkg lo Ihank the Slaff th? ch￿ E¥￿tr￿• Offiw ¥ft#) L¥)ntinw to prwts •ffeckn 80hJbons fo pronk)t• thg organis•tion's wo￿. STATEMENT OF TRUSTEES RE8PONSIBILmES The trusteè5 are resp)n&b￿ for pi•pathg thè Report of tho Tru*o•s aThJ ts fi￿ndar ststgmènts in aoyydance V*rth •ppllegbl8 Jaw and United ltingdom Ganerally Aceeptad AttwntirKJ Pracdco. The Lgw awicetts to eharlthes In En9W ènd Wajes. tht Charrues Ad 1993, Charity IAcx>)unts and Reports) Regulabons 2008 an tha proMsions of the tfust deed requires the tnJstees to yepar& Stattmenrs for gach financy81 year which uwve a true and fair vlew of the sfate of affalts of the eharity aTrJ of the Irwwng rwurc85 ond apph.catiG￿ of r•swK¥s. induding th* inc4wng and expendltur•. ofthe rtharlty forthat p•riod. In Fyeporfng tIM)se s1akn￿nts, the Injstees a￿ requSred to s•lect suitable aCc￿￿ting FoIKigs arKI awy tr￿ffi consist￿tr. obs8Nt th• rnethods and Pri￿pIeS ift thè Charity SORP., mgke judg•ments and estim8t•# that are ￿aS0n801e and prt￿. Prepa￿ the financial ¥tat•rrents on the gory Lvn(xm basi% unksg it is inapproprière to presum• Ihat ts dwrity wll conb.nue In tsu￿. Th¢ tnt$tee$ am reSp￿￿•[e fc* k••pry at￿Inti￿a rKord5 t•thi¢h ¢&scaose *7th rnasonable accurary 8t any fy'me Ihe fjnandal position of the eharlty and lo enabk thérn kn ensure Ihal ts financial $tat¢m•nts c¢rntyy ￿ th• Chariles Act 1993, lh• Charity IAce¢unt8 and Repjrtsl Regulation5 2008 and the provIs￿n$ of the trust deed. Thay arg 0150 reS￿nsibl0 lor $8f8gU8fthrKJ the assots ol the tharlty and hw for taklty reasonable sleps for th? pr•venkn 8rbJ dot¢(*on offvaud 8TrJ oth8r irr8gulariti?s. The tN51￿8 have compll•d Mlh the In Se¢¢K￿ 4 of ts Chprl¥és 2CIJ6 to du• raqard to wldanc• pL￿11$he0 by the Charity Commi¥slon. ON BEHALF OF THE BOARD.. R Williams- Truste¢ Dale.. Page 12 R•port of the Independent Auditors to thè Trustees of Sight Cymyu Opinion We hav8 8udited the fina￿al statemènts of Sight Cymru (the 'chariWI for the year ended 31 March 2024 which comprisè the Statement of Finanaal Activities, the Balanc2 Sheet. the Cash Flow Statem8nt and notes to the financial 51at8ments. including a summary of significant a￿A)untIng policies. The financial reporting framewot* that has been applied in their p￿paratiOn is applicablè law 8nd United Kingdom Accovnting Stsndards (United Kingdom Generally Accepted Ac¢ounting Praclice). In our opinion the finanual statements". giv8 8 true and fair v￿W ol tho stato ol lh8 chariV5 affairs as al 31 March 2024 And of its irKoming resourcès and application of resources. for Ihe year then end8d., havo been properfy prepa￿ in accordancè with United Kingdom Generally Acceptèd Accountin9 Practice.. and hav8 been prepared in accordance wlh th* r8quifement$ of the Charities Acl 2011. Basls for oplnlon Wè conduct$d our audit in accordance wilh InttsmatK•nal Sl8ndard$ on Audiling {UKI IISAS IUKII and 8ppIic8ble law. Our r8sponsibilitlg5 under those standards are lurthèr described in the Auditors, responsibilities Igr the au¢Jit ol the financial statèmènts sèction of our report. We are indeptndent of the charity in acc4)fdance with thè èthKal requirements that are relevant to our audit of the financial stalemenls in the UK, induding th8 FRC s Ethical Standard. and we have fulfilled our other ethical responsib11itie5 in accordar￿ with the￿ requiremenls. We believe that Ihe au¢Jit evidènce we have obtained Is suffic¢8nl and appropriale lo provlde a basis lor oui opinion. Concluslons r•lat4ng to going con¢•rn In auditing the financial stat8ments, we have CO￿lUded Ihat th• tw$teg5' us? of the g￿ng cL)ncem ba$1$ of acxounting in the preparatson ol lh¢ fin8n¢ial statemenls is app￿pn"81•. Based on th8 work wè hav4 performed. we have not id•n1Jr￿d any maitrrial uncertaintses Telating to 8vanls or conditions that. individually or ￿lI&¢tIV&￿, may casl significant doubl on Ihè ¢hanty's ability lo continue as a going eoncgrn for period of al lèast tsY•lv¢ months from when the finanaal statèm8nts #re auth0ri5ed for issue. Our responsibilitr'es and thè r$Sp￿stb1lrt￿5 ol Ihe trustees r•sp8et to going concem are described in tho r¢levant sections ol th¢s report. Oth•r Inforniatlon The trustees are responsible lof the other infowmalK)n. The other infomia¢KJn eompri$?s the infomalion includèd in the Annual Report, other than lh& fina￿181 $14t•ments and ouf Report ol tha Ind•pent1•nt Auditors Ihereon. Our opinion on Ihe financial slat•m8nts doe$ not cover the olher inlomMtion and, •xc¢pl lo the ext8nt otherwis8 éxplicitly Slated in our report, we do nol expr•ss any lorn of 8ssurance condusion Ihaf80n. In connection wilh our audit ol the financial slatemènts. our ￿SpOnsIbl11ty is lo read thè oth8r lnlormalion and. in doing $0, con51der whether the 0th6r information is materially inconsislenl with Ihe financial statemenls OT our knowlèdgè oblairned in Ihe audil or otherwise app•ars to bg malerialty misslaled. If we Identify such material inconsistenc￿S or hpparent material mi5St8tements. we ar& requir8d to datèrmine ¥thelher this gNes rise to a m8tenal misslalemenl in the rinanci81 st81èrn8nts themsefves. 11. based on the work we have perfom)ed. we conclude that there 13 a materkal misst8iamènl of this olher infom1al￿n. we arè rèquirèd lo reporl Ihal facl. We have nothing io rgporl in Ihbs regard. Matters on whleh we are regulred to r•port by •xe•ption We havo nothing to r8POrt In respecl ol Ihe follo￿ng matters wh•r8 Ihtr Ch8ritiè¥ lknounts and R&portsl Regulations 2008 requires Lts lo report to you if. in our opin¢on'. the inlomalion givèn in the Report of Ihe TnJste&s is inconsisltrnt in any material rnsp8et wbth the financial slalements". or sufficient accounting r8cords hav* nol been kepl.. or the financial slat6mentS 8re nol in agreement wilh the accounting rècords and returns: or we have not rec$w6d all the bnlowrnatKJn and explanations we wuirè lor Our 8udit. ResponslbllltSes of trust••$ As explained more lully in the Statèment of Trustees. Responsibil￿"8$. thè trustee$ 4re responsible for the p￿paration of the linan¢ial statements wvhich give a true and lair view. and for such intemal control as the Iruslees determine is necessary to enable the preparation of fin8ncial siaiements that are free from mat•rial mi55tatement. whether due to fraud or error. In preparing the financial stalemenls, the trustees 8re responsible fof assessing thè ch8rity's ability to continue as a going u)ncern. disclosing. as applicable. matters related to going o)ncem and using thè goin9 concem t)asis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or havè no r8alisti¢ alternative but to do so. Page 13 Report of th• Independ•nt AuditOW5 to the Tru5tee5 of Slght Cymru Our responsibilities for th¢ audit of the financlal statements W8 havè be8n appointed as auditors under SeclK)n 144 of the Charits"es Act 2011 and report in 8¢cord8nce wth the Act and rel8vanl regulations made or having effect IhÈreunder. Our obJectives ar8 to obtain ￿aSOnable assurance aboul whethef the financk81 statemènts as a whole are free from material mis5talement. whether due to fraud or error. and lo issue a Report of the Indepèndent Auditor5 that includes our opinion. Reasonable assurance is a high level ol assurance. but is not a guarantee that an audit conducted in accordance with ISA5 IUKI will always delecl a material misstatemènt when rt eX15ts. M15Statements can 8rise from ITa¢ or error and ar8 consider8d material il. indiwdually or in the aggregate. Ihey could raasonably bg expected lo influence thè economic dècisions of user5 tsken on the basis ol these financial statements. Thè extent to which our procedures are capable of delectsng iwularilies. including Iral￿ is dgtatled below.. Our planning procedures identify the le981 and regulalory frameworks applicable to th8 operations and fin8nci81 statsmènts ol th8 company. These a￿ revwed inlemalty the audit team Induding ralèvant industry experience and •xp6ctatK)ns as well as gXt8rnally wth the client management. The key laws and re9ulations we con5id8red in this context wer8 th& ChArili8s SORP IFRS 1021 'Accountsng and Reporb'ng by Chanties.. Slalèmènt of R8cornmended Practice applicable lo charities prèparing their accounts in accordance wth the Financkil Reporting St8nd8rd Applicable in thè UK and Rèpublic of Irgland,, UK GAAP IFRS 1021 and relevant tax legislatson. Once identifi8t1, w& assèss thè risks of rnateri81 mi85tatements in Telatson to the laws and regul8tions, Irrègularilie8, including fraud and adjust our lesting accordingly. Our audit prwedures include.. Discussing Wrth Trust8es 8nd m$nogtrrn¢nl wh￿h are89 of the business they bel￿ve to be moi• suse•ptibl8 to fraud. and wh8th•f Ih8y hava any kno¥vl8d90 or suspici￿ of Iraudulent acliwU8S.' Obtaining an understanding ol the k•y controls put in place by Ihe company to address risks identifiod, @s￿SSing the effectivenèss ol Ihose and discussing how these are maintsined and monitored inlemally., Assessing the risk ol managemènt ovarTid& and review and lesbn9 of journal entries mad8 into tha accounting system.. Challenging assumptions and judg&m•nts mad8 by th8 company ifi rdalh?n to the signihcanl accounting estimate5 employed in the preparat￿n ol th• finantial stai•mènts: Discuss¢ng wilh Trus168s aThJ Managémènt Ihè1è9al an¢J rngul•tory oblwalK)ns of the business and whether Ih8y have any knowledge or suspicion of non compliar￿. D•spile the 8udit being planned and conducled in 8Ctordance ISAS IUKI tharè r•maing 8n un8void8ble risk Ihal material misstatements in the financial slalem8nis may not bè d6tectéd owing lo irnherent limitations ol the audit, and that by Iheir very nature, any such instances ol Ir8ud or irr8gulants•s likdy involvè ¢ollusion, forgery. intentional misrepresentsts'on, or Ihe overnde ol inlemal contrc4s. A lurther d?¥criplion ol our responsih'lities lor the audit of th• financ481 stst•ments is locatod on the Financial Reporting Coun¢il'$ w¢bsit¥ 81 www.lrc.cfg.ukjauditors￿sponsIblI￿18s. This descript¥￿ foms part of our Roport of the Independent Aud¢tors. U8• of our f•POrt This report Is rnade solely to the Charity's trustees. as a body. in accordance wth Part 4 01 th• Ch8rits'8s IAccoun15 and Reports) Regulations 2008. Our audit work has been undertaken so that we might stale lo the charity's trustees those matters we are required 10 State to Ihem in an 8uditors' reporl and for no olher purpose. To the fullest extant pèrmittèd by law. wts do not 8CCèPt or 8s$yme reSp￿SIbIlitY to anY￿e other than the charity and the chafitys trustéès As 8 body, lor our audit work, lor this r8port, or for thè opinion5 we have fO￿ed. Haines Watts Wales LLP. Statutory Auditors 7 Neptune Court Vanguard Way Cardiff CF24 SPJ Date: .. Page 14 Slght Cymru ststement of Financial Activities for the Y•ar End•d 31 March 2024 2024 Total funds 2023 Total funds Unr•$tricted funds Restri¢t•d lunds Notes Incom? and endowmtnt5 from Donations and legaci•s 12,865 12,865 16.637 Charitable actlv5tles Cor8 4.788 481.978 486,766 504,919 O¢hgr trading activities Investment income 17.331 32.373 17,331 32,373 6.845 26,478 Total 67,357 481.978 S49,335 554.879 Exp•ndltur• on Raising funds 9.186 9,186 11,738 Charltabl• aetl¥lil•s Cor8 36,872 487.187 524,059 522,396 Total 46.058 487 187 533,245 534,134 Net g¥inslllossesl ￿ investmènts 20.695 20.695 32.1001 NET INCOMEIIEXPENDITUREI 41,994 15,2091 36,785 111.3551 R•con¢lllatlon of funds Total lunds brtsughl forward 859.431 421,985 1,281,416 1,292,771 Tot41 funds ¢arrled forward 901.425 416,776 1.318.201 1,281,416 The notes lom part of these finarKxal slalements Page 15 Si9ht Cym 31 Mar¢h 2Q24 2024 Total fund¥ 2023 Total tund$ funds lunds Fix•d assets Ta￿Jible assets Investments 12 13 10.712 687.942 416.776 427,488 428,926 670 129 416.TIB Current asmts Stoeks DebtOTS Cash at bank and in hand 1.115.430 1.099,055 14 15 6.918 69.156 6,918 69.156 6,514 73.321 743 143 244,(4)9 Cr•dltors AmrAmts frjlrq due *ithln on8 year 244,009 222,978 16 141238) {41.238) 14Q,6171 N•t ¢urr•nt •u•ts 202.771 202.7T1 182361 Totsi Ms•ts l•M ￿rr•Trt li•blJFtI•• Jl.425 416.776 1.378,201 1,281.416 NET ASSETS 1,425 1.318,201 FundB Unf¢8trided fund8 Restricted funds 1281416 18 9)7,425 8S9.431 Totsi fund¥ 1 318.201 1281416 The fin•nci 1 ststernents wére aFproved ty th• Boarf rf Tnote•s •[￿ authorf8ed fDr IBS￿ on ....o..4....1.o.Z4 and wer* signed on tts 0¢h￿fby'. R Williams- TDJ8t•è Thè no￿ foryn part ofthese finan(ial stslements Paqe 16 Sight Cymru Cash Flrm Statement for the Year Ended 31 March 2024 2024 2023 Cash flows from operating activitiwa Cash generated Irorn operatsons 4.2491 4,1901 Net Cash in operating activitie5 4.2491 Cash flows from investtng activitl•J Pvrchase of tangible fixed assets Purchase of fixed asset investmenls Sale of fixed asset inveslments Interest recewed DNidend$ received 16,2151 {164,1581 167.041 7,043 25.330 11,9121 1124,9381 129,663 2.039 24,439 Net cash provided by investing activities 29,041 29.291 Chang* In ¢o$h 4nd c•$h equl¥algnts In th• r•portin9 Period Cash and cash equlvalonts 8t the b•glnnlng of the r•porting p•rfod 24.792 2S.101 143.143 118,042 Cash and cash •qulval•nt• at th? •nd of th• r•port5ng p*rf¢xl 167.935 143,143 The notes form parl of these financial statements P8ge 17 Sight Cymru Notes to th• Cash Flow Statement for the Year End•d 31 Mareh 2024 Re¢on¢lllation ol n•t incomellexpenditurel to net cash Ilow from oporating activitie$ 2024 2023 Net Incom•ll•xptnditurel for the reporting perlod las p•r th• stst•ment of Flnaneial Activiti851 Adjustmènts for.. Depreciation charges IGainlllosses on invèstmants Interest r6ceived Dividends recewed Increase in stocks Decrease in debtors Increaselldecreasol in credito(s 36.785 111,3551 7.652 120,6951 (7,0431 125,3301 1404 4,165 621 7,977 32,100 12,0391 124,4391 18331 22,748 28,3491 Net ea8h us•d In op•ratlon 4.1901 An•lysl$ of ehang•• In n•t funds At 1.4.23 Caih flow At 31.3.24 N•t cash Cash al bank and in hand 143 143 24,792 167935 143,143 24.792 167,93S Tot•1 143,143 24,792 157.935 The notes fcth part of th858 financial State￿nIS Page 18 Sight Cyrnru Notes to th• Financial Statements ft>r the Year End•d 31 March 2024 Aecounting policies Basls of preparing the financial statements The financial statements ol the chanty. which is a public ￿n&fit entity under FRS 102, have been prepared in accordance with the Charitiès SORP IFRS 1021 Accountsng and Reporting by Ch8rities.' Statement ol Racomrngnded Practice applicabte to charit￿S preparing Iheir ac(x)unts in accordance with the Financi81 Reportin9 Stsndard applicable in the VK and Republic of Irelarml IFRS 1021 leffective 1 January 20191,, Fin8ncial Reporting Sl8nd8rd 102 The Financial R8porting Standaril applicable in the UK and R&publi¢ ol Ireland. and the Charities Acl 2011. The financial statement5 have been prepared under the historical cost convention. with thè exc&ption of inveslments which ar8 induded a¢ mathel valuè, as Modif￿ by the revaluation of Certain assets. The financial 5taternents a￿ preparad in sterfing. vthich is thè fvnction81 currency of tho charity. Monètary amounts In Ihèse financial slaiem•nts rounded to the neaT•St £. Golng concern Al the timè of gpprtsving the finanual stslgTh*nts. the tnjslees havg r&8stsnable expectatKJn that Ihe charity has adequate r•sourc8s to continue in operational existence lor Ihe lofesèsable fijture. Thus th& trustees continue to adopt the going con¢em basis ol accountsng in preparing ihe financial s¢alements. Incom• Income is recognis8d when Ihe charity ts 18gaNy entiued to rt after any p8rfomwnce conditions hove been mel, the amounts can b* measured rdiabty. and it 1$ probab￿ that inc4Jm• will b& received. Cash donatsons ar6 recognised on receipt. Olh•r donaDons are reCogni￿d once the charity has been notified ol the donation. unl•ss p•rfo￿anCe conditions require deferr81 of the amount. Income tax recoverable in relation to donations re￿1v￿d und¢r Gift Aid or deeds ol eov*nanl is recognis•d al th8 time of the donation. Income Irom grants is r8eognised vthen lh• d)arity h83 entitlemenl to the lund$, any performanc¢ conditions allached to the grants havè L*gn met, il i8 pmbabl• th•1 income w41 be I￿1Ve￿ 8nd Ihe gmount can be m8a$ured reliably and it is not délerred. In¢ome from ￿￿1¢6$ is Includ￿ in the period to th¥ 8orvKe is prowded. Incomè from the Bale of goods is f¢¢O9nised when the sal8S takès pla￿. Exp•ndlturn Liabilitiès are recDgnised 88 frxpendi¢urg a5 soon as there is 8 logal or constructive obligèlion committing th• charity to that trxpendi¢ure. il is pfobaNè that a Iransler of econom￿ bonefits will be r6quirèd in settlement and th8 amount of the obl¢gation can bè measured reliably. EX￿ndit￿rg is 8ccounted lor on an accruals basis and has been d855ffjied under headings thai aggregate all cast relal*d to the calegory. Whèrg cosls cannot ba directly attribuled to particular headin9S th8y h￿e been allocat8d to a¢bvilits5 on a basis cM$islenl with the us8 of resourc•s. Costs of iaising funds ￿MpriSe the costs in r¢lation to generating incom8 such as fundraising activitse$. Expendilure on charitable eCDvi￿.eS indud8s all costs relating to the lurtharanc& of the charity's objectives as stated int he trustè8$ report and Iheir associal¥d support costs. Irrecoverable VAT is char9ed as a c05t againsl thè activity fry which the expenditure was incuffed. Support costs have bsèn allocated betsveen goverrbanc& c05ts and othei support. Govefnance costs comprise all costs involving public accountability of the charity arHI its compliance wth reg¢JIal￿n and good practrsa. Supptsrt Costs include central functK)ns and have been allwt•d lo the activity cost Categories on a b8Si$ consistent wlh the use of r8sources. Tangible fixed ass•ts Depfèciation is provided at the lollowing annual rales in order to writè Off each asset over its estimated useful lif•. Leasehold land 8nd buildings Fixlures and Iittings Motor V6h￿&S Over the lrfe ol thè lÈase199 yearsl 10¥. 33D/o Straight line 25Q/ts Straight line Tangible fixed assets 8re initially measured at Cost arml subsequendy measured 8t caxt or valuation, net of depreciation an¢J any impairment bsses. Page 19 continued... Sight Cymru Not•$ to th• Financial Statements - continu•d for th• Y•ar End•d 31 March 2024 Accounting policie$- continued Tangible fix•d assets Impalmi•nt of r￿e￿ ossets At each reporting date. the charity reviews lh& canwng amounts of ts tangible assets to determine whether there is any indication thal those assets have suffered impaimwnt Ios5. If any suth indrabon exists, the rgcoverable amount of th8 985gt is eslimated in order to deieThine th8 ext•nt of thè IM￿1rMenll0￿5 lif any). Stoeks Stocks arè VAluèd at the lower of cosl and not f&alisabl& valu•, aftèr mking due allowance for obsosata and slow moving itams. Donatèd goods lor $ale in the charity Shop are r￿t vall￿d. Taxatlon The charity is •x•mpt from tax on its ¢haril8ble aciMtie5. Fund accountlng Unrestricl•d funds can bè used in 8c¢ordan¢e wlh the charitable obj'ectives gt thè discrètion of the trustees. Reslricted funds can only b8 used lor particular restricted purposes within th8 objècts ol the charity. Restrictions arise when specified by the donor or when fvnd5 are raised for parbcular reslncted purpo$*s. Further explanation of tho nature and puw ol •8¢h fund is induded in Ihe notes to th• financial statements. Hlro purcha•• and l•a•lng eommltm•nts R8ntals paid under opefating K8as*s ar8 eharg¢d lo Ihe Statement of FinancAal Acltviliès on a slravJhl line ba51S over the period ol th6 lease. Flx•d asset Inv•stm•nts Fixed asset Investments are initially ma8suf8d at Ir8nsa¢lth price excluding transaction ¢ts$t6. and af8 Subsequently measured at fair value al each 18porting datè. Changes in lair value ar• r•cogni$trd in nel incomgllexpendilurel for the year. Transac1￿ costs aro eX￿n$¢I a$ incurred. Don4tlon• and l•gaci•• 2024 2023 Donation$ and gift$ 12.865 16,637 Oth•r tradlno *etlvlth• 2024 2023 Fundraising events Shop income 2,012 15,319 3,367 3,478 17,331 Inv•stm•nt Incom• 2024 2023 Income from listed inveslments Oeposil account interest 25.330 7,043 24,439 2.039 32,373 Page 20 continu8d... Sight Cymfu Notes to tho Finan¢ial Stalements- contlnued for the Year Ended 31 March 2024 In¢orn• from charltsbl• actlviti•$ 2024 2023 Activlty Core Corè Corè Coijnler sa￿$ Sundries Services and grants 2.083 2.662 482.021 2,233 4,725 497.961 486,766 504,919 Grants received, includad in abovè. a￿ as frJlltsw5'. 2024 2023 Core Aneunn Bevan University Health Board C8erphilly County Borough Counc Cardiff Counctl Monrnoulhsire County Council Nealh Port Talbot County Council Torf8en County Bofough Council Valè ol Glamorgan Council The National Lottery Communty FLtnd WCVA Cardiff University Groundwork UK P80p19's Poslcode Lollery G¥ll4gh?r Community Fund 43 65.400 38.632 50.488 64.182 49.769 56,044 64.136 79,252 60.247 48,373 82.267 61.126 46.593 53.047 59.385 34.848 50,000 1,075 1,000 1.075 12,500 500 482.021 497,961 Ralslno fund$ Ralslng donatlon• and 199•¢19¥ 2024 2023 Sundries Operaling charity shops 778 5,127 507 5.905 374 Inv•8tm•nt man4g•rnent colts 2024 2023 Portfolio managem￿t 3.281 3.364 A99re98¢e amounts 9.186 11,738 Page 21 contnuad... Sight Cym Not85 to the Financial Stat•m•nts - continued for the Year Ended 31 March 2024 Charltable o¢ti¥ttie$ costs Support costs (sèè note B} Direct Costs Total$ Cor8 475.472 48.587 524.059 Support e05t# Govemonce costs Manag•ment Finaneo Total$ Core 43,846 356 4.385 48.587 Tru•t••s' r•murt•ratlon and b•n•ffts There were no trust6•s' r•mun8rats"on or other b8nefits IOT Ihe year ended 31 March 2024 nor for the year •ndsd 31 March 2023. Tru•t••s' •xp•ns•s There were no 31 March 2023. Irust•&s' èxp￿$¥3 paid for lh8 y•ar •nd¢d 31 March2024 nor for the year ended No Iruslees were reimburs•t1 for •xwns¢s during the oJrr•nt or yvjar. 10. St•ff costs 2024 2023 423.671 410.160 423,671 410 160 Kèy m•nJg•m•nt p•rsonn•l The lotal emoluments and benefits r8ceiv•d by Ih? key manag8menl wrsonnel during the year w88 £165,825 12023. £164,316). Th• avèra9* monthly number of •mploy￿S during thtr year was as Idlows.. 2024 20 2023 21 Avora98 No employees r•c•iv8d emoluments in excess of £60.0￿. 11. Comparatlv•s lor thè statem•nt of financlal actlviti•# Unr•strlct•d funds Rèstricted funds Total lunds In¢ome and •ndowm•nts from Oonations and legacies 16.637 16.637 ¢hari¢4ble activltl•s Corg 6,958 497.961 504.919 Oth8r trading activities Investrnent income 6,845 26,478 6,845 26.478 Total 56,918 497.961 554.879 Expenditure on Raising funds 11,738 11.738 Pa9e 22 continued... Sight Cymry Notes to th• Financial Slatem•nts - eontinued for th• Year Ended 31 March 2024 11. Comparati￿$ for the statement of financlal activities- ￿ntinUed Unr•stricted furtd5 Restricted funds Total fund5 Charltabl• activitlg$ Corè 19,226 503.170 522,396 Total 30,964 503.170 534,134 N&t gainslllossesl on investmènts 32.1001 32,1001 NET INCOMEIIEXPENDITUREI 16,1461 15,2091 {11,3551 Rgconclllatlon of funds Total funds brought lO￿al¢j 865,577 427,194 1,292.771 Total fund8 earrl•d forward 859.431 421,985 1.281,416 12. Tanglbl• Ilx•d as8•ts Flxtur•s and flttlngs Long lèasehold Totall Co•t At 1 April 2023 Additions 457,243 20.809 478,052 6,215 At 31 March 2024 457,243 484,267 D•pr•ei*tlon At 1 April 2023 Charge for year 34.598 5,387 14,528 2,266 49,126 7.653 At 31 March 2024 39.985 16,794 N•t book vJlu• At 31 March 2024 417.258 10,230 427,488 At 31 March 2023 422.645 6,281 428,926 13. FSx•d ass•t Inv•8tm•rtt# Cash and s•ttl•m•nts p•nding Ll$t•d in¥e¥tment Totals Market valu• At 1 April 2023 Additions Disposals Revaluations 651.581 164,158 {171,1891 22,420 18,548 670,129 164,158 1171.1891 24,844 2.424 At 31 March 2024 666,970 20.972 687,942 Net book Valuè At 31 March 2024 666.970 20.972 687.942 At 31 March 2023 651.581 18.548 670,129 Thèrè were ng inveslmenl assets out*de the UK. Page 23 continued... Sight Cymru Notes to the Financial Ststsmenls . contlnu•d for the Y•ar Ended 31 March 2024 13. Fixod assèt inv•strnents - continued Cost oi valuats.on at 31 March 2024 is rep￿sented by.. Cash and settlements p•nding Llsted investm•nls Totals Valuats'on in 2024 666.970 20,972 687.942 The book cost of the asset investm￿t$ was £631.750. 14. Stocks 2024 2023 Stocks 6.918 6.514 15. D•btors: amounts falllng du• wlthln ygar 2024 2023 TrAdè debtors Other debtors 63,484 5,672 67,881 5,440 69.156 73,321 18. Cr•dltors'. amounts falllng du• wlthln on• y•ar 2024 2023 Trad8 credito Taxation and %)Ci81 security Othar crldilors 957 17,874 22,407 490 18.367 21,760 41,238 40,617 Défèrréd ineom• 2024 2023 Brought fomard Providèd lor during Ihg year Released in thé yèar 39,000 12.7LX) 39,000 C8rri$d lorward 12,7(X) 17. L•aslng agr•om•nts Minimum lease paymènts undèr FM)n-cancellable opeiating ￿8$$$ f811 due a5 lolkJws-. 2024 2023 Wilhin one year Between one and five years In more than fve years 6.813 20.233 74 6.500 27,046 27.120 33.$46 Page 24 continued... Slght Cymru Notes to the Flnan¢Sal Statèm•nts - eontinu•d for the Year End•d 31 March 2024 18. Movement lrt funds Net movèmenl In funds Transfers be￿o￿n funds At 31.3.24 At 1.4.23 Unre$trlct8d funds General fund Designated funds 852.490 6.941 44.437 2,M31 16.2141 6,214 890,713 10.712 859,431 41,994 901,425 R•strlet•d lunds Bradbury Hou58 421.985 15,2091 416.776 TOTAL FUNDS 1,281,416 36,785 1,318,201 Nat mov•menl in funds. ￿d￿ded in th8 above arn as follovo.. In¢omlng r•soure8s R•sourc•s •xpended Galn$ and Movemént In funds Unr•strlet•d fund$ General fund Dasignat8d funds 67.357 143,6151 2.4431 20,695 44,437 87.357 146,0581 20,695 41,994 R•¥trlct•d fund• An•unn B8v8n University Heallh Board Caérphilly C(>unly Borovgh Council 65.4C 165,4001 38.632 50.488 64.182 138.6321 150.4881 164,1821 Cardrff Coundl Monmouthsirè County Coun¢il Nealh Port Talbol County Coun¢il 49.769 149.7691 156.0441 164,1361 179,2521 11.075 15,209 112.5001 Torfaen County Borough Council Vale of Glamorgan Council The National Lottery Communrty Fund Cardiff University 8radbury House People's Poslcode Lottery Gallagher Community Fund 64.136 79.252 1.075 15,2091 12.500 500 481,978 487.187 TOTAL FUNDS 549.335 533.2451 20,695 Page 25 continued... Slght Cymru Notes lo the FinancSal Stat•m•nts . contlnuèd for Ihe Year Ended 31 March 2Q24 18. Movem•nt in lunds - continued Comparati¥•s for movement in fvnds Net movement In funds Transfèrs botw88n fvnds At 31.3.23 At 1A.22 Unr•strlet•d funds General fund Designat￿1 funds 857.780 7.797 13.3781 2.7681 {1,9121 1,912 852,490 6,941 865.577 16,1461 859.431 Rèstrleted funds Bradbury House 427.194 15,2091 421.985 TOTAL FUNDS 1.292,771 11.3551 1281,416 Comparative nel movement in lunds. inC￿ded in the ab￿8 are as follows.. Incomlng r•sourc•s R•$ourc•s •x￿nd•d Galns and losses Movement In funds Unr•itrlcted fvnd• Gèn8r81 fund Designat8(J funds 56.918 128.1961 2.7681 132.1001 13,3781 2,7681 56.918 130,9641 132,1001 16.1461 Restricted fLbnd8 Anaurin B&¥8n Univ¢rsity Health Board Ca¢rphilly County Borough Council 60.247 160.2471 48.373 82.267 61,126 148.3731 182,267 161.1261 Cardilf Counal Monmouthsira County Coun¢il Naath Port Talbot County Ctsunc 46.593 53.047 59.385 34.848 146.5931 153.0471 159.3851 134.8481 150.0001 11.0751 11.0001 5.2091 Torfaen County Borough Coun¢il Val8 ol Glamorgan Council The Natsonal Loit•ry Community Fund WCVA Cardiff Un¢versity Groundwork UK Bradbury House 1.075 5,2091 497,961 503.1701 5,2091 TOTAL FUNDS 554.879 534,1341 32,1001 11 3551 Page 26 continued... Sight Cymru Not•s to the Fi￿n¢1￿1 Statements- continued for the Year Ended 31 March 2024 18. Mov•ment in fvnds . contlnued D•slgnated Funds Flxed ASS￿ Fund this fund represenls the n•t tXK)k value of th& charity urire5tricled fixed assets. Réstrict•d Funds Bradbury Hou¥0 this relates ¢0 the net book value of the property hèld by the charity which was funded by the Bradbury Foundation. this funding was to support thè Inte9r8ied Carè Fund $èNce and the eye dinic. this funding was to support the Supporting Peopl8 $gNi¢e. this funding was to support the rèhabilil8tion service. this funding Was to support the rehabilitation service. this funding was to support the rehabililalion servica. this lundtng w88 to support the r•habililalion and communrty servic•s. this funding was to support the r•h8bilitation s61vice. this funding was to support the Sight Ltss5 Awaren&$s proj•cl. this funding wa$ provided lo support costs of our 18chno109y upgrade, staffing and equipment. this funding was provided for the Assist Rèsearch Proj8cl. Tesco community lund lo do pop ¢Jp awaraness on Sight Cymru. building a indu$iv* 8rfi8ty prq'8Ct. An•udn Bevan Unfv•rsity H•alth Board Ca•rphllly County Borough Councll Cardlff Countll Monmouthshir• County Coun¢ll Nèath Port Talbot County Council Torfa•n County Borough Council Val• of Glamor9an Coun¢ll Th• Natlonal Lott•ry Community Fund WCVA Cardlff Unlv•rn Groundwork UK Pgopl•'• Po•tcod• Lott•ry Gallaqh•r Communlty Fund Provided th• charity wrth o pot of funding lo suppori the charty as a whol8. 19. R•lal•d party dlsclosur•s 88blin Molik ICEOI is also a councillor of Councl. The charity r￿￿ed £50,488 {2023'. £82,267) in fundin9 from Cardiff Council. Th• CEO was rK*l part ol any decision making pr￿$8 regafding tho funding. Th&rt wèr¢ no other related party trnnsaebon$ lo note. Page 27