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2023-03-31-accounts

Charity no. 1178384

Sight Support West of England Report and Unaudited Financial Statements

31 March 2023

Sight Support West of England

Reference and administrative details

For the year ended 31 March 2023

Charity number 1178384 Registered office St Lucy's Sight Centre and operational Browfort address Bath Road Devizes Wiltshire SN10 2AT Trustees Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows:

Nicholas Grinham Chair Heather Armstrong Roger Bonner appointed 6 June 2022 Rachel Farr resigned 1 November 2022 Carl Hall Kayvan GhotbiRavandi appointed 6 June 2022 Simon Russell Amar Shah Lauren Williams Simon Williams resigned 1 June 2022 Chief executive officer Mike Silvey Bankers CAF Bank Ltd The Co-operative Bank Kings Hill - Business West Malling PO Box 250 Kent Skelmersdale ME19 4TA WN8 6WT

1

Sight Support West of England

Reference and administrative details

For the year ended 31 March 2023

Independent Godfrey Wilson Limited examiners Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD

2

Sight Support West of England

Report of the trustees

For the year ended 31 March 2023

The trustees present their report and the financial statements for the year ended 31 March 2023 and also wish to express their sincere thanks to all staff and volunteers for their hard work over the past year.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Constitution and the Statement of Recommended - Practice Accounting and Reporting by Charities (effective from January 2019).

About Sight Support West of England

Every 6 minutes someone in the UK is told they are losing their sight, and over 2 million people in the UK are currently estimated to be living with sight loss.

Sight Support West of England was established in 2018 to provide services for people living with sight loss across Bristol, Bath and NorthEast Somerset, South Gloucestershire, and in Wiltshire and Swindon through our partner charity Wiltshire Sight.

There are now more than 8,000 people registered as sight impaired or severely sight impaired across our region, including more than 250 children. Each year, around 600 more people are registered as sight impaired.

3

Sight Support West of England

Report of the trustees

For the year ended 31 March 2023

There are many more people in the area that are not yet diagnosed, undergoing treatment, don’t meet the criteria for registration but have low vision, or have chosen not to be registered. If these people are included, current estimates are that across the region, over 53,000 - people are currently living with sight loss one in every 30 people[1] With an aging population, and the increasing incidence of conditions like diabetes (with strong links to sight loss), it is forecast that the number of people affected will increase by 25% by 2030.

There are many practical and emotional challenges experienced by visually impaired people, such as safety in the kitchen, a loss of independence, financial or employment worries, loss of confidence, and losing social activities and friendships.

Our services at Sight Support West of England are driven by the outcomes that people with sight loss have said are most important to them[2] . These are:

1 https://www.rnib.org.uk/professionals/knowledge-and-research-hub/ key-information-and-statistics/sight-loss-data-tool

4

Sight Support West of England

Report of the trustees

For the year ended 31 March 2023

The West of England region is diverse covering remote rural areas, coastal towns, deprived inner city areas and everything in between. The needs of people living in our region are affected greatly by this challenging geography. Before Sight Support was founded, services in Bristol, Bath and South Gloucestershire were inconsistent and disjointed. There are currently no Local Eye Heath Networks across the South West. This means the gap between health and social care is wider than in other areas and good practice here is not routinely shared or developed systematically.

Our challenge is to ensure that all people living with sight loss in the region have access to high quality, joined-up services that deliver the identified outcomes (above) and enable people with sight loss to lead independent and fulfilling lives.

Our strategy

Our aim is to ensure that everyone newly diagnosed or living with sight loss in the West of England, including children and young people, have equal and timely access to the support and services they need.

We will work with people affected by sight loss to help them navigate the often complex provision of services, joining up health, social care and community services.

We will work with others to provide the best possible support. These partners include professionals in the health, social care and education sectors. They include other charities and, critically, they include people living with sight loss.

Our strategy is defined by the views and needs of people with sight loss, and our services will reflect this.

5

Sight Support West of England

Report of the trustees

For the year ended 31 March 2023

Our key strategic objectives are:

  1. To ensure everyone living with sight loss in our region know where they can find relevant support

  2. To improve the sight loss pathway so that everyone has equal, timely access to the services and support they need

  3. To provide a range of good quality, high impact services guided by the views and needs of people living with sight loss

  4. To increase awareness of the importance of eye health and the prevention of sight loss

  5. To build a strong and sustainable organisation which adds real value, can demonstrate impact and has the confidence of the people and organisations we work with. An organisation resilient to external challenges, agile enough to exploit opportunities and able to adapt to the changing needs of our service users

Achievements and performance

“Sight Support West of England is one of the most progressive organisations of visual impairment working at a local level in the country. What they do is brilliant.”

Alun Davies, Chair of the Bristol Mayoral Disability Equality Commission.

The 22/23 year has been a very positive one for Sight Support West of England. Although we continue to see increasing demand for services, we have been expanding the team and the support that we are able to offer. We now have 31 hubs across the region where we offer services on a regular basis, and this year we increased our Community Sight Loss Advisor team, recruiting a new post to cover the Bath and NorthEast Somerset area.

6

Sight Support West of England

Report of the trustees

For the year ended 31 March 2023

Our client reach has increased by 17% over the year, to 2,450. The Community Sight Loss Advisor team held 3,919 one-to-one sessions with clients, a 9% increase on 21/22. We also saw a 125% increase in the number of people attending social activities, with new volunteer-led groups opening alongside our community hubs.

Data collected through our Sight Loss Assessment process over the year shows that 88% of the clients we have been working with in 22/23 have already recorded significant improvement during the year in at least one outcome area as a result of our support. Many of these have made significant progress in several or all of the areas in which they were seeking support.

In our evaluation calls with clients, 100% of clients have rated our services good, with 89% rating it as excellent. 96% of clients have told us that they feel more able to cope with day-to-day life as a result of our support, and 88% say they are feeling less isolated.

In South Gloucestershire, we agreed a two-year contract extension with the council to run the visual impairment rehabilitation service, which will now run to October 2024.

In December we launched our first public awareness campaign, entitled ‘See It My Way’. The online campaign included videos, quotes and articles about living with sight loss, and was received very well by our client group, and shared widely.

Our fundraising team expanded this year too, with the recruitment of a new Community & Corporate Fundraiser to develop local events and partnership with local businesses. We have also trained our first cohort of volunteer speakers to go out into the community to deliver - awareness talks on our behalf several talks have been booked for early 23/24. In individual giving we now have 504 current active supporters, an increase of 36% over the year.

7

Sight Support West of England

Report of the trustees

For the year ended 31 March 2023

Our annual staff and volunteer survey results were again very positive, showing an engaged and happy team. We have been successful at filling new and vacant posts, with 5 of our last 6 recruits coming from – our service user community we now have 25% of the staff team with lived experience of sight loss. The volunteer team has also increased this year, to an incredible 93 active volunteers, adding hugely to our capacity to deliver services. Over the year our volunteers contributed over 4,400 hours of their time. 28% of our volunteers are themselves living with sight loss. As always, we are incredibly grateful to all those who have given up their time and provided invaluable support over the year.

Some quotes from our recent volunteer survey include:

“SSW staff go the extra mile to ensure that I'm comfortable and confidant whilst carrying out my duties.”

“You are a lovely charity to volunteer for and I feel supported but not pressured.”

“The friendly staff and management group makes the whole aspect of being a volunteer special. Whilst carrying out my roles I feel that I'm very much a part of a team and a very valued part.”

8

Sight Support West of England

Report of the trustees

For the year ended 31 March 2023

Specific progress against the key objectives we set ourselves for 22/23 is summarised below:

The post has had a big impact, both for the organisation and the individual recruited. Not being tied to the phones has enabled our Community Sight Loss advisors to be out in the community more and provide more support to clients. Our intern, Jordon, has settled into the team well and is really proving his worth. Funding allowing, we will aim to continue this post for the foreseeable future.

Bath Eye Can has been slightly delayed and will be held in May 2023.

9

Sight Support West of England

Report of the trustees

For the year ended 31 March 2023

During our training week in March, we held a teambuilding ‘Paper the Region’ event, resulting in more than 60 posters being put up and leaflets left in nearly 50 different healthcare settings.

In February we conducted a mailing to care homes in the region, offering support for residents with sight loss and gauging interest in training for care home staff.

▪ Open at least two more local hubs in strategic locations, including charity shop and services space

10

Sight Support West of England

Report of the trustees

For the year ended 31 March 2023

At the time of writing, we are negotiating the lease on a new hub location in Thornbury, South Gloucestershire, where we will be installing a resource centre and our third charity shop. We expect the hub to be open before the end of June 2023.

As with our first shop in Salisbury, the design of the Devizes shop and plans for Thornbury have accessibility at the core, particularly for – people with sight loss bright and airy, with wide pathways and spacing on the shop floor, high contrast colours for the till area and doorframes, and an accessible till system designed for use by visually-impaired volunteers. Over the next year we will be installing information points in the shops to provide the general public with more information about eye health, sight loss, and the support the charity can provide.

We are very grateful to our supporters for the huge number of high– quality donations received to stock the shops over the past 12 months we have received over 5,000 bags of donations from across the region.

▪ Increase lived experience on the Board of Trustees, and recruit a Client Advisory Board to inform strategy and planning of new services

Two new trustees were recruited in mid-2022, both of whom are registered blind. One of these is a retired actuary and has taken on role of Treasurer. We now have three of our eight trustees who are living with sight loss.

11

Sight Support West of England

Report of the trustees

For the year ended 31 March 2023

Our Client Advisory Group was formed in June and is now meeting regularly. A diverse group of 8 people with differing eye conditions, the CAG acts as a sounding-board for Sight Support staff to discuss service development and new initiatives, helps to identify gaps in provision, and advises our staff on other areas such as accessibility of communication; fundraising messaging; outreach to harder-toreach groups and general awareness raising.

Plans for the future

Our operational Plan for 23/24 was signed off by the board at their March meeting and contains key objectives, actions and indicators for the year. Our key development priorities for the year include:

12

Sight Support West of England

Report of the trustees

For the year ended 31 March 2023

Financial review

With a big effort from the fundraising team, fundraising income for the year came in on budget. We are very grateful for all the support we receive from our valued donors and supporters. Retail income was below budget, due to the delay in opening our third shop which we had hoped would happen during the year. However, the corresponding savings in the retail expenditure budget meant that we finished the year with a small surplus of £47,803. The surplus will be carried forward and used to fund the opening of the Thornbury hub in June 2023.

Charitable funders and supporters

Sight Support West of England wishes again to thank our two principal funders, the Thomas Pocklington Trust and Wiltshire Sight for their continued support over the last year.

We would also like to thank the following funders and supporters for their generous support during the year:

Associated Optical The Co-op Local Community Fund Arnold Clarke Radstock Town Council Irwin Mitchell The Society of Merchant Jack Lane Charitable Trust Venturers Keynsham Town Council St. Monica Trust National Lottery The Sperring Charity Newmedica Eye Health Clinics Thornbury Town Council Optelec Will Charitable Trust Quartet Community Foundation Yate Town Council Bristol Masons

13

Sight Support West of England

Report of the trustees

For the year ended 31 March 2023

Reserves policy

Sight Support West of England aims to maintain a level of free financial reserves that will enable the charity to meet future commitments and unforeseen expenses without a negative impact on our ability to deliver core services or develop the business in the manner planned.

As a relatively new organisation, receiving approximately 55% of our income from time-limited start-up grants, Sight Support is particularly vulnerable to sudden drops in funding. Whilst we are working to reduce our reliance on current core start-up funding contracts, the Board acknowledges that fundraising takes time to build, and has therefore set a reserves policy that helps to mitigate our risk exposure.

In consideration of the above, the board of trustees has concluded that the Charity should keep available as free reserves an amount that would cover the equivalent of three months operating cost, plus an additional amount to cover our potential fundraising deficit for the next year. In doing so, the board aims to ensure that the Charity is able to continue to provide our core services.

The agreed target level of free reserves has therefore been set at £130,000, which the board believes would provide them with the safeguards needed to be able to guarantee continuity of services for a period of at least twelve months regardless of funding uncertainty.

The trustees have also set aside the amount of £28,000 as a Designated Fund to cover the TUPE redundancy liability for staff delivering the South Gloucestershire Rehabilitation Service.

14

Sight Support West of England

Report of the trustees

For the year ended 31 March 2023

The trustees have agreed that any reserves accrued above the target amount will be used for the following purposes:

As at 31 March 2023 our free reserves for the charity are £192,300, which is around the desired level set by the trustees as outlined above.

The board also commit to holding sufficient restricted reserves to cover the cost of our contractual commitments, as agreed with each contracting agency.

Structure, governance and management

The charity was registered as a Charitable Incorporated Organisation with the Charities Commission in England & Wales and Companies House on 15 May 2018. The original name of the charity was Vision South West, and it is governed by its Constitution.

The charity passed a special resolution on 29 March 2019 changing its name to Vision West of England. A further resolution was passed on 25 September 2020 to change the name to Sight Support West of England.

Sight Support West of England’s board of trustees is currently made up of 8 people, with a range of backgrounds, skills and professions. Currently we have three members of the board who are registered severely sight impaired.

15

Sight Support West of England

Report of the trustees

For the year ended 31 March 2023

The charity is staffed by a small team of dedicated staff, headed up by the Chief Executive and a small management team. Staff are based at either our Bristol, Devizes or Salisbury premises, or work remotely providing services across our geographic area of remit. Staff pay and benefits are reviewed annually by the trustees at their September meeting.

In the summer of 2021, the board conducted a review of its effectiveness to identify areas for strengthening. We also work through the Charity Commission and NCVO finance and governance checklists on an annual basis to identify areas of concern and to ensure our policies, procedures and systems were fit for purpose and of a high standard.

Risk management and delegation

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate systems and controls are in place in order to mitigate those risks and to provide reasonable assurance against fraud and error. During the year the trustees have considered the major risks and systems have been put in place to mitigate their impact. The risk analysis is discussed at every other Board meeting, and a full review takes place annually.

The charity has a Schedule of Delegation in place which defines which decisions are taken by the board of trustees and which are delegated to staff. The Schedule is reviewed annually and covers areas of strategy, risk management, legal obligations, organisational policies and procedures, variations to agreed budget and strategic use of reserves.

16

Sight Support West of England

Report of the trustees

For the year ended 31 March 2023

Public benefit

The board of trustees have given due consideration to Charity Commission published guidance on the operation of the public benefit requirement and confirm that these requirements are met by the charity.

Statement of responsibilities of the trustees

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and the incoming resources and application of resources, including the net income or expenditure, of the charity for the year. In preparing those financial statements the trustees are required to:

17

Sight Support West of England

Report of the trustees

For the year ended 31 March 2023

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity have no liability to contribute to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

Independent examiners

Godfrey Wilson Limited were re-appointed as independent examiners to the group and parent charity during the year and have expressed their willingness to continue in that capacity.

Approved by the trustees on 19 June 2023 and signed on their behalf

Nick Grinham - Chair

18

Independent examiner's report

To the trustees of

Sight Support West of England

I report to the charity trustees on my examination of the consolidated accounts of the Group comprising Sight Support West of England ('the Charity') and its subsidiary undertakings for the year ended 31 March 2023, which are set out on pages 22 to 50.

Responsibilities and basis of report

As the trustees of the Charity you are responsible for the preparation of the consolidated accounts of the Group in accordance with the requirements of the Charities Act 2011 ('the Act') and you have chosen to prepare consolidated accounts for the Group. You are satisfied that the accounts of both the Charity and the Group are not required by Charity law to be audited and have chosen instead to have an independent examination.

I report in respect of my examination of the consolidated accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the consolidated accounts present a 'true and fair' view and my report is limited to those specific matters set out in the independent examiner's statement.

Independent examiner’s statement

Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.

19

Independent examiner's report

To the trustees of

Sight Support West of England

Godfrey Wilson Limited also provides bookkeeping services to the Charity. I confirm that as a member of the ICAEW I am subject to the FRC’s Revised Ethical Standard 2016, which I have applied with respect to this engagement.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

20

Independent examiner's report

To the trustees of

Sight Support West of England

Date: 21 June 2023

Rob Wilson FCA Member of the ICAEW For and on behalf of: Godfrey Wilson Limited Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD

21

Sight Support West of England

Consolidated statement of financial activities

For the year ended 31 March 2023

Note
Income from:
3
4
5
Investments
Other income 22
Total income
Expenditure on:
Raising funds
7
12
8
Donations
and legacies
Charitable
activities
Other trading
activities
Charitable
activities
Net income /
(expenditure)
and net
movement in
funds
Total
expenditure
Net gains /
(losses) on
investments		 The group
2023
2022
Restricted Unrestricted
Total
Total
£
£
£
£
-
278,147
278,147
505,715
60,945
217,022
277,967
251,409
-
134,819
134,819
40,508
-
8,772
8,772
6,927
-
-
-
557,420
60,945
638,760
699,705
1,361,979
-
73,153
73,153
112,501
34,591
586,246
620,837
473,202
34,591
659,399
693,990
585,703
-
(32,616)
(32,616)
9,999
26,354
(53,255)
(26,901)
786,275
The group

22

Sight Support West of England

Consolidated statement of financial activities

For the year ended 31 March 2023

Net income / (expenditure) and net movement in funds (continued) 26,354 (53,255) (26,901) 786,275 Reconciliation of funds: Total funds brought forward 6,000 936,199 942,199 155,924 Total funds carried forward 32,354 882,944 915,298 942,199

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 19 to the accounts.

Prior period income has been reclassified to reflect the requirements of the Charities SORP (FRS 102) and to be comparable with the current year. The restatements are purely reclassifications of income and expenditure and do not affect net income.

23

Sight Support West of England

Charity only statement of financial activities

For the year ended 31 March 2023

Note
Income from:
3
4
5
Investments
Total income
Expenditure on:
Raising funds
Total expenditure
7
8
Donations and
legacies
Net income and
net movement in
funds
Charitable
activities
Reconciliation of
funds:
Total funds brought
forward
Total funds carried
forward
Charitable
activities
Other trading
activities		 The charity The charity
2023
2022
Restricted Unrestricted
Total
Total
£
£
£
£
-
171,722
171,722
186,847
205,044
149,234
354,278
396,427
-
134,360
134,360
40,258
-
328
328
-
205,044
455,644
660,688
623,532
-
73,153
73,153
112,501
178,690
361,042
539,732
462,104
178,690
434,195
612,885
574,605
26,354
21,449
47,803
48,927
6,000
198,851
204,851
155,924
32,354
220,300
252,654
204,851		 The charity The charity
2023
2022
Restricted Unrestricted
Total
Total
£
£
£
£
-
171,722
171,722
186,847
205,044
149,234
354,278
396,427
-
134,360
134,360
40,258
-
328
328
-
205,044
455,644
660,688
623,532
-
73,153
73,153
112,501
178,690
361,042
539,732
462,104
178,690
434,195
612,885
574,605
26,354
21,449
47,803
48,927
6,000
198,851
204,851
155,924
32,354
220,300
252,654
204,851
623,532
112,501
462,104
574,605
48,927
155,924
204,851

24

Sight Support West of England

Charity only statement of financial activities

For the year ended 31 March 2023

Prior period income has been reclassified to reflect the requirements of the Charities SORP (FRS 102) and to be comparable with the current year. The restatements are purely reclassifications of income and expenditure and do not affect net income.

25

Sight Support West of England

Consolidated balance sheets

As at 31 March 2023

The group
2023
Note
£
Fixed assets
Tangible assets
11
140,233
Investments
12
474,320
614,553
Current assets
Stocks
15
3,559
Debtors
16
69,396
252,948
325,903
Liabilities
17
25,158
300,745
Net assets
18
915,298
Cash at bank and
in hand
Creditors:
amounts falling
due within 1 year
Net current
assets		 The group
2022
£
144,732
499,273
644,005
3,817
32,536
280,929
317,282
19,088
298,194
942,199		 The charity The charity
2023
2022
£
£
1,752
993
-
-
1,752
993
3,559
3,817
134,687
105,615
135,068
110,514
273,314
219,946
22,412
16,088
250,902
203,858
252,654
204,851

26

Sight Support West of England

Consolidated balance sheets

As at 31 March 2023

Funds
19
Restricted funds
Unrestricted funds
General funds
Total charity funds
Designated
funds		 32,354
466,482
416,462
915,298		 6,000
471,740
464,459
942,199		 32,354
28,000
192,300
252,654		 6,000
28,000
170,851
204,851

Approved by the trustees on 19 June 2023 and signed on their behalf by

Nick Grinham - Chair

27

Sight Support West of England

Consolidated statement of cash flows

For the year ended 31 March 2023

The group The group
2023 2022
Note £ £
Cash used in operating activities:
Net movement in funds (26,901) 786,275
Adjustments for:
Depreciation charges 6,366 7,038
(Gains) / losses on investments 32,616 (9,999)
Income from investments (8,772) (6,927)
Decrease / (increase) in stock 258 (1,499)
Decrease / (increase) in debtors (36,860) 83,711
Increase / (decrease) in creditors 6,070 (118,947)
Acquisition of subsidiary 22 - (557,420)
Net cash provided by / (used in)
operating activities (27,223) 182,232
Cash flows from investing activities:
Net cash acquired on acquisition of
subsidiary - 140,582
Purchase of tangible fixed assets (1,867) (614)
Proceeds from the sale of investments 19,192 15,243
Purchase of investments (32,500) (107,201)
Movement in investment cash 5,645 (14,335)
Income from investments 8,772 6,927
Net cash provided by / (used in)
investing activities (758) 40,602
Increase / (decrease) in cash and
cash equivalents in the year (27,981) 222,834

28

Sight Support West of England

Consolidated statement of cash flows
For the year ended 31 March 2023
Cash and cash equivalents at the end
of the year
Increase / (decrease) in cash and
cash equivalents in the year
(continued)
Cash and cash equivalents at the
beginning of the year		 (27,981)
280,929
252,948		 222,834
58,095
280,929

29

Sight Support West of England

Notes to the financial statements

For the year ended 31 March 2023

1. Accounting policies a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Sight Support West of England meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b) Group accounts

These financial statements consolidate the results of the charity and its wholly-owned (controlled) subsidiary on a line by line basis. Transactions and balances between the charity and its subsidiary have been eliminated from the consolidated financial statements. Balances between the two charities are disclosed in the notes of the charity's balance sheet. A separate statement of financial activities, or income and expenditure account, for the charity itself is presented in addition to that of the group by choice.

c) Going concern basis of accounting

The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. The group holds unrestricted, general reserves of £416,462 (charity only: £192,300). For this reason the trustees consider that the charity has sufficient cash reserves to continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved.

d) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have been met, then the legacy is treated as a contingent asset and disclosed if material.

30

Sight Support West of England

Notes to the financial statements

For the year ended 31 March 2023

1. Accounting policies (continued)

e) Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item, is probable and the economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

f) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank.

g) Funds accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particularly areas of the charity's work or for specific projects being undertaken by the charity.

h) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

i) Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities based on the proportion of staff time as follows:

The group The charity
2023 2022 2023 2022
Raising funds 9.7% 15.5% 10.4% 16.7%
Charitable activities 90.3% 84.5% 89.6% 83.3%

31

Sight Support West of England

Notes to the financial statements

For the year ended 31 March 2023

1. Accounting policies (continued)

j) Tangible fixed assets

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

For the parent: Computer equipment

3 years straight line

For the subsidiary: Long leasehold 50 years straight line Computer equipment 25% reducing balance Fixtures and fittings 15% reducing balance

Items of equipment are capitalised where the purchase price exceeds £500.

k) Investments

Investments held at the year end are valued at the current market value at that date. Investment income from dividends is included in incoming resources while realised and unrealised losses and gains on investments are shown separately on the statement of financial activities (SOFA). Realised gains and losses are calculated on investment disposals during the year as the difference between the opening market value and the proceeds received on sale. Unrealised gains and losses are calculated on investment holdings at the year end as the difference between the closing market value and the opening market value or purchase value during the year.

l) Stock

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

m) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

n) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

o) Creditors

Creditors and provisions are recognised where there is a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

32

Sight Support West of England

Notes to the financial statements

For the year ended 31 March 2023

1. Accounting policies (continued)

p) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently recognised at amortised cost using the effective interest method.

q) Pension costs

The charity operates a defined contribution pension scheme for its employees. There are no further liabilities other than that already recognised in the SOFA.

r) Foreign currency transactions

Transactions in foreign currencies are translated at rates prevailing at the date of the transaction. Balances denominated in foreign currencies are translated at the rate of exchange prevailing at the year end.

s) Accounting estimates and key judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are depreciation as described in note 1j above.

33

Sight Support West of England

Notes to the financial statements

For the year ended 31 March 2023

2. Prior period comparatives: statement of financial activities

Income from:
Donations and legacies
Charitable activities
Other trading activities
Investments
Other income
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net gains on investments
Net income and net movement in funds
3.
Income from donations and legacies
The group
Donations
Legacies
Gifts in kind
Coronavirus Job Retention Scheme
Total income from donations and
legacies		 Restricted
£
-
-
-
-
-		 Restricted
£
£
-
505,715
63,222
188,187
-
40,508
-
6,927
-
557,420
63,222
1,298,757
-
112,501
64,222
408,980
64,222
521,481
-
9,999
(1,000)
787,275
2023
Total
£
£
163,720
163,720
104,977
104,977
9,450
9,450
-
-
278,147
278,147
Unrestricted
Unrestricted		 The group
2022
Total
£
505,715
251,409
40,508
6,927
557,420
1,361,979
112,501
473,202
585,703
9,999
786,275
2022
Total
£
172,846
316,147
9,450
7,272
505,715

Gifts in kind comprise the provision of office space. All income from donations and legacies in the current and prior period was unrestricted.

34

Sight Support West of England

Notes to the financial statements

For the year ended 31 March 2023

3.
Income from donations and legacies (continued)
The charity
Restricted
£
Donations
-
Legacies
-
Gifts in kind
-
Coronavirus Job Retention Scheme
-
-
4.
Income from charitable activities
The group
Grants
Statutory
Resource sales
Total income from charitable activities
The charity
Grants
Statutory
Resource sales
Total income from charitable activities
Total income from donations and
legacies		 2023
Total
£
£
142,272
142,272
20,000
20,000
9,450
9,450
-
-
171,722
171,722
Restricted
£
£
60,945
99,168
-
109,900
-
7,954
60,945
217,022
Restricted
£
£
205,044
31,557
-
109,900
-
7,777
205,044
149,234
Unrestricted
Unrestricted
Unrestricted		 2022
Total
£
150,125
20,000
9,450
7,272
186,847
The group
2023
Total
£
160,113
109,900
7,954
277,967
The charity
2023
Total
£
236,601
109,900
7,777
354,278

35

Sight Support West of England

Notes to the financial statements

For the year ended 31 March 2023

4.
Income from charitable activities (continued)
Prior period comparative:
The group
Grants
Statutory
Resource sales
Total income from charitable activities
The charity
Grants
Statutory
Resource sales
Total income from charitable activities		 Restricted
£
£
63,222
69,889
-
109,900
-
8,398
63,222
188,187
Restricted
£
£
148,774
129,408
-
109,900
-
8,345
148,774
247,653
Unrestricted
Unrestricted		 The group
2022
Total
£
133,111
109,900
8,398
251,409
The charity
2022
Total
£
278,182
109,900
8,345
396,427

36

Sight Support West of England

Notes to the financial statements

For the year ended 31 March 2023

5. Income from other trading activities The group

Income from other trading activities
The group
Shop sales
Sponsorship and other trading
Corporate fundraising		 Restricted
£
-
-
-
-		 £
126,156
8,327
336
134,819
Unrestricted		 2023
Total
£
126,156
8,327
336
134,819		 2022
Total
£
34,021
6,237
250
40,508

All income from other trading activities in the prior year was unrestricted.

The charity

Shop sales
Sponsorship and other trading		 Restricted
£
-
-
-		 £
126,033
8,327
134,360
Unrestricted		 2023
Total
£
126,033
8,327
134,360		 2022
Total
£
34,021
6,237
40,258

6. Government grants

The group receives government funding of £109,900 (2022: £109,900) from South Gloucestershire Council to cover the contracted Visual Impairment Rehabilitation Service. These funds are not available to be used for the charity’s core activities of providing sight loss information, advice and guidance which are funded by fundraising, donations, legacies and grants. Other income recorded as government grants are discretionary awards made by local councils and administrations totaling £9,028 (2022: £14,791), and grants amounting to £20,000 (2022: £20,000) from the National Lottery Community Fund. There are no unfulfilled conditions or contingencies attached to any of these grants.

Income recorded as government grants are discretionary awards made by local councils and administrations.

37

Sight Support West of England

Notes to the financial statements

For the year ended 31 March 2023

7. Total expenditure The group

Total expenditure
The group
Staff costs (note 9)
Other staff costs
Direct project costs
Fundraising
Bank charges
Printing, postage and stationery
Insurance
Premises costs
Communications
Accountancy
Legal fees
Depreciation
IT and computer costs
Subscriptions
Miscellaneous costs
Sub-total
Total expenditure
Allocation of support and
governance costs		 Raising
funds
£
39,760
-
-
15,188
-
-
-
-
-
-
-
-
-
-
-
54,948
18,205
73,153		 Charitable
activities
£
408,355
-
32,264
-
-
10,690
-
-
-
-
-
-
-
-
-
451,309
169,528
620,837		 £
60,290
4,737
-
-
2,143
-
2,885
76,634
2,004
14,679
1,671
6,366
13,225
2,224
875
187,733
(187,733)
-
Support and
governance
costs		 2023 Total
£
508,405
4,737
32,264
15,188
2,143
10,690
2,885
76,634
2,004
14,679
1,671
6,366
13,225
2,224
875
693,990
-
693,990

Total governance costs were £4,620 (2022: £6,000).

38

Sight Support West of England

Notes to the financial statements

For the year ended 31 March 2023

7. Total expenditure (continued) The group Prior period comparative

Prior period comparative
Staff costs (note 9)
Other staff costs
Direct project costs
Fundraising
Bank charges
Printing, postage and stationery
Insurance
Premises costs
Communications
Accountancy
Legal fees
Depreciation
IT and computer costs
Subscriptions
Miscellaneous costs
Sub-total
Total expenditure
Allocation of support and
governance costs		 Raising
funds
£
61,281
-
-
26,964
-
-
-
-
-
-
-
-
-
-
-
88,245
24,256
112,501		 Charitable
activities
£
306,287
-
27,250
-
-
7,335
-
-
-
-
-
-
-
-
-
340,872
132,330
473,202		 Support and
governance
costs
£
49,395
4,595
-
-
1,035
-
2,816
43,297
18,923
13,979
3,065
7,038
9,834
1,478
1,131
156,586
(156,586)
-		 2022 Total
£
416,963
4,595
27,250
26,964
1,035
7,335
2,816
43,297
18,923
13,979
3,065
7,038
9,834
1,478
1,131
585,703
-
585,703

39

Sight Support West of England

Notes to the financial statements

For the year ended 31 March 2023

7. Total expenditure (continued) The charity

Total expenditure (continued)
The charity
Staff costs
Other staff costs
Direct project costs
Fundraising
Bank charges
Printing, postage and stationery
Insurance
Premises costs
Communications
Accountancy
Legal fees
Depreciation
IT and support costs
Subscriptions
Miscellaneous costs
Sub-total
Total expenditure
Allocation of support and
governance costs		 Raising
funds
£
39,760
-
-
15,188
-
-
-
-
-
-
-
-
-
-
-
54,948
18,205
73,153		 £
340,760
-
32,264
-
-
10,690
-
-
-
-
-
-
-
-
-
383,714
156,018
539,732
Charitable
activities		 £
60,290
4,737
-
-
1,927
-
2,525
71,845
2,004
12,142
1,371
1,108
13,210
2,189
875
174,223
(174,223)
-
Support and
governance
costs		 2023 Total
£
440,810
4,737
32,264
15,188
1,927
10,690
2,525
71,845
2,004
12,142
1,371
1,108
13,210
2,189
875
612,885
-
612,885

40

Sight Support West of England

Notes to the financial statements

For the year ended 31 March 2023

7. Total expenditure (continued)
The charity
Prior period comparative
Staff costs
Other staff costs
Direct project costs
Fundraising
Bank charges
Printing, postage and stationery
Insurance
Premises costs
Communications
Accountancy
Legal fees
Depreciation
IT and support costs
Subscriptions
Miscellaneous costs
Sub-total
Total expenditure
Allocation of support and
governance costs		 Raising
funds
£
61,281
-
-
26,964
-
-
-
-
-
-
-
-
-
-
-
88,245
24,256
112,501		 £
306,287
-
27,250
-
-
7,335
-
-
-
-
-
-
-
-
-
340,872
121,232
462,104
Charitable
activities		 £
49,395
4,595
-
-
846
-
2,529
42,766
18,299
10,709
2,765
1,093
9,932
1,428
1,131
145,488
(145,488)
-
Support and
governance
costs		 2022 Total
£
416,963
4,595
27,250
26,964
846
7,335
2,529
42,766
18,299
10,709
2,765
1,093
9,932
1,428
1,131
574,605
-
574,605

41

Sight Support West of England

Notes to the financial statements

For the year ended 31 March 2023

8. Net movement in funds

This is stated after charging:

Net movement in funds
This is stated after charging:
2023 2022
£ £
Depreciation 6,366 7,038
Operating lease payments 18,000 4,500
Trustees' remuneration Nil Nil
Trustees' reimbursed expenses Nil Nil
Auditor's / independent examiner's remuneration:
▪Statutory audit (including VAT) - 6,600
▪Independent examination (including VAT) 2,400 -
▪Other services 9,616 7,841

9. Staff costs and numbers

Staff costs were as follows:

Salaries and wages
Social security costs
Pension costs		 2023
£
454,333
32,462
21,610
508,405		 2022
£
370,142
26,993
19,828
416,963

One employee earned between £60,000 and £70,000 in the year, excluding employer's pension contributions (2022: 1 employee).

The key management personnel of the charity comprise the Trustees and Chief Executive Officer. The total employee benefits of the key management personnel were £68,759 (2022: £65,812).

Average number of employees The group
2023
No.
18.00		 The group
and charity
2022
No.
17.00

10. Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

42

Sight Support West of England

Notes to the financial statements

For the year ended 31 March 2023

11.
Tangible fixed assets
Group
Cost
At 1 April 2022
Additions in year
At 31 March 2023
Depreciation
At 1 April 2022
Charge for the year
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022
Charity
Cost
At 1 April 2022
Additions in year
At 31 March 2023
Depreciation
At 1 April 2022
Charge for the year
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022		 Long
leasehold
£
161,424
-
161,424
25,824
3,228
29,052
132,372
135,600		 £
£
38,404
34,070
1,867
-
40,271
34,070
32,907
30,435
2,235
903
35,142
31,338
5,129
2,732
5,497
3,635
£
3,842
1,867
5,709
2,849
1,108
3,957
1,752
993
Fixtures and
fittings
Computer
equipment
Computer
equipment		 Total
£
233,898
1,867
235,765
89,166
6,366
95,532
140,233
144,732
Total
£
3,842
1,867
5,709
2,849
1,108
3,957
1,752
993

43

Sight Support West of England

Notes to the financial statements

For the year ended 31 March 2023

12. Investments

Investments
Market value at 1 April 2022
Additions
Disposals proceeds
Equalisations
Realised gains / (losses)
Unrealised gains / (losses)
Movement in cash balances
Market value at 31 March 2023
Represented by:
Listed equities
Cash
Total		 2023
2022
£
£
499,273
382,981
32,500
107,201
(19,192)
(15,243)
146
-
(206)
1,798
(32,556)
8,201
(5,645)
14,335
474,320
499,273
449,185
468,493
25,135
30,780
474,320
499,273
The group		 2023
2022
£
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
The charity
-
-
-
-

Investments comprise listed investments held by the charity via Rathbones.

44

Sight Support West of England

Notes to the financial statements

For the year ended 31 March 2023

13. Subsidiary undertakings

Wiltshire Blind Association

Wiltshire Blind Association, CIO (number: 1119462), is a wholly controlled subsidiary of Sight Support West of England. It promotes the welfare of blind and partially sighted persons living in Wiltshire and Swindon.

Income from:
Donations and legacies
Charitable activities
Other trading activities
Investments
Total income
Expenditure on:
Charitable activities
Total expenditure
Net income before gains
Net gains / (losses) on investments
Net income and net movement in funds		 Restricted
£
-
5,334
-
-
5,334
5,334
5,334
-
-
-		 Unrestricted
£
106,426
67,787
459
8,445
183,117
225,205
225,205
(42,088)
(32,616)
(74,704)		 2023
Total
£
106,426
73,121
459
8,445
188,451
230,539
230,539
(42,088)
(32,616)
(74,704)		 2022
Total
£
318,868
63,447
250
6,927
389,492
219,562
219,562
169,930
9,999
179,929

The aggregate of the assets, liabilities and funds was:

Assets
Liabilities
Funds		 2023
£
785,149
(122,504)
662,645		 2022
£
814,621
(77,272)
737,349

14. Parent charity

The parent charity's gross income and results for the year are disclosed in the charity only Statement of Financial Activities.

45

Sight Support West of England

Notes to the financial statements

For the year ended 31 March 2023

15. Stock

Finished goods
16.
Debtors
Trade debtors
Prepayments and accrued income
Intercharity loan (Wiltshire Blind Association)
Other debtors
VAT
17.
Creditors : amounts due within 1 year
Trade creditors
Accruals
Other taxation and social security
Other creditors		 2023
2022
£
£
3,559
3,817
2023
2022
£
£
5,701
3,794
61,775
26,803
-
-
11
1,005
1,909
934
69,396
32,536
2023
2022
£
£
7,892
4,899
5,820
6,000
9,657
8,189
1,789
-
25,158
19,088
The group
The group
The group		 2023
2022
£
£
3,559
3,817
2023
2022
£
£
5,309
2,601
7,700
26,803
119,758
74,272
11
1,005
1,909
934
134,687
105,615
2023
2022
£
£
7,366
4,899
3,600
3,000
9,657
8,189
1,789
-
22,412
16,088
The charity
The charity
The charity		 2023
2022
£
£
3,559
3,817
2023
2022
£
£
5,309
2,601
7,700
26,803
119,758
74,272
11
1,005
1,909
934
134,687
105,615
2023
2022
£
£
7,366
4,899
3,600
3,000
9,657
8,189
1,789
-
22,412
16,088
The charity
The charity
The charity
16,088

46

Sight Support West of England

Notes to the financial statements

For the year ended 31 March 2023

18.
Analysis of group net assets between funds
£
Tangible fixed assets
-
Investments
-
Current assets
32,354
Current liabilities
-
Net assets at 31 March 2023
32,354
Prior year comparative
£
Tangible fixed assets
-
Investments
-
Current assets
6,000
Current liabilities
-
Net assets at 31 March 2022
6,000
Restricted
funds
Restricted
funds		 £
138,482
-
328,000
-
466,482
£
143,740
-
328,000
-
471,740
Designated
funds
Designated
funds		 £
1,751
474,320
(34,451)
(25,158)
416,462
£
992
499,273
(16,718)
(19,088)
464,459
General
funds
General
funds		 Total
Funds
£
140,233
474,320
325,903
(25,158)
915,298
Total
Funds
£
144,732
499,273
317,282
(19,088)
942,199

47

Sight Support West of England

Notes to the financial statements

For the year ended 31 March 2023

19. Movements in funds

Movements in funds
Restricted funds
Society of Merchant Ventures
Get Set Progress Internship
Ralph & Irma Sperring Trust
Sight loss advice services
Digital inclusion
Quartet
Age UK
Total restricted funds
Designated funds:
TUPE redundancy liability
Development fund
Fixed Asset fund
Total designated funds
General funds
Total unrestricted funds
Total funds
Wiltshire Community Sight
Loss Service
Unrestricted funds		 At 1 April
2022
£
-
-
-
-
-
-
6,000
-
6,000
28,000
300,000
143,740
471,740
464,459
936,199
942,199		 Income
£
4,900
11,117
1,500
3,094
30,000
5,000
-
5,334
60,945
-
-
-
-
638,760
638,760
699,705		 £
£
(4,900)
-
(8,763)
-
(1,500)
-
(3,094)
-
-
-
(5,000)
-
(6,000)
-
(5,334)
-
(34,591)
-
-
-
-
-
(5,258)
-
(5,258)
-
(654,141)
(32,616)
(659,399)
(32,616)
(693,990)
(32,616)
Transfers
between funds
and gains /
(losses)
Expenditure		 £
-
2,354
-
-
30,000
-
-
-
At 31 March
2023
32,354
28,000
300,000
138,482
466,482
416,462
882,944
915,298

Purposes of restricted funds

Society of Merchant Ventures To provide community sight loss services in Bath and North-East Somerset.

Get Set Progress Internship To fund an intern post specifically for someone with sight loss who is struggling to access work.

Ralph & Irma Sperring Trust To provide community sight loss services in Midsomer Norton.

Sight loss advice services To provide sight loss advice and support in specific towns and parishes across Wiltshire

Digital inclusion To provide technology support for older people with sight loss in Bristol, Bath and South Gloucestershire.

48

Sight Support West of England

Notes to the financial statements

For the year ended 31 March 2023

19. Movements in funds (continued) Purposes of restricted funds (continued)

Quartet To deliver community sight loss advice services in South Gloucestershire.

Age UK To deliver our part of a 6 month collaboration project to provide mental health support to elderly people.

Wiltshire Community Sight Loss Service Funding towards the cost of a Community Sight Loss Advisor in Wiltshire.

Purpose of designated funds

TUPE redundancy liability

To cover the TUPE redundancy liability for staff delivering the South Gloucestershire Rehabilitation Service.

Development fund

Funding set aside by Wiltshire Blind Association to fund SSWE to provide sight loss advice and guidance services across Wiltshire and Swindon.

Fixed Asset fund The net book value of fixed assets held in Wiltshire Blind Association.

Prior year comparative
Restricted funds
Postcode Local Trust
Quartet
Sobell Foundation
Age UK
Wiltshire Community
Salisbury Resource
Centre
Total restricted funds
Designated funds:
TUPE redundancy liability
Development fund
Fixed Asset fund
Total designated funds
General funds
Total unrestricted funds
Total funds
Unrestricted funds		 At 1 April
2021
£
-
-
7,000
-
-
-
7,000
28,000
-
-
28,000
120,924
148,924
155,924		 Income
£
6,874
9,400
-
12,500
29,448
5,000
63,222
-
-
-
-
1,298,757
1,298,757
1,361,979		 £
£
(6,874)
-
(9,400)
-
(7,000)
-
(6,500)
-
(29,448)
-
(5,000)
-
(64,222)
-
-
-
-
300,000
(5,945)
149,685
(5,945)
449,685
(515,536)
(439,686)
(521,481)
9,999
(585,703)
9,999
Expenditure
Transfers
between funds
and gains /
(losses)		 £
-
-
-
6,000
-
-
At 31 March
2022
6,000
28,000
300,000
143,740
471,740
464,459
936,199
942,199

49

Sight Support West of England

Notes to the financial statements

For the year ended 31 March 2023

20. Financial instruments at fair value

Financial assets measured at fair value 2023
2022
£
£
474,320
499,273
The group		 2023
2022
£
£
-
-
The charity

Financial assets measured at fair value comprise listed investments.

21. Related party transactions

Wiltshire Blind Association (WBA), a CIO (number. 1119462) is a wholly controlled subsidiary of Sight Support West of England (SSWE). At 31 March 2023, WBA owed SSWE £119,758 (2022: £74,272).

Nick Grinham, Carl Hall and Kayvan Ghotbi-Ravandi, trustees of Sight Support West of England (SSWE), are also trustees of Wiltshire Blind Association (WBA). During the year ended 31 March 2023, WBA collected monies on behalf of SSWE and granted £149,434 (2022: £208,464).

22. Recognition of control of net assets of subsidiary

Net assets acquired on acquisition
Tangible assets
Investments
Debtors
Cash at bank and in hand
Creditors: amounts falling due within 1 year		 2023
£
-
-
-
-
-
-		 2022
£
149,685
382,981
10
140,582
(115,838)
557,420

Due to the nature of the acquisition the net assets acquired have been recorded in the statement of financial activities as other income.

22. Operating lease commitments

The charity had operating leases at the year end with total future minimum lease payments as follows:

Amount falling due:
Within 1 year
Within 1 - 5 years		 2023
2022
£
£
18,000
18,000
54,000
72,000
72,000
90,000
The group		 2023
2022
£
£
18,000
18,000
54,000
72,000
72,000
90,000
The charity		 2023
2022
£
£
18,000
18,000
54,000
72,000
72,000
90,000
The charity
90,000

50