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2021-03-31-accounts

Charity number: 1183608

SUFFOLK SIGHT Charitable Incorporated Organisation (CIO)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

SUFFOLK SIGHT

Charitable Incorporated Organisation (CIO)

CONTENTS

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 7
Independent examiner's report 8
Statement of financial activities 9
Balance sheet 10
Notes to the financial statements 11 - 32

SUFFOLK SIGHT Charitable Incorporated Organisation (CIO)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2021

Trustees G M Staff
P Durrell
A Kelly*
M Peak*
C Presland*
S W J Hodgkiss
A Sheppard
N A Broadbent
J Miller (resigned 16 July 2020)
T Wynn*
* service users
Charity registered
number
1183608
Registered office
West Suffolk Disability Resource Centre
4 Bunting Road
Bury St Edmunds
Suffolk
IP32 7BX
Accountants
Larking Gowen LLP
Chartered Accountants
1 Claydon Business Park
Great Blakenham
Ipswich
IP6 0NL
Bankers
CAF Bank
25 Kings Hill Avenue
Kings Hill
West Malling
ME19 4JQ
Investment managers
CCLA
85 Queen Victoria Street
London
EC4V 4ET

Page 1

SUFFOLK SIGHT

Charitable Incorporated Organisation (CIO)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021

The Trustees present their annual report together with the financial statements of Suffolk Sight CIO (the charity) for the year 1 April 2020 to 31 March 2021. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable charity's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Suffolk Sight was registered with the Charity Commission as a Charitable Incorporated Organisation (CIO) on 29 May 2019. It commenced operating on 1 April 2020 with the amalgamation of East Suffolk Association for the Blind CIO and West Suffolk Sight CIO.

This year has been a difficult one for the charity as the Covid-19 pandemic and subsequent national lockdowns have necessitated major changes to the way the charity delivers its services. There have also been inevitable delays in the work to bring together the operations of the two merging charities, and in creating and implementing a long-term strategic plan for the new organisation.

Structure, governance and management

a) Constitution

Suffolk Sight's activities are governed by its Constitution as registered with the Charity Commission on 29 May 2019, which it sets out the nature and limitations of the charity’s work with local blind and partially-sighted people.

The management of the charity is the responsibility of the Board of Trustees who are elected, appointed and coopted under the terms of the Constitution.

b) Recruitment and induction of Trustees

New trustees are currently appointed at the Annual General Meeting or at any point in the year by the decision of the trustee board. Induction is carried out by the Chair and Chief Executive. A Trustee Handbook provides information about Suffolk Sight and the roles and responsibilities of its trustees. It is considered appropriate that a proportion of the trustees should be service users and currently four of the trustees have a visually impairment.

c) Organisation, structure and decision making

Suffolk Sight has a paid staff team to oversee provision of all services together with seventeen volunteer-run clubs that are all self-financing and run local social and activity groups for members of Suffolk Sight within their geographical areas. These clubs each operate their own bank accounts, however, they operate and report within the registered charity and also operate under the charity’s single insurance policy.

Suffolk Sight’s strategic direction is set by its Board of Trustees which meets six times per year. Implementation of the strategy and management of the organisation is the responsibility of the part-time Chief Executive who is also responsible for the organisation's supporting infrastructure, assisted by a part-time Operations Manager, part-time Administrator and part time Financial Controller. The other front-line members of staff are involved directly in the delivery of services to beneficiaries.

The Chair, Vice Chair and Chief Executive meet regularly to share information and consider important issues arising between board meetings. The Operations Manager holds a team meeting of all the paid staff every month to deal with operational matters.

d) Related party relationships

Page 2

SUFFOLK SIGHT Charitable Incorporated Organisation (CIO)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

The Charity maintains close links with both national and other local charities within the sight-loss sector. It is an active member of Visionary, which is a national body that supports local voluntary sight-loss charities. It also has a close working relationship with Sensing Change (the sensory team for Suffolk County Council Social Services) and the four NHS Hospital Eye Clinics serving the population of Suffolk. The Charity administers distribution of radios on behalf of the British Wireless for the Blind Fund. Blind Veterans UK and the RNIB are referred to for provision of information and support for Suffolk Sight clients within their remits. The charity also recommends those who would benefit from a guide dog to the Guide Dogs for the Blind Association.

e) Risk management

The Board of Management have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems are in place to manage any exposure to identified major risks, which are subject to regular review. The trustees have recognised as a prime risk the need for on-going financial stability. Consequently, the operations team has continued to address overheads and work closely with Suffolk Sight’s commission-based external fund raiser.

Charitable objectives

The Charity's objectives, set out in its constitution, are to relieve the needs of people who are visually impaired across Suffolk for the public benefit by providing the best support and care so that they can lead rich and fulfilling lives with the highest level of independence and by promoting the objectives to its members, beneficiaries and the wider communities in which it operates.

Suffolk Sight’s principal objective is to provide support, welfare services and social activities enabling those experiencing sight related difficulties in Suffolk to continue living independent and fulfilling lives within their home community wherever practical. Within the parameters set by its constitution, Suffolk Sight provides public benefit by supporting people with a visual impairment in endeavouring to maintain independence and quality of life. In the exercise of its powers to that end, Suffolk Sight has paid due regard to the published guidance from the Charity Commission on the operation of the Public Benefit requirement under the Charities Act 2011.

The main aims and objectives of the charity are:

• To provide appropriate help, support, advice and access to daily living aids that contribute to improving the quality of life of blind and partially sighted people; this includes a home visiting service and telephone support where appropriate; this also includes a low vision service (demonstration and training on the correct use of manual and electronic magnifiers) in client’s homes, where they are not able to or choose not to access the facilities at the hospital eye clinics.

Through the equipment and resource centres at Bunting Road and Tower Street, to offer a facility where clients can visit to evaluate a range of daily living aids, as well as to have access to a trained Technology Advisor – themselves partially sighted - who can demonstrate a variety of IT products and offer training and technical support.

• To help people who use the charity's services maintain choice and control over their lives

The Charity has at any time approximately 2150 people in Suffolk on its database who are living with sight loss and who wish to benefit from its services. The RNIB statistics indicate that there are 29,600 people in Suffolk

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SUFFOLK SIGHT Charitable Incorporated Organisation (CIO)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

living with sight loss of whom 4,590 are registered sight impaired or severely sight impaired.

Main activities and achievements for the period

  1. At the end of the reporting period, there were 2150 registered beneficiaries on the Suffolk Sight database. The average age of new registrations continues to increase, largely due to continuously improved treatments but along with that we are finding that a lot of new registrants are suffering multiple disabilities and hence are being supported by several agencies.

  2. New referrals into Suffolk Sight came from the Eye Clinic Liaison Officers (ECLOs) at West Suffolk, Ipswich, James Paget and Addenbrookes hospitals, from Sensing Change and directly from individuals or family members, either through recommendation or through Suffolk Sight’s widely distributed trifold leaflets.

  3. The primary activity is supporting visually impaired members through our seven Community Workers resolving their needs by a combination of home visits and telephone support, offering advice, providing solutions and making referrals to third-parties where appropriate. Inevitably we only are called upon to serve something like 20% of our members at any one point in time but we endeavour to contact all of our members at least once a year to see if their circumstances have changed thus requiring our attention. Due to the pandemic, a large proportion of the support has had to be offered remotely but face-to-face support has continued to be offered where appropriate, always in line with government guidance.

  4. Our Community Workers continue to use their magnification training from Optelec to both demonstrate and arrange purchase of simple and electronic hand-held magnifiers. This is an extremely valuable service particularly for those living without easy access to Low Vision clinics at the hospitals. Wherever possible they demonstrate a core set of daily living aids and provide catalogues and help where necessary to make sure that our members can purchase from a large range of other daily living aids.

In most years we provide or help with the acquisition of over 1000 items of daily living aids for our members. Where members are financially disadvantaged, we are able to assist in the purchase of small items via a fund kindly donated to Suffolk Sight by a number of charitable trusts and donors. For this, we and the members concerned are very appreciative.

  1. Suffolk Sight is able to assist its beneficiaries with applications for welfare benefits where appropriate, most commonly Attendance Allowance or Personal Independence Payments (PIP).

  2. Suffolk Sight has two trained Technology Advisors who can demonstrate a range of IT assistive technology products as well as provide training and technical support for member’s own IT equipment, both remotely and at the resource centres or in the beneficiary’s home.

  3. We have continued to offer our befriending scheme, which has seen increased demand throughout the year, with the pandemic increasing feelings of social isolation. During the lockdowns the service was delivered by telephone only, with face-to-face visits resuming when possible in line with government guidance.

  4. During the year, Suffolk Sight introduced a telephone counselling service for those beneficiaries most affected by the pandemic.

  5. We also provide referrals to the RNIB for any of our members who require help getting back into or staying in employment.

  6. We encourage all of our members to receive talking newspapers and magazines from both local and national charities offering this service. In addition we help members get access to talking books either through the RNIB or through a charity called Calibre.

  7. We act as agents for a charity called British Wireless for the Blind (BWFB) who provide radios and

Page 4

SUFFOLK SIGHT

Charitable Incorporated Organisation (CIO)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

radio/CD/USB stick players as well as internet-based radios. These are offered to members who meet the tight criteria set by BWBF.

  1. We provide a twice yearly informative newsletter which goes out to all of our members either in large print, on CDs, USB Sticks or via email. These newsletters contain a wide range of helpful information and guidance to our members.

  2. Across Suffolk we have seventeen social groups, including a children’s group, meeting at least once a month for those of our members who are able to attend. These offer a good social setting around food and drink and more often than not some activity or entertainment. Occasionally there will be an outing and at Christmas time a special celebratory meal or party.

  3. In Lowestoft and Felixstowe the local District Committees offer directly or in conjunction with other local organisers a range of activity groups for our members to participate in. This embraces Blind Bowls, Blind Shooting, New Age Curling, rambles, sailing and arts & crafts groups.

Management and staffing

Suffolk Sight employed eighteen part-time staff and one full-time.

The day to day operations of the Association are the responsibility of the Operations Manager, who is supported by the Administrator and Financial Controller.

There were seven Community Workers and one member of staff is employed as a Development Officer to coordinate the leisure and recreational activities taking place in Lowestoft and the immediate area. The charity also employed a Befriending Co-ordinator, Volunteer Co-ordinator, two Technology Advisors, a Low Vision Therapist, Community Development Co-ordinator and a Promotion and Network Co-ordinator.

Volunteers

Volunteers are an essential part of Suffolk Sight’s overall operation. The charity is fortunate to be able to call upon over 200 volunteers across Suffolk to cover a wide range of duties. Volunteers support a number of our services and provide a wide range of practical help including administration support, befriending, and running monthly social and activity groups including outings and transport.

Financial report

As detailed in the accounting policy notes, these financial statements adopt merger accounting, presenting comparative period figures for the merged charities as if they were combined before the start of the comparative period.

On 1st April 2020 Suffolk Sight merged the assets, liabilities and operations of West Suffolk Sight (CIO) and East Suffolk Association for the Blind (CIO). The combined assets now include three rental properties in Ipswich valued at £415,000, land held at £45,000 and funds invested with CCLA with a market value of £549,640. All members of staff were transferred into the new charity and both offices; in Bury St. Edmunds and in Ipswich, have been retained.

The review of Suffolk Sight’s first financial year from 1st April 2020 to 31st March 2021 is compared to the combined accounts of West Suffolk Sight and East Suffolk Association for the Blind for the twelve months from 1st April 2019 to 31st March 2020, as these are combined accounts they are not directly comparable.

Suffolk Sight’s financial year was different to the one that had been anticipated and we continued to offer our services within the restrictions and to develop new initiatives. We were also able to secure grant funding (restricted and unrestricted) that assisted our work during the pandemic and appreciated donated services that

Page 5

Charitable Incorporated Organisation (CIO)

SUFFOLK SIGHT

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

reduced overheads.

Total income receipts for the year ending 31st March 2021 were £306,736 (2020: £179,532) resulting in a deficit for the year before investment gains of £3,895 (2020 deficit: £181,512). Restricted income receipts of £112,000 (2020: £17,347) derived principally from a grant from the National Lottery Community Fund, that supported our core costs, in addition we received a grant from the Suffolk Community Foundation to fund a new initiative, telephone counselling. During the year Suffolk Sight made use of the government’s job retention scheme, £49,099 (2020: £0), with some staff on part-time flexible furlough to ensure that they were able to continue to provide their valued services but recognising the reduced ability to carry out face to face assessments, appointments and support.

The coronavirus pandemic dampened our ability to raise voluntary income but we were grateful to receive £15,530 in individual donations (2020: £23,301) from our regular donors and supporters, £43,555 (2020: £47,933) from legacies and £1,001 (2020: £6,258) from community fundraising.

Total expenditure for the year was £310,631 a decrease of 14% from the preceding year (2020: £361,044). Charitable activities, incorporating Suffolk Sight’s direct costs and support costs, was reduced due to the pandemic related limitations placed on delivering our direct support to beneficiaries; and a reduction in support costs as compared to the prior year £288,642 (2020: £350,925). Fundraising costs, incorporating both property management fees and commission due to our external fundraiser, doubled reflecting the successful receipt of grant income.

The year-end funds of the charity total £1,130,820 (2020: £1,014,614). The unrestricted fund balance was £1,120,017 (2020: £1,006,780) of which £75,020 (2020: £72,278) comprises the balances held by our district club funds. The restricted fund balance was £10,803 (2020: £7,834).

Reserves policy

The Trustees are in the process of establishing Suffolk Sight’s strategy and have set a reserves policy for the forthcoming year. The Trustees have given due consideration to the external environment and the performance of current operations and have set a policy which requires that reserves be maintained at a level to ensure continuity of Suffolk Sight’s core activities during current uncertain times, and which recognises that the principal source of funding is from legacies, which by their very nature are unpredictable.

The Trustees aim to maintain free reserves in unrestricted funds at a level which equates to a minimum of eighteen months and a maximum of 36 months of unrestricted charitable expenditure which is estimated to be between £450,000 and £900,000 and ensures that there are sufficient resources:

• To enable Suffolk Sight to continue to deliver its core activities in the event of a shortfall in voluntary and other income streams

The Trustees hold reserves in a ready realisable form i.e. that can be easily converted into cash. In the event of the Suffolk Sight being a recipient of a large bequest, the Trustees will undertake to review the activities of the Charity.

This policy will be reviewed annually.

The reserves held at 31st March 2021 were £655,872 which equates to 26 months of charitable expenditure.

Investment policy

In accordance with the charity's constitution, the Trustees have the power to invest in such stocks, shares and

Page 6

SUFFOLK SIGHT Charitable Incorporated Organisation (CIO)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

investments as they see fit. The Trustees have delegated oversight of Suffolk Sight’s investment assets to the Finance Committee. The Finance Committee, which meets six times a year, report and make recommendations to the Trustees at Board meetings held every two months.

Suffolk Sight’s investment strategy is to generate a consistent and sustainable return, within an acceptable level of risk, to part fund annual expenditure and to deliver the investment objectives, which are in turn aligned with the Suffolk Sight’s short, medium and long-term strategic objectives.

Suffolk Sight will be the recipient of the Baylham Trust which holds land and a house in trust and is administered by trustees that have no link to Suffolk Sight and operate completely independently under the terms of the benefactor's last will and testament. The freehold for the land and property is expected to transfer to Suffolk Sight in 2022.

At the year-end £549,640 was held within four COIF Charities Funds which are administered by CCLA, £415,000 was held in three freehold rental properties and £45,000 was held in land in Ipswich.

Statement of Trustees' Responsibilites

The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & 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 of the incoming resources and application of resources of the charity for that period.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They 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.

Approved by order of the members of the board of Trustees and signed on their behalf by:

................................................ G M Staff (Chair of Trustees) Date:

Page 7

SUFFOLK SIGHT Charitable Incorporated Organisation (CIO)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2021

Independent examiner's report to the Trustees of Suffolk Sight ('the Charity')

I report to the Charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2021.

Responsibilities and basis of report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

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 Institute of Chartered Accountants in England & Wales (ICAEW), which is one of the listed bodies.

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

  1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.

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.

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Signed: Dated: 5 October 2021

Giles Kerkham FCA DChA

Larking Gowen LLP Chartered Accountants 1 Claydon Business Park Great Blakenham Ipswich IP6 0NL

Page 8

SUFFOLK SIGHT

Charitable Incorporated Organisation (CIO)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

Note
Income from:
Donations and legacies
2
Charitable activities
3
Community fundraising
4
Investments
5
Total income
Expenditure on:
Raising funds
6
Charitable activities
7
Total expenditure
Net (expenditure)/income before
net gains/(losses) on investments
Net gains/(losses) on investments
Net income/(expenditure)
Transfers between funds
19
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2021
£
61,783
89,614
1,001
42,338
194,736
21,989
179,041
201,030
(6,294)
120,101
113,807
(570)
113,237
1,006,780
113,237
1,120,017		 Restricted
funds
2021
£
-
112,000
-
-
112,000
-
109,601
109,601
2,399
-
2,399
570
2,969
7,834
2,969
10,803		 Total
funds
2021
£
61,783
201,614
1,001
42,338
306,736
21,989
288,642
310,631
(3,895)
120,101
116,206
-
116,206
1,014,614
116,206
1,130,820		 Total
funds
Combined 2020
£
76,005
43,300
6,258
53,969
179,532
10,119
350,925
361,044
(181,512)
(13,123)
(194,635)
-
(194,635)
1,209,249
(194,635)
1,014,614

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 11 to 32 form part of these financial statements.

Page 9

SUFFOLK SIGHT Charitable Incorporated Organisation (CIO) REGISTERED NUMBER: 1183608

BALANCE SHEET AS AT 31 MARCH 2021

Note
Fixed assets
Tangible assets
12
Investments
14
Investment property
13
Current assets
Stocks
15
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within one
year
18
Net current assets
Total assets less current liabilities
Net assets excluding pension asset
Total net assets
Charity funds
Restricted funds
19
Unrestricted funds
19
Total funds		 15,350
5,128
120,433
140,911
(23,876)		 2021
£
4,145
549,640
460,000
1,013,785
117,035
1,130,820
1,130,820
1,130,820
10,803
1,120,017
1,130,820		 14,426
5,072
100,266
119,764
(27,287)		 Combined
2020
£
2,601
529,536
390,000
922,137
92,477
1,014,614
1,014,614
1,014,614
7,834
1,006,780
1,014,614

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

................................................ G M Staff (Chair of Trustees)

Date:

The notes on pages 11 to 32 form part of these financial statements.

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Charitable Incorporated Organisation (CIO)

SUFFOLK SIGHT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. Accounting policies

1.1 Charity information

Suffolk Sight, registered charity number 1183608, is a public benefit entity established in the UK as a charitable incorporated organisation governed by its constitution dated 29th May 2019. Suffolk Sight is formed from the amalgamation of West Suffolk Sight CIO and East Suffolk Association for the Blind CIO and became active on 1st April 2020.

Suffolk Sight operates from its offices in Bury St. Edmunds and Ipswich and regionally throughout Suffolk. The Charity’s principal office is at the Disability Resource Centre, 4 Bunting Road, Bury St. Edmunds IP32 7 BX

1.2 Basis of preparation of financial statements

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

Suffolk Sight 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.

Merger accounting

East Suffolk Association for the Blind and West Suffolk Sight merged on the first day of the year, 1 April 2020. Merger accounting has been adopted within these financial statements.

1.3 Going concern

Taking account of the level of the charity's investments and expenditure commitments, the Trustees are of the opinion that Suffolk Sight is a going concern. The Trustees are of the view that Suffolk Sight will remain able to meet its commitments as they arise for a period of at least 12 months from the date of this report, and there are no material uncertainties in relation to Suffolk Sight’s ability to continue as a going concern.

1.4 Income

The charity derives its income from donations, legacies, investments, rentals and other voluntary income and grants that provide core funding.

Donation income is included within the Statements of Financial Activities as it is received. Legacies are recognised when the three principles of entitlement, measurability and certainty are met. Grants are recognised in the period to which they relate.

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Charitable Incorporated Organisation (CIO)

SUFFOLK SIGHT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. Accounting policies (continued)

1.5 Expenditure

Expenditure is recognised in the period to which it relates and liabilities are recognised in the period in which they arise.

Charitable Activities

Charitable activities expenditure comprises those costs incurred by the charity in the delivery of its charitable services in line with the Charity’s objectives. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Raising Funds

Expenditure on raising funds includes the direct costs paid to our freelance fundraising consultant and the direct costs related to the management and repair of the three rental properties owned by the charity.

Underlying management fees for the common investment funds have been incurred and have been charged to those funds.

Governance costs

Governance costs are those costs associated with maintaining the governance of the charity as opposed to the management of the charity's activities.

All expenditure is inclusive of irrecoverable VAT.

1.6 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 institution with whom the funds are deposited.

1.7 Tangible fixed assets and depreciation

Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment - 20%

1.8 Investments

Listed investments are stated in the balance sheet at their market value, as at the balance sheet date.

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SUFFOLK SIGHT Charitable Incorporated Organisation (CIO)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. Accounting policies (continued)

1.9 Investment properties

Investment property is carried at fair value determined annually by independent surveyors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any differences in nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Financial Activities.

1.10 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

1.11 Debtors

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

1.12 Cash at bank and in hand

Cash at bank and 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.

1.13 Liabilities and provisions

Liabilities are recognised as soon as there is a legal or constructive obligation committing resources to be paid.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

1.14 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 measured at amortised cost using the effective interest method.

1.15 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

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SUFFOLK SIGHT

Charitable Incorporated Organisation (CIO)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. Accounting policies (continued)

1.16 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

2. Income from donations and legacies

Unrestricted
funds
2021
£
Donations
15,530
Legacies
43,555
Gift Aid
2,698
61,783
Unrestricted
funds
Combined
2020
£
Donations
23,301
Legacies
47,933
Gift Aid
4,771
76,005		 Total
funds
2021
£
15,530
43,555
2,698
61,783
Total
funds
Combined
2020
£
23,301
47,933
4,771
76,005

Page 14

SUFFOLK SIGHT

Charitable Incorporated Organisation (CIO)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

3. Income from charitable activities

Unrestricted
funds
2021
£
Grants
25,595
Covid Job Retention Scheme Grants
49,099
District Club
11,760
Other charitable income
3,160
89,614		 Restricted
funds
2021
£
112,000
-
-
-
112,000		 Total
funds
2021
£
137,595
49,099
11,760
3,160
201,614

Within unrestricted grants there are local authority Covid grants of amount £14,200 (2020: £nil)

Grants
District Club
Other charitable income
4.
Income from other trading activities
Income from fundraising events		 Unrestricted
funds
Combined
2020
£
6,028
18,842
1,083
25,953		 Restricted
funds
Combined
2020
£
17,347
-
-
17,347		 Total
funds
Combined
2020
£
23,375
18,842
1,083
43,300
Unrestricted Total
funds funds
2021 2021
£ £
Community Fundraising 1,001 1,001

Page 15

SUFFOLK SIGHT Charitable Incorporated Organisation (CIO)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

4. Income from other trading activities (continued)

Income from fundraising events (continued)

Unrestricted Total
funds funds
Combined Combined
2020 2020
£ £
Community Fundraising 6,258 6,258

5. Investment income

Unrestricted
funds
2021
£
Rental income from investment properties
23,505
Investment income
18,833
42,338
Unrestricted
funds
Combined
2020
£
Rental income from investment properties
29,478
Investment income
24,491
53,969		 Total
funds
2021
£
23,505
18,833
42,338
Total
funds
Combined
2020
£
29,478
24,491
53,969

Page 16

SUFFOLK SIGHT

Charitable Incorporated Organisation (CIO)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

6. Expenditure on raising funds

Costs of raising voluntary income

Unrestricted
funds
2021
£
Fundraising costs
21,989
Costs of raising voluntary income (continued)
Unrestricted
funds
Combined
2020
£
Fundraising costs
10,119		 Total
funds
2021
£
21,989
Total
funds
Combined
2020
£
10,119

7. Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted Restricted Total
funds funds funds
2021 2021 2021
£ £ £
Charitable activities 179,041 109,601 288,642

Page 17

SUFFOLK SIGHT

Charitable Incorporated Organisation (CIO)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

7. Analysis of expenditure on charitable activities (continued)

Summary by fund type (continued)

Unrestricted Restricted Total
funds funds funds
Combined Combined Combined
2020 2020 2020
£ £ £
Charitable activities 337,218 13,707 350,925

8. Analysis of expenditure by activities

Charitable activities
Charitable activities		 Activities
undertaken
directly
2021
£
235,822
Activities
undertaken
directly
Combined
2020
£
288,709		 Support
costs
2021
£
52,820
Support
costs
Combined
2020
£
62,216		 Total
funds
2021
£
288,642
Total
funds
Combined
2020
£
350,925

Page 18

SUFFOLK SIGHT

Charitable Incorporated Organisation (CIO)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

8. Analysis of expenditure by activities (continued)

Analysis of direct costs

Staff costs for service delivery
Depreciation
Direct costs for service delivery
Training
Administration
Communications
Accountancy fees and payroll
Occupational costs
Equipment for visually impaired
Legal and professional
Digital expenditure
District Club expenditure		 Total
funds
2021
£
187,286
858
11,186
674
3,064
3,364
2,594
15,423
-
3,229
1,422
6,722
235,822		 Total
funds
Combined
2020
£
176,664
471
24,636
2,254
4,931
7,248
5,371
20,634
8,455
13,316
2,343
22,386
288,709

Page 19

SUFFOLK SIGHT Charitable Incorporated Organisation (CIO)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

8. Analysis of expenditure by activities (continued)

Analysis of support costs

Staff costs for administration and management
Depreciation
Training
Administration
Communications
Accountancy fees and payroll
Occupational costs
Legal and professional
Digital expenditure		 Total
funds
2021
£
45,370
116
45
716
2,883
422
2,511
526
231
52,820		 Total
funds
Combined
2020
£
48,947
76
390
926
624
875
3,359
6,638
381
62,216

9. Independent examiner's remuneration

The independent examiner's remuneration amounts to an independent examiner fee of £3,180 ( 2020 - £ - ).

10. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2021
£
216,135
10,761
5,760
232,656		 Combined
2020
£
210,179
10,525
4,907
225,611

Page 20

SUFFOLK SIGHT Charitable Incorporated Organisation (CIO)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

10. Staff costs (continued)

The average number of persons employed by the Charity during the year was as follows:

Combined
2021 2020
No. No.
Employees 19 19

No employee received remuneration amounting to more than £60,000 in either year.

Remuneration (including employer national insurance and employer pension) to key management personnel in the year amounted to £69,715 (2020 - £61,324) .

The figures between the current year and the prior year are not directly comparable as 2020 includes the costs for both West Suffolk Sight and East Suffolk Association for the Blind key management personnel.

11. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2020 - £NIL) .

During the year ended 31 March 2021, travel and telephone expenses totalling £ 27 were reimbursed to 2 Trustees (2020 - £553 to 3 Trustees) .

Page 21

SUFFOLK SIGHT Charitable Incorporated Organisation (CIO)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

12.
Tangible fixed assets
Cost or valuation
At 1 April 2020
Additions
At 31 March 2021
Depreciation
At 1 April 2020
Charge for the year
At 31 March 2021
Net book value
At 31 March 2021
At 31 March 2020		 Office
equipment
£
3,355
2,518
5,873
754
974
1,728
4,145
2,601

Page 22

SUFFOLK SIGHT

Charitable Incorporated Organisation (CIO)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

13. Investment property

Valuation
At 1 April 2020
Surplus on revaluation
At 31 March 2021		 Freehold
investment
property
£
390,000
70,000
460,000

At the end of the year investment properties were revalued by the trustees on the basis of informal advice from an independent registered chartered surveyor. The properties were valued on the basis of current market value for similar leased properties. The properties and land have been revalued from £390,000 to £460,000 and the revaluation has been recognised in the statement of financial activities.

Land and property at Baylham with estimated market value in excess of £625,000 has been left to the charity by way of a legacy. The assets remain under the administration of the estate trustees and so has not been recognised in these accounts. Transfer to the charity is expected to occur in 2022.

Page 23

SUFFOLK SIGHT Charitable Incorporated Organisation (CIO)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

14.
Investments
Cost or valuation
At 1 April 2020
Additions
Disposals
Revaluations
At 31 March 2021
Market value
At 31 March 2021
At 31 March 2020		 UK Listed
investments
£
529,525
284,402
(314,388)
50,101
549,640
549,640
529,525

Investments are held in UK common deposit funds managed by the CCLA for charities. The investment funds are as follows:

15. Stocks

Combined
2021 2020
£ £
Goods for resale 15,350 14,426

Page 24

SUFFOLK SIGHT

Charitable Incorporated Organisation (CIO)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

16. Debtors

Due within one year
Other debtors
Prepayments and accrued income		 2021
£
2,698
2,430
5,128		 Combined
2020
£
1,044
4,028
5,072

17. Cash at bank and in hand

Suffolk Sight Bank and Cash
District Club Bank and Cash		 2021
£
45,413
75,020
120,433		 Combined
2020
£
27,988
72,278
100,266

18. Creditors: Amounts falling due within one year

VIP Mixed Club
Other creditors
Accruals and deferred income		 2021
£
11,900
8,796
3,180
23,876		 Combined
2020
£
11,900
9,218
6,169
27,287

Page 25

SUFFOLK SIGHT Charitable Incorporated Organisation (CIO)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

19. Statement of funds

Statement of funds - current year

Unrestricted
funds
General Funds
Beccles &
Bungay
Woodbridge
Halesworth &
Southwold
Lowestoft
Felixstowe
Shotley
Stowmarket
Sudbury VIP
Pakenham VIP
Clare Seekers
Bury St
Edmunds VIP
Haverhill BAPS
Mildenhall
Brandon
Hadleigh
Optimists		 Balance at 1
April 2020
£
936,804
4,514
8,167
6,490
9,204
21,133
6,696
2,951
1,856
432
1,418
478
2,307
360
1,338
2,632
1,006,780		 Income
£
182,976
170
3,526
162
838
3,273
346
2,289
-
647
453
-
-
35
-
21
194,736		 Expenditure
£
(194,308)
(216)
(195)
(130)
(910)
(4,162)
(71)
-
(533)
(53)
(175)
-
-
-
-
(277)
(201,030)		 Transfers
in/out
£
(570)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(570)		 Gains/
(Losses)
£
120,101
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
120,101		 Balance at
31 March
2021
£
1,045,003
4,468
11,498
6,522
9,132
20,244
6,971
5,240
1,323
1,026
1,696
478
2,307
395
1,338
2,376
1,120,017

Suffolk Sight has 17 regional clubs, in addition to the 15 clubs listed above Let’s do Lunch is a club which had no income or expenditure in the year and no balance at year end and Suffolk Sight Juniors, whose funds are managed by the Charity and are reported within restricted funds.

Page 26

SUFFOLK SIGHT

Charitable Incorporated Organisation (CIO)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

19. Statement of funds (continued)

Restricted
funds
National
Community
Lottery Fund
Telephone
Project
Aids equipment
and magnifier
West Suffolk
community
workers
East Suffolk
community
workers
Community
Support
Suffolk Sight
Juniors (district
club)
Total of funds		 Balance at 1
April 2020
£
-
-
2,403
-
-
3,000
2,431
7,834
1,014,614		 Income
£
100,000
5,000
800
2,500
1,700
1,000
1,000
112,000
306,736		 Expenditure
£
(100,370)
(5,200)
(209)
(2,500)
(322)
(1,000)
-
(109,601)
(310,631)		 Transfers
in/out
£
370
200
-
-
-
-
-
570
-		 Gains/
(Losses)
£
-
-
-
-
-
-
-
-
120,101		 Balance at
31 March
2021
£
-
-
2,994
-
1,378
3,000
3,431
10,803
1,130,820

Page 27

SUFFOLK SIGHT

Charitable Incorporated Organisation (CIO)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

19. Statement of funds (continued)

These restricted funds are as follows:

National Community Lottery Fund - funds charitable and support costs in the provision of Suffolk Sight's services to visually impaired people in Suffolk.

Telephone Project - funds the provision of one-to-one telephone counselling service to blind or partially sighted people.

Aids & Equipment - funds the provision of aids free to members who are in need.

West Suffolk Community Workers - funds the salary and/or expenses of community workers in the west of the county.

East Suffolk Community Workers - funds the salary and/or expenses of community workers and volunteers in the east of the county.

Community Support - funds the salary and/or expenses of volunteers and their support to the district clubs.

Suffolk Sight Juniors - funds equipment, facilities and activities for the Children's Group.

Transfers of total £570 were made from unrestricted to restricted funds to finance deficits on restricted fund activity.

Page 28

SUFFOLK SIGHT

Charitable Incorporated Organisation (CIO)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

19. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
General Funds
District clubs
Restricted funds
Restricted Funds
Total of funds		 Balance at
1 April 2019
£
1,130,274
74,781
1,205,055
4,194
1,209,249		 Income
£
145,640
16,545
162,185
17,347
17,347		 Expenditure
£
(325,987)
(21,350)
(347,337)
(13,707)
(361,044)		 Gains/
(Losses)
£
(13,123)
-
(13,123)
-
(13,123)		 Balance at
31 March
2020
£
936,804
69,976
1,006,780
7,834
1,014,614

Page 29

SUFFOLK SIGHT Charitable Incorporated Organisation (CIO)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

20. Summary of funds

Summary of funds - current year

General funds
Restricted funds		 Balance at 1
April 2020
£
1,006,780
7,834
1,014,614		 Income
£
194,736
112,000
306,736
Balance at
1 April 2019
£
1,205,055
4,194
1,209,249		 Expenditure
£
(201,030)
(109,601)
(310,631)
Income
£
162,185
17,347
179,532		 Transfers
in/out
£
(570)
570
-
Expenditure
£
(347,337)
(13,707)
(361,044)		 Gains/
(Losses)
£
120,101
-
120,101
Gains/
(Losses)
£
(13,123)
-
(13,123)		 Balance at
31 March
2021
£
1,120,017
10,803
1,130,820
Balance at
31 March
2020
£
1,006,780
7,834
1,014,614
Summary of funds - prior year
General funds
Restricted funds

21. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2021
£
Tangible fixed assets
4,145
Fixed asset investments
549,640
Investment property
460,000
Current assets
130,108
Creditors due within one year
(23,876)
Total
1,120,017		 Restricted
funds
2021
£
-
-
-
10,803
-
10,803		 Total
funds
2021
£
4,145
549,640
460,000
140,911
(23,876)
1,130,820

Page 30

SUFFOLK SIGHT

Charitable Incorporated Organisation (CIO)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

21. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year

Tangible fixed assets
Fixed asset investments
Investment property
Current assets
Creditors due within one year
Total		 Unrestricted
funds
Combined
2020
£
2,601
529,536
390,000
111,930
(27,287)
1,006,780		 Restricted
funds
Combined
2020
£
-
-
-
7,834
-
7,834		 Total
funds
Combined
2020
£
2,601
529,536
390,000
119,764
(27,287)
1,014,614

22. Operating lease commitments

At 31 March 2021 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:

2021 2020
£ £
Not later than 1 year 8,207 8,058

23. Related party transactions

During the year the spouse of a trustee has received remuneration for her role as community worker of £12,706 (2020: £13,014) .

Page 31

SUFFOLK SIGHT

Charitable Incorporated Organisation (CIO)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

24. Analysis of principal SoFA components for the previous reporting period

East Suffolk
Association
for the Blind
2020
West
Suffolk
Sight
2020
Total
funds
2020
£
£
£
Total income
103,417
73,818
177,235
Total expenditure
(152,780)
(208,264)
(361,044)
Net income/(expenditure)
(49,363)
(134,446)
(183,809)
Other gains/(losses)
(12,325)
(798)
(13,123)
Net movement in funds
(61,688)
(135,244)
(196,932)
Total funds brought forward
815,353
393,896
1,209,249
Total funds carried forward
755,962
258,652
1,014,614
Analysis of net assets at 1 April 2020
East Suffolk
Association
for the Blind
West Suffolk
Sight
Combined
total		 East Suffolk
Association
for the Blind
2020
West
Suffolk
Sight
2020
Total
funds
2020
£
£
£
Total income
103,417
73,818
177,235
Total expenditure
(152,780)
(208,264)
(361,044)
Net income/(expenditure)
(49,363)
(134,446)
(183,809)
Other gains/(losses)
(12,325)
(798)
(13,123)
Net movement in funds
(61,688)
(135,244)
(196,932)
Total funds brought forward
815,353
393,896
1,209,249
Total funds carried forward
755,962
258,652
1,014,614
Analysis of net assets at 1 April 2020
East Suffolk
Association
for the Blind
West Suffolk
Sight
Combined
total		 East Suffolk
Association
for the Blind
2020
West
Suffolk
Sight
2020
Total
funds
2020
£
£
£
Total income
103,417
73,818
177,235
Total expenditure
(152,780)
(208,264)
(361,044)
Net income/(expenditure)
(49,363)
(134,446)
(183,809)
Other gains/(losses)
(12,325)
(798)
(13,123)
Net movement in funds
(61,688)
(135,244)
(196,932)
Total funds brought forward
815,353
393,896
1,209,249
Total funds carried forward
755,962
258,652
1,014,614
Analysis of net assets at 1 April 2020
East Suffolk
Association
for the Blind
West Suffolk
Sight
Combined
total		 East Suffolk
Association
for the Blind
2020
West
Suffolk
Sight
2020
Total
funds
2020
£
£
£
Total income
103,417
73,818
177,235
Total expenditure
(152,780)
(208,264)
(361,044)
Net income/(expenditure)
(49,363)
(134,446)
(183,809)
Other gains/(losses)
(12,325)
(798)
(13,123)
Net movement in funds
(61,688)
(135,244)
(196,932)
Total funds brought forward
815,353
393,896
1,209,249
Total funds carried forward
755,962
258,652
1,014,614
Analysis of net assets at 1 April 2020
East Suffolk
Association
for the Blind
West Suffolk
Sight
Combined
total
2020
£
2020
£
2020
£
Net assets 755,962 258,652 1,014,614
Represented by:
Unrestricted funds 750,769 256,221 1,006,990
Restricted funds 5,193 2,431 7,624
Total funds 755,962 258,652 1,014,614

25. Analysis of net assets at 1 April 2020

Page 32